I know that brokers, signal providers, ebook/tool/strategy sellers, and broker affiliates are making a killing from Forex trading.

But I am not so sure if there are ordinary people making a living from trading. I could be wrong, I guess. I just feel those groups I mentioned are the ones that make the money.

Are there really 'regular' traders who make consistent and considerable gains year after year out there from trading forex?

Your input is needed.

The only people making the money are the set you have mentioned.
Started trading forex in May and till date in a loss of over #20k. Meanwhile my broker will celebrate your profits and downplay the losses referring to them as professional losses.

Funny the professional losses are always more than the profits.

jidemoh:
The only people making the money are the set you have mentioned.
Started trading forex in May and till date in a loss of over #20k. Meanwhile my broker will celebrate your profits and downplay the losses referring to them as professional losses.

Funny the professional losses are always more than the profits.

Hello can u teach me d basis of forex trading I want to start

jidemoh:
The only people making the money are the set you have mentioned.
Started trading forex in May and till date in a loss of over #20k. Meanwhile my broker will celebrate your profits and downplay the losses referring to them as professional losses.

Funny the professional losses are always more than the profits.

Wow. This somewhat confirms my suspicion.

I have yet to see someone who has traded live Forex for 5+ years and still continues without belonging to any of the groups I mentioned.

Yours is actually better. I have heard of those who lost hundreds of thousands, or even millions, trading.

Wow.
Now, lemme explain something you guys don't understand.

In forex, there are 2 types of traders

1) Technical Traders (These guys use indicators).

2) Fundamental Traders (These guys can just look at a chart and predict the the movement).

So as a newbie, you need to define the type of trader you want to be.

What I advice most newbie to do is learn to use indicators at first and gradually, you'll advance.

I am a forex and crypto currency trader and so far so good my company has been making money from trading.

If you must know, there are strategies you can use indicators to execute trades and you are bound to be profitable.

You just have to understand that greed kills.

PARABOLIC SAR (Step: 0.01 Maximum: 0.01)
EMA: 30
SMA: 13

I dash you this one.

Am yet to see a fellow who bought a car,or built a house through forex trading and all I keep hearing is losses upon losses,for me I think the whole forex thing is a scam

My advice to all does wanted to go into full-time fx trader that is very risk I'm once a victim so is better to invest if you have $100,000 to a broker you trust.

Damentia:
Am yet to see a fellow who bought a car,or built a house through forex trading and all I keep hearing is losses upon losses,for me I think the whole forex thing is a scam

Well, I have. I've seen people make a killing off trading forex. But it takes a lot of knowledge, experience, self control, discipline, foresight and intelligence. What you see are greedy folks who just want to become millionaires overnight.
A distant friend trades and is happy with making 30% a month. He's raking it in.

danthamccoy:

Well, I have. I've seen people make a killing off trading forex. But it takes a lot of knowledge, experience, self control, discipline, foresight and intelligence. What you see are greedy folks who just want to become millionaires overnight.
A distant friend trades and is happy with making 30% a month. He's raking it in.

30%, even 10%, a month isn't bad in my own estimation. But I can bet that many traders can't even boast of that. If they could, they would simply have gone in with a larger capital.

SmartMindsfx, I agree that greed kills. But the traders I have seen find it hard to break even, including signal providers.

ThaThinka:


30%, even 10%, a month isn't bad in my own estimation. But I can bet that many traders can't even boast of that. If they could, they would simply have gone in with a larger capital.

SmartMindsfx, I agree that greed kills. But the traders I have seen find it hard to break even, including signal providers.

I agree with you.
I have a naira account on FXTM and I only focus on 20 pips per trade.

I laughed as I read through this thread. I so laughed.

The fact is, there are profitable traders. It's just that we are few. By profitable, I don't mean making 100 percent monthly.

Its obvious only OP and JerryQ are the two people really making money from forex.

Well done Sirs.

I'm a programmer by profession and I made my custom robots and indicators that trades for myself autopilot. The hardest part of trading forex is staying on the screen looking for opportunities to trade.

However, auto robot / ea can do these for you while you're sleeping.

in case you need to create a profitable forex robot or you have a working strategy that you want to turn to robots, you can contact me on

0 9 0 7 2 82 2 2 5 5

ajoyeleke:


Hello can u teach me d basis of forex trading I want to start

you don't need to rush it. if you want to go into forex trading, learning price action should be your focus because trading with naked chart gives you professional view of the chart

fxstory:
you don't need to rush it. if you want to go into forex trading, learning price action should be your focus because trading with naked chart gives you professional view of the chart

Thanks for d insight

Pls can u be kind to put me through

SmartMindsFx:


I agree with you.
I have a naira account on FXTM and I only focus on 20 pips per trade.

Sire, if you are really making money strictly from trading, could you let me in on your strategies? I know you already hinted at one, but more please.

greyham:
Its obvious only OP and JerryQ are the two people really making money from forex.

Well done Sirs.

OP?

[quote author=ThaThinka post=73746698]

Sire, if you are really making money strictly from trading, could you let me in on your strategies? I know you already hinted at one, but more please.

You'll have to earn it.
Nothing comes easy

YES!
As a matter of fact, many "ordinary people" have become 'extra-ordinary' by trading forex.

There are some persons out there making it while some others are struggling. Knowing the HOW and applying it makes the difference.

CLUE: Price Action is the answer.

I wish you the best.

One thing I am sure of is that your win is another's loss. People will aways loss

ajoyeleke:

Thanks for d insight

Pls can u be kind to put me through

there are lots if video tutorial out there for this. got no time for teaching for now

forex is sweet but for me it is course of its own. i have made money and i have lost money but i will advice you to learn it like you learn your four or five years course in the university to gain experience. thanks op

yellowman2225:
I'm a programmer by profession and I made my custom robots and indicators that trades for myself autopilot. The hardest part of trading forex is staying on the screen looking for opportunities to trade.

However, auto robot / ea can do these for you while you're sleeping.

in case you need to create a profitable forex robot or you have a working strategy that you want to turn to robots, you can contact me on

0 9 0 7 2 82 2 2 5 5

Post your ea performance on live account here, at least 6 months. Mention me when you post.

[quote author=SmartMindsFx post=73749889][/quote]

Um, so how do I do that?

franticfargo66:
be the holy grail to turn your life around.. I wish you all the best and succes in your endeavours.[/font][/b]

9. Finally, I'm looking for fellow naija guys like me who are setting out or are already on this journey.. most of the people I know/learn from aren't Nigerians and that just isn't cool enough.. you can send a message to my inbox here so we'll do this together .

Hi, I just sent you a mail.

Do respond. Thank you.

franticfargo66:
Good post this one .. Kudos to OP for bringing up this topic.I'll give a bit of background of what I know of FX trading..


1. It is actually a really profitable industry but you're less likely to make money from it than you are netting a good paying job as a Nigerian graduate... research has shown that 95% of traders fail to make positive returns over an extended period of time. YOU CAN DO YOUR RESEARCH TO CONFIRM THIS. So if you're thinking it's the easy way out for you.. well it isn't.

2. I knew a friend while in school who was a trader and makes pretty good returns, he taught me a bit but I never managed to trade profitably (he travelled out a few years back and that was when reality hit me that he really was making cool cash).

3. I'm learning to trade now and have given myself a timeline of one year to invest in myself the knowledge and practice to succeed at it.. if at the end of the year my demo account doesn't return at least 5% a month..
then I'll know forex isn't for me (I'm currently up by 3% in 1 week but I know that the storm is still coming .

4. Please don't just ask people to teach you how to trade (find someone who has been trading and has a history of sustained profits first, then ask him to teach you.) I can tell you one hundred things about trading but that doesn't mean I'm an expert.( A really good place you can start is babypips.com there are over 300 lessons on forex there.. if you cannot have the resilience to finish the lessons after starting.. and aren't willing to spend at least a few hours daily learning and practicing what you learn, then you can never trade profitably

5. I have set aside a particular amount of investment for an account manager to trade on my behalf for a year.. that way I'll likely have a bigger pool of money (experienced traders have bad months but rarely end a year without profiting) to trade with if I have managed to excel at trading.

6. Forex trading is a never ending learning process as the market changes everyday so don't think there's someone who knows it all.. all you need is a strategy that works for you and stick to it...

7. If you can manage to succeed at FX trading.. you'll have escaped the Nigerian economic chain holding most Nigerians back through poverty.

8. I'll hopefully be creating a thread soon on how my investment and training is going so watch out for that.. if you're like me and hoping forex will be the holy grail to turn your life around.. I wish you all the best and succes in your endeavours.

9. Finally, I'm looking for fellow naija guys like me who are setting out or are already on this journey.. most of the people I know/learn from aren't Nigerians and that just isn't cool enough.. you can send a message to my inbox here so we'll do this together .

Number 7 is the most powerful point up there.

You have to be ready to learn everyday to succeed in forex trading. It becomes easy and boring when you get the hang of it.

You are so correct!

greyham:


Number 7 is the most powerful point up there.

You have to be ready to learn everyday to succeed in forex trading. It becomes easy and boring when you get the hang of it.

I'm setting off on this path from the scratch in 2019.

DrMeroThaEmperor:
I'm setting off on this path from the scratch in 2019.

I will be glad to set you on winning ways. Mention me when you are ready.

Fxwarrior:


I will be glad to set you on winning ways. Mention me when you are ready.

I'll be glad to have as much mentorship as I possibly can from experienced traders.

thetruthmale:


Hi, I just sent you a mail.

Do respond. Thank you.

Alright Sir