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Earning money on FOREX?

Discussion in 'General Business' started by Timehacker, Feb 12, 2009.

  1. #1
    Hello,
    does someone have some experience with making money on Forex currency exchange? I've read many thing about it, but I'm still not sure if it's worth to try.
    If you have some experience with it, I'll be thankful to know your opinion.
    Thanks.
     
    Timehacker, Feb 12, 2009 IP
  2. alber859

    alber859 Active Member

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    #2
    alber859, Feb 12, 2009 IP
  3. Ebayguy

    Ebayguy Peon

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    #3
    forex is not a place to make a quick buck. It takes YEARS to really understand how the markets work and you should spend time on a free demo account before even considering going live
     
    Ebayguy, Feb 12, 2009 IP
    alber859 likes this.
  4. alber859

    alber859 Active Member

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    #4
    I agree. This is what I did: I tried a free account and I figured out that it wasn't for me at this moment...
     
    alber859, Feb 12, 2009 IP
  5. pravyn_p

    pravyn_p Peon

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    #5
    You can use e toro for a demo account and practice trading using virtual money. the markets are updated live and you will do demo trading
     
    pravyn_p, Feb 12, 2009 IP
  6. mentos

    mentos Prominent Member

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    #6
    Yes currently i'm making forex trading my full time job.
    Usually i only trade 1 hour/day.
    It the best online money earn tools coz i average earn $500/day from scalping the market.
     
    mentos, Feb 12, 2009 IP
    alber859 likes this.
  7. alber859

    alber859 Active Member

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    #7
    Wow, it's pretty impressing :eek: nice work ;)
     
    alber859, Feb 12, 2009 IP
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  8. hari001

    hari001 Peon

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    #8
    Hi,

    I am Stella and I don't have any Idea about this. If it's true than I'll try it.


    Stella
     
    hari001, Feb 12, 2009 IP
  9. lorddan01

    lorddan01 Active Member

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    #9
    i;ve recently started using a free demo account, no its true its not a quick process but for me it is a great balance between what i love, making money, currency and the challange of risk. I can see great promise in the actually idea of it as obviously it works for others. I use a 50k account but working on the principle of percentages i would be making about $10 a day which is more than i do now, it's also good saying i'm only using one indicator, elliot wave theory, i love that thing.:p
     
    lorddan01, Feb 12, 2009 IP
  10. godel

    godel Peon

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    #10
    wow $500/day for only 1 hour/day, let's learn forex :D
     
    godel, Feb 12, 2009 IP
  11. Mega B

    Mega B Well-Known Member

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    #11
    I trade cable most days and the s&p500 and individual ftse250 stocks and its all tax free in the UK with CMC.
     
    Mega B, Feb 12, 2009 IP
  12. lorddan01

    lorddan01 Active Member

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    #12
    One thing i do advise is to learn for many months before investing, just because some say they make $500 a day, not that they dont, but you will nearly guaranteed not to.
     
    lorddan01, Feb 13, 2009 IP
  13. Timehacker

    Timehacker Peon

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    #13
    Wow, that's pretty impressive.
     
    Timehacker, Feb 13, 2009 IP
  14. Tehmanice

    Tehmanice Banned

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    #14
    I made only $1000 in a week.. Not worth the time (sleepless nights and sometimes staying up the entire night since I'm down like $3k) and the risk factor in my opinion... I make way more than that sleeping running my CPA offers :)
     
    Tehmanice, Feb 13, 2009 IP
  15. Mega B

    Mega B Well-Known Member

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    #15
    @Tehmanice by using just one thing can cure those major 2 problems you mentioned and that is using the the good old stop loss.My golden rules for any trades that i place is 'trade on stoploss on' trade off stoploss off' its so simple and no one gets every trade right but when you dont get it right it will get you out of that trade with a minimal loss and you sleep well at night and you dont loose your trading pot.
    One thing i will say is when using your stoploss system keep moving it once the trade is in profit as this will lock in your profits and if it does change direction which it can do very very fast in fx you wont go from a profit to a loss.
     
    Mega B, Feb 13, 2009 IP