3/07/07
GBY/JPY
Entry - Sell 223.72
Result - Stopped Out By 40 Pip Dragging Stop +2 or +0.2%
GBY/JPY
Entry - Sell 223.72
Result - Stopped Out By 40 Pip Dragging Stop +2 or +0.2%
+300,000% by 2020 / Follow My Journey 330 replies
Journey from USD1,000 to USD10,000 22 replies
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The Epic Journey - $2,500 to $1,000,000 23 replies
Disliked90% of all traders lose. Retail/restaurants/services businesses all fail at a high rate.
One of the top reasons is being undercapitalized.
Do you think trying to turn a small amount into a big amount is not being undercapitalized, maybe.Ignored
DislikedMy question would be to those who say you can turn a small amount of money into a very large sum would be: Have you done it or do you know someone personally who has done it?
Don't get me wrong, I'm not a disbeliever because I'm looking to do it myself It would just be more encouraging to know of real life examples.
When I say a small amount, I'm speaking of a couple of hundred or a few thousand. When I say a large sum, I'm speaking of a hundred thousand or more.Ignored
DislikedIn trading startup capital does play a role, but by no means in comparison to why a regular business fails. Those businesses when the reason for failure is due to insufficient capital failed because their strategy could not be properly executed with the available funds.
This is akin to not being able to set the right stop loss for the strategy being taken in forex, not initial startup capital. So the failure would not be initial capital at all, but rather failure to choose an account that can be properly leveraged for the startup capital involved (micro/mini/std)Ignored
DislikedThose businesses when the reason for failure is due to insufficient capital failed because their strategy could not be properly executed with the available funds.
This is akin to not being able to set the right stop loss for the strategy being taken in forex, not initial startup capital. So the failure would not be initial capital at all, but rather failure to choose an account that can be properly leveraged for the startup capital involved (micro/mini/std)Ignored
DislikedThose businesses when the reason for failure is due to insufficient capital failed because their strategy could not be properly executed with the available funds.Ignored
DislikedPeople start businesses all the time without the necessary funds. A business does not start making money from day one. If the owner does not have the "staying power" to hang in there till it makes money, does it matter if in the end "it would have been profitable". ...If a new business does not have great cash flow in the beginning, that is where having the necessary start-up money comes in handy.Ignored
DislikedMy question would be to those who say you can turn a small amount of money into a very large sum would be: Have you done it or do you know someone personally who has done it?
Don't get me wrong, I'm not a disbeliever because I'm looking to do it myself It would just be more encouraging to know of real life examples.
When I say a small amount, I'm speaking of a couple of hundred or a few thousand. When I say a large sum, I'm speaking of a hundred thousand or more.Ignored
DislikedHi,, in my opinion.....FX is a biz, nothing more.....not a get rich quick scheme, and too many traders view it as a rags to riches route....I read many posts here while waiting for setups to occur....so many want "easy" and the latest "fad" or "system".....I "work" at Forex! I put in hours of "screen time" and I tweak the indicators that I have come to trust and also understand the best, and have studied many times over. I do not think, nor believe a trader can sit down for 1 hour a day and make big $$$. Nor even decent money, or even a living w/o putting in the blood, equity, sweat, and tears that any business owner puts into a brick and mortar type business.
Yes, I trade full time.....and pay my bills with my earnings ( they are not winnings! ) I invest in my computers and charts....though I do not pay for any guru software.....the "free" indicators" included are enough for me, and I only use 3, along with PP's, Fibs and trendlines....and I watch the fundies very close.....PLUS, I do not trade the news....I won't even enter the market til 5-15 minutes after an announcement. I also listen to ME, nobody else. Though I am open to learning....for me, simpler is better....I've seen some "systems" posted here that down right confuse the hell out of me....I have 3 1/2 years of trading FX under my belt ( 6 months prior, gearing up and learning, and a bit of Futures trading ) and YES, I blew out my first account!!!.... approaching 3 years this May as a fulltime trader. I only use approx 7:1 leveage, have gone to 15:1, though my a** starts to pucker, and I preserve my capital, as it is my business' life blood.
New to FF here, maybe in the last month.
I wish you the best.....like any biz....be capitalized and ready to work.Ignored