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profits in forex trading

ForexReverse (FedericoLin)
Jul 16 at 10:31
19 posts
ZXSPECTRUMQBASIC posted:
Hey!
There will be consistent profits when you trade moderately with little risk.


I think the fundamental thing is to have a strategy that can work for you, risk management is fine but strategy with psychology are fundamental

Experience is the hardest teacher because she gives the test first, the lesson afterward.
mab8
Jul 16 at 12:07
40 posts
UweMoench posted:
Trading forex is complex and requires a level of patience that is off the charts if you want to be extremely successful. When you first start trading, the amount of patience required is beyond most people's understanding. You can't gain that level of patience unless you have experience. You can have all the trading talent in the world, but w/o experience you are at a disadvantage to a more experienced trader.


At first it may seem hard and you may not be sure what is going on and if you are in the right. However over time you will be able to gain experience and learn. The more you trade and the more you read and research, the better you will get. Patience, as others said is important. And so is a willingness to learn and keep working to better understand the market, trends, and also evaluate risks wisely.

UweMoench
Jul 31 at 11:23
547 posts
Making profit in forex trading is not an easy job. It is one of the difficult jobs in the world. It is easy to make some profitable trades here and there. But consistency is not easy.

oshaban (oshaban)
Aug 01 at 17:25
189 posts
You are right to some point.
Greed, fear, lack of knowledge, broker issues, knowing your broker terms like margin and equity, market conditions, understand the currency pair your are trading, ... etc...
all these are playing in your side or against you sometimes.
The bottom line, you need to build an experience in trading and knowing every thing about your broker and account.

for example, please look to this account ...
I didn't reached this profit easily. First of all, I picked the tight Gold spread broker, highest leverage, but leverage drop down if exceed than $5000. So, once I reach something about $4500 I withdraw about $1500 to let trade with minimum equity for this account type.
Keep an eye most of the time on the expert advisor because the broker reduce the leverage before RED news by 15 minutes and back to normal after 15 minutes,
Also, leverage is reduced to 1:200 at the last 3 hours before market close then back after 2 hours of the market open.
You need to know about Gold. When it is more active and good for scalping, and when it is inactive to have a rest.
I accumulate the profit in new account(s) ... Once a new account has an equity of $3000 or more, I start trading on it by using local signal copier (EA). So, at this time, the profit is multiplied by 2, then later by 3 then 4 and so on.

Having such ideas to make your work go in parallel with the broker requirements and knowing how to trade is the best guarantee to make profit for the long run ...

Good luck to all...

... oshaban ... skype: oshaban27 ...
Imamul
Aug 02 at 08:43
615 posts
In Fx trading, learning is not easy despite of having too many sources including pips school, learning sometimes boning and usually new traders get tempts to start trading without enough knowledge and become fascinated with the way of trading live which may cause laziness and trapped by wishful thinking get rich quickly scheme

Tradelist45
Aug 02 at 09:10
144 posts
profit in Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.

AndrewMcCalam54
Aug 02 at 09:51
33 posts
profit is a tough game in Forex trading , for that traders should make sure good knowledge with a reliable support from a credible trading broker.

Imamul
Aug 03 at 08:44
615 posts
The traders who are particularly newcomer can lern Fx from lots of sources that available right now. But in order to my trading experience I think Pips school is more appropriate which always all important trading tips with essential terms and condition which is really supportive for the newbie.

Reece Rispoli (reece22)
Aug 03 at 11:26
28 posts
there are tons of free content out there to help start your journey but mentors are there for a reason, to help you each day with knowledge.

Akasuki
Aug 03 at 16:23
248 posts
@reece22 Yes mentor can be play an important but finding a good and reliable mentor is not an easy. Many people claim themselves to be mentor.

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