Forex trading - hard work, but profitable

costafa

Newbie
3 1
Many people write that it is impossible to make money on Forex. Of course, from the part they are right, but there are nuances. I want to tell you how I came to this market, what I could achieve and through what difficulties I had to go through.
I met Forex 5 years ago, I completed training, started trading and lost almost all of my deposit. Do you know why? Not because I was led to a loss, but because at various courses we get 5% of useful information about the trade. So how do you make money on Forex? From my experience, I can say that you can do everything if:
- You can risk the sums of money without fear of losing them. I can do that! I close the deals that went at a loss and do not regret it, even if the price went up, but if not?!
- You must give this work 10 hours a day minimum. I, for example, can conduct my position for hours, I cannot even go to the toilet.
- What moves the prices? The whole world!
- Broker platform. On the Internet, many brokers are now represented, but you must know that many of them work inappropriately. In total, I changed about 5 brokers, now I'm working with the Golden Markets platform.
- Follow the news, analyze the behaviour of the currency on history, etc.
- Deposit. Frankly, I cannot give recommendations, you can start with any amount, how much you can decide to risk everyone himself.
Are you ready for this? You decide!
Summarized: Can I earn a million? It is possible and even more. Do not go to any courses, everything you need is in the internet, only you need to find the information you need.
 
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NVP

Legendary member
36,749 1,875
hi costafa....

ive been gambling for over 40 years and trading and teaching forex for 20 years ......

sure profitable trading is possible ......but the path to profitable trading goes far beyond the external factors of developing successful systems and strategies and understanding markets ..the real challenge is mastering yourself,your Ego and your internal demons

the rest is then easy

N
 

costafa

Newbie
3 1
hi costafa....

ive been gambling for over 40 years and trading and teaching forex for 20 years ......

sure profitable trading is possible ......but the path to profitable trading goes far beyond the external factors of developing successful systems and strategies and understanding markets ..the real challenge is mastering yourself,your Ego and your internal demons

the rest is then easy

N
Agree with you!:D
 

costafa

Newbie
3 1
If that's your argument, doesn't it make more sense to do swing-trading in the stock market than FX?
Most people who read my post, somehow use the FX, and this post is for them. Otherwise, I completely agree with you, but it's worth considering that the entrance threshold to the stock markets is different. You must be ready for this.
 

SmTrader86

Junior member
17 4
And how much do you earn with it? (y)
hi buddy, percentage wise about average 10-15% per month.....some month (very slow ones as lows as 4/5%)...busy months can be up to 40%.

But i don't put pressure on myself to earn a certain %, i just take what the market give's me...
 
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MotifSky

Junior member
14 0
hi buddy, percentage wise about average 10-15% per month.....some month (very slow ones as lows as 4/5%)...busy months can be up to 40%.

But i don't put pressure on myself to earn a certain %, i just take what the market give's me...
Thanks for your reply! That's a rather good profit (y)
 

Bormondo

Junior member
17 2
hi buddy, percentage wise about average 10-15% per month.....some month (very slow ones as lows as 4/5%)...busy months can be up to 40%.

But i don't put pressure on myself to earn a certain %, i just take what the market give's me...
wow, that's quite good indicators. How much time do you spend for trading per week?
 

SmTrader86

Junior member
17 4
Hey buddy,

based on my new account from 13th june to present day i have 192 trades, so based on that average about 64 trades.

Thanks

Also by the way i'm a swing trader, i don't trade every day. However i am always looking at my graph every couples hours (sometimes more) etc. I work from home. i work from home so i have the time.

Thanks
 

MotifSky

Junior member
14 0
Thanks for sharing with this tips, they're really useful, I can agree with them from my own experience too.
Also I can add that if you want to become a successful forex trader it's important to pay attention on such things:
- defining your goals and general risks carefully
- focusing on a single currency pair not many ones for better improving of your trading skills and strategies
- having your own trading plan/strategy because forex is a type of business and it's more effective to use the business approach for it too
- finding a professional and safe broker, there's a great variety of them but experienced traders recommend to work only with the ones from reliable resources and regulatory agencies in order to avoid scam
- starting fom demo/mini account and small money investments
- automating your trading and controlling your emotions for preventing big money losses (the second reason is one of the most popular ones for fails in case of many traders)
- studying general money management, it's a basis for a maximization of profits and minimization of losses https://www.forexfraud.com/news/forex-trading-tips-20-things-need-know-successful-trader
 

blueshaman

Newbie
9 2
Also by the way i'm a swing trader, i don't trade every day. However i am always looking at my graph every couples hours (sometimes more) etc. I work from home. i work from home so i have the time.

Thanks
How long are your trades (typically) ? Do you favour Swing over intraday trading for any particular reason?
 

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