Rule 1
Use proper money management than you can start to imagine bright future...
Use proper money management than you can start to imagine bright future...
1
Tell The World of Your Experience With Your Broker 8 replies
Quit your jobs and trade for a living! no commercials! :) 1 reply
Living in China, trading for a living 18 replies
Tell Me What Trade Your In So I Can Do The Opposite 38 replies
living in europe, should i have account in USD or EUR ? 6 replies
DislikedNovice traders often see trading as a way of attaining riches. After they get their head banging on the wall for enough time - and a thinner wallet - they eventually get to the humility point where they can lower their expectations and that's when they become more realistic.
Maybe if we weren't all brainwashed with the false promises and hardcore marketing of the trading industry we could all see this as another way of living a (much more) interesting life simply by making a steady and enough to live by income and refrain from the "millionaire...Ignored
DislikedI dunno. It seems to me that the thinking backing up the first of two statements is faulty. It seems to boil down to "success is found in not setting your sights too high. FX trading is about money, but not the type of money that will qualify you as rich, but rather the level of money that will give you just enough to enjoy more freedom in your life."
This seems a bit off base to me. The money in your bank account doesn't know that it's part of the "big money" that rich people have and that it needs to run away. The "kinda big money"...Ignored
DislikedNo offence but i hate such examples that people give,its like mentioning soros,warren buffet,bill gates,mark suckenberg or other people who got lucky more and had a good idea at a right time.So the example you gave its like someone winning national lottery chances are the same for someone in forex to become millionaire as winning that lottery.Read the book trading in the zone part,where the author mentions moon everyone can see it and it seems close enough but out of 8 billion people only handful made a step on it.Ignored
DislikedI recently started trading my own account actively. It's not my sole source of income but I can see it start to be a significant contributor. I studied trading diligently for about a year and a half, then I found this site. Using bits and pieces from various systems and lotssss of testing, I found something that works for me. For the past couple of weeks I have been increasing my $2500 deposit by about 2% a day on average, which according to many people on threads like this, is close to impossible(apparently) or at least going to be short lived.[b]...Ignored
DislikedDon't you think that using Trading in the Zone to be a poor base of support when putting forth a position that those who get rich at this game only do so because of luck?
I just read that book 2 weeks ago and the entire point that the author makes is that the ones who make it as traders do so NOT because of luck, but because they think in way that is different from the way that the 95% think and that their thinking produces different behavior patterns (actions) which eventually leads to different results. The statistic that a lot of people think...Ignored
Disliked... It seems to boil down to "success is found in not setting your sights too high. FX trading is about money, but not the type of money that will qualify you as rich, but rather the level of money that will give you just enough to enjoy more freedom in your life."Ignored
DislikedThere are plenty of people who made millions off of the market starting with a low amount of capital but they are not here on FF to respond to this thread, they are out on their yachts.Ignored
Disliked... I think a novice trader should first lower her expectations until consistency shows up!.. Then gradually expand to new financial levels where even the sky shouldn't be a limit!Ignored
They should be setting goals such as,
The former are performance goals, and since nobody has any control over how well the market is going to "mesh" with your system in any given month, one should not set performance goals.
The latter is a "consistency" goal, and the metric IS something that one has control over. Both types of goals have a focus and a timeframe to achieve them, but one is more realistic in this environment over the other simply because of how things are structured in the markets.