Spot FX : who makes $$$?

Discussion in 'Forex' started by Kicking, Apr 24, 2004.

  1. izeickl


    Rezo, a guy who has a journal going on here...apparently, has a good record of past two years 100%+...can visit his website, and he has posted 99% of his trades either on here or on MoneyTec website. Hes more a swing trader, picking few trades per month...
  2. rezo_s


    Hi Guys. Thanks izeickl.

    Well, its no easy money and therefore I should say anyone who has an approach of "easy" money should better go and enjoy spending it in Vegas.
    What can I say - maybe I am not that good, but I make money on FX and that is my main income. I don't have any other job. I am actually an investor myself and my current main investment at the moment is building up my business and taking it each step at a time. Now we are about to set up a company based in US, starting to work with auditors (one of the largest auditors in the world - deloitte), I am also willing to register as a CTA - it was in my plans for long time now, but its not that simple and convenient to be done outside may take more time and is not that convenient, but it should be and will be done asap.
    So yes, if their is any business that works, it means it is profitable. Of course, biggest winners and those who make most profits of this business are the brokers, but others may also make money in this business. Its true, the percentage of the other side who make money is little, but it is still there. there are those who say only 10% make money, there are those who talk about even more scary numbers... but actually what I have once read is even much more terrifying... I think it was about traders in general, and I don't recall it exactly... but from what I remember it was told by one of the traders trainers: only one of 200,000 people become professional and profitable traders... maybe I don't recall it correctly, but that's what I remember, so don't judge me :)
    This is no easy job. stressing, demanding and unforgiving for mistakes as no other. Each little mistake costs money. You have to make more to earn something after you lose. gotta have discipline and nerves from steal. You have to be able not to think about the money even though you deal directly with money. You have to accept the market as it is, because you cannot compete, beat or make friends with it. No matter what you do, its always there. Lots of people come and go, but market is still there. You know you are not even a little fish in this market - you don't even exist in it, but you still try to make money on it. I mean, what are coupel millions for over 1 trill market - there are indications it has even more volume lately.............long story, a lot more to say, but its weekend now...lets just have a rest :)

    enjoy the weekend

  3. do you post on your journal

    or thread ... some of your risk reward parameters

    when trading FX and do you ever try cross rates?

    i.e. long EUR short GBP
  4. what is it then ?
  5. rezo_s


    Hi SethArb.

    If you mean stops and tgts, the yes, I always do.

    As for other pairs except for the 4 majors, well I trade aussie and canadian and 2 more EUR crosses: eurgbp and eurjpy.