Can I make a living trading forex?

#2
A lot of good answers here, I give my 2 cents.

I have met many full time traders during my career, seen their accounts and even traded with them. My short answer is: yes, you can!

Let’s say that you are already a good trader and you are able to make 500 pips a month. So the first question is: do you have the starting capital to make a living trading the Forex market? If you have $1000 and you are trading micro-lots, you will get $50 per month (I’m taking a currency pair like EUR/USD in this example). So can you make a living by trading Forex? Of course not.
How much do you need? It depends on you, the starting capital to become a full time trader is different for everyone. But, if you don’t have enough money to invest, it is better to start like other top traders did, as part time traders to earn an extra income. If you try to reach the amount you desire, just increasing your positions and your risks, it is likely that you will lose all your money.

You need to focus on building your own Forex strategy that allows you to make money consistently each month, don’t focus on making a lot of money really fast, because it will come with time.
So my suggestion is to start as a part time trader, become the best part time trader of all time! When you will feel confident and will have the capital to make a living only trading the Forex market, then become a full time trader.
 
#3
Of course. I have personally done so and so have many others. I was fortunate enough to be able to semi retire and pursue other more leisurely pursuits. The key for me was to learn the market inside and out.

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