There were times when I found it difficult to keep my head up, or face my friends and family after a string of losses.

9 Things You Didn’t Know About Successful Forex Traders in

The sort of freedom suit wearing wannabes can only dream of. It takes time and diligence to succeed. New traders generally give up after a few months, or maybe a year due to repeated failures. Probably not. Most business take a few years to generate a profit, and trading is no different.

Those that lose money over the long term are quitters, likely moving onto the next hot money making scheme read: crypto trading, affiliate marketing, facebook advertising, amazon dropshipping. They eventually get bored, followed by failure, only to go going back to their regular boring job to sell their time be sure to read our blog post on why you need to stop selling your time.

So to answer your question — Yes! You can make money trading the forex market, I do well, and have several colleagues that also pay their way handsomely through life with their trading profits.

Come and join me inside the trading room so we can discuss just what it takes to become a professional trader and make a living from day trading. I stream live each day after Joel Kruger, midway through the London trading session. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

Put the above disclaimer on a track record and a vendor can say anything they want and of course they do. These track records never lose in hindsight but of course in the brutal world of real trading they get destroyed. Day traders think that by trading within a day they reduce risk - but of course there is no point in have a small risk to your stop if you have a high probability of it being hit!

1) Forex is not a get rick quick opportunity

Day traders get lots of small losses that simply eat into and destroy their equity. If their lucky enough to get a profit, they take it quickly which of course breaks the fundamental rule of trading - run your profits, to cover your inevitable losses. Day traders lose and wonder why but the reason is obvious - they simply can't get the odds in their favor - PERIOD The Way To Win If you want to win at forex trading you must get the odds in your favor and this means using reliable data.

If you like the excitement of trading try forex swing trading, if you are more patient try long term trend following. Both the above will allow you to trade the odds and enjoy currency trading success so try these methods and do not try forex day trading. Most Popular.

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