I need money fast..

[pipbull]

Originally Posted by million_dollars

I believe money is made by some secret trade techniques and gut feeling that an experienced trader gets after years of experience. The only way to learn is to trade live yourself. And I need to find these secrets fast.

The we we trade is guided by our beliefs. Unfortunately, your beliefs are going to get you into trouble and lead you down a path of excessive risk and alot of overtrading.

Think about it for a second. You need money fast so, by definition, you cannot be patient with your learning or to wait for the right trading opportunities. These are the traits you need but do not have the patience to develop. Please take the advice of the people on this thread.

[wakli]

Rather than you do this sort of gambling thing with forex it will be better to see you playing it on a blackjack table in Vegas...Seriuosly if you lost your money in Vegas at least you can have a lot of fun there rather stuck in front of your computer seeing your capital being eaten alive.....

[pipraider]

I think this is a great thread... I feel that the worst thing that can ever happen to a trader is start out making money b/c they will get arrogant and instead of realizing at the beginning that the market is a powerful force of nature; it sells pencils and pens but it also has the power to feeds huge cities. The market will not take any "prisoners", it will slaughter your account.

I feel that you seem you know better so you will most likely pay for your ignorance.

When I started trading I did not know about babypips or about any other forum, I got introduced by a bucket shop who promised me a lot.. I don't even want to talk about what happen. Here you have novices and seasoned professionals who know what they are talking about so it would be wise to listen to them unless you are that eager to loose money.

[forex_chartist]

Originally Posted by wakli

Rather than you do this sort of gambling thing with forex it will be better to see you playing it on a blackjack table in Vegas...Seriuosly if you lost your money in Vegas at least you can have a lot of fun there rather stuck in front of your computer seeing your capital being eaten alive.....

I don't know what your definition about "gambling" but don't you think that we're gamblers or gambling in trading?

[pipbull]

Originally Posted by forex_chartist

I don't know what your definition about "gambling" but don't you think that we're gamblers or gambling in trading?

My friend, there is a distinct differnece between trading and gambling that esacpes you.

Gambling is playing the game without a statistical edge in your favor. Trading - successful trading - is playing the game WITH a statistical edge in your favor

If you can't see the difference then you truly are gambling.

[Droid3003]

I disagree with majority posts.
Demo is just waste of time. I spend one year on Demo and lost all my 100 000 dollars account - only 2300 left. Then I decided enter Real trading - already two months here.
First two weeks I lost 5% of my account.
Now I winning 3%. It is not a millions or 500% a year.
My advice - don't listen anyone. All you need - to be smart and learn quick from your mistakes.
Start with small trades, if you win - make trades biger.
Develop your own profitable strategy. Watch news calendar.
It is enough to win.

[pipraider]

Why did you even bother w/ a demo account that is 100k, you should demo trade with the amount you are actually going to trade or you are not going to feel as if it was real, Metatrader4 brokers allow you to choose how much you want to start out with and so do many other brokers... you cant develop a trading strategy in a month or 2, it takes time and experience or maybe you can but I doubt it will be profitable... but maybe just maybe you might be super lucky and beat all odds.

Originally Posted by Droid3003

I disagree with majority posts.
Demo is just waste of time. I spend one year on Demo and lost all my 100 000 dollars account - only 2300 left. Then I decided enter Real trading - already two months here.
First two weeks I lost 5% of my account.
Now I winning 3%. It is not a millions or 500% a year.
My advice - don't listen anyone. All you need - to be smart and learn quick from your mistakes.
Start with small trades, if you win - make trades biger.
Develop your own profitable strategy. Watch news calendar.
It is enough to win.

[sDRs]

You heard enought of good advice from experienced traders, i will not repeat the same, only i can do is to wish you good luck if you will decide to trade and ask to let us now when you will reach yours first million line.

Originally Posted by million_dollars

Thanks again folks for your honest advise. I guess I got carried away a little. I will not go live till I achieve consistent positive results on demo for at least few weeks. But I do need money fast and I am prepared to take a risk for that. However I do not think reading books or studying endless articles, tutorials is going to help anyone make money. This is all public information and anyone can go through this. I believe money is made by some secret trade techniques and gut feeling that an experienced trader gets after years of experience. The only way to learn is to trade live yourself. And I need to find these secrets fast.


I don't know but I don't think its all like that. Not every dollar you make comes from someone else's pocket. Some profits are made due to strengthening or weakening economies of nations which can benefit everyone. Am I right?

[wakli]

Originally Posted by Droid3003

I disagree with majority posts.
Demo is just waste of time. I spend one year on Demo and lost all my 100 000 dollars account - only 2300 left. Then I decided enter Real trading - already two months here.
First two weeks I lost 5% of my account.
Now I winning 3%. It is not a millions or 500% a year.
My advice - don't listen anyone. All you need - to be smart and learn quick from your mistakes.
Start with small trades, if you win - make trades biger.
Develop your own profitable strategy. Watch news calendar.
It is enough to win.

Best of luck to you...The reason so many people using demo is they really don't wanna risk their money while searching for a suitable strategy for them especially for a rookie like me.....Just an opinion....

[Droid3003]

Main problem - Demo trading never let you create a suitable strategy - there is no real fear in Demo. Fear to loose you real money - that's important part of the game.
So don't waste your time folks, just enter live trading and try to survive!