Forex is profitable ?

Nov 10, 2017 at 11:03
Przeglądane 15,821
406 Replies
Uczestnik z Oct 09, 2017   23 postów
Sep 04, 2018 at 08:21
KurtSung posted:

Please note that withdrawing money is also a method to avoid risk.

I heard there are some brokers would function normally at the beginning. Later, the problems would come out one after another, even they would try to hinder you from withdrawing. So it becomes that you earn money but you can't take it

This is called a Bucketshop broker. You go in, you fund your account. Start winning and then they do not let you withdraw.

A few things that might be a sign that a broker is a bucketshop and you should look for:

1. High leverage
2. Regulated on some place like - Vanuatu, St. Vincent and the Grenadines, etc (off-shore areas or islands with no real regulation).
3. Bonus schemes - (no deposit bonus, bonus on deposit, bonus for account opening etc) These deposits are put there so that you have to overtrade to get your money, OR that when you start winning they will not allow you to withdraw because you have been given a bonus.
Uczestnik z Aug 11, 2017   886 postów
Sep 04, 2018 at 08:38
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.
Uczestnik z Dec 31, 2017   5 postów
Sep 07, 2018 at 05:19
Why demo (fake) account when you can use micro (REAL) account?
Uczestnik z Sep 03, 2018   19 postów
Sep 07, 2018 at 05:35
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.
Uczestnik z Aug 10, 2012   63 postów
Sep 07, 2018 at 09:56
Demo account is necessary to test trading stratégy

and after only you can trade live account

and you can compare demo and live
Uczestnik z Dec 31, 2017   5 postów
Sep 17, 2018 at 07:52
What I meant is that people know Demo uses fake money, in addition seems to perfectly catch any stops.
Micro account is REAL, needs REAL money -even if a little sum- and can exceptionally miss stops.
This will be a much real trade for those willing to approach the Forex world.
You know there're many Kings of Trade in Demo becoming ordinary losers in real!
Uczestnik z Aug 11, 2017   886 postów
Sep 17, 2018 at 08:15
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.
Uczestnik z Sep 17, 2018   4 postów
Sep 17, 2018 at 08:18
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.
 
Uczestnik z Sep 10, 2018   8 postów
Sep 17, 2018 at 13:39
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
Uczestnik z Jan 25, 2010   1360 postów
Sep 18, 2018 at 06:53
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.
Uczestnik z Apr 18, 2017   920 postów
Sep 25, 2018 at 07:37
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.
Uczestnik z Sep 06, 2018   6 postów
Sep 25, 2018 at 08:05
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.
Uczestnik z Feb 22, 2011   4862 postów
Sep 25, 2018 at 08:52
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.
Uczestnik z Jan 25, 2010   1360 postów
Sep 25, 2018 at 09:33
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.
Uczestnik z Jan 25, 2010   1360 postów
Sep 25, 2018 at 13:50
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:


Załączniki:

Uczestnik z Apr 18, 2017   920 postów
Sep 25, 2018 at 14:18
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.
Uczestnik z Apr 18, 2017   718 postów
Sep 25, 2018 at 14:27
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.
Uczestnik z Feb 22, 2011   4862 postów
Sep 26, 2018 at 07:09
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.
Uczestnik z Sep 19, 2018   27 postów
Sep 26, 2018 at 07:23
of course FX is profitable you just need to know what you are doing!!!

Slow and Steady -- wins the race
SublimeMarkets on Facebook too
Uczestnik z Sep 25, 2018   7 postów
Sep 28, 2018 at 05:44
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,
Trading, Golf
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