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Can forex trading make you rich ?

vontogr (togr)
Nov 26 2018 at 14:08
4862 postów
Adribaasmet posted:
Imamul posted:
In this trading place first of all we the traders have to ensure the proper trading knowledge. And for that we have to emphasis on demo trading which is the foremost place to become a knowledgeable trader very rapidly . but practically we the traders in particularly the newcomers don’t believe the importance of this trading place at all. As a result almost 90% traders are loser from here due to lack of exact trading knowledge.


Yes mate, more than 90% traders are unable to make money! But, I see a number of new traders lose their money because they go for live trading when they are not sure on their own trading skill.


You should have good results trading demo before investing first penny.

eabrams
Nov 27 2018 at 07:33
6 postów
I agree. It's extremely inadvisable to invest any money in a real account before you are able to profit on a demo one at least.

AniLorak
Nov 27 2018 at 08:10
920 postów
togr posted:
Adribaasmet posted:
Imamul posted:
In this trading place first of all we the traders have to ensure the proper trading knowledge. And for that we have to emphasis on demo trading which is the foremost place to become a knowledgeable trader very rapidly . but practically we the traders in particularly the newcomers don’t believe the importance of this trading place at all. As a result almost 90% traders are loser from here due to lack of exact trading knowledge.


Yes mate, more than 90% traders are unable to make money! But, I see a number of new traders lose their money because they go for live trading when they are not sure on their own trading skill.


You should have good results trading demo before investing first penny.


That’s the procedure! Newbie’s should confirm their trading skill before investing their real money; otherwise, it’s very possible to face MC.

Matt (BluePanther)
Dec 05 2018 at 11:19
1354 postów
L3CAP posted:
Nice work Matt!!! Great trading and like your style :)


togr posted:
A lot of BLESSING, thought I thought it wont work :)


Thank you for your support.

Anyone can succeed:
- Use higher timeframes (4H, Daily, Weekly, Monthly);
- Catch the market at long-term S/R levels;
- Use Fibonacci as a guide;
- Only trade when market is moving in Swap-positive direction (earn Swaps);
- Hold positions for days, weeks, or longer (less trading is more profit);
- HAVE PATIENCE!

ChristianBeach
Dec 06 2018 at 11:11
12 postów
Great tips. How do you use fibonacci? I have tride many times but can never get it to be useful.

Matt (BluePanther)
Dec 06 2018 at 15:41
1354 postów
ChristianBeach posted:
Great tips. How do you use fibonacci? I have tride many times but can never get it to be useful.


https://www.investopedia.com/articles/active-trading/091114/strategies-trading-fibonacci-retracements.asp
https://www.investopedia.com/terms/f/fibonacciretracement.asp

The above explains it much better than I ever could.
And practise is required.

Jingyi
Dec 09 2018 at 07:16
8 postów
Are fibs just away to make sure you are entering at a 'good price' rather than entering after a shallow pull back or trying to chase the market

Matt (BluePanther)
Dec 09 2018 at 08:22
1354 postów
Can forex trading make you rich? Yes.
Next question is 'how'?

10% luck
20% skill
15% concentrated power of will
5% pleasure
50% pain
100% reason to remember the name (of the game)


Fort Minor

The name (of the game) is your REASON to become rich ie. why do you want it?
You must have a REASON: to drive you, to motivate you, to survive your certain defeats.

“If you don't know where you are going any road can take you there”
― Lewis Carroll, Alice in Wonderland

Matt (BluePanther)
Dec 09 2018 at 08:23
1354 postów
BluePanther posted:
L3CAP posted:
Nice work Matt!!! Great trading and like your style :)


togr posted:
A lot of BLESSING, thought I thought it wont work :)


lol wha? Where did my $11M Portfolio screenshot go?
I try to prove a point by answering this thread with my example, and yet my post gets pulled!
Is it a jealous person reporting my posts, or is it bullying by myfxbook moderators?

No notification to explain why I was censored (for the umpteenth time again).

This just goes to show why 'successful' people don't post on forums: the psyche of 'normal' people cannot accept it. Their posts will be reported and/or removed. They 'don't exist' on public forums.

Price of success.

Matt (BluePanther)
Dec 09 2018 at 14:37
1354 postów
Jingyi posted:
Are fibs just away to make sure you are entering at a 'good price' rather than entering after a shallow pull back or trying to chase the market


Let me explain using EURTRY as an example: I caught the downtrend halfway, and exited early (missed some profits).
But after drawing the Fibonacci to match the high / low of the huge spike to 8.00 and its immediate correction, I realised EURTRY was on trajectory to reach 100% Fib retracement. I did consider other factors, especially the fundamentals of EUR and TRY.

The screenshot is a simple illustration, you would get a better idea using professional charts.



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