Oh, this profession does make sense. I guess, it would be much easier and better, if everyone would be honest. Then it would not so hard to give advice and learn from other mistakes. Since now people are misleading each other and themselves. There are definitely a lot of users, who are trying to help and are honest. So if the majority, would act in such way, we as a community would take a giant step towards success. Now it’s everyone for himself. If we would act as a group, we just might get away with it 
I would have thought that the majority on here are well-intentioned. Trouble is that we are none of us perfect, so even well-intentioned advice is not always reliable. The way I view it is that this site is a great resource for advice and opinion, but I would never, ever enter a trade unless my own research told me that it was a sound idea. This site can certainly help someone gain the experience necessary to make sound trading decisions, a trader just has to make sure that they really understand why they are in a given trade at a given time. If we stick to that, then the odd person pretending that they are more successful than they are can become amusing rather than problematic, in my opinion.
I have started to make money playing with a paper money on a MT4 Platform; I am in a phase where I do more wins than losses but I have not yet known a person that makes a living having a Forex bussines. Since statistics says that only 5% are winners that means that it is not easy to spot a person that belongs to this 5% in a bussines that is global. Also I wonder if this 5% of winners are the Market Makers and brokers that run Forex Business.
Lol, well i have read that many people dont make money on forex, and i have seen some of the blogs in meetpips, showing that some lost money over and over again.
Id like to say that i have and continue to make money trading, in the last year i have made 27% of float (my first year), and have even this year i have made to date 113 pips. which works out to about 4%, i am continuing to learn and improve my trading technique. my goal is to make 5-6% per month on average. If you want to look my profile on meetpips is paulaelli
I make a living trading Forex and am not a market maker, I sell nothing and have no ‘Forex Business’. I am a privateer who knew nothing about Forex before I decided to give it a go, and my previous career was entirely unrelated. I know a number of other traders personally, too, many of whom make a good living, too.
I don’t know how accurate the 5% figure is, but I can assure you that there are people out there with no industry ‘inside track’ who make a good living at this. I know a number of other traders personally, too, many of whom make a good living, too.
I wouldn’t say that Forex is a [I]big [/I]illusion but that there are a lot of people that want you to think that it’s nothing else than making money easily. You already named a few: broker, authors, affiliates, blogger, etc. All of them want you to believe that everybody can make a fortune with Forex. I can only say that it’s possible to make a living but not as easy as described sometimes.
Forex is like any other job. If youre good at your job you will get rewarded in some sort. A good musician has to practice a long time before he can make a living playing. The illusion from rags to riches in a few days or month is just a catch in forex and like in any other profession. Only a few people live their dreams without much effort but the rest of us have to work really hard for this dream to be coming true.
True, but that is true of a lot of areas of life. Many people with something to sell exaggerate the benefits of their product, that does not mean that the product is not worthwhile even when you strip away the sales patter. For instance, a sportscar can still be a lot of fun, even if it will not actually make you immediately more attractive to the opposite sex.
ST
I only have heard about the trading processes that are done in it… What I know about is that this game is played on the basis of assumptions…!
We’ve always been taught if it’s to good to be true then it must be. I thought this as well about forex trading when I first started looking into Forex. Trying to research it and go to the forums and review sites only confused the situation more. We never know if what we are reading is real or a scheme.
As I started talking to friends about what I was wanting my new venture to be, I found out that a friend of mine that I have known most of my life, her husbands father is a forex trader full time. That is all he does and he does it very well. I got to meet with him and speak with him and he helped change my mind and actually give it a try.
I have now been doing it a bit over a year. I started with a small investment, and now I am able to stay home and make trading my full time job. I’m not rich (yet) but I am able to live more comfortable then before.
What also helped was getting involved with social sites and forums.
I’ve also found that having a signal system helps especially in the beginning when learning how to follow the trends.
Forex Trading can be very risky but it can also be very rewarding with the right tools behind you. Good luck, just wanted to share that it can be done :27: don’t tell…
Forex is one kind of business which could be started bye anyone who want to invest their money. It requires proper guidance to invest money. You must be alert with current market affairs and activities so that you can get more profit of your money.
I don’t think that such people are just walking around and wait for you to meet. But sure that they exist. I know some traders that makes money form month to month but this not their main income. Something between game and hobby.
All i know is i have been working in investment banks for last 5years, and there is hundreds and hundreds of traders. How do you think if they would be making minus profit for the bank would they be still working here? I know and knew lots of traders who are millionaires and i Know 1 guy from HSBC tower london who is driving each day different car and his bonus for 2009 was 10mil+ so this is what i know, but they dont use forums and they dont trade forex, they trader other stuff, but if they can make it there they can make it anywhere…(my opinion)
[QUOTE= For instance, a sportscar can still be a lot of fun, even if it will not actually make you immediately more attractive to the opposite sex.
ST[/QUOTE]
You mean to tell me that driving a sports car wont land me a hot date!!! DANGIT
hahaahaha
I simply meant that at the initial point of sale, using enhanced sex appeal as a selling point is not directly true in all cases. However, the inner calm and self-confidence that comes from having traded your way to that sportscar? I am sure that that can work wonders…!
Most successful traders are silent and don’t hang around the forums, you will be very unlikely for traders to reveal the truth about there accounts, only the amount of pips that they make not there position. Believe me there are lots and lots very profitable forex traders out there.
Yeah, but there are lots more unprofitable traders out there.
Maybe so, but in this game I think that it is important to compare oneself with the winners rather than the losers. If some people make good money at this, then that proves that it can be done. If it can be done, then don’t let the fact that many people make a hash of it act as a deterrant.
True, good point.
Afraid I aint met no-one. I do know someone at state street bank who has a fair idea when moneys are being exchanged. substantial moneys which would shift the currencies but unfortunately he’s sworn and not allowed to trade otherwise he’d get the jail. if you had access to this info, then you’d prob be in with a shout. Without this it’s extremely difficult although i don’t think yet, impossible.
why is it that we can do well on demo accounts? i think tradings in the head most of the time. control this and you’ll do well. too many silly mistakes on my part n i know what they are but can i stop em? NO!
when i was younger i had $ 250 in an account with FXSolutions (my first trading account). My first trade on GBPUSD was at 1:29pm on a Friday. it was non farm payrolls day but i was none the wiser. on 1:30pm i was margin called and left with $56 lol… I deposited the loss whcih took me back to $250. from here i built this balance up to $30,000 (roughly). this is completely true, (swear on my little girl). i was trading USDJPY at $57 per pip! It was exciting and i thought id cracked it but got too ****y and remember a trade on GBPCHF which i lost $7,000. this was the beginning of the downfall. $30,000 seemed like miles away and i frantically traded to get back to that but never did. My FX Solutions account is still active with $1.37 which is the margin requirement on NZDUSD (the cheapest pair to trade) at $0.10. It was exciting and a real thrill to trade these sums of money. I made $2,500 on USD/JPY in 5 minutes! So, is it possible… i think so but don’t get ****y. I thought i couldn’t lose. My downfall… do i regret it? mibbys a little bit. If i had kept a cool head at $30,000 who knows where i could have been. i took a break from Forex for a while but i love trading. it’s such fun so if you don’t make money off it, treat it like entertainment and you might do better. relax with it and don’t trade moneyu you can afford to lose. If you trade with scared money you would be as well giving it to me
hope sharing my experience helped.
All the best, Mikey