I can say that I am a full time trader.. 14 hours a day , that would make it more than full time by 8 hours standard. I did lose money before ( but it is all for understanding why I am wrong and price to pay for not being in control), roller coaster psychological dealing, but it is all stable now. I ' ve been involved in forex since 2003, and focus on it ever since. I've been paying 500 usd/month for professional chart from real tick + api data the past 10 years (+ 3 more years from stock/futures trading). Chart is bread and butter of seeing market from technical analysis point of view, so money is well spent on realtick to get professional charting, and providing much clearer view of market. There is a lot of noise in market signal depend on what TA you look at, only when I can see through those noise and see the few true signal in it, then trading can be stable + real time balanced management to positioning entry. Seeing true signal (meaning once signal appear, it must go that way, not most likely, not maybe) + real time balanced positioning entry + being in control of psychology then you have a real job in forex trading just like any other job. That was my dream more than 10 years ago, this is the first year that I feel like I got a hold of it. In total , it took me 13 years of trial and errors and critical analysis to see it (you talked about spending 12-15 hours a day decoding market like I have no life). 2 months from now, I will have something interesting that will be game changing to anybody who are serious in forex trading. For those who are poker player, you know the nut hand, mine will be called the nut trade and I am willing to put 1000 USD on the line for those who call my bluff, just like the game, except you only call with 10 usd to take 1000 usd pot and I will only take calling 1 person per trade that I call the nut trade. It sounds nut (thus the name), but I am that kind of guy who do thing a bit differently (but realistic interesting to prove a point). Now I understand why galileo, einstein was labeled as nut when they first introduce their thinking. Mine is simply true signal in market = real job in forex trading. Regardless the nut trade turn out to be consistent or not, it just a reflection of my level of confidence in what I have decoded, not necessarily the holy grail in trading.. but if I can call out 100 the nut trade, and get 99 right to 100 separate people (I budget 10k in case I lose 10 trades out of 100)..then I believe I made my point. My definition of this nut trade is max 3 entry within 50 pips stop loss, which ever entry touch 50 pip stop loss first, it is a loss trade. Total pips of max 3 entry win is a win ... Depend on market condition that I will set that I have to win by how many pip. If I have to exit early and win small, I won't take your 10 usd, if I win by amount of pip stated ahead of time, then I will take your 10 usd. If I lose, the 1K is yours, transferred via paypal, no question ask. Real time screen view via join.me on smartphone/ pc and text message ahead before entering trade and everybody can witness it at same time for those who wish to witness the trade. I will do 100 trade set. If We can have elitetrader admin to be the judge and hold the 1k before I accept any 1 bluff caller, then it would be wonderful. because it would make sure that I am not kidding about payout 1k if wrong on the nut trade. Past result is not indicative of future performance, so I will prove real time with the nut trade. 95% of traders would agree to what I am saying about past not mean future. Believe me when I say this, I don't do this stunt for gaining attention or whatever, I don't need it. I do it so that any trader who suffer psychological, financial due to loss in forex trading (I know very well of this) because they are enticed by its movement and number but still hanging around (but will ultimately be wiped out) can at least realize that there is a right way doing it, but it had to take the right kind of voice that they would listen, ultimately to save themselves and better yet to have a real job in forex trading.
I don't know are there any traders full-time trade by themselves. But I know some brokers hire trader to trade full-time to check their system.
If you are able to do this, I'll reckon you started out with a substantial sum from a source other than trading the FX market.
Currencies are no different than any other markets. Same principles of speculations apply, so of course there are profitable traders who specialize on currencies.
Wrong-- retail FX is a dealer based model that is ripe with shenanigans by the dealers. Not without being of a particular capital size and within the information flow--- otherwise, these folks and pro-gamblers are the same-- meaning very very few and most of them started from a position of wealth. Fantasy and self delusion runs deep in chat forums. If you don't get this, perhaps you are the mark.
What, like the "if I cant do it no one else any where on earth exist who can" type of fantasys? This forum is so juvenile at times it hurts my head...
I have 20 years of experience dealing with traders and markets. I have only seen successful retail fx traders on the Internet. Never in real life. They don't exist outside of the third world and net fantasy.