Does anyone really make money off of the Forex? - Page 5
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  1. #41
    Join Date
    Oct 2010
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    I do got to agree with pip slayer on this. I know I was googleing some stuff and came across a thread from babypips and posted only to realize after the fact it was a old thread. But yes a old dead thread should stay that way. Then again it does help stop seeing the same threads being posted over and over again.

  2. #42
    Join Date
    Dec 2009
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    reno nv
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    Quote Originally Posted by pip slayer1 View Post
    apologies to all out there, I honestly didn't realise it was a 5 year old post until after I'd submitted my reply.
    You didn't cause the problem.
    When you responded, it had already been returned to the front page.

    You read, and replied as a responce.

    Mr. Gone on the other hand, has a habit of doing this.
    He's been thread necrophiliac ever since he got here.

  3. #43
    Quote Originally Posted by Master Tang View Post
    You didn't cause the problem.
    When you responded, it had already been returned to the front page.

    You read, and replied as a responce.

    Mr. Gone on the other hand, has a habit of doing this.

    He's been thread necrophiliac ever since he got here.
    Well, there are always going to be some odd ones out there I suppose. Thanks for letting me know. I did feel kind if daft once I saw how old the post was.

  4. #44
    Join Date
    Jun 2011
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    1,733
    Quote Originally Posted by Master Tang View Post
    He's been thread necrophiliac ever since he got here.
    Heheheh thread Necro??

    Who said we dont learn something new everyday??

  5. #45
    Join Date
    Nov 2011
    Posts
    2

    Default I can give you some advice now that I am starting to see some success

    Look there a few issues here.

    First of all and I do emphasize "first" is the attitude. Get this idea out of your head that you are going to become rich. You may very well be rich one day, but the idea will cause you to make bad trades. It will cause you to make bad trades that will lose that will then cause you later on to be hesitant when a good trade finally does come. If you plan to day trade then you will have to have lot's of patience. The best thing is to just stick to the 4 hour chart and higher. That way you won't be starring at your charts all day which will eventually drive you to (you guessed it) make bad trades.

    Once you have the attitude down and this may very well come with time, you need to know proper money managament(MM). Now in my opinion, the proper attitude goes hand in hand with the attitude because if you have a bad attitude then you will always violate your mm rules. A good rule throughout the industry is 2% risk per trade. Risk is the amount you will lose if your stop loss get's hit. If you don't have a sl, (which everyone should but some are very against them) then the risk is defined as the amount you will lose before you close your trade.

    The last and believe it or not the most important is the trading.. you need to find a way of trading that suits you. It might be a system but systems tend to lose over time. If I can recommend a good approach, study fibs, support/resistance, and candle formations.

    If you can get these 3 down and keep true to them for a few years, then you will be rich. Unfortunately, you will find that there are many mental pitfalls along the way and that you may never get there. As soon as I start having success I start breaking rules and I am back to where I started. Maybe not blowing and acccount but at least back to the point that i lose all of my profits. Many say though that just breaking even is the first step to making money.

  6. #46
    The forex system makes the money , your broker and anyone selling you a system or signals. If there system / signals were any good they would, nt need the money from selling , because they would be millionares
    Last edited by anyone make forex money; 01-13-2012 at 07:12 AM.

  7. #47
    Heyyyyyyyyyyy, Whats his email addy or does he publish his signals,,,,,please

  8. #48
    no only your broker,,,,ha ha

  9. #49
    Join Date
    Dec 2011
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    USA
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    274
    Quote Originally Posted by anyone make forex money View Post
    no only your broker,,,,ha ha
    I have been making money consistently for over 5 months now!

    Ofcourse brokers make money for been in the business. I mean, who else wants to run business with losing money?

    who's giving signals make money is for their service right? if that service is giving profits for their clients?

    Are you watching your TV cable for free? or how about your internet service, phone free?

    I mean, Forex is not easy, therefore, lots of people fail. However, if you study hard, take time to learn, you'll make it.
    Believe me or not, I have been learn FX since 2006 and not open my live account last year. That's about close to 5 years of study, experience, and you will make it. I'm here not to argue but just bring up my thoughts.

    Just my 2 cents, and happy trading.

  10. #50
    Join Date
    Sep 2011
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    Quote Originally Posted by nevergiveupss

    I have been making money consistently for over 5 months now!

    Ofcourse brokers make money for been in the business. I mean, who else wants to run business with losing money?

    who's giving signals make money is for their service right? if that service is giving profits for their clients?

    Are you watching your TV cable for free? or how about your internet service, phone free?

    I mean, Forex is not easy, therefore, lots of people fail. However, if you study hard, take time to learn, you'll make it.
    Believe me or not, I have been learn FX since 2006 and not open my live account last year. That's about close to 5 years of study, experience, and you will make it. I'm here not to argue but just bring up my thoughts.

    Just my 2 cents, and happy trading.
    Our experience:
    1. Opened first two accounts €10k each may 2011
    - account 1 traded down to €500 in 3 major waves. First wave was up €2,500 in two days. We were extrapolating the rate of return to a year and planning to buy Monaco. Two days later - boom! Trade went south €2,700. 1st account in negative territory. Modified strategy and slowed the rate of losses. By august, halted strategy.
    - on account 1 then started trading off fib levels on CFD for asx200. No SL but predetermined entry point for short hedging trade. Made 100% return in one month. 75% win rate. All intraday, trading off M30 and H1 with other levels as trend confirmation. Stopped trading since it took too much time but will restart this strategy in EA form later now it is proven
    - account 2 went from €10k to €10,160 (whoo-hoo!) in two months. This was long only, no leverage, equities. During this period the market was down 5-10%, so not bad. About 75% win rate again. Parked this since plan to return with leverage, EA and more time
    2. Second life: discovered FX and MT4
    - started with 8k (spent some money on ea's, indicators. Waste of time! Should have self-built. So had €10k less our costs)
    - lost money from August to October on some dumb EAs produced by others
    - October to present: every month made money

    Conclusion:
    - three months tells you nothing
    - never trust a backtest
    - it appears our new strategy works, but no one is popping champagne here until we have had a profitable year AND doubled the account in size twice
    - our prior strategies which worked on CFD and equities still intriguing and will get around to coding them later too

    Watch this space. Will post further updates on the journey.

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