When you backtest forex using price indicators, and I mean properly backtest where you can see all the code and intra-period movement, these markets perform poorly compared to other markets. This is why new traders need to be very wary, as price indicators are usually the first trading methods that are 'taught'. It doesn't really take a genius to work out why forex performs poorly with price indicators, when you consider that it's 'squeezed' within a quite definite band of 'possible' prices, whereas stocks and indices and the like are open-ended price-wise, rising as high as demand/supply takes them. As a rule of thumb, you just need to measure the percentage of outside days in forex markets to see that's its volatility makes it no place for the unwary. If you need a cautionary tale about the (retail) forex bandwagon as you're making your way to school, read Pinocchio.
I saw one a few months ago but he stopped posting but I really think that they exists. They just don't show up that much on communities.
There are people who make money from trading forex but very few indeed. I have invested money with some managers as I am not that very good with trading but it is great when risking own money in fx market. But to make income out of it, I prefer to leave it with people who know how to trade. My manager runs a strategy that is risking around 4% per trade with stops at all times. He closes when system tells him to exit, whether in profit or loss. If stops hit, tough luck. Because it is system based, it cuts out mistakes. Trades can vary between 15 to 40 positions per month. This is how professionals trade. 4% per per trade risk seems a lot but it is not like I have invested 10M. I would like to get there in 5 years time.
The reason why there is a few success stories in FX is simple. This market is relatively new to people. Succesfull traders in futures or equities do not want to switch to unregulated FX market. They are confortable in what they are doing now. The other factor is : FX brokers. Today I would have put my money only to three or four FX brokers that exist on the market with one being the leader and most reliable. IMO if a trader is long term succesfull in other markets than FX he/she will be doing weel in FX as well. This is a new market where most brokers try to rob people.
of course there are, some are in forums, other simply stick to trading nothing more, we are traders as well dont you forget that
Actually, I a part time Forex trader. Because, I am a student. But, now I can use my trading as a full time Forex trader. Because, I can use my mobile phone for my trading. Actually, ‘GCI’ trading broker helps me very much to use mobile trading. Because, get proper trading environment for mobile trading without any fees. So, now I can use all chances for making money.
Many full time forex traders do exist, and they take forex as a carrer. Forex is not easy to become a winner and get constant winner all the time, it need much time and efforts. Moreover, forex businss is charming, many people are attracted and devote to forex.
I still hold on to a day job, I do make more in forex than my regular job, pay in south east asia are not that big, but i still stick to my job, its like a window to what we call society LOL
Why do you make all the time publicity for CGI? So you are a student and trade forex from your mobile phone successfully??? I traded 10 years forex. For me your are either a genius or a scam. I know my answer on the question already. PS: Does you mobile phone have a 17" screen? You know the difference between a loptap or a desktop and a mobile phone?
Full-time forex traders exist, forex has become a long high history and there are many successful traders. As we know make long term profit is not easy, but with hardwork and keep learning, it's difficult but pos