Aug 29 2018 at 07:01
Smart people know how to make everything profitable, be it forex trading or anything else!😎
Forex is profitable but not for everyone. Majority of traders suffer huge losses in forex.
Aug 29 2018 at 10:45
Forex is profitable for those who are passionate in trading and they indeed manage A to Z in their trading life. Else time, effort and money are wasted for those who take Forex as 'Richer machine' (never realizing that it's poverty machine for them).
Passion matters the most.
Passion matters the most.
Aug 29 2018 at 11:54
On my opinion, 2 factors have to be fully complied to be successful in trading:
1- FLY LOW: personally, I don't gain much with Forex (on current month of August I'm in pair) but I currently do not expect fantastic outcomes from it, a monthly +5% should be the target to be hit to be happy - definitively not a daily +500%!
2-CONTROL YOUR EMOTIONS: place your order then... forget about it. Let it work, keep the gain or stop the loss.
I am aware that the above 2 points are easy to be told but difficult to be followed. Anyway, these are key factors I personally try to be stuck at.
1- FLY LOW: personally, I don't gain much with Forex (on current month of August I'm in pair) but I currently do not expect fantastic outcomes from it, a monthly +5% should be the target to be hit to be happy - definitively not a daily +500%!
2-CONTROL YOUR EMOTIONS: place your order then... forget about it. Let it work, keep the gain or stop the loss.
I am aware that the above 2 points are easy to be told but difficult to be followed. Anyway, these are key factors I personally try to be stuck at.
Aug 29 2018 at 14:18
I strongly agree with point 1. So many people want to make 1000% every day but that is BS. 0-10% a month is awesome, many pro traders would give their right arm for such figures
Why is it that traders are not saying anything about trading stocks on mt4.
There are few things I do not understand thou. Its how lot sizes and how pip value is calculated for stocks and indices, if it even called 'pip'. I dont even know where to start looking for this on the internet because there is not lo of websites talking about stocks and indices trading.
There are few things I do not understand thou. Its how lot sizes and how pip value is calculated for stocks and indices, if it even called 'pip'. I dont even know where to start looking for this on the internet because there is not lo of websites talking about stocks and indices trading.
Aug 30 2018 at 06:44
LikeMustard posted:
I strongly agree with point 1. So many people want to make 1000% every day but that is BS. 0-10% a month is awesome, many pro traders would give their right arm for such figures
I really agree with you; 10% is a decent monthly return; that means end of the year 120% monthly return; it’s quite enough.
Aug 30 2018 at 07:06
Adribaasmet posted:LikeMustard posted:
I strongly agree with point 1. So many people want to make 1000% every day but that is BS. 0-10% a month is awesome, many pro traders would give their right arm for such figures
I really agree with you; 10% is a decent monthly return; that means end of the year 120% monthly return; it’s quite enough.
Little correction here if you earn 10% monthly then your return at the year end will be 214% not 120% due to effect of compounding if you reinvest all your monthly profits. But it is still really hard to earn 10% monthly consistently for long periods of time.
The market will trade through it’s path of least resistance .
Aug 30 2018 at 08:28
Forex trading can be profitable avenue for only those people who have the zeal inside them to work hard through out the day. I say this because your success in forex can be greatly impacted by the quality of your forex education. So need to spend adequate time and efforts there. Moreover you should be prepared for any setbacks and losses, both mentally and in terms of tackling them through effective strategies. Maintain a trading journal, don't indulge in revenge trading and most of all keep a balanced and grounded mind. It is important not just to make money but to keep it also
Aug 30 2018 at 14:03
LongVision posted:Adribaasmet posted:LikeMustard posted:
I strongly agree with point 1. So many people want to make 1000% every day but that is BS. 0-10% a month is awesome, many pro traders would give their right arm for such figures
I really agree with you; 10% is a decent monthly return; that means end of the year 120% monthly return; it’s quite enough.
Little correction here if you earn 10% monthly then your return at the year end will be 214% not 120% due to effect of compounding if you reinvest all your monthly profits. But it is still really hard to earn 10% monthly consistently for long periods of time.
True, which is why compounding is awesome and is an 8th wonder of the world.
