I can understand 50 pips and not making a living. Some people start small. That may be $50 a day.
Starting with $20000 is enought to turn that 50 into a living easily. I just have a hard time putting $20k in a non-insured account unless it's profit from somewhere else. I am a wuss.
Of course you can make a living from FX. There are lots of proficient traders who make profit just from FX. They trade using their own strategies. And there are much more traders who trade using the first ones signals. Many of them make a living just from FX. Though it certainly depends on how much you need for living. LOL.
Of course you can make a living from FX. There are lots of proficient traders who make profit just from FX. They trade using their own strategies. And there are much more traders who trade using the first ones signals. Many of them make a living just from FX. Though it certainly depends on how much you need for living. LOL.
Yes , There ARE PEOPLE DOING IT !
Here is someone who is ,,,,,,,,, Go Read Here http://tinyurl.com/yy4uyv
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SEE FOR YOURSELF
It is possible but only a very very small percentage can actually do it. You must realize that only 5-10% of participants are actually profitable in this market (that might be generous). That being, said those producing returns great enough to live off of is way smaller then that (plus you need a nice chunk for the initial capital). If you can make 30% a year you are doing better then most professional money managers. Realize that you will inevitably get someone to respond here that will claim to make that in a month. Please realize that returns like that are typically not sustainable.
It sounds like you are position trading which is the right way to go about this market (crossing the spread less is good). If you are, there is no need to be in front of your computer all the time. I would look to work for the salary & benefits (especially) and keep on plugging away at it. I would say most should look at this as hobby that hopefully you can make some extra cash off of. Trying to do it for a living on the retail level is like hitting the lottery.
Any advice on how to break into it at the retail level? Are you trading retail?
That's a good price -- I paid $70+ (international shipping).
Out of 84 books purchased and read it is the only one I did not give away after reading, examining & eliminating. However, in hindsight I wish I had not given away Reminisciences of a Stock Operator -- will have to buy it again.
I don't go the russkie route; I pay full price for my loot. That leaves the karma floodgates open for serendipitous windfalls.
One book that I am waiting to get my hands on is the upcoming release by Kathy Lien, Head of Research @ FXCM. She writes for Stocks & commodities, Currency Trader Magazine etc.; reading her insightful commentaries here and there thus far has rocket-fueled my striking ability and sharpened my weaponry exponentially.
God, do I love it so!
I've wanted to read "Reminiscences of a Stock Operator". I own a copy of "how to trade in stocks" by Jesse Livermore. It is a very good read.
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