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Can forex trading make you rich ?

togr (togr)
Apr 20 2018 at 07:21
4862 posts
mlawson71 posted:
NoahMartin posted:
Generally the answer is big NO.
Only rich in knowledge, effort, dedication, passion in forex trading can make you rich.


The alternative is to be a executive at a big broker, that can also make you rich. :D


Good idea :)

snapdragon1970 (snapdragon1970)
Apr 20 2018 at 11:57
1944 posts

"They mistook leverage with genius".
BluePanther (BluePanther)
Apr 20 2018 at 13:40
1353 posts
snapdragon1970 posted:




#1 CHOOSE THE RIGHT BROKER
Do not use a Market Maker broker as Anton talks about in that video.
Choose an ECN / STP broker: https://www.luckscout.com/the-difference-of-true-and-false-ecnstp-brokers/


tigerr
Apr 20 2018 at 17:23
2 posts
Man what the heck are you guys doing... don't go blowing up your accounts like that. Ok newbies, seriously, just get yourself some time and get a grid hero or rhino or evonight, and don't overkill the risk while you're at it either. IC Markets is freaking good for range markets trading, take advantage of it. And get a birt TDS2 or tickstory and quantanalyzer, you will need the damn 99.90% tick data, so many of you are testing your strategies on 90% tick data or 25% tick data and wondering why your strategies don't work on live, #LOL? These data only work on certain brokers under certain conditions and apply to certain strategies, and I'm not free to elaborate on that. If you know python, R, neural networks and machine learning, all the more better, you will learn faster than 90% of the noobs here. Just pay for them, it will save you a ton. If you guys are entering the markets without a damn strategy, yes you will lose all your money and you will be wondering why and crying like mad.

Jesus von, help educate these noobs man, so many of them are like chickens at a slaughterhouse.

NoahMartin
Apr 20 2018 at 17:25
17 posts
mlawson71 posted:
The alternative is to be a executive at a big broker, that can also make you rich. :D


Yeah. You got that right. One need to take care of charges and services when choosing the broker. It can make them convenient or broke.

snapdragon1970 (snapdragon1970)
Apr 20 2018 at 18:03
1944 posts
BluePanther posted:
snapdragon1970 posted:




#1 CHOOSE THE RIGHT BROKER
Do not use a Market Maker broker as Anton talks about in that video.
Choose an ECN / STP broker: https://www.luckscout.com/the-difference-of-true-and-false-ecnstp-brokers/



I think he's referring to his own business model were the IB agreement favors members that trade the house money or their own with monthly credits, as for the individual ECN/STP is better.

"They mistook leverage with genius".
Nasrul
nasrul_poyo
Apr 21 2018 at 12:11
124 posts
Sincerely, i have trading more than 5 yeara, and i still not achieve financial freedom. And now, i think i'm the right way to achieve it. Believe me, to become successful trader, it is based on your hardwork to it. Don't ever think you will be rich with others people style. Every trader have different style. Just do based on your style and struggle for it. Knowledge? Learn from basic and trade based on that basic. Don't ever think you will be rich in a short time period. It really takes time unless you have big money to start with.

DPG1968
Apr 21 2018 at 12:17
24 posts
😁
tigerr posted:

Jesus von, help educate these noobs man, so many of them are like chickens at a slaughterhouse.


Who's 'Jesus von' mate? 😁

AniLorak
Apr 22 2018 at 06:07
920 posts
NoahMartin posted:
mlawson71 posted:
The alternative is to be a executive at a big broker, that can also make you rich. :D


Yeah. You got that right. One need to take care of charges and services when choosing the broker. It can make them convenient or broke.


Yes, broker is an important issue here; but till now trading skill is much important and incomparable.

BluePanther (BluePanther)
Apr 23 2018 at 03:19
1353 posts
AniLorak posted:
Yes, broker is an important issue here; but till now trading skill is much important and incomparable.


It doesn't matter how successful you are as a trader: you could be a 'George Soros trading prodigy' but if you use a Market Maker broker you will never win in the end. A Market Maker is a casino: you won't prevail against the house; the odds will always be stacked against you.

Choosing a broker with a transparent business model (ECN/STP) and in a well-regulated country is IMPERATIVE to level the playing field. Trading is a constant battle with the market - you don't need a broker that actively works against you also.

#1 Choose the right broker.
#2 Trade well.

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