Subject
Power Member
- Dec 26, 2007
- 656
- 307
Nope. It depends on our investment, Leverage, SL, TP, trade setups etc.95%You must be a billionaire then!
You cant just double your account balance on each trading..
No more im for me - all forex
- Thread starter trooper
- Start date
You cant just double your account balance on each trading..
Subject
Power Member
- Dec 26, 2007
- 656
- 307
My balance was $815 on monday. I got 16 trades this week. I only trade eurusd and wait for the setups comes to me. Need good patience on forex. Got 14 profit trades and 2 loss trades. My TP is 13 pips (+2 pips spread) and SL is 30 pips. This is not a good R:R ratio, but it works very well for my trading strategy. My broker have 2 pips spread on eurusd.
So total I made 182 pips this week and here is the money I got from it. I dont have a 10K account and I use 0.90 cents per pip volume.
14x13 = 182 pips
182 = 0.90 cents = 163.8$ profit this week.
Balance: 815+163.80 = 978.80$
If I have a 10K account, I can use 10$ per pip volume. But I am satisfied with my current earnings.
Do not over leverage and don't think you can get rich by one night. Market is always right and it will be there tomorrow. If you have a 100$ account and you made 20$ in one year, that is 20% return. Thats what most banks make in a year in other investment things. But in forex, you can make more than 20% return per month.
So total I made 182 pips this week and here is the money I got from it. I dont have a 10K account and I use 0.90 cents per pip volume.
14x13 = 182 pips
182 = 0.90 cents = 163.8$ profit this week.
Balance: 815+163.80 = 978.80$
If I have a 10K account, I can use 10$ per pip volume. But I am satisfied with my current earnings.
Do not over leverage and don't think you can get rich by one night. Market is always right and it will be there tomorrow. If you have a 100$ account and you made 20$ in one year, that is 20% return. Thats what most banks make in a year in other investment things. But in forex, you can make more than 20% return per month.
Subject
Power Member
- Dec 26, 2007
- 656
- 307
Trading news time is very risky and exciting.
Especially nonfarm, employment data etc.
I stopped news trading because, I found out that at an important news release, the fluctuation will affect many pairs. For example; I was trading eurjpy and CAD news was released. eurjpy jumped 100 pips and I got loss. This type of things happened many times with many pairs to me. So no news trading for me..
Especially nonfarm, employment data etc.
I stopped news trading because, I found out that at an important news release, the fluctuation will affect many pairs. For example; I was trading eurjpy and CAD news was released. eurjpy jumped 100 pips and I got loss. This type of things happened many times with many pairs to me. So no news trading for me..
Roparadise
BANNED
- May 25, 2011
- 784
- 1,422
If there is a currency not listed on forex but its value changes everyday,how does one trade it?
ripmaniamania
Newbie
- Feb 27, 2012
- 20
- 3
I can fill in with some experience as well. Im using copytrader function at eToro. And it's awesome. Gained $23 dollars first week on my $200 dollars. I have now invested about $2000 and got a total of $291 on 3 days. Remember, it's better to copy ten traders then one. Pick the ones with good trade % and gain and your off to a good start.
I will probably go for $1000 bucks on each copytrader soon to get a nice passive income
If you want to make trades yourself (which im not intrested in), learn the stuff!
I will probably go for $1000 bucks on each copytrader soon to get a nice passive income
If you want to make trades yourself (which im not intrested in), learn the stuff!
NoirHat
Regular Member
- Feb 4, 2011
- 449
- 216
The Bigtime 'trade copying' type site is
www.Currensee.com
it's top notch
I'm definitely for piggybacking other VETTED traders
www.Currensee.com
it's top notch
I'm definitely for piggybacking other VETTED traders
- Oct 4, 2011
- 199
- 1,038
Similiar to playing Poker to earn money.
Wish you good luck with your forex journey. I have all my sites running on autopilot and beside of that I also enjoy doing some forex trading and playing Poker
Wish you good luck with your forex journey. I have all my sites running on autopilot and beside of that I also enjoy doing some forex trading and playing Poker
angrymarbles
Newbie
- Jan 16, 2012
- 12
- 1
I've dabbled in currency in the past. Did well and then not so well. The experience was eye-opening. A while later I came back to the topic but a bit more established and have been trading s&p futures for a 3 years now. I'm doing ok. =) I have very few losing trades and I rarely ever have a losing day. Discipline was the hardest thing and still is the hardest component. There are various strategies you can use both on forex or on futures, etc...
Once you have found a strategy or two that are solid, they keys are not to over trade, not to be greedy, stick to a plan, don't break your rules, don't trade more than you can lose (make sure that the way you trade allows your account live to trade another day).
I also have some funds invested with a friend who is pretty consistently successful at trading and thats a beautiful thing. Having a great network of people with mutual benefits to working together- its a beautiful and powerful thing.
Good luck and its nice to see how many traders there are here!
Once you have found a strategy or two that are solid, they keys are not to over trade, not to be greedy, stick to a plan, don't break your rules, don't trade more than you can lose (make sure that the way you trade allows your account live to trade another day).
I also have some funds invested with a friend who is pretty consistently successful at trading and thats a beautiful thing. Having a great network of people with mutual benefits to working together- its a beautiful and powerful thing.
Good luck and its nice to see how many traders there are here!
I've read through a couple of pages of comments here. I have just found myself saying 'BS' every other post. People making 80% here, 80% there. Yeah, they make it, but they don't tell about how many accounts they've wiped out.
I think the rule in Forex is simple.
High risk = high reward
Low risk = low reward
As crude and simple as that sounds, that's the truth for the majority. Don't hate on me. For the majority, it's better to follow someone who knows what they are doing. Like zulutrade for example, you can follow people who have proven track results who can't BS their way to success. There are some good ideas there on the fatcat forum. I'm thinking of becoming a service provider but need to gather together enough scratch to have a sufficient live account, which I think should be at least $10,000. When I do provide a zulutrade service provider service, I'll let you guys know how it's fairing for me.
I think the rule in Forex is simple.
High risk = high reward
Low risk = low reward
As crude and simple as that sounds, that's the truth for the majority. Don't hate on me. For the majority, it's better to follow someone who knows what they are doing. Like zulutrade for example, you can follow people who have proven track results who can't BS their way to success. There are some good ideas there on the fatcat forum. I'm thinking of becoming a service provider but need to gather together enough scratch to have a sufficient live account, which I think should be at least $10,000. When I do provide a zulutrade service provider service, I'll let you guys know how it's fairing for me.
RatcliffRyannn
Newbie
- Apr 27, 2012
- 14
- 1
Forex is good but dude this thing is quite risky, got friends found them with big money and after some days they were with zero
Forex is good but dude this thing is quite risky, got friends found them with big money and after some days they were with zero
That's exactly what I was saying.
High risk = high reward
Low risk = low reward
Your friends probably had high leverage, so they won a lot, but that means you will also lose a lot.
Roparadise
BANNED
- May 25, 2011
- 784
- 1,422
Does anyone know how a currency like the Romanian lei changes in value,when its not traded on forex?
MoellerRivaa
Newbie
- Apr 27, 2012
- 12
- 0
internet marketing is the best for me, it is more suitable according to my taste and time.
If you can convert it at the travel agent (Bureau De change), then it will change the value of the currency, as you're getting rid of one currency and buying another, thus changing the supply and demand.
Also, businesses will be converting the Romanian Lei and the like into other currencies for import and export; thus changing its value.
Comic
Regular Member
- Jun 17, 2010
- 289
- 193
I was actually a professional trader for many moons. Yup, I'm that old. I still trade several accounts but more on a swing basis because I got tired of the daily grind that the market requires. I ended up running a consulting / marketing firm and enjoy that a lot. I also have a community job part time now to keep my mind clear and remind me of how good I have it.
You can make a great living trading. Anyone can trade, but the one thing that most people lack is self discipline. If you have really good self discipline and the ability to see each transaction as a new transaction and not some conspiracy, you would do fine.
FWIW, my old mentor would tell you that there are two types of people that make perfect traders. Airline pilots (Because they trust the screen) and gamers (because when they die, they know how to hit the start button again). That's a very true statement.
So now think about that and apply that to marketing. A lot of what we do requires discipline.
Yup, I'm that old. I still trade several accounts but more on a swing basis because I got tired of the daily grind that the market requires. I ended up running a consulting / marketing firm and enjoy that a lot. I also have a community job part time now to keep my mind clear and remind me of how good I have it. You can make a great living trading. Anyone can trade, but the one thing that most people lack is self discipline. If you have really good self discipline and the ability to see each transaction as a new transaction and not some conspiracy, you would do fine.
FWIW, my old mentor would tell you that there are two types of people that make perfect traders. Airline pilots (Because they trust the screen) and gamers (because when they die, they know how to hit the start button again). That's a very true statement.
So now think about that and apply that to marketing. A lot of what we do requires discipline.