How i make a living trading forex


#1

Those who make the money in the forex market are the ones who don’t try to predict tops and bottoms and how far the market will move but who consistently take a little out of the middle of the trend with minimum risk, The only logical way to do this consistently is through a well thought-out, well-designed strategy ,For me, strategy trading is the only answer to the problem of fear and greed in the forex business; it is the only logical way to take advantage of the concept of Market Facilitation. First, trading a strategy provides the discipline necessary to begin overcoming fear and greed. Trading a strategy that has been back tested on historical, quantifiable data is a major way to inject discipline into your trading and to begin to control your fear and greed. If we think of a trading strategy as a small business, we can design our business to make money based on historical simulations. Then, our job becomes the implementation of the strategy rather than the interpretation and prediction of the market. If the strategy loses money and busts, we change the strategy. It’s a matter of good business sense. Second, if we know that the market must facilitate trade and trend to stay alive, we can devise strategies that guarantee that we will always be in for that inevitable big move. If we know that the big move will eventually come, and devise the strategy accordingly, our task becomes to minimize the drawdown while we wait. I have never been able to predict when the market was going to facilitate trade and get in for the big move. Instead, I have devised strategies to ensure that I will be in for the big ride and my losses will be minimized while I wait. It’s just a matter of good business sense. As a businessman, I have concluded that the only rational way to trade the markets is to trade a strategy. Predicting when the market will move up or down, and how far it will move is just probability and gambling


#2

you blew my mind with this. i agree with you and this is the exact philosophy i subscribed to as well.


#3

I can't agree more with this. It is very true and real. Those who spend their times looking at screens trying to predict tops and bottoms and how the market will go end up losing. It is always wise to take a break every now and then to monitor the trends from the side lanes