Starting to Learn Forex/Trading from 1st August

paja93 said:
trust me, somehow its never as good as it was with demo money :D
Click to expand...
agree, all my demo money is profitable lol
you really cannot learn those emotional control in demo ACC, and it's one of the important part of trading.better do micro trading with small money than demo acc
 
Advertise on BHW
Good luck, forex trading like with any trading can be profitable if done correctly. I do crypto trading and honestly most of my knowledge and learning come from small sub 1k twitter accounts that share their analysis.
 
About forex, binary options or trading, the most profitable job is selling dreams and promoting your affiliate link.

Good luck anyway
 
I´ve been trading since the end of last year seriously. It´s profitable, but you need to get over a lot of the getting rich quick thinking with Forex (unless you have very deep pockets from the start and know how to trade obviously). I learned this after flying to $50k from $5k - taking me around 2 weeks give or take each time, then losing the lot in a day or two!

I had zero control over my lot sizes, going all in on trades I thought would do well, and a lot of the time they would do - which made me increase lot sizes quickly, which in turn lead to a few bad trades blowing me out - later kicking myself for not withdrawing $45k or so when I´d hit that sweet spot of $50k, leaving me with $5k to play with again.

What I learned was valuable though - first up I seen money can 100% be made there, but that it can also be lost just as, if not quicker!

You need to go after pips is something I´d always heard but not understood until going on those initial rampages. That´s what I do now, my risk is much lower, generally 2% of my entire pot if it hits "Stop Loss". Less trades entered now too, on top of other factors I keep an aye on - high impact news, I use https://www.fxstreet.com/economic-calendar to monitor that daily. These can make or break a trade very quickly, I try to avoid trading around the high impact (labled red on that calander I link to) news events.

I´ve also found Friday to be a day of problems - I often skip Friday or take maybe 1 trade if it´s looking solid.

I AVOID Gold at all costs, wayyyy to volitile (I learned the hard way) - stay clear bros.

I try to stick to the bigger more popular currency pairs now.

Ultimately I´ve found that if you can get the discipline down, slow and steady building your pot, focusing more on being profitable each week based on pips won vs watching the numbers go wildly up (then losing the run of yourself with large lot sizes), you can be profitable. I haven´t had a losing week in around 4 months now. I have days where every trade might hit Stop Loss, but over the course of the week I always walk away with anything from 250 pips, up to 1000 or more "pips won" for that week.
 
Elvlin said:
agree, all my demo money is profitable lol
you really cannot learn those emotional control in demo ACC, and it's one of the important part of trading.better do micro trading with small money than demo acc
Click to expand...
When it comes to sport betting i was never emotional/mad when i lost, i was planning to do something like this: Demo account 1k$ > small trading with 100$ if it goes good > nornal trading with 1k$ > if i am good raise it to 20k$
Sol said:
Good luck, forex trading like with any trading can be profitable if done correctly. I do crypto trading and honestly most of my knowledge and learning come from small sub 1k twitter accounts that share their analysis.
Click to expand...
As i said 25-30% people are profitable other 70-75% probably just don't know what the f they're doing same as sport bettors or maybe it's just not for them/they didn't learn enough.
eXonyte said:
I´ve been trading since the end of last year seriously. It´s profitable, but you need to get over a lot of the getting rich quick thinking with Forex (unless you have very deep pockets from the start and know how to trade obviously). I learned this after flying to $50k from $5k - taking me around 2 weeks give or take each time, then losing the lot in a day or two!

I had zero control over my lot sizes, going all in on trades I thought would do well, and a lot of the time they would do - which made me increase lot sizes quickly, which in turn lead to a few bad trades blowing me out - later kicking myself for not withdrawing $45k or so when I´d hit that sweet spot of $50k, leaving me with $5k to play with again.

What I learned was valuable though - first up I seen money can 100% be made there, but that it can also be lost just as, if not quicker!

You need to go after pips is something I´d always heard but not understood until going on those initial rampages. That´s what I do now, my risk is much lower, generally 2% of my entire pot if it hits "Stop Loss". Less trades entered now too, on top of other factors I keep an aye on - high impact news, I use https://www.fxstreet.com/economic-calendar to monitor that daily. These can make or break a trade very quickly, I try to avoid trading around the high impact (labled red on that calander I link to) news events.

I´ve also found Friday to be a day of problems - I often skip Friday or take maybe 1 trade if it´s looking solid.

I AVOID Gold at all costs, wayyyy to volitile (I learned the hard way) - stay clear bros.

I try to stick to the bigger more popular currency pairs now.

Ultimately I´ve found that if you can get the discipline down, slow and steady building your pot, focusing more on being profitable each week based on pips won vs watching the numbers go wildly up (then losing the run of yourself with large lot sizes), you can be profitable. I haven´t had a losing week in around 4 months now. I have days where every trade might hit Stop Loss, but over the course of the week I always walk away with anything from 250 pips, up to 1000 or more "pips won" for that week.
Click to expand...
Thanks, at 1st august i will start reading and watching bunch of stuff related to forex that i found
 
simplefresh said:
Trading, in the long run, isn't profitable. People who tell you otherwise are making 90% of their income through affiliate links and sponsorships. Just sayin ...
Click to expand...
Your statement is not true. There are a lot of people that I know especially from my country who have been trading profitably for more than 5 years and they consider that as their job now.
 
Elvlin said:
if your goal is massive profit, then you better promote trading and get a bonus as an affiliate.
trading is not easy 95% lose money, if you don't have a fundamental understanding of how macro and micro economy work. in my opinion you are just gambling.
Click to expand...
Fundamental play a huge part no doubt but you can still be a tecnical analysis trader and be profitable. The main thing is to stick to a working plan, manage your funds properly and dont be greedy. If one stick to those, there is a huge chance he is going to be successful.
 
Trading is very profitable, you just need proper risk management techniques.
 
I hope you will read my message and after that ask the BHW team to close this Thread.

I have been working for the past decade with actual Forex Brokers, Regulated / Un-Regulated Doesn't matter.
When you enter the Forex Trading System, There is only one thing the Broker wants to do, and that to take your money.

That's called a "Market-Maker" Position, and by the way if you think Regulated Brokers are not Market Makers because they are "ECN" or "STP"
Thats one big bullshit. No Regulation, not the FCA, Cysec, ASIC, no one regulates that.


So LEARN about Forex. Do NOT Trade Forex/CFDs/Leveraged Trading.
 
JonWas said:
Fundamental play a huge part no doubt but you can still be a tecnical analysis trader and be profitable. The main thing is to stick to a working plan, manage your funds properly and dont be greedy. If one stick to those, there is a huge chance he is going to be successful.
Click to expand...
you need both, and also have a stable amount of money in the bank. a lot people think they can live just by trading with just limited money this is fooling yourself. a 10% stable profit from trading is already a big achievement. basicly you do it for living, when you already have decent capital where 5-10% profit is enough to pay all bills .
 
please share your results, id love to see how you will lose all your money hahahaha
 
Elvlin said:
you need both, and also have a stable amount of money in the bank. a lot people think they can live just by trading with just limited money this is fooling yourself. a 10% stable profit from trading is already a big achievement. basicly you do it for living, when you already have decent capital where 5-10% profit is enough to pay all bills .
Click to expand...
A lot of people have used pro funds to make good amount of money. 1% of $1m is $10k and if you just target 2% daily, that is $20k and a $1M pro fund account if what you can get with $10k or less. So a lot of succeeding people that I know that trade forex are not just just to use it to pay bill but to get something substantial.
 
JonWas said:
A lot of people have used pro funds to make good amount of money. 1% of $1m is $10k and if you just target 2% daily, that is $20k and a $1M pro fund account if what you can get with $10k or less. So a lot of succeeding people that I know that trade forex are not just just to use it to pay bill but to get something substantial.
Click to expand...
that is why I suggest being a marketer since basically, you need investor money. promote it and take commission.
when you reach the point you can put personal money $1m earned by yourself(except inheritance or lottery winner) 10k /20 is not substantial.
 
Elvlin said:
that is why I suggest being a marketer since basically, you need investor money. promote it and take commission.
when you reach the point you can put personal money $1m earned by yourself(except inheritance or lottery winner) 10k /20 is not substantial.
Click to expand...
I was not talking about promotion here. Pls get it right. If you DO NOT understand/know what pro funds means, a little search on Google will help you.
You do not need $1M of your own money to get $1m profund trading account. You only need $10k or less.

One can even apply the same logic to smaller amounts. All you just need is to follow your plan judiciously, be very disciplined in your risk management, be focus and dedicated, then you can make good money TRADING (emphasis).
 
When talking about forex, a lot of people have their own biases, and they bring those biases to the discussion.
If you are discussing from a rounded point of view, that I can understand. But a discussion from a shallow point of view or half truth is dangerous.
 
Elvlin said:
agree, all my demo money is profitable lol
you really cannot learn those emotional control in demo ACC, and it's one of the important part of trading.better do micro trading with small money than demo acc
Click to expand...
I agree with you 100%
 
It's hard. I spent a whole year just to learn and play with demos.
Yes you can make money.
Yes you can lose money too.
The journey is interesting, the emotion controlled thru seeing your plan not working and losing money.
You should try, but don't make it a full-time job.

Have fun learning and good luck! ;)
 
JonWas said:
I was not talking about promotion here. Pls get it right. If you DO NOT understand/know what pro funds means, a little search on Google will help you.
You do not need $1M of your own money to get $1m profund trading account. You only need $10k or less.

One can even apply the same logic to smaller amounts. All you just need is to follow your plan judiciously, be very disciplined in your risk management, be focus and dedicated, then you can make good money TRADING (emphasis).
Click to expand...
Do you mean margin/leverage trading? well, that is riskier, if you mean money invested by a company for you to trade with, then basically it's an investment, that comes from marketing, either promoting yourself to the company/investor/if the company has a contest etc.

Yes in theory what you say is true, just like anyone knows to buy low and sell high, but the reality is not that simple people know discipline and risk management we are human and always bring emotion into trade, and it can make good money,
but no it won't make you rich if you don't bring investor money or any other term you use, and the required discipline and emotion required to handle a 10k account, and 1mill acc is different. trading your own money, and trading investor money is also a whole diff case, except you are a machine, there is a reason why 95% of people trade is losing money.
 
Advertise on BHW
You must log in or register to reply here.
Sign up now!

Main Menu

Home Main Forum List Black Hat SEO White Hat SEO BHW Newbie Guide Blogging Black Hat Tools Social Media Downloads

Marketplace

Account Selling Content / Copywriting EBooks / Methods Hosting Misc Proxies For Sale SEO - Link building SEO - Packages Social Media Social Media - Panels Web Design More

Making Money

Affiliate Programs Hire a Freelancer IM Journeys Making Money Pay Per Click Site Flipping Want to Buy

BlackHat World

Dispute Resolution Forum Suggestions & Feedback Introductions Lounge
Back
Top