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niceGLer
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niceGLer
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Can forex trading make you rich ?
in
General
Sep 30, 2018 at 11:12
Ok. I didn't realise that there were sell positions amidst.
Can forex trading make you rich ?
in
General
Sep 30, 2018 at 10:19
It seems that it is really difficult to get any real advice from these forums - with a few exceptions.. Why is that? Do people want to earn more money by selling their hard learned secrets of trading as a signal provider or a coach? Is it so profoundly against human instincts ? Or is it so that an expert is so rarely to be seen here? Or is it so heavily dependent on individuals and individual strategies? At least there should be some universal principles like money management and trading against major trend may be costly.
Can forex trading make you rich ?
in
General
Sep 30, 2018 at 06:21
I second you, wholeheartedly. Every time I keep my position overnight or over the weekend I get married to my losing position, and just couldn't let it go. Winrate just drops so dramatically, too.. Probably it is about which kind of personality an individual has..Better taking smaller wins and losses most of the time, and an occasional winner will do most of the profits.. Probably just like in poker.
Can forex trading make you rich ?
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General
Sep 30, 2018 at 06:13
How on earth could this work? IMO, I think there may be a serious flaw in this strategy (I don't claim to be an expert..), although there is a lot of money involved.Seems that in the snapshot presented there might be a long term upward trend, but buying in falling prices might be a bit risky, though.
Can forex trading make you rich ?
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General
Sep 26, 2018 at 10:29
I actually found it easier to keep the holding period short ie. intraday trades. But alas, I don't have time for that since I have a family. On the other hand I can't program so I just have to accept the accumulating losses while I learn trading long term...
ESMA and its implication
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General
Sep 11, 2018 at 14:55
You have a wrong approach, dude. You were not trading with high leverage, but you were discounting your salary, savings or whatever onto your trading. True leverage = trade size / account size. Now, if you want to continue with same style you should move on higher time frames. That is my conclusion of what I've been reading from your messages.
ESMA and its implication
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General
Sep 05, 2018 at 14:24
Later, buddy, later... I don't have much capital so I have to try this way. I understand that there are much more viable and less stressful long term approaches, but they are not applicable for me.I had a hunch this was.coming :)
ESMA and its implication
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General
Sep 05, 2018 at 13:33
I don't claim that it is possible to make living with a couple of hundred dollars or pounds. Maybe you had a different strategy than I. I am relying on compounding effect. Yes, the strategy used should have a high winrate.
ESMA and its implication
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General
Sep 05, 2018 at 12:15
I am currently experimenting with an account in similar conditions, true leverage being exactly 30. I wouldn't judge it as a failure right away. One should select the spots really carefully.. One problem arises, when it is time to increase lot size, and probaböy that is when the ESMA restriction hurts. Recommendation of trading in hgher time frames is BS -that is my opinion.
ESMA and its implication
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General
Sep 05, 2018 at 10:40
I didn't check what would the true leverage be with the conditions I described (took it from my memories of my trading) but my point is that it should be possible, and if this is not possible then please explain why.
ESMA and its implication
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General
Sep 05, 2018 at 10:31
So, then please explain me why is it not working? I am thinking of a situation (right in the beginning), where the trade lot size is 0.01 lots, and the true leverage is around 10, and the leverage per account is said 30. Let's say the account has a balance of $100. It is fairly possible to average 10 pips daily by short trades with a duration of less than 8 hours. That makes $20 monthly (in the beginning). Yeah, there are caveats like when to increase the lot size, and sticking consistently on working strategy. Also, there is no life other than this (or learn programming MQL4/5). But then,...
ESMA and its implication
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General
Sep 04, 2018 at 07:45
I should have added something:Maybe, just maybe, people have unrealistic expectations what is doable?
ESMA and its implication
in
General
Sep 04, 2018 at 07:44
Please explain me why it is no longer possible to make big $ out of a small trading account. If the leverage is around 1:30, and the true leverage is, say, 10 and the risk per trade is 5%, it takes a couple of years to gain $20´000. Let´s imagine that in the beginning the monthly gain is 20% and in the end it will be 10%, which allows a modest standard of living even in Europe. One should deposit a couple of hundred of bucks, and know what one is doing. Of course things take time.. ESMA is a nuisance, but I don't see it as such a big obstacle UNLESS somebody explains me exactly...
ESMA and its implication
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General
Aug 21, 2018 at 07:26
It IS tough but possible! I haven't done it but I know it. Check for the trading system data in myfxbook, and you'll see it.From them, and from my experiences I've realized that what one needs is to go to the shorter time frames. I want to keep it more like a day job. Low fluctuations in trading account balances(volatility), etc.. Hardest part is staying aside when market conditions are against trading. Every time I hold my positions overnight I start losing.A big obstacle for that kind of an approach are family obligations, a day job, or having an active social life.Those things c...
ESMA and its implication
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General
Aug 21, 2018 at 07:26
My experience about internet poker at micro stakes is that I wouldn't bet a dime on it. I think that the suspicion of internet poker being rigged is very much justified. At least the prices in forex trading can be verified. Internet poker, on the other hand, is that you can't verify if the cards are shuffled fairly to the players, even if the RNG has been audited by a third party company.Probably it is true for the forex industry that as long as one is a losing trader things go well, even more so in poker. Sponsored players are different, and probably the game is fair for them. I haven...
ESMA and its implication
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General
Aug 20, 2018 at 07:33
Warren Buffet and the other guys are a bit different, since they hardly use any leverage at all. With that capital it is about absolute gains and the gain percentage, or CAGR is somewhat secondary, if it only beats the inflation. If one doesn't have enough capital it becomes more a question of monthly gain percentage. Even with $50 one can practice the process (not becoming rich!).I think it is possible in current conditions to reach that %10-%20 monthly gains - even with the maximum leverage of 30 (which is still plenty!).
ESMA and its implication
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General
Aug 17, 2018 at 09:28
Why not?! $1k is plenty of money! One won't get stable income immediately, but within a couple of years it is possible to support oneself with that amount of deposits - even with a leverage of 30. All it takes is time, and one needs to be sitting glued in front of his monitor.. So to say, one should pick up a working short term strategy.
GBPUSD intraday vs daily chart
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General
Aug 17, 2018 at 08:49
GMT + 3. Btw, I was wrong with this one. GBPUSD seems still to be ranging, more or less.
GBPUSD intraday vs daily chart
in
General
Aug 16, 2018 at 10:53
Going for short. Sell criteria has just been met.
GBPUSD intraday vs daily chart
in
General
Aug 16, 2018 at 07:08
I would vote for short in 1hr and 4hr time frames. The criteria for a sell position has not been met yet, preferably intraday.
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