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Success Story of a Part Time Forex Trader

October 16, 2007 (Last updated on December 2, 2009) by

A new Forex article was added to my collection today. Hearing another success story of the Forex trader might as old to some people, as motivating to others. I think this one will be at least useful to many Forex traders. Experienced and professional Forex traders can say that part time Forex trading can’t be good and that it will always lack the “full market control and awareness”. Yes, I’d agree with them to some extent, but still, part time trading remains the only option to many Forex beginners (and not only beginners, just not professionals). So, here it is:

How I became a successful part time trader — by Joe Chalhoub

16 Responses to “Success Story of a Part Time Forex Trader”

  1. Jmus

    It was a good read, thank you, would you care to exchange links with me ? I’ve recently posted some stuff about forex at my blog, could you care to give it a look ? Thanks

    http://gold-speculator.blogspot.com/

    Reply

  2. BS

    This site is just another BULLSHIT scam…. What a lame article!!!

    Reply

  3. Andrei

    BS,

    Bad day at work?

    Reply

  4. Abtin

    It was true and useful and there are so many more we have to learn to succeed!

    Reply

  5. shem

    ???? Sounds like the regirgitated babble of a FX loser. BS is spot on.

    Reply

  6. jaguarxj1

    BS,100% agree,peace of shi*

    Reply

  7. HJ Abu.H

    I dont know how to achived in consistent wining but i know to start just basic forex , some time succes but someday ara not good to trade,

    In forex no matter how technical you are using or strategies, some how some what happen is in the end lossing so much instead to try grow a profit in forex buisnes…just in 6 month ,

    This mean still have very difficult to get real fortune, i ve never seen people in this world got very rich in forex, was this true?

    Reply

    Tech Reply:

    Getting ready to start my second account. First one bombed. You have to be extremly carefull on trading and the biggest thing is to know when not to trade. I always trade short term “less then one day” now and always trade on the trend of the particular market for the week. That way at least I usually brake even. In one week on a 50k practice Ive gotten it up to 60k. Thats using no stops and watching it all day long. You have too know when to wait and when to cut. Its a very difficult market but I get the feeling Im getting it down. 10k a week is a good salary too me. Hope I can keep it up when its for real. Be watching for my name in the news. Or not. We shall see Muhahahaha.

    Reply

    Rich Reply:

    Tech…you say trading with no stops?? There’s no wonder your first account bombed :?
    Protect your account at all costs!
    There is no fun in not being able to visit the toilet, the kitchen or just enjoy life as a result of HAVING to watch your charts?

    Reply

  8. Tech

    Been watching my stops. I have started putting them in around 50 pips stop loss from my current position. The bigger thing is I will not be able to fund a 50k account. Im going to use the practice for a few months first. And the margin is what gets you on smaller accounts. My first account actualy bombed because I put a autmatic buy in the wrong place and was sleeping when it bought. I didnt understand the software well enough and it was a complete accident. Pratice make almost perfect I say. I was up in my first account 250% from my starting balance within one month. Just that one mistake killed me. Im definitly not throwing money away I can loose ethier though. Good luck all.

    Reply

  9. Advise

    Someone I know started trading but lost it all, then he tried to train on demo accounts, he trained to get his initial “deposit” x5 and did this 3 times a row…
    Sounds pretty hard and it takes a lot of time, but he learned so much,
    now he’s pretty profitable :)

    Reply

    admin Reply:

    Getting 500% on the initial deposit is quite a success!

    Reply

  10. 3yrfxbgnr

    in my 3rd year trading part time, lost just over $2k the first year, showed a $3k profit the second year and about even for 2011. i have just over $65k on the line on a daily basis. i have long term positions that i have held and keep adding to in the AUD/JPY and CAD/JPY since 2009 and 2010. my goal is to amass as many positions in the AUD, CAD and NZD versus the JPY as i can afford at an avg<83 and hold till they reach 105.
    i've been margined out, holding my nuts, praying and crying all at the same time and then laughing in hysteria as a $12k gain spikes the day!
    forex-heroin for gambling addicts!
    good luck all!

    Reply

    admin Reply:

    It’s a nice patience you have, sir!

    Reply

  11. James

    Thanks for the link, I would never have thought that there was forex trading going on in Beruit!

    Reply

  12. FANN Addict

    It’s for sure possible to be profitable in the forex market! Just be aware patterns and trading habits change very, very regulary, so be prepared to adapt your strategy to this. I personally used FANN (library to implement your own trained neural network to recognize any patterns you want to recognize it) and expanded it to be used in flexible neural network tree(s). I train (automatically) a complete new one every two weeks so my network is up-to-date with the market and the new trading habits. I’ve also programmed my own risk management to limit my exposure on a trade level but also on a balance level. And lots of other cool stuff. I do trade with the profits. This year (2012) I started a new account of 500€ which reached 680000€ at the end of march (less then 3 months!!). Due to maxed out lotsize of 99 the equity curve is no longer parabolic up but has straighten out, but still going up. I’m currently programming all of this into a shippable product and want to sell it to everyone. I do this to fight the 1 percent by draining their banks (a bit) with lots and lots of people and… to become even richer from all the commissions… of course ;) Good luck to you all finding your strategy! There’s more than one way to do it! Failures lead to succes (Edison), just don’t give up, it took me 4+ years now to get it at this level. Enough for now, hope to make you all rich next year!!

    Reply

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