Hello everyone, I am Manoj from India. Its my first day here and happy to be here. I learned forex to earn some extra money as Lawyer in my city are not paid very well.
I am hoping to talk to you soon and learn from everybody.
1 Like
In terms of the number of profit and loss, I would say 30% profit, 70% loss.
Hi Manoj, We welcome you here!
My reason to learn Forex is very simple. I want to make huge money from this currency business in my near future. But I’ve to admit that whether it is learning or doing this business is not easy. In my eyes it seems I need 2-3 years to grasp this education of Forex. Whenever I think like this I got frustrated. Then I tell myself that it is not easy to earn money whatever the job is.
I typically did the same! Did the pre-school and started the demo. Totally agree with you as it makes more sense to do it this way.
1 Like
Is that suppose to be like a good ratio?
Welcome to the community Manoj.
Right way to approach bud. Its never easy to earn money not even in Forex. Make sure you are learning and understanding everything before you invest your hard earned money into it. But I am pretty sure, you will do good!
Right, your learning and knowledge is going to help you for your trading in Forex. None is going to be there for your loss.
1 Like
Yes and the knowledge should be unique, basically it is your trading edge that makes you competitive. And it also the reason why paid software or EA can’t work and make money.
1 Like
Can you be more specific? It takes me time to understand complex concepts
1 Like
Suppose you place 10 trades, you profit on three of them and you realize a loss on seven. Your average winning trade makes £600 and your average loss is £300. With experience, you can do smart speculations and figure out what trades can bring you more profit or less and sometime losses.
1 Like
Okay! but then you really have to be sure about what trades gives you more profit and what gives you less profit?
Yes. You will anyhow learn how to speculate the market and then plan your trades accordingly
1 Like
I work from home most of the time as a freelance content writer and I wanted to find a new way of making some extra money.
Since I’m on my computer most of the time and have the ability and knowledge of the basics I thought I would give it a go, and so far - it’s been going rather OK.
2 Likes
Alright alright. Sounds like intelligent play! I am pretty sure that I need a lot of time to be at this level.
What pairs are you currently trading?
Thats great bud. So you do actual trades?
I do indeed.
Still learning the finer points and improving my skills, trying to take things easy and not put too much pressure on myself
1 Like
You will be there. Dont worry about it. Keep learning.
I trade with GBP, so GBPUSD, GBPEUR, EURJPY
1 Like