How many have really earn in forex trading. I have seen so many ads around the corners. Please share ur experience
Hey Tom, There is a Forex simulation you can try... it's called 'eToro' just search for it... I think it's a real time simulation too... What I found about Forex is... it's much too slow for me... Like if you want to spend all day looking at numbers go up and down etc. Than go ahead... It seems like a glorified job to me... you are not really building assets... On the other hand, if you create a Forex infoproduct, now that's an asset...
Bear in mind that in order to be successful at forex trading you will have to dedicate a whole lot of time to learning, studying, doing researches and then of course trading. You can't just start and immediately expect piles of money coming your way.
I've been up 13.7% monthly for the last 6 months. It took a LOT of practice and an amount of discipline you can't even imagine. For instance, I make extremely detailed logs for each and every trade that I make: entry point, reason for entering, stops and limits, outcome. It's a great way to quickly learn from your mistakes. There's a lot of misconceptions and "half truths" that forex brokers tend to use in ads. You need to start with a decent amount of money or you'll fail due to undercapitalization, and remember that leverage is just more likely to work against you until you've learned to use it wisely. There's actually a way to start on a very low budget, Oanda.com. It's a broker with no affiliate program, which means they don't have to give away half their profits to people reviewing them, and this means that: a) their spreads are the lowest (or among the lowest) in the market; b) nobody is interested in promoting them so it's hard to find them reviewed anywhere on the Net The reason why you can start trading on a very low budget with them is that, instead of trading a unit size multiple of 10,000 or 100,000, you can trade as low as 1 unit (1 $/€/£ depending on what your account base currency is). You won't become millionaire that way, but it's a great way to get started.
Yes i'm trading full time earn around $200/day from my capital 50k. Don't use any cheap broker. Go for reputed broker such as Oanda
Forex Trading is the same as trading Stocks. You need to learn how it works and you also need to spend sometime on searching the best Forex Site to trade on. Most Forex Sites use the MT4 platform to trade on. MT4 is pretty good, i use it to add my systems/advisors. Plus once you learn forex you can use Forex systems or Expert Advisors which you can add on to MT to get buy/sell signals. Its automated. Check : ForexTradingOption.com for a review. Systems/EA's help elimite emotions like Fear and Greed which is the main reason for losses in trades. Hope this helped. Will be posting the % returns from the systems soon.
This is the main rule - don't do that ! For this reason there is stop loss and take profit lines I'm trading forex already 2 years, and .. when I started - it was very hard to keep myself in control ! It's more than hard to see that your money is flying away, and you don't know what to do .. Anyway - read a few books about forex & 2-5 months of practise .. Can't suggest anything else - that's the only way to start earning with this !
it depends person to person i have never met anyone who has made money trading forex....i think option trading is really hard but I know people making so much money doing it.
Forex trade is a good market and when you get the right broker on your side, it is a plus point. My brother is involved in the forex market and he deals with quite a few so I don’t really know which ones he is onto. But, he takes the forex brokers from an online list where they can be sorted according to their country and trading platform. I hope that you will get considerable help from this list.