how old are you

jonesgrif · #11 (**permalink**) 03-10-2007, 01:46 PM

At 19, you probably can't afford to lose that much of your hard earnings, do you believe forex is the way to get rich? There is so much risk,(90% fail) if you can't deal with loss, or afford loss, please be careful, and don't just listen to wild stories about 180 PIP wins, and 40 PIP per day wins, it's not easy at all. I won at demo's but real cash is tougher. Live long and PIP alot!

shadow · #12 (**permalink**) 03-10-2007, 02:46 PM

Quote:

Originally Posted by jonesgrif

At 19, you probably can't afford to lose that much of your hard earnings, do you believe forex is the way to get rich? There is so much risk,(90% fail) if you can't deal with loss, or afford loss, please be careful, and don't just listen to wild stories about 180 PIP wins, and 40 PIP per day wins, it's not easy at all. I won at demo's but real cash is tougher. Live long and PIP alot!

180 pips wins are possible, of course with long term. usually holding anywhere from 1 day to a week. For instance EUR/JPY can make a 300 pip move in one day. In fact some people might even have these large moves as their target, since they have such wide stops(of course you have to learn to have the tolerence to not take your profits early). However, this may not happen often. In saying that yeah, it's not a cakewalk, as once quoted "trading is ten months grind and two months gravy". But with anything there are struggles, it's about overcoming them.

Stay Cool, Take it Easy!

halo3plz · #13 (**permalink**) 03-10-2007, 03:36 PM

good posts everyone.

keep it goin. how old are you?

is anyone 40+?

imm0rtal · #14 (**permalink**) 03-10-2007, 03:39 PM

Quote:

Originally Posted by jonesgrif

At 19, you probably can't afford to lose that much of your hard earnings, do you believe forex is the way to get rich? There is so much risk,(90% fail) if you can't deal with loss, or afford loss, please be careful, and don't just listen to wild stories about 180 PIP wins, and 40 PIP per day wins, it's not easy at all. I won at demo's but real cash is tougher. Live long and PIP alot!

Thank you for the words of caution. I understand perfectly what I am getting into. I've read about how tough Forex trading is and how many many people get burned all the time. But I have decided I won't let that deter me. I know the majority of businesses fail too, but I have been successful in running my internet marketing business, against statistics, against all odds because I put in the sweat to make it work. If the same can't be done with Forex, then why would anyone waste their time with it? I will be a smart and patient trader, I will make it work.

To answer your question of if I believe Forex trading will make me rich, I will say yes, it will help, when I learn how to have more profits than losses. Adding an extra income stream will always help. I know I will most likely lose a lot of money in the beginning, but that's part of earning my stripes. I lost a lot of money in internet marketing before I started making $XXX/day in profit. I'm sure the same is true for Forex. In short, I am up for the challenge.