Can forex trading make you rich ?
Jan 11, 2018 at 15:07
togr posted:drwei posted:
i don't understand why there are so few people trading forex in china. back in 2009,there were a lot of people on chinese forex bbs .i feel some regret.
Isnt it prohibited by goverment?
i think that is one of the reasons.
Jan 12, 2018 at 17:46
AniLorak posted:drwei posted:
i don't understand why there are so few people trading forex in china. back in 2009,there were a lot of people on chinese forex bbs .i feel some regret.
What’s the problem actually in there?
I don't know, maybe it's more difficult to make money.
Mitglied seit Dec 11, 2015
1487 Posts
Jan 13, 2018 at 15:47
What's the situation with Chinese Forex regulation?
Jan 14, 2018 at 06:39
I do not think ... Although you can get a good benefit if you know how to advise me with good agents and especially with all the great information found on the web, it can be advantageous and not so much, but finally with advice maybe this can serve as a good extra income.
Mitglied seit Dec 11, 2015
1487 Posts
Jan 14, 2018 at 14:27
(bearbeitet Jan 14, 2018 at 14:27)
drwei posted:mlawson71 posted:
What's the situation with Chinese Forex regulation?
foreign exchange control is very strong,Each person limits the purchase of $50,000 a year.
I see. Is it possible that has an effect on the popularity of Forex trading in China?
Jan 15, 2018 at 17:23
Pikasso posted:Have you ever seen any successful trader with the automatic trading system? I’m asking because, I see all of successful Forex traders trade manually!
forex can make you rich if you will trade systmatically with low risks and it is better if your trading system is automated. It will exclude human factor to break the rules.
Mitglied seit Feb 22, 2011
4862 Posts
Jan 18, 2018 at 09:57
AniLorak posted:Pikasso posted:Have you ever seen any successful trader with the automatic trading system? I’m asking because, I see all of successful Forex traders trade manually!
forex can make you rich if you will trade systmatically with low risks and it is better if your trading system is automated. It will exclude human factor to break the rules.
I do on contrary make profit only with EAs or algos.
automatic system will trade
- without emotions
- without delay
- without rest all the time
- can be backtested not like manual trading
e.g. fully automated system
https://www.myfxbook.com/members/togr/advanced/2044496
Mitglied seit Dec 28, 2017
2 Posts
Jan 19, 2018 at 08:42
As far as I know, 75% of the trading done by institutional traders is done automatically. The traders just overview the EAs and change the algorithm parameters depending on market conditions, sentiment, economic calendar, etc. And it should be like that, when you trade large volumes you need EAs to keep you mentally healthy. Imagine opening each position with a volume of 100 lots for 8 hours/day every day.....It's just impossible not to go down emotion avenue.
Personally I trade manual because I couldn't find a good and stable EA yet and, I have to admit, I'm a bit addicted to the trading adrenaline :))))
Personally I trade manual because I couldn't find a good and stable EA yet and, I have to admit, I'm a bit addicted to the trading adrenaline :))))
Mitglied seit Jan 25, 2010
1360 Posts
Jan 19, 2018 at 18:38
(bearbeitet Jan 19, 2018 at 18:39)
Ciprian_Moraru posted:
As far as I know, 75% of the trading done by institutional traders is done automatically. The traders just overview the EAs and change the algorithm parameters depending on market conditions, sentiment, economic calendar, etc. And it should be like that, when you trade large volumes you need EAs to keep you mentally healthy. Imagine opening each position with a volume of 100 lots for 8 hours/day every day.....It's just impossible not to go down emotion avenue.
Personally I trade manual because I couldn't find a good and stable EA yet and, I have to admit, I'm a bit addicted to the trading adrenaline :))))
You raise two good points; I concur:
1. Emotions when trading large lots.
2. Lack of a good and stable EA.
Perhaps keeping your account small is the answer? Or expanding the mind to better cope with large sums?
Manual trading can get me better results than automated... if only I could be consistently profitable too:
forex_trader_486496
Mitglied seit Jan 03, 2018
4 Posts
Jan 21, 2018 at 07:14
Ciprian_Moraru posted:
As far as I know, 75% of the trading done by institutional traders is done automatically. The traders just overview the EAs and change the algorithm parameters depending on market conditions, sentiment, economic calendar, etc. And it should be like that, when you trade large volumes you need EAs to keep you mentally healthy. Imagine opening each position with a volume of 100 lots for 8 hours/day every day.....It's just impossible not to go down emotion avenue.
Personally I trade manual because I couldn't find a good and stable EA yet and, I have to admit, I'm a bit addicted to the trading adrenaline :))))
How do you know about that? I heard that too but I want to know if that is true. Thanks.
Mitglied seit Feb 22, 2011
4862 Posts
Jan 21, 2018 at 07:27
Ciprian_Moraru posted:
As far as I know, 75% of the trading done by institutional traders is done automatically. The traders just overview the EAs and change the algorithm parameters depending on market conditions, sentiment, economic calendar, etc. And it should be like that, when you trade large volumes you need EAs to keep you mentally healthy. Imagine opening each position with a volume of 100 lots for 8 hours/day every day.....It's just impossible not to go down emotion avenue.
Personally I trade manual because I couldn't find a good and stable EA yet and, I have to admit, I'm a bit addicted to the trading adrenaline :))))
I know what you mean. But such adrenaline could be pretty costly :)
Jan 21, 2018 at 07:50
Ciprian_Moraru posted:
As far as I know, 75% of the trading done by institutional traders is done automatically. The traders just overview the EAs and change the algorithm parameters depending on market conditions, sentiment, economic calendar, etc. And it should be like that, when you trade large volumes you need EAs to keep you mentally healthy. Imagine opening each position with a volume of 100 lots for 8 hours/day every day.....It's just impossible not to go down emotion avenue.
Personally I trade manual because I couldn't find a good and stable EA yet and, I have to admit, I'm a bit addicted to the trading adrenaline :))))
That’s not true ! Most of the institutional Forex traders are trading manually! Yes, they are!
Mitglied seit Feb 22, 2011
4862 Posts
Jan 22, 2018 at 09:31
BluePanther posted:Ciprian_Moraru posted:
As far as I know, 75% of the trading done by institutional traders is done automatically. The traders just overview the EAs and change the algorithm parameters depending on market conditions, sentiment, economic calendar, etc. And it should be like that, when you trade large volumes you need EAs to keep you mentally healthy. Imagine opening each position with a volume of 100 lots for 8 hours/day every day.....It's just impossible not to go down emotion avenue.
Personally I trade manual because I couldn't find a good and stable EA yet and, I have to admit, I'm a bit addicted to the trading adrenaline :))))
You raise two good points; I concur:
1. Emotions when trading large lots.
2. Lack of a good and stable EA.
Perhaps keeping your account small is the answer? Or expanding the mind to better cope with large sums?
Manual trading can get me better results than automated... if only I could be consistently profitable too:
https://www.myfxbook.com/files/BluePanther/Clipboard01_jF.jpg
The point is very simple
You should have well defined trading plan (or dont trade at all)
Such well defined trading plan can be always transformed to EA.
EA will always execute trades more efficiently than you
EA is always easy to backtest and even forward test than manual trading.
Mitglied seit Jan 25, 2010
1360 Posts
Jan 22, 2018 at 10:58
(bearbeitet Jan 22, 2018 at 11:01)
theHand posted:
Made Soros a billionare.
Forex can make anyone a billionaire if you know which way market will move:
Soros is on the INSIDE. He gets INSIDE knowledge on future market moves and government decisions. How do u think he nearly broke the Bank of England? Trading like a normal trader or taking EXCESSIVELY LARGE positions?
He knows what the market will do... u can be rich if u knew too.
@togr : not a publicly available EA. None of the common EAs sold for $100 will make a person rich. They are just 'sales for a marketer', not 'trade secrets of a rich trader'.
Rich traders use their brains. They have no need of an EA because they are not lazy, and can make good money without programming an EA.
