Is Forex truely profitable

Is forex truely profitable ,because i search forex copy services,many of traders which say professional traders gain and after few days their account vanish,

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Wrong question! :slight_smile:

It is not forex that is profitable or not, it is the people that (try to) trade it!

Forex rates just move up and down.

All you have to do is:

  • Predict which way

  • Plan where to exit when right

  • Plan where to exit when wrong

  • Decide how large a position to take

  • Balance all the above to provide a positive expectancy of net profit

Afterall, if everyone blew their accounts within a few days. including the “professionals” that you mention, then there probably wouldn’t be forums like this one to write about it on, would there?

Concentrate on what you are doing right and not what the rest of the world might be doing wrong, and you might start to get somewhere……

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its a complicated issue , professional traders know how to manage money and trade , only beginners always vanished their balanced by over trading.

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Do you earn from forex ? :blush:

Are you asking me in particular or people here in general?

Either way, it is again the wrong question! :smiley:

If I, or anyone else here earns from their trading, does that have the slightest relevance concerning whether you will earn from it?

And if I, or anyone else, answers yes, or no, how will you know if that is true or not? :slight_smile:

In truth, the actual answer is yes and no! Every trader wins some and loses some. The real issue is whether the gains exceed the losses consistently over time.

So your question should really be “can I earn from trading forex” not anyone else - and then put your heart and soul into studying and practicing and learning until you get there. Without your work input, you will not enjoy the fruits of the output. It is really as simple as that…

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it can be profitable if there is powerful analyzing trading strategy including real money management.

Dont use copy provider, or someone who one to sell a EA which say very profitable,

We make profit if somebody else loss

copy services , its all about temporary ,
nothing for permanent solution.

everything is temporary in Forex trading even profit ratio, nothing permanent in here.

Unfortunately for the majority of retail traders the answer is unprofitable. There are a number of factors that contribute to this. Chief among them is inexperience. To become consistently profitable requires a level of dedication bordering on obsession, several years practise and rigid money management. Then factor in the formulation of a consistently winning strategy and mental fortitude. Then and only then, to answer your question, can forex be truely profitable.

Profitability of trader depends on many factor of his work style and the market. There are many points like management, emotions etc… can effect the profit and loss of a trader.

if there is any emotions , there is no profit , only emotions the major problem for successful trading. so, we have to control emotions when trading

It’s easy to make money trading, if you have a solid trading plan, and your plan allows your win size to be much larger than your loss size over time. Most retail traders trade such that they let losers run, hoping they come back, and cut off winners. This creates a bad risk to reward ratio, which statistically speaking, must result in them losing money. You must also keep in mind that, with Forex brokers, you have no guarantee about your money. If your broker goes out of business, your money can be used to pay your brokers debts. Your money can just disappear, poof. If you trade futures in a stock, options, futures account with someone like TDAmeritrade, you can have your money stored in a separate FDIC insured bank account. The top 15 banks make up about 86 percent of the volume in Forex. They don’t have to worry about the safety of their money. You do!

managing money and having a powerful strategy always supportive to bring profit consistently , but what you think trading strategy always work ?

Whether forex will be a gainful profession or not will depend on whether a trader can make result from the situations prevailing in the market. And to do so, every trader will necessitate adequate understanding of trading tools. Thereby don’t give focus on irrelevant factors. Give focus on your knowledge acquisition process.

Hi Ahsan. There is no strategy that will return a 100% win rate. And no one strategy. First you must decide what style of trading suits your personality and lifestyle. Second design a strategy that best fits your trading personality and lifestyle. As an example, at its simplest, I now (having tried many strategies and time frames) trade the daily and weekly chart as one.This best suits my trading style as a trade will typically last anywhere from a day to a week. I would suggest whatever strategy you eventually decide on, you demo test at least 100 trades using your exact same rules of entry and exit. More would be better. That will give you a statistically relevant sample set of results. You can then decide (if the strategy is working) whether to try and refine the strategy to increase positive expectancy. Or if happy with the results, go live?

Every strategy is improved by two things -
cut losers early
add to winners

Cutting losers early means you will not get wiped out early in your career or due to a price reversal on a big trade. This is a plan to not lose or to break even. This is not good enough, we are not in trading to break even. Adding to winners makes the real profit.

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I think fx is profitable. I don’t think people would continue to keep on trading if it isn’t. I guess the reason why the copy services you see vanish is because they really weren’t in it to earn from trading but instead to earn from people who copy their trades. If I earned so much from trading I don’t think I would be spending my time looking for clients to copy my trades. I would instead focus on my own trading.

In here the better question is not - is forex trading profitable,

The better question is - Should I be Trading Forex? And if so, How Can I Trade Forex Profitably?

So how to be a profitable forex trader? The first step is, Get your mindset right. Forget about the get-rich-quick scheme and cultivate a longer-term mindset.

After that be Engage with the market with a proven trading strategy.

What do I mean by engaging?

Engaging mean you have to stay active on market. Especially for beginner traders, this is the only way to gain experience. By doing that you can taste winners and losers, you can learn how to manage risk and money and overall you will find is forex trading suits for me or not.

Next Your question - Is Forex Trading Profitable?

It is very profitable, again only for traders who cultivated a long-term mindset.

Speaking of long-term, let’s see how much can you earn from trading forex over the course 10 years.

Assume that your trading is $5K and you have a proven trading strategy which helps you earn 50% ROI annually. Let’s Compound this result for 10 years.

Screenshot 2020-11-17 093943

So, after 10 years, your trading account worth $288K which huge return. With this amount of trading capital, you can make living out of trading, right?

So again, Yes, Trading Forex is Real and It is Very Profitable Income Stream.

And Finally, Never rely on anyone. Learn by your self and be an Independent Forex Trader.

Depends on thee trading skill and the amount of risk you take. As a beginner in forex I am prepared to face the risk and will try to keep the loss as minimum as possible.

Will trade with few lots and pips at the beginning stage and when profit seeks to be more than loss will invest more into forex.

Conclusion : It is profitable for those who are ready to accept risks and also learn.