Forex is profitable ?

Sevinj posted:
babypips is so good for newbie. everything is so simply explained. I am not sure if it can really give you everything to be profitable but is a great start

Agreed

For being a news trader, volatile market is my favorite; but till now I use FOMC and announcement type news events! On the other hand, trendy market is always favorite I don’t count the volatility on my current trades.

Sevinj posted:
babypips is so good for newbie. everything is so simply explained. I am not sure if it can really give you everything to be profitable but is a great start

Babypips is undoubtedly great, but it's only for beginner. Once you finished your graduate, it won't make you have a profitable strategy. I'd say that graduated in pipsology is the beginning of trading life. You'll have to learn continually to make a consistent profitable.

That's the whole idea of BP's course - to give you a good foundation. Not to give you a winning strategy.
You have to figure that one for yourself. Trading is not an exact science and there are no 100% success recipes/strategies.
You just have to try and learn by doing. That's why the demo accounts are free.
Try, test, mend and do it all again until you have a consistently profitable strategy, then move on to live and try to recreate/repeat your success. If it doesn't work - go back and start again.

estraub posted:
That's the whole idea of BP's course - to give you a good foundation. Not to give you a winning strategy.
You have to figure that one for yourself. Trading is not an exact science and there are no 100% success recipes/strategies.
You just have to try and learn by doing. That's why the demo accounts are free.
Try, test, mend and do it all again until you have a consistently profitable strategy, then move on to live and try to recreate/repeat your success. If it doesn't work - go back and start again.

Trading is actually an exact science
Just compare so called tick data backtesting on mt4 and mt5 and you will see the difference

TeraPips posted:

Sevinj posted:
babypips is so good for newbie. everything is so simply explained. I am not sure if it can really give you everything to be profitable but is a great start

Babypips is undoubtedly great, but it's only for beginner. Once you finished your graduate, it won't make you have a profitable strategy. I'd say that graduated in pipsology is the beginning of trading life. You'll have to learn continually to make a consistent profitable.

its true..

estraub posted:
That's the whole idea of BP's course - to give you a good foundation. Not to give you a winning strategy.
You have to figure that one for yourself. Trading is not an exact science and there are no 100% success recipes/strategies.
You just have to try and learn by doing. That's why the demo accounts are free.
Try, test, mend and do it all again until you have a consistently profitable strategy, then move on to live and try to recreate/repeat your success. If it doesn't work - go back and start again.

can't agree more...😎

You can get a good foundation for free from babypips. Without a winning strategy you have nothing. Strategy is everything in Forex. I wouldn't pay $1 for anything that doesn't provide a winning strategy

togr posted:
Trading is actually an exact science
Just compare so called tick data backtesting on mt4 and mt5 and you will see the difference

Trading is NOT an exact science. Please read this:
https://optimusfutures.com/tradeblog/archives/3-tips-to-trading-unpredictable-markets/

Happy trading! 😎

You might also like to read this too:
https://dailypriceaction.com/articles/is-forex-trading-gambling

But forex can be a profitable venture if you 'get lucky'! 😎

Here's another gem:
https://optimusfutures.com/tradeblog/archives/how-to-look-past-your-trading-biases/

Worthwhile reading. Enjoy!

TeraPips posted:

Sevinj posted:
babypips is so good for newbie. everything is so simply explained. I am not sure if it can really give you everything to be profitable but is a great start

Babypips is undoubtedly great, but it's only for beginner. Once you finished your graduate, it won't make you have a profitable strategy. I'd say that graduated in pipsology is the beginning of trading life. You'll have to learn continually to make a consistent profitable.

Exactly, it is! Only BabyPips School is not enough here! But no doubt, for the beginners it’s really useful to start with.

I haven't graduated from BabyPips (I never tried) but I don't know if they cover this aspect, beware of high impact news releases. There is money to make during the news releases but watch out for the spreads as some brokers widen them very badly.

Forex is a very profitable market when you have a decent investment. No need to explain that you can live well with 10% ROI monthly if your account size is 1,000,000$, but if your account size is 1,000$ you will only have 10$ of profit per month.

No way to avoid news event. Even, your major is trading tools or price action! Till now you to consider the news events.

On my opinion, you should start trade with demo account to understand how it works. If somebody have a good expirience in trading, you could start with a few dollars.

Kalamo posted:
I haven't graduated from BabyPips (I never tried) but I don't know if they cover this aspect, beware of high impact news releases. There is money to make during the news releases but watch out for the spreads as some brokers widen them very badly.

Forex is a very profitable market when you have a decent investment. No need to explain that you can live well with 10% ROI monthly if your account size is 1,000,000$, but if your account size is 1,000$ you will only have 10$ of profit per month.

 So what is your point? The reality is your little 1k investment, can grow to any amount. One needs to only focus on a system and devolping strict rules and never breaking them. Nothing is 100% perfect, but you can come pretty damm close which can result in amazing profits.

How do you develop a system that works? I have seen so many and tried to follow 100% perfect but results is invariably not good

Kalamo posted:
Forex is a very profitable market when you have a decent investment. No need to explain that you can live well with 10% ROI monthly if your account size is 1,000,000$, but if your account size is 1,000$ you will only have 10$ of profit per month.

10% of $1000 = $100 (not $10)

If a system has strict rules then surely you can turn it into an EA to work for you? Why don't you do that and share it with the group?