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Can forex trading make you rich ?

William82 (William82)
Sep 21 2015 at 13:40
50 posts
I left my full time job a few year ago, all thanks to forex trading. ;)

Let's get down Forex Black Market, expose fake Expert Advisors!
snapdragon1970 (snapdragon1970)
Sep 22 2015 at 21:17
1944 posts
FxMasterGuru posted:
@peter977

Agree, Peter. Those successful individual traders - the '5%' - just don't come here to MyFxBook...

Why...? Because they simply don't need clients and attention...


I have seen both sides,its not a pretty sight believe me,investing clients money is a mind field,great for the broker,I have been asked by people to invest for them but i refused because i want to sleep at night.I make a steady income on my own account and it didn't take years ,you just need the right training and some experience of working in a financial trading company.I know for a fact that professionals do check certain web sites for bias.

"They mistook leverage with genius".
snapdragon1970 (snapdragon1970)
Sep 22 2015 at 21:17
1944 posts
William82 posted:
I left my full time job a few year ago, all thanks to forex trading. ;)



I like your Quote!

"They mistook leverage with genius".
dannbb
Sep 26 2015 at 15:41
5 posts
William82 posted:
I left my full time job a few year ago, all thanks to forex trading. ;)


i wish i can do that, but it is so boring staring at chart all the time

one shot one kill
snapdragon1970 (snapdragon1970)
Sep 27 2015 at 05:56
1944 posts
I spend little time looking at a screen ,unless im scalping,most of my time im doing research on a stock,forex or waiting for a news event.
I watch the open ,crossovers and 11.30am,14.30 ,16.30,18.00-19.00.
I wait for the trade to come to me,if it dont meet the levels I want I wait until it does,set an alert.

be lucky.

"They mistook leverage with genius".
lastpiponearth
Sep 27 2015 at 21:24
37 posts
Yes it can. The first thing you have to accept is that you can and you will lose money. Don't try to save a losing trade. Just cut if and go. Study why it was a bad trade.

Then focus on next trade. If it is in profit good but don't try to squeeze all that you can out of it. Set a limit on how much you should get.

Never get excited trading the markets. That's the biggest mistake you can make. This is so because it leads to over trading.

Just keep on trading until you no longer feel any emotion but rather logic. Accept also the fact that your technical analysis will not work all the time. Just make sure your wins because of technicals is bigger than your losses due to fundamentals.

JOJANUAE (JOJANUAE)
Sep 28 2015 at 09:02
1 posts

This is the new strategies - wait for the trade to come to me,if it dont meet the levels I want I wait until it does,set an alert
good thinking and many people follow this idea.

snapdragon1970 (snapdragon1970)
Sep 28 2015 at 09:05
1944 posts
You will probly never know why it was a bad trade,there are to many possibilities as to why,you cant always be right.Its ok to have a set target like 2:1 or 3:1 or above,but be aware of how much the price moves from its average,say 50 pips.Obviously if its a strong trend don't set a limit.If you can add to a winning trade it makes a considerable difference.

 

"They mistook leverage with genius".
CrazyTrader (CrazyTrader)
Sep 28 2015 at 09:09
1718 posts
snapdragon1970 posted:
You will probly never know why it was a bad trade,there are to many possibilities as to why,you cant always be right.Its ok to have a set target like 2:1 or 3:1 or above,but be aware of how much the price moves from its average,say 50 pips.Obviously if its a strong trend don't set a limit.If you can add to a winning trade it makes a considerable difference.

 


GBPUSD right now can be a good opportunity to build long... or not !

Good luck

William82 (William82)
Sep 28 2015 at 16:16
50 posts
dannbb posted:
William82 posted:
I left my full time job a few year ago, all thanks to forex trading. ;)


i wish i can do that, but it is so boring staring at chart all the time


Not at all.
I am traveling almost all the time. It takes me only a few hours per day to check charts.
I can call myself as swing trader, and also i have invested money into a few stable EA systems, it brings me constant profit..

No secrets or miracles, just take a time to analyse or develop some trading system and start trading.

Best Regards,
William

Let's get down Forex Black Market, expose fake Expert Advisors!
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