Is anyone making money trading forex?

[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

[iwealth]

Hi, I started trading roughly 2 years ago. demo traded about 4 months and then went live thinking I was ready for the markets. Was I wrong! I started losing almost immediately and realised something was definitely not right. After taking a good look at what I was doing I realised that my style of trading had changed now that I was dealing with my own money. I also could not afford top be in front of a PC the whole day to monitor trades and felt I had to sit in front of the screen when I was in trade. Was very nerve wrecking for me and trading became almost a pain. I had up till then purchased quite a few ebooks and also subscribed to some signal sites (trial periods) but nothing seemed to work. I finally realised what my fears were and developed a system which suits me now and which I have been trading successfully for around 8 months now (LIVE). Averaging 10-30+ pips per trade trading from 1 to 3 trades daily if things are in my favor.

I had a post here previously but it seems to have been removed so will not mention here what it is that I do. You can email me at iwealth1@yahoo.com if you'd like.

all the best