How much have u made as a beginner?

Beginner Questions
1

HI All
I am a beginner in forex trading. Trying to understand the ins and outs of it.
I have a demo account with one of the forex brokers. I am interested in trading GOLD. I would like to know if any of you is into GOLD trading and as a beginner how much profit has one made in it. With a intial deposit of say $200, how much profit would be realistic to expect?

2

you will blow ur fist account …thats for sure… but be patient dont quit yet …cuz i blew 4 real accounts in 4 days before i became successful… so the key is “BE PATIENT”

if you have the right strategy , bit of luck , presence of mind and a lot of patientce …there’s no stopping you …

3

I love trading gold futures, but I wouldn’t recommend trading them for a beginner.

Gold moves in far more exagerated increments than the normal forex pairs.

Movements of $50 in a few hours aren’t uncommon when big world news happens. That is 500 pips. A total account wrecker. It’s rare to see a currency pair do that. Just the normal price action swings are more volatile requiring large stop loss setups, and a watchful eye.

If you can handle that, go for it. But it’s an expensive road full of washouts on the learning curve.

Cheers!

4

my first live account was 100$ and it took 4 days for me to blow it.

that´s what you can expect for this first account of yours.

it will probably teach you the most important lesson about trading: undercapitalized funds are the first step for money management mistakes. and MM mistakes is the first and last step to blow an account:D

don´t get me wrong; i love forex and i´m making money from it… but is just not like the advirtisement saids:o

5

What an absurd assertion. Way to set up a new trader for failure. Maybe he will blow, maybe he won’t.

6

i was stating a highly likely possiblity … but maybe he wont … but thats not the point of my reply …

7

I’d overestimated that statement before when I started. I’m a prime example of what happens as a beginner. Started with a $200 deposit about 4 months ago, made some gains; however now sit with $20 wondering what went wrong.

Of course, in hindsight I know what I did wrong.

My suggestion as a beginner would remain as I’ve stated before. Focus on staying PROFITABLE rather than GAINS when you start. If you’re profitable, gains will come in time.

8

I’m making profits but also losses. Usually my losses are because there is one things I didn’t consider, in hind sight. I have good money management, so I’m still in the game.

9

Hi, I’m a newbie here. I have been playing with a demo account for a few months on and off. Reading John C. Murphy and other Forex related stuff, doing the Candlestick course of Steve Nison. I am on the gain side more than the loss, but I must admit, I am making still making uneducated guess. I am not going for “real” until I feel I “know” a bit more of what I’m doing, like proper entries and exits. But I love it. I plan to do the course on this site, maybe that will me motivated to take the plunge. My gains are when I concentrate. MY losses are when I walk away to do something else because I know its play money.

10

how much have i made as a beginner? hmmm, well, i can testify to the fact there is no such thing as beginner’s luck!

11

Thanks everyone for ur inputs. Are there any DO’s and Dont’s that i should follow?

12

If you’re beginning, DO NOT trade the news. I learned the hard way haha. The big dips and drops look amazing for making money but everything seems perfect in hindsight. Makes for some healthy losses.

13

I started in July, 09. Demo until Nov. 1st, am up 9% since. Between 15 and 20 trades with no losses. (I’m waiting with baited breath for my first loss), it will happen I know.

14

Maybe ill explain my questions in a different way.

  1. I am more intersted in gold trading as there is only 1 value u need to keep track of as against Forex/ Currency trading where u need to follow two currencies. Is this good assumption ?

  2. When is a good time to buy gold and when is a good time to sell. This is a very basic question but I need to konw where I can get material/info to answer those questions.

  3. I have no idea about the graphs/charts , trend lines etc. Do I need to really understand these to make a gold trade ?

  4. When I open a real account, will I have the flexibility to withdraw my money anytime ? (say my initial deposit or some profits(if any :slight_smile: ) . Which is a better way of transacting money with the traders ? Credit cards or Paypal or any other method ?

For now these are the questions.

Thanks for your inputs.

15

By the way I am 2 weeks old on demo trading … fyi…

16

What system are you using that runs at 20 wins in a row?

17

So far not one reply with a comment of someone actually making money.

The other thread “how much have you lost” is full of comments.

Hmm…

Can it really be that difficult?

19

I agree with you on that and I have tried to make that point several times in the past since I have been a member of this forum, the market moves on fundimentals exactly as you said but I get rebuked everytime I say it, you need to learn fundimentals and the economic forces that drive currency prices, as well as technical analysis to be successful. My gains are over 400% from my initial deposit.