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Manking money with Forex Trading

Discussion in 'Making Money' started by haki_master, Nov 30, 2014.

  1. haki_master

    haki_master Regular Member

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    Hello everyone,

    i haven't been to this forum for some time now (busy with making money lol). Last months i ve been testing forex strategies and currently im following a plan that i believe is solid and can make me money in the long run. I know that most will say forex is very risky and yes it is. But we the proper money management and strategy that can be successful ie over 70% winning rate you could make some good money in long-term, better than leaving them sit in your bank. So, lets not waste anymore time straight to business, i will be posting every day here live my trading entries with all details so you could follow it and also see the live proof as i know there are many who claim to make money on forex but very few indeed succeed (take it from my previous experience as i too lost money in forex in past). A few important rules that you should know for my trading strategy:

    1. I always trade with up to 5% risk per trade, sometimes could risk 10% but i dont suggest that (money management)
    2. I will be trading 1 trade per day only always eur/usd
    3. I will be posting my live trade as i place it here every day around 7-8am GMT so you can track it
    4. sl and tp points will be clarified every time but usually its 50pips
    5. No need to sit in front of your screen all day, when we set the trade we leave it run and hit tp or sl (usually its tp:))

    So provided that i will follow these simple rules i should average around 300-500 pips every month, wish me good luck!
    PS I cannot reveal anything related to technical and fundamental analysis of my trades

     
    Last edited: Nov 30, 2014
  2. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Premium Member

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  3. OnlineA

    OnlineA Regular Member

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    It took me about 5 years and 40k worth of blown accounts to learn forex, you can't learn anything in a few months and on demo accounts. But I wish you good luck, anyway, maybe you will be the exception of the rule.
     
  4. haki_master

    haki_master Regular Member

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    Yes i thought probably putting it on journey section but then i thought since i will be giving out live entry and exit points on my trades i could post it on make money section as people could actually profit from it.

    I know where you re coming from but let me add that i actually been in forex for years i didnt start just a few months ago but also i didnt trade non stop all these years as i was in different money making projects, but yes someone could assume that due to limited information here but i just wanted to keep ti short and to the point rather than an extensive text
     
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  5. haki_master

    haki_master Regular Member

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    Today's trade is a sell position of eur/usd , i entered at 1.2442 with sl set to 1.2630 and tp set to 1.2392
     
  6. CyberAlien

    CyberAlien Regular Member

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    If you aren't going to "reveal anything related to technical and fundamental analysis of my trades" then you may want to consider posting it in the suggested forum. But it's up to you, or a mod lol.
     
  7. OnlineA

    OnlineA Regular Member

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    I was buying all the dips today, first short open at 2475, second then 2485, all closed now, for 60 pips. If you have a system that made you enter short 20 pips from today's bottom, maybe you should work on a better entry, so you can work with a smaller SL and risk less for more potential profit. Your SL is almost 200 pips and your profit target only 50, thats a very bad reward/risk ratio. With good entries, you should be able to survive a 20-30 pip SL and target 50-100 pips profit minimum.
     
  8. haki_master

    haki_master Regular Member

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    Its just different strategies, as i said dont risk more than 5% of your capital per trade and follow up the strategy to the end, smaller sl may seem safer but also more chances that it hits the sl. I dont always have such big sl points.
     
  9. | ALIEN |

    | ALIEN | Regular Member

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    5% is a lot don't you think? After losing 5 trades in a row about a quarter of you account is gone. But as you said, it is all about MM.
     
  10. OnlineA

    OnlineA Regular Member

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    I'm not talking about smaller SL, but smarter SL...if you see the price bottoming, there is no point to sell, better wait for a higher entry, if your system says short...for example today, good short opportunities above 2500, you could have now a at SL 20-30 pips and a high probability of profit. Just saying...:)
     
  11. haki_master

    haki_master Regular Member

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    You say smarter sl and link it to price bottoming but that is something relevant to the hourly chart not weekly so all depends on the strategy afterall, i said in my first post i dont intend to reveal technical and fundamental analysis so its hard to make an argument so i ll just say thanks for your input and if you want watch my performance for the next few weeks
     
  12. OnlineA

    OnlineA Regular Member

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    I wish you good luck, just saying that there is more profit in it, when you are more patient with entries, no matter what system you use, if your system tells you to sell, wait for a spike, if it tells you to buy, wait for a drop, we get both on daily basis.
     
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  13. haki_master

    haki_master Regular Member

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    Yesterday's trade will remain open. Also today's trade opened at 1.2458 with sl set to 1.2630 and tp 1.2408.
    I have my birthday today so wish me luck lol
     
  14. timegrowth7

    timegrowth7 Newbie

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    Forex trading is risky, its more likely for someone to lose money than earn.
     
  15. johnnyr860

    johnnyr860 Junior Member

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    To each their own. But I am sorry Forex is just not for me. After having blown away almost half my savings account (and yes this did happen to me) by trying different methods on Forex for making money I simply can't take any more risk. Some screeshots of your earnings proof would be nice so people can see how much you started and ended with. But as others have stated this is simply too risky and I have lost too much money to consider this route again but thanks for the post anyways I wish you the best of luck.
     
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  16. muppets

    muppets Registered Member

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    I've seen a lot of people making serious money from forex, but again, as everyone said, its very very risky
     
  17. haki_master

    haki_master Regular Member

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    Most people if not all people when they start trading in forex they lose money. I wont lie that i didnt but i am confident that i can make it successful this time after all the testing. I do post live my entry and exit points so no need really to post screenshots here for proof (screenshots can be photoshoped too you know so i dont trust that as proof).
     
  18. haki_master

    haki_master Regular Member

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    Both trades hit tp today for a profit of 100pips total so far :)
     
  19. haki_master

    haki_master Regular Member

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    Today's trade opened at 1.2368 with sl set to 1.2335 and tp set to 1.2418
     
  20. lilmasta

    lilmasta Jr. VIP Jr. VIP Premium Member

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    Manking money ?