Is there an "easy" way to trade on Forex? | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Broker Challenge "NDD/STP" vs. True "ECN" and "Mkt Mkr" broker talk 46 replies

Hard Way, Easy Way 115 replies

Dealing with "Invalid Price", "Requote", "Server Busy" in MT4 3 replies

Is there an easy way to program an ea? 2 replies

Doing things the "easy" way = failure? 8 replies

Attachments: Is there an "easy" way to trade on Forex?
Exit Attachments

Is there an "easy" way to trade on Forex?

  • #1
  • First Post: Jan 13, 2013 11:01am Jan 13, 2013 11:01am
Hello!

This might be a stupid question but here goes.

Right now, im not looking to maximize my profits as much as possible, im just wondering if there is a way to trade that is considered more easy and not too much risk?

Im kinda into scalping and intraday trading, small timeframes. Not so much swingtrading and overnight positions.

My goal right now is to make 0,003% per month (using 50:1 leverage). This will be enough for rent, dont need to look for full time job, making it possible to spend more time on learning to trade.

Is this realistic?

What would you do? Any tips?
  • #2
  • Jan 13, 2013 12:09pm Jan 13, 2013 12:09pm
Quoting Pipcatchu
Hello!



My goal right now is to make 0,003% per month (using 50:1 leverage). This will be enough for rent, dont need to look for full time job, making it possible to spend more time on learning to trade.

Is this realistic?

What would you do? Any tips?
0.003% per month - very realistic target. But you'll need 100,000,000 account to make 3,000
  • #3
  • Jan 13, 2013 12:09pm Jan 13, 2013 12:09pm
If you can live off of 0.003% you must be loaded. Anyway, I take it you're new to this, and I also realize you probably won't listen to me, but here it is. Don't blow your capital on intraday trading and definitely not scalping. There are handicaps at these time frames that make it very difficult to be successful, in particular the reliability of signals and the cost of the spread quickly eating into your revenue. You should pick up swing trading on a daily chart. Much less stress, spread plays a much smaller part in each trade, and you can go do what you want during the day instead of sitting at your computer watching noise. The "holy grail" in trading is to look at supply and demand levels and the price action at those areas - if you're an indicator trader things are about to make a lot more sense to you, and setting stops and take profits is much more logical.
  • #4
  • Jan 13, 2013 12:46pm Jan 13, 2013 12:46pm
Quoting Kanzler
If you can live off of 0.003% you must be loaded. Anyway, I take it you're new to this, and I also realize you probably won't listen to me, but here it is. Don't blow your capital on intraday trading and definitely not scalping. There are handicaps at these time frames that make it very difficult to be successful, in particular the reliability of signals and the cost of the spread quickly eating into your revenue. You should pick up swing trading on a daily chart. Much less stress, spread plays a much smaller part in each trade, and you can go...
Great Answer !
The More You Learn, The More You Earn.....
  • #5
  • Jan 13, 2013 1:41pm Jan 13, 2013 1:41pm
Quoting forexalien
Great Answer !

It would be IF you could name 1 person on this site you trust that is actually making money of D1 Swing trading, I can't!!

0.003% you sure ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #6
  • Jan 13, 2013 1:53pm Jan 13, 2013 1:53pm
Quoting Turveyd
It would be IF you could name 1 person on this site you trust that is actually making money of D1 Swing trading, I can't!!

0.003% you sure ??
Oh yeah? It takes patience but you can definitely make money off of swing trading, and it doesn't rely on static parameter indicators to guide you through constantly changing market conditions.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.png Size: 60 KB
  • #7
  • Jan 13, 2013 1:55pm Jan 13, 2013 1:55pm
Quoting Kanzler
Oh yeah?
So your claiming to be the only D1 profitable person here then ??

LOL


Don't bash M1 or M5 trading, reactive not predictive until you understand it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #8
  • Edited 2:16pm Jan 13, 2013 1:57pm | Edited 2:16pm
Quoting Turveyd
So your claiming to be the only D1 profitable person here then ??

LOL


Don't bash M1 or M5 trading, reactive not predictive until you understand it.
Reactive not predictive is exactly what I do as well. Mark levels, see how price reacts to it. I've seen some good success with this school of trading and most of the successful traders I know (those who live off of it, not necessarily millionaires) do the same thing. The logic behind why these levels work is also appealing, much more so than hoping an indicator is telling you right.
  • #9
  • Jan 13, 2013 2:33pm Jan 13, 2013 2:33pm
Quoting Kanzler
You should pick up swing trading on a daily chart. Much less stress, spread plays a much smaller part in each trade, and you can go do what you want during the day instead of sitting at your computer watching noise. The "holy grail" in trading is to look at supply and demand levels and the price action at those areas - if you're an indicator trader things are about to make a lot more sense to you, and setting stops and take profits is much more logical.
Thanks Kanzler! i will definitely have a look at swingtrading, sounds interesting. And check up supply and demand levels, not really sure what those are...

Quote
Turveyd:
0.003% you sure ??

yes, but i still cant afford more than noodles and potatoes
  • #10
  • Jan 13, 2013 3:15pm Jan 13, 2013 3:15pm
Quoting Pipcatchu
Thanks Kanzler! i will definitely have a look at swingtrading, sounds interesting. And check up supply and demand levels, not really sure what those are...



yes, but i still cant afford more than noodles and potatoes

Scalping will make you rich, but it's tricky to master, swing might make 15% per year if your good might be enough for you to live off, but worthless to me.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #11
  • Jan 13, 2013 3:19pm Jan 13, 2013 3:19pm
[quote=Turveyd;6361057]Scalping will make you rich,


hi Turveyd. your the tops with the no nonsense approach and tell them whats what. be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12
  • Jan 13, 2013 3:21pm Jan 13, 2013 3:21pm
Quoting Turveyd
Scalping will make you rich, but it's tricky to master, swing might make 15% per year if your good might be enough for you to live off, but worthless to me.
Is that why you're " Back to Scalping kinda, well trend trading with MA's but on a M1 chart."? Like you claim about swing traders, I've never seen a scalper succeed in this business. Can you provide some examples?

Quoting Pipcatchu
Thanks Kanzler! i will definitely have a look at swingtrading, sounds interesting. And check up supply and demand levels, not really sure what those are...
No problem, just do yourself a huge favor and be careful who and what you listen to. A lot of people here are just commercial salesmen in disguise and they'll sucker you in with some 1000% a year system. I think you're probably aware of that but some of them are quite good at what they do. If it sounds too good to be true it probably is.
  • #13
  • Jan 13, 2013 3:27pm Jan 13, 2013 3:27pm
Quoting Kanzler
Is that why you're " Back to Scalping kinda, well trend trading with MA's but on a M1 chart."? Like you claim about swing traders, I've never seen a scalper succeed in this business. Can you provide some examples?

The Kinda is cause I'm not aiming for 3 pips full scalp style, I'm happy to hold when trends appear for a few hours.

There is a fair few around, " one minute wonder thread" C-12 is a M1 profitable trader I believe.

I'm following a few Supply and Demand similar method to yours trades and not looking great to be honest, big wins and big losses.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #14
  • Jan 13, 2013 3:29pm Jan 13, 2013 3:29pm
Quoting Kanzler


No problem, just do yourself a huge favor and be careful who and what you listen to. A lot of people here are just commercial salesmen in disguise and they'll sucker you in with some 1000% a year system. I think you're probably aware of that but some of them are quite good at what they do. If it sounds too good to be true it probably is.
Stop editing when i'm replying to already.

Defo on that, if they where profitable then they wouldn't need your money.

Loads seemed to have popped up in 2013, new years resolution " Must give Scamming a go! "
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #15
  • Jan 13, 2013 3:30pm Jan 13, 2013 3:30pm
[quote=billytt;6361062]
Quoting Turveyd
Scalping will make you rich,


hi Turveyd. your the tops with the no nonsense approach and tell them whats what. be good

Do I have to be good, you know you love it when I'm bad!!

Yeah I feel sick to, don't worry!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #16
  • Jan 13, 2013 3:47pm Jan 13, 2013 3:47pm
pipcatchu.
trading is as easy or hard as you like it. I personally cannot talk about europe,usa the fed, greece if it still exists, who does what ,where or to whom. But i do know it is all about being sensible and not being stupid when you get a loser and have a simple system. Try not to listen to the experts in these sites including moi.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17
  • Jan 13, 2013 3:47pm Jan 13, 2013 3:47pm
Quoting Pipcatchu

Turveyd:
0.003% you sure ??

yes, but i still cant afford more than noodles and potatoes
Why not just put your money in a bank deposit account that pays interest?

If you trade a 10 million $ account, 0.003% will return $300 profit
Are you going to trade a 10 million $ account and is your rent only $300 per month?

Seriously,
How much money will you put into your trading account and how much profit (money not % ) do you want to earn each month?
Please Do Not PM Me With Coding Enquiries
  • #18
  • Jan 13, 2013 3:48pm Jan 13, 2013 3:48pm
Scalping is not something you can get into right away esp if you are new to currency trading, it takes time and practice. On intraday and swing, as to which is better, you have traders who will swear to high heaven on both, so try the demo and see which one works for you..
Good luck and btw, there's no easy way to trade on forex - it's like walking on thorns, gets better after a while..
  • #19
  • Jan 13, 2013 3:48pm Jan 13, 2013 3:48pm
Quoting Pipcatchu
...more easy and not too much risk?

Im kinda into scalping and intraday trading, small timeframes....
As a fellow rookie to another: you could try my approach in the one hit wonder thread .

 

  1. Easy: Can be traded on a phone during work.
  2. Limited risk: 15 pip stops risking max. 1% of your account by using a proper lot size.
  3. Scalping and intraday: It's a 5M strategy.


Please try it in demo first.

Financial independence is what I live for
  • #20
  • Jan 13, 2013 3:52pm Jan 13, 2013 3:52pm
pipcatchu, i forgot NO LEVERAGE
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
0 traders viewing now