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Making Money is Extremely Simple

  • #1
  • First Post: Jan 5, 2008 8:43pm Jan 5, 2008 8:43pm
Want to know the secret to making money on forex? All you need to do is win more than you lose. Win 60 to 65% of the time , combine it with some sensible money management, a little patience, time, and discipline and you're golden.
  • #2
  • Jan 5, 2008 8:55pm Jan 5, 2008 8:55pm
The main factor is TIME. Is it worth the time? One good thing is at least the hours are flexible.
  • #3
  • Jan 5, 2008 9:03pm Jan 5, 2008 9:03pm
Quoting ChesterB
Want to know the secret to making money on forex? All you need to do is win more than you lose. Win 60 to 65% of the time , combine it with some sensible money management, a little patience, time, and discipline and you're golden.
not really, you don't have to have 60% winners. The real key is your winners must be larger than losers.. When you look at TeamAlphid performance, they're only right about 40% out of time, yet they're equity chart goes up at 45% angle..

p.s. ... but you're right, making money is easy.
  • #4
  • Jan 5, 2008 9:40pm Jan 5, 2008 9:40pm
Doesn't everyone knows that we need more winner then loosers, but problem is how to have more winners.
  • #5
  • Jan 5, 2008 9:41pm Jan 5, 2008 9:41pm
You have to just win 60% on balance ...oh , i never said it was EASY! I said it was simple
Quoting raczekfx
not really, you don't have to have 60% winners. The real key is your winners must be larger than losers.. When you look at TeamAlphid performance, they're only right about 40% out of time, yet they're equity chart goes up at 45% angle..

p.s. ... but you're right, making money is easy.
  • #6
  • Jan 6, 2008 11:47am Jan 6, 2008 11:47am
Quoting leo9
Doesn't everyone knows that we need more winner then loosers, but problem is how to have more winners.
Go back two post. Re read Razekfx !!!
You don't always become a winner by winning 80 % of the time. That is what is separating him from you.
PM him if you still don't get it.
  • #7
  • Jan 7, 2008 3:19am Jan 7, 2008 3:19am
Quoting ChesterB
Want to know the secret to making money on forex? All you need to do is win more than you lose. Win 60 to 65% of the time , combine it with some sensible money management, a little patience, time, and discipline and you're golden.

Hi
Thanks for sharing.
can you advice with a good signal provider through pm if you can..
  • #8
  • Jan 7, 2008 3:51am Jan 7, 2008 3:51am
Quoting mohshr001
Hi
Thanks for sharing.
can you advice with a good signal provider through pm if you can..
Go to the Brokerage Section for this information. And I strongly advise taking a forex class or two first.
  • #9
  • Jan 7, 2008 4:02am Jan 7, 2008 4:02am
Making money is simple, holding onto it takes patience and brains.

Learn the technical aspect coupled along with research into fundamentals and trade in higher TF's (daily). It takes alot of patience but well worth it.
Humble Lifetime Member
  • #10
  • Jan 7, 2008 4:19am Jan 7, 2008 4:19am


Whats this thread is about anyway? Discussing is it easy to make money or it is hard to make money in trading? Well, obvious that 5 min scalper is working very hard to make money and don't have time to read this post. And all the daily chart traders are making easy money and have enough free time to kill, to reply here.

So... I'm just confused why it is very hard to make money for some and so simple for others
  • #11
  • Oct 26, 2012 7:08am Oct 26, 2012 7:08am
I am also willing to make much money with simple and effective tips. This is also a reason that's why I have join this forum.
  • #12
  • Oct 26, 2012 7:34am Oct 26, 2012 7:34am
Quoting ChesterB
Want to know the secret to making money on forex? All you need to do is win more than you lose. Win 60 to 65% of the time , combine it with some sensible money management, a little patience, time, and discipline and you're golden.
yes, its so extremely easy....and its so extremely simple....

2011 - HFs: -5% in average , S&P: +2%
2012 - HFs: +5% in average ytd, S&P: +12,3% ytd

I am not going into details what kind of people ussually trade prop for Hedge Funds, but I can assure you that they are not having up to 3 years of real trading experience like 95% members of this forum.

But really nice post!! and funny.

Good luck on your "Golden" path
  • #13
  • Oct 26, 2012 7:35am Oct 26, 2012 7:35am
haha just noticed starting date of this thread....nevermind
  • #14
  • Oct 26, 2012 7:57am Oct 26, 2012 7:57am
Quoting ChesterB
You have to just win 60% on balance ...oh , i never said it was EASY! I said it was simple
You don't need to win 60% of the time. Hell, certain strategies only work 30% of the time but tight stop losses can still make it incredibly profitable.
  • #15
  • Oct 26, 2012 8:14am Oct 26, 2012 8:14am
Quoting ChesterB
, a little patience, and discipline
there's the hard part.................
  • #16
  • Oct 26, 2012 8:19am Oct 26, 2012 8:19am
Having 65 percent winning trades is average. Because you need also exit strategy the same. Lets say you have it, it has also 65 percent. So your system has only 42 percent winning trades.

Other way to trade ir in higher TF than 4H. Using risk reward not less than 1:2. Then, only then you can come with your strategy with 42 percent and try to get good expectancy of system...

So bottom point

1. You need to win more times than you loose - possible, but...
2. You need risk reward larger than 1:2

And in this case you get into second hard phase - psychological, because then you win, you feel like looser and then you loose, you feel like superman...

3. You need to do your homework before placing trade. After placing it, forget abuot that. ( Because otherwise you hunting tostesterone or adrenaline in wrong place, and adrenaline in your body acts against you)
  • #17
  • Oct 30, 2012 3:33am Oct 30, 2012 3:33am
Quoting ChesterB
Want to know the secret to making money on forex? All you need to do is win more than you lose. Win 60 to 65% of the time , combine it with some sensible money management, a little patience, time, and discipline and you're golden.
you are right. you must spend time on it, be extremely organized, and want to earn. The next very very important factor is your money management skills. and yes, you are golden
  • #18
  • Oct 30, 2012 12:22pm Oct 30, 2012 12:22pm
Quoting ChesterB
Want to know the secret to making money on forex? All you need to do is win more than you lose. Win 60 to 65% of the time , combine it with some sensible money management, a little patience, time, and discipline and you're golden.
What is this thread about? Is it about how to make money or just a thread that states the obvious? Either way, looking at all the responses, it seems to be toss up between simple and easy..LOL
  • #19
  • Oct 30, 2012 4:19pm Oct 30, 2012 4:19pm
If it's so easy, then why isn't everybody doing it? Why is there poverty in the world? Why doesn't that One Laptop Per Child in Africa comes with MT4 and a broker's platform preloaded? It's so easy after all, them pesky starving Africans can pull themselves out of that mess.
Not all sins are created equal
  • #20
  • Nov 1, 2012 2:55am Nov 1, 2012 2:55am
Quoting raczekfx
The real key is your winners must be larger than losers..
That is the Key. Managing the losing trades
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