Trading for a living. Tip #1

[harold_hsu]

Originally Posted by Btrader

I do agree! we really should know how to be careful in terms like that.. because in a blink of an eye, we might be eaten by a shark..

I definately agree!

But the thing is, to be consistently profitable, one will need to know when to be conservative, and when to be aggressive.

I don't quite agree when people say that Forex market movements are random. The fact that there are consistently profitable traders in the World already disproves their hypothesis. A trader can be lucky for a few months, but he can't be lucky for 5 straight years, can he?

The whole idea (as many of you would know by now) is to find the right trading system to follow.

Unfortunately there are countless scams on the internet today -and some with very nice-looking websites- that cheat money out of honest traders that are looking for a decent system to trade with.

[Shadrack N Mbolonzi]

Hello community members.

I am one of the newest members and looking forward to continue interacting with each other through this forum.

Regards

Shadrack

[Forex_hedger]

Well , I totally disagree.Yes , there are dreamers out there but who guarantee they will not make millions ? With good money managment , and a good strategy , and with consistent results , yes it is possible to earn 10% or even 50% a month .Dreamers are those who want 1000% per month , but trade with no planing , just buying when is too low and selling when the market is too high.Let's take an example of a very good system and a very good managment of risk.Let's say a trader can get 500 pips a month using just 5% of his/her acc.This is 25% per month , and even if you start with $2.000 , in 3 years you will be a millionaire.You got to dream , this is important , but believe in your dream , and always keep reasonable goals , because step from step , you can achieve what you think it was impossible.
If you are 18 for example and are thinking of making a live of Forex , why not ?

[Forex_hedger]

Soon I will invest $2.000 on Forex , and will try to keep my profits reasonable (already have a good plan , just testing it for now) , and will show you that it is possible to make a living from Forex starting from just 2K.As soon as I put the money on the broker (Lite Forex) , I will make a topic , and will keep you monthly updated with my trading results , this way I know there are people watching me so I will try to do my best every month , keeping my profits from 10-50% , always focusing on money managment , and following my strategy.
That's it folks , good night for all in America

[fxtrendline]

Originally Posted by Forex_hedger

Soon I will invest $2.000 on Forex , and will try to keep my profits reasonable (already have a good plan , just testing it for now) , and will show you that it is possible to make a living from Forex starting from just 2K.As soon as I put the money on the broker (Lite Forex) , I will make a topic , and will keep you monthly updated with my trading results , this way I know there are people watching me so I will try to do my best every month , keeping my profits from 10-50% , always focusing on money managment , and following my strategy.
That's it folks , good night for all in America

great congratulation ...just waiting for the result..and if you don't mind could u share your system with us ?

[sweetpip]

Originally Posted by Forex_hedger

Soon I will invest $2.000 on Forex , and will try to keep my profits reasonable (already have a good plan , just testing it for now) , and will show you that it is possible to make a living from Forex starting from just 2K.As soon as I put the money on the broker (Lite Forex) , I will make a topic , and will keep you monthly updated with my trading results , this way I know there are people watching me so I will try to do my best every month , keeping my profits from 10-50% , always focusing on money managment , and following my strategy.
That's it folks , good night for all in America

We'll be looking forward to that!

Many would keep an eye on your trading and your system for sure..

Good luck on you..

[marrdonmiller]

Hi you all. I KNOW its possible to do 10-40% in one month, it depends on you the individual and your emotions. If you can stick to a technique that works for you and do not deviate from it you can do anything. Risk management is a very important aspect to a traders plan, without it your going down hill and with a rocketship.
Your aim should be simple "Make Pips, Keep them and repeat. I agree with alot of the statements posted are true, I think to really make it good you need to open your account with USD$20,000 or more. Confidence is not the same as to being cocky.

[FerruFx]

Originally Posted by marrdonmiller

Hi you all. I KNOW its possible to do 10-40% in one month, it depends on you the individual and your emotions. If you can stick to a technique that works for you and do not deviate from it you can do anything. Risk management is a very important aspect to a traders plan, without it your going down hill and with a rocketship.
Your aim should be simple "Make Pips, Keep them and repeat. I agree with alot of the statements posted are true, I think to really make it good you need to open your account with USD$20,000 or more. Confidence is not the same as to being cocky.

It is D.I.S.C.I.P.L.I.N.E

FerruFx

[fxtrendline]

the most important is 10 : 3 , 10 win 3 loss and this case can be repeated again and again for a longer time

[forexmoments]

Put simply, one needs to stick to a system. One musn't chop and change every 5 minutes, how will you ever know what works? This is one of the main issues I notice with a lot of newbies.