Making Money As A Forex Trader

[DrJekyll]

when you are leveraging you do need a bit of an account or you can stop loss yourself out of some big gains, just by the volatile swing of the market.

My last post was a bit of a jest but I do have interest in trading and an extreme interest in EA's

 

[fxzombie]

It actually have been pounds, you may be right. It was Yen and either Pounds or Euros.

The thing about the more volatile currencies though, is they're also more expensive to trade (spread is larger).
Also, when working in percentages, all that matters very little
I prefer to trade consistent currencies (my favourite is Eur/Usd), or currencies that have very obvious fundamental/economic reasons to be going in a certain direction.

 

[fxzombie]

when you are leveraging you do need a bit of an account or you can stop loss yourself out of some big gains, just by the volatile swing of the market.

My last post was a bit of a jest but I do have interest in trading and an extreme interest in EA's

I think that you will enjoy the method that I will be posting soon. Has a whole bunch of relevance to both those things!

 

[cows420]

hahahaha

 

[Savant]

Looking forward to seeing and doing the method myself. Might do this when i get big-time.

 

[stgermain]

I usually take trades and risk 1% of my account

Do you mean you only use 1% of your account then?? E.g. you're account has $1000 and you use only $10?

I'm still looking for a good strategy

 

[fxzombie]

Do you mean you only use 1% of your account then?? E.g. you're account has $1000 and you use only $10?

I'm still looking for a good strategy

It means that the biggest loss I allow with each trade, is 1% of my account.

 

[Taccc]

If you setup your live graphs correctly and you make cut off limits both on the high and low end, it's almost automated if that makes sense.

 

[joinblackhats]

I understand that the indicators are quite behind time. But how do you identify the trend by sticks? Would you mind telling us more? Thanks

 

[PainFly]

I'm forex trader for 2 years now.
Best thing is to draw trendlines and know all possible setups.
Trendline is easy to draw and you get it if you draw line where price bounces of multiple times. If price breaks line it starts forming new trend and so on...

You find lots of free learning online, it's my first post so I can't add links to some sites. I also have my broker picked with agent so I get returned like 40% of spread (money taken by broker) back to me. If you want PM me and I'll give you contact.

 

[cooldude2020]

Hi OP,
Thanks for starting this is discussion and i am looking forward to your method!
You can always post the link with modifications(eg: hxxp://www.blackhatworld.com)
We can copy-paste, edit it and view the links..

 

[PainFly]

Best free site for forex learning is babypips check school section, best forum is forexfactory. Just copy babypips and forexfactory in google and it 1st.

From my prev post:
trendlines: babypips > school > trend lines
setups: babypips > school > important chart patterns
add to this good money managment and your account will get a little bigger every day

 

[KraftyKyle]

Welcome to the forum and nice share man! I haven't especially looked into trading, but I may have to try. Great post!

 

[fred7]

Last october I jumped in the Silver wave with $300 at eToro. I build it up too $1000 in 7 weeks and lost it all in the first major downhill (at least for silver).

Another thing: Forex and emotions, never a good combination but still, if you have an active trade and keep your eyes open there's money to be made out there. I will try again when I have more time for this.

Use stop loss dude. Set your profit target and how many loss you can afford before you trade. many traders set profit/loss ratio to 3:1.
If you follow that rule, let's say you trade 10 times. You lose 7 times and win 3 times. In the end: you still earn 2 point.

Learn about money management.. It's the most essential if you want to trade financial instruments

 

[CallMeJohnDoe]

Yes it definitely is. However, you don't have to pay for forex education. I learned 50% from reading stuff and watching videos. And 50% from participating in forex chatrooms and talking to the right people.
If anyone is serious about it, I'd be more than happy to help out. I owe so much to the people who patiently helped me when I started out, and can only think to pay it forward

I would seriously like to become a trader and learn more about trading. Could u pm me since i can't?

 

[Starcodes]

Best free site for forex learning is babypips check school section, best forum is forexfactory. Just copy babypips and forexfactory in google and it 1st.

From my prev post:
trendlines: babypips > school > trend lines
setups: babypips > school > important chart patterns
add to this good money managment and your account will get a little bigger every day

so what is the best automated forex bot out there to use? i am trying to become a forex billionaire i have some secret Formulas i want to put to test



thanks in advance

 

[ubsmax]

Learn about money management.. It's the most essential if you want to trade financial instruments

This is applicable in every type of money in everyones life.
Poor people is not poor or rich people some time lack of money....
Because basically they don't have a knowledge how to
manage money what they earn!!


.

 

[andy2009]

Very interesting thread! Can someone recommend a good place to set up an account for trading?

 

[tonegawa]

Very interesting thread! Can someone recommend a good place to set up an account for trading?

I use Alpari UK. It's very good.

Oanda has the best spreads but it doesn't allow hedging

 

[andy2009]

Thanks, I'll check them out What is hedging btw?