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-   -   How to earn money with forex? (https://www.gearslutz.com/board/life-hacks/1230325-how-earn-money-forex.html)

Seras 11th September 2018 01:49 AM

How to earn money with forex?
 
I want to try this market for the first time, tips please? Would be grateful for responses!

ejsongs 18th September 2018 03:25 PM

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

smoke 5th October 2018 07:41 PM

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.

matucha 26th December 2018 10:31 PM

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.

pencilextremist 23rd January 2019 03:39 PM

invest in solid gold instead, better investment for sure.

matucha 23rd January 2019 04:27 PM

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.

Synth Guru 23rd January 2019 06:34 PM

Gold and Silver for me!kfhkh

AndreiPiatra 24th January 2019 10:24 AM

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.