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Who here is making money?

  • #21
  • Oct 19, 2007 7:26am Oct 19, 2007 7:26am
Thanks to all for sharing!

So what type of strategy, in your opinion, produces the best results... No, Im not asking for you to spell it out - just asking what works for you... ie. Price action, Indicators, News, a combination, etc..
  • #22
  • Oct 19, 2007 7:30am Oct 19, 2007 7:30am
  •  mld
  • | Joined Sep 2007 | Status: Pips Raining Cats & Dogs | 85 Posts
Quoting El Nacho
Thanks to all for sharing!

So what type of strategy, in your opinion, produces the best results... No, Im not asking for you to spell it out - just asking what works for you... ie. Price action, Indicators, News, a combination, etc..
Price action, but there's more than this, its the whole market to understand it.
mld
  • #23
  • Oct 21, 2007 9:03pm Oct 21, 2007 9:03pm
Asking traders to state how successful he is and to state what their results are to me is just like approaching a perfect stranger on the street what type of work they do and how much money they make. Trust me, your not going to get an answer from a forex trader that has been trading and is very successful. This has been asked previously on this forum.

Quoting El Nacho
Hmm interesting... I didnt think people would be so shy to share their results.

I just want to get a sense of what kind of returns are typical in Forex. Ive read many times that only 5% of people who trade forex make money, but I dont believe that. I started trading about a month ago and have made a sizable return of 8% for the month (this is not stellar, but if I can keep this up for a year, it will add up).
  • #24
  • Oct 22, 2007 9:42pm Oct 22, 2007 9:42pm
Quoting WHTenn
Asking traders to state how successful he is and to state what their results are to me is just like approaching a perfect stranger on the street what type of work they do and how much money they make. Trust me, your not going to get an answer from a forex trader that has been trading and is very successful. This has been asked previously on this forum.
I don't have a problem with people asking me what returns I make in terms of a percentage. If someone was to ask me for a $$$ figure, then yes I agree this would be inpolite.

Giving out my average percent return really doesn't tell people much at all as you can't make comparisons on this figure alone. One trader could be making 100% and only $10k a year where another trader could be making 20% and $100k a year.

Even though it's waste of time I don't mind disclosing what I make in percentage terms as it might motivate a newbie or two.
  • #25
  • Oct 22, 2007 10:16pm Oct 22, 2007 10:16pm
Everyone can make money in forex.....You gotta be sure of that.....

Use proper money management with simple trading system.... that's enough....
  • #26
  • Oct 22, 2007 10:38pm Oct 22, 2007 10:38pm
I make lots of money & lose lots of money!

  • #27
  • Oct 22, 2007 11:05pm Oct 22, 2007 11:05pm
Quoting El Nacho
Doji,

I see so much potential in this market, but with so many distractions (crazy leverage, crazy brokers, news spikes, etc) its hard to stay focused on doing what you need to do to stay in the game.
You forgot currency manipulation as well.....

Which sometimes can kill the potential.

Truthfully, the longer I do this, the more I see that it really isn't any different than any other return in a market. (Just check out manager's records.....I mean real ones, not the guys claiming 1100% last year.)

I am also starting to think it's just another investment tool. Nothing more, nothing less.
  • #28
  • Oct 22, 2007 11:25pm Oct 22, 2007 11:25pm
Thank you.

Quoting Norman1
I don't have a problem with people asking me what returns I make in terms of a percentage. If someone was to ask me for a $$$ figure, then yes I agree this would be inpolite.

Giving out my average percent return really doesn't tell people much at all as you can't make comparisons on this figure alone. One trader could be making 100% and only $10k a year where another trader could be making 20% and $100k a year.

Even though it's waste of time I don't mind disclosing what I make in percentage terms as it might motivate a newbie or two.
  • #29
  • Oct 23, 2007 12:53am Oct 23, 2007 12:53am
Quoting clockwork71
You forgot currency manipulation as well.....

Which sometimes can kill the potential.

Truthfully, the longer I do this, the more I see that it really isn't any different than any other return in a market. (Just check out manager's records.....I mean real ones, not the guys claiming 1100% last year.)

I am also starting to think it's just another investment tool. Nothing more, nothing less.
Dude, you are definetly mistaken.
  • #30
  • Oct 23, 2007 2:31am Oct 23, 2007 2:31am
well call me crazy but I believe that brokers are making money
  • #31
  • Nov 5, 2007 7:59am Nov 5, 2007 7:59am
I will be opening a live account with MBTrading in the next few weeks (so I, too, can start making some $$). Anyone have any +/- experiences with that broker you would like to share?
  • #32
  • Nov 5, 2007 8:05am Nov 5, 2007 8:05am
check out the EFX thread:

http://www.forexfactory.com/showthread.php?t=10002
  • #33
  • Nov 5, 2007 8:46am Nov 5, 2007 8:46am
Not me, I'm only losing money.

But hey, it's only money
  • #34
  • Nov 5, 2007 6:32pm Nov 5, 2007 6:32pm
After getting my 1st 2 accounts wiped out....the 3rd times the charm.

Been doing this only about 2-3 months.

Learned from prior mistakes.

Last 2-3 weeks I'm up almost 20% and I have very few losses. I also very rarely put stops...that's how I lost all my money last time...damn stops.

This is basically "scalping"...taking just 10-20 pips at a time. On a lot of them I could've gotten more (in hind sight), but I'm playing it careful.

Not because I'm a big fan of scalping, but I'm just very cautious and timid...lol

I left an overnight position open last night on GBP/JPY and got 50 pips...could've had 100.
  • #35
  • Edited 6:58pm Nov 5, 2007 6:46pm | Edited 6:58pm
Quoting saint_berzer

I also very rarely put stops...that's how I lost all my money last time...damn stops.



Not because I'm a big fan of scalping, but I'm just very cautious and timid...lol

I left an overnight position open last night on GBP/JPY and got 50 pips...could've had 100.
I am sorry but how can you be cautious and timid and NOT use stops?

It may take a 4th time to be the charm. I haven't met any successful trader that doesn't use stops in some form or another(including mental/hedging at the least-Granted I am not saying it isn't possible, but you gotta draw the line somehwere). What if you left your gbp/jpy open last night and it went 400 pips against you?

My point? Use stops.
  • #36
  • Nov 5, 2007 7:26pm Nov 5, 2007 7:26pm
I start make money now after blowing 3 accounts and learned from my mistakes.

Now i see there is no problem to acheive 100% gain per month.
  • #37
  • Nov 6, 2007 8:56am Nov 6, 2007 8:56am
100% per month?? What's your leverage?
  • #38
  • Nov 8, 2007 1:28am Nov 8, 2007 1:28am
Quoting El Nacho
100% per month?? What's your leverage?
1:200
  • #39
  • Nov 8, 2007 8:15am Nov 8, 2007 8:15am
Do you use any specific method to trade that you would like to share?
  • #40
  • Nov 8, 2007 8:20am Nov 8, 2007 8:20am
I have been trading live in forex for about 6 months and im still in the positive
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