well, for the last years i just couldn't resist not opening my forex terminal. Although i haven't moved from the demo mode yet, each and every negative trade killed me like loosing real money, and off course each time I had a successful trade my morality took off (successful trade 60$< ; on 1 lot). even you don't get any real money for successful trades, it reals means something as it shows the probability of you having a real trader carer. I haven't taken any courses, maybe sometimes saw some vids, but anyways mostly on my own, which I will change in a couple of days and go to some courses, which hope can teach more than I know. I do about 4 trades daily ... mostly successful, but have a prob with the timing cause I'm still 17 and go to "DA SHIT CLUB" (school) which messes every of my plans. Just today lost about 300$ cause wasn't there to open the sale although had the analysis done for a week before. I want to see how other traders hanging out on dp go with trading these days, maybe share any xp.
I suggest you learn forex properly. If you don't kow how to read trends, and if you're not using tight stop losses then you will get steam rollered by the market. I do Forex trading myself, and yes you can make money but only after detailed study and application. What indicators and timeframe are you using? At a minimum I suggest you read up on MACD divergence, candlestick reversal patterns, Stochastics and RSI. Be aware of times (like news release) where price moves rapidly and thus you can trade retracements. Not sure what this is doing in the business category, but hope its helped.
that was not a question thread ... I do forex a lot ... and successful , although didn't have any help. i guess i'll reach the maximum performance after the course I start tomorrow , well I hope so ...
FYI,there is no correct or right time to enter the market forex. The only principle that make me constant profit in forex is take the correct position at anytime no matter its bulls or bear market.
My friend is MSc in Mathematical Statistics (random processes and time series models). He entered forex almost 3 years ago. After 3 years in this field he sometimes loses all the money he has earned during last month in just 1 day!!! It is as you said the riskiest business one could choose. For someone who does not have a solid background in statistics and mathematical modeling, I would not dare to put even $100.
That is not a problem at all, you simply set up an automatic sell when it reaches X$ profit/loss, you dont need to be infront of the computer yourserlf, any decent Forex platform will have it.
But I guess if you rely on automatic sell/buy (without carefully overseeing it) you may come back one day and see you are automatically bankrupt.