Some on you know in real life not through the internet and not someone famous.
How many FX-traders do you know in real life, and how many of them became rich (not including yourself). You make it a bit difficult for us to answer your question.
I know what you like to hear: Can I be successful! In all honesty, you can. Do you need people that know people that became rich? No! The question is: are you up for it?
When you think that this might be a dream, you may have to consider that you are not up for it. Don’t expect succesful traders to make themselves known. This will draw un wanted attention to them.
how old are they?
You’ll need a lot to learn and experience before you can become profitable. Those who’ve become rich trading Forex will never be found on forums.
I have friend in social media facebook which he already become full time trader and already getitng good earning from forex business, also my young brother he only relying income from forex business, so I think possible if any trader having good experience and knowlede they can trading for living
I know 3 that trade stock/forex. 2 of them are rich but they are middle age, one in late 30s and the other the retired father of an ex friend who is probably 50-60 . I wonder if it takes that long to master it.
I wish I had known about trading and started when I was a teen. I was so good at math and had so much free time :19:
when did your little brother start trading?
Im about to personally know one, He will be my mentor in 2 weeks.
I know two people who use Forex pretty successfully to supplement their income and live comfortably, but I wouldn’t say it’s made them rich.
Nope, i know of no one who has become rich from just FX speculation as a retail trader - been a player in this field for quite a while now too.
But some indonesian trader could afford car from forex trading, its great. Most Indonesia also great in making EA and many foreign using indonesian EA.
haha - I need an Indonesian friend now! Do they also help you get good wife who doesn’t age with time?
How common is trading stocks/forex? Do most people out of the overall population trade?
What is the most popular site indonesians use to discuss forex?
I think that the right answer on your question is: Yes. There are successful traders who are living from trading. Do I, you or someone else knows any of them it doesn’t really matter. Forex market is a market where people are trading like in any other market, which means someone is making money and someone is losing. The statistics says that there are approximately 5-10% successful traders.
I wouldn’t agree that someone has to win and someone has to lose. This may be true in the short term, such as in a single transaction or trade, but imagine over hundreds or thousands of trades, or maybe even more. The total value of money being traded is being diminished by spread, per trade, every trade.
Add to this that there is no such thing as an FX market for just retail traders, and an FX market for commercial traders and you start to realize that it’s one aggregated market. Sure retail brokers may not pass on every retail trade into the “actual market”, but they do aggregate net short and long positions into the market as a form of passing off risk (hedging). This happens, fact.
So now we know that the retail market and the commercial market players are taking part in one big pool, ok? So now lets say that all retail traders lose and all commercial traders win because of various, and really unnecessary controlling factors. Now to answer your question, all retail traders can lose, because the winning side is the commercial traders. Simple.
Is this the reality, who knows. Trading is a self-fulfilling activity, with no proof of success from others with a 100% guarantee stamp of authenticity. Yet we all try…
how do commercial traders become commercial traders?
The pros trading for banks
What did they study in college?
How do they get into the industry?
I know a smart trader who started forex trading 5 years ago now he is a successful and profitable trader. He is quite rich with this business. I get inspiration from him to come to forex business. He is also helping me to learn trading.
A family friend, he’s about 50~60 (nearly 60)
Lives in a nice condo, drives a nice car, family has no financial issue…
I should just invest him… let him manage my money actually!!!