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Ways to earn with Forex without capital?

  • #1
  • First Post: Apr 2, 2011 8:00pm Apr 2, 2011 8:00pm
After 2 years of trading and trying to develop my own system , I got what I want and it's profitable and suitable for me , but I don't know how can I earn million dollars without a > 5000$ capital though now I can trade profitable well . Any suggestions or solutions ? What will you do once you mastered trading ?
NOTE: I just want to know more about ways to earn by trading without a large capital , I'm not going to sell or share my own strategy or looking for investors here at this topic , so if you have something that can share for discussions , I'm appreciate for your help .

Best Regards
  • #2
  • Apr 2, 2011 8:27pm Apr 2, 2011 8:27pm
how about demo contest? I was going to mention signal service, prop firms and ect... until I read your last sentence

so maybe you will win big at a demo contest
  • #3
  • Apr 2, 2011 8:36pm Apr 2, 2011 8:36pm
sorry wrong post
  • #4
  • Apr 2, 2011 8:48pm Apr 2, 2011 8:48pm
Thank you for your suggestions .
I didn't know about this , I just saw some demo trading competitions and its prize is around 10-50$
Do you know what brokers offer demo contest or Real contents ?
  • #5
  • Apr 2, 2011 8:59pm Apr 2, 2011 8:59pm
i think can start with a micro account.,
start trading 0.01 lot and slowly increase the lot size when the capital increase?
the down side is this will take some time
  • #6
  • Edited 9:38pm Apr 2, 2011 9:11pm | Edited 9:38pm
Quoting HoangTuan
Do you know what brokers offer demo contest or Real contents ?
Instaforex has multiple contest going on at any given time. The weekly contest offers up $500 to first place (not bad for demo)

Ibfx has a real money contest,, this might be weekly also, i forget, but I think the reward is $1,000 for first place....

I just googled "forex contests" and this is the first one that came up:http://www.forexturtle.com/lists/trading-contests.aspx

there are many sites like this one,,,,

you will be surprised how many brokers offer contests, I know I was

(oh ya, and I entered an instaforex weekly contest about a year ago, and i did so good that they paid me 1 million dollars instead of $500!!!) just kidding, i lost
  • #7
  • Apr 2, 2011 10:36pm Apr 2, 2011 10:36pm
Quoting tim112779
Instaforex has multiple contest going on at any given time. The weekly contest offers up $500 to first place (not bad for demo)

Ibfx has a real money contest,, this might be weekly also, i forget, but I think the reward is $1,000 for first place....

I just googled "forex contests" and this is the first one that came up:http://www.forexturtle.com/lists/trading-contests.aspx

there are many sites like this one,,,,

you will be surprised how many brokers offer contests, I know I was

(oh ya, and I entered an instaforex weekly contest...
Instaforex site and its ranking look quite good , but I saw many negative reviews about this broker , did you try it before ? Is it worth to trade and can you withdraw your profits ? Any cheating actions in news or high volume time ?
  • #8
  • Apr 2, 2011 10:37pm Apr 2, 2011 10:37pm
Quoting HoangTuan
Instaforex site and its ranking look quite good , but I saw many negative reviews about this broker , did you try it before ? Is it worth to trade and can you withdraw your profits ? Any cheating actions in news or high volume time ?
Sorry HoangTuan,

I have only tried this broker in demo, and also in demo contest.
  • #9
  • Apr 3, 2011 12:16am Apr 3, 2011 12:16am
Quoting HoangTuan
After 2 years of trading and trying to develop my own system , I got what I want and it's profitable and suitable for me , but I don't know how can I earn million dollars without a > 5000$ capital though now I can trade profitable well . Any suggestions or solutions ? What will you do once you mastered trading ?
NOTE:...
Get like 100 credit cards and then max them all out with cash advances. Get around 50-100K in the bank and trade away my friend. If that is to risky (or just plain insane), then you can work and save for your 'grubstake' and use that, maybe get a second job. Or you can take what you little you have today and build it up over time. Only other thing I can think of is to borrow money from family or friends.

Of all the options, saving for your 'grubstake' is probably the way to go, in the mean time you trade a small amount and get more experience.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #10
  • Apr 3, 2011 1:20am Apr 3, 2011 1:20am
Quoting LasVahGoose
Get like 100 credit cards and then max them all out with cash advances....
Thanks for your experienced suggestions , I will consider and look for some suitable way to get rich slowly from now .

Good Trading
Regards
  • #11
  • Apr 3, 2011 1:49am Apr 3, 2011 1:49am
In regards to trading contests, most of them reward you money you can only trade, or withdraw after a certain volume of trades.

I recently did the math on the Dukascopy contest, where 1st place is $5K. If I won, and traded that $5K the way I trade, it would take me 18-24 months to meet the minimum round-trip transaction volume required before I could withdraw the money.

So it's hard enough to win the money, and even harder to keep it.
  • #12
  • Apr 3, 2011 2:09am Apr 3, 2011 2:09am
Quoting Low
money you can only trade, or withdraw after a certain volume of trades.
good point, I forgot about that part, you can only trade with the money you win,,,,,,,,
So ultimately you might give it back and end up losing afterall. You would have to win twice in a row,,, first the contest,,, and then in real life, trading with it successfully,,,, Although it can be done,,,

What are some of your guys' opinions on no deposit bonuses?
besides the fact that you have to trade a certain amount of volume in order to withdraw......

I mean, honestly, let's say that you receive $100 no deposit broker bonus. After a year, let's say you have turned it into $300 and you have met the required trading volume and are eligible now for a deposit.

Do you think that broker will allow you to withdraw this money?

I think they will allow you, I mean, why not? But then again I have an optimistic view when it comes to brokers, and I generally do not subscribe to the "broker is out to steal your money and give you false price feeds" conspiracy theory.

I'm curious to see what some of your opinions are regarding the no deposit bonus.

~Tim
  • #13
  • Apr 3, 2011 3:18am Apr 3, 2011 3:18am
Quoting HoangTuan
After 2 years of trading and trying to develop my own system , I got what I want and it's profitable and suitable for me , but I don't know how can I earn million dollars without a > 5000$ capital though now I can trade profitable well . Any suggestions or solutions ? What will you do once you mastered trading ?
NOTE:...
If you've got a good system, then after 10 to 20 years of compounding profits, you will get any account up into the millions of $. Only patience is required.

Good things need time.
  • #14
  • Apr 3, 2011 4:38am Apr 3, 2011 4:38am
Quoting tim112779
good point, I forgot about that part, you can only trade with the money you win,,,,,,,,
So ultimately you might give it back and end up losing afterall. You would have to win twice in a row,,, first the contest,,, and then in real life, trading with it successfully,,,, Although it can be done,,,

What are some of your guys' opinions on no deposit bonuses?
besides the fact that you have to trade a certain amount of volume in order to withdraw......

I mean, honestly, let's say that you receive $100 no deposit broker bonus. After a year, let's say...
I got a good system and doing it very well at the moment , once I followed what I planned , no problem , now just trying to void any bad emotions can come in mind about greedy , big profits...
About no deposit bonus , I saw most of FX contest have same type , just like casino , for bonus we need meet some requirements in order to withdraw profits . In fact it's just way broker are advertising itself and earn money . About instaforex , It look good but I didn't trade them before , moreover it has quite many negative reviews , so just make me quite confused about trading with them or not . I just have traded with Fxopen , Fxcast , FXCM , MasterForex , Liteforex before .
My system have a bad point is I need to trade on ECN brokers since it need a good price feeds on M5 chart to work out . And most of ECN brokers offer quite high minimum deposit amount I think .
Anyway I will try to build everything slowly since now , thanks all for your helpful comments , I'm appreciate for them .

Good Trading
Best Regards
  • #15
  • Apr 3, 2011 5:00am Apr 3, 2011 5:00am
Quoting HoangTuan
I got a good system and doing it very well at the moment
Quoting HoangTuan
I'm not going to sell or share my own strategy
Hi HoangTuan-

I know that you do not want to reveal your system, and I respect that. But is there anyway you can tell us what type of trading style that you have?
Do you trade breakouts, or reversals, or trends? As a newbie it is good to know what is working for someone so we can study it for ourselves, but we do not have to know your whole system
  • #16
  • Apr 3, 2011 5:52am Apr 3, 2011 5:52am
Quoting tim112779
Hi HoangTuan-

I know that you do not want to reveal your system, and I respect that. But is there anyway you can tell us what type of trading style that you have?
Do you trade breakouts, or reversals, or trends? As a newbie it is good to know what is working for someone so we can study it for ourselves, but we do not have to know your whole system
Hi ,
I simply react base on market momentum , market go up , I buy , market go down , I sell , the key here is how to determine market behavior to see its real momentum . After 2 years tested , now I'm trading with a very fresh chart and I like it , no indicators , no MA , no MACD ...ect . All of them were drawn base on PAST market movements , and now I don't think that past movement can affect to anything in the future , the only thing can predict future is PRICE itself , so I just need a simple candlestick chart for my trading journal , that's enough . In fact I can use this strategy for any timeframe and I can place any trade at anytime with proper stoploss , but I'm quite interested in scalping it on M5 , this is way I can practice to control my bad emotions . I'm trading on M5 with maximum SL is 15 pips , and no TP , once momentum changed to opposite direction , it will be closed . Everyone have their own way to determine and draw trendline , support , resistance... Most of traders drawn straight trendline by connecting low or high of swing , I did it before also , but now trendline , S/R are FLEXIBLE with me and it worked quite well .
About news trading , I'm not thinking that high impact news can do some great things as our favors . If you review again news actual value and related currency index ,you will see it's confused , sometimes many good news for EUR and bad news for USD , but E/U still can go down strongly in that day ...I have tested and seen that if you like to trade news , you will need to follow market's trend also , even big news like NFP also can't make a trend got breat out .
Yes maybe my thoughts can be different with someone , but I'm not against anyone , just share my experience . Everyone have their own thinking about trading , it's reason why too many system and robot appeared .
So in sum up , I just can say that the only thing I'm using now is a very fresh chart . The more you understand about market momentum and its behavior , the fewer indicators will need to attached to your chart
  • #17
  • Apr 3, 2011 6:35am Apr 3, 2011 6:35am
Quoting HoangTuan
After 2 years of trading and trying to develop my own system , I got what I want and it's profitable and suitable for me , but I don't know how can I earn million dollars without a > 5000$ capital though now I can trade profitable well . Any suggestions or solutions ? What will you do once you mastered trading ?
NOTE:...
Google "Binary Options" and do your own research on that. Binary Options are a newer way to make money trading Forex and indices etc. I've never traded them, nor am I recommending them, I'm just saying this is a way to trade without a lot of capital.

Peace,
SatchFan
  • #18
  • Apr 3, 2011 8:24am Apr 3, 2011 8:24am
Quoting SatchFan
Google "Binary Options" and do your own research on that. Binary Options are a newer way to make money trading Forex and indices etc. I've never traded them, nor am I recommending them, I'm just saying this is a way to trade without a lot of capital.

Peace,
SatchFan
Thanks for your suggestions , I checked Binary trading on anyoption 1 year ago , I saw it's quite different than forex trading , it look like another type of forex but I feel it has more gambling elements with its rules , win 70% and lose 85% or win 80% and lose 90% , it's different in every broker .
  • #19
  • Apr 4, 2011 12:38am Apr 4, 2011 12:38am
Thanks for the information,
and i must say, i couldn't agree more! all indicators are based on past data.. and news not necessarily move the price in the way we think too.


Quoting HoangTuan
Hi ,
I simply react base on market momentum , market go up , I buy , market go down , I sell , the key here is how to determine market behavior to see its real momentum . After 2 years tested , now I'm trading with a very fresh chart...
  • #20
  • Apr 4, 2011 2:51am Apr 4, 2011 2:51am
Quoting HoangTuan
After 2 years of trading and trying to develop my own system , I got what I want and it's profitable and suitable for me , but I don't know how can I earn million dollars without a > 5000$ capital though now I can trade profitable well . Any suggestions or solutions ? What will you do once you mastered trading ?
NOTE:...
How much you can make per month. Time is your best friend now. Compounding will do the rest. You can also trade for other traders and make extra money.
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