Most of the people fear about forex trading to lose every thing. But i don’t think so. I like manual trading. Before real trading, practice more and more in demo account. And practice for a particular currency pair. I recommend to trade with EUR/USD. Follow my strategy , you will never lose. Double your money in every month. Guaranteed.
Suppose, you wanna start trade with $100. Always split money into two parts. One part is for sell/buy and another part is recovery money. That is,$100 ($50 + $50). $50 use for sell/buy. $50 keep it as your recovery money.
News + Chart + Prediction is the key to success for forex trading. Your prediction level will be stronger with proper practice for a particular currency.
Don’t trade everyday. Trade only when the chart nature looks good.
Trade when pip fluctuate rate is high.
Trade when currency pair quickly up and quickly down and up-down continuing.
If you proper practice with EUR/USD , then 90% prediction will be correct. Whenever your prediction will not correct , close order within -10% to -15%. Don’t worry about this little lose. You will surely gain 30% to 50% next time.
By this way, you can double your money every month. So, $100 will reach you more than $200000 within 12 months.
Even though I never trade using the news. I have read that the Bank Traders or the forex traders who actually trade with big amounts using the money from the actual bank use the news. The secret for their success are services which provide the news to the bankers before they are publicized. So the bankers who trade forex with the banks money, actually already get to know the news before even they are on tv or newspaper. I dont know more about it but if somebody know any services like that please let us know…
to be able to do that you need to be really good. and to be that good you have to practicing for a long time and if you have been practicing this for a long time you sure as hell don´t have 100 bucks in your account and start from the scratch. It could be an experiment for a very skilled trader to prove something. But again why should he do that? Whats the point? Most of us will never achieve this high level of trading and the few that get there will not throw away one year of hard work of their life.
Dunno just my two cents.
You need money to make money. Investing is not gambling.
You will loose you $100 in a matter of days or minutes.
Do yourself a favor, do not try with a 100k account before you fully understand money management
And for your education, try to determine how much time you need to recover a 50% loss.
typically, you don’t loose 1,920, right off the bat. so first you have to have like 3-4 months of losses so that the 10,000 or 8,000 is about 2,000 total.
Then, you just get drunk enough and bold enough, that you maximize your leverage on two or three “sure wins” - and by morning // / / / // you will most likely have $80.
There are many softwares systems which can intelligently make timely decision automatically based on the Forex trading.As Forex trading system has become so complex so that these are developed to take control your business 24 hours a day and 7 days a week.It makes the trading more efficient and more risk resistant.
I turned $288 to $250,000 in 5 months with penny stocks… And my trades are verified on this website with my broker: profit.ly/user/AndyL
I want to do the same thing with forex. In my opinion, it is much harder than penny stocks, but nonetheless it’s possible. My new goal is to hit $1 mil with penny stocks, then put $100,000 into a forex account and compound it lower risk. 100% isn’t hard for me in forex with a smaller account, but I get greedy and try for that in a week. 100% a month on $100k would satisfy me, even 50%.
Anyway, I have a chatroom on Skype if you or anyone would like to trade penny stocks with me - my username is andrewwlapp. Just add me on there. We can do some forex trading in there too. It’d be fun to get a group of traders together for penny stocks and forex!
“Chart nature looks good.” vague advice $100 to 200000 but certainly in the right direction.
Waiting for the right time is the hardest part imo, it’s a cousin of discipline knowing what signs give you comparative advantage and waiting for those signs over 12 months would lead to decent profit. However, emotions of loss, (fear, anxiety, etc) or if your getting better at implementing your strategy the emotions of profit, mostly greed will lead to over trading, sleeplessness, “you might be missing something,” will lead to abandonment of your hard practiced strategy in those heated moments in the trenches late at night or early morning… the psychological abilities are learned over time (years) but emotions depending on the leverage, what’s at stake, will test your discipline and patience. The other important trick is to build small losses into your strategy and cutting off losers and letting winners run, easier said then done obviously. Negative Emotions come from neediness and fear, do not quit your day job. Good luck everyone and happy holidays.
