No more im for me - all forex

[swarupreddy]

Forex needs a good amount of investment..And when properly planned ads a good amount of income regularly.Now it can be considered a hot bussiness these days.

 

[mightybh]

90-95% of people lose money in forex or make no money.

90-95% of people lose money in IM or make no money.

90-95% of people lose money in MLM or make no money.

Sounds like the pot calling the kettle calling the pan black.

Add poker players too.

The most important part is that they don't think they will lose money when they start. Just like half the people in this thread who consider forex. Everyone thinks they will win, 95% won't.

 

[EvilPlankton]

Forex is such a pain for US-based folks now. Capped leverage, no scalping, no hedging, etc.

I've done it and made decent money with EAs, but it seemed to me it was only a matter of time before a couple poorly-timed hedges moved against you and *bam* margin call.

You can lose your money much faster with forex than you can with IM, so do both and diversify.

 

[theforceof1]

You have to be risk adverse, or have a lot of excess investment income to get started so that you are quickly playing with house money.

 

[thedon23]

Like some others said, just like internet marketing, many fail, few succeed. But that doesn't mean you should avoid it. If you want to go after big money, there is generally always a risk.

I've been looking to read up on Forex lately. Probably gonna get started tonight and get a demo account set up soon. How long did you practice on a demo account before actually investing? How much of an investment did you start off with?

 

[NoirHat]

screw demo account...does NOT deal with Fear and Greed.
throw $20 in Oanda and trade tiny amounts

 

[mhatter]

Everyone should paper trade for ~6months starting out.

 

[Subject]

I am using a profitable strategy that gives me around 95% profitable trades.
If anyone interested to trade with my setups, PM me and will give you free setups when I trade. I am thinking about combined trading. You also need yahoo or msn messenger. I dont have skype. btw, I trade eurusd mostly, gbpusd rarely. So you must have patience..

 

[Maxell]

Forex is great if you first learn like he OP said, spend a lot of time in demo, I was not patient enough and burnt $1K and since then never went back to Forex margins are BIG if the investment is BIG this is how I see forex, in IM I made $44K in one day with only investment in domains that day which may be around $100, so for me IM still rocks.. I spend 2-3 good days in a month to make around $20K, for me its perfect..

 

[gigabeam13]

I've learned alot in both stocks and forex, I remember a morning when i made a play, and cashed out $600 ahead after grabbing coffee down the hall. There's something about bouncing up in 5 mins that's just cool to me. Then real life gf's take it all

 

[trooper]

Like some others said, just like internet marketing, many fail, few succeed. But that doesn't mean you should avoid it. If you want to go after big money, there is generally always a risk.

I've been looking to read up on Forex lately. Probably gonna get started tonight and get a demo account set up soon. How long did you practice on a demo account before actually investing? How much of an investment did you start off with?

i practiced for about 4 months in demo while reading everything I could find. I had crazy success the last 5 or 6 weeks of that, so I decided to try a live account. I only put $100 in my live account just so I could get the feel for really trading live without any emotional attachments to the money. Look for your setups you had success with in demo and try them with small lots.

Cut off your losers. Don't let them run, #1 noob mistake.

Have a plan. If you don't have an entry and exit point planned yet, don't take the trade.

I practiced in demo with small account amounts so I would learn proper money management for my initial live account. It's too easy to "play big" with 50K in demo money. When you have a small account you can only take small positions. Learn the power(leverage) and limits(free margin) of your account balance.

Everyone will make mistakes after going live, so better to make noob mistakes with a very small account.

Good pdf to read
Secrets of Successful Traders
http://www.equis.com/marketing/emailimages/ebook.pdf

Lastly, trade what you see, not what you feel. irate:

 

[MrE]

I buy gold/silver @ 5x leverage on any big pullbacks on eToro and that has been working very well for me so far. For me the key has been low leverage and lots of patience, it is more of a long term approach.

Also, I have a lineup of 10 solid traders with high win% using the copytrader app, and they have all been doing excellent as well. I assigned them all a nice chunk of change and they hustle for me even though I don't understand Forex.

Look into copytrader and play around with that if you want to piggyback.

 

[Starcodes]

i found this strategy below on the web can you expert out there please comment and shine some light if this is even possible? thanks

How To Make $$$Billion Dollars$$$ in a Week Trading YEN

I found this nice example and would like to share it with you.
Here is how it works.

First of all, keep on Smiling because in one week you are going to become a billionaire.

1. Borrow $100 even if it is with online payday loans and open a foreign exchange account.

2. On Monday at 8:01am buy 8718 Japanese Yen. At 8:14am sell 8728, give 4 to your friendly broker, leaving 6 profit. Your broker allows you to leverage the transaction 58 times by lending you A$5,700.Your net profit is therefore 348 Yen or 3.5%.

3. In the next fifteen minutes,with equity of A$103.48, sell at 8730 and buy at 8712, grossing 18 pips (14 after deduction of brokerage spread). Your equity is now A$111.88

4. Repeat this process every 15minutes, selling high and buying low until close of business on Saturday morning. Your average profit per transaction is 3.3%, yielding a final balance of $A 1,087,061,600.

Repay the $100. Good luck shopping.

 

[trooper]

hope you traders sold some Euros today. I got another 30% return from it.

 

[Subject]

I did not got any setups today, so did not traded..
I only trade eurusd..

 

[Roparadise]

hope you traders sold some Euros today. I got another 30% return from it.

Are you getting the high return because your leveraging it?

 

[alexking]

How much are you making on a daily basis on average?

 

[akany]

I've switched from IM to Forex too. Made about $15k within a couple of days, a week later I was down $10k and back in IM. Forex is a bitch, and I guess there very few people who can really make a reliable income from it.

 

[akany]

I am using a profitable strategy that gives me around 95% profitable trades.
If anyone interested to trade with my setups, PM me and will give you free setups when I trade. I am thinking about combined trading. You also need yahoo or msn messenger. I dont have skype. btw, I trade eurusd mostly, gbpusd rarely. So you must have patience..

95% You must be a billionaire then! irate:

 

[mootonandy]

hope you traders sold some Euros today. I got another 30% return from it.

I did - I got 30 pips out of it.