Is it possible to beat a Grandmaster playing chess on-line?
Of course it's possible. :nerd:
But would you risk $10000 on the outcome?
Of course it's possible. :nerd:
But would you risk $10000 on the outcome?
Can you get rich quickly from forex trading? 389 replies
Will most Forex brokers even allow you to become rich? 6 replies
Can you trade forex to earn money to buy an apartment? 107 replies
Honestly frustrated with trading forex 161 replies
Help needed - Honestly, this is not a zero-loss system 10 replies
DislikedOf course forex is a cash cow. But that depends on your ability to trade with consistent profitability. Well IMO forex is not for everyone.Ignored
Disliked1) keep your day job and trade part time on demo account.
2) keep studying the right things and don't ever stop studying while trading part time on demo account.
3) once you've found your system, mastered your MM and mindset, trade part time until you double your demo account.
4) keep trading part time until you can pay all your monthly bills using your profit alone while maintaining sufficient balance to keep trading. At this stage it's a matter of using bigger lot size to trade.
5) you now have the option to quit your day job and trading full...Ignored
DislikedIs it possible to beat a Grandmaster playing chess on-line?
Of course it's possible. :nerd:
But would you risk $10000 on the outcome?Ignored
Disliked20% growth compounding per day is only 8 pips a day for my current way to trade. .....
I currently trade at 2.5 lots per $1,000 equity. My broker does not bust out trades when free margin gets to zero; rather they only bust out trades when 80% of equity is gone.
......
I 100% hedge at minus 10 pipsIgnored
DislikedAgreed, there's no definitive answer when it comes to PA, every mentor would have his or her own take. But usually, after months of hard work, you should be able to work out the basics of PA, develop your own strategy etc. The point being, when it comes to trading, you must be 100% committed to it - no half measures.Ignored
DislikedIt's going back to the simple risk and return principle. Higher risk means higher return, no matter what calculation you put in it. They are not the same, but my point is, like Coopa said, in order to get 5-10% profit to possibly cover your living expenses, you have to risk more than 1-2% per trade. It's conventional wisdom, and you should know better that conventional wisdom in trading does not work, otherwise the stats would be the opposite, 95% winners and 5% losers.Ignored
Disliked@Ishtana,
Make 20 Pips a day, but make it regularly, +20 Pips a day and always maintain 2% risk ratio.
You will be able to make a living and get rich, too.
Yes, you must build up your investment capital, thus you can not give up your daily income source.
When you have reached, say, $100 000 life will be much nicer, even at 2-5 Lots.
Not to mention 10 Lots.
Not sure wheather You are getting the risk ratio right.
Assuming 100:1 leverage, which seems reasonable.
If you are playing 1 Lot it means 1 Pip is worth $10, right?
So, let's say your SL...Ignored