MoneyTec 2.0 - Online Forex Traders & Brokers Social Networking Community » Trading Talk » Beginners Forum

[throw]

I keep reading post after post of people trying to making a living trading the forex and a lot of people offer advice on where to go, what to do, who to ask but NO ONE is stepping up and saying yes I trade or leverage X amount of money per day or per trade and over a week or month my average gain is X amount. Or I have been trading for two years and I am even, I am not making any money. PLEASE, us new guys need to hear some success or failure stories of how you started, what you have learned and how much money you are making/losing per day, week or month. ARE YOU OUT THERE?!!!!!

[mwbro]

first of all news guys almost never make money its take a while to learn...dont feel left out
also its personal asking about ones equity so we are here to learn tips about trading and stuff not to flex muscles on HOW much someone is making, thats personal.
Even if someone told you the nitty details it does not mean you will do the same ...trading is differnt for every person.
if someone said they had a bad day on the market that basically means they lost money, its a win and lose game.
dont be driven by others wins and losses (causes too much emotional roller coaster not a good thing in trading) just know people are making money
study and trade trade trade

[SeanB]

I know... to make this anonymous, could we put up a poll with how much has been made today by who ever takes part in the survey (obvioulsy we can't see who takes part so this allows the BIGGER BALLS syndrome to stay out)? We could put avg. figures made for the day and then we could click on the one closest to our earning for the day and then new traders would know how much is being made roughly... what you think?

[_Ayman_]

Originally Posted by SeanB

I know... to make this anonymous, could we put up a poll with how much has been made today by who ever takes part in the survey

I think the poll was put up once before.

[_Ayman_]

Who Is Trading For A Living And Making Money?

Your 2004 Total Return % Gain/Loss Trading FX

How much you make per month

[throw]

Thanks for the replies, and a poll would be great for the monitor of the site to establish. But still NO ONE is stepping forward and telling us Newbies if they are doing well or not, with examples. For any newbie wanting to get involved there needs to be a carrot at the end of the stick, a reason for doing it. When anyone takes on a new job or hobby there needs to be motivation, usually it is success and in this case that success is measured by dollars. So again I ask, PLEASE if you have been trading a short time or long time give us a reason to spend the next 1-3 years of our lives learning this hopefully rewarding skill. Is anyone out there making $10k, $50k, $100k per month trading the forex. There are hundreds of us out here that want to here from you....

[J327]

Try self motivation.

And if you look at the statistics, 85%-90% of the traders are losing money in this game. Those are overwhelming odds. Now, do you believe you can be that 10%-15% who are profitable, and probably 1%-2% who are extremely profitable? That all comes down to you.

And also, a lot of times, it depends on your original stake. The bigger the stake, the less % return you will need to make a good living. Also, you can cherry pick your trades on much longer time frames with more money to ride the trades. You know what I mean.

[phildunn]

If u cannot accept failures, better don't try trading in your life, u will be very disappointed

[ampris2000]

forget about the 10k or 100 k per month.

the question to ask yourself is "how much do I need/want per month."

Then if you can achieve that you're set. So what if some other trader makes 10k a month. as long as you make what you want is all that matters.

besides, don't focus so much on the money. focus on the trading. if you can get 100 pips per week, then great. if a pip = 1.00 then that is $100 per week. if a pip is 10.00 then that is $1000 per week. The monetary amount doesn't (shouldn't) change your trading strategy.

once you find a successful strategy for yourself, trade it, take out what you need and reinvest the rest and your account will grow soon.

some people make 20 pips a day. i have only been able to make -20 pips a day. but I am able to make 100 pips per week on the longer time frames. same result different strategy.

[throw]

thanks for all the advice, still NO ONE has stepped up and answered the question with specific examples of their successes or failures monetarily. Makes me wondering why?...

[TickTock]

I guess some people will never get it

[BullMarket]

"Thanks for all the advice, still NO ONE has stepped up and answered the question with specific examples of their successes or failures monetarily. Makes me wondering why?..."


Here's a summery of my trading. I have about a month and a half trading experiance total and this is about 2 weeks of live trading for me. My losses have been cut alot but, are still losses.

Things should start looking more black in a few weeks to a month. I plain to trade full time by feb. at the latest.

-Frank

[LoriK]

Originally Posted by throw

thanks for all the advice, still NO ONE has stepped up and answered the question with specific examples of their successes or failures monetarily. Makes me wondering why?...

Well - maybe they don't feel comfortable sharing their income with a stranger

Also - this is the beginner board, maybe another board might be a better place to get more experienced traders.

[SirKhan]

Hello,
Just to answer your question (I'm from a different place then the USAiii and don't care about strangers knowing my income ) So I've started in July, 2005 and since then I've been trading almost every day, I have much time (my job binds me to the computer so I'm lucky on that part). I've lost about $500 yet, but don't really care, because I finally started to stop loosing and gain a little. Not much, but $10-$50 a day, which is very good for me yet.
I've read a bunch of books on the subject and tried a lot of different trading strategies, automatic trading programs, etc., IMHO they worthing compared to experience and good technical and fundamental analysis. And big hurray for the inventor of candlesticks
Keep up the work, and don't get worried about some loss. I think we should look at a yearly average after our first year in forex, not a weekly or even a monthly one, those would be really disappointing!

[faizy999]

And if u really want how people trade and how they study charts go to trading strategy's and mathods section where u find different trading style and strategy's