Quote:
Originally Posted by MikeLim
Hello guys, my name is Mike hope to be a regular here  , does anyone have any suggestions on where to start on forex? I know babypips.com but does anyone know any good book that teach the basics?
And, a few questions to the reqular traders here if it's okay :P :
1) How profitable can forex be?
2) How much do you earn by trading forex? (I know it's confidential but to anyone who wants to answer it, thanks!)
Michael
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in real terms, after gaining the required experience to trade well, the sky is essentially the limit.
at this time, if youre truly new, you havent got a clue as to whats happening and you dont even know how little you know !
a year would be considered a pretty good learning period, but more is better because you NEED to learn wht the banks and brokers are THINKING, and where do they want to currency to go (you must face the fact that forex is a highly MANIPULATED market, but you can LEARN what theyre doing, and profit accordingly.
Please understand that forex is a whole new world, with its own culture, rules and regulations --- you can learn it as any other thing given you have the mind for it, but you wont win a thing if you just jump in and start swimming --- not unless youre the luckiest person in the world.
I will not discuss earnings, but they are well into the 6 figure amount per year and could be much higher if I had a "fire in the belly" that accompanies youth --- just at this point in my life, this is all i need to make !
oh yeah, im a united states incorporated financial holding company, presently handling retirement accounts and my methods of trading are mostly just trend followers, along with shorter day trading and "scalping".
good luck and see you in a year
mp