Can I make a living trading forex?

[talhayousuf]

Yes, of course!

Forex is a place where traders can speculate and earn money on price movement. Forex is a job absolutely the same as other jobs, IMHO.

Let’s compare Forex trader with cashier in the store, bank employee, and forwarder in a logistics company:

1. Beginner who wants to work as a cashier will have to learn how to use cash machine, count money and customer communication, only 3 main functions. It will take not more than 1-2 weeks to become good cashier in a store. It will bring money for living.
2. Beginner who wants to become bank worker will have to be familiar with financial sphere, probably pass banking courses, work with specific computer programs, be ready to communicate with customers, and work with money. Become good bank employee will take some weeks. The higher position in the bank, more need to learn and know. It also will bring money for living.
3. Beginner who wants to be a forwarder in a logistics company, will have to do more functions. As minimum need to learn information from Internet or pass some courses – to understand how logistics works, etc. Then it is necessary to start communicating with customers, offer good services conditions, provide specific information about cargo, documentation and so on. It will take some months to become advanced worker in this profession. It will bring money for living as well.
4. FOREX – Beginners who want to become successful Forex traders and earn money for living will have to:

• MAIN rule – don’t expect that Forex will bring you profit when you start trading, so you have to get somewhere money for living, while you are learning Forex and reach the point when Forex brings you amount of money that is comfortable for living.
• learn Forex information by their own, searching it in Internet, watch some courses, or visit a local city Forex courses. Everyone choose his or her own learning method.
• Practice trading on Forex terminal that you chose. I recommend to practice on demo account, so you could increase your trading skills and experience without spending money.
• Find or build your trading method that will have loss-profit ratio as minimum 1:1+, so you could get more profit rather than loss.
• After you reach the aim for getting more profit than loss, you move to real account and start trading.
• Strictly follow your trading strategy rules, don’t trade on emotions, and control money management. In a result Forex trading will bring you profit for living.

All you need to know about Forex Trading Signals check this out:- https://www.top10tradingplatforms.com/forex-signals/

Some traders are fast learners and start trading Fore after several months, but some learn slowly and it can take years. Don’t give up, and always go forward.

You can see now that any job you would do, need to learn, and every profession need different information and time for learning. In any profession you will earn money for living.

So, Forex can also bring you profit for living, everything depends on you.

Wish you to be independent Forex trader!

Dorrow Green

 

[Shallen Berry]

To be educated for trading very nicely, there is no alternative. For developing a trader’s skill there are several ways. Brokers are now offering different sites to learn the basics of Forex trading. Thus, I join at ForexOne for my trading and to be well- educated. They offer a wide range of educative sessions as training. In their educative program’s trader get- video tutorials, demo account and Forex glossary etc.

 

[aylkev]

Is it really possible to make a living out of it, i get the fact that trading gives you extra cash and stuff and I've done it time to time, how it possible someone give me an example please?

 

[theforexarmy]

Anyone here trading full time? Are you profitable in the long run? Able to sustain yourself with just trading?

 

[talhayousuf]

To be educated for trading very nicely, there is no alternative. For developing a trader’s skill there are several ways. Brokers are now offering different sites to learn the basics of Forex trading. Thus, I join at ForexOne for my trading and to be well- educated. They offer a wide range of educative sessions as training. In their educative program’s trader get- video tutorials, demo account and Forex glossary etc.

yep

 

[alvarogj]

The only way to make a living from trading is to get a very good education on it. Even though it is very hard to do it.

 

[frodo77]

The odds of being a successful trader are stacked against you. However studying and hard work makes it possible. There is no shortcut.

 

[mlawson71]

Right one can make quite a bit of profit from the massive movements of the market if you manage to do a good analysis.

 

[nikolayvn]

i think yes but it will take time and losses until you learn how to do that

 

[Robert Hills]

To become a trader is easy but to become a successful trader is tough. If you want to become a successful trader, you need patience, desire, luck and most importantly a bunch of knowledge about forex. You need to take right decision on right time. You also need a support while trading in the market. I use TP Global FX as my support. It always helps me to take right decision on right time at right place.

 

[Gilbert.Jer]

The short answer is: yes, you can make a living trading forex. But: It is not easy to make consistent profits. 60% of forex traders lose money, and this is a conservative estimate. As they say: “The best way to end up with $1000 in forex is to start with $2000”

 

[scalp.king]

Yes, of course!

Forex is a place where traders can speculate and earn money on price movement. Forex is a job absolutely the same as other jobs, IMHO.

Let’s compare Forex trader with cashier in the store, bank employee, and forwarder in a logistics company:
View attachment 5348

1. Beginner who wants to work as a cashier will have to learn how to use cash machine, count money and customer communication, only 3 main functions. It will take not more than 1-2 weeks to become good cashier in a store. It will bring money for living.
2. Beginner who wants to become bank worker will have to be familiar with financial sphere, probably pass banking courses, work with specific computer programs, be ready to communicate with customers, and work with money. Become good bank employee will take some weeks. The higher position in the bank, more need to learn and know. It also will bring money for living.
3. Beginner who wants to be a forwarder in a logistics company, will have to do more functions. As minimum need to learn information from Internet or pass some courses – to understand how logistics works, etc. Then it is necessary to start communicating with customers, offer good services conditions, provide specific information about cargo, documentation and so on. It will take some months to become advanced worker in this profession. It will bring money for living as well.
4. FOREX – Beginners who want to become successful Forex traders and earn money for living will have to:

• MAIN rule – don’t expect that Forex will bring you profit when you start trading, so you have to get somewhere money for living, while you are learning Forex and reach the point when Forex brings you amount of money that is comfortable for living.
• learn Forex information by their own, searching it in Internet, watch some courses, or visit a local city Forex courses. Everyone choose his or her own learning method.
• Practice trading on Forex terminal that you chose. I recommend to practice on demo account, so you could increase your trading skills and experience without spending money.
• Find or build your trading method that will have loss-profit ratio as minimum 1:1+, so you could get more profit rather than loss.
• After you reach the aim for getting more profit than loss, you move to real account and start trading.
• Strictly follow your trading strategy rules, don’t trade on emotions, and control money management. In a result Forex trading will bring you profit for living.

All you need to know about Forex Trading Signals check this out:- https://www.top10tradingplatforms.com/forex-signals/

Some traders are fast learners and start trading Fore after several months, but some learn slowly and it can take years. Don’t give up, and always go forward.

You can see now that any job you would do, need to learn, and every profession need different information and time for learning. In any profession you will earn money for living.

So, Forex can also bring you profit for living, everything depends on you.

Wish you to be independent Forex trader!

Dorrow Green

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[scalp.king]

The short answer is: yes, you can make a living trading forex. But: It is not easy to make consistent profits. 60% of forex traders lose money, and this is a conservative estimate. As they say: “The best way to end up with $1000 in forex is to start with $2000”

Those who make the money in the forex market are the ones who don’t try to predict tops and bottoms and how far the market will move but who consistently take a little out of the middle of the trend with minimum risk, The only logical way to do this consistently is through a well thought-out, well-designed strategy ,For me, strategy trading is the only answer to the problem of fear and greed in the forex business; it is the only logical way to take advantage of the concept of Market Facilitation. First, trading a strategy provides the discipline necessary to begin overcoming fear and greed. Trading a strategy that has been back tested on historical, quantifiable data is a major way to inject discipline into your trading and to begin to control your fear and greed. If we think of a trading strategy as a small business, we can design our business to make money based on historical simulations. Then, our job becomes the implementation of the strategy rather than the interpretation and prediction of the market. If the strategy loses money and busts, we change the strategy. It’s a matter of good business sense. Second, if we know that the market must facilitate trade and trend to stay alive, we can devise strategies that guarantee that we will always be in for that inevitable big move. If we know that the big move will eventually come, and devise the strategy accordingly, our task becomes to minimize the drawdown while we wait. I have never been able to predict when the market was going to facilitate trade and get in for the big move. Instead, I have devised strategies to ensure that I will be in for the big ride and my losses will be minimized while I wait. It’s just a matter of good business sense. As a businessman, I have concluded that the only rational way to trade the markets is to trade a strategy. Predicting when the market will move up or down, and how far it will move is just probability and gambling

 

[Sherverty]

Definitely yes, you can make forex as living but before start, you must learn skills of trading and these skills will help you to become successful. Always make the right plan and strategy and trade according to plans.

 

[ayyad1994]

I love martingale robots they are better than technical robots they take trades on the go without waiting

 

[k9898]

Maybe but you should start with it as a part time occupation and only go full time once you have savings and have some statistical confidence that you will be able to sustain yourself and your family in years to come.

 

[abdou.loco]

i think you can but you need to have the knowledge how to approach it and to know how to overcome your feelings greed and fear because the psychological aspect is the most dominating in trading

 

[jmd1982]

Key factor: never risk more than 1-3% of your account on any trade and you should be able to stay in the game for quite a while.

 

[firehand]

trading for a living.. really nice phrase.. i believe we are here have the same goal and currently struggle for this.. keep learning & consistent. a reminder for me dont afraid to cut loss..

 

[fx_glory_4]

Yes, but you need to have proper training and practice risk management.