mehdi tavangar
BANNED
- Feb 2, 2020
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you will loose money soon , don't worry
From $1 to Million - Forex Journey
- Thread starter OnlineA
- Start date
- Sep 7, 2012
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Did you even read my first post?
- Feb 4, 2020
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over this 10years of experience have you made million through forex...if yes then it can be done or else you will end of being broke like me 
...it was a nightmare for me
...it was a nightmare for me
- Sep 7, 2012
- 655
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over this 10years of experience have you made million through forex...if yes then it can be done or else you will end of being broke like me
Most people fail in forex...but then again most people would fail in any business, the only difference is that its easy to enter the forex market, so while 99% of all people would never start a business, because of all the hassles, work and stress involved, they enter forex, because it takes about 5 minutes. But the fail rate is probably the same as for any other business.
The problem in forex, newbies think there is some shortcut, but its just hard work as anything else...I started more business in my life and I worked my ass off in each of them, when I was in the building phase(6 months to 2 years), 10-15 or even more hours per day, 7 days a week, 365 days a year. And the same applies to forex, there is no shortcut, no holy grail, no secret strategy, no secret indicator, just hard work, pure and simple.
And forget about mentors and teachers, too. They teach, because they cannot trade. There is not one single mentor, who is a good trader, unless he is retired and teaches out of boredom.
Last edited:
kweiss
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- Feb 3, 2016
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Willyfish
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- Dec 6, 2019
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Forex made me crazy the last 2 years, I tried to trade pennants intraday with a 2.5R strategy and oh man I became crazy with it... One thing you speak about was the strengh and weakness of a pair... but depending on the time frame, it can be total opposite, how do you deal with it, how do you qualify this from your experience?
kweiss
Power Member
- Feb 3, 2016
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over this 10years of experience have you made million through forex...if yes then it can be done or else you will end of being broke like me
It took me 4-5 years of losses to realize what I was missing and that is :
1. There is no short cut in trading
2. Indicators and techniques people are selling are usually BS
3. I needed to find my EDGE
It took me so long to realize this but now I consider those days of losses my tuition fee. Finding my EDGE really turned things around for me.
So, your failure is only your own experience. And yes, my losing days were a nightmare for me too. But I got out of it and you can too!
- Sep 7, 2012
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Its too complex to answer. But the smaller the time frame(minimum I would use is the hourly chart), the smaller the target. You can't look at strength or weakness on a H1 chart and target 500 pips. And now, due to corona and other bullshit, its not good to hold any trade for more than 1-3 days, anyway. Ideally just hours...get in, get out, done. The ranges are too tight atm, price doesn't move in large trends.
- Feb 4, 2020
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we shouldn't compare a business with forex trading coz in forex there is no edge, so failure rate is quite high than any other business. I had learned so many things while being in the forex market. it taught me many life lessons and show me the right way of investment.
when it comes to some other business or startup there is always 50% chance to survive, if you can give it the right direction at the right time.
but for being a successful forex trader it requires the sheer force of will power, high mental pain endurance, and one more thing "anything can happen in the market" mindset.
I hope we'll enjoy your journey..
good luck(anything can happen
)
- Feb 4, 2020
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Long story short- "anything can happen in the market so we should be prepared"
Willyfish
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Yep makes sense, I fixed myself at the 30 min-1h chart. How much is your risk to reward combine with your win rate for the moment
?
- Sep 7, 2012
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Its the opposite actually, its one of the few businesses that make sense. The currency strength and weakness is not random. We are not talking about crypto, where it doesn't matter if the value is $1 or $1 billion, it doesn't mean anything. But a currency represents an economy, it has influence on the country in many ways, so those moves are far from random. Everything happens for a reason in this business.
- Sep 7, 2012
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Yep makes sense, I fixed myself at the 30 min-1h chart. How much is your risk to reward combine with your win rate for the moment
I mostly target 20-50 pips and always try to enter at places, where even if I am wrong, I know I will be able to get rid of the trade with a small loss within a few days in the worst case. And I mostly trade in the direction I think its heading in the coming weeks or months, so I might expect a 500 pip move in a certain direction(based on fundamentals and cot reports), and I take 10-50 pip trades in that direction. Everytime I am about to open a trade, I think what would happen if I lost internet connection for a day or two(not likely, but still), if I want to trade in a direction, which might give 50 pips, or in a direction which might give 500 pips. I feel more comfortable that way. People tend to overtrade and try to catch every move, long and short, that never works longterm.
mehdi tavangar
BANNED
- Feb 2, 2020
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Why you think will be in 5% of people will get profit?
If you turn 1 usd to million why banks dont turn 1 billion to 1000 billion ?
kweiss
Power Member
- Feb 3, 2016
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If you fail to prepare, prepare to fail, is what they say
Because the market is like a pot and the availability of funds in it are limited after a certain limit. But nonetheless this is what big banks do and especially institutes like Black Rock
mehdi tavangar
BANNED
- Feb 2, 2020
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You wrong.because need persons to lost money and get those persons stop loss ..friend i tried many many strategy you think at last get 1 thing .big boy if want get profit force you loss money
Willyfish
Inappropriate behavior toward members + Rule 3.5
- Dec 6, 2019
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It's actually wrong for the stop loss hunting, a big myth, retail traders represent 5% of the market... banks are playing with other big boys like hedge funds and financial institutions and retail traders are trying to win against them, but with million dollar trading algorithmic tool that they create, I really doubt that more than 1% of retail traders win money in the long term. Actually, starting a legitimate business is less risky statisticaly than trading
insightstudio
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- Jan 17, 2018
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Grabbing my pop-corns!
tinkti07
Junior Member
- Jan 15, 2016
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Following this one! Just started learning forex and currently blew up 50k on demo account lol. I am still learning tho. Will not jump to the market with hot cash until i 1000% sure with my strategy. A question for OP:
You are not a reversal trader it seems and more likely a trend trader. How do you decide if a trend will countinue and parameters do you consider to support your calculation before making the entry?
Good luck with your journey Op
You are not a reversal trader it seems and more likely a trend trader. How do you decide if a trend will countinue and parameters do you consider to support your calculation before making the entry?
Good luck with your journey Op