Money from Forex?

Almost need third job.

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.

Edited August 9, 2010 by Sauber

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.

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

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.

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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