how is making money in forex

I have been in front of my screen like 11-12 hours most days. So it basically comes close ... 3 years seems about right ... but you need to focus on these hours ... not just looking ... it's an active thing

 

I've been trying, part-time, since approx 2007. I have a business to run, so it's not easy to put more than a couple hours a day into screen time, and I've taken a few month-plus breaks.
I trade micro-lots, 0.50 cents per pip, and I've been margin-called on a couple occasions. At one point last year I had actually built the account from $200 to over $2800, then revenge-traded the bastard right back down to $43.00.
Am I a "trader"? No. Do I "trade"?. Perhaps.
Never claimed to be more than a piker, and trust me, the market will humble you much more than some of the posters here.

David

 

Well said!

 

What are some good methods you would recommend to learn Forex trading in a year? I've been researching forex for a little over 3 months and have just worked on practice accounts.

 

Making money in forex has never been better.

 

Passion makes perfect.

 

exactly! Couldn't have said it better myself. It can really burn you out by the end of the learning curve. But once you have it down and understand how the markets operate it becomes as easy or complex as you want to make it.

 

I've blown out 4-5 accounts in the learning process. The key is to start small and stay small until you become consistent. That way by the time you get good you haven't put yourself in such a deep hole you can't get out. It was worth it though. I've spent more than 10k hours(5 years) and have learned more about how the markets operate than the majority (and there are still guys out there who would clean my clock any given day of the week). HOWEVER, it's rare I lose money on a given day now. I have my strings of losses but when I lose I know it's just a matter of time before I make it back... With interest. I will say this, once youre profitable the amount of money it cost you to learn the game is insignificant. You'll make everything back much quicker than you lost it.

 

It's not for everyone though. It takes more passion than you would believe.

 

1. no one will be more care about making money for you than yourself.
2. patience, waiting for right setups, then no fears to execute your plans.
3. be flexible, not opinionated.
4. it is lot hard work, strange hours, reward is also sweet.