Earn money forex trading
All of a sudden everything made sense to me, and I had much more confidence in my trading system. Thanks again for your trading insights! Hi Rayner nice to hear from you. I will make tonnes of money in Forex trading. I am not kidding. I have to make. Thanks Chandru. Without any risk…please make it clear …. And am not talking about a newbie am talking if i had abount 3 years experience to make 60 to 72 percent and if i read about 20 books and a hundred plus videos and determination patience and all am going to put effort into it.
Build your experience for a couple of years. Good Idea brother lesson first and slow movement towards a settled goal…. Plus they say.. Is being long a currency like being long a stock position… or does it expire after a period of time? Clear article. What is a reasonable expectancy though?
And by reasonable I mean what do competent traders make? Aside from the obvious how much money people can expect to make it is also really important for the psychology of expectation management. I like your examples. Sometimes i laugh a little bit on those examples. Brilliant knowledge you have. Great post. People should understand that and be more realistic. Hi Tshilidzi. Could you enlighten me and elaborate.
My knowledge store has further mitigated. I liked it very much. I was in this trading for 2 years since I lost everything I invested. But I believe that I can recover all that and for that I need your help to restart what I shut down almost 2 years ago. I am still hopeful for sucessful trading ahead.
Thank you for this article. Really its a very nice info.
How to Make Money From Forex
Thank you very much for this. My sincere congratulations. Great content here, you have a nice writing style, and certainly wonderful that you are so well versed in this niche.
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I will definitely follow your work further. I am just curious, how many traders do you do per day on average? I understand based on your post that you are a high-frequency trader since you always emphasize massive number of traders that a trader should do to win more.
And aim 2 or even 3? That was helpful.
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Or is that something different? Hi Rayner, good article. Especially when you mentioned that you need to combine the favorable risk-reward ration of at least and a good winning rate. Or perhaps you are referring this article to day traders or scalpers who executes plenty of trades a day? Pls enlighten. Or maybe you can specify what trading style are you referring to. Unless you are a gambler or just randomly put trades with no edge at all.
Thanks buddy! Their edge is already in place, like you are seeing a lot of confluent pin-bars or engulfing bars. But in Forex, you need to wait for your edge, and by the way, that edge should meet your favorable risk-reward ratio as well. So I dont really think you can trade a lot to win a lot.
I dont even think you can do 50 trades in month or even in a quarter as Daily Chart swing trader, unless you are a scalper. I enter 10 trades and I excute and profit 10 trades. I just started trading live with real money. For me its a game. I follow all the rules. I test and confirm about 10 rules before each execution. I suggest reading up on how crocodiles in wild target prey. That same mentality is exactly how to bag each profit target in forex. Watch, watch,watch then launch. Enrolment is closed now. Another very good informative article thank you Mr Rayner with your teachings I have learned a lot.
Maximum open trades restricted to 18 positions or 36 mini lots.
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I am a scalp trader. The statistics are based on Myfxbook analytics. Trading period: 82 days. Active: 50 days. Inactive for 32 days because of drawdown and stop-out margin activated not allowing to trade further. Trading Expectancy is Trading Frequency is 12 times based on the active trading activity of 50 days and 7.
Trading Strategy: Scalping for TP 18 gross pips nett Wait for Drawdown or Account Stop-Loss. Trading to stop if maximum trades cross 18 positions. With my losses mounting, I look for help the only place I know: Google. Fortunately, there are a huge number of people on the internet willing to help inexperienced forex traders get profitable.
Five ways to make money with forex
Unfortunately, most of them are scammers. There are a few places to look for help for free, including YouTube tutorials and babypips. Ultra-aspirational social media culture — think Wolf of Wall Street memes and traders posting pictures of them standing next to other people's Ferraris — has fed the idea that there is easy money to be made in forex. Scammers prey on this by offering "signals" for a fee to novice traders, or signing them up to fake trading platforms and falsifying profits.
You Really Can Make a Living Trading Forex and Here's How - My Trading Skills
They promise big returns if you follow their trading tips, but many offer bad advice or simply vanish after taking your money. He also points me to the FCA's ScamSmart page , which has information on how to spot and avoid investment scams. Searching for help, I find a number of forex accounts on Instagram offering unrealistically high profits in exchange for signals or commission fees.