habanerolex
Junior Member
- Jun 16, 2011
- 156
- 42
No more im for me - all forex
- Thread starter trooper
- Start date
BigMoneyMike
Junior Member
- Feb 9, 2010
- 115
- 53
Simply Put "There is no short cut to success"....your success will depend on and is a direct reflection on the time and energy put into your efforts, it doesn't matter what you do!!
rjb4594
Junior Member
- Jan 27, 2012
- 117
- 19
NoirHat
Regular Member
- Feb 4, 2011
- 449
- 216
if your primary focus is capital & risk management...and you don't make the mistake of letting losers ride and quickly closing winners,
you can probably trade.
Throw in some price action training, control greed & fear.
You'll be a full time trader.
The price goes UP or down. you have 2 choices, pretty straight forward game that can make u rich
you can probably trade.
Throw in some price action training, control greed & fear.
You'll be a full time trader.
The price goes UP or down. you have 2 choices, pretty straight forward game that can make u rich
infoasian
Supreme Member
- May 12, 2011
- 1,419
- 438
It's a nice site, but the person running it is losing money trading forex as you can see on her trade blog. Many people who teach forex, but none of them is mastering it. LOL ... it is like SEO.
royalreturns
Newbie
- Apr 8, 2012
- 41
- 5
forex are too random... unless your probability is high even though its still too random...
- Aug 7, 2011
- 1,577
- 1,437
In my country was stock challange few months ago. Everyone to start had to invest about 3k USD - real money. People in my country earn 3k USD in 4-6 months (average salary) so its big amount of money. Results of challange - 66-88% investors lost money. Forex, stocks - its hard game. If you are pro you can earn. I suggest opening demo account with virtual money everyone who want to try forex or stocks. Its good way to gain experience without risk.
infoasian
Supreme Member
- May 12, 2011
- 1,419
- 438
Trading with virtual money is totally different from real money. One has to be patient and limit risks. Hands down it is all about risk management.
MarketingMagician
Newbie
- Mar 10, 2010
- 45
- 76
Unless you wanna spend years trying to become a trader, the only option I'd consider is a managed account, where pro traders trade your capital.
There are traders who have averaged over 100% per year for 10 years, which obviously is important, because you don't wanna give any ol' schmuck your money - they have to have verifiable returns.
It doesn't have to be as risky as it sounds - it depends on risk management.
There are traders who have averaged over 100% per year for 10 years, which obviously is important, because you don't wanna give any ol' schmuck your money - they have to have verifiable returns.
It doesn't have to be as risky as it sounds - it depends on risk management.
Well there are some folks here who obviously know what they are talking about, but those who claim they have a 95% success rate are flat out liars...
Been trading stocks for over 5 years, now more actively involved in futures trading (mainly S&P, gold, crude oil and nat gas), and some forex. Many people prefer to trade forex futures rather than the forex spot. Its a very liquid market (depending on time of day), better executions, greater transparency, and your broker isnt trading against you.
All markets are manipulated to some degree, particularly in the forex/futures market. If you know what to look for, you can often take advantage of this. Also, we as small individual traders can stay nimble and get in/out of a position easily.
Trading can be a very stressful, mentally challenging occupation. At the end of the day, it doesn't matter what you trade, it is imperative you adhere to commonly cited trading rules, for example, using manageable position sizes, always having an exit plan for both winning and losing trades, using mental or hard stop losses etc.
One rule to pay attention to is risk/reward. I only enter trades with a minimum risk/reward profile of 3:1. For example, I risk $100 to make a min $300... I am a profitable trader with a winning trade percentage of around 55-60%. Some traders I know have even less winning trades, but when the win they win big, and keep their losses small. If I make 9 trades in a day, with a 3:1 risk/reward profile, and only win on 4 of them, I can still be highly profitable... Winning trades (4 x 300 = 1,200) less losing trades (5 x 100 = 500) = 700 net profit.
That is a simplistic analysis, but I just use it to show the importance of using solid trading rules, and only entering good risk/reward trading set ups.
Its important to remember, your opinions on what a trade "should" do is irrelevant... The market is always right, rarely rational, and it screws the most people most of the time.
My advice, definitely learn the basics of technical analysis which apply to almost all markets from stocks to commodities, futures, forex etc. Practice with demo accounts (I know, it seems boring but will definitely save you $$$ in the long run).
Follow some reputable traders on Twitter... Yes, there are some fantastic TRANSPARENT follows on Twitter with a lot of knowledge and experience.
If you are into forex for example, follow some of the folk at dailyfx.com... They aren't always right, but nobody is. But they provide some great insight, and actionable trading ideas. There are Twitter users for all markets - just have to find them. I have a great stream of follows for stocks and futures trading, if you want you can hit me up.
And stay away from paid newsletters that promise you unrealistic looking returns.
Been trading stocks for over 5 years, now more actively involved in futures trading (mainly S&P, gold, crude oil and nat gas), and some forex. Many people prefer to trade forex futures rather than the forex spot. Its a very liquid market (depending on time of day), better executions, greater transparency, and your broker isnt trading against you.
All markets are manipulated to some degree, particularly in the forex/futures market. If you know what to look for, you can often take advantage of this. Also, we as small individual traders can stay nimble and get in/out of a position easily.
Trading can be a very stressful, mentally challenging occupation. At the end of the day, it doesn't matter what you trade, it is imperative you adhere to commonly cited trading rules, for example, using manageable position sizes, always having an exit plan for both winning and losing trades, using mental or hard stop losses etc.
One rule to pay attention to is risk/reward. I only enter trades with a minimum risk/reward profile of 3:1. For example, I risk $100 to make a min $300... I am a profitable trader with a winning trade percentage of around 55-60%. Some traders I know have even less winning trades, but when the win they win big, and keep their losses small. If I make 9 trades in a day, with a 3:1 risk/reward profile, and only win on 4 of them, I can still be highly profitable... Winning trades (4 x 300 = 1,200) less losing trades (5 x 100 = 500) = 700 net profit.
That is a simplistic analysis, but I just use it to show the importance of using solid trading rules, and only entering good risk/reward trading set ups.
Its important to remember, your opinions on what a trade "should" do is irrelevant... The market is always right, rarely rational, and it screws the most people most of the time.
My advice, definitely learn the basics of technical analysis which apply to almost all markets from stocks to commodities, futures, forex etc. Practice with demo accounts (I know, it seems boring but will definitely save you $$$ in the long run).
Follow some reputable traders on Twitter... Yes, there are some fantastic TRANSPARENT follows on Twitter with a lot of knowledge and experience.
If you are into forex for example, follow some of the folk at dailyfx.com... They aren't always right, but nobody is. But they provide some great insight, and actionable trading ideas. There are Twitter users for all markets - just have to find them. I have a great stream of follows for stocks and futures trading, if you want you can hit me up.
And stay away from paid newsletters that promise you unrealistic looking returns.
trooper
Regular Member
- Jun 5, 2009
- 207
- 214
Markets are not random just because YOU cannot see the patterns. Price is simply driven by supply and demand. Learn to identify those areas and you have high probability setups.
trooper
Regular Member
- Jun 5, 2009
- 207
- 214
I'm doing ok. I'm spending this time learning different startegies, not trying to get rich overnight. I still have not gone back to any IM activities. I have a full time career and family so I devote what time I can get to trading. I find it much more enjoyable. For some supply demand basics, watch these videos - Supply/Demand odd enhancers. FYI - there is no "Holy Grail" in forex. Don't bother looking.
http://www.fxstreet.com/search/cont....aspx?id=5766b88a-1a31-4102-8221-e9bf77216d2f
ScripterAlex
Registered Member
- Aug 8, 2011
- 96
- 29
I think roulette is a better strategy than forex, the forex companies are all just out there to steal your money.
http://makemoneyfromair.blogspot.com/2012/04/make-money-forex.html
http://makemoneyfromair.blogspot.com/2012/04/make-money-forex.html
streamview2009
Newbie
- Jul 31, 2009
- 3
- 1
HI Guys
in 2010 i traded Forex , and lost 10000$. I learned some lessons , and this year I am starting again to trade Forex.
some of the lesson I learned:
1- never use money that you need. ( save money aside , and when your account in positive , then use the save money and open account)
2- demo account , is just to let you get used to the application and the indicators .( you will not know how you will do in real life , unless you invest in real money) i did a lot of money with the demo account , because I was not afraid to lose any money , so i didn't care if i closed the position early , or i keep it for more win.
3-discipline ( creat rule for your self , stick with it , example , your stop lose is 10 $ , and then , you said to your self , let me increase it more to 20$ , then there is no discipline . stop trading Forex).
4-start with small amount of money ( 100$ per month) and wait to see how much you can grow it. if you lose your 100$ at the 3rd of the month , dont add mone to forex account. wait till next month and add 100$ to your account. assume your renting a store , and every month you pay rent 100$ , and no more.
hope this will help some people, and if you need to know how to lose 10000$ in 3 months , the PM.
roud:
in 2010 i traded Forex , and lost 10000$. I learned some lessons , and this year I am starting again to trade Forex.
some of the lesson I learned:
1- never use money that you need. ( save money aside , and when your account in positive , then use the save money and open account)
2- demo account , is just to let you get used to the application and the indicators .( you will not know how you will do in real life , unless you invest in real money) i did a lot of money with the demo account , because I was not afraid to lose any money , so i didn't care if i closed the position early , or i keep it for more win.
3-discipline ( creat rule for your self , stick with it , example , your stop lose is 10 $ , and then , you said to your self , let me increase it more to 20$ , then there is no discipline . stop trading Forex).
4-start with small amount of money ( 100$ per month) and wait to see how much you can grow it. if you lose your 100$ at the 3rd of the month , dont add mone to forex account. wait till next month and add 100$ to your account. assume your renting a store , and every month you pay rent 100$ , and no more.
hope this will help some people, and if you need to know how to lose 10000$ in 3 months , the PM.
roud:
FrozeN2694
BANNED
- Jun 3, 2012
- 62
- 5
gambling? no thanks.. Better few money than to lose all on trading
SortOfGoodGuy
Junior Member
- Aug 3, 2012
- 150
- 15
So you do not make a living from forex trading? Your positions must be small then?
Comparing IM to forex is like the stupidest thing I have heard in the last few years, no offense OP.
I've been there myself, tried doing a few trades, made some good contacts and they were all amazed at the figures I was making in IM, infact 80% of the people I met trading started doing IM.
I'm not saying you won't make money with Forex but you just need a hell load of cash to take profit.
You're most likely doing IM wrong, I couldn't see anyone having 30K+ weeks with 0 investment doing Forex as I did in IM with Pinterest and Facebook.
I've been there myself, tried doing a few trades, made some good contacts and they were all amazed at the figures I was making in IM, infact 80% of the people I met trading started doing IM.
I'm not saying you won't make money with Forex but you just need a hell load of cash to take profit.
You're most likely doing IM wrong, I couldn't see anyone having 30K+ weeks with 0 investment doing Forex as I did in IM with Pinterest and Facebook.
codexehow
Power Member
- Mar 23, 2012
- 771
- 506
Don't invest any real money in Forex unless you've profitably traded a SMALL real-money account for at least a year.
Otherwise, you are going to lose your shirt. Trust me or not, doesn't matter. You will lose.
Paper trading doesn't have any real value because you don't get to feel the real emotions (fear and greed) with them.
I suggest you follow my advice.
Otherwise, you are going to lose your shirt. Trust me or not, doesn't matter. You will lose.
Paper trading doesn't have any real value because you don't get to feel the real emotions (fear and greed) with them.
I suggest you follow my advice.