I just want to hear that it can be done. All I seem to see posted online(and i’ve checked quit a few forums) is people trading with micro accounts hoping to hit it big, or just mere speculation of making a living if such and such profit from a demo account can be repeated with a real money account.
Is there anyone out there who is actually making a good living trading FOREX Full time?
My definition of a good living is making a income by trading FOREX of at least as much as what the average professional makes after working years in their career. In the United States that would be 75k-100k a year.
I imagine it would take at least 100k a year to be a Full time Day Trader and be able to make a decent salary, assuming 10% a month is reasonable and sustainable over long periods of time.
I’d say you’re asking this a little to soon for me to give you this proof!
I’m working on this exact concept though as we speak, here is a preliminary set-up which i’ll be using.
>>> BFX Equity Management
I’m about to go travelling and working with a friend of mine, an opportunity which I just couldn’t pass up to see the world before settling down trading full time again.
I believe there are. But for two reasons they are hard to come by.
It takes a big account to make a good income (using low risk). $1000 to $1 Million even at a 10% compounding rate per month will take quite a few years.
The lack of good information in this business. You never know how much people are making. Even if they claim to be successful, there will always be naysayers. When I first started, I was on a journey to find successful traders and found maybe a handful who’ve had days where they made $10,000. I was never able to verify their total net profits because no one tells you how much they make. It’s like taboo to ask…
With that said, there are a few myfxbook’s that are over 500k equity (real money) that was just posted but I can’t find the thread.
EDIT: Let me add that I’m not making a good living trading forex (full time salary) and I doubt anyone who’s replied is.
Everyone can make good living from Forex trading and there is very large number of Forex traders earning consistent profit and making their life more comfortable. It depends on the traders knowledge and experience which enables them to achieve the target of consistent profit.
In my opinion, rather than wasting your time on a broad question which you’re never going to be able to verify and even if you could so what? All that means is person x made 75 – 100 thousand a year and even if they told you how they did it and didn’t embellish a bit, it still wouldn’t help you. The first thing you need to know is trading is situational and everyone’s situation although can be similar, they’re never the same.
This is what all successful traders have in common. First they learned to crawl: next they learned to walk: next they learned to run and then they learned to sprint. Each successful trader even though they followed that path, the way they achieved each of those steps was/is different based on their personal situation. Example: age, currency experience, family situation, money situation, education, employment situation,
So first question is why do you want to be a trader? Next question is Will trading give me what I’m looking for? From their you will have your mission statement. You’ve conceived it, now you have to learn how to achieve it by planning then working your plan. 1st step is crawling. Crawling is where you start with babypips school, questions and following in the fourms. All designed to give you a solid foundation so when you start to walk, you’ll be able to ask better questions, and make decisions based on relevant facts, options and evils.
Another thing all successful traders will tell you. Yes you can make whatever money you want by currency trading and on the flip side of that coin is you can go broke quick. The only thing that will decide which road you’re taking is your decisions.
lol if you believe Master Tang. BRB I make several figures per year trading from a golf course trading lower highs and lower lows. Oh, and I lost several figures when PGF best went bust in 2011. Oh and you can make a living in the Western world and compound off trading $10k from your golf course. Btw I won’t provide any myfxbook proof. brb better get back to making furniture for living.
Yes I live off of trading. Almost two years now I’ve had no other source of income. But I won’t put up a MyFXBook account for you nor anyone else. It’s just not worth the bashing.
I’m not selling anyone anything, I just say it can be done.
Now, if I was pimping my trade style I would feel the need to post proof. But since what I do has been well publicized in the Technical Templates threads, I don’t need to do anything other than tell you it works. So go choke on your sour grapes.
No, what you done hasn’t been publicized because there is no proof. There’s even less evidence than ICT publicizing his trading in his ICT trading threads. You don’t have to prove yourself, but quite equally you can expect that no one takes you or your claims seriously.
How long is this hiatus from trading going to last? Nice web site, I haven’t seen anything like it. Hopefully you’ll prove to be a success and inspiration to others. Because a Full time FOREX trader whose making a good living seems Rarer than a Snow Flake in Hell.
I take Master Tang’s claims very seriously… no reason to doubt him!
Instead of worrying about who is making money and who isn’t making, I would suggest folks read the Tech Templates threads. Some might even find the yellow brick road.
I read that post too where he said he was able to make a living on Forex with just a few clicks of his Laptop or Smart phone and minimal screen time. It seems unlikely but I suppose it’s possible.
Where did he claim he was making a living trading a 10k account? Now that is impossible…even if you were to make 20% a month consistently you’d only be making 2k a month. 2k a month is barely enough to pay the rent in most US Cities.
Exactly 2k for the rent/bills for a husband and wife, 1k for the food and still have room to compound? Plus extra for a “nice living?” All from 10k. Up to 7 figure account? Sure…
Making a living and being able to reinvest some of the profits into your account with only 10 to 12k? Well all he’d have to do is make 100% a month on a consistent basis.
I read that post too where he said he was able to make a living on Forex with just a few clicks of his Laptop or Smart phone and minimal screen time. It seems unlikely but I suppose it’s possible.
Where did he claim he was making a living trading a 10k account? Now that is impossible…even if you were to make 20% a month consistently you’d only be making 2k a month. 2k a month is barely enough to pay the rent in most US Cities.[/QUOTE]
I have never seen him say how much he make . He doesn’t need to prove any thing .
He mite only have $10k and make 10% a month . For some ppl $1,000 usd is alot of money
I know ppl that retire in Asian country with $200k as their interest from Australian banks and tradingis a enough to live comfy in a cheap Asian country
50% of the worlds population live on less then $10 usd a day . ( mostly Asian country )
Yes I live off of trading. Almost two years now I’ve had no other source of income. But I won’t put up a MyFXBook account for you nor anyone else. It’s just not worth the bashing.
I’m not selling anyone anything, I just say it can be done.
Now, if I was pimping my trade style I would feel the need to post proof. But since what I do has been well publicized in the Technical Templates threads, I don’t need to do anything other than tell you it works. So go choke on your sour grapes.[/QUOTE]
Keep up that good work mate .
You will fine that ppl that show their account and trade are doing it for their ego or are trying to sell some thing .
I’ve book marked it and will be looking in on a regular basis. Very best wishes on your new adventure.