Discussion in 'Making Money' started by savax, Mar 4, 2017.
I never tried forex, so Should I invest about $10k?
If yes How much is interest rate?
I would advice you to put it on a black.
As for the no joke game. 10$k is big money, try to invest 10$ first!
And hell yeah gambling is much better than forex unless you know what you are doing and in your case you don't know a thing
Unless you're a savvy trader and can afford to lose it no. 10k is a bit rich if you're just starting out. If I were you I'd get an account with something like think or swim and just do paper trading until you're comfortable and go from there.
Forex is not for the faint of heart. I have a friend who makes pretty well money off it because he loves investing, has great discipline and emotional control, attends seminar etc. I remember before he started he practiced on virtual money until he had a proven money making strategy which took hell of a long time. If youre gonna do it, go in with a great mindset. Good luck.
If you have 0 idea about forex, you shouldn't invest that ammount of money. However if you wanna invest some money maybe you can try etoro dot com, that web give you the chance of copy the traders strategy and see their profit, so you can choose the trader you want. I never used that web but to me its seems interesting the social trading experience. Maybe someone here use the web and can give you some advice about it
Start with 100 with an ecn broker with very low spread. Build up a strategy and make sure you can consistently increase your account over time.There is a difference being consistent and being lucky. When you are sure you got the handle of things, start investing more slowly. I dont like practice accounts with virtual money because trading with real money gives you a different experience.
I myself lost a lot of money on fx before i started to control my emotions and build my own strategy. It takes time to read the charts property. I wiped out countless accounts in the process. I just managed to cover my losses recently and taking things real slow with a long term plan. The lesson is, dont take the risk unless you are ready, and trust me, fx market is a battlefield .. you will be wounded .. many times.
No, unless you're willing to go long-term(possibly years). Otherwise, you're better off gambling
As you are new, no.
more people lose on the stock market than gain
That's why it's so lucrative for savy experianced traders/investors, they gain from all the new inexperienced investors
as @raven666 mentioned, you really are much much much better of putting it all on black (which is a silly gamble but less silly than competing with experienced traders)
This is a fucking joke? First, you need to practice, this isn't a game or something else, you need to understand any form of the candlestick chart and understand what that mean, understand why some price are strong (price action), you need to find your favorites indicators that you will use in the chart, you need to find in wich time frame you will work, you need learn a lot of things and even if you learn all that I tell you and more, even if you practice in demo accounts, you will do mistakes, hard and expensive mistakes that will be necessary for your learning.
Forex is good, very good but only for whos understand that you will lose money in the beginning and then if youre good after all that, you will make some profitable trades.
If you think that is a fucking video game, dude dont spend your money. 10k is a lot of money in any country.
I started trading Forex at the beginning of this year. I started with just £50, now I make at least £2347 per day "YES PER DAY" not monthly. Visit my blog and find out exactly how I do this. Or download my forex "moneyshitter" bot for just $859. $859 seems a little expensive hey? Not really, take a look at how much money I make "PER DAY, AT LEAST"!!!! Don't miss out.
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Stop being a hater, I'm just trying to help people in need of money.
Big NO if you never do it before
Yes, if your leverage will not be more than 1:1
one of my good friends was on the board of a certain association of forex traders. He was put there because he had the best ROI of any invester in the united states at the time... he initially put in like $100 and a few years later ended with a few hundered thousand.
HE NO LONGER TRADES ON THE FOREX.
Yes you can make a living doing it, but it either takes lottery-winning-level luck or obsessive studying of all markets and real-time world news.
Here is a good response to a similar question (taken from quora):
Forex is a really difficult business. To make money with forex, you have to know the technique and have enough experience or you lose more than what you make.
The good thing with forex is that you do not have to be worried about competition. Unlike all other businesses which competition makes tougher conditions for everybody, the more people work on forex the more money everybody will make because it will make more volatility and movements in the market and volatility and price fluctuation is what we make money through it.
So forex is a good business but is it a suitable business for everybody?
To become a forex trader you you have to learn it at first. It is not very hard to learn forex. There are enough free information over the internet. You just need to spend a few months to learn everything. But the more important part is the experience. You have to learn how to use your knowledge to trade.
You must have three things to become a good and successful forex trader:
3. Suitable mental and psychological condition
If you lose more than what you make in forex you do nt have at least one of the above essentials.
As explained above the knowledge can be gained easily and for free through the internet.
The experience can be gained through practicing with a demo account. Any of the forex brokers offer free demo accounts which enable you to practice and learn to use your knowledge practically.
But what about the last factor? Suitable mental and psychological condition!
How can you control your hastiness, Greed, Fear and Emotions in Forex trading?
This question can not be answered in a short form but here is some tips:
If you are a hasty person and this has made problems for you both in your life and forex you have to practice Yoga meditation or maybe hypnotism to become able to control your hastiness.
In case your hastiness can not be controlled at all you may have to see a doctor and check your endocrine hormones like Thyroid, Adrenaline and Noradrenalin.
To control your greed you have to make a strict discipline for yourself and try to be stuck to it. E.g. do not make more than a limited number of pips everyday or in each single trade. Tell yourself that you are not allowed to make more than – for example – 20 pips everyday or 5 pips in each trade and as soon as you reach the limit turn off your computer or close your trade even if the market is still hot and you can make more or your trade is doing well and going to your favorite direction.
To control your fear you have to spend enough time on learning and practicing with a demo account. You have fear because you do not have enough confidence about your trading skills. You have to make hundreds of trades on the demo account to make sure that you have learnt the methods completely. Then you need to start with the real account and trading with your money but with a small amount.
You have to keep on trading with a very small amount of money for several months and when you see that you can make profit and the number of your successful trades is more than your bad trades you can increase the amount of the money little by little.
Keep in your mind that forex and stock trading are all the matter of taking risk. The only thing that you have control on is the amount of the money you put in every trade and also the amount of the money that you let be lost. The rest is not in your hand.
– What do you think about yourself?
– Is forex a suitable business for you or not?
– What are your weak-points?
– Are you greedy or you have a lot of fear that do not let you trade properly?
– What is the reason of your fear? Is it because you think you have not learnt the techniques properly or it is because you have made a lot of bad trades and so you have lost your confidence?
Think about the above questions before you start trading and taking trades.
Do no longer hesitate and join us now! Here you can find everything Forex related!
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