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Why I trade Forex? Hbu?

  • #41
  • Aug 29, 2017 6:52am Aug 29, 2017 6:52am
in 2011 when i started forex, I believe it was an etoro add but ended up opening an account with hotforex back then, its was frustration from day jobs and how low it paid, just imagine the minimum wage working? but its still a job and sticked to it never the less, its the ability to work when you want and earn better than a regular job and still have all the time for family friends hobbies travel etc. thats it.
  • #42
  • Aug 31, 2017 3:45am Aug 31, 2017 3:45am
Quoting jiggz
in 2011 when i started forex, I believe it was an etoro add but ended up opening an account with hotforex back then, its was frustration from day jobs and how low it paid, just imagine the minimum wage working? but its still a job and sticked to it never the less, its the ability to work when you want and earn better than a regular job and still have all the time for family friends hobbies travel etc. thats it.

Nice to know your story! Actually, in my beginning session I was also confused about my success! That’s way, I started as a part term trader! But when I started to work on fundamental analysis then I started to make real money! Till now news trading is my favorite!
  • #43
  • Aug 31, 2017 4:05am Aug 31, 2017 4:05am
Quoting DarrenLehma
{quote} Nice to know your story! Actually, in my beginning session I was also confused about my success! That’s way, I started as a part term trader! But when I started to work on fundamental analysis then I started to make real money! Till now news trading is my favorite!
Fundamental analysis works in news trading than technical analysis. But as a newcomer it is quite difficult to ensure most powerful analyzing Fundamental knowledge which is really supportive to earn profit during news. That’s why new Fx trader always avoid news trading.
  • #44
  • Aug 31, 2017 8:12pm Aug 31, 2017 8:12pm
I think everyone starts for earning money but after falling in love with a market, we start trading just for the attraction of the market. I just love to analysis different data and get into a strategy to find the right entry.
  • #45
  • Dec 10, 2017 5:38pm Dec 10, 2017 5:38pm
It has been 49 months since I picked up my first trading book and 27 months since I learned of the Foreign Exchange Market (and trade it exclusively.) I have not really lost any money to the markets as I have been in the break-even phase for the past four years during my development as a trader. For December 2016 - December 2017, I have taken 103 trades and have ended the year in +$78 (BE). I have been surviving the markets as I develop my inner market wisdom/experience through constant chart time. You must first survive the market before you can begin thriving in it. Today, I was looking at my journal/notes from two years ago and comparing them to my recent notes and it's amazing the evolution that takes place. The notes from two years ago show my trading system changing on a weekly/monthly basis and some other flaws that new traders often make. The more recent notes shows a defined trading system that I know will have some bad weeks but I have finally accepted that this is part of the game. If your money management in intact, you should come out on the profitable side in the end. It will take years of persistency for a trader to overcome the threshold of consistency. It's all about pattern recognition and I'm not talking about the ones that are found in every technical analysis/trading book but the pattern recognition art that only your brain is able to identify from the constant chart time it has been exposed to. Your newfound perception is unique and you start becoming synchronized with the market dynamic/structure you see on a weekly basis. The day you have created/mastered a defined trading system (and have the discipline to trade it) that is compatible with your unique pattern recognition art (in the market you trade) combined with an optimal risk management is the day you will start to make money.
  • #46
  • Dec 10, 2017 11:38pm Dec 10, 2017 11:38pm
I am struggling since 8 months.....

Adding something to my equity.... losing the same in coming period..... and then again adding... and again losing....

Nothing changed so far... guess will take more time...
  • #47
  • Dec 11, 2017 8:24am Dec 11, 2017 8:24am
With this new Internet time upon us, it has adjust the playing field. Business has now open to all individuals from society and you should settle on a choice: dollar every hour versus dollar per pip. You should regard trading as a business, an exceptionally requesting one that is, however it does beyond any doubt accompany its advantages. Cash cannot purchase joy, I hear everything the time. Be that as it may, here is a newsflash, neither can destitution. Cash purchases flexibility, gives your family the best social insurance, the best nourishment, the best safe house, the best urban areas to live in.
  • #48
  • Dec 13, 2017 8:48pm Dec 13, 2017 8:48pm
Quoting dkrock
In my opinion, there are two mindsets in the world, corporate and entrepreneur. A corporate mindset desires a steady income with some security in their labor. You agree to become a pseudo slave to help someone else make money. An entrepreneur mindset desires to control a product or service and is more focused on production than income. Robert Kiyosaki discusses your income choices in his book Cash Flow Quadrant. Each person makes their own decision which quadrant to live in based on the socially engineered environment they grew up in, and their...
Like Jim Rohn said "Profits are better than wages."
  • #49
  • Dec 17, 2017 2:29am Dec 17, 2017 2:29am
... and 99.9999 % are happy to be wage earners after losing all profits and entire account to the forex.
  • #50
  • Dec 30, 2017 2:55am Dec 30, 2017 2:55am
Quoting live4x
I am struggling since 8 months..... Adding something to my equity.... losing the same in coming period..... and then again adding... and again losing.... Nothing changed so far... guess will take more time...
Yes, you need to spend more time here to learn the principle of technical and fundamental trading! Just one request, please don’t lose your learning interest too early! It’s very common to face multiple MC in the beginning stage!
  • #51
  • May 11, 2018 4:29pm May 11, 2018 4:29pm
Quoting live4x
I am struggling since 8 months..... Adding something to my equity.... losing the same in coming period..... and then again adding... and again losing.... Nothing changed so far... guess will take more time...

only 8 month is not a big deal in Fx trading , its looks a demo practicing time. LOL. so, try to keep a mentality that you have to pass a long term in here , if you want to get maximal from here.
  • #52
  • May 13, 2018 8:59pm May 13, 2018 8:59pm
Forex is only for money, every other person enters here for earning money. Struggling with the Forex always happens with newbies.
  • #53
  • May 16, 2018 7:08am May 16, 2018 7:08am
Quoting Butterscotch
Forex is only for money, every other person enters here for earning money. Struggling with the Forex always happens with newbies.
Some people do it out of boredom and/curiosity too, but I agree that the large majority do it for the money.
  • #54
  • May 19, 2018 3:30am May 19, 2018 3:30am
Quoting mlawson71
{quote} Some people do it out of boredom and/curiosity too, but I agree that the large majority do it for the money.
Honestly speaking, most of the people above all the beginner’s trader take this stock exchange as a casino , and that’s why trade at random , at the end of the day they become loser . it’s a real story about Forex trading.
  • #55
  • Jun 7, 2018 4:20am Jun 7, 2018 4:20am
Quoting Butterscotch
Forex is only for money, every other person enters here for earning money. Struggling with the Forex always happens with newbies.

I have seen most of the traders who are especially newcomers come into this market place to earn profit without learning, they trade in here at random without analyzing and become loser ultimately , of course there is a chance to earn more money from here , but you have to pass a long time in here with great patience. otherwise not.
  • #56
  • Jul 17, 2018 3:41am Jul 17, 2018 3:41am
Time is not a big deal in Forex trading , if you can ensure all inevitable part of trading with great discipline there is a chance to get success within very short time. so, it is more appropriate to ensure real trading discipline.
  • #57
  • Jul 17, 2018 4:28am Jul 17, 2018 4:28am
honestly speaking , i have never found at any guys who got success from here within very short time.
  • #58
  • Aug 18, 2018 4:19am Aug 18, 2018 4:19am
I started trading purely out of curiosity. I often heard about this index rising 30 points, or that currency falling etc. It annoyed me that I didn’t understand it, so I went about looking to see how it all worked.

I discovered trading almost as a byproduct of that. I had a nice job that I loved doing, so I wasn’t desperate to make money to get out of it like most seem to be. I also was not trying to get rich, as I realised early on (in the first week) that huge profits were possible, but you’d have to risk huge amounts of capital too. Consistent, steady profit is the answer, not fast high profits. Chasing big wins is how most traders lose all their money.

Within a year, and lots and lots of testing and refining I had developed a successful strategy. I remember clearly the moment I proved (to myself) that my strategy was profitable. There is nothing like that feeling, all the hard work is suddenly worthwhile.

But more important than the strategy itself was the fact that I now knew how to design a successful strategy. I knew what to do to go and develop other profitable strategies. That is way more important because no strategy will ever be profitable forever.

Not to sound smug or to boast, but I think that my motivation, pure curiosity and not the need or desire to make a lot of money, had a lot to do with my success. If I had been desperate to get money, I don’t think I would have had the patience to develop my strategy (and it takes a LOT of patience).

My advice to newbies is simple; trade for the right reasons and with a definite goal in mind. If you’re desperate to make big profits, you won’t have the calmness to spot opportunities, and the patience to develop a profitable plan to exploit them.

You’ll be more likely to succeed if you view trading profit as a potential small bonus each year, not a replacement for your current job. And if you make a small loss instead, it’s no big deal.

Disaster strikes traders who want to win big fast, and end up losing more than they can afford.
  • #59
  • Aug 20, 2018 1:14am Aug 20, 2018 1:14am
Quoting NathanAstel
{quote} I have seen most of the traders who are especially newcomers come into this market place to earn profit without learning, they trade in here at random without analyzing and become loser ultimately , of course there is a chance to earn more money from here , but you have to pass a long time in here with great patience. otherwise not.
anyone can make 2 or 3 profitable trades without significant knowledge but after that it is impossible to make money and ultimately he/she will end up losing his money.
  • #60
  • Aug 20, 2018 10:52pm Aug 20, 2018 10:52pm
Would I be wrong if I say that majority of traders are in it for the money. Well of course money is the primary reason for trading forex. Not to mention that trading keeps me busy in my time off from work. So it's like trading allows me to have a extra source of income and it also fills up my free time
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