Making Money As A Forex Trader
- Thread starter fxzombie
- Start date
canibizzle
Newbie
- Mar 24, 2014
- 14
- 1
I'm not really into the whole forex trading thing. I think the last thread on the subject went bad.
HelenStclair
Newbie
- Aug 1, 2014
- 4
- 0
Correct,Making money as FOREX trader is difficult but not impossible.In trading you are focused with all new techniques which helps you to be best in trading..
- Jan 20, 2013
- 3,354
- 550
The webinar suggestion would be very useful for ppl in this trade. I too agree that this advice from you may be of great help to some. But, there are many pros who follow their own instincts and are the masters in the trade. I guess there is no hard and fast rule to be followed in kind of trade...although you may differ from me....
haorancanada
BANNED
- Jun 20, 2014
- 113
- 34
My mother is a day trader, shes got 400k USD in the bank trading with CAD back n forth, and since she had been doing this for a very long time, our family can tell how the market was by her actions daily, for example a month ago when USD: CAD was 1:1.12 she was so happy, and the second day she was sad we knew immediately that it went down to 1： 1.04
runronniedotorg
Newbie
- Aug 24, 2014
- 3
- 0
Hey everyone, I just want to tip my hat to the BHW community, and say that you are all awesome! This place kicks a$$.
I've noticed a bunch of forex threads popping up lately and would like to make my contribution, as there's so little info about it here (especially accurate info).
So, let's get started! Time for you all to learn a bit more about it, because it has the ability to make you billions (yes, billions) and the inability to get saturated, unlike most methods you find on here.
First off, as a day trader, you have to start thinking in percentages. Whatever your account may be, you have to be making/losing predetermined percentages. If you don't follow your own, strict, personal guidelines, you will lose. A lot of the pros are known to say that trading is 70% psychology, and only 30% actually knowing what's happening in the market. IT'S SO TRUE. It's the same situation when people troll through threads on here, and never finish/start/get satisfaction from a method. I'm going to have to go ahead and say that becoming an internet marketer is ONLY 30% METHOD and 70% PSYCHOLOGY. Some of you may disagree, but I believe it.
Anyway.. back to forex. What I've been trying to say with this, is people will try and test different strategies endlessly until their accounts get crushed. Learn to make decisions, stick to them, and don't stop until you've succeeded. ALWAYS keep your head on straight, because you are going to lose. You just have to follow through with your methods.
I made these mistakes for months and months. Those were hard times my friends. But now I can average about 1-3% (of my overall account) every trading day. This can be scaled up endlessly! If you work your a$$ off until you've saved up 1mill, you can be making 10-30k every day! And this compounds, so it'll be 1-3% gains of your current balance, which constantly grows!
So, for all of you who are interested in getting started, make sure you start with a demo account (all brokers have it). You can trade with virtual money, and get a feel for what you're doing. There's sooooooo much to say.. but find a good, cheap broker (read their fine print!!). And make sure they are either ECN or have a good reputation.
You then want to look for strategies, try and avoid strategies that use all the fancy chart colours/lines and indicators.. Learn to understand what the market is saying, because it's ALL in the charts right in front of you.
Look up Sam Seiden on google. He has free webinars and this guy knows what he's talking about.
Once I'm able to post links, I will post a reaaaallly good strategy for everyone here. But until then, ask me any questions you may have, and make good use of me as I raise my post count!
There's soo much more to know here.. I've barely said anything at all!
Just feel free to ask
Cheers everyone! And may the cash money gods be good to you
do you know anyone that is good at trading forex. been trying to find someone.
ashj1893
Regular Member
- Nov 5, 2011
- 212
- 120
I don't trade FOREX itself but I do trade the Currency Pairs with Binary Options. Truth is just learn trading fundamentals and you'll be fine. There's so much bullshit on the market from gurus promising overnight results just like in IM - stay away from the bullshit.
Serverextra
Registered Member
- Sep 2, 2014
- 80
- 29
I know some real traders, for what you need them>?
Serverextra
Registered Member
- Sep 2, 2014
- 80
- 29
True but you know its not only learning fundamentals, if you combine it with technical analysis your trades would go way better.
Very interesting indeed, in fact this has become the topic of the day as we know it. Forex trading is gaining new heights and there continue to be influx of people into it.
I really do the appreciate the thread he started. On occasions I have read about an experience of a forex trader on how he succeeded as a beginner. I find it very helpful that I go back to it from time to time.
I would probably share a link to it so you can read more and benefit when am allowed to do so.
What PAMM?..............................
Nial Fuller...................