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Thread: Trading forex profitable is impossible!

  1. #21
    I dont think so in my point of view trading Forex is profitable only for u if u follow strictly currency management.

  2. #22
    Quote Originally Posted by ;
    I'm trading because a couple of decades now. I really do around 5 to 10 transactions a day or ... that complaining on forums. If a project could kill you, begin trading.
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    Truly nice advice and sensible stuff.
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    You and few men before just nailed it. Knowledge, patience and brains. Some MM help.
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    Quote Originally Posted by ;
    Some of the greatest traders (W.D Gann) took 10 years to learn his craft, and he did it w/o the usage of computers. You should expect to spend a lot of time mastering this. Anyone can trade profitably, you only have to immerse yourself into the world of trading....read, browse , read, newspaper trade/demo trade until your profitable for 1 year. THEN, begin with a small account. If you blow out your account, repeat the demo trading until you understand why you blew out, then start out again. One other thing, keep your expectations reasonable. Forget ...
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    I enjoy this. Ten years
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    My information here - Truth is people learn by example or really digging into market mechanisms. Reading forums in this way, drawing stations, reading news. THAT'S THE IMPORTANT. Always ask WHY.
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    If you browse bunch of novels by failed traders - what's that? I've read less than two books, but a lot of nice examples like novels. That didn't stop me from blowing off 4 accounts. Too much risk, too much ignorance and laziness.
    As to novels and humorous egies - sure they are plenty.... An individual may try them. My email averaged 1500 provides each year, giving signals, instruction etc.. Imagine if I used all these tools. I really could make 15000 pips a day
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    I traded 15 minute charts, daily etc.. Finally I found my power in 4H chart. I enjoy it. I make cash. I read the news every time. I think. So that's what market comprehension is all about. People need patience and comfy interval.
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    Green pips all.

  3. #23
    Quote Originally Posted by ;
    quote Really nice advice and sensible stuff. You and few guys before just nailed it. Knowledge, brains and patience. Some MM help too.
    Hell yes, of course. Getting your SL too tight turns even the greatest egy/technique into gaming. Always chose your SL in accore with the volatility and change your value-per-pip/position size if needed. Just saying I can afford to lose $500 per transaction so that will be my SL may work but figures are not really on your favour.
    I totally forgot to mention that I'm not focused on a single commerce, my SL also reveals a number of pips that are simple to get back - that is of course the luxury of short term with common sized movements. It means that if I shed a transaction, I don't actually need to get angry about that - another opportunity to acquire the lost amount back will usually present itself within an hour.

  4. #24
    Quote Originally Posted by ;
    quoteanother chance to get the lost amount back will usually pose itself within one hour.
    So true!
    Also brief term does require much less analysis.

    I'm constantly all if a chance presents itself, dependent on Money direction of course.

    Makes no difference to me if my goal is 4 or 400 pips

  5. #25
    No I really don't turn a coin, and you obviously did not read my tag line that by the way is in BOLD TYPE

    and as with any method there are intervals of drawdown...

  6. #26
    Quote Originally Posted by ;
    quote I agree with what Snah said about Finnish Mindset towards Forex. Additionally taxation on currency trading is foolish. If I exchange Euro pairs I must cover ~30% taxes from EVERY SINGLE WINNING TRADE. Meaning that should I triumph 10000 and shed 10000 ( -0 change in equilibrium) I must still cover 3000 in taxes. Fortunately if I trade in other currencies and possess my account by way of example dollars I just cover taxes out of the money I withdraw from the broker.
    Hello! Fellow finnish here. Can you say where I could discover that kind of information 'formally'? Googling in finnish doesn't help whatsoever and asking finnish forums are a dead end also. All I could find is losses aren't deductible as you said. If you were able to help a bit.

    -

  7. #27
    Quote Originally Posted by ;
    The only way I understand how trading Currency Market could be profitable would be to get in on the long-term tendencies and just follow it.
    Interesting Perspective. In my situation Iv been trying to do that and that I couldnt make money that way. Once I started taking counter trend trades with 4/1 or more RR mi Profit Factor rised up to 5 or 4 (with a set of principles obviusly).

    So I think thats a beauty thing concerning trading, a lot of people cant make money but if you look into the winners circle you will understand that everyone do a diferent thing haha.

    So surely there is not The only way to be profitable.
    Christian.

  8. #28
    Forex trading profits are Large, so the Profits in forex I Think Will be obtained if the skill ability that we have the maximum trading, profits will depend on the capabilities that we have today

  9. #29
    The question to ask yourself is the way some traders make consistent gains.

    Just having luck has nothing to do with it.

  10. #30
    Whether it is Forex, or another market, It is and shall always be a Zero Sum Game. Take a Look at the oracle of Omaha. Even he doesn't have consistent positive returns. Every 3 to 4 years there is a reduction.

    I agree, consistence is what matters. I just started a few weeks ago and I am wiping out demo accounts like no tomorrow, then assessing and wondering what the hell did I do wrong?! My RSI was great, Stochastics on point, bollinger ring was broken, etc.. So why did I end up on the wrong side of this trade?

    The beauty of it is that as a beginner, you have unlimited info. What I can say as a beginner is that, two components really beat us up when we start:

    We're greed: we search for profits and when we get them, we become irresponsible, or when we lose, we tend to lose FX for a little while without really learning from those losses.

    We go through information overload: There IS too much information concerning the market. A lot of sound, and we try to harmonize EVERYTHING believing it should help us, when in fact, we have to learn when to listen to specific songs and should ignore them. Yes, I am talking about News and Indiors overall.

    So there is that. Just do not stop studying.

    KEEP A LOG!!!

    Every trade, position, time and reason why, place it down. At the end of the week, find out from each trade that which you did well that you COULD repeat, and what you didn't do well and the reason why.

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