Rating: Full Star Full Star Full Star Full Star Empty Star
WHO trades forex for more than 10 years and keeps making regular profits
Previous 1 .. 9 10 11 12 13 14 15 .. 25 Next
Mofokeng_Motikoe

Member Since Apr 11, 2019  2 posts Mofokeng_Motikoe May 21 2019 at 13:54
I am a beginner,any advice ?Please

Pikasso

Member Since Jan 31, 2017  153 posts SCR Traders (Pikasso) May 21 2019 at 18:12
Mofokeng_Motikoe posted:
I am a beginner,any advice ?Please

what is your expect from the market ? Do you plan to trade or invest ? What kind of markets ? What instruments ?

Trading system developers and strategy providers.
Mofokeng_Motikoe

Member Since Apr 11, 2019  2 posts Mofokeng_Motikoe May 22 2019 at 07:39
Well I am looking to invest,not sure what you mean when saying 'what kind of markets and what instruments'

Thank you

john98

Member Since May 09, 2019  15 posts john98 May 23 2019 at 13:53
Many individuals do, as I would see it. The more one exchanges, the more steady one's benefits ought to turn into.

Javytrader

Member Since May 23, 2019  10 posts Javytrader May 24 2019 at 07:34
Mofokeng_Motikoe posted:
Well I am looking to invest,not sure what you mean when saying 'what kind of markets and what instruments'

Thank you


e.g Forex, futures, CFds, stocks, bonds etc

LgIndustries

Member Since Jun 14, 2019  9 posts week8trader (LgIndustries) Jun 16 2019 at 07:13
I have above 10 years + in the business...and i can say we doing well for ourselves,better than your average Joe in here.
Losses are inevitable.But our strike rate is 90%.
There is no 100% clean record.that is all i can say.Most of my losses are not from being wrong from the trade i took but rather pop up fundamentals that end up scratching us out at break even and we count those as losses.That is what i mean by losses,but on the contrary predicting a wrong trade i have never done in the last 7years of my career,the first 4 years of my career were a mess though.A horrible mess...!!

conclusion:I do incure losses BUT i have never lost a trade prediction in the last 8-9 years till today.
(so there you have it.)
Hope you got the info you wanted.
regards...

i owe my being to All the giants of the Industry whose shoulders i am stanging on Today.
macdoug

Member Since Sep 20, 2009  21 posts macdoug Jun 16 2019 at 12:18
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

togr

Member Since Feb 22, 2011  4840 posts vontogr (togr) Jun 17 2019 at 11:57
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


That is very honest and clear message. What else can I add? Perhaps it is really hard to like separate personal and work life when you are trading for living. Even with fully automated trading, which is my way of making profit with forex it is necessarry to be on alert to resolve anything needed like account disconnection. This continous interference is crupling your personal life and health.

frankmartin1

Member Since Dec 18, 2018  44 posts Frank Martin (frankmartin1) Jun 18 2019 at 05:45
Trading from many years but it not reached at 10 but doing profit well neutral

andriabaker

Member Since Jul 07, 2015  1 posts UPSCALE INVESTOR$ (andriabaker) Jul 06 2019 at 17:02
This is my goal. Profitable within the last few years. And have automated my strategy that runs on vps so i can still live my life at same time!!

Patience & Persistence Leads to Peace Profit and Prosperity
Previous 1 .. 9 10 11 12 13 14 15 .. 25 Next
Loading
Loading
EURUSD 1.21201 GBPUSD 1.34343
USDJPY 104.184 USDCAD 1.27846

Tools

Community

Reviews

Brokers

Platform

Support


Twitter |  Facebook |  Site Map  |  Terms  |   Privacy Policy
©2020 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.