Forex trading - hard work, but profitable

Many people write that it is impossible to make money on Forex. Of course, from the part they are right, but there are nuances. I want to tell you how I came to this market, what I could achieve and through what difficulties I had to go through.

I met Forex 5 years ago, I completed training, started trading and lost almost all of my deposit. Do you know why? Not because I was led to a loss, but because at various courses we get 5% of useful information about the trade. So how do you make money on Forex? From my experience, I can say that you can do everything if:

- You can risk the sums of money without fear of losing them. I can do that! I close the deals that went at a loss and do not regret it, even if the price went up, but if not?!
- You must give this work 10 hours a day minimum. I, for example, can conduct my position for hours, I cannot even go to the toilet.
- What moves the prices? The whole world!
- Broker platform. On the Internet, many brokers are now represented, but you must know that many of them work inappropriately. In total, I changed about 5 brokers, now I'm working with the Golden Markets platform.
- Follow the news, analyze the behaviour of the currency on history, etc.
- Deposit. Frankly, I cannot give recommendations, you can start with any amount, how much you can decide to risk everyone himself.

Are you ready for this? You decide!

Summarized: Can I earn a million? It is possible and even more. Do not go to any courses, everything you need is in the internet, only you need to find the information you need.

Did somebody tried to trade Bitcoin on GoldenMarkets platform? Is there any slides? On currencies everything was good.

What strategy did you use to become successful? Please provide details. It sounds likes like you know what you are doing

Panfiloff posted:
Did somebody tried to trade Bitcoin on GoldenMarkets platform? Is there any slides? On currencies everything was good.

YES, lately I have been trading crypto currency also on the golden markets, works good for me.

Straycat posted:
What strategy did you use to become successful? Please provide details. It sounds likes like you know what you are doing

About strategies, honestly I tried a lot of things and tricks even was trying to develop my own script that is executing trades using some simple strategies (hedgehog for example), but lets be honest there are nothing better then searching Global trends. But with crypto you need to be careful, huge volatility opening not only possibility to win). In crypto you need to keep huge margin and smart MM, otherwise its risky.

Yes forex is reliable and a good source of income . However it is going to take a lot of time and work for you to make it work that way. in the Forex market , we lose as well as gain . one of the factors to consider is your Forex broker. if you haven’t chosen a broker, then you should research the Fx broker that you are interested in before signing up under them. A bad broker might cheat you.

Mohammadi posted:
Yes forex is reliable and a good source of income . However it is going to take a lot of time and work for you to make it work that way. in the Forex market , we lose as well as gain . one of the factors to consider is your Forex broker. if you haven’t chosen a broker, then you should research the Fx broker that you are interested in before signing up under them. A bad broker might cheat you.

Agreed! Always think twice and check all that you can. Even if i`m choosing one of them - im always doing a lot of tests on platform and of course refunds! You should spend a lot of time not only on trading and learning, you have to be sure that your funds in safe place!

bankybro posted:

Mohammadi posted:
Yes forex is reliable and a good source of income . However it is going to take a lot of time and work for you to make it work that way. in the Forex market , we lose as well as gain . one of the factors to consider is your Forex broker. if you haven’t chosen a broker, then you should research the Fx broker that you are interested in before signing up under them. A bad broker might cheat you.

Agreed! Always think twice and check all that you can. Even if i`m choosing one of them - im always doing a lot of tests on platform and of course refunds! You should spend a lot of time not only on trading and learning, you have to be sure that your funds in safe place!

It is possible to trade for living - check my profile

togr posted:

bankybro posted:

Mohammadi posted:
Yes forex is reliable and a good source of income . However it is going to take a lot of time and work for you to make it work that way. in the Forex market , we lose as well as gain . one of the factors to consider is your Forex broker. if you haven’t chosen a broker, then you should research the Fx broker that you are interested in before signing up under them. A bad broker might cheat you.

Agreed! Always think twice and check all that you can. Even if i`m choosing one of them - im always doing a lot of tests on platform and of course refunds! You should spend a lot of time not only on trading and learning, you have to be sure that your funds in safe place!

It is possible to trade for living - check my profile

Wow! Great job!

togr posted:

bankybro posted:

Mohammadi posted:
Yes forex is reliable and a good source of income . However it is going to take a lot of time and work for you to make it work that way. in the Forex market , we lose as well as gain . one of the factors to consider is your Forex broker. if you haven’t chosen a broker, then you should research the Fx broker that you are interested in before signing up under them. A bad broker might cheat you.

Agreed! Always think twice and check all that you can. Even if i`m choosing one of them - im always doing a lot of tests on platform and of course refunds! You should spend a lot of time not only on trading and learning, you have to be sure that your funds in safe place!

It is possible to trade for living - check my profile

You have a lot of good accounts. Is it possible to follow them on autotrade PAMM etc

bankybro posted:

Do not go to any courses, everything you need is in the internet, only you need to find the information you need.

GREAT THIS IS THE SECRET 😳

But there is so much junk on the internet. it is difficult to know where to start. I have looked at baby pips which is popular but still don't know about strategy

I spent money on a course with Online Trading Academy. Im not sure if it was costly or not but they did teach me things I did not know and they did teach good strategy with stocks as well as Forex. They also have a community of professional traders (verified) to assist you with the needed knowledge. They offer a free half day class that intrigued me and I eventually felt their knowledge and lifetime access was worth the price paid. I am just starting out this year, not doing very good yet (great job vontogr!!! I hope to have that sort of ability in the near future) I hope that by practicing what I learned and staying current in places like this that I will be able to use trading as a retirement source of income. I agree there is most of what I learned in class available on the internet but having the information presented in a classroom environment is what gave me the confidence to know what is viable information out there and what is crap. Investopedia is a good source of research knowledge, this site is great for statistics and data but really getting out there and trading with a practice account on a regular basis has been my greatest confidence boost in practice of the information I absorbed.

You have to change your thinking. Time is money.
If you know how to trade you spend your time trading.
If you do not know how to trade you spend your time selling shot - books, courses, memberships...

Are you a promoter of 'Online Trading Academy'? I have seen quite a few really bad reviews for that company. I read that they charge thousands just to tell you the same stuff that is available for free online

When I started trading I ready guides like this for <a title='new traders.' href='https://www.cityofhype.com/stock-market-investing-for-beginners/'>new traders.</a>

StampGer posted:
But there is so much junk on the internet. it is difficult to know where to start. I have looked at baby pips which is popular but still don't know about strategy

Babypips is one of the best site, from where users still learning about trading but if you want to learn advance trading strategies then,

- Check videos
- Participate on other forums
- Read trading tips
- Read Books

There are so many strategies out there. How can you tell the junk from the ones that work? I don't want to spend 6 months learning and practicing a strategy that I find out doesn't work anyway

*Trading for living* from Dr. Edler is still a good book.

You can check and get it going here :

https://www.amazon.com/gp/product/1118443926/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=1118443926&linkCode=as2&tag=thir01-20&linkId=3cc73d5645a462e273b7d0970bae5d00

Yes, it's an affiliate link with Amazon but the book is a very good start when you are a beginner or even advanced trader.

I based the first strategy we distributed to Mirror Trader of Tradency since 2011 'ThirdBrainFx', 'programming' a part of this book