[rugbygee]

My observations in various traders forums and discussions made understand that many traders are careless and cautionless when trading. We sometimes alow greed to rob us of our hard earned profits.Mathematically and practically, I have proved to myself that the business of forex trading is highly rewarding. Any forex trader with good focus is already a rich man.The very important things to consider first for any trader that must benefit from the gold mine of currencies are: 1. Reduce your greed level 2. Enter every trade at the right time 3. Always close the day with profit 4. Develop and Focus on your strategy5. Enjoy every step of trading.Yes, every trader cannot reason the same way, but as for me, PATIENCE has a great role to play, when I started trading I was always making losses until I discovered that I was never patient enough.I now make remarkable trades because of patience. A trader can improve on his patience level by deciding what factors will prompt him to enter a trade or even exit a trade.For example, one can decide to enter a trade at the break of a pivot point and close it after every 10 pips is made.It is highly beneficial to note that trading without making gains is like throwing fortiunes into the thin air where others are there to gather it.

[rugbygee]

Patience is the ability to wait for the right time before taking action, We cannot describe patience as keeping quiet or not taking action at all. In the world of Forex, a trader must be patient enough to know the right entry and exit for any particular trade.cheers

[rugbygee]

With patience, you can turn $500 into millions of dollars, all you need is consistent profit on a daily basis.My plan, has proven this to me.

[forexmoments]

Originally Posted by rugbygee

you can turn $500 into millions of dollars

[rugbygee]

I am a very passionate trader, I love it so much and feels I should unveil my style.My focus is mainly on 10 pips per day, you will say its conservative, but do you know that consistently doing the right variation of lots bought or sold, you can do far better than those with other strategies.

[rugbygee]

This is the right time to test the patience we are talking about, the market perception did not allow for a break of the next support line. Instead a reversal occured. Can you go ahead and take your 10 pips right now. Buy.

[rugbygee]

The perception in the EURO USD market right now is BUY.

[tenantro]

Originally Posted by forexmoments

why exactly are you laughing? i don't think he said something that ridiculous, with the right skills, patience and money management, i think it's possible.sure, it's going to take a LOT of time, but that's something else.

[rugbygee]

Yes, if you dont believe that $500 can turn into millions of dollars what do you think about tyhe figure below here. 50.00, 55.00, 60.50 , 66.55 , 73.21 , 80.53 , 88.58 , 97.44 , 107.18 , 117.90 , 129.69 , 142.66 , 156.92 , 172.61 , 189.87 , 208.86 , 229.75 , 252.72 , 278.00 , 305.80 , 336.37 , 370.01 , 407.01 , 447.72 , 492.49 , 541.74 , 595.91 , 655.50 , 721.05 , 793.15 , 872.47 , 959.72 , 1,055.69, 1,161.26 , 1,277.38 , 1,405.12 , 1,545.63 , 1,700.20 , 1,870.22 , 2,057.24 , 2,262.96 , 2,489.26 , 2,738.18 , 3,012.00 , 3,313.20 , 3,644.52 , 4,008.98 , 4,409.87 , 4,850.86 , 5,335.95 , 5,869.54 , 6,456.50 , 7,102.15 , 7,812.36 , 8,593.60 , 9,452.96 , 10,398.25 , 11,438.08 , 12,581.89 , 13,840.07 , 15,224.08 , 16,746.49 , 18,421.14 , 20,263.25 , 22,289.58 , 24,518.54 , 26,970.39 , 29,667.43 , 32,634.17 , 35,897.59 , 39,487.35 , 43,436.08 , 47,779.69 , 52,557.66 , 57,813.43 , 63,594.77 , 69,954.25 , 76,949.67 , 84,644.64 , 93,109.10 , 102,420.01 , 112,662.01 , 123,928.21 , 136,321.03 , 149,953.14 , 164,948.45 , 181,443.30 , 199,587.63 , 219,546.39 , 241,501.03 , 265,651.13 , 292,216.24 , 321,437.87 , 353,581.65 , 388,939.82 , 427,833.80 , 470,617.18 , 517,678.90 , 569,446.79 , 626,391.47 , 689,030.62 , 757,933.68 , 833,727.05 , 917,099.75 , 1,008,809.73,

[shadowninja]

Calculation on the back of a stamp suggests 10% risk per trade. It is possible but a string of drawdowns would be very painful.

In any case, yes, patience is the key. That is why I am setting more and more orders rather than instant buys. And coincidentally, my profits have gone up. Patience is the key.

[FXMutant]

Originally Posted by rugbygee

Yes, if you dont believe that $500 can turn into millions of dollars what do you think about tyhe figure below here. 50.00, 55.00, 60.50 , 66.55 , 73.21 , 80.53 , 88.58 , 97.44 , 107.18 , 117.90 , 129.69 , 142.66 , 156.92 , 172.61 , 189.87 , 208.86 , 229.75 , 252.72 , 278.00 , 305.80 , 336.37 , 370.01 , 407.01 , 447.72 , 492.49 , 541.74 , 595.91 , 655.50 , 721.05 , 793.15 , 872.47 , 959.72 , 1,055.69, 1,161.26 , 1,277.38 , 1,405.12 , 1,545.63 , 1,700.20 , 1,870.22 , 2,057.24 , 2,262.96 , 2,489.26 , 2,738.18 , 3,012.00 , 3,313.20 , 3,644.52 , 4,008.98 , 4,409.87 , 4,850.86 , 5,335.95 , 5,869.54 , 6,456.50 , 7,102.15 , 7,812.36 , 8,593.60 , 9,452.96 , 10,398.25 , 11,438.08 , 12,581.89 , 13,840.07 , 15,224.08 , 16,746.49 , 18,421.14 , 20,263.25 , 22,289.58 , 24,518.54 , 26,970.39 , 29,667.43 , 32,634.17 , 35,897.59 , 39,487.35 , 43,436.08 , 47,779.69 , 52,557.66 , 57,813.43 , 63,594.77 , 69,954.25 , 76,949.67 , 84,644.64 , 93,109.10 , 102,420.01 , 112,662.01 , 123,928.21 , 136,321.03 , 149,953.14 , 164,948.45 , 181,443.30 , 199,587.63 , 219,546.39 , 241,501.03 , 265,651.13 , 292,216.24 , 321,437.87 , 353,581.65 , 388,939.82 , 427,833.80 , 470,617.18 , 517,678.90 , 569,446.79 , 626,391.47 , 689,030.62 , 757,933.68 , 833,727.05 , 917,099.75 , 1,008,809.73,

This is true,, it is possible, but without the Dicipline and eternal patience of a buddist monk, most people will fall apart after the first loss or after 5 or 6 profitable trades. Keep in mind as well, if your scalping 10 pips at a time,, you can only go so far with a DD FCM before they start messing around with your orders.

[cruze2005]

Originally Posted by FXMutant

This is true,, it is possible, but without the Dicipline and eternal patience of a buddist monk, most people will fall apart after the first loss or after 5 or 6 profitable trades. Keep in mind as well, if your scalping 10 pips at a time,, you can only go so far with a DD FCM before they start messing around with your orders.

I Will completely agree on the patience factor. I am a trader with about 1 year experience, unfortunatly my first year took my capital pretty hard because I lacked alot of discipline and patience... however I am turning that around with good trades. I have only placed 5 trades in 3 weeks for a total net of 480 pips.

In regards to the comment regarding scalping, I have never had problems with my broker (GFT) but my capital is probably not large enough to warrant monitoring. My understanding is, and i cant talk for other platforms, but GFTs commision is through the spread. If I was to place more trades, especially at larger lot sizes, surely they would be happy as they are getting more commisions. Is that how it works or have I missed something

Max

[rugbygee]

The truth is that it is very possible to grow our fortunes like this, Forex traders are meant to be disciplined. The reason being that we are in a market where not even the best indicators can tell you outright correct direct of a price without some form of reversal candles showing up.---------In the light of this, every trader is saddled with the obligation of following a style that is very workable and achievable.---------How do you know if a style is achievable? You can test your strategy on paper before actualising it in real trades, moreover you can demo trade.For you my friends, I must tell you that mathematics, patience, consistent 10 pips(20,30 or even 40 pips dependent on individual style) is better than unguided trading style.Every step that is guided will surely bring about a desired result in good pips.Cheers

[parlenk]

It's hard for me to see u become a millionaire if you still limit ur self with 10 pips each day.im not saying it's too little or big.u should not put limit to ur self..take what u can take.that's not a greed thing.the idea to build the account by 10 or 20 pips each day sound very good maybe but in the reality it not that sound.each trade u encounter with always unique, there is no way u can limit it to a certain level, no matter what u do in the end, failure will come to visit u.so don't limit ur self..keep improving day by day..trade by trade, in skills/art of trading and on income.i said income not profit.hope u can see it.IMHO

Cheers,

[rugbygee]

I can see the beginning of an uptredn formation in Euro Usd. do you want to come along. Lets take some pips together. Buy right now.