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living on forex trading?
May 20, 2011
6 Responses to living on forex trading?
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- gulfam333 on FOREX Training – Timing Your FOREX Trades Pt 3
unless you’re a successful professional trader in other markets, don’t try it.
forex is an extremely fast market dominated by professionals with lots of experience and powerful research behind them; they will happily take every bit of capital you’re willing to risk, plus as much more as you can scrape up.
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No.
(not so big) Secret #1: 90% of traders who actually make a living in the game draw salaries, commissions, and bonuses as the majority of their pay.
Secret #2: The advertising of trading and investing in all forms is a sales gimmick at best, a con at worst. Regular folks simply do not sit down and become expert traders in ten years, let alone 10 weeks or days. It takes talent and experience to be good and very, very few people have what it takes.
Secret #3: The handful of traders (actually, they are speculators) who make a living at it generally have a combination of luck, timing, and access to capital that is extremely hard to manufacture at will. That is, good speculators with experience talent hit a combination of OPM and luck to score a big win. The big win nets them a reputation which gets them lots of OPM, which enables them to live on a combination of commissions and infrequent additional scores.
OPM = Other People’s Money.
It is impossible to put together even a modest living from a nest egg of less than $250,000. In practice, only the most skilled can do it on less than $1 million for more than a few years. As a serious business, you need something on the order of $100 million…
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Do a Google Search on “Nial Fuller”. I believe he’s forex trading for a living based on his price action method.
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Pay – either pay for proper lessons and learn the trade or pay for the hefty losses you will incur by simply following those adverts telling you, you could earn $100k in just one day (they forgot to tell you the earlier 100 days during which you have lost $100k each).
eQuipment – do you have the necessary tools to start?
Risk – how much risk can you take? In every investments there are risks. No risk, no gain, nothing comes free.
Strength – financially strong? heart strong? Fx trading is not for shallow pocket and weak heart.
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It’s certainly possible to live in Forex trading. But you have to have a bullet-proof system in order to do it. I’ve got one I use that works like clockwork. I only have to sit in front of the computer a few minutes each day, and I can take days off with no problem. I give the system away free to anyone who wants it. You can grab it from the source below.
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Yes, I’m living on forex trading. Here’s how I do it:
I use a fully automated forex trading robot I stumbled on earlier this year in February.
http://www.aiforextradingrobot.com
It does the trading for me on a daily basis. Each time I check my laptop I see that the robot has already done a series of successful trades. It really knows when to enter the market and when to close a trade.
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