Comments on: Day Trading Forex possible to make a living?

By: Suzane P

Suzane P — Thu, 29 Jan 2009 13:05:59 +0000

Hi there,

Yes it is possible to make living from day trading but you just need to be consistent and well planned. Do not greed when you are making profit, also control your emotions is the hardest part in day trading,

Therefore i would recommend you to trading forex for fun initially and when you start understanding markets deeply go into smart trading and earn consistently.

Thats the way even i am trading with finexo.com and earning my living from it.

Regards
References :

By: Jane B

Jane B — Thu, 29 Jan 2009 12:20:59 +0000

You can also make money on a "breakout". That's a stock that's hitting a new trading high or low that day.
You can also make money by "scalping", or getting a thin piece of a rapidly-rising stock's upward momentum. Buy 1,000 shares of a $35 stock, hold it for 10 seconds, and sell it for $35 1/8.
Of course, that's if you're any good. Many people just don't get it.
Jane B
References :
http://www.doublingstocksnewsletter.com/day-trading-robot-make-6k-in-24-hours

By: learncfds

learncfds — Thu, 29 Jan 2009 12:09:59 +0000

Opportunities are what you make of them. i've traded forex since 2005 and have made a steady but small income. Prior to that I traded shares, options, Contracts for Difference http://www.learncfds.com/ and indicies prior to learning forex.

Making money can be done but its hard. The best have undergone years and years of personal development courses in order to get in control of their emotions and mindset.

As Forex is an opportunity and now you know the costs to get started (possible 1-2 years of losses) you need to decide if you are going to get started or not.

Start very small, don't get greedy and have lots of patience. It takes years to make a decent living in any profession and trading is no different. Expect to take 5-7 years before you really start making any money.

Here's an article about setting realistic expectations. http://www.learncfds.com/Realistic-Expectations-&-Goals-for-the-Beginning-Trader.html

Good luck.
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By: John C

John C — Thu, 29 Jan 2009 12:02:59 +0000

I've got to answer this one Forex is all my all time favorite financial instrument in which I achieved profits with.I've been trading for about 3 months now so I'm new myself but I asked myself the same question you asked.Yes I honestly believe one can day trade forex for a living the odds are better than with stocks if you ask me.Anyways I recommend you first get educated on what forex is how's its traded how to develop you're personal strategy technical indicators n etc.A good place to start is http://www.babypips.com excellent website that does just that.Explains the basics with simplicity n doesn't confuse one that is new to forex.I then would practice trade for a while a least a month or 2 to get the hang of things.This way you aren't risking your own money.As far as an actual forex ea or robot goes I would look at some reviews n such first.There are 2 or 3 out there that I like but I would say find one you like then try it out on your practice account for a couple of weeks first.Just remember significant risk is involved as in any other investment.Hope this helps you out n the best of luck to ya.
References :
http://www.babypips.com

By: little helper

little helper — Thu, 29 Jan 2009 11:12:59 +0000

yes U can make a living trading forex! The Best System I used So Far is At Click on Source
References :
http://www.fxpot.com/

By: Guy Incognito

Guy Incognito — Thu, 29 Jan 2009 11:03:59 +0000

I trade FX as well as stocks and I used to be a professional trader.

Succesful trading really has to do with emotional control and dscipline because its based on odds. The odds are usually not higher than 55:45 in your favor so expect to lose fairly often. It is extremely nerve wracking and it takes lots of money you can AFFORD to lose to do succesfully as a professional. Most likely at least 25K. It also takes years to learn and often with huge losses. You make the big money in usually only 20% of the time, the rest try not to get torn up in the markets. Its a good job for adrenaline junkies but its not for everyone.

Yes people say 90% of people fail to make it, however so do 90% of doctors and lawyers. Its about how much you want it and how hard you wanna work at it. But it most definitely IS possible.
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By: the d

the d — Thu, 29 Jan 2009 10:21:59 +0000

sure, you can make money AND…

you can also LOSE EVERYTHING in matter of minutes too.

Forex is SUPER high risk., It's like the morphine of pain killers to level of investing.
References :

By: waldguy

waldguy — Thu, 29 Jan 2009 09:45:59 +0000

I've read fairly extensively on this. Most people who try forex trading lose money, in the range of 80-90%. The rest who make money consistently apply rigorous rules to their trading and have the discipline to manage their emotions. A few claim to make money using computerized models as well with varying success. Is it possible? Sure. Is it probable? No.
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By: muncie birder

muncie birder — Thu, 29 Jan 2009 08:58:59 +0000

More possible to go broke.
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