/biz/ - Business & Finance

[Anonymous No.1477087]

- Anyone here have a successful and durable experience in forex trading ?
- What's techniques did you use ?
- With how much money did you begin ?
- Gives me advice for a beginner like me, please.

I am really sad when i read specialized forums in forex, why?
Because all the trading journal I read ends the same way :
They end up losing all their gains and have their account to 0 dollars, after 6 months or 1 year.

I need testimonials from people who really live forex successfully since several years.
http://forums.babypips.com/newbie-island/70214-truth-about-forex-you-cant-become-rich.html


I think this method is the best to learn forex or index cfd:

Depositing tiny amount less than € 200 and try to make it grow until 1000, once in 1000 reached 900 withdraw.
With the remaining € 100, try to grow them again to € 1,000, remove 900 ... etc.
Do it 10 times successfully
Instead of dropping € 50,000, losing after six months, redeposit € 20,000 and lose again after one week.

Warning : this thread is only for winner in forex market.

[Anonymous No.1477201]

>>1477087


I have been trading Forex for around 2 years. Grew a $5k deposit into around $28k now.

The first time I tried trading my account was wiped out because I made all the typical noob mistakes like not using stops, trading too often, using too much of my capital, and trading for the wrong reasons.

I consider myself to be a position trader who waits for good entry points and holds positions for weeks to months at a time. This has worked really well for me and also it complements my lifestyle as don't want to be sitting on my comp all day monitoring my trades, since I have an online biz that takes up most of my time. If I don't see opportunities worth entering, then I don't trade at all.

this is a screenshot from my TOS account, i know it's nothing worth bragging about, but it has been a nice little side hobby for me.

[Anonymous No.1477212]

>>1477087
>Depositing tiny amount less than € 200 and try to make it grow until 1000, once in 1000 reached 900 withdraw.
With the remaining € 100, try to grow them again to € 1,000, remove 900 ... etc.
Do it 10 times successfully


If you can turn $100 into $1,000, then why withdraw $900 and go even further back from where you started? Instead you could take that $1,000 and have more capital to invest. It is far easier to turn $1000 into $2000 than it is to turn $100 into $1000. One is only a 100% gain while the other is a 900% gain.

I don't know how you plan to constantly make 900% gains in Forex without taking huge risks, but if you could, then you would have the potential of making billions instead of thousands if you would compound it instead.

If you look at extremely successful traders like warren buffet, george soros, or any really successful person for that matter they all used compounding interest to get to where they are. They reinvest their capital instead of just withdrawing it.

[Anonymous No.1477213]

>>1477087 (OP)
>Depositing tiny amount less than € 200 and try to make it grow until 1000, once in 1000 reached 900 withdraw.
>With the remaining € 100, try to grow them again to € 1,000, remove 900 ... etc.
>Do it 10 times successfully


If you can turn $100 into $1,000, then why withdraw $900 and go back to where you started? Instead you could take that $1,000 and have more capital to invest. It is far easier to turn $1000 into $2000 than it is to turn $100 into $1000. One is only a 100% gain while the other is a 900% gain.

I don't know how you plan to constantly make 900% gains in Forex without taking huge risks, but if you could, then you would have the potential of making billions instead of thousands if you would compound it instead.

If you look at extremely successful traders like warren buffet, george soros, or any really successful person for that matter they all used compounding interest to get to where they are. They reinvest their capital instead of just withdrawing it.

[Anonymous No.1477233]

>>1477087
>>With the remaining € 100, try to grow them again to >€ 1,000, remove 900 ... etc.
>Do it 10 times successfully

Let me give you an example:

Your method:

100 + 900% = $1,000
100 + 900% = $1,000
100 + 900% = $1,000
100 + 900% = $1,000
100 + 900% = $1,000

Total Profit= $4,900

vs Compounding

100 + 900% = $1,000
1,000 + 900% = $10,000
10,000 + 900% = $100,000
100,000 + 900% = $1,000,000
1,000,000 + 900% = $10,000,000

Total Profit= $9,999,900

In both examples, you did 5 trades that made a 900% gain each time. The only difference is that using your method, you would have $5,000 vs $10,000,000 if you compounded.

[Anonymous No.1477468]

>>1477087
1. Trade 1 day of the month: Non-farm payrolls day (tomorrow)
2. wait for the initial spike to settle down
3. hop on for the continuing trend after a minute or two

you'll see tomorrow 8:30am EST sharp. Be ready. Train is leaving with or without you, indian forex bro.

[Anonymous No.1477485]

>>1477201
Position trader eh? I've started as a scalper and moved into intra day/swing.

I'm currently learning to see the market on higher time frames to pickyou battles for day trades and possible swing positions.

What are your thoughts on gbpusd as a position trader

[Anonymous No.1477952]

>>1477485


All of the GBP pairs are really good long-term opportunities IMO. The 2 positions im currently holding is long GBP/USD and short EUR/GBP. All of the recent data coming out of the UK is showing that the pound is extremely oversold and that Brexit has had very little actual impact on the UK economy.

[Anonymous No.1478406]

>>1477485
>I've started as a scalper

I think most noobs start as scalpers and day traders in FX, i know I did. It's a more entertaining way to trade but also the most difficult way to make money. It's probably why most people lose money in Forex.

From my experience, the higher your frequency of trading, the higher your chances of losing money is because you are also need to cover the spread.

Btw, i'm currently up over $15k in profit from GBP positions that I have been holding for over a month now.

Hoping for disappointing news for the US non farm payrolls tomorrow but regardless of it's good or bad, i'm not liquidating my positions.

[Anonymous No.1478414]

>>1477952
Yeah just recently learning about positing trading and it's looking like gbpusd is entering a an up trend a sell that huge spike yesterday was the start of it

>>1478406
Yeah it was certainly fun learning about key resistance and support levels while staring at a 5m chart. Fun times back then.

I recently started becoming profitable but had a very bad week.

You mind showing me where you entered on gbpusd? I think we're pretty close to the bottom and start of its up trend

[Anonymous No.1478421]

What are some good sites where I can practice stock trading?

[Anonymous No.1478445]

>>1478414

My average price for GBP/USD is 1.3043, I first entered at around 1.31 and I averaged down when it went to 1.28. My target price of 1.35

[Anonymous No.1478965]

>>1477468
My favourite day every month

[Anonymous No.1479378]

>>1478445
Damn nice thats about the level I was aiming for but there's some resistance on the monthly charts

[Anonymous No.1480514]

>>1477468
>>1477468
trading the reaction to this was pretty lucrative in fixed income futures too... 5yr/10 yr spreads, bund/bobl etc..

if you got a figure that was way off the general predictions/consensus beforehand then the subsequent big rise or fall would be chaotic... the yield curve would temporarily go out of whack as the outright contracts all get panic sold or panic bought... then steadily they move back into line relative to each other