Could you really earn a living only with trading?

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Old Dec 25, 2008, 2:47pm   #1
 
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Could you really earn a living only with trading?

Well, the forex seems good...I wonder, when a lot of people will do forex you will earn less?
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Old Dec 25, 2008, 3:07pm   #2
 
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some will make loads, some will make a little, some will lose a little, some will lose loads.

Merry xmas
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Old Dec 25, 2008, 3:21pm   #3
 
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According to the U.S. Department of Labour the federal minimum wage for employees is $6.55 per hour effective July 24, 2008. If you become proficient at making an average of 1 tick profit/trade per day with the ES contract you will make around $6.55 profit (after commissions) per trade/contract. You would only need to scale up your trading to 8 contracts and you will be earning the same as someone working for the minimum wage.

Some of the main advantages being:
  1. You are effectively working for yourself
  2. You (in principle) get to work your own hours
  3. You donít always have to work a full day to make the same amount
  4. You increase your wages whenever YOU feel ready

Some of the disadvantages:
  1. Income is not guaranteed
  2. Money is lost
  3. You get no other benefits ie/ sick pay, workers compensation, holiday pay
  4. Boredom, isolation

However, the main problem with those who enter the trading profession is that they want to earn enough to buy a brand new Ferrari and Gold Rolex watch within 3 months. In other words, most see trading as a quick and easy ticket to a fortune and refuse to accept anything else in the interim, or worse, refuse to do what is necessary to get there.
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Thanks! The following members like this post: luckyd1976
Old Dec 25, 2008, 3:41pm   #4
 
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giovanni started this thread well New trader is very wise. But if EVERYONE in the earth wanted to earn something in the forex, what would it happen^
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Old Dec 25, 2008, 3:45pm   #5
 
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Quote:
Originally Posted by giovanni View Post
well New trader is very wise. But if EVERYONE in the earth wanted to earn something in the forex, what would it happen^

What if EVERYONE on earth wanted to be a Doctor? There would be no plumbers, electricians, street sweepers, accountants etc.

You can't always get what you want. But if you try sometimes, well you just might find,
You get what you need!
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Old Dec 25, 2008, 3:51pm   #6
 
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giovanni started this thread
Quote:
Originally Posted by new_trader View Post
What if EVERYONE on earth wanted to be a Doctor? There would be no plumbers, electricians, street sweepers, accountants etc.

You can't always get what you want. But if you try sometimes, well you just might find,
You get what you need!
Im a doc. Well, the more people want to do the doc, the less we earn
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Old Dec 25, 2008, 4:03pm   #7
 
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Quote:
Originally Posted by giovanni View Post
Im a doc. Well, the more people want to do the doc, the less we earn
I can't see how this works. The amount you earn as a Doctor is dependant on the number of patients who come to see you and not on the number of Doctors, surely? You could argue that the more Doctors there are then the fewer patients there are to go around, but that isn't strictly a direct relationship. You could double the number of Doctors and quadruple the number of patients. But this is an academic argument anyway. The real issue is about those who want Vs those who can.

Trading isn’t a direct comparison in any case simply because the money pool grows with the increase of traders, it doesn't get diluted. Just like a poker game where the more players there are the bigger the money pool gets.
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