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  • Re: Money from Forex?

    Hi sweet barbara,

    How is everything??

    well, you can say yes and no at the same time that forex is good for living. The reasons are varied.

    It could be a source of unlimited income if you become experienced and able to understand everything around Forex and its relationship with the stock market.

    However, it could be also a way to make you sick and as a result lose all your money deposited to trade Forex.

    I guess it is a matter of understand more than experience.

    Believe it or not, everyday I find something new, but I can tell whether it worth looking at or not. Some people create or make indicators to increase the misery in the market so traders get sick of it and give it up. That's why there are billions of indicators, as well as EAs.

    Believe I can talk forever about this and never end.

    I would say Yes eventually that Forex is good for living, but needs hard work if you are willing to go with.

    All best of luck, and Thanks barbara for the nice topic.

    Best wishes,

    Comment


    • Re: Money from Forex?

      Originally posted by scarface
      Hi sweet barbara,

      How is everything??

      well, you can say yes and no at the same time that forex is good for living. The reasons are varied.

      It could be a source of unlimited income if you become experienced and able to understand everything around Forex and its relationship with the stock market.

      However, it could be also a way to make you sick and as a result lose all your money deposited to trade Forex.

      I guess it is a matter of understand more than experience.

      Believe it or not, everyday I find something new, but I can tell whether it worth looking at or not. Some people create or make indicators to increase the misery in the market so traders get sick of it and give it up. That's why there are billions of indicators, as well as EAs.

      Believe I can talk forever about this and never end.

      I would say Yes eventually that Forex is good for living, but needs hard work if you are willing to go with.

      All best of luck, and Thanks barbara for the nice topic.

      Best wishes,

      Thank you :">

      Everything is peachy (BTW where is Ryaz? I didn't see him long time)

      There is one thing I notice about forex.. one day is so sweet and good and everything has sense, and the next day, everything you think to be so good and sweet turns bad and sad for you don't know why but this still happens to me

      Best of luck to you to Scarface, and thank you for you contribution in this forum

      Barbara

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      • Re: Money from Forex?

        I'm going to have to depend on EAs, if I can find some that work. I just can't sit at the computer all day manual trading, plus I'm not confident enough to do that anyway.

        Comment


        • Re: Money from Forex?

          I must agree, second job is "must have" for me too.

          Comment


          • Re: Money from Forex?

            Every body reply to sweet barbara

            Comment


            • Almost need third job.

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              • well i came here on this website because i find the quick trailing expert. So i was amased how may strategies and how many expers was post here .. even me i was excited and i gave a try at a few of them. The only thing that most of the people forget is the professional risk and money management strategies that isthe foundation for success. My trading style is based 70% on fundamantal analisis and 30% on technical. I trade forex live from 2008 and i`m still profitable on long term. The fundamentals it gives me the general view of the market and the technical give me an enter or exit point. The money management keeps you in the disco to dance another day. Many of you try to find the holy grail strading system but i`m afraid such a system doesn`t exist. The only holy grail is the money management that is the difference between suscces or failure. Traiding correclty is 90% portofolio management a fact that most peoples avoid and don`t understand. The money management is not so easy how you think. I read somewere that most people think the short term trading is less risky than long term. Belive me it is NOT. They forgot that profit and loss are proportional. The sorts term systems will never ever alow you to be in trend enough to achive big profits. You will reach small losses but also smol profits, togheter many small sosses equal a big los. On the log term trading you have a more positive xpectation in term of the size of the move. Many of you i think like to trade short term patterns like breakouts. On this aproach you`ll never be able to participate on fully in the big trends. Big trends makes big profits. Several big trends a year are the key to succes. About drowndowns every sistem have drowndowns. it is imposible to have such a system without have some calculated negative trades. Anyone who will tell you that he can double his account or somme funny stories with only the possibility of a little % drawdown is lying. The negative trades is the part of the whole game. Every time adjust your trading size to your fixed risk percentage. Never increase you trading volume. You want more money just increase your balance account. I manage big profits on long runs but i have big accounts on severals brokers that can guarantee my money safe. My trading style is based on pendings limit i never enter with instant execution. When you trade two currencied that are corelated ( there`s no 100% correlations between any pair ) i advice you to take every trade as a separate trade and use fixed risk for all of them regardless of the correlatiosn degree. never take the corelated pairs at the same level. I usually set different entry levels according to the support /resistance lines.In this way i may have variable results not just 2 wins or 2 losses - 1 win - 1 loss, 1 win - 1 cancel. 1 loss- 1 cancel, 2 cancel, 2 wins , and the worst scenario 2 losses.

                Good luck.
                Last edited by Sauber; 09-08-10, 22:01.

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                • Forex is best to be a sideline. I mean, just making use of your free time I guess and can yield you with some extra profit.

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                  • For most part of traders, it is an extra income. But I think everyone probably would like to turn trading in tje main source of income

                    Comment


                    • Originally posted by peleus View Post
                      Forex is best to be a sideline. I mean, just making use of your free time I guess and can yield you with some extra profit.
                      Yeah most of the people who join forex are doing it as a part time job, as its easily accessible and can be done at any time.

                      Comment


                      • Originally posted by vic84 View Post
                        Yeah most of the people who join forex are doing it as a part time job, as its easily accessible and can be done at any time.
                        therefore we must be serious in his forex trading to earn enough profit as in the tradable HiWayFX get 35% bonus

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                        • With FXB Trading, traders are bound to locate the best among the trading platforms that they will come across in the entire trading market. It highlights popular platforms such as MetaTrader 5. The website offers updated daily news and quality trading help for traders.

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                          • Originally posted by Michael Kato
                            The key aspect to their trading decisions is derived from the economic fundamentals. The fundamental backdrop of the market consists of three major areas and that’s why it’s hard to pin point currency direction sometimes. The key to trading the releases is twofold. First, having an excellent understanding of the fundamentals and how the various releases impact the market. Secondly, knowing how to execute the trades with precision and without hesitation.
                            For traders to gain success in the market for CFD, it is necessary that they gain knowledge of whatever is happening economically around the world and keep a tab on all economic occurrences. For this purpose

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                            • It is possible to make money trading money when the prices of foreign currencies rise and fall. Currencies are traded in pairs. Buying and selling currency can be very profitable for active traders because of low trading costs, diverse markets, and the availability of high leverage. Exchanging currency is not a good way for passive investors to make money. It is easy to get started trading money at many large brokerages and specialized forex brokers.

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