Can forex trading make you rich ?
Mitglied seit Jan 25, 2010
1360 Posts
Apr 20, 2018 at 13:40
(bearbeitet Apr 20, 2018 at 13:44)
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/
Apr 20, 2018 at 17:23
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.
Jesus von, help educate these noobs man, so many of them are like chickens at a slaughterhouse.
Mitglied seit Apr 18, 2018
17 Posts
Apr 20, 2018 at 17:25
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.
Mitglied seit Sep 12, 2015
1948 Posts
Apr 20, 2018 at 18:03
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".
forex_trader_458816
Mitglied seit Sep 11, 2017
124 Posts
Apr 21, 2018 at 12:11
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.
forex_trader_480717
Mitglied seit Dec 07, 2017
24 Posts
Apr 21, 2018 at 12:17
😁
Who's 'Jesus von' mate? 😁
tigerr posted:
Jesus von, help educate these noobs man, so many of them are like chickens at a slaughterhouse.
Who's 'Jesus von' mate? 😁
Apr 22, 2018 at 06:07
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.
Mitglied seit Jan 25, 2010
1360 Posts
Apr 23, 2018 at 03:19
(bearbeitet Apr 23, 2018 at 03:21)
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.
Mitglied seit Feb 22, 2011
4862 Posts
Apr 23, 2018 at 06:57
BluePanther posted: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.
well said
May 02, 2018 at 05:40
In Forex , Trading in style of gambling is much dangerous where trader not plans what he should do he does trading for sake of do or die. It is not good way of trading. it can be managed with different ways if you want , but gambling is a way to loss.
Mitglied seit Feb 22, 2011
4862 Posts
May 03, 2018 at 14:35
BaldoN posted:TiffanyK posted:mlawson71 posted:Hahaha Exaclty !
The alternative is to be a executive at a big broker, that can also make you rich. :D
or a share holder :)
Share holder do not make as much money as good forex trader.
Mitglied seit Oct 28, 2015
51 Posts
May 04, 2018 at 12:21
Elitefxsniper posted:well put there is no shortcut to success anywhere except maybe winning the lottery
It was fun to read all these posts ...
You're all crying, how hard ...
But what's easy? Is it easy to win the Olympic Games ?
...Success in any field is always difficult.
STOP CRYING !
JUST DO IT )))
Prayer is the True Power that controls the World.
Mitglied seit Oct 28, 2015
51 Posts
May 06, 2018 at 05:55
BluePanther posted:i can attest to this almost clocking my 10th year and still i have nothing to show for my effort what a bammer. I hate forex and love it at the same time.DPG1968 posted:
Freedom can make you rich. Love can make you richer. As about FX? It can make you wealthy, yes.
You truly have words of wisdom.
I have wasted ten years chasing forex 'riches' and still have nothing.
I would have true riches by helping my fellow human. Real personal satisfaction.
I only have loneliness to show for all my efforts.
But enough sympathy-pains: surely I will get materially rich soon and then I can have the satisfaction of helping others...?
Am I deluding myself?
Prayer is the True Power that controls the World.
Mitglied seit Oct 28, 2015
51 Posts
May 06, 2018 at 05:55
AniLorak posted:i alson noticed this thats why i steer of EAs.Pikasso posted:Have you ever seen any successful trader with the automatic trading system? I’m asking because, I see all of successful Forex traders trade manually!
forex can make you rich if you will trade systmatically with low risks and it is better if your trading system is automated. It will exclude human factor to break the rules.
Prayer is the True Power that controls the World.
Mitglied seit Oct 28, 2015
51 Posts
May 06, 2018 at 05:55
livegood3 posted:i cant wait for the day i will be closing such a position in a day,. though am confident it will be very soon
I earn over $6600 today with larger volume trades on GBPUSD, Im not rich but hey, it pays a heck of a lot more pay then my day job
Prayer is the True Power that controls the World.
Mitglied seit Feb 22, 2011
4862 Posts
May 06, 2018 at 06:11
Orangotang posted:Elitefxsniper posted:well put there is no shortcut to success anywhere except maybe winning the lottery
It was fun to read all these posts ...
You're all crying, how hard ...
But what's easy? Is it easy to win the Olympic Games ?
...Success in any field is always difficult.
STOP CRYING !
JUST DO IT )))
Winning lottery usually require a lot of time and money:)
May 14, 2018 at 06:50
It can but it's not easy as what you are thinking. You're asking like the level of 'Can you throw me that iPhone X?'. And if I catch, it belongs to me, and if I fail, I'll pay you.
You must have skill in catching, but it's not only hands (trading) that are involved, you have foots to run quickly (catching the live news, technical skills and good strategy) to where the phone is reaching from the air. You have to keep watching to catch it. Otherwise, lucky chance is that that phone was fallen to your shirt pocket. hehe
I know it's not accurate figurative, but 70% enough I can say. 😀
You must have skill in catching, but it's not only hands (trading) that are involved, you have foots to run quickly (catching the live news, technical skills and good strategy) to where the phone is reaching from the air. You have to keep watching to catch it. Otherwise, lucky chance is that that phone was fallen to your shirt pocket. hehe
I know it's not accurate figurative, but 70% enough I can say. 😀
