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Is forex is best source of income?
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feelsofine

Member Since Dec 09, 2019  36 posts feelsofine Apr 21 at 11:03
Thing is the market is very unpredictable and you will never know for sure whether you will be gaining or losing...if you are an experienced full time trader, you might be feeling that it is definitely a source of your income...

Amir90

Member Since Apr 05, 2014  16 posts Amir90 Apr 21 at 13:52
I think Forex is very risky business because the success rate is only 5% and 95% lose their funds

Slow and steady wins the race
ahmed124

Member Since Jan 16, 2014  7 posts FXTrader (ahmed124) Apr 21 at 14:46
When you trade forex you should be placing your order based on probability. I have read a lot of how bank trader work and believe me it's not complicated. They don't waste their time on indicator and other bullshit. It's mostly fundamentals. Then on the chart you place support and resitance line and you just wait for the breakout. That increase a lot your probability. And don't forget to have a ratio of 3:1 which mean per example TP of 75 pips and SL of 25 pips.

I keep going on but I have been trading for 11 years and I make money. Be patient is the key and don't place an order just because you want to make money fast.


I do have some EA and they do the work. But they require intervention to align them with the fundamentals. Believe me I saw a lot of youtube and the vast vast majority are bullshit. People talk about indicators combination and they have zero knowledge why the currency moved on a direction.

traderroni

Member Since Oct 05, 2019  19 posts traderroni Apr 22 at 06:59
richard2 posted:
I believe best side income but not one to sustain a life. Its risky and with it you can depend on livelihood at all times.


Right. Its a good source of income but won't call it best as it has attached risk with it.

accelerator1

Member Since Feb 10, 2020  11 posts accelerator1 Apr 22 at 14:01
Forex is a terrible source of income for 95% of those who lose money from it!!! For the 1% who make thousands of dollars it is awesome

Shalidor

Member Since Jul 01, 2019  18 posts Shalidor May 06 at 15:37
Doesn't look like it to me. Forex is not the best source of income. Usually, few people manage to trade professionally and live from this income. Most people don't always understand how to trade profitable and often lose money. And besides, trading is quite risky and it isn't always possible to know whether a deal will be successful or not. So to me, forex is more of a source of some additional income.

Macyjones

Member Since May 06, 2020  6 posts Macyjones May 08 at 07:12
Dictiony posted:
Forex is the best source of income because it is a very profitable business and very popular online business. According to my point of view, most of people's are doing work on forex and earn huge amount.most of people's meet our family expense through forex because is a profitable business. forex is the best source of income.

Some people have a misconception that forex trading can lead to massive losses. I find this misleading because forex trading is profitable and it is the main source of income for many people. In order to make it profitable you need to understand the trading strategy.

TraderProHungary

Member Since Jan 06, 2020  83 posts FundsProManager (TraderProHungary) May 08 at 07:38
Amir90 posted:
I think Forex is very risky business because the success rate is only 5% and 95% lose their funds


With good money management with a nice deposit, forex is the best for me, and made me who I'm today. If you want to make it in forex, large deposit with good money management, don't even try to start trading with $100, except you are a pro trader and just want to use the $100 for system testing and you are also ready for the stress that is coming with trading such balance.
If I want to do system updates and testing, I use 1k and above and withdraw after done.
To make forex your source of income, you really need to fund with nice capital. I turn down clients with not so interesting capitals, You need nice deposits to make a good trading plan and profits with no stress.

Market Direction
TraderProHungary

Member Since Jan 06, 2020  83 posts FundsProManager (TraderProHungary) May 08 at 07:40
And don't forget to always trade with stoplosses and this is the key to good money management and e trading.

Market Direction
TraderProHungary

Member Since Jan 06, 2020  83 posts FundsProManager (TraderProHungary) May 09 at 10:05
richard2 posted:
I believe best side income but not one to sustain a life. Its risky and with it you can depend on livelihood at all times.

I don't agree with this, Good capital and Strict money management and you are good, don't wait till I upload 6 years history with with withdrawals before you get serious and know that most of us trade for a living

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