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WHO trades forex for more than 10 years and keeps making regular profits

S I N V E S T (Minhsonkts)
Aug 14 2019 at 14:07
3 posts
macdoug posted:
Gowaletasia posted:
I would like to ask if there is a forex trader more than 10 years old and still generate regular profit here ?

I have traded forex actively for more than 10 years. I traded almost everyday with occasional breaks after losing. I turned a small demo account into a multi million dollar account before going live with 10k borrowed funds. That was october 2005. I really believed I was some kind of genius and calculated I would be retiring by Christmas that same year. Worst case scenario was 100k up. I lost 5k in the first two weeks and another 5k by the third month. by the end of the first year I was down 20k.

 I never gave up, although I often wished I had never started. I got better and lost less as the years went by. I doubled a few accounts and even tripled one only to eventually lose most of my gains. This year, my 13th year of forex, I have doubled my money over 12 months with low risk. I have withdrawn my original stake so all money in my account is pure profit. I consider this a great achievement even though the entire forum at forex factory are profitable after a year or two

You opinion is not wrong. The stats don't lie and they are public now. Every quarter the brokers publish the stats and around 25% are profitable over 3 months. that number dwindles to 99% losers by the end of a year. Of course brokers have to market very aggressively to get new clients to replace the old. That is the business model of a broker

I believe with all the time and money I spent on forex trading, I could have much more easily trained myself to be a high earning professional and achieved a much better return for my efforts

I find it quite easy to take money from the market now with very low risk. I target 0.5% per day and regularly exceed this when a trend is in play like the recent fall in the Aussie dollar. However, there was never a guarantee this was going to happen. It was very close to a decade completely wasted. I was a very fit 40yo when I started in 2005. By my 50th birthday in 2014 I was obese and diabetic. I have lost the weight now and manage the diabetes well after learning a thing or two about discipline but it really wasn't worth that price.

There are much better, more creative and constructive endeavours for you to pursue. Doctor, Lawyer, Scientist all take hard work, time and discipline but not as hard or as long or as disciplined as trading. If you are ever able to trade profitably, you will be beating most professional traders and hedge funds if you can get 10% per year. Consistent, double figure returns are achieved by only a few, elite traders. That means you are going to need a million dollar account to make a modest 100k. Find me one forex trader, who has made a fortune from a small account. If you achieve this, you will be the first, unless I beat you to it

Anyway thats my story. Im a happy man, I appreciate the valuable things in life like health and family. Trading takes hardly anytime at all now, somedays I'm done in minutes. I don't look forward to it, its not fun, I see it as a job to do but I do get satisfaction from being this good at something after trying so hard for so long.
Having said that, I wouldn't recommend forex to my worst enemy to be honest.

Good Luck

What you say sounds great. Thanks for the story you shared.
I am a Vietnamese trader, I have about 5 years of experience. I always feel respect for people like you.

Forex Trading Blog
Rosioe
Aug 15 2019 at 12:02
3 posts
I trading since 2 years, but only use automatic systems, I don't know if there is anyone in this forum who has 10 years' experience and regular profits for 10 years.

Wildbill
Aug 19 2019 at 12:49
37 posts
I started trading in 2005 and like you had some successes, some losses and periods of time when I got mad and didn't trade for months. By 2014, I decided I had to get into some program that had mentoring and worked with a system that was able to decode the methods of the Big Banks to talk to each other via the charts.

Starting with a small account, I have had profitable months in every month since June 2014. I am conservative in the amount of my trades and have a 88% winning percentage over thousands of trades. As you might assume, my profits have increased my original equity over twenty times since I don't take money out of my account except for expenses.

The secret is education. For years I thought I could beat the market with a high IQ and listening to traders, using miracle EAs, or various gurus/ WRONG.
You have to learn why and how the Big Boys structure the market. What is their next probable move within that structure. What is my entry point and exit point. Then do it all again every day;that is the way to consistent profits.

PROMAN (kimdeep)
Aug 19 2019 at 16:28
4 posts
last 5 year i do 90% win rate good so far the first year only 60%

Supernova18
Aug 20 2019 at 00:48
3 posts
Anyone tried running a PAMM?

Mahfuzur Rahman (mrahmanlinks)
Aug 21 2019 at 13:16
1 posts
vontogr (togr)
Aug 22 2019 at 07:25
4862 posts
It is not strange if you keep trading forex for 10+ years because you are profitable.
Let me rephrase the question, is there anybody trading for 10+ years and still losing money?
I would like to know your motivation:)

Michael (SNF_Complex)
Aug 22 2019 at 11:30
216 posts
togr posted:
It is not strange if you keep trading forex for 10+ years because you are profitable.
Let me rephrase the question, is there anybody trading for 10+ years and still losing money?
I would like to know your motivation:)


tranding like casino


no need motivation to trade ... :)

SNF-Complex system - build in 2007 \ Tested from 1970.
vontogr (togr)
Aug 23 2019 at 06:42
4862 posts
SNF_Complex posted:
togr posted:
It is not strange if you keep trading forex for 10+ years because you are profitable.
Let me rephrase the question, is there anybody trading for 10+ years and still losing money?
I would like to know your motivation:)


tranding like casino


no need motivation to trade ... :)


so do you trade 10 years and losing money?

bernice1000
Aug 27 2019 at 22:40
1 posts
SINVEST

I can't agree more to what you are saying.


steve_25
Sep 30 2019 at 06:09
38 posts
There maybe so many of them. But consistency here doesn’t imply that a trader doesn't make loss at all. I don’t think there could ever be a trader who hasn’t incurred loss in trading. In an experience of more than 10 years, one can lessen the chances of loss but not eliminate it altogether. So relax and start exploring it.

Kingsley93
Sep 30 2019 at 20:44
1 posts
alexforex007
Oct 02 2019 at 00:16
774 posts
Very good comments and advice from all of you. Good money management to reach consistency. Thats the key.

hfm8688
Oct 05 2019 at 06:02
2 posts
Gowaletasia posted:
I would like to ask if there is a forex trader more than 10 years old and still generate regular profit here ?
I'm sorry to ask this
because I see the portfolio of several forex winners here on other contests they lose a lot, inconsistent
my opinion for long term 100% forex traders must have lost
therefore many brokers give a lot of bonuses
please let me know if my opinion is wrong
😐

AlgoTrader (MBFr_Group)
Oct 19 2019 at 05:12
19 posts
I will be a 10 year veteran soon ... 9 years from today.
Algorithm is working and I am just taking money to the Bank.

Never assume anything.
MasterTrader (wayves)
Oct 24 2019 at 05:36
7 posts
i have been trading the markets for more than 15years, trading profitably is majorly about money and risk management, most especially you must be properly capitalized. loosing positions is a part of success in trading, however i make sure to end every single month in good profit.

N.B i can trade for anyone for a 20% monthly commission on profit made for you. Simply open an account with any reliable broker of your choice, i suggest pepperstone in Australia. and let get started.

cheers

Don't pray the market goes your way, pray to go the markets way
Matt (BluePanther)
Oct 24 2019 at 22:25
1355 posts
togr posted:
It is not strange if you keep trading forex for 10+ years because you are profitable.
Let me rephrase the question, is there anybody trading for 10+ years and still losing money?
I would like to know your motivation:)


That would be me! I started October 2008 and I am still struggling to make money.

But my motivation is that forex is the best business there is, and I know it is possible to make a living and retire from forex. Last year, I turned AUD$50,000 into AUD$13,000,000 in two months using high risk on CHFSGD and EURTRY, but on 3 January 2019 I lost 96% because of the Yen Flash Crash. I only withdrew AUD$80,000 for my mother, and I agree that greed was the major factor in my loss: I was earning AUD$100,000 per day and I didn’t want to stop.

Well, at least I can say “been there, done that.”
Though it would be nice to “be there” again... some day maybe...

vontogr (togr)
Oct 25 2019 at 07:05
4862 posts
BluePanther posted:
togr posted:
It is not strange if you keep trading forex for 10+ years because you are profitable.
Let me rephrase the question, is there anybody trading for 10+ years and still losing money?
I would like to know your motivation:)


That would be me! I started October 2008 and I am still struggling to make money.

But my motivation is that forex is the best business there is, and I know it is possible to make a living and retire from forex. Last year, I turned AUD$50,000 into AUD$13,000,000 in two months using high risk on CHFSGD and EURTRY, but on 3 January 2019 I lost 96% because of the Yen Flash Crash. I only withdrew AUD$80,000 for my mother, and I agree that greed was the major factor in my loss: I was earning AUD$100,000 per day and I didn’t want to stop.

Well, at least I can say “been there, done that.”
Though it would be nice to “be there” again... some day maybe...


Impressive
What if you had stopped at that 13 mil AUD? Will you feel the need to continue?

Matt (BluePanther)
Oct 25 2019 at 10:34
1355 posts
togr posted:
Impressive
What if you had stopped at that 13 mil AUD? Will you feel the need to continue?


Yes, because:
1. the nature of fiat money is that it depreciates in value over time (inflation);
2. and spending (utilising) the finite amount would erode its value faster.

'It is not the AMOUNT of money you have that matters. What matters is the SYSTEM you use: No amount of money can save you if you have a bad system. Conversely, if you have a good system you can start with small money and easily become rich.' (Matthew Todorovski)

Jack Smith (GlobalScalper)
Oct 26 2019 at 22:11
54 posts
robynm posted:
My business partner has been trading for over 15 years and she has very consistent profits


What about you dude ?

Learning is an endless river.
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