REPLY to "REAL TRADERS"

Bob, I really like you. You are a very very good guy :) Seriously. I read many your posts. Can sense good soul when I see one.
Now back to FX. There is a catch. Human condition. In this business may be 5% top is making it. Vast majority going into FX will slowly bleed themselves on these small accounts for years. and majority doe snot have patience to take $1000 and build it over many years.
It takes years upon years just to achieve self control and discipline necessary to succeed, trader must make a plan and follow it through everything but be flexible enough to keep making small changes on the dime if necessary. Guys here waste money but because it is small waste they keep going at it for years just like I did until I realized what I must have done all along.
I will be frank, I am not content with 2% monthly. I know I can do much much better than this. But it took me a lot of practice and work. and for 2 years before finally deciding to go live.
Considering consistency of moves and need for majority to really start making money I believe futures is a way to go. You know they have mini contracts and normal sized contracts, but trader can start with some $4000-5000 and start making considerable amounts very quickly if one is good. So, the point is,m why to play this FX game with $100-1000 and through money time after time away when one should concentrate on psychology, plan discipline until he is profitable for at least 6 months on demo futures for example, but only if all rules followed and then go live with built stake. Makes sense for me. it is what i did.

ForexAssistant posted:
Well you can't make a living with that amount but you can safely make 25% a year and with a few extra deposits along the way, a person could easily retire in 10 years or so.

Think about when we first started out. If we could work our asses off for ten years and would never have to work again because our investments have taken over the income, well that sounds like something that many new traders just might be interested in doing. But when you first come in to this market and everyone is taking - 5, 10, 25% a month, to fit in you have to be just as good, right.

We really have a pretty safe product here, in fact I often make the case of why it is the safest market on Earth, at least for right now. Totally transparent, no such thing as cooking the books. There are no books. No insider trading. The forex owns the concept of liquidity, there just isn't a more liquid market anywhere.

But most important is that all other markets compare their value to some currency. That means what ever effects the forex market effects every other market, but not the other way around. I have seen times when stocks went nuts and the related currency - never budged an inch.

This is a good market for those of us who are content with a pretty solid 1.5 to 2% a month. If we are patient and build to a couple of hundred thousand, you can make a living off of that. Well I could anyway, my needs are not all that great. So I argue that you can make a living off of $1000 and time.

Bob