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Forex is profitable ?

Mohammadi
Sep 17 2018 at 08:15
886 Posts
This volatile trading place is very much complicated for all kinds of traders in particularly for who are newcomers. Newcomers first of all have to observe all market principle which is more appropriate to survive in here in a proper way. They have to emphasis firstly only learning by reading books, Pips school, Forex.com and from much more Forex website. And with this process also should trade in demo account to make sure market movements. But practically mostly don’t believe the importance of demo account at all.

dog123
Sep 17 2018 at 08:18
4 Posts
Trade demo then real don't waste money trying to perfect a way of trading using real money its a perfect way to go broke I know I have done it and if a broker wants to give you a bonus watch out there are conditions attached to it that make nearly impossible to withdraw your money again I have done this and in the end I just made stupid trades thinking that they will not have my money in any way so blew the lot.
 

Beethoven9
Sep 17 2018 at 13:39
8 Posts
If a broker offers a bonus then I avoid them.The really good ones focus on offering good spread, low commission and small slippage. Some bonuses require you to take 1000 trades a month or something like that

Matt (BluePanther)
Sep 18 2018 at 06:53
1355 Posts
fxtactic posted:
Forex is the most profitable business.


No, the MOST PROFITABLE business would be war-mongering like the Military Industrial Complex (MIC) ie. US funding both sides of a war, or drug-smuggling.

Options would be a close second (if you know what you are doing).

But forex is a profitable business nonetheless. The high leverage makes it worthwhile. I don't know how Japan and EU make money now, with leverage capped at 25:1 and 30:1 respectively.

jamesgwyther
Sep 19 2018 at 18:50
289 Posts
Beethoven9 posted:
If a broker offers a bonus then I avoid them.The really good ones focus on offering good spread, low commission and small slippage. Some bonuses require you to take 1000 trades a month or something like that



I totally agree.

AniLorak
Sep 25 2018 at 07:37
920 Posts
Beethoven9 posted:
If a broker offers a bonus then I avoid them.The really good ones focus on offering good spread, low commission and small slippage. Some bonuses require you to take 1000 trades a month or something like that


Good decision, yes I have also noticed; a number of broker offer the bonus with a unrealistic terms & conditions! On the other hand, trading spread is also my 1st priority.

blackRichie
Sep 25 2018 at 08:05
6 Posts
BluePanther posted:
fxtactic posted:
Forex is the most profitable business.


No, the MOST PROFITABLE business would be war-mongering like the Military Industrial Complex (MIC) ie. US funding both sides of a war, or drug-smuggling.

Options would be a close second (if you know what you are doing).

But forex is a profitable business nonetheless. The high leverage makes it worthwhile. I don't know how Japan and EU make money now, with leverage capped at 25:1 and 30:1 respectively.

ha. Nice one. Although I doubt many would want to be involved with the MIC shenanigans. Anyway coming back to forex, I think most people harbor this glamorous notion about forex trading and quick riches. It can be profitable but it is not like you'll step into a pool of money right on your first day (or ever !). But yeah if you have a decent grip on the process of trading and markets you can make good enough money for yourself.

vontogr (togr)
Sep 25 2018 at 08:52
4862 Posts
Forex is not profitable for majority of traders. I am lucky to be one of the few to profit from it.
On the other side the middleman - brokers - make always money on your trades.

Matt (BluePanther)
Sep 25 2018 at 09:33
1355 Posts
blackRichie posted:
ha. Nice one. Although I doubt many would want to be involved with the MIC shenanigans. Anyway coming back to forex, I think most people harbor this glamorous notion about forex trading and quick riches. It can be profitable but it is not like you'll step into a pool of money right on your first day (or ever !). But yeah if you have a decent grip on the process of trading and markets you can make good enough money for yourself.


lol I am glad you appreciated my post. True, most people are sensible and honest and would not get involved, but the ones that are involved did not realise the harm within until they were 'too deep in the rabbit hole' to do much about it. Kudos to the ones that have escaped and spoken out:



Stick to forex: you can lose your shirt, but you won't lose your soul.

Matt (BluePanther)
Sep 25 2018 at 13:50
1355 Posts
blackRichie posted:
... Anyway coming back to forex, I think most people harbor this glamorous notion about forex trading and quick riches. It can be profitable but it is not like you'll step into a pool of money right on your first day (or ever !). But yeah if you have a decent grip on the process of trading and markets you can make good enough money for yourself.


...and this is a very true point you make, as summed up succinctly in the following quote:

'Out of the 241 trades, 16 of them were responsible for ALL of the profit. Most people in this world can't handle it. Yet, it is the only way I have ever seen anyone make money trading. Ever. I was on Wall Street for 23 years. All of the successful fund managers will have long losing streaks, sometimes lasting 6 months to a year. And then... boom! They let their winners run and they wipe out all of their losses. It is how trading works.'
- Mark Shawzin (https://thepatterntrader.com)

My primary account, to prove this point:


Anhänge:


AniLorak
Sep 25 2018 at 14:18
920 Posts
togr posted:
Forex is not profitable for majority of traders. I am lucky to be one of the few to profit from it.
On the other side the middleman - brokers - make always money on your trades.


Yes, a number of Forex traders are unable do so. By the way, nice to know your success! On the other hand, brokers always make money, although it’s not easy job to launch a broker.

AmDiab
Sep 25 2018 at 14:27
718 Posts
TeraPips posted:
Demo is not really a fake account @MellinGainin, it's very helpful to practice for starters. But after short demo practice, I agree that one should open micro account in initial stage if they are interested or willing to.


I think, which traders are not comfortable with the demo they should try for micro account! Whatever, till now demo is the most decent way of Forex learning.

vontogr (togr)
Sep 26 2018 at 07:09
4862 Posts
AmDiab posted:
TeraPips posted:
Demo is not really a fake account @MellinGainin, it's very helpful to practice for starters. But after short demo practice, I agree that one should open micro account in initial stage if they are interested or willing to.


I think, which traders are not comfortable with the demo they should try for micro account! Whatever, till now demo is the most decent way of Forex learning.


Demo is a good way to learn forex.
It is more suitable for algo traders though as emotions trading virtual and demo money are quite different, affecting your trading.

Sublime Markets (sublimemarkets)
Sep 26 2018 at 07:23
27 Posts
of course FX is profitable you just need to know what you are doing!!!

Slow and Steady -- wins the race

SublimeMarkets on Facebook too
Bernard Van Noor (Robert96)
Sep 26 2018 at 10:12
14 Posts
I think forex is profitable for people who are not venturesome. For another it is losing share.
But as vontogr said demo is a good way to learn forex.
I am agree with him. A lot of profitable forex traders started from demo accounts, like me, for example😄

GStoneHoldings (GStoneHoldings)
Sep 28 2018 at 05:44
7 Posts
Hello, Traders!


The answer is absolutely yes! If you have a trading plan, good strategy and use risk management you will made very good return over time! Just be patience.


Best regards,

Balakrishna
Sep 28 2018 at 10:36
10 Posts
I reallu hope you are right. I want to make money from Forex so much. I am going to try learn everything I can to give me best chance

estraub
Oct 01 2018 at 14:50
23 Posts
togr posted:
AmDiab posted:
TeraPips posted:
Demo is not really a fake account @MellinGainin, it's very helpful to practice for starters. But after short demo practice, I agree that one should open micro account in initial stage if they are interested or willing to.


I think, which traders are not comfortable with the demo they should try for micro account! Whatever, till now demo is the most decent way of Forex learning.


Demo is a good way to learn forex.
It is more suitable for algo traders though as emotions trading virtual and demo money are quite different, affecting your trading.


Also, you should make sure the trading conditions (chart movements, leverage and starting balance) are the same on demo as the ones you will use on live. Otherwise it's pointless. You just can't compare >50/1 leverage to the standard 30/1 with the Esma regulations that are now in play.

Mohammadi
Oct 02 2018 at 14:43
886 Posts
Even though so many traders always emphasis on acquiring good trading knowledge but I don’t. Because, according to me despite of having most powerful analyzing trade knowledge that’s not possible at all to lead a healthy trading life with certainly, as a result the broker can affects the result of our trading with certainly. So when choosing a broker we have to be more careful.

yellowman94
Oct 11 2018 at 08:10
41 Posts
Forex is definitely profitable but only if the trader is patient enough with his investments and knows how the market works.

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