Questions

Well, I think most completely “new subjects” probably look complicated, at first? We’ve all been there. Nobody was born knowing how to do this stuff, so in that sense I think it’s probably “normal” for it to look complicated; yes.

As Tommor says, the [I]trading itself[/I] becomes fairly simple - it’s more the [I]learning-curve[/I] of becoming able to do it successfully that’s complicated and time-consuming: according to Dr. John Borman’s research into this “learning-curve process”, the typical/average time-period for “getting it” is something like 3 years, so you might think of the typical forex-trading learning-curve as being roughly equivalent in terms of duration to a college degree? But I’m sure it varies quite a bit, too.

I’m also a newbie and I think that if you’re looking for what’s pleasing then Trading isn’t for you.

If one guy has an opinion about something (“the only way to be a millionaire off forex is to be a billionaire”) It doesn’t mean that he’s right. How could he possibly know that only billionaires win in Forex? Can’t he think of anyone (who isn’t a billionaire) who is successful in Forex ?

Everyone has his own biases. Don’t believe what other people say in forums unless they give you a good reason/proof/logic of what they’re talking about.

The failure rate in Forex seems scary BUT it’s about the same as the failure rate in startup businesses! Should people be scared to start a business ?

Most people (+90%) fail in about everything worthwhile !

You want to make 30£ on each trade. Does that mean that you want to win every trade (100% win rate) ? That’s highly improbable, especially for a newbie !

I think what was meant wasnt that only billionaires can succeed, but that the only way to become a forex millionaire is to start with a billion and lose most of it, leaving you with just a million

Lexys post r power!!! Really enjoy reading it.
Hope I don’t miss out anything??? yeppy…

Trading is not a game. It also not a job. It is a business, it your very own business. Will u start a business when u not familiar with the kind of trade u want to do? I’m sure u don’t want get busted in your pocket buddy. And forex is a kind of business which u also must hv interest in it. The more interest u have in it, the more u want to know more about it, understand it and conquer it. Less speed u b smooth. Cheers***

I have ÂŁ300 max capital to invest into a account, what can I expect from this?

If you learn how to trade, practice on a demo account for some time until you are sure you have a strategy that works, a good return would be 5% per month - doesnt sound much but when banks are offering around 1-2% a year its actually a lot better

If your return is 5% per month (which seems very little), then you can expect your 300ÂŁ to be +1,000,000 ÂŁ in 14 years !

Or 1 Billion ÂŁ in 25 years. Or 1000ÂŁ in 2 years !

That’s called Compound Interest.

Also called ignoring tax :wink:

Yes 5% a month return seems very little. “Seems”…5% appears to be little but actually it is NOT ! You said it yourself in your previous reply “doesnt sound much”.

Maybe words like “seems”, “sounds” mean different things to us ! We all meant the same thing.

However, I don’t know any place where one can get a better return than 5% a month.

Im with you now. I hate the Internet, so easy to misunderstand others

Yeah ! Especially if English isn’t everyone’s first language :stuck_out_tongue:

Wahahahaha lmao laughing my Ass off

If you get as far making a steady-ish 5% per month (which, undoubtedly, a [I]very small[/I] proportion of aspiring traders eventually manage - it took me many years - you might be faster?), then about ÂŁ15 per month.

[I][U]Key concept[/U][/I]: the primary aim of trading with £300 shouldn’t be to make a lot of money from it, but to gain experience, practice and education, until you’re confident of being able to trade steadily without losing money.

Long-term, successful trading isn’t about profit maximisation: it’s about risk-management.

The development of risk-management skills isn’t trivial, for most people, most of the time, because it depends on acquiring some working knowledge and experience of probability and statistics, which are themselves non-trivial and rather counter-intuitive subjects.

Sorry if this comes across as disparaging or pessimistic, but “it is what it is”.

The realities predicate that nobody’s going to get rich from trading forex with £300, and at least 99% of those who try to get rich from that amount are probably going to lose most of their money.

ps …
you can always find exceptions, if you just know where to look

why? share the joke

I’m not trying to get rich off it, I just want a little bit of money.

Slowly buddy. It take mi 3 yrs on demo. After tat start real account. My hand shake even when I start on demo account. It take time… Forex is your business have to manage it slowly n carefully.

Yes, everyone also just want a little bit of money. But seriously u really need to discover yourself. What kind of trader u want to b. And u also really need to come up with a strategy that suit u best. Just to share with u a example. This is my trading platform. My strategy may look complicated and disaster to u. But it suit me. My strategy is hunting for price reverser. So every trader trading habit is dif, so u have to find the best that suit u most.



I’m trading with 2 currency pairs.

Fair enough, of course. And good luck! :cool:

I have the habit of sounding “cautious” about questions like yours, in the forum, simply because I know that many people have very unrealistic expectations about what they’re likely to achieve through forex-trading, and how quickly they’re likely to achieve it: it seems to me that many people greatly [B][U]over[/U][/B]estimate what it’s possible/likely to achieve quickly (but they also perhaps tend, overall, to [B][U]under[/U][/B]estimate what it’s possible to achieve slowly, with patience, discipline, education and practice).