Thread: Anybody Actually Making a Living Trading FX?

Hello everyone,

It is not my intention to be negative with this post....

I've seen so many systems, both manually run and EA run. Is anyone actually making a living trading ANY of these systems? Seems like everyone is eager to test "this one" or "that one" in a demo account, but I never hear anyone say, "Hey, I made $200K last year trading FX."

Are there any traders really making a living at trading FX? Personally, I've been at it for several years with no real success, just wondering if there are others in the same boat...

Any takers on this question?

Thanks in advance,

BP

It takes normally 10-20 years to learn.
Some are gifted and do it faster.
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You tried it for 3 years - you are a new-bi,
Keep up learning, babe

yes i trade live with my own ea, which is an combination of the most succesful systems (2,5 years programming+15 years experience).
1 account with higher risk, profit ~ 75% per year
1 account with less risk, profit ~ 36% per year
the secret is to know, that you cant get rich in forex in 1 month = dont overtrade yourself and your account. collect your steady profits month by month, this the only one way, that forex will change your live and you are one of the 5% winners in forex.

my 2c

Would you be willing to help out this trader with some ideas or hints on which EA to use? I know you may be hesitant...but I could really use some help, and it would really be appreciated.

Thanks,

BP

Originally Posted by BlackPearl

Would you be willing to help out this trader with some ideas or hints on which EA to use? I know you may be hesitant...but I could really use some help, and it would really be appreciated.

Thanks,

BP

some hints, not complete listed
- secureprofit/break even system
- max trades per pair and sequence
- min equity to secure your money = emergency close
- check cot report, disabling trading if necessary
- dont trade pairs if a high impact is estimated = forex calendary (red) (orange - option, less lot size)
- ranging or trending market = trending 0.01 ranging 0.1
- less lot size, more pairs = diversivied
- quarter trading
- range trading
- news trading
- soft martingale (pro's only)
- max lots per pair
- min. 3 indis (ema, rsi, macd) - no repainting indis!
- min crosscheck on 3 timeframes = 3xindi + 3xtf = 9 infos on a pair
- mm - 1k account = max 10 pairs (not at the same time!), with 0.01 lot size!....steady profits month by month is the answer on the forex riddle

trade currency options & futures demos to enhance your skills, to get a market (correlation, news) feeling overall

Originally Posted by BlackPearl

Hello everyone,

It is not my intention to be negative with this post....

I've seen so many systems, both manually run and EA run. Is anyone actually making a living trading ANY of these systems? Seems like everyone is eager to test "this one" or "that one" in a demo account, but I never hear anyone say, "Hey, I made $200K last year trading FX."

Are there any traders really making a living at trading FX? Personally, I've been at it for several years with no real success, just wondering if there are others in the same boat...

Any takers on this question?

Thanks in advance,

BP

Main new-bi problem is that most have no clue what to look for. So they waste time following flashiest and loudest posts. If you wasted 3 years just on that, you didn't actually start learning.
Flashiest and loudest posts are usually marketers or ego trip maniacs with unproven claims.
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So first rule - always test
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Another new -bi problem - lack of previous biz experience.
Trading is a solo biz - entrepreneurship. So it's good idea to learn some good entrepreneur literature on sales and marketing. So you know all the marketing gimmicks and don't fall for them. You also get better organized.
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Most important rule in biz - having control. If you don't have control you don't have trading business.
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In trading you gain controll by applying objective criteria.
So that what you should be focusing on - gathering a valid sets of criteria for :
1. market trade entries.
2. stop placement
3. target calculation
4. Trailing stop logic
5. Money management.
6 Gathering hardware and software tools, applications, indicators, computers, communication devices, etc.
7. Account, trade analisys (learning excel), other
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Wright down those seven points and start gathering intel.
Not bizare claims but specific pieces of logic, then atart testing them and see how it works, areas of improvement, strong/weak points. You have to be patient and committed for long term success.
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At the beginning its a lot of research and test and self development. You might also alter things like your diet, and sleeping cycle and be ok with spending long hours with computer.

Thanks for your input. Actually, I am an entrepreneur. I'm the guy that invented the "Freshness Valve" on every bag of gourmet coffee on earth, manufactured tens of millions of them in my plastic injection molding plant. I also am an avid stock market investor, racking up a 303% return on investment since the market crash in March of this year. I have been working to perfect my knowledge of FX trading and have an OK manual system, but prefer to use an EA, just cannot find a good one. So I'm working to produce one myself. If anyone has one that they can honestly say works, then I would love to learn about it.

Thanks,

BP

So trading bis is different then inventing a slightly more useful packaging. Building a good trading EA is similar to creation of a chess playing robot. IBM took many years to finally beat Kasparov.
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This is something like that.
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Ford when building his co. realized that he needed top experts and engineers to accomplish his goal.
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So if you are that cocky, start building a team