WHO trades forex for more than 10 years and keeps making regular profits
Oct 01, 2020 at 18:35
A random note as well,
I started a new strategy at the beginning of November last year after a 3 year break from Forex
I'm happy to say that it has been performing well albeit some set-backs and I will be celebrating the 1 year anniversary of trading this system at the end of this new month
The time has simply flown by
Happy trading everyone & may the odds be ever in your favour
I started a new strategy at the beginning of November last year after a 3 year break from Forex
I'm happy to say that it has been performing well albeit some set-backs and I will be celebrating the 1 year anniversary of trading this system at the end of this new month
The time has simply flown by
Happy trading everyone & may the odds be ever in your favour
When you lose, don't lose the Lesson
forex_trader_1786937
Member Since Aug 23, 2020
142 posts
Oct 03, 2020 at 08:19
If there is any decision I took decade plus ago, it's getting to be a Trader, if you become professional, trading is so easy as you can make profits and leave. But if you are not, you will always end up losing. Becoming a proffesional is not a day job, it took me more than a year as far back as 2007
Member Since Oct 05, 2020
9 posts
Oct 05, 2020 at 10:51
Maintaining profits every day, week, season,... is very difficult if you haven't a solid sytem of trading. That means you could spend a lot of time (years) to be a pro.
My experience is my treasure. I spent more than 5 years, and specialy the last 3.
I recommend to traders tired of get loss (won/lost won/lost ....) but at the end few profit or even few lost, that they apply for a good signal plan.
That was my lifesaver. Now I am a profitable trader. Thaks God.
My experience is my treasure. I spent more than 5 years, and specialy the last 3.
I recommend to traders tired of get loss (won/lost won/lost ....) but at the end few profit or even few lost, that they apply for a good signal plan.
That was my lifesaver. Now I am a profitable trader. Thaks God.
99% of winning rate is possible !!!
Member Since Sep 30, 2020
28 posts
Oct 12, 2020 at 09:34
As long as you keep walking on the right path and will stick to your original plan, it will be just fine. Don’t worry and trust your instincts. Starting with small positions will help boost your confidence. Good luck, it doesn’t look like you need a mentor.
Member Since Jun 16, 2020
35 posts
Oct 13, 2020 at 05:51
Profits only increase with experience, at least they get consistent. So anybody who has been trading for about a decade will continue to do so.
Oct 28, 2020 at 11:01
I cannot recommend the book, 'Trading in the Zone' by Mark Douglas, strongly enough
I finally finished this book after discovering it 8 years ago and it teaches some absolutely incredible lessons that will resonate with many of you. The book touches on the 5 fundamental truths of trading:
1. Anything can happen.
2. You don’t need to know what is going to happen next to make money.
3. There is a random distribution between wins and losses for any given set of
variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing
happening over another.
5. Every moment in the market is unique.
In order to be consistent, 7 principles must be followed:
1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept the risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success
and, therefore, I never violate them.
This is all courtesy of Mark Douglas - do check him out
I finally finished this book after discovering it 8 years ago and it teaches some absolutely incredible lessons that will resonate with many of you. The book touches on the 5 fundamental truths of trading:
1. Anything can happen.
2. You don’t need to know what is going to happen next to make money.
3. There is a random distribution between wins and losses for any given set of
variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing
happening over another.
5. Every moment in the market is unique.
In order to be consistent, 7 principles must be followed:
1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept the risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success
and, therefore, I never violate them.
This is all courtesy of Mark Douglas - do check him out
When you lose, don't lose the Lesson
Member Since Sep 12, 2017
238 posts
Nov 09, 2020 at 03:15
never heard of any such trader who earns the continuous profits. i believe you dont always win in forex.
Nov 09, 2020 at 12:40
perryjohn765 posted:
never heard of any such trader who earns the continuous profits. i believe you dont always win in forex.
Continuous over a long period of time, yes there are many traders who can do this
But continuous each time a trade is placed? No - you cannot win every trade, that is obvious
When you lose, don't lose the Lesson
Member Since Oct 09, 2020
28 posts
Nov 19, 2020 at 05:44
Focus on improving your skills every now and then. Profits will come with experience.
Member Since Aug 17, 2020
123 posts
Nov 19, 2020 at 07:54
sareen posted:perryjohn765 posted:
never heard of any such trader who earns the continuous profits. i believe you dont always win in forex.
Continuous over a long period of time, yes there are many traders who can do this
But continuous each time a trade is placed? No - you cannot win every trade, that is obvious
You are right. Being a consistently profitable trader is not about winning every single trade, that is indeed not possible.
Member Since Jan 31, 2016
9 posts
Dec 04, 2020 at 20:03
Hey
Interesting topic. Thought i would join.
I being trading forex for around 8 years +
I used to do manual trading. Now, i only does EA trading ( removing emotions out of the equation and getting discipline in return). EA is turned off completely on high impact news days.
I have backtest of EA available from 1999.
If you are lucky to have a mentor, you might achieve your goals earlier or ATLEAST wont loose lot of money investing.
I did have a mentor/teacher though who taught me the basics. However i moved on from him since his goal was only to achieve around 5k per year. I learned from many institutions online , youtube channels etc. I paid any institution once only to ask for a refund as their strategies didn't pan out. I don't think hardly anyone would teach profitable strategies free of cost or for a low charge. Forex is a trillion dollar industry. Why teach their own trillion dollar strategies for small price. PAMM would be a better option safe guarding their property. If you decide to have a mentor, please check his myfxbook record first.
A professional trader supplements their income by providing basic lessons on teamviewer, youtube channel, PAMM accounts , copy trades , making forex bots,indicators etc..
All the best.
Interesting topic. Thought i would join.
I being trading forex for around 8 years +
I used to do manual trading. Now, i only does EA trading ( removing emotions out of the equation and getting discipline in return). EA is turned off completely on high impact news days.
I have backtest of EA available from 1999.
If you are lucky to have a mentor, you might achieve your goals earlier or ATLEAST wont loose lot of money investing.
I did have a mentor/teacher though who taught me the basics. However i moved on from him since his goal was only to achieve around 5k per year. I learned from many institutions online , youtube channels etc. I paid any institution once only to ask for a refund as their strategies didn't pan out. I don't think hardly anyone would teach profitable strategies free of cost or for a low charge. Forex is a trillion dollar industry. Why teach their own trillion dollar strategies for small price. PAMM would be a better option safe guarding their property. If you decide to have a mentor, please check his myfxbook record first.
A professional trader supplements their income by providing basic lessons on teamviewer, youtube channel, PAMM accounts , copy trades , making forex bots,indicators etc..
All the best.
Financial freedom
Member Since Jul 20, 2020
341 posts
Dec 19, 2020 at 13:32
Making a profit consistently is a dream of many traders as well as mine. but it is not so easy.
Member Since Sep 28, 2011
26 posts
Dec 23, 2020 at 22:31
(edited Dec 23, 2020 at 22:32)
I have been trading forex for 14 years since 2006 and getting profit only last 4 years. 80% of all my trading activity now it is investing in dividend stocks on fund market and 20% activity is trading commodities without leverage. Using of leverage kills 99% of trading accounts. Start to invest in dividend stocks without leverage and save the money. I have never seen the forex trader in Forbes
If you work hard, you dont have enough time to make money
Member Since Jun 27, 2014
103 posts
Dec 30, 2020 at 14:59
Alexey1979 posted:
I have been trading forex for 14 years since 2006 and getting profit only last 4 years. 80% of all my trading activity now it is investing in dividend stocks on fund market and 20% activity is trading commodities without leverage. Using of leverage kills 99% of trading accounts. Start to invest in dividend stocks without leverage and save the money. I have never seen the forex trader in Forbes
Does it mean, the profits don't come out of Forex, but out of dividend stocks?
You haven't been around lately.
Member Since Sep 28, 2011
26 posts
Jan 03, 2021 at 16:05
fastdrive55 posted:Alexey1979 posted:
I have been trading forex for 14 years since 2006 and getting profit only last 4 years. 80% of all my trading activity now it is investing in dividend stocks on fund market and 20% activity is trading commodities without leverage. Using of leverage kills 99% of trading accounts. Start to invest in dividend stocks without leverage and save the money. I have never seen the forex trader in Forbes
Does it mean, the profits don't come out of Forex, but out of dividend stocks?
If you trade forex without leverage you will got the same profit as investing in good dividend stocks with smaller risk.
If you work hard, you dont have enough time to make money
Member Since Aug 27, 2017
121 posts
Jan 05, 2021 at 14:13
Interesting point @Alexey1979. How about George Soros? Is he not part of Forbes? I love this thread. It gives me the confidence to continue with forex. Some people who posted only seen consistency after 10 years of trading but I'm sure it's worth it. It's a skill of making money and provide for your needs month after month. Good luck to all of us. 😆
Trading is a marathon, not a sprint.
Member Since Sep 28, 2011
26 posts
Jan 05, 2021 at 19:33
It is not good example.
George Soros was one of these bearish currency traders, amassing a short position of more than $10 billion worth of Pound Sterling. Black Wednesday is widely known as the day that billionaire currency trader George Soros broke the Bank of England and made over $1 billion or 10% of profit.
Does common trader have $10 billion to earn $1 billion?
Could the simple trader be a part of Forbes if he makes $1000 using his $10 000 capital?
Soros Fund Management invests globally, and the long positions in the US market reported in the 13F filings represent ~20% of the overall portfolio. The 13F portfolio value decreased ~10% this quarter, from $4.48B to $4.08B. The number of positions decreased from 141 to 132. Very small stock positions and large debt holdings together account for ~20% of the 13F holdings. The investments are diversified, with a large number of very small equity positions, a small number of large equity positions, and a few large debt holdings. The focus of this article is on the larger equity positions. The top three individual stocks held are Liberty Broadband (LBRDK), D.R. Horton (DHI), and Palantir Technologies (PLTR).
https://seekingalpha.com/article/4389180-tracking-george-soross-portfolio-q3-2020-update
George Soros was one of these bearish currency traders, amassing a short position of more than $10 billion worth of Pound Sterling. Black Wednesday is widely known as the day that billionaire currency trader George Soros broke the Bank of England and made over $1 billion or 10% of profit.
Does common trader have $10 billion to earn $1 billion?
Could the simple trader be a part of Forbes if he makes $1000 using his $10 000 capital?
Soros Fund Management invests globally, and the long positions in the US market reported in the 13F filings represent ~20% of the overall portfolio. The 13F portfolio value decreased ~10% this quarter, from $4.48B to $4.08B. The number of positions decreased from 141 to 132. Very small stock positions and large debt holdings together account for ~20% of the 13F holdings. The investments are diversified, with a large number of very small equity positions, a small number of large equity positions, and a few large debt holdings. The focus of this article is on the larger equity positions. The top three individual stocks held are Liberty Broadband (LBRDK), D.R. Horton (DHI), and Palantir Technologies (PLTR).
https://seekingalpha.com/article/4389180-tracking-george-soross-portfolio-q3-2020-update
If you work hard, you dont have enough time to make money
Member Since Aug 27, 2017
121 posts
Jan 05, 2021 at 23:25
(edited Jan 05, 2021 at 23:32)
The best example I can think of are the Turtle Traders. Yes, their chosen markets are very diverse but still, currencies are part of it. I don't see any reason on sticking to just one market.
In addition, have you checked all of the people on the Forbes list? I'm sure there are a few who have traded currencies. I don't think they stick to only one source of income, right? That's not how rich people operates.
In addition, have you checked all of the people on the Forbes list? I'm sure there are a few who have traded currencies. I don't think they stick to only one source of income, right? That's not how rich people operates.
Trading is a marathon, not a sprint.
