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Forex is profitable ?

Kurt (KurtSung)
Sep 03 2018 at 07:02
12帖子
MellinGainin posted:
GreenTrades posted:
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.


Ok, let's add a 3rd point to my 2 above: CONSTANTLY WITHDRAW MONEY. Why leaving it there? Money in Forex is money at risk, each month can last one in profit. So, don't suppose you'll realize +10% every month and pick interests regularly, or at least a part of them.



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

Discipline rules, not emotions.
estraub
Sep 04 2018 at 08:21
23帖子
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.

Mohammadi
Sep 04 2018 at 08:38
886帖子
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.

MellinGainin
Sep 07 2018 at 05:19
5帖子
Why demo (fake) account when you can use micro (REAL) account?

TeraPips
Sep 07 2018 at 05:35
19帖子
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.

snoopy (Novar)
Sep 07 2018 at 09:56
63帖子
Demo account is necessary to test trading stratégy

and after only you can trade live account

and you can compare demo and live

jamesgwyther
Sep 07 2018 at 13:05
289帖子
MellinGainin posted:
Why demo (fake) account when you can use micro (REAL) account?


Demo is not fake.

Demo lets you perfect your strategies without risking money.

Elanbani
Sep 14 2018 at 08:10
19帖子
jamesgwyther posted:
MellinGainin posted:
Why demo (fake) account when you can use micro (REAL) account?


Demo is not fake.

Demo lets you perfect your strategies without risking money.

Absolutely right! demo is not a fake account. it is very useful for every kind of trader whether he is a newbie or an experienced trader.

Adribaasmet
Sep 16 2018 at 06:25
951帖子
Elanbani posted:
jamesgwyther posted:
MellinGainin posted:
Why demo (fake) account when you can use micro (REAL) account?


Demo is not fake.

Demo lets you perfect your strategies without risking money.

Absolutely right! demo is not a fake account. it is very useful for every kind of trader whether he is a newbie or an experienced trader.


Actually, the value depends on the traders approach. Many traders have been using the demo for a long time, but till now struggling; because they don’t know how to use this practice account at all.

MellinGainin
Sep 17 2018 at 07:52
5帖子
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!

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