Re-joining forex

Beginner Questions
1

I tried trading before and quit for some reasons, I want to start fresh and maybe give it another go.

I want to make a GOAL and a PLAN before I start trading again. I also want to really KNOW some answers.

I want to make around 50-70 dollars a DAY, because I am on a government disability I do not have a JOB but I get paid monthy untill I am fully recovered.
I want to be able to be on my computer or laptop without constantly having to look at the graph in suspense.
The worst fear when I was trading was I would MISS the peak of profit if it was quick. Or I would Miss my
early exit to minamize my loss’s.
To beat this fear I had to look at my graph all the TIME. this acutally caused another problem which
was suspense and a patience issue.

How does a normal trader go about doing this in a balanced way?

How do any of you fill that GAP of time where the trades going from where it is to where its going to go
UP or DOWN GOAL or LOSS?

The main part of the GOAL of 50-70 dollars a DAY is I want it to be made safely.
I want to know how to accuratly go about managing my risk to profit levels.

Theres an easy way to make money in my mind using forex.
Couldn’t someone just look up forcasts? then fundamentals? then check out the upcoming news or events?
If you put them all together there should be a good “PREDICTION” and there should be a "CHANCE"
right?
To me it makes sense you could evenly balance them all to make a rough estimate that EUR/USD will
go ___ and the chances of it going there are ____ because …

You probably get the idea… From whatever % of chance you think it might be at you should then
be able to know how much money your willing to Put on that trade IDEA.

I just need some help how others go about doing this, Im sure im not thinking of everything here.

some myths I need to clear up or need to note as real or not…
Is it the traders that move prices in the market? if so how much change can we make?

How much is the government in charge of market prices? can they set things up and change it and
profit from it themselves?

Is trading just a math equasion to find a balance between risk and chances? Why hasnt someone come up
with a working equasion for this to make us more profitable?

Are there scams going on in the market to steal money away from traders?

Thanks ! so much inadvance! I want to start this the right way!

2

It sounds like the simple answer to your question is to build a trading method which is built on higher time frame entry and exit, such as 1H and greater. That way you would only have to check your charts at the end of each hour.

As for making $70 a day, yes its completely doable, you could make $700 a day. There is however no easy way to achieve this. Trading is the most competitive industry in the world. There are no other industries which have such low barriers to entry, the only capital cost to you is your bank roll (not including the time that you would have to invest). Because of this the competition for success is vast, and becoming profitable over the long term is not an easy goal to achieve, let alone quantify.

You said you have already been in this business in the past - you will know it no easy ride. You will also know that nobody is going to hand you the golden key - mainly because they don’t have it themselves.

3

this leaves me confused, are those not easy logical questions a trader can answer?

Thanks for posting but I dont think the answer you gave was at all satisfactory.

Is everyone keeping some secret/s from eachother? I dont know what a golden key is but I know
what a winning strategy MIGHT look like. its more simple then you just made it sound.

If you were going to invest in ANYTHING, a house , a business, or whatever. You would research everything
about it. you would find what moves the prices of the house’s what season is best. ect ect.

To know what currency pair to invest in forex you need to obviously find the right information to research.
Doesnt sound like a golden key to me. If you do your research and plan your moves then you should be right
more the wrong.
If your wrong expecially if your more almost always wrong everytime even when researching then your not searching and doing the right math or just looking in the wrong place.

Someones making money off forex, LONG term. Why would forex be popular if there wasnt anything but GAMBLING involved for/in Everyone that trades?

I cant see it. theres only so much you can do to make a right trade.
You really cant do much other then research and make an informed choise with a good calculator to give you an idea
of how much risk and how confident you should be in that trade.

Theres only 1 golden key that gives success and thats cheating, KNOWING whats going to happen with some PSYCHIC ability. or Having some inside scoop on a conspiracy that magickly changes and a hand full would have to have some
subscription to it. Doesnt make sense. theres far more successfull people in forex then there are black market conspiracy traders.

Sorry to be so blunt but yes I am rambling right now and VENTING.

Theres an obvious way to calculate the trade risk on prediction and the rate of success it usually has. It doesnt seem like a secret key to me but it looks like people are even trying to COMPETE for the money and success like you said.

Maybe not the same way you mentioned… more of a conspiracy to kill a newbys heart of becoming successfull.

How can 1 become competive at forex? my money in my forex account doesnt and never will be affected by another
trader even if I told him how to be psychic and see the future result I would still make my money so would he.
Unless we all become precognitive then… yeahh… Time would stop. haha.

Anyways nothing personal, just some things I think need to be noted, and not forgotten or looked past.
I sure as hell am not going to become successfull if I dont think for myself here…

4

the secret is patience, there, enjoy, now go rock the forex world

5

Im going to tell you this, right now, and you might be the 2nd i have ever said this to,

Your going to fail in Forex, so just forget it, go find something else…

You got HONEST info and your flaming him?

You dont know how to listen, and take informaton, and explore yourself, and forex is about adaptation and problem solving, and I just dont see it happening,

Try customer service, like a cell phone rep or something…

7

Actually i’ve just read the first post again, and in all due respect it’s kinda funny. Probs one of those posts that will make the top list of 2012.

The issue is this, each and every trader faces the same issues that you are facing, they all have the same insecurities and trading instincts. But you already know what they are as you have listed them. The true answer to all of them is that experience will play a key role. What works for me may not work for you, we as traders all have very different risk appetites, and you have to understand this.

The fact your asking how to make 70 pips per day, and then go on to state that you feel its actually very easy when considered logical makes me think “why the heck is this guy not testing out this theory to get the answer him self”. The benefits you will derive will be huge. So attempt to solve your questions noted in a logical fashion.

No single person here, or anywhere else will give you the same answer as we all think differently and have varying approaches.

I hope you recovery from your disability, but get off your arse and learn the ropes like each and every other person has.

8

The winning strategy is composed of winners are bigger than losers, patience, risk management, discipline, common sense.

What works for me is that I do not need to know what moves the market, I just trade based on what I see. The reason I stay away from fundamentals is that I have no idea where I place my stop loss. Can you quantify where the stop loss should be due to what is happening in Greece, US, Japan, etc? I can’t. One of my cardinal rule is never enter into a trade where I do not know my exits.

What works for me may not work for you, so find your style that suits your personality.

10

Like I said, I trade on what I see. Each to their own.

12

Why would you skin a cat?

14

i do, pure black cat, pure black rabbit, and a pure white dog,

16

lol,

Na, the cat is cool, its a chick cat, she is an jerk tho, great with kids, but just a jerk… Just not a people cat,lol… Likes to be petted on her time,