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How to earn money with forex?
Old 11th September 2018
  #1
Here for the gear
 
Seras's Avatar
 

How to earn money with forex?

I want to try this market for the first time, tips please? Would be grateful for responses!
Old 18th September 2018
  #2
Lives for gear
 

forex is very risky but i've known people to earner over 20% in 6 months. its a full time gig and it very volatile. its not a set and forget type investment and it needs to be watched daily...actually minute by minute.

ej
Old 5th October 2018
  #3
Lives for gear
I researched FOREX trading years back when I was unemployed.

It turned out, for me, that the investment of time did not match the monetary return. You really need to be on top of currencies.

Without giving direct advice here (because I actually do not suggest doing this) - what I ended up doing was opening a TD Ameritrade account and found a handful of companies I was familiar with and made some small investments. Win some, lose some, basically.
Old 26th December 2018
  #4
Here for the gear
 

I have heard of traders on other forums talk about how taking a break will help them also....

does this go against what I say by never giving up? NO, it means if you get really frustrated and confused, then it MIGHT be a good decision to walk away for as long as you need to knowing that you will come back..... The market will always be here....

but here's the deal:
1) I have never taken a break from forex (2years) so I can't say if it will or will not help you.

2) when I was in the position of questioning,,,, asking the same questions as you are......."what if it is really not possible to make a living from forex?" and that type of thinking.... I was ready to give up. But I know in the back of my mind that I can not give up because I have spent over 1 year already... So I just keep going,,, being very broke......... there was actually times that I felt like throwing my computer screen and being very mad, lol, so It is possible that taking a break would have been good for me at that time, on the other hand, the fact that I kept going (demoing, trying new systems, ect...) eventually lead to experience under my belt that is now usefull in my trading now.

so it comes down to you personally,,, either keep going or take a break,,, one of the two,, BUT NEVER GIVE UP

I am only on my first month where I have made money good enough to live from,,, first time in 2 years,, there have been 3 other months that I have made money at trading but it was not consistent so I do not count that,, but this is the first month I did good enough for living, and the only thing I can say that matters the most is waited patiently for the right trade and only traded when I was felt confident and refrained from placing a trade that I was unsure about. and that only comes with experience of being glued to chart... (remember folks this is just my opinion and my personal trading experience,, please do not take this as advice since I have only one months profit and am not expert)

Lucky Patcher 9Apps VidMate
Old 26th December 2018
  #5
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matucha's Avatar
Most traders loose.

You're going to compete with people that are doing it many many years.

You will suck for a long time and probably forever.

Are you prepared to loose money for a few years? Do you have money to loose so you can learn?


If you still want to try it, you may want to look at crypto markets. It's (maybe) just about to bottom out some time in 2019. Bullruns in bitcoin and altcoins are pretty remarkable. ...and dangerous as it's 99% scams. At the craziest points you get like 100x gains on some random pump'n'dump worthless garbage. People chase that (preferably on leverage) and loose. For trading it's said that crypto is more predictable because there is more dumb money in it than in any other asset. But even then it's hard to earn money by trading it in a long run. When bear hits the market, it's deadly for all the geniuses that thought how clever they are based on the crazy gains, leaving them with heaps of 98% losses.

Last edited by matucha; 31st December 2018 at 07:50 PM..
Old 3rd January 2019
  #6
Here for the gear
 

Thanks
Old 23rd January 2019
  #7
invest in solid gold instead, better investment for sure.
Old 23rd January 2019
  #8
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matucha's Avatar
Trading is quite a different activity than investing.

Gold... either it breaks with confidence above $1360 (~3 years long resistance), then FOMO in. Or it breaks down and then you can try to guess the bottom, one logical place (resistance) would be around $800-1000. Before one of these happens it doesn't make sense to risk your money.

BTW silver looks really bad. Gold at least makes higher lows, silver is in big descending triangle.

2019 will be quite critical for bitcoin, if long term patterns hold it should find bottom this year. $1800? $1200? Wick to sub $1000? If that doesn't hold, things will get very ugly. While making anti-bitcoin people very very happy . If it holds and another bullmarket forms... oh well.


Be very careful.
Old 23rd January 2019
  #9
Gold and Silver for me!
Old 24th January 2019
  #10
Lives for gear
 

I would advise people to invest their time in actual skills, learning a new language, how to repair a car, how to code, because in trading you are not and you'll never be in control unless you are one of the top-dogs.
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