Are you from North Korea coz that’s the best Korea!
My friend…You didn’t answer my question, MNS, …What happens when u blow the acct coz u use no SL…Do you take all winnings out every day or what?
Hey Man, my stop should be 15 pips, or 5%… Once that is hit, I take the lose for the day. BUT, im still a knuckle head, and it usually will come back to me ( price) and big drawdown, like 13%… ALTHOUGH, it should NEVER be more then 5% a day…
Im still testing some things out… I hate Java Oanda, so have to get my account a tad larger to get back to MT4 so I can use a trail-stop…
But in the end, Konan, 5% is the max per day loss limit… Which is around 15-17 pips… Its bad for me not to follow, i know, but im still working out bugs… *shakes head violently 
I think you have to be realistic - you can’t really make expect to make any money with $50, you need to have a considerable amount. I don’t make enough to live on in forex even after 18 months and I started with $10 000. Its interesting to say that you can trade well in a demo account - you should post it up and then you will have a better idea whether you can make it or not.
Good, for a second there I thought you were operating without a SL…
Depends how much money you need to live good…Pretty sure I could turn 50$ into 2K, just don’t know the exact time I would need because I’m not an intraday trader…Then take it easy and try to do 50% to 100% in the following months…20% monthly roi wouldn’t do it for you on 10K capital?
20% monthly roi would be great, but its a bit of a pipedream. I have been managing consistent gains for a while now but its still not enough for a living. As for looking after a family with it, there’s no way. I guess the opening poster is in South Korea and it is not cheap.
Got to ask, why south Korea? On the $50 entry, yes, you can start trading with as little as $10 or $20 but the catch is that you would have to opt for high leverages, more risk and limit positions. In simple terms, you will not have the same flexiblity as you might have, with say $200 or $1000…
Im an american soldier here on orders to defend south if north invades. Im designed to be a speed bump until reinforcements arrive
The army likes south korea… volunteered to come here because my wife is from cambodia… long story but it was the only way we could get through the complications of immigration and be together we were apart for about 4 years before came here and recently were reunited about a month ago. I agree by the way. its a tough spot to make work but i honestly think i can get to the point where i can afford to actually do it right. not the best way to say it but you get my point.
Thanks
Matt
Don’t worry, we are sending Dennis Rodman to negotiate!
Any spot in the world with internet access will be good enough… Yeah and keep cheerleading urself in the first months coz they are the hardest because you still don’t know what method to use exactly.
If I wasn’t hitched already I’d go to Cambodia to check whats good…Plenty of pretty girls running about, rite?!
Yeah tons of girls traditions are a bit ummm odd but yeah theres a lot of women beautiful women. My wife has a lot of single friends. also a very dangerous country politically unstable and well just a rough spot. and as far as keeping the motivation up Im sure I can do it just had a horrible day when I started this thread. if anyone is interested in talking shop hit me up in ym.
That statement is wrong, I do understand your frustration with some extraordinary claims presented here on BP, however in my opinion that statement is at least as illogical as they come.
The guy will need more capital than he currently has, he wont need 50k.
Do you think for one second that all the best traders in the world started with that amount ?
If you have the drive, passion and talent for it then it can be done.
Cheers.
Thanks a MILLION
You could make a nice living and still have room for compounding with as much as just 10 to 12k in your account. I know. I’ve done it.
It all depends on not only your trading abilities, but your practicality, and frugality;)
Most of these yahoos don’t have a clue as to what they are talking about. Nor could they trade their way out of a paper bag.
Keep a good outlook on things, and just be sure to disregard 90 to 95% of what you read.
See a correlation there?
Yep… Something is a little different between trading $0.10 pips, and even just a standard lot using $10.00 pips isn’t it?
I know Every time I adjust things due to compounding it STILL plays with my head, even though I know risk is all the same. I’m often guilty of not increasing lot sizes to the point necessary to keep my compounding up at the same level just because the new numbers throw me every time.
It’s all just a numbers game.
10% is an excellent amount to earn in a month. From a 10k account thats $1000 to live on per month and compound. Dunno what cardboard box you are living in when you say thats plenty.
yep starting to see a pattern… what it comes down to is stay focused stick to what you know make good choices and build what you have… $10 or $500 its the same game you’re still taking what you have and literally growing it from nothing to something. $10k can vanish in the blink of an eye just like $500 could so fact is pay attention use what you know.