[Forex] Road to $1000/day

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brobobo said:
I used to gamble with binary options and cover losses with martingale, was fun and profited, but crashed it. I've learned a bit about trading forex, but no where near enough to ever want to go live.
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My system is setup to where I cant blow the account :) and some crazy stuff would half to happen for it to even make a big loss. Granted it is Forex. Love how you said gamble with BOs though lol xD

I did learn the hard way though, trade demo till you're profitable. Not comfortable -_-
 
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I have no idea how forex trading & trading in general works, but it looks like a nice journey and you seem very dedicated, so you will surely reach your goal :D
How long did it take you to fully understand trading? Subscribed the thread cause i wanna learn more about it !
Good luck!
 
Heiko said:
I have no idea how forex trading & trading in general works, but it looks like a nice journey and you seem very dedicated, so you will surely reach your goal :D
How long did it take you to fully understand trading? Subscribed the thread cause i wanna learn more about it !
Good luck!
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It's been a year and a half to get to where I am now, but I don't fully understand trading! I don't think anyone does. There's way to many different ways of trading Forex to understand it all :) if you ever get into it, just find what works for your strengths.
 
Are you gambling mate ? A lot of people mistake forex with poker.
 
creator09 said:
Are you gambling mate ? A lot of people mistake forex with poker.
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My first account a year ago, looking back at it I feel like I was gambling. And I'm not going to lie I blew a $2k account over a few months. But now I don't :) had a smooth 10%+ week!

I do gamble outside of Forex though, poker is a blast (not as good as my pro friends though) and blackjack can be fun. But I wager $100 for the night typically just for grins.
 
nice start to your trading.
lets see the myfxbook at 90 days.
 
So where does a guy find a true pro to teach him how do make money with trading, forex, and binary?
 
nickcruz said:
So where does a guy find a true pro to teach him how do make money with trading, forex, and binary?
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1) binary is a scam

2) spot forex is incredibly difficult, bu not because trading itself is difficult. Its tough because all manner of vendors try to sell EAs and robots and systems and education based on "red dot/blue dot" and similar mechanical things and "technical indicators" while looking at a chart (or having a bot do it for you). Thats all great but it amounts to random gambling, not trading,. because using historical prices to predict future prices is like trying to drive by looking in the rear view mirror. Its useless. you spend your money and spin your wheels, and whats worse waste your time while slowly draining your account, only to realize years later you have been throwing darts at a dart board. Been there. Dont suggest it.

3) even so-called "gurus" 99.99 % of the time dont have any idea what they are talking about. For ONE trader who does, Google Jarratt Davis. Also might want to check out forexfusion.com
 
Good luck on your venture. Not sure if someone has addressed this, but to be listed as a signal provider, you need to have at least 3 months of trading history on a live account. You might have some success in attracting a few newbie investors but don't expect much. To be able to make a decent living off the subscription fee you need to have at least 1 solid year of live trading stats in your wallet.

You hit a 20% draw down in such a short time which is a worrying sign. Instead of focusing on 60% returns, put in some money management and aim for a consistent 1 - 2% per month or so. You might not attract the flash in the pan investors but you will get some heavy hitters who understand the importance of consistency.

Remember the trick is to stay on top every day, one small slip and you could have your months of hard work flushed away in a single trade.
 
odysseus11 said:
1) binary is a scam

2) spot forex is incredibly difficult, bu not because trading itself is difficult. Its tough because all manner of vendors try to sell EAs and robots and systems and education based on "red dot/blue dot" and similar mechanical things and "technical indicators" while looking at a chart (or having a bot do it for you). Thats all great but it amounts to random gambling, not trading,. because using historical prices to predict future prices is like trying to drive by looking in the rear view mirror. Its useless. you spend your money and spin your wheels, and whats worse waste your time while slowly draining your account, only to realize years later you have been throwing darts at a dart board. Been there. Dont suggest it.

3) even so-called "gurus" 99.99 % of the time dont have any idea what they are talking about. For ONE trader who does, Google Jarratt Davis. Also might want to check out forexfusion.com
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Hey thanks. I checked those out. Do you know how much Jarrat Davis is charging for his training, its not on his site so I'm assuming it must super expensive lol? the forex fusion is like 8k for their top product. I couldn't spend that much.

Do any of those robots or those signal services, copy the pros, ever work or is all that just a scam too? I basically assume they are mostly scams, but surely there's gotta be one that's legit and not loosing guys money?
 
DFWi Reaper said:
Here's what I send to those looking to learn more

Hello!

If you're looking to learn forex:
The best and #1 place to get started is http://www.BabyPips.com
Sounds like a weird name but they have a course that is all the way through "college" and includes the widest variety of lessons/strategies when it comes to forex. Best part? It's FREE 100% FREE. Now it doesn't go into great details on how to trade per say, but it will give you a good idea on how things work.

I personally trade Harmonic Patterns + Technical analysis when manual trading. A good place for that is http://www.formationseeker.com, it's a bit expensive though to sign up. So make sure you've studied free videos/sites on harmonic patterns. It's free to use, but without notifications. And you can get free seminars on Monday!

Let me know if you have any further questions on what to study!
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No it's not...

Thread shut. Journey disguised as a sales thread.

Not cool.
 
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