ok. This is my goal. Is it realistic?
Next one month i am planning just to read and fill my brains with information
Month after that i’ll planning to start with Demo Trading and do it for atleast 2-3 months. Once i feel comfortable start the real trading?
What u all think?
ya good luck with that, i’ve been trading now for 3 years, and basically , the third year is when i started making a decent monthly return. traded demo for also a year. i i’m what you consided a pretty bright cookie.
so good luck, hope your a smart one
p.s. you do have an advantage, i didn’t find this site until my 3rd year of trading, funny how i started making money right around that time 
I think Abners experience is closer to reality and mirrors mine. Also been trading fx for 3 yrs and only in the last year have I stopped making consistent losses!
When I first started I studied every night for at leaest 4 to 5 hours. Then I took a few weeks off and studied some more. A year later I am still studing about an hour every night. You have so much to decied even befor you can study like:
Thats about it and the order you have to do it in. After all of that then you can start studing and that may cut a year off your learning curve.
Good Luck
im afraid sir that it’s just not that simple…but uh…yea, good luck with that
The path is not easy and from the replies i see it might take 2-3 years to even look at some money. I am not going to give it up and let u all know how it goes in a couple of months.
I think for many the problem is that they always start off with the wrong expectations and beliefs about the nature of trading. I know that was certainly the case for me in the beginning. Faulty expectations will always lead you down the wrong path in trading.
If you want to make 1000.00 a month in trading you have to manage that expectation in relation to the risk you want to achieve to get it. Many people think they can achieve this with a small balance with no regard of the risks involved. That’s a dangerous thought. Learn about proper risk management and the appropriate mind-set and then you will live through your learning curve to achieve your goals.
Good luck
I read everything I could get my hands on while I demo traded for a few months. I made good money demo trading with some losses, and thought I was ready for live trading. Now, 6 months later, I’ve lost more than I care to mention, basically because live trading is so different from demo trading. Your emotions play a huge role, and my losses have come from dumb mistakes.
You have to realize that whatever system you deicide to use, you have to ride the market and not try to force it into your system. I’ve developed a hedging strategy, and it works wonderfully when the US economy is growing. Unfortunately, right now that’s not the case, so I have to have patience. It’s when I get impatient, when I cut corners that I make my mistakes and lose money.
Secondly, how mcuh do you plan to trade with when you go live? $1000 a month is a great goal, but think about reality. If you could get 1% a month, on average, with mutual funds, that’s pretty good. That would mean $100,000 to make $1000 per month. Hopefully you want to do better, so if someone said you could make 5% a month, that would be awesome! Even with that huge number, it takes $20,000 to make $1000 per month.
Reality says things are not going to fall into place right away for you, unless you are a forex savante. So I would suggest when you feel you have a grasp of trading, feeling confident, then begin trading with $500. Tests your live system for atleast 6 months, and see what you get on average per month.
At the same time, read and understand what the market is doing during that time. When you begin to learn what works when the market is moving in a certain direction, then things will begin to click.
[QUOTE=stevemcg;26948] basically because live trading is so different from demo trading. Your emotions play a huge role
So true and so very sad that so few people realise that we are programmed to lose in this business. The never ending search goes on for the ‘you beaut’ indicator with people not realising that banks with their highly paid PhDs and huge computer resources can do more than you can ever imagine yet the real thing to fix is yourself and that is a psychological challenge of the highest order
true… trading for a living is possible
Is anyone really making a decent money for all the efforts put in?
At this point of life i don’t want be wasting my time on something which is not going to return anything? U all know time is more valuable
Dude- You totally lost your ambition here.
I haven’t been trading long enough to speak with any authority, but everybody’s gonna lose sometimes. You’ve just got to keep at it. The advice these guys are giving isn’t meant to dissuade you- they’re just trying to help you be realistic about trading. If this is something that interests you, then it’s totally worth it! Keep at it man!
Making money in Forex is not easy. I honestly think its appeal comes from people who enjoy trading (or gambling) and probably is one of the harder markets to make money in.
Get out now before you spend too much time and go invest that money in a business for which you have some kind of passion. Otherwise, invest in mutual funds, major stock indices, or T-bills.
hmm …i’ll wanted to try myself. I have already lost a lot in doing different business so this shouldn’t hurt that much.
I’ll tell you what. There must be thousands of sites on the Web that offer a route into forex, (many are trying to make money from the high percentage of wannabees seeking fast buck for little investment in time or money), but I now know, that this one is has all the information a beginner needs for free. I am still trading demo and trying to follow the advice in the school as best i can. The prospect of earning a living from forex motivates me like no other business has in recent years. The true freedom that can give is the real ‘Holy Grail’ not just a trading system.
A business without demanding customers etc etc. = 'Utopia’
I have learned one lesson above all others and that is to excercise extreme self discipline with yourself and do not make casual gambles that seem ‘worth a punt’ against your rules and plan.
One of the sages here says that Forex trading must be treated as a business venture. I agree wholeheartedly and am adopting the same approach as I would in a conventional business. I suggest you do the same and plan accordingly.
My mentor (find one) says that the biggest single cause of failure is under-funding your forex account (i.e under-investment for the size of trades undertaken.) Imagine opening a corner store with a hundred bucks for stock. You would sell out in a morning or less and customers would not return.
Result = failure of venture.
I am burning to trade live, I have enough funds to do it now, it sickens me to see a trade make $300 on demo when it could have been real cash but I know that If i can’t be disciplined enough to follow my financial plan (demo trading first) then I will fall down on other crucial issues.
Good luck, I think we all need a bit of that too.
well guys, most of you newbies seem to have teething problems, yesterday i went live after 2mnths of demo, my hands were actually shaking with nerversones,I’ve started with $1500, now as we speak on my second day of trading my live accnt has $2400, and thats just the least,it would be mo if i held my breath a bit,but i must say success comes when you trust in Jesus that he will guide you in every move,I’ve learned so much that im aiming for $400 least a day,for the next 1 wk, i find it easy so far,but i must say my motivator also is to help the poor people and help re-build our church,oh and id luv a Range Rover 5.0 in the next year at least ,don’t give up guys, when your depressed look up, and ul find the ultimate source of strength and hope, be blessed pple
Do I need to join your church to get his signals or can I get them on e-mail ?
e-mail is best for me if thats OK 
Don’t listen to nay sayers or people that say it is not possible to make a living trading.
I know, and have spoken to, a lady that has her own mini hedge fund with $10m under management. She returns a consistent 30% return each year, charges her clients a 1% management fee and 20% of the profits, has no employees and is looking to build the fund to $100m within the next 5 years using this same model.
It can be done. It is being done right now
Good luck … let us know if you make $400 next week. I’d be interested in knowing what trades you made over the last two days that netted you a 60% increase. A picture is worth a thousand words …
That’s a nice motivator, but I’ve realized as a Christian myself, that God does not grant you a windfall of money just because you want to help the poor and rebuild your church. Trust me, if that was the case, I’d have been filthy rich a long time ago. It would be more practical to begin helping the poor and helping rebuild your church with your time and the money God grants you now. If not, well, if you can’t take care of the small stuff, you won’t be financially responsible for the big stuff. It’s a responisbility and a respect thing …
I don’t know who you are, so you may already be doing all this and maybe God is granting you some special dispensation. If so, good luck, and enjoy it while it lasts, because the numbers you are throwing out does not add up to anyone who has been trading a live account for more than a month.
So, goals are wonderful, but be careful, and God Bless …
Do I need to join your church to get his signals or can I get them on e-mail ?
e-mail is best for me if thats OK
I’d be interested in knowing what trades you made over the last two days that netted you a 60% increase.
maybe God is granting you some special dispensation.
the numbers you are throwing out does not add up to anyone who has been trading a live account for more than a month.
Yep email is good for me too. Maybe He could give us
some signals on Youtube as well.
:lmao: