Forex anyone?

[justmeron]

I don't trade in forex but have a friend who trades futures and other things. He has told me several times to paper train. Meaning pretend you are using real money, there are even programs out for this. Don't use real money for at least 6 months. You loose like 80% of the time but the 20% you win more than covers the loss. Just don't wanna loose everything right up front and then be out of the game.

 

[jammie]

i paper traded for 2 years before i started making consistant profits, now i've been paper trading 4 years and although more than ready to trade live, have onlu just got my live/s account sorted.

but i know im gonna make a killing so its all ok =P

last month was 56 wins, 0 losses. Was a large drawn down though (40% at one point) but that was due to a mistake on my part. if i get even 1/5 of that i'll be happy!

 

[allyrob]

So jammie, care to share what trading style you are using, cause it was said the best traders have a 70% win ratio and you said you have 100% dude, that sounds impossible

 

[SunGoD3D]

With the upcoming U.S. Elections and with Obama winning with a significant margin [here's hoping] This will be a great trading opportunity for Forex Traders . Could there be a strong uptrend for the U.S. Dollar against the GBP, Euro??

 

[allyrob]

SunGoD3D Now thats a good point you have there, but i was more thinking of using usd/jpy

 

[SunGoD3D]

usd/jpy is a great pair as well but, from what I have observed this particular pair is not for the "weak of stomach". Very volatile and profitable pair if traded correctly

This particular presidential election is of great interest because it will serve as a compass on what to expect for 2009.

 

[allyrob]

SunGoD3D my stomach is week so i will stick to usd/jpy, sometime ago i use to trade gbp/usd, but realizing the volatile state of that currency pair, i switch to usd/jpy

 

[cokely]

jammie that sounds good why dont you go live?

 

[jim7907]

i paper traded for 2 years before i started making consistant profits, now i've been paper trading 4 years and although more than ready to trade live, have onlu just got my live/s account sorted.

but i know im gonna make a killing so its all ok =P

last month was 56 wins, 0 losses. Was a large drawn down though (40% at one point) but that was due to a mistake on my part. if i get even 1/5 of that i'll be happy!

You now ready to trade live ?? can you tell us...you trade what TIME FRAME ?

Thanks

 

[jammie]

15 min and 4 hour time frames. every currency (inc cross pairs).

anything shorter my method hasn't "caught up" so its wrong, and anything longer takes a week or so to get profits (bigger, but i can milk more smaller trades and know for sure im right).

and because practice makes perfect - I've been reading T&C's finding differences in demo trading etc, finding a broker that is right for me, tweaking my system & setting clear goals and objectives.

I know where im going and have a way to get there, its alot easier than just aiming for anything!

 

[jim7907]

what is T & C ??

 

[Sleek]

forex is so hard
you must be brave and have self confidence on every trade you do even if you read hundreds of books and strategies

the problem is trader always be patient on losing trade and fast closing a winning trade

 

[jammie]

i still suffer that problem >.<!

I always use a take profit, but hardly ever stop loss because every time i've used it, the position has been stopped out then hit my target. that really annoys me!

Secret is to start small. if you save up 10,000 and loose it all in a week, anyone would be gutted, but if you saved up 200 and if you loose it, its not that big of a deal.

always paper trade too! =]

 

[Sleek]

i still suffer that problem >.<!

I always use a take profit, but hardly ever stop loss because every time i've used it, the position has been stopped out then hit my target. that really annoys me!

Secret is to start small. if you save up 10,000 and loose it all in a week, anyone would be gutted, but if you saved up 200 and if you loose it, its not that big of a deal.

always paper trade too! =]

yes it's very annoying it always hit my target but I can't trust myself and get it out of the trade too soon

 

[jammie]

same, but i'd rather have say 30 pips than risk going for 50 and loosing them all!

i only need 80 pips a month though to pay all my bills & everything so thats just 6 winnering trades a month ish for me, and im happy.

Sleek, once you go live keep us updated on how you do =]

if you need a few more pips, i may let you in on my system ;]

Jamie

 

[kerozin24]

Well,well!
Its better and safer to go for a few pips than too go for a lot, If you are sure and confident in yourself, you can trade on 1:200 , or 1:400 lavarage, but remember with high risk you can lose more, or get more it`s only depends on you ,and if you know what you are doing!
You need to manage your money if you want to stay in business!

 

[small_town_boy]

I've toyed around with a demo account the last 2 months, I tried really hard because I wanted to make a living with Forex. I read a lot in forums and I tried at least 30 different strategies, expert advisors and templates.

Guess what? They all worked in the short run but not in long term. I won, won and then lost. At the end I gave up because it's hard to profit from Forex - almost impossible for a beginner. I went bankrupt with 8 demo accounts - luckily they were no real ones!

Try that: flip a coin - head is for buy, tail is for sell. Now you get what the Forex is all about because you can NOT predict the market at all! Just a bit luck and pointless prediction.

Yes you can. There are professionals who do that. You must be one heck of an analytic/statistician to get good with forex.

 

[CodiBot]

Hello there

I've been "playing" Forex for a while (EA coding, live account, managed account, alert site, and so on ...)

Real forex earners are not the one owning the best strategies but the one who have a real MM (money management). This is the most important part of your trader life.

I would suggest you to read the http://bigpicture.typepad.com/comments/files/turtlerules.pdf to see what I mean.

Cheers.

 

[mymanico]

As everybody I m very interresting about the forex.

I read a lot of "rich with Forex" ebooks....

And I think it's to difficult to learn all the system. It's a full time job if you want to make big profit.

And you need a lot of money... because some times you win... but many times you lose....

So I have make some research to find a group or a company that can trade for me...

And I found .. they seems very serious... they promise a lot of %... but just one problem my friends... you need big money to start !

50 000 $ for some companies.. more from other... pfffffff

So after many searches I found one that we can start with little capital..

Fist I put less than 5 000$ and after 16 day my profit was 450$ !

So I decied to put a little bit more... and this month it was a 1300$ profit...

not so bad ?!?!

what do you think ?

 

[djedje70]

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Enjoy !!!