I have a love hate relationship with FOREX. I used the windows platform off of forex.com. I ended up losing $317 altogether on FOREX. A lot of people would say that isn't so bad, but I am a student in university so when you are already broke and not a lot of money to begin with it kind of sucks. It seems for me to be hard to make money, although I had some good trades but super easy to lose the money. I would really honestly like to learn a way to trade FOREX successfully. I am not looking to get rich quick or hell even get rich. I just want steady income to pay expenses like gas to school and for insurance and such.
He trades in H1 (one hour time frames) These periods are centuries to me.LOL. FOREX.COM has very bad critics.You will need a capital among 5k-10k to trade forex and make a respectable outcome.The practice money is 1k-2k trading 0.1 minilots. Today EURUSD was moving all night long. It made some final effords to go up from Frankfurt to London and then collapsed. MACD Divergence appeared in M30. Made about 30 trades. Then I cought the retracment too So I close the platform for today B
Carefully choose your ECN broker. Run to the hills from bucket shops.You will loose your money. Dont trust your hard earned money to managers. Learn to "fish" and fish for ever .It will take time and money but it worths the effort.
And i earn money online by promoting forex without directly involving in Forex trading through Referforex.com. Regards
It depends if you are made from boss or servant material. If you dont trade, make your own product and promote .Don't make other people's lists. My 2 cents
I think one thing that comes to mind with what you said. 'Never risk money you can't afford to lose' It is possible to make decent money with forex, the problem is when you are so attached to the money that you base your decisions more on emotions. Also you need decent money management methods to protect your balance. I use to trade Forex Digital Options (exotic and binary) and used a modified version of the turtle trading system. I back tested the system over 5 years of previous data and then traded it for around a year. I made decent money but the site kept changing the way things work making it more and more difficult, so I quit while I was ahead. I recommend visiting trade2win.com, its a great trading community which covers pretty much every area. Just be aware that there are more scammers in trading than in domaining so you have to becareful and always question why someone wants to give you there winning secret for next to nothing.
The sure thing in forex is that you cant win every day. The point is to know when to stop and admit a bad day before you make a bigger damage than a day or two of profits. Done well in Frakfurt but I wanted more. Caught up in ranging and finally lost . Made a lot of errors today .Hope I will not repeat them in the future. I must work harder in psycological issues,greed etc.
That one last trade on a good day can be a killer. I had been having a really good week trading, was pretty much done for the week having made around $1600 profit. Saw a last minute opportunity to make a few extra dollars. Took too much risk and lost $800 within 2 minutes. It was a valuable lesson, and although I made the money back the following week. I remember at the time feeling a little sick and very stupid.
To take the morning profit and close ther platform mate. I am profitable 99% in the first trades.Take the money and run.
I am a 4 years forex trader and can tell you for sure 95% of retail traders lose in forex , so dont believe those advertisements , if any one has a good system doesn't sell it for a cheap price , it worths a lot so I suggest you to look somewhere else and keep your money in banks , the risk involved doesnt worth the reward just my 2 cents.
Hi, this is not a true statement about the stock market. You can make money shorting stock if you can predict that a stock is going to fall. So you can make money in both bull or bear market if you know the direction of a stock or else no one would trading during a bear market.
That is correct 100%. The currencies have the advandage of instant liquidation. Tax free in most countries........... You just have to fight greed and discipline............