Hello,
so I am new to forex. I can say that I just blowout 2k in 3 months, but I am learning. Before this I was doing forex 2 months, but because of the other stuff i gave up, and before that one month. I think the biggest problem for me is greedy and fear. I saw this photo on one mentors site, so is it possible?
Also, I am searching for a strategy that has techical analysis and indicators in it. Because this strategy that I am now trying out, is only based on indicators. LIke I can see the for example double bottom, but my indicators are not in the position for it.
Also, if I understand correctly to gain some bigger profit you need to have a bigger account?
I am a student, so I wanna have return of 500 euros a month. Now, I am afraid of the market because I lost, but I know that I must not give up.
It looks so attractive, but I dont believe in these numbers. Everything is too sweet. Its hard to get such smooth constant profit on Forex. As for me, one day I can trade 200 pips, and then gain nothing next day (or lose).
Maybe, thats because Im a beginner and dont have a reliable and well-tested strategy. But anyway, I dont believe this mentor.
The key word is trade within your means, since you have small capital then your position size has to be small, MUST have strict risk management ie. Stop loss and never give in to āmaybe i could hold on a bit more then price will go my way and give me some profitsāā¦that will be almost impossible.
And yesā¦that kinda gain is possibleā¦as i said risk management is super important, more important than a great strategy or method or system.
Itās possible, but very difficult. There will be up and down days. There will be days where you canāt seem to take a winning trade, but also days where it seems all your calls are right. Hereās a lucky streak that Iāve been on for a month and a half to illustrate. I know thatās not long enough but will give you something to think about.
Range trading intraday, tranche entries and exits, using key zones serving as support and resistance, candlestick reversal patterns, and funda. Among other things. It isnāt a proven system, Iāve only had a lucky streak the past month and a hald maybe. If I can continue this for maybe a year only then can I say it really works. Fingers crossed.
Iāll invest in him if he can do that in FIVE YEARS (turn $100 into $409 600).
Note that the figure has been converted to South African Rand @ R14 ZAR to the USD. So thatās R 1400 ZAR into R5 734 400 ZAR. Thatāll do me. Where do I sign up???
Matter of fact: there isnāt a single commercial bank here that wouldnāt invest in him if he could do that in five years let alone one.
Oh and NO Iām not the so-called mentor before anybody asks. Maybe I should look him up!!! LOL!!! Obviously Iām doing something wrong!!! LOL!!!
Iām no guru. But trying to see where my initial $3K can go. Averaged 8% a day the past month and a half, but my trading really took a turn 3 weeks ago started making about 17% a day on average. 328% in profit so far after a month and a half. Suggest you put in the time and effort and just learn to trade, itās going to be more rewarding in the long run.
Donāt need investors my friend Dale @dpaterso. Just want to challenge peopleās concept of what is possible. With hard work and passion and dedication.
Stop getting defensive. You just carry on doing what youāre doing and concentrating on the trading. Iāll worry about the marketing and client solicitation for your hedge fund. For a nominal fee of course!!! LOL!!!
In the context of this thread though: at least your gains are proven and in real time and on a real account. That table at the beginning of this thread is nonsense and not based on reality. I notice the projected date was 31 December 2017. Be real curious to know if the guy is still around let alone how much money he has actually got in a trading account right now if he even has one at all.
Not being defensive Well maybe a little. Thinking about my performance it feels like a scammer, seriously. So I guess I feel the need to emphasize always Iām not looking for investors or followers. Even my wife, mom, parents in law, friends, and sisters have said it sounds like a scam when I tell them how Iāve been doing lately.
Like I said: you have the proof. Nobody can question that. It is what it is. And itās not some demo account where youāre taking huge risks to produce those types of gains. Therein lies a big difference already. Also not some pie-in-the-sky Excel spreadsheet with straight line compounding on a DAILY basis I might add.
Sadly for you though: with those types of gains youāre just going to have to accept negativity and cynicism which is not totally unfounded to be fair. Thereās a fair sample of people around these parts and over the years that have made spectacular gains for a while and not to been seen nor heard from ever again. That probably includes me if the truth be told and I was only making 10% per month on average for a few months and with hindsight it being nothing more than a winning streak and look how that turned out eventually. Iām not saying itās going to happen to you. Just explaining why youāre bound to get negativity and that youāre going to have to deal with it and not let it affect you or your trading. And you will in all probability also find a certain amount of jealousy in the mix too. No question about that. Ask me how I know!!! LOL!!!
Itās a blip in my 2 year and 3 month forex history. Donāt really know if this can continue. Iāve read of many traders making spectacular gains and losing it all, Iāve done that myself several times even making 100% in 24 hours. So I get the skepticism. Iām skeptical myself. Just really hoping Iām doing SOMETHING right and I can figure out what that is.
Well maybe a little. Thinking about my performance it feels like a scammer, seriously. So I guess I feel the need to emphasize always Iām not looking for investors or followers. Even my wife, mom, parents in law, friends, and sisters have said it sounds like a scam when I tell them how Iāve been doing lately.