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psp7292
Do you think you can turn $200 into $400 in six weeks?
in
New Traders
Oct 18, 2012 at 21:16
To double a small account is relatively easy and doesn't take very long because the trader doesn't feel like he's risking a lot with each trade. However, to double a $10,000 account would be harder and take longer. So, more credit should be given to a trader who has doubled a bigger account.
Forex Mentors and Teachers?
in
New Traders
Oct 04, 2012 at 07:00
Every novice trader definitely needs to educate himself as much as possible in forex trading. But at the same time, he doesn't need to come up with an overly complicated strategy just because he knows a lot. More often than not, it's the simple strategies that work. While it's helpful to know all the technical jargon and an array of strategies, try not to get caught up in them. Try to keep it simple. As long as you can come up with a time-proven strategy that wins more than half the time, and as long as you exercise discipline and patience to execute it correctly, you will be profi...
Not looking for a secret magic pill for success; looking for steady progress.
in
New Traders
Oct 03, 2012 at 07:10
I've been trading for 9 months now, and in the beginning I never saw consistent profits, either. The typical pattern was that I would be profitable in over 90% of my trades gaining a few pips at a time, and then I would lose one big position and wipe out all my previous gains. This pattern continued until I realized I wasn't paying much attention to the reward-to-risk ratio. The reward-to-risk ratio (the ratio of the pip gain from a win and the pip loss from a loss) must be at least 1:1. Mine was way below that; I used to close positions after gaining only 2 or 3 pips, and when I had a...
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