Forex is profitable ?
vontogr (togr)
Mitglied seit Feb 22, 2011
4862 Posts
Oct 11, 2018 at 10:59
estraub posted: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.
yes only some brokers have the same conditions
demo <--> real
Oct 11, 2018 at 11:02
I assume it can be profitable but I wonder if you need more information than just the price charts. Bank traders make money trading Forex but they have insider information about what their clients are doing. For regular joes like us using mt4, the process is a lot harder
Mitglied seit Aug 05, 2017
289 Posts
Oct 11, 2018 at 12:05
FastAudi posted:
I assume it can be profitable but I wonder if you need more information than just the price charts. Bank traders make money trading Forex but they have insider information about what their clients are doing. For regular joes like us using mt4, the process is a lot harder
Plenty of regular joes are making consistent money though.
Mitglied seit Oct 10, 2018
2 Posts
Oct 11, 2018 at 14:52
It is profitable. must have knowledge, and if you doesn't, you probably gonna lose.
start with a demo account first before you risk your capital.
start with a demo account first before you risk your capital.
Oct 12, 2018 at 05:54
Adelgrepling posted:Admoni posted:
At present Forex is definitely a profitable business. The first thing as a newcomer you need to do is learn everything you can about the market . then before you get a real account , get a demo account and practice as much as you can so you will get a better idea about the market. You probably should use the demo account for months. However , if you feel like you are ready , then by all means open up a real account.
Although it is also a tool that is ready, you should try the demo. It is always better to play it safe, at least in the forex. There is money and sometimes a lot, at risk.
It can be. However, it is unbelievably difficult to make money with forex trading in the long term. In fact, I do not know any forex trader who managed to transparently earn an annual 20% return over a 10 year period.
One reason for this is that forex trading is actually not an investment, but rather speculation. Buying a stock which pays dividends and also grows in value over time IS an investment. But unfortunately forex pairs do not pay dividends nor interest.
vontogr (togr)
Mitglied seit Feb 22, 2011
4862 Posts
Oct 12, 2018 at 09:54
crabby12 posted:Adelgrepling posted:Admoni posted:
At present Forex is definitely a profitable business. The first thing as a newcomer you need to do is learn everything you can about the market . then before you get a real account , get a demo account and practice as much as you can so you will get a better idea about the market. You probably should use the demo account for months. However , if you feel like you are ready , then by all means open up a real account.
Although it is also a tool that is ready, you should try the demo. It is always better to play it safe, at least in the forex. There is money and sometimes a lot, at risk.
It can be. However, it is unbelievably difficult to make money with forex trading in the long term. In fact, I do not know any forex trader who managed to transparently earn an annual 20% return over a 10 year period.
One reason for this is that forex trading is actually not an investment, but rather speculation. Buying a stock which pays dividends and also grows in value over time IS an investment. But unfortunately forex pairs do not pay dividends nor interest.
Well if you keep forex trading so low profile like stock, I mean not earning 60% a year but rather less than 10 then you can trade safely for years.
Also forex pays its dividend - swaps - on exotic pairs it can bring a lot of joy - or frustration when price move.
It is like walking slowly around city
or running through jungle with leopard in your steps.
Crypto is even more wild...
Oct 14, 2018 at 08:15
As a master place to practice Forex trading in a proper way there is no alternative way to trade demo account. But practically we don’t believe the importance of this trading place especially the beginners. As a result we are becoming loser due to lack of exact market principle.
Oct 14, 2018 at 12:14
I do recommend to open very small account and trade very small amount of money. I mean as smallest size as possible.. it is a lot better then playing with a demo. I do my account 300 GBP and lot size 0.08pence per pip. Potentional loss must not exceed 3%, so if a stop is greater then around 111 pips I ignore the trade... And trade daily chart... no rush, patience... A positive result must come...
I think :)
I think :)
frenkytrading@
Mitglied seit Sep 18, 2018
4 Posts
Oct 15, 2018 at 06:36
if you wanna make it big in FX you need many years of experience and then you can take a small account to a large account
nobody and i mean nobody cares if you trade 100 lots at a time. you aren't going to impact other market participants decisions.
and i make great money trading 3-10 lots at a time. really great.
the open interest on EURUSD is in excess of 10 million lots, probably closer to 50 million lots. nobody knows because of the decentralized nature of OTC fx. so when you add or remove 100 lots from that open interest of millions, literally nobody cares.
nobody and i mean nobody cares if you trade 100 lots at a time. you aren't going to impact other market participants decisions.
and i make great money trading 3-10 lots at a time. really great.
the open interest on EURUSD is in excess of 10 million lots, probably closer to 50 million lots. nobody knows because of the decentralized nature of OTC fx. so when you add or remove 100 lots from that open interest of millions, literally nobody cares.
Mitglied seit Sep 18, 2018
4 Posts
Oct 15, 2018 at 06:41
crabby12 posted:Adelgrepling posted:Admoni posted:
At present Forex is definitely a profitable business. The first thing as a newcomer you need to do is learn everything you can about the market . then before you get a real account , get a demo account and practice as much as you can so you will get a better idea about the market. You probably should use the demo account for months. However , if you feel like you are ready , then by all means open up a real account.
Although it is also a tool that is ready, you should try the demo. It is always better to play it safe, at least in the forex. There is money and sometimes a lot, at risk.
It can be. However, it is unbelievably difficult to make money with forex trading in the long term. In fact, I do not know any forex trader who managed to transparently earn an annual 20% return over a 10 year period.
One reason for this is that forex trading is actually not an investment, but rather speculation. Buying a stock which pays dividends and also grows in value over time IS an investment. But unfortunately forex pairs do not pay dividends nor interest.
the reason you don't know anyone who does this is because people who do this actually don't care about impressing random people they meet online. they moved into wealth management most likely.
many people have taken $5000 to half a million in a year or less. Some in a month or less. the key is that $5000 is not important to the trader. they could lose it and not care, and anything beyond that (house money) they can definitely lose and not care. that is absolutely the key, detachment from outcome.
Mitglied seit Sep 18, 2018
4 Posts
Oct 15, 2018 at 06:42
managing millions, 100-200 basis points is a massive week. massive. 50 basis points is a fantastic week. 20 basis points would be acceptable for beating the S&P each year (with much less risk than you would carry by owning the entire stock market.... we manuever in and out of positions... we don't hold through 10-20% or 50% drops)....
whereas the average retail trader sees 1-2% weekly gain as not even enough to pay their bills (and they would be right, unless trading with $50,000+).
whereas the average retail trader sees 1-2% weekly gain as not even enough to pay their bills (and they would be right, unless trading with $50,000+).
Mitglied seit Sep 18, 2018
4 Posts
Oct 15, 2018 at 06:46
sorry im really sick of this idea that profitable traders dont exist simply because they dont use myfxbook as their verification tool for their track record.
i was once pessimistic about FX trading too. until i realized how large the open interest is, nobody cares even if you trade 100 lot. if nobody cares if you trade 100 lot then trading at a level of 1-10 lots (enough to make a living) is also reasonable.
i was once pessimistic about FX trading too. until i realized how large the open interest is, nobody cares even if you trade 100 lot. if nobody cares if you trade 100 lot then trading at a level of 1-10 lots (enough to make a living) is also reasonable.
Mitglied seit May 18, 2015
118 Posts
Oct 15, 2018 at 08:57
jpazholdings posted:
sorry im really sick of this idea that profitable traders dont exist simply because they dont use myfxbook as their verification tool for their track record.
i was once pessimistic about FX trading too. until i realized how large the open interest is, nobody cares even if you trade 100 lot. if nobody cares if you trade 100 lot then trading at a level of 1-10 lots (enough to make a living) is also reasonable.
450 usd sell right before close and look at where the trade opened up for him.
My avatar explains "social trading" perfectly.
vontogr (togr)
Mitglied seit Feb 22, 2011
4862 Posts
Oct 15, 2018 at 12:01
jpazholdings posted:
sorry im really sick of this idea that profitable traders dont exist simply because they dont use myfxbook as their verification tool for their track record.
i was once pessimistic about FX trading too. until i realized how large the open interest is, nobody cares even if you trade 100 lot. if nobody cares if you trade 100 lot then trading at a level of 1-10 lots (enough to make a living) is also reasonable.
Why shouldn't be profitable traders here on MFB?
Check my profile - there are several ways to profit on Forex.
Mitglied seit Aug 05, 2017
289 Posts
Oct 15, 2018 at 12:15
There are definitely profitable traders on here and 100% profitable traders out there.
Oct 16, 2018 at 06:05
We can start Forex in a proper way, if we want to be a professional. Babypips School is the first choice of learning and besides this demo account must which is mainly considered the foremost place to acquire real basic knowledge which is very supportive to kick off a live account in a proper way.
Mitglied seit Oct 09, 2018
41 Posts
Oct 17, 2018 at 07:14
Sevinj posted:Agreed
babypips is so good for newbie. everything is so simply explained. I am not sure if it can really give you everything to be profitable but is a great start
Mitglied seit Aug 05, 2017
289 Posts
Oct 18, 2018 at 08:34
Sevinj posted:
babypips is so good for newbie. everything is so simply explained. I am not sure if it can really give you everything to be profitable but is a great start
Probably the best place to learn the basics as it is free and no pressure therefore to start making money.
