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Can forex trading make you rich ?
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Sep 27, 2018 at 11:10
You are quite right... as quote goes: "Most people in this world can't handle it."
Can forex trading make you rich ?
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Sep 27, 2018 at 07:31
I understand your logic:A loss of 10% requires a gain of 11.11% to recover; A loss of 20% requires a gain of 25% to recover; A loss of 30% requires a gain of 42.86% to recover; A loss of 40% requires a gain of 66.67% to recover; A loss of 50% requires a gain of 100% to recover.This is why you not only need initial risk capital, but you also need INCOME from elsewhere to replenish your potential drawdows / realised losses. A person who has $10,000 and NO or LOW INCOME is in NO POSITION to trade. Or you start with more than the minimum (eg. $100,000). But you still need a income from elsewhere.&...
Can forex trading make you rich ?
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Sep 26, 2018 at 10:44
Look at 4H timeframes and greater. Provided 1) you do not take huge risk and 2) you have adequate margin to weather drawdowns, you should scale into trends.Follow strong support and resistance levels, but be aware of the possibility the market may not respect a long-term resistance / support and breach it - so err on side of caution.Do not start trading with small money. $10,000 might be a good start, but with small risk you won't get rich overnight. Patience.Nothing worth doing is easy. If it were, then everyone would do it.
Can forex trading make you rich ?
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Sep 26, 2018 at 10:12
I would say your strategy is “exceptional” rather than “common”; suitable mostly for scalping.Other traders would follow the slow and patient, “trend is your friend” method. After trying your method for many years with small successes and huge losses, I now prefer holding positions longer term, riding the trend and lowering my stress. Day trading is quite stressful.
Can forex trading make you rich ?
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Sep 26, 2018 at 08:03
By far, the best instruments for me has been EURTRY and CHFSGD: 400% (AUD$200,000) profit this month from these pairs ALONE!
Can forex trading make you rich ?
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Sep 26, 2018 at 07:35
Maybe I am "rich"?As a matter of perspective: is $250,000 in the bank "rich" to you? Then I am not pretending to be rich. I really am rich. 😎
Can forex trading make you rich ?
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Sep 26, 2018 at 07:34
Pretenders? I try hard, but I don't "pretend to be rich". Don't mistake my rookie attempts as "pretending to be rich".Good luck finding "anyone who has actually become rich from Forex" on a forum.
Can forex trading make you rich ?
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Sep 26, 2018 at 07:34
I have spent ten years since 2008 "trying" to trade. I do not consider myself any better than when I started. I just know a bit more, but the market is as unpredictable now as it was back then. Trading improves as a person improves their character, not knowledge.eg. patience, emotional detachment, self-control. Tools do their job, but the difference in quality comes from the person using them.
Can forex trading make you rich ?
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Sep 26, 2018 at 07:33
The quote belongs to Mark Shawzin (https://thepatterntrader.com).(...if you think he is amazing simply for spending 23 years on Wall Street)Time in the trenches does NOT equal trading abilities. There are some critics out there that do not support him. I can't say I favor him with the little knowledge I know about him. I just like his quote - it is quite true.
Forex is profitable ?
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Sep 25, 2018 at 13:50
...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 primar...
Forex is profitable ?
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Sep 25, 2018 at 09:33
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:https://www.youtube.com/watch?v=FBDb392sxpgStick to forex: you can lose your shirt, but you won't lose your soul.
Can forex trading make you rich ?
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Sep 25, 2018 at 08:55
Emphasis on:PATIENCE!!!
Can forex trading make you rich ?
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Sep 25, 2018 at 08:55
Emphasis on:'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.'
Can forex trading make you rich ?
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Sep 25, 2018 at 08:54
There is no gain without risk.Higher gain = higher risk.Nothing is guaranteed, but you can stack the odds in your favor by analysis and understanding of market dynamics.https://www.myfxbook.com/files/BluePanther/New_Bitmap_Image_8l.jpg"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 l...
TimerScalper
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Sep 25, 2018 at 07:35
Yeah, sounds like my account! Haha!https://www.myfxbook.com/files/BluePanther/Clipboard07_%281%29.jpg
Show your profitable account here.
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Sep 24, 2018 at 10:47
No argument. Rules are stated in Post #1.This account is not yet 3 months old. Therefore, this account does not qualify for this thread.Please post in this thread when your account has survived the test of time.
Show your profitable account here.
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Sep 23, 2018 at 11:15
Come back in two months... if your account is still alive then!
Show your profitable account here.
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Sep 23, 2018 at 11:13
(my post yesterday from went missing...)How soon can this account margin call?Well, from my quick calculations this account is not even three months oldlet's see.4)The account must be older than 3 months, maybe this is even still too young.
Show your profitable account here.
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Sep 23, 2018 at 06:55
How soon can this account margin call?Well, from my quick calculations, it has not even survived 3 months yet.let's see.😎😈😇4)The account must be older than 3 months, maybe this is even still too young.
GDow
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Sep 21, 2018 at 06:48
Super-impressive results sir! You are my idol... I wish I could achieve the same results as you!
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