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Forex is profitable ?

Nov 16 2019 at 10:15
4 posts
Everything I read about discipline, MM, strategies, knowledge, long experience... is absolutly true. But don't be dreaming too much about the amount of money you can get from the markets if you don't have an important potfolio.
I am now quite experienced (32 years of trading) to affirm just one thing : if you want to be profitable for years and years you just have to divide your yet calculated risk by 2 or 3!! avoid bad surprises; then of course your ROI will also be divided by 2 or by 3 nevertheless you will get very decent returns ( to be compared to the taken risk); something between 20 or 30% per year on average is very common and it is A REALITY. That said to understand that you will never earn big money with small accounts. You can of course leverage the risk and be lucky...but you won't last 32 years ( even not 32 weeks:-)

Pannik (Pannik)
Nov 16 2019 at 17:22
126 posts
BotTracking posted:
ForexViking69 posted:
It’s a long road to trading profitably. Took me a couple of years until I started making a profit full time :)

There is only one way to increase your success rate as a forex trader - Practice. No matter how skilled you are, you can not improve your success if you relax with no practice. Study the market and practice risk management. Learn from your mistakes.

In simple words, you said everything!!!

Consistency and discipline contribute to success.
Nov 17 2019 at 00:07
1 posts
There's one thing you didn't consider. The trading tools have changed drastically over the 32 years of your experience and the potential and opportunities are not the same as they used to be, even 5 years ago. Any conclusions drawn from your own experience so far are not valid for the future. You can make big money from small accounts.

Baazex (Baazex)
Nov 17 2019 at 06:31
45 posts
jamesgwyther posted:
Baazex posted:
Forex trading is no doubt amazing but trader have to be very wise and experienced always ask an experienced traders help

Just study hard

yes, learning is the key

Revenue is vanity, profit is sanity, but cash is king
Baazex (Baazex)
Nov 17 2019 at 07:27
45 posts
Professional4X posted:
Baazex posted:
Forex trading is no doubt amazing but trader have to be very wise and experienced always ask an experienced traders help

It doesn't matter what your strategy is, as long as it's a profitable one.

Focus on Risk Management as your #1 priority, and you will protect your account against unreasonable losses.

Strong Strategy leads you towards success , as planning is a must and risk management is a part of strategy as risk management is the key in trading focusing on risk management can be a complete game changer in your forex trading career.Effective risk management is the most important skill to learn.

Revenue is vanity, profit is sanity, but cash is king
Smith2525 (Smith2525)
Nov 18 2019 at 06:30
33 posts
Very true! If it was easy everybody would be doing and nobody would go to work... Like most things in life, mastering it takes a lot of time and commitment

Nov 18 2019 at 11:30
595 posts
how much we can earn our trading it depends on the markets movements. It’s not countable at all by our trading accounts. I was profitable when I started my live trading with 1K. but I did huge loss when I increased my balance in 2.5K but there was same strategies with same money management.

Nov 18 2019 at 14:25
289 posts
My mentor makes a steady 5% a week.

Nov 20 2019 at 14:57
12 posts
Forex trading is profitable if you treat is professionally as any other business.

I have been a professional Forex trader since nearly a decade and I really love this job.

The advantage in Forex market trading is that it always shows historical buyers and sellers and when you compare it to now moment it is much easier to find out confluence points POC or zones for placing an entry.

In Forex trading, support and resistance levels are clearly defined, which makes a huge advantage compared to other markets.

Additionally, Forex market is world’s largest financial market and has the most liquidity which eases the trade entry/exit.

Furthermore, the leverage has been generally higher in Forex as compared to the equity markets, which in-turn makes more lucrative and profitable.

However, being the very active and big market, huge volatility needs to be observed closely prior to taking trades that requires additional amount of study before trading.

That is why proper money management is a holy grail in trading.

To sum up, with few cons and many pros, I would confirm that Forex trading is indeed profitable.

Nov 20 2019 at 19:47
4 posts
to les777 : Do you consider that the trading tools make it possible ? are you serious guy ? 5/10/20 or 50 years ago the skills and the rigor you needed to apply on your risk management were EXACTLY the has got nothing to see with the leverage ( which is what you are talking about without undersatanding it); The only difference I have noticed between now and the 'before internet era' is that everybody has the certainty to be an expert ! they know everything on everything and whatever the topic is ( as nowdays info is accessible in a finger snap) .... Believe me boy the trading is a real job which requires a lot of time to be mastered ( not technically but mentally ) . I Dont want to be taken for a donor of lessons..but please dont mix everything or you might crash sooner than expected.

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