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No more im for me - all forex

Discussion in 'BlackHat Lounge' started by trooper, Aug 29, 2011.

  1. trooper

    trooper Regular Member

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    I'm tired of chasing pandas etc. So much work can go up in smoke because of the googlepricks and let's face it, it's out of your control. I've spent several months learning forex and will never go back to IM.


    Code:
    Learn About Forex
    
    https://secure.efxnow.com/forex2/eng/ct-dummies.pdf
    
    learn chart patterns
    http://stockcharts.com/school/doku.php?id=chart_school
     
    http://www.traderslog.com/downloads/charting_made_easy_john_murphy.PDF
    
    popular learning site - takes you step by step
    http://www.babypips.com/school/
    
    Disclosure: The first pdf has some etoro aff links in the last chapter(not mine). The first two chapters are a good intro to get the concept.

    I can add more resources if there is interest or plz continue the thread with non-affiliate resources and experiences.

    Thx!
     
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  2. PitchBlack*

    PitchBlack* Junior Member

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    Goodluck with this man. Hope you really understand the concept of money management, because one bad trade and you could lose everything. Best of luck, keep us updated.
     
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  3. trooper

    trooper Regular Member

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    lots of views but no comments?

    i'm up 30% ROI for the week

    who else trades forex here?
     
  4. Bryan

    Bryan Power Member

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    i've been wanting to get into either forex trading or stock trading

    how much would you recommend me investing for a starter? what's the lowest i can invest in, don't want to risk too much at first, just want to learn more, thanks!
     
  5. rtyej

    rtyej Newbie

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    Thought about it but high risk and needing to jump in at the right moment has kept me away a little bit, how much are you actually making with currencies? Are you also doing metals?

    Look at the different trading sites, you may not want to go with their minimum since it will probably be spent immediately and I would expect some loss.
     
    Last edited: Sep 1, 2011
  6. clyde

    clyde Elite Member

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    lol forex lol
     
  7. rtyej

    rtyej Newbie

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    I take it you are not much for gambling either.
     
  8. Adlad

    Adlad Power Member

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    I've read quite a few places that 90%+ of Forex traders lose money overall... Just like 90%+ of people who try to make money online fail. Don't really see the difference. Trading Forex and getting a sizeable return for your investment is damn near impossible in my opinion
     
  9. Myopia

    Myopia Newbie

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    i doubt youre any good at forex in such a short period of time... i read several university level text books on technical analysis and still do not actively participate in the forex market. Unless you have money to waste, dont listen to this guy. First of all you need a min of 10,000 to invest to cover your bad calls until they recorrect, if they recorrect before your tiny 10,000 goes negative and the trade auto closes... get a signifcant amount of savings, work with real-time practice accounts and maybe after a year or two you will have learned enough about the market to place 30%+ profitable trades.

    Wall street brokers dont even average 30%+ positive trades... and this guy says he's up 30% during a time where the market is relatively stable... Unless he opened an account with a few hundred dollars and it making 20-30 bucks a day, i call bs.
     
  10. arnx

    arnx Newbie

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    my 1 cent: trade it at 1:10 max leverage and use just 10% of capital at anytime/all the time - more than that you are toast! practice withdrawing a target amount weekly - no matter how small, if you can lolz...

    Good luck with your trading.
     
  11. assassinmarketing

    assassinmarketing Regular Member

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    Stay away from stocks way to volatile at the moment. Forex is king.
    commodities are iffy. precious metals? maybe if you can get your hands on the mines or land rights etc. Invest South, stay away from US markets.
    Brazil,Chile,Singapore,Hongkong etc. good bets

    playing the stocks? better odds in Vegas man.
    anything Fed backed is pointless:pirate:
     
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  12. jcbizzled

    jcbizzled Registered Member

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    I never liked FOREX much, but I do enjoy trading S&P futures stuff. Some algorithmic and some manual.

    But with all due respect, the financial markets are also out of your control. ;)
     
    Last edited: Sep 1, 2011
  13. teeniegenie

    teeniegenie Supreme Member

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    Exactly...stock picking/forex is just a form of legalized gambling for most people (very few truly know what they are doing...)
     
  14. trooper

    trooper Regular Member

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    well i do know what i'm doing and am doing well, some days better than others. I didn't just pick up a "university textbook". I have a local pro mentor and local peer trading group which has speed up the learning curve. I am trading live with a small initial balance after many months of demo trading, but the results will scale with my account since I'm not over-leveraging and will maintain that percentage I use to trade with. Yes you can lose your ass if you don't know what you're doing, just like in anything else. Yes the finacnce market is "out of my control" but my trades are not. Solid money management is a key factor.

    personally i like forex better because who knows how many people will click your aff link, or how much the network will shave, etc. You can spend all the money on PPC you want but how many that buy is out of your control.

    with trading you can see the results in real time. if I make a bad trade, it's just like a bad PPC ad. but a good trade will make money. a good PPC might make you money depending on the factors I mentioned.

    this post wasn't meant to bring out uneducated haters of forex. it's to show new people the power of trading. I'm not rich from it, but my chances are better than hoping some BS aff network sends me a check from slinging acai berries scams.

    example trade from this week

    GBP/NZD Sold at 1.94132 on 8/29/11 at 9:22 pm Eastern. The trade is still open right now (I analyzied from the weekly/daily so letting this run until tomorrow probably)
    Well see how the price plays out. You have to monitor your trades.

    If anyone thinks they can use a stupid forex robot they are wrong. This is not for the lazy.
    As of this moment the price is 1.90021. That's 411 pips. The value of a pip depends on what you are willing to risk.
     
  15. trooper

    trooper Regular Member

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    this guy has absolutly no idea what he is talking about
     
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  16. asprind

    asprind Junior Member

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    So, how much are you actually banking in, and for how long have you been doing it?
     
  17. helio777

    helio777 Junior Member

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    Bernie Madoff?

    Beardstown Ladies?

    :helpdesk:
     
  18. CokeCola

    CokeCola Newbie

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    Hilarious thread! - I'm now into Forex ... up 30% blah ...

    I've been a forex trader now since 2008 - and work it daily - i take it you have read the pdf information and thought eh! i can do this - it's like red or black / yes or no ... anyone can, very few make a living ... and when you are using your real money - your emotions will get in the way!

    Good luck with your demo account, when you have a few loses you'll soon be back to adsense.

    :pirate:

    //CC

    I used a demo account for 6 months in 2007 and started trading in early 2008 - using real money - I trade and have full accounts with DBFX and SAXO Bank for over 2 years.
    I never trade news / i never over trade /
     
    Last edited: Sep 2, 2011
  19. timothywcrane

    timothywcrane Power Member

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    Best non-IM pitch I've seen here in a long time, but no thanks.

    I know a guaranteed way to make you money in Forex. Pick up pennies when you find them, melt them into a housing, and sell for scrap copper. Don't get caught doing this for over $100 in the US, as it is now against federal law, since they found out it cost more in metals to make a penny than its face value.

    And No, I am not joking.

    edit: I think one of my kids spilled apple juice on my keyboard. If anyone had the pleasure of my intro to picking up penis to melt down, I apologize.
     
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    Last edited: Sep 2, 2011
  20. artizhay

    artizhay BANNED BANNED

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    Man don't listen to the assholes in your thread. I mean CokeCola joined just to tell you that you suck. Making stupid assumptions like your emotions will get in the way, or you will fail and go back to AdSense. We have a supportive community here, not made for fuckers like him.

    I wanted to get into Forex but I just don't have the time to research it. It looked so complicated when I opened a few demo accounts, I just didn't bother. So I commend you for making 30%, whether it's $0.30 or $300, no one can tell you you didn't make 30%. Good luck!
     
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