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Do You Make a Living Trading? If Yes~ What is Your Typical Day Like?
Predchádzajúce 1 2 Ďalší
seankelly63

Členom od Sep 22, 2013  5 príspevkov Sean Kelly (seankelly63) Oct 05 2013 at 10:42
I am sure this has crossed the minds of all aspiring traders. I know for me it has been my goal for many years. I still hope to some day do this for a living.

Please take the time to answer the questions with honesty. Perhaps this thread will help everybody. I am especially interested to hear from those that are actually doing it successfully.


Have rules and stick to them.
dvejn

Členom od May 24, 2011  92 príspevkov dvejn Oct 05 2013 at 18:14
2% must be your monthly salery. its big problem wins everyday and use laverage. laverage kill you in long time.

example you need 1000 usd every month, minium is 50 000 deposit. good is 100 000. but this money is not small.

no laverage is 1 step. not need use stoploss and is ok hold position many weeks. (swap must be positive)

you wins 200 pip every month and you have salery. simple. daily,weekly chart. meabe is good trade stock.

typical day? great boredom. you need any funny. market,market, every day..........12-18 hours. easy job. hahaha.


great trader have 1mio and go for 5%.
speculant have 5% and go for 1mio.
95% speculant kill account in first year......why......

Best rebate for IC Markets 1,60 RTL+ armada markets 10% commision back + next 30 brokers company only in . Who will give you more?
Anking69

Členom od Sep 17, 2013  9 príspevkov Anking69 Oct 05 2013 at 21:13
Not yet, because I don't make enough money, I wish is my the future.

elitefxblog

Členom od Sep 18, 2013  12 príspevkov Hardik (elitefxblog) Oct 05 2013 at 21:13
Yes Sean.

I am trading forex from last 6 years. I make money for living.

I have in the beginning started as aggressive trader and lost many accounts and dollars while figuring out how trading works. With time and my continuous effort and understanding and experience i managed to make profits over time and Now I can make money living.

elitefx

without risk there is no reward
coachof4x

Členom od Oct 06, 2013  1 príspevkov coachof4x Oct 06 2013 at 08:51
Yes you can make a living from your trading efforts.
I do and I have made my living from trading for many years.

I started trading in 2001 and I started trading Futures and shortly after found forex and I have been trading them ever since.
I developed my own trading strategy and it took about two years to see consistent profits but most of the challenge was getting myself to follow the rules I set up and not change the trade plan while a trade was open.

My trading routine is very different today than it was a few years back.
I have found that the routine in the beginning was a way to keep me focused and to expose myself to the daily activities of being a trader... example:
what blogs to visit on a daily basis that will not only explain the results of the previous day and how news impacted the markets but to also find reliable sources of information from objective people who weren't calling trade signals.
After a while, with repeatedly watching each report, the reaction and different trading environments you begin to 'get the feel' of the market and you can see things happening before they actually occur.
Im not saying to place trading decisions with out conformation but you can tell how the markets will react in most cases but this takes years of constant exposure to the daily 'grind'

I also trade less today than I did in the beginning and yet I still make more pips per month than when I was a trading fool
trying to trade every price movement around the clock.

I learn over time to trust that the markets will still be there tomorrow and that if I miss a trade today or the market doesn't provide me with a trading opportunity according to my trading system... its okay... it will eventually come my way.

My days now are spent just waiting for the right trade and now that I have been trading my system for many years, I always know my trade right when it appears. I believe that it takes just as much time and effort to know that I don't have a confirmed trading opportunity as it takes to find the perfect trade. This means I still put in a full days works even if the market doesn't provide me with a trading opportunity.
You need to know your trading system so well that you know when not to use it and stop trading and you need to know when the best conditions are for your trading system to produce the greatest trading opportunities.

John Bollinger said,
“In any given environment there are a limited number of good opportunities...
places to transact where the risk and reward relationships are properly balanced in your favor”


Good Luck Trading
Joseph
4x Trading Coach

“In any given environment there are a limited number of good opportunities... places to transact where the risk and reward relationships are properly balanced in your favor, this is when I prefer to trade"
seankelly63

Členom od Sep 22, 2013  5 príspevkov Sean Kelly (seankelly63) Oct 06 2013 at 18:57
elitefxblog posted:
Yes Sean.

I am trading forex from last 6 years. I make money for living.

I have in the beginning started as aggressive trader and lost many accounts and dollars while figuring out how trading works. With time and my continuous effort and understanding and experience i managed to make profits over time and Now I can make money living.

elitefx


What is your secret? What is your usual day like?

Have rules and stick to them.
seankelly63

Členom od Sep 22, 2013  5 príspevkov Sean Kelly (seankelly63) Oct 06 2013 at 18:57
coachof4x posted:
Yes you can make a living from your trading efforts.
I do and I have made my living from trading for many years.

I started trading in 2001 and I started trading Futures and shortly after found forex and I have been trading them ever since.
I developed my own trading strategy and it took about two years to see consistent profits but most of the challenge was getting myself to follow the rules I set up and not change the trade plan while a trade was open.

My trading routine is very different today than it was a few years back.
I have found that the routine in the beginning was a way to keep me focused and to expose myself to the daily activities of being a trader... example:
what blogs to visit on a daily basis that will not only explain the results of the previous day and how news impacted the markets but to also find reliable sources of information from objective people who weren't calling trade signals.
After a while, with repeatedly watching each report, the reaction and different trading environments you begin to 'get the feel' of the market and you can see things happening before they actually occur.
Im not saying to place trading decisions with out conformation but you can tell how the markets will react in most cases but this takes years of constant exposure to the daily 'grind'

I also trade less today than I did in the beginning and yet I still make more pips per month than when I was a trading fool
trying to trade every price movement around the clock.

I learn over time to trust that the markets will still be there tomorrow and that if I miss a trade today or the market doesn't provide me with a trading opportunity according to my trading system... its okay... it will eventually come my way.

My days now are spent just waiting for the right trade and now that I have been trading my system for many years, I always know my trade right when it appears. I believe that it takes just as much time and effort to know that I don't have a confirmed trading opportunity as it takes to find the perfect trade. This means I still put in a full days works even if the market doesn't provide me with a trading opportunity.
You need to know your trading system so well that you know when not to use it and stop trading and you need to know when the best conditions are for your trading system to produce the greatest trading opportunities.

John Bollinger said,
“In any given environment there are a limited number of good opportunities...
places to transact where the risk and reward relationships are properly balanced in your favor”


Good Luck Trading
Joseph
4x Trading Coach




Thank you Joseph. Do you look for opportunites in all time frames or do you have preference?

Have rules and stick to them.
Thalantas

Členom od Mar 29, 2012  192 príspevkov Thalantas Oct 06 2013 at 19:06
If I may add to Sean's question. Would you mind telling us if you use sophisticated indicators or simple technical analysis on naked charts with simple MA?

Cheers,

A smooth sea never made a skillful sailor.
FXdiversified

Členom od Aug 06, 2013  30 príspevkov FXdiversified Oct 07 2013 at 11:04 (upravené Oct 07 2013 at 11:05 )
dvejn posted:
2% must be your monthly salery. its big problem wins everyday and use laverage. laverage kill you in long time.

example you need 1000 usd every month, minium is 50 000 deposit. good is 100 000. but this money is not small.

no laverage is 1 step. not need use stoploss and is ok hold position many weeks. (swap must be positive)

you wins 200 pip every month and you have salery. simple. daily,weekly chart. meabe is good trade stock.

typical day? great boredom. you need any funny. market,market, every day..........12-18 hours. easy job. hahaha.


great trader have 1mio and go for 5%.
speculant have 5% and go for 1mio.
95% speculant kill account in first year......why......


well that's an interesting idea: you suggest carry trades with no leverage as the way to go? And you generate 2% every month.... well interesting, how long are you already running such a strategy , if I may ask?

dxnation

Členom od Feb 19, 2011  61 príspevkov ForexGuru.US (dxnation) Oct 09 2013 at 11:02
I live off trading and my typical days is like this:

Tools of Trade:
2 Laptops, 1 Smart Phone and 1 Tablet and 2 Internet Connections (by any chance if one goes down).

Monitoring Tools:
MyFxBook
ForexFactory
My Excelsheets

Trading Tools:
FxTrade (for Oanda)
MT4
MT4 Demo (for various charting, homework, indicator study etc)

Time:
US session / UK session Overlap (8:00 AM est to 11:30 AM est)
Japan Session (8:30 PM est to 11:30 PM est)

What I do in spare time ?
Read, Study, Make Charts, (I am into technical and fundamental trading).

Very Important Thing as @seankelly63 said, there is always tomorrow if you miss your trade today. Have patience. Get off the screen, starting at charts won't do any good.

Activities I am involved in:
Reading Business Magazines, Cycling for now (I have piled on some weight from couple of vacations), Business Mentoring and consulting (I have been involved in couple of startup projects), Cooking.

Things to stay away from:
Don't Speculate, Don't follow TV news (each analysts will have a different opinion from others), Don't buy into so called get rich overnight schemes.

That's all,
dxnation.




Be among the very successful Forex Account Managers.
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