Is it safe to trade Forex for Living ?

[aditologi]

Re: Is it safe to trade Forex for Living ?

 

Is it safe to trade forex for living?

Hey dude, all of us know that forex is an investment with high risk...

So, i think it will be safe trade forex for living when we are one of 10% success trader (90% fail, and 10% success)...

So, never give up to become success trader!! \m/

 

(sorry for my bad english #:-S )

[almadary]

Re: Is it safe to trade Forex for Living ?

 

am still learning forex here...

hope not only the big dog who have the credit...

[Kairos]

Re: Is it safe to trade Forex for Living ?

 

Its really all about finding a strategy that works and sticking to it. My friend trades for a living and does extremely well. As far as NFA goes, we both moved to UK brokers because we use bots that require hedging. Consistency is the key. He consistency makes money every week, where I do not. That's why he trades for a living and I work for a living.

[learningfx]

Re: Is it safe to trade Forex for Living ?

 

Hi,

 

First, trading is a form of gambling where we depend on some edge to give us some advantage

over other like some strategy, disciplines and patient. We as trader are 'playing' with risk.

Those who control it well will be great trader.

 

So, all form of trading are risky, however, if we take the time to learn, we can

be safe like driving a car, if u are not train, u will endanger yourself and other. On the

other hand, if u are well train, you can enjoy it. So it depend on the different edge you

see it.

 

Plus, don't place all your 'golden egg' on one basket, spread them out to a few basket.

So i not only learning to trade forex, I also learning other trading vehicles like CFD

and options.

[dpmdpm100]

Re: Is it safe to trade Forex for Living ?

 

It's dangerous for our financial health because it's so easy to loose all our money through greed, fears, etc (>90% of traders fail), it’s dangerous for our physical health (trading can put immense stress on our bodies) and it’s even dangerous for our mental health (traders can become the equivalent of pathological gamblers)

[bimbo]

Re: Is it safe to trade Forex for Living ?

 

If you have options other than trading choose it & learn to make positional trades.If you don't have options learn to trade carefully in small lots & then decide if you are right for it.

[muruku]

Re: Is it safe to trade Forex for Living ?

 

if we trade the forex market you must be prepared, that there are days that you lose, its impossible as a day trader to win every day. Thats why its important to have a stop/loss when you lose and when you win, protect you profit with a trailing stop, and know your equity.

[fortunenow]

Re: Is it safe to trade Forex for Living ?

 

personnally i think forex is too dangerous for making a living, you should also have another choices for living :-?

[MusicMaker]

Re: Is it safe to trade Forex for Living ?

 

I would like to make a living from forex, but it's scary thinking about the possible big losses. My health is not good, and I need to work from home, but forex seems too risky.

[Oindah]

Re: Is it safe to trade Forex for Living ?

 

Forex is the future. I am a forex trader. I want living from forex. Although I also have other professions.

But Forex is the best. Let be a forex trader Successful =D> =D> \m/ :D

[seifo005]

Re: Is it safe to trade Forex for Living ?

 

I don't think that we can trade for living simply because we can't know what will happen tomorrow :-bd

[muruku]

Re: Is it safe to trade Forex for Living ?

 

You can use all the normal ordering facilities such as limit/stop orders etc., however I don't know of any spread betting companies which use MT4, so you have to use their own charting facilities (which can be pretty good though there's not much scope for automated trading).

[Sledge]

Re: Is it safe to trade Forex for Living ?

 

Retail traders hae exploded over the last few years and they are not going anywere.

They now make up 10% of the liquidity of the global market and its increasing yearly...that's 300 Billion a day out of a 3 trillion a day total.

[docdan4x]

Re: Is it safe to trade Forex for Living ?

 

Is there anyone use A good EA to make a living in forex market?

 

having good success in trading with 2 EA, Dragonpips and MD, so far making good money over 3 month, but the account is to small to make a living from trading. Time will tell.... ^:)^

[frankay]

Re: Is it safe to trade Forex for Living ?

 

I personally believe someone can make a living by trading forex provided you are knowledgeble enough.secondly, i believe you need a mentor to succeed in this business. nothing can replace experience.

frankay

[Mentos]

Re: Is it safe to trade Forex for Living ?

 

It's all relative. There are lots of people who make their money from trading, not clients but their own money. Part of my monthly bills are paid through stocks and forex trading. If you have a good strategy, good head in your shoulder and more importantly be realistic in your goals, I can't see why not.

[⭐ stav01]

Re: Is it safe to trade Forex for Living ?

 

Only if you have money to fall back on - otherwise there is too much pressure.

[100pips]

Re: Is it safe to trade Forex for Living ?

 

In my opinion, you can make a living with forex only if you learn to play the long term trades. I had started couple of times with usd 1000 , almost doubled up in the first week but then the same things which were working before, stop working and then I blew up my account, TWICE.

 

I am back on demo now, found couple of good long term trading methods here, I am in testing mode in October and after that I hope to be making at least usd 1000 per month with forex.

[fallingsaints]

Re: Is it safe to trade Forex for Living ?

 

Forex is indeed a good business.

However, for me personally, I think at least $100k is needed for capital as well as at least 6 months worth of living expenses so that there will be no pressure in making money on forex.

[Gretta]

Re: Is it safe to trade Forex for Living ?

 

Most professions take considerable time to reach the top. Forex trading is no different. It's highly unlikely that you will learn what it takes to make a consistent income from Forex in a few months.

[leffendi]

Re: Is it safe to trade Forex for Living ?

 

For me the key it to train my mindset on top of a good strategy. What I found was when I doubled my money using a few robots and then lost it all was because I interfered with some manual trading when I wasn't ready and didn't know what I was doing (trying to pick market reversals is the mistake that I made - twice!).

[MusicMaker]

Re: Is it safe to trade Forex for Living ?

 

I have demo accounts now but am almost ready to go live, so I hope it is safe. Oh, I know it is high risk, but I have learned a lot in the last few months. I hope to do this for a living.

[Mentos]

Re: Is it safe to trade Forex for Living ?

 

Actually incorrect again... I trade scalping only and been doing this for 12 years and do extremely well. If your not making $1,000 a month, you shouldn't be giving advice on how to trade newbie.

 

Agree 100%, I make very good money scalping.

[halotan]

Re: Is it safe to trade Forex for Living ?

 

If you really want to go full time, start part time first with specific hours like trading after work for 3 hrs which shld coincide with US and Europe markets with small amt of money and play mini contracts...this way, each pip will only set u back $1.

 

If u r consistently profitable w ur system and mm, then increase to std lot with new capital pumped in. THEN only when u r certain that making 10 pips a week if a certain (after netting loss and gain), go for 10 contracts so each wk u will make 1000 USD.

 

If u r not able to be consistently profitable trading a higher time frame, don't even think of scalping and trading first tier news like NFP and FOMC.

 

My suggestion is have a capital of USD 25k, and abt 1yrs' money for survival such as paying bills etc.

 

Gd luck!!!

[halotan]

Re: Is it safe to trade Forex for Living ?

 

Yarman,

 

 

agree w u. Trading just on TA only will give u 60-40 chances of winning but the pips are small. typically abt 20-30 but trading w news can help u bag in 80-200 pips...juz make sure u are on the right side tho...