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 think he said he lived in Condo in Las Vegas. You can’t not make a living off 1k a month in Vegas. The only way you can make a living off 10k Forex account is if your living in a 3rd world country like the Congo where the cost of living is 100 times less than in the developed world.
Don’t confuse “how much is in an account” with “total trading capital”. I rarely have much more than 10% of my “total trading capital” in my FX account. The other 90% sits safely in a fed insured bank account. One of the benefits of 50:1 margin.
Regardless you can’t’ make a living trading a 10k account, much rely on your Forex profits from a 10k account to pay your mortgage on a plush condo in Las Vegas.
He said it’s possible to make a living trading FOREX with 10k to 12k. That’s not possible. How does having more money in the bank make a difference? He didn’t say he was living off 10 Million dollar in interest he said it was possible to make a living off a 10-12k account because he has done it.
I would say that being able to live off trading basically depends on your expectations of life and how much you need to be happy…
And don’t forget that in forex you never know how much you will make the next month, you don’t have the security of the paycheck of a ‘normal’ job…on the other hand what job can be considered secure these days?
I imagine there are a lot people making their living with forex, but most of them are just making their money and living their lifes…not feeling the need to post their trading success in forums…
My account makes my living, and enough to compound. I also trade several others that make decent money as well. I make money off trading those accounts in addition to my own.
And yes, it is entirely possible to make a living off a 10k account without overextending it, or overleveraging, and risking much less than you would imagine. And even having enough to compound. I didn’t say I lived like Donald Trump, I said simply I was comfortable. I don’t have monthly bills. No credit debt, no car payment. Just monthly rent, insurance, and utitlities (phone, cable, and electric). I don’t see the point in buying a home right now. If I can’t pay for it in cash, I don’t buy it. You would be surprised at how cheap life can be if you don’t owe interest on every purchase.
[QUOTE=“Master Tang;532788”]
I don’t see the point in buying a home right now. If I can’t pay for it in cash, I don’t buy it. You would be surprised at how cheap life can be if you don’t owe interest on every purchase.[/QUOTE]
Dude…!!! Why would you not see the point in buying a home…?? Interest rates will never be as low as they have been again for a VERY long time… Between subdued house prices and low interest rates… Home affordability hit the sweet spot over the last two years! Rent is more expensive then a monthly mortgage payment for most of the country… shakes head
Ideally as the account grows… Investing in real estate and rental properties would be the logical transition … Passive income… Can’t beat it.
#1 I don’t want to borrow. When I buy, it will be cash. That will take a couple more years for most purchases.
#2 I can’t decide where. My wife and I are spending more and more time in the Pacific Northwest, and love it. Reno is still sort of home, but we both grew up in Hawaii, and miss it. Confusion rules at the moment.
#3 We can’t decide if we want to buy something already there, or start from scratch on acreage. That rules parts of Hawaii out, but leaves the Northwest wide open. I’ve found some stellar deals on anywhere from 3 acres up that I have enough cash for now, but would have to wait a bit to build what I want to. My wife wants enough land to be self sufficient. I feel that way somewhat, but who knows. I like city life too.
#1 I don’t want to borrow. When I buy, it will be cash. That will take a couple more years for most purchases.
#2 I can’t decide where. My wife and I are spending more and more time in the Pacific Northwest, and love it. Reno is still sort of home, but we both grew up in Hawaii, and miss it. Confusion rules at the moment.
#3 We can’t decide if we want to buy something already there, or start from scratch on acreage. That rules parts of Hawaii out, but leaves the Northwest wide open. I’ve found some stellar deals on anywhere from 3 acres up that I have enough cash for now, but would have to wait a bit to build what I want to. My wife wants enough land to be self sufficient. I feel that way somewhat, but who knows. I like city life too.
I’m curious how anyone of you who say someone can’t make a living with 10 or 12 grand in a trading account, if you don’t know the person’s trading plan or trading style. Example if someone said to us I have 10 grand in my account. 500 :1 leverage
I’m using PA, TA ,Fundamental, Sentiment or whatever My plan is to take trades that offer a 2:1 risk ratio and I’m trading off the daily time frame and trading 3 days a week. Now if you said no matter what trading method that person is suing there’s no way to make any kind of living off a 10 grand account I would agree as I’m sure most would.
But on the other hand what about the same 10 grand account with 5:1 leverage, with a trader who trades Monday to Friday only when the London and NY exchanges overlap and uses a strategy where the trader trades bigger lot sizes, more trades but smaller time frames, with a goal of increasing his/her account by 1 or 2% per month on average.
The answer may still be no to both, but before you can answer if it’s possible or not, don’t you need more info than what’s in the traders account?
[QUOTE=“gp00053;532812”]I’m curious how anyone of you who say someone can’t make a living with 10 or 12 grand in a trading account, if you don’t know the person’s trading plan or trading style. Example if someone said to us I have 10 grand in my account. 500 :1 leverage
I’m using PA, TA ,Fundamental, Sentiment or whatever My plan is to take trades that offer a 2:1 risk ratio and I’m trading off the daily time frame and trading 3 days a week. Now if you said no matter what trading method that person is suing there’s no way to make any kind of living off a 10 grand account I would agree as I’m sure most would.
But on the other hand what about the same 10 grand account with 5:1 leverage, with a trader who trades Monday to Friday only when the London and NY exchanges overlap and uses a strategy where the trader trades bigger lot sizes, more trades but smaller time frames, with a goal of increasing his/her account by 1 or 2% per month on average.
The answer may still be no to both, but before you can answer if it’s possible or not, don’t you need more info than what’s in the traders account?[/QUOTE]
The question really is… “What is a reasonable monthly account gain that can be replicated every month for the rest of your working life” … Once this number is decided on it is simple math to determine what account size you need in order to generate a middle class income.
