Forex Trading

Well you need to know what you are doing for a start
- Is my strategy profitable?
- Is my trading efficiency high?

It may take years before you get profitable, if you are seeking a strategy or guru, MAKE SURE that they are verified with results, not just talks

You're primary investment should be the amount that you're comfortably willing to say goodbye to should your trading go south (which is very easy for it to do). Every trader has his or her own personal budget that they work with. Maybe start with $100 and see where you can go from there.
What trading platform are you using?

Hi,
London breakout strategy is trading in London (UK) session, correct me if I'm wrong, but Forex is about currency exchang, many pairs have a chances for us to enter and profit.
Maybe I'm not qualified to say this but, I think your first step is using a Demo Account and learn about technical or fundamental strategy (try Babypips com), along the way when you have set your own strategy you can start by entering the market using your own capital. What my 10 years experienced said about Trading Forex is, the larger your capital the larger control on your trading and larger possibility to win trades (if you find your winning analysis strategy). But nothing is impossible.. I saw one person with only $300 can turn into $10k, and known many people doing Forex trading for life. I'm also still trade and still learning, trading is a lifetime skill set, its not going to be saturated. Trust me on this!

Anyone tried AI bot is it profitable ?

This is a profitable business.
However, you have to be careful.
Thanks

amazonprouk said:

Guys i started to trade in Forex recently. Can anyone help you to understand the London breakout strategy? or how much should be my primary investment for a new account?

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No you’ll die easly, sry to say
Without any knowing what price is, and jump into strategy thats all newb forex trader, there is a tip for you
1. Learn price action, REAL price action, is by understanding why and who behind the price is move, (if you search price action you’ll see hammer, double top etc, all bullshit if they only say this is reversal this is continuous blablabla)
2. You must know why you lose trade, if your system say ‘all system always have loss and profit’, thats all bullshit internet and gurus told you, you must KNOW WHY YOU LOSE, not by a chance
3. Forget about robot trading, no matter what it will not get you profit (ive tried thousand robot, and i make EA too a lot of them, even i make robot which can ‘cheat’ broker but its only works in 2011)
Robot / EA only filtering chance good trade
4. I suggest only 10% or even 1% of your wealth to start, try to understand first, dont blow your account for 1 year, mine only start about $100 but because i have 0 knowledge back in 2010 i blow many account

For about 8 years of trade of mine i conclude, all the success trader i know, have a core system and it’s price action, even they use different strategy, im not promoting any system, ive done era of trading in 2018, now im investing and build business which i like

edit : every broker is sucks, even regulated FCA NFA etc
Minimum profit 300% in a week, you’ll see there will be abnormal move in your account

Is it possible to buy where dollar is worth more then back to dollar that same day and make some money?

Start with a small amount as it will be used for learning purpose only.

OP last seen in Dec 2019..

There is no point replying to this thread.

LOL why the trend on bumping old thread, this i 1year old thread.

The rate of success in trading is below 1%, I've studied it for couple of years and took a bunch of courses and tried. You will have to study for at least 1 year, and when i say study, i mean study, think that you're competing for the same money with the Harvard, MIT, and smart guys with millions at their disposal,not mentioning the big banks, like BOA,Wells and so on. Youtube for Mike Bellafiore and SMB capital, just for you to have a look how their trading looks like. For you to take that money it's very hard, and i mean VERY HARD. So do your home work, study the sh*t out of it, then try a demo account, and them maybe, and i say maybe try to give it a shot. Otherwise just ask them where you can send you money directly, at least this way you will lose just your money, not your time and effort and nerves and brains and soul. Good luck

Random question, why do people trade forex over stocks ? It feels riskier :/
@James Jack

@yherrliche Because, theoretically you have a bigger leverage, a Forex company will give you leverage 100:1, meaning that with 100$ you can trade up to 10.000$, but if that goes south, and you don't know what you're doing you will get burnt bad, but just like in casinos everybody thinks that they had the lady fortune on their side, and very few of them have it, and that lady fortune it's actually called lady knowledge. Everybody in courses and on youtube make it look easy, just like you would watch a surgeon getting an appendix out, it would take him 15 minutes to do it, but what people that are selling courses and Forex and trading companies don't want you to know, are the years and years and years or study and practice that doctor had, before it could make it in 15 minutes, it's the same with traders. Nothing is that easy, only people who like to gamble think it is, but at the end of the day all the money that are making they have to come from somewhere, so some people enter to the forex or stock market with couple of hundreds, other thousands other hundred of thousands.

James Jack said:

a Forex company will give you leverage 100:1

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Alright I didn't see it in that light but it's true. Good point, so people see the "easy" money not knowing a leverage that high is just gambling. Thanks for the explanation, I appreciate it !

try to find content from the inner circle trader, ICT, he has a good extensive videos, about the London Open and the New York market Open, depending your Time Zone, you may see the New york open is more easy, I personally find the new york open easier, and less stressfull, trades can last usually just 1 hour, but there are some rules, etc about what day of the weeks the success rate is very high.

manolo12399 said:

try to find content from the inner circle trader, ICT, he has a good extensive videos, about the London Open and the New York market Open, depending your Time Zone, you may see the New york open is more easy, I personally find the new york open easier, and less stressfull, trades can last usually just 1 hour, but there are some rules, etc about what day of the weeks the success rate is very high.

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Glad to see someone here that knows ICT. I also like Offshore keys. They are pretty cool and easier to understand IMO.

if you just start trading forex you need at least 6 months of trainning analysing charts focusing on daily frame and weekly frame trading requires patience and testing strategies it is not about gambling your tactic must be slow like a tigger in the woods ! but first let me tell you one thing the internet is full of scammers there are numerous brokers looking for you to invest with them but at the end of the day you will lose your balance .. they claim that they have a good reputation and legit but unfortunately 90 percent of brokers are robbers this is why they say that 99 of traders fail .. my friend the world is full of shity critters ! so my advice to you if you really find yourself mad about forex is to knock on the right door .. here are the best ones 1 interactivebrokers.com 2 prorealtime.com 3 lmax.com 4 ninjatrader.com

some companies hire traders who can pass the challange so they evaluate potential traders on their trading talent, and then provide them with full funding.

such ftmo.com or oneuptrader.com .. that is all about trading for now !! enjoy your journey even it is not easy like you imagine . you need to work hard and be consistent in your trades along the way !