Define 'rich'. If a person, whom makes 10k a year, all of a sudden has 48k in his forex account. He would consider himself rich. That simple fact might even influence the way he trades. I say no matter the size or % profit, keep the money management the same. Today, I could have loaded more orders in but I remember the times I popped the account by 2 pips when the stop loss from the start was to be 55. Ladies and gents you have to control you and simply understand that YOU don't influence the market. The market trades in patterns because it is algo based. Always account for variations (martingale) and you will ALWAYS end up with green days. I have popped many, but all my losses have been recovered with what I have done as of late and once my goal is reached, I will withdraw and spend all of it! It's money I should even have right! :) I think i can withdraw and get me a Telsa :)
Forex trading may seem very simple for the beginners. Actually it is really simple and you can quickly learn how to open a trading position and how to close it. The most difficult part is to open a trading position in a right moment and close it with profit. Forex is a really difficult business. To make money with forex, you have to know the technique and have enough experience or you lose more than what you make. Here's a little background about Forex https://www.itrader.com/en/page/forex
And I think people vastly underestimate the amount of effort and determination it takes to do this. You really need to be obsessive about it, almost to the exclusion of anything else.
I've spent at least a decade on this. And thousands and thousands of dollars in servers, coding courses etc. I actually had to develope an entire skill set which doesn't even have anything to do with trading, but rather to handle the computers like I need to be able to.
It's only now, many years and thousands of dollars later, that I get to the point where I can go sleep at night and most likely wake up with more bucks in the morning.
The cost to me has been so high, mostly in time, that it's almost not worth it. The only way I can ever get my time back is if I can take the rest of my life off and not ever have to do another days work, which is very likely still another two or three years away.
Patrick1981 posted: A smart guy will know how to avoid being greedy
he shouldGive it a break will you!! Any time you start saying woulda, coulda, shoulda, you are just thinking in past tense and no one can trade that way. You are in the now or you are not going to be trading long.@!!!!! but it does not always happen
Give it a break will you!! Any time you start saying woulda, coulda, shoulda, you are just thinking in past tense and no one can trade that way. You are in the now or you are not going to be trading long.@!!!!!
AVERTISSEMENT SUR LE RISQUE ÉLEVÉ : Le trading de devises comporte un niveau de risque élevé qui peut ne pas convenir à tous les investisseurs.
Leffet de levier crée un risque supplémentaire et une exposition aux pertes. Avant de décider de négocier des devises, examinez attentivement vos objectifs dinvestissement, votre niveau dexpérience et votre tolérance au risque.
Vous pourriez perdre une partie ou la totalité de votre investissement initial. Ninvestissez pas largent que vous ne pouvez pas vous permettre de perdre. Renseignez-vous sur les risques associés au trading de devises et demandez conseil à un conseiller financier ou fiscal indépendant si vous avez des questions.
Toutes les données et informations sont fournies "en létat", uniquement à titre dinformation, et ne sont pas destinées à des fins de trading ou de recommandation.
Les performances passées ne sont pas indicatives des résultats futurs.