RamChaturvedi
Supreme Member
- Apr 7, 2009
- 1,408
- 467
How much is the ROI?
Manking money with Forex Trading
- Thread starter haki_master
- Start date
haki_master
Power Member
- Feb 24, 2012
- 525
- 177
Type mistake but cant change it now too late if a mod will then please do so
ROI depends how much % you risk per trade , for example if i risk 5% per trade and i yield average 400-500 pips per month i would profit 40-50% of my total capital per month
haki_master
Power Member
- Feb 24, 2012
- 525
- 177
Today's trade hit sl so we lost 33pips and this week so far we have won 67pips
haki_master
Power Member
- Feb 24, 2012
- 525
- 177
Today's trade is a sell position of eur/usd, i entered at 1.2300 with sl set to 1.2340 and tp set to 1.2250
haki_master
Power Member
- Feb 24, 2012
- 525
- 177
haki_master
Power Member
- Feb 24, 2012
- 525
- 177
Trade closed with loss of 40pips, total profit this week +27pips, not one of the best so far
infoasian
Supreme Member
- May 12, 2011
- 1,419
- 438
Foex trading is probably cool but even better is being a forex affiliate. Earnings are usually 25% and there are no risks involved
There are almost no real forex affiliate programs. All I see are affiliate programs for binaries.
In fact in forex the learning never stops, you always learn since there are new strategy, plans, systems and the likes. Then especially for newbies, it very much vital that we learn properly before going into it.
It can really take years to get the handle on the forex thing.
It can really take years to get the handle on the forex thing.
wokaka
Senior Member
- Apr 1, 2010
- 995
- 269
it's not counter productive. it's to limit your losses. actually those "level 2 traders" you mention can also do the same thing to you. He see you have big lot position without SL and he bring you down with one single transaction. You only need one breaking news to destroy an account without SL. I know last month's SNB event cannot be set as example (considering LPs fool us around with their huge spreads) but in case such thing happen again but this time LPs take our orders, most likely you will get destroyed in case you have open position and at the same time such breaking news turn the market against you (and unexpected breaking news like that happen several times a year)
Eventually forex is all about risk management. It's ok to have 6 losses out of 15 trades, for example, as long as your R:R is good enough. Trading without SL means you do not want to accept losses and it's very dangerous in long run. I have plenty of losses too but that's life of forex trading. I won't survive trading with the exact same method if not because of my SLs. Sure "hoping" one day price goes back to our entry level is nice, and there are so many cases where price eventually retrace back to our entry level after they hit my SL, but i don't regret those entries.
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wokaka
Senior Member
- Apr 1, 2010
- 995
- 269
the thing that most people fail to understand is that no matter what you will always have drawdown and bad weeks. This is something that most people cannot accept in their life. They want to find the "holy grail" to make them money every single day. and if there's one week or one month where they dont make money/lose money, they learn new strategies and systems over and over again because they are unsatisfied with their previous methods. The satanic cycle about learning new method, fail again, learn new ones again, fail again, is the one keeping you unprofitable. People think the market changes. While i dont dispute that but we must remember that price action often repeats the same movement over and over again. Knowing how the market behave means we have an edge. We need to keep the edge in our favor because even though market changes but the "behavior" (or as traders say "price action") often does not. the older strategy doesn't mean they cannot adapt to newest market. in fact they often work better in terms of consistency. You just have to adapt with the lot size, the pips count, etc.
What you need is to learn and test a proven strategy and stick with it. For example, the strategy I'm using right now, i have backtested it for more than 200 transactions and I also backtested some random months in each year for the past 5 years. Apart of that, I also forward tested it for 3 months before going live with it. I have now live traded with it for over 18 months and I do not win all those months, i also have losing months, maybe total 5 months out of those 18. However imagine if i learn new system once i have just one single losing month then I would fall into the satanic cycle i mentioned earlier. Forex is about marathon and it's completely normal to have losing weeks or even months as long as we keep our risk management in check and we can keep winning over the long run (like let's say every 4 months or 6 months).
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Ive made some money trading forex..heck even left my job. First learn the basics such as fundamental and technical analysis then it stops being a gamble. If you could win 80% of trades then your in the money easy. Get a demo account at one of the fx brokers online then use this free indicator here; goo.gl/YZsYmA
Compared to Forex trading, Binary Options trading doesn't need any kind of experience, and you need not to blow all your money just to go through the learning process. All you require is strategies and trading signals i.e. signals from 24option are 80% accurate (based on my own experience when I executed trades based on those signals).
I have no idea what you are trying to say here, but what if there are signals that tell you when you buy an asset for 1 hour?