I have recently started getting into the school here, and want to learn everything about trading before I even begin to practice.
Prior however, I am curious to know if there are any folks on here who really pocket good money… at least $1,000US a day?
I’d love to hear what some of you folks are doing.
So whose rolling it, I’ve heard too many stories of the folks who lost their shirt! :eek:
there are people here who do make good money. There’s several blogs here that chronicle it too. However, 1k a day seems like way more than most make. You should set your desire lower…like 1k a week or a certain percentage a day/week.
You’ll get many more possibilities then instead of maybe one person.
I don’t think anyone here is making that kind of money yet, your idea of good money is a little high in my opinion. 
Plus the amount of money you make isn’t really a good measure of forex success, percentages are much better.
I make around 5% per week, and I’ve doubled my account a couple times since I started trading early last year, but my actual dollar amounts are still pretty low because I only had a small amount of money to open my account with.
This question has been asked before on this forum.
You are not going to get an answer.
The money people make is private. 
It certainly is in my case!!
Not only that, posting profits on a public forum, where theives, terrorists, hackers and all kinds of undesirables can watch, [U]is certainly not a good idea.[/U]. 
where theives, terrorists, hackers and all kinds of undesirables can watch, is certainly not a good idea…
yea not to mention ex-wives
lol! Speaking from experience there, Johnny?? 
Amtrak - the interesting question here is: why do you ask?
To me such knowledge is pointless as it will not help me in any way in my own trading.
Besides like someone said - you won’t get an answer. And if you did how would you know if it were truth or lie?
Though I myself am still learning on a small account I do know one trader who know longer participates on BP who makes way way more than 1000.00 per day. But as others have pointed out it is fairly useless knowledge…some are losing, some are breaking even, some are making little and some are making gobs and gobs of money. The only thing that is important when starting though is to learn how to consistantly make pips in any market. When that is achieved then the money comes.
lol! Speaking from experience there, Johnny??
in a word yes.
ive been thinking of going on vacation to the caymen islands lol!!!
as simple as that
In any case, forum or real life, it’s best to keep your finances, private. The profits, private.
Forget about a grand a day. Start with a goal of $10 a day in the market. Start with a goal of $20 a day in the market. Compound and grow small accounts first. If you can’t consistently grow small accounts, you will never be able to grow a larger account. In fact, don’t trade a large account until you have grown a small account to a significantly large figure first, multiple times. And never increase your risk percentage.
My only advice is you will never learn everything about trading, but you can learn as much as you can and it’s a learning process that will span your entire trading career. What counts is your passion, time devoted to education, finding out exactly what type of trader you are, understanding yourself when you are in the market, and most importantly your discipline when you are in the market. When I say discipline I mean your willingness to always acknowledge and accept and cut your losses quickly, within seconds, before they become large. Never risk any more than 2% on any given trade. With time you may be able to gauge certain trade opportunities to increase your position size (risk) based on the reward to risk ratio, but this is for experienced professionals only. Until that day, if it ever comes, stick to 1-2%. Your discipline to strict money management, risk management and proper position sizing is essential and the only other essential aspect other than that is sticking to your method or system you trade and the rules and not changing them, give your trading style a nice time period to work, so you can gauge if it’s even worth taking live. Like Phil mentioned, it’s all about percentages, it’s all math. And I encourage you to develop, or find a system that works for you, that puts the winning percentage on your side, with that, and the money management, you’ll find success, slowly. Crawl before you walk, walk before you run, run before you jump. And when you can’t jump or run, lower your risk, lower your position size, and go back to a crawl until you get back in sync. All of this may not make any sense to you now, but it will in time. I wish you the best.
Don’t be a gambler. Respect the market as it is always right. And don’t expect to be making a grand a day any time soon, or ever for that matter because it’s not important! Focus on the percentages and the math and managing your money and compounding. Longevity is the key. As your account grows, if it ever does, and continues to grow, and you stay disciplined and keep your profits as the market doesn’t give them out easy and is quick to take them back from greedy undisciplined traders, you will be on the road to capital gains, with those gains, same 1-2% risk, but greater rewards.
There is a lot you have to learn, be prepared for thousands and thousands of hours of studying and reading and learning and applying because this is not easy. And only time will tell if you have what it takes. You will find the the most basic aspects of trading revolved around your exposure to risk and how to protect yourself and be disciplined. Like I said, it’s all simple math and percentages. Always have a calculator near.
Trading is not for the weak, never trade blind with real money, and never underestimate your risk. The market is always right and the market will humble you, it will frustrate the hell out of you, it will send you back to the drawing board many times, it will kick your ass over and over until you learn.
I do know people who average a grand or more per day, those few I do know, have been trading for 15+ years.
ya…they seem to be worse than thieves, terrorists, hackers, and the tax man
Look at tymen’s icon, he is running around everyday with 2 bags of gold!! what does that tell you?!
Heh, heh, heh, heh, heh, heh!!!
Herbie, if that’s your live account you should edit or remove the .pdf
It’s easy to get your account number anyway. I tried but couldn’t find a way to PM you.
[QUOTE=tymen1;112975]Heh, heh, heh, heh, heh, heh!!!
TOO FUNNY!! :)
thats great and all if it was a live account- that stament is demo
i trade my live from fxcm - no requotes…but trade off the metatrader platform…with the fxcm buy/sell button on the charts…i place same trades
Having 10 mins to spare I felt I should take this time to "search"
the forum for an answer to this much used question, incidently the
list was 10 pages long.
1st asked here. 301 Moved Permanently
http://forums.babypips.com/forextown/951-how-you-make-money-trading-forex.html
there are a lot more.
It also interested me to learn who answered these questions &
who if any were still around?
Using a forum correctly is very similar to forex trading, it just takes
a litttle bit of time to understand the basic concepts, a little bit of
digging then hey presto! it all falls into place.
PS It seemed to me that generally the people who asked this type
of question were “jackpot” chasers or “get rich quick merchants”
“There is always somebody who thinks they can ice skate up hill” Wesley Snipes in Blade
:wishes: daydreamerforex
hey how have you been doing? You still trading etc? How much have you made or are making?