Is it really possible to make money in this trading lark?

This is a discussion on Is it really possible to make money in this trading lark? within the First Steps forums, part of the Reception category; Originally Posted by richardcartieruk Hi Kazza, I been looking at your messages. I am new to this game as well, ...

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Old May 27, 2007, 9:10pm   #241
Joined Feb 2007
Quote:
Originally Posted by richardcartieruk View Post
Hi Kazza, I been looking at your messages. I am new to this game as well, I have bought and sold shares long term in the past, and have made money from it, I have never really lost, I suppose because it was long term and you can wait for the right time to sell.

But to do this for a living I would have to put alot more work into to make good money, I am sure you can make money from it. The question you must ask yourself -is what happens to the money that put in your bank? You dont see what the banks are doing with your money do you? Well let me tell you. The banks take you money and the play the markets with it, thats how the banks make massive profits. So you really loan the bank money when you bank with them and they take it and invest it in fx and on the stock markets.

If they were loosing all the time well.... think about it.

Regards

Richard

This post reminds me of a book i need to read...

Traders, Guns and Money.

By, Satyajit Das.

Sounds good. Anyone read it.
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Old Jan 11, 2011, 9:29pm   #242
 
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Re: Is it really possible to make money in this trading lark?

Hi everyone, I am new to this site so forgive me if I am wrong.
The question is very simple and is waiting for a simple answer. I have not read all the post on it, but from what I've read it is clear that there is no one good enough to say: "Yes, I do trading for a living and I make £££££ a year."
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Old Jan 11, 2011, 10:13pm   #243
 
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Re: Is it really possible to make money in this trading lark?

Quote:
Originally Posted by VINSWAY View Post
Hi everyone, I am new to this site so forgive me if I am wrong.
The question is very simple and is waiting for a simple answer. I have not read all the post on it, but from what I've read it is clear that there is no one good enough to say: "Yes, I do trading for a living and I make £££££ a year."
Yes looking for that guidance as well Vinsway , all I get is "smart" comments . Shame
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Old Jan 12, 2011, 7:59am   #244
Joined Sep 2010
Re: Is it really possible to make money in this trading lark?

Quote:
Originally Posted by VINSWAY View Post
Hi everyone, I am new to this site so forgive me if I am wrong.
The question is very simple and is waiting for a simple answer. I have not read all the post on it, but from what I've read it is clear that there is no one good enough to say: "Yes, I do trading for a living and I make £££££ a year."
"Yes, I do trading for a living and I make £££££ a year."
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Old Jan 12, 2011, 6:58pm   #245
 
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Re: Is it really possible to make money in this trading lark?

I don't do trading full-time as I'm a student. I managed to double my trading account from £3000 to £6000 during 2010. Like everywhere it is probably easy to make a few thousands like me (without much work). It would be much for difficult if you're interested creating a large income from trading that can sustain the lifestyle you wish.

Happy Trading!
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Old Jan 18, 2011, 8:48pm   #246
 
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Re: Is it really possible to make money in this trading lark?

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Originally Posted by traderman1 View Post
"Yes, I do trading for a living and I make £££££ a year."
Hi Traderman1,
Thanks for the frank answer. So now we all (the poor newbees) know that it is posible to make money from trading and that there is at least one real, good and brave trader on this forum.

Thanks
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Old Jan 19, 2011, 9:51am   #247
 
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Re: Is it really possible to make money in this trading lark?

I am a complete newbie to this forum and only got to page six of this thread but believe the answer to question was answered on page 2 by davegos :-

"I firmly believe that the psychology of trading is the single most important aspect but the only way you can adress this is to trade and you have to accept that until you master yourself you will lose money and if you cannot achieve that mastery you will lose your entire trading capital sooner or later. "

If you are trading forex, it is critical to learn the basics (which takes time) and get some experience of actual trading to find out the pitfalls that are often not mentioned e.g slippage and news anouncements, but ultimatley unless you are a disciplined person you will fail. I am not sure you can learn this discipline, I know I certainly haven't.
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Old Jan 3, 2012, 12:36am   #248
Joined Nov 2011
Re: Is it really possible to make money in this trading lark?

Quote:
Originally Posted by VINSWAY View Post
Hi everyone, I am new to this site so forgive me if I am wrong.
The question is very simple and is waiting for a simple answer. I have not read all the post on it, but from what I've read it is clear that there is no one good enough to say: "Yes, I do trading for a living and I make £££££ a year."
It is easy to make money trading as long as you are market savvy and have a understanding of economics, foreign exchange, and financials. All you need is a good money management strategy. I make a decent amount of money trading and the ONLY time i have SIGNIFICANT losses is when i don't follow my own money management trying to make a ton in a short time. Don't aim to become a millionaire over night (you will always lose, take it from me i lost 5 figures in 1 day), aim to make a steady living and you will succeeded if you work hard and put your mind to it.
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