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Anyone interested in Forex trading?

Discussion in 'Making Money' started by premiumsource, Jul 21, 2011.

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  1. premiumsource

    premiumsource Senior Member

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    I have been trading for a living for over a year now and am wondering if there are some people interested in learning how to trade. I have a very profitable strategy that implements sound fundamentals and good risk to reward ratio and am thinking about writing a book on the system. I'd probably charge around $500 for the strategy and would provide support as well. If there is enough interest I'd open a thread in for sale section. Thanks.

    PremiumSource
     
  2. SEO20

    SEO20 Elite Member

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    Great man - what platform do you use trading?
     
  3. Nuz25

    Nuz25 Junior Member

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    Would the training be for complete beginners or for already advanced people?
     
  4. skripel

    skripel BANNED BANNED

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    emmm, can you explain a little more? like how much would you need to invest and how much is it posslible to make or lose (the average profit or loss you have experienced).
     
  5. thepelican

    thepelican Newbie

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    Anyone interested in bitcoin arbitrary trading? Fun stuff
     
  6. premiumsource

    premiumsource Senior Member

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    Oanda to take trades on. MT4 to display my indicator and tools.


    Both are welcome.


    You can start as low as a few hundred bucks, however $1,000 or more is recommended. Average profit and loss largely depend on your understanding of the system. Even though it is simple to understand since my indicators make it easy for you, it still has to be executed properly. It also depends on what session you are trading (US, Europe, Asian).

     
  7. SEO20

    SEO20 Elite Member

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    I would love to know a lot more about this. Played with it years ago and nothing is safe but there are different methods.
     
  8. blanko

    blanko Power Member

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    Sign me up!
     
  9. premiumsource

    premiumsource Senior Member

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    I don't know what you mean by safe, however just like any business there is risk and our goal is to minimize it. Also, there are costs of doing business(losses), but that is just a part of Forex or any business for that matter. Anyone that tells you that there's a strategy/method that can guarantee a hit rate of 100% or even close to it, is lying horribly. It is critical to have a system with a significant edge, proper money management and solid risk to reward ratio. That is the only way to minimize risk and be profitable.



     
  10. sirgold

    sirgold Supreme Member

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    I've been willing to learn about it for quite a while now, but never really found anybody reputable enough to trust on teaching me the inside outs of forex. I'll be more than willing to give it a shot if the opportunity presents itself in some appealing way. Feel free to let me know. Regards.
     
  11. NoirHat

    NoirHat Regular Member

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  12. premiumsource

    premiumsource Senior Member

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  13. MikeHustle

    MikeHustle Power Member

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    How much are you earning per year with forex?
     
  14. premiumsource

    premiumsource Senior Member

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    A lot more than I've ever made doing IM. I am trading 10 standard lots per trade meaning that each PIP is equal to $100. Today I only entered 1 trade, I've risked 30 pips to make 150 pips. The trade went in my favor and have made $15,000 with 1 trade. Of course not every trade or day is profitable, however with good R:R my strategy is very profitable overall.

    Size of your lots depend on your account size, broker leverage and your money management. 1 PIP can equal to 10 cents, $1, $10, $100, etc.

    I've started trading mini lots over a year ago and have been increasing my lot size ever since. I think that I've reached my comfort level (10 lots per trade) for now and won't be increasing it any time soon. I know of a person that trades 50 lots per trade on a regular basis. That is $500 a PIP! You need to have a huge account and most importantly balls of steel to trade that size.




     
    Last edited: Jul 22, 2011
  15. boussena

    boussena Junior Member

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    mainly i hate manual trading, you will need very cold neurons or will end with broken computer :p
    instead i use automated systems
    to op, oanda have mt4 platform for a while, why not use it? or spread is higher in mt4?
     
  16. premiumsource

    premiumsource Senior Member

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    I am just used to it since I've been doing it that way for quite some time. I just use Oanda to fire off trades and to manage them. Nothing wrong with using it through MT4, even though I've never tried trading live on MT4.



     
  17. JTOhara

    JTOhara Newbie

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    Care to share how many pips you gain per month?
     
  18. premiumsource

    premiumsource Senior Member

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    It varies from month to month. Pips per month doesn't really paint the picture properly. Most of the commercial systems and EA's appear to be making 1000s of pips per month, but what they don't show is the drawdown their account goes through every month. Only amateurs trade that way since in the long run they will lose a lot more money than they will make and they will most likely blow up a couple of accounts along the way.

     
  19. solar2010

    solar2010 BANNED BANNED

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    May i ask on what TF you trading most of the time ?
     
  20. premiumsource

    premiumsource Senior Member

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    Trades are usually taken from the 1H, 30M and 15M chart.

     
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