Profit / loss analysis and trading talks

que76648 posted:
Hello, sirs. I am new here and I saw that this thread is one of the most interesting. What tips would you give to a newbie like me to make a profit that is enough to support myself (1000-2000 dollars per month for my country).

crcrcr654 posted:

que76648 posted:
Hello, sirs. I am new here and I saw that this thread is one of the most interesting. What tips would you give to a newbie like me to make a profit that is enough to support myself (1000-2000 dollars per month for my country).

If you want to make a living from trading alone, you should now think about an additional source of income for the period until you have enough experience. If you are a newbie, then even under the most favorable conditions, your trading will not be stable enough to rely on its size. Based on this I would advise you to focus on your risk management and consistency in trading. Your trading style should start with safety and then add increased profits and risks.

WhiteWitcher posted:

que76648 posted:
Hello, sirs. I am new here and I saw that this thread is one of the most interesting. What tips would you give to a newbie like me to make a profit that is enough to support myself (1000-2000 dollars per month for my country).

Oh what is your investment budget? Do you want to trade or are you considering diversification?

que76648 posted:

crcrcr654 posted:

que76648 posted:
Hello, sirs. I am new here and I saw that this thread is one of the most interesting. What tips would you give to a newbie like me to make a profit that is enough to support myself (1000-2000 dollars per month for my country).

If you want to make a living from trading alone, you should now think about an additional source of income for the period until you have enough experience. If you are a newbie, then even under the most favorable conditions, your trading will not be stable enough to rely on its size. Based on this I would advise you to focus on your risk management and consistency in trading. Your trading style should start with safety and then add increased profits and risks.

Sir, thank you for the detailed advice. I currently have savings and a permanent job, but I would like to invest in trading, while replacing work with profits from trading.

PorfirioReyes posted:

que76648 posted:

crcrcr654 posted:

que76648 posted:
Hello, sirs. I am new here and I saw that this thread is one of the most interesting. What tips would you give to a newbie like me to make a profit that is enough to support myself (1000-2000 dollars per month for my country).

If you want to make a living from trading alone, you should now think about an additional source of income for the period until you have enough experience. If you are a newbie, then even under the most favorable conditions, your trading will not be stable enough to rely on its size. Based on this I would advise you to focus on your risk management and consistency in trading. Your trading style should start with safety and then add increased profits and risks.

Sir, thank you for the detailed advice. I currently have savings and a permanent job, but I would like to invest in trading, while replacing work with profits from trading.

Sounds like a good approach. take it slow and don't give up the permanent job until you are making consistent profits from FX

ProfitsRiding posted:

PorfirioReyes posted:

que76648 posted:

crcrcr654 posted:

que76648 posted:
Hello, sirs. I am new here and I saw that this thread is one of the most interesting. What tips would you give to a newbie like me to make a profit that is enough to support myself (1000-2000 dollars per month for my country).

If you want to make a living from trading alone, you should now think about an additional source of income for the period until you have enough experience. If you are a newbie, then even under the most favorable conditions, your trading will not be stable enough to rely on its size. Based on this I would advise you to focus on your risk management and consistency in trading. Your trading style should start with safety and then add increased profits and risks.

Sir, thank you for the detailed advice. I currently have savings and a permanent job, but I would like to invest in trading, while replacing work with profits from trading.

Sounds like a good approach. take it slow and don't give up the permanent job until you are making consistent profits from FX

@PorfirioReyes Exactly slow and Steady

que76648 posted:
Hello, sirs. I am new here and I saw that this thread is one of the most interesting. What tips would you give to a newbie like me to make a profit that is enough to support myself (1000-2000 dollars per month for my country).

ZanLanYu posted:
But to follow the markets while having a full time job is so difficult. That is why I like to use trading robots and signals providers .They do the hard analysis while I have full time job

MarcellusLux posted:

que76648 posted:
Hello, sirs. I am new here and I saw that this thread is one of the most interesting. What tips would you give to a newbie like me to make a profit that is enough to support myself (1000-2000 dollars per month for my country).

First of all, you need to be confident in your foundation. Your aim as a new trader is to start by absorbing information as well as you can, and I believe that since you are here, you are at this stage. Study, get train trading skills, try to get more detailed information about all questions arise and follow experienced traders to learn from their experience.
Create your trading plan and follow it, do not try to overhead your capabilities, correctly assess your strengths and skills, setting achievable goals. This is also a very important psychological aspect.
Find your own trading style by trying different risk management and trading strategies.
If you have the opportunity to diversify your profits to other investment projects, this will help you quickly achieve your basic passive income.
Be psychologically prepared for failures. Initially, I would not connect the aspect of making a living to trading, since this will add additional psychological pressure on you.

ZanLanYu posted:
But to follow the markets while having a full time job is so difficult. That is why I like to use trading robots and signals providers .They do the hard analysis while I have full time job

Raven1209 posted:
Opened a long on GBP/USD at 1.27608, confident in the upward momentum. Set my stop loss at 1.27346, keeping it tight to manage risk, and aimed for a take profit at 1.27936. Held the position overnight, and the market moved in my favor, hitting the take profit target by morning. Locked in a solid $6,560 profit, even with a minor swap cost eating into the gains. The setup played out just as expected—tight risk management paid off, and the trade closed out perfectly. Always a good feeling when a plan comes together like this.

ZanLanYu posted:
But to follow the markets while having a full time job is so difficult. That is why I like to use trading robots and signals providers .They do the hard analysis while I have full time job

Oscar555 posted:

ZanLanYu posted:
But to follow the markets while having a full time job is so difficult. That is why I like to use trading robots and signals providers .They do the hard analysis while I have full time job

A short story from my personal experience. I'm the person who left a full-time job to pursue a career as a trader. I'll tell you right away how my first attempt turned out—I failed and had to go back to work. It was tough, but I didn't give up on trading. I started spending less time on it, but gradually, little by little, I began to make a profit. I won't give any advice on this matter, as it's a personal decision for everyone. Some might get lucky.

NochillFX posted:

Oscar555 posted:

ZanLanYu posted:
But to follow the markets while having a full time job is so difficult. That is why I like to use trading robots and signals providers .They do the hard analysis while I have full time job

A short story from my personal experience. I'm the person who left a full-time job to pursue a career as a trader. I'll tell you right away how my first attempt turned out—I failed and had to go back to work. It was tough, but I didn't give up on trading. I started spending less time on it, but gradually, little by little, I began to make a profit. I won't give any advice on this matter, as it's a personal decision for everyone. Some might get lucky.

My nephew just called telling he resigned to trade Forex and blew his cash payout. He resigned two months ago 😭

Oscar555 posted:

NochillFX posted:

Oscar555 posted:

ZanLanYu posted:
But to follow the markets while having a full time job is so difficult. That is why I like to use trading robots and signals providers .They do the hard analysis while I have full time job

A short story from my personal experience. I'm the person who left a full-time job to pursue a career as a trader. I'll tell you right away how my first attempt turned out—I failed and had to go back to work. It was tough, but I didn't give up on trading. I started spending less time on it, but gradually, little by little, I began to make a profit. I won't give any advice on this matter, as it's a personal decision for everyone. Some might get lucky.

My nephew just called telling he resigned to trade Forex and blew his cash payout. He resigned two months ago 😭

That’s tough, but unfortunately, it’s a common story. Trading isn’t easy, and it’s crucial to have a solid plan and backup before diving in. Tell your nephew not to give up, but to approach it more cautiously next time. It’s a learning curve.