Forex as the main vehicle for making money?

FxMaster

Lt. Colonel
Messages
9,011
Its about 8 months I'm practising on Demo account. What scare me is that is stated almost everywhere that only 2% traders are winner and the rest, 98%, loose money. Its really hard to think to be part of the 2%. I have seen that the problem in trading is the mindset (I tried some month ago with a live account and I blow up my money, not to much anyway). I'm trying to develop some cBot (cTrading EA), to esclude me from mindset problem. I'm getting some not bed result I just need to refine the trade closure as I dont like to use on cBots SL (considering the bad habit of some broker to hint it). My cBots signals for entrance is mostly good but the problem is the right closure. Now I'm using some filters to reduce the "noise"...lets see...!!!
You can end the day with profit too, Its all depend on your strategy + patience + Knowledge :)
 

nahiyar

Private, 1st Class
Messages
788
Forex is main vehicle for many people who are working full time with forex. I think they decide about forex to go with it as main earning source after some experience. They had confidence that they can make easy income for their needs. If you are low in skill do forex as par t time not for main earning source.
 

Jeff Martinez

Recruit
Messages
100
Not for everyone here in forex market whose main vehicle is currency trading to make money. I think very few professional or expert level traders can make money here as their main income source. Otherwise, most of traders losing money for many reasons. But yes many of us want to make forex trading as our primary income source.
 

Sikandar Mirza

Recruit
Messages
93
One can make serious money from Forex, but it all needs us to be at top of our game and also be fully confident. It’s not easiest thing but you can’t be on top level without having skills. So, it is must that we focus on getting skills right and confidence is the major factor for all this. You get it all when you practice day in and day out, it’s not going to come instantly but steadily.
 

nahiyar

Private, 1st Class
Messages
788
I own that forex is not easy as people think about it . Specially when you decide to make it your main earning source you had a lot of risk with it. There are many ups and downs , You have to wait for several days even for profit. If you are ready to accept this challenge you can work with it as full time trader.
 
Messages
72
For me all type of trading is good and profitable. Also every sort of trading has loss. As I am a forex trader I can say about it better. In forex trading there are two types of trading. Binary and forex trading. I am not use to with binary trading. Because forex trading has leverage facility and also different broker offers different spreads. You can choose as your requirement. I always trade in small lots to stay safe.
 

REKlement

Recruit
Messages
12
Forex has more opportunities. Different options for trade, investment and strategies. Be careful when choosing a broker. I'm disappointed in the binary options and I prefer the forex.
But the name of the thread is a bit wrong. I advise you not to use the risk business as your main source of income.
 

Great

Recruit
Messages
13
Forex has more opportunities. Different options for trade, investment and strategies. Be careful when choosing a broker. I'm disappointed in the binary options and I prefer the forex.
But the name of the thread is a bit wrong. I advise you not to use the risk business as your main source of income.
Yes, you are absolutely right. You can't regard any risky adventure as the main source of income. And yes , forex less risky than binary options.
 
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