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

  • #41
  • Jan 13, 2013 5:55pm Jan 13, 2013 5:55pm
Quoting Pipcatchu
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?...

0.003% per month, just put money in bank, less work more security.
  • #42
  • Jan 13, 2013 5:57pm Jan 13, 2013 5:57pm
Quoting Turveyd
M1 gets a bad rep as you can drop to 20% win rate, but you can also get 80% win rate on the same note which then lets you make a lot of trades stacking up from 3% risk sometimes 10% account growth in 30mins, downside you can lose 3% in 2mins.

Trade with H4 via the general 200pip SL and it rapidly becomes a 50/50 game and days between trades, your still losing just very slowly, downside is if you get good you'll only be able to profit very slowly.

It is clear that you do not swing trade....."Trade with H4 via the general 200pip SL........what about 10pip stop 100pip tp.......sounds better?
  • #43
  • Jan 13, 2013 6:01pm Jan 13, 2013 6:01pm
Quoting 4xPIPAHOLIC
It is clear that you do not swing trade....."Trade with H4 via the general 200pip SL........what about 10pip stop 100pip tp.......sounds better?

If your trading with a 10SL then your scalping in short, trading off a H4 or M1 chart makes no difference, unless your very good you'd drop to a 10% win rate area and still be just slightly negative over all.

Obviously I like the theory, but in practice sadly rare you'll get setups that clean, unless your spending all day glued to the monitor then might aswell be trading M1 and have more detail.


M1 or H4 same market you realise yeah ?? if M1 goes up 50pips so does H4, it's merely the level of detail which differs.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #44
  • Jan 13, 2013 6:11pm Jan 13, 2013 6:11pm
Quoting Turveyd
If your trading with a 10SL then your scalping in short, trading off a H4 or M1 chart makes no difference, unless your very good you'd drop to a 10% win rate area and still be just slightly negative over all.

Obviously I like the theory, but in practice sadly rare you'll get setups that clean, unless your spending all day glued to the monitor then might aswell be trading M1 and have more detail.


M1 or H4 same market you realise yeah ?? if M1 goes up 50pips so does H4, it's merely the level of detail which differs.

You are correct in a lot of the things you are saying......I agree.

I trade 4H......1h......ALWAYS with the trend.......yes you do need time to get the right setup......and when I enter I scale down to the 15m for entry....

Might get stopped 1...2...or even 3 times......but the R:R is good......for me at least....

For some reason I never traded good the small time frames......but that is me.....
  • #45
  • Jan 13, 2013 6:12pm Jan 13, 2013 6:12pm
Quoting Pipcatchu
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...
Learn how to be consistent first forget about dollar amounts needed to survive, your setting yourself up for failure that way and adding way to much extra stress. If you need the money your trading with to live you shouldn't be trading. If you need to have a job then your learning curve will be much longer & this should be a hobby for you. Theres no free lunches in this biz, it's takes years of screen time as well of years training yourself to learn how to control your emotions to deal with the swings in trading. Stick to higher TF's the signals are much more reliable anyone who advices otherwise just ask them to show there PNL. Except a solid 3 years minimum before you'll somewhat have a grasp on whether this a biz you can making a living from. Be prepared to never stop learning the markets are always changing & you need to change with them. Most important keep your strategy simple & focus on developing strong money management & capital preservation skills.
It works till it doesn't
  • #46
  • Jan 13, 2013 6:26pm Jan 13, 2013 6:26pm
Quoting Pipcatchu
but im calculating on the leveraged amount? which is 463,700 USD (fourhundredthousand..... )

$1,310 of 463,700 is 0.003%

Was it right this time?
No.

0.003% is $13
0.3% is 1300

You cannot calculate on the balance times leverage, just your balance
Please Do Not PM Me With Coding Enquiries
  • #47
  • Jan 14, 2013 3:07am Jan 14, 2013 3:07am
[quote]Is there an "easy" way to trade on Forex?/QUOTE]

"Easy" to me means doing something without effort, do you think you can earn money without effort? is it even a desirable goal?

I think the choice is between "simple" or "complicated".

A trader can easily complicate trading.
  • #48
  • Jan 15, 2013 1:27pm Jan 15, 2013 1:27pm
Quoting TS Owl
What motivates you to trade? Is it just to make easy money? If the answer is yes... you might want to reconsider.
On the other hand, is trading what makes you tick? Then you will find "a way to trade" you personally find "easy", but hopefully also interesting and fun. Like this man already has- find your passion and follow it! [shameless blog plug removed]
I hazard a guess that almost everybody's motivation to trade is easy money. There's nothing wrong with that as long as you don't get caught up in the greed.
  • #49
  • Jan 15, 2013 1:43pm Jan 15, 2013 1:43pm
Quoting Kanzler
I hazard a guess that almost everybody's motivation to trade is easy money. There's nothing wrong with that as long as you don't get caught up in the greed.

It's definately not EASY far far far far from.

When / IF Ever cracked then it should be like taking candy from a baby I really hope!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #50
  • Jan 15, 2013 1:59pm Jan 15, 2013 1:59pm
Quoting Turveyd
It's definately not EASY far far far far from.

When / IF Ever cracked then it should be like taking candy from a baby I really hope!!
Isn't your system making you consistent money? If so, then all you have to do is follow the rules and be patient. The other day the way you were busy stabbing swing trading supply/demand zones down it seemed like you had it all figured out.
  • #51
  • Jan 15, 2013 2:07pm Jan 15, 2013 2:07pm
Quoting Kanzler
Isn't your system making you consistent money? If so, then all you have to do is follow the rules and be patient. The other day the way you were busy stabbing swing trading supply/demand zones down it seemed like you had it all figured out.

The method historically works very nicely, using live and other issues/life getting in the way, never allow for Easy sadly.

Like I haven't done Swing / Supply / Demand trading to death, current crazy markets it will work well the losers always out do the winners eventually.

Many Many years ago!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #52
  • Jan 15, 2013 2:18pm Jan 15, 2013 2:18pm
Quoting Turveyd
The method historically works very nicely, using live and other issues/life getting in the way, never allow for Easy sadly.

Like I haven't done Swing / Supply / Demand trading to death, current crazy markets it will work well the losers always out do the winners eventually.

Many Many years ago!!
So it's not really the trading that's hard, it's being there to take them is what I gather. I guess that's fair.
  • #53
  • Jan 15, 2013 2:31pm Jan 15, 2013 2:31pm
Quoting Kanzler
So it's not really the trading that's hard, it's being there to take them is what I gather. I guess that's fair.

Bad few weeks, woman issues and ZERO focus is the current issue, had Flu still recovering from to.

Method is relatively new to, so need more live watching time to trust it and the 1 trade I took today was where Dax's trend changed this am 10:20am GMT, -7pips so not a big deal at all, but a nice winner would boost confidence some what, but NO.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #54
  • Jan 16, 2013 8:22am Jan 16, 2013 8:22am
With the right tools and discipline, scalping/swing trading an make you money.

If indeed as you say, successful traders do not hang around forums, then obviously it will be hard to find trusworthy successful traders here.

I really would have thought that was obvious.

But does not mean successful swing traders on higher TF's do not exist.

Point is, if you failed at a swing trading method/s in the past, then it is (your) failure and (you) alone own it, it is not universal.
Come with me if you want to live....
  • #55
  • Jan 16, 2013 8:28am Jan 16, 2013 8:28am
Quoting Ill-b-back
With the right tools and discipline, scalping/swing trading an make you money.

If indeed the successful traders do not hang around forums, then obviously it will be hard to find trusworthy successful traders here.

I really would have thought that was obvious.

But does not mean successful swing traders on higher TF's do not exist.

Point is, if you failed at a swing trading method/s in the past, then it is (your) failure and (you) alone own it, it is not universal.

Until someone posting live trade entrys and exit's demo or not, shows a profit via swing trading Forex I will not believe it, no 1 in 8years has done this yet, nobody at all.

Swing trading stocks, different story, different animal all together and the only way to play stocks but forex is to crazy to news led to changeable for swing trading to come up much better than a 50/50 game.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56
  • Jan 16, 2013 8:34am Jan 16, 2013 8:34am
Quoting Turveyd
Until someone posting live trade entrys and exit's demo or not, shows a profit via swing trading Forex I will not believe it, no 1 in 8years has done this yet, nobody at all.

Swing trading stocks, different story, different animal all together and the only way to play stocks but forex is to crazy to news led to changeable for swing trading to come up much better than a 50/50 game.
As you have pointed out already, successful traders (generally) (with exceptions of course) don't hang around forums, so your not likely to see a trade explorer or setups from these people are you.
Come with me if you want to live....
  • #57
  • Jan 16, 2013 8:46am Jan 16, 2013 8:46am
Quoting Ill-b-back
As you have pointed out already, successful traders (generally) (with exceptions of course) don't hang around forums, so your not likely to see a trade explorer or setups from these people are you.

Succesful scalpers hang around for a while, I've seen / chatted and verified a fair few of those.

So they do, but no swing traders do, hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #58
  • Jan 16, 2013 8:51am Jan 16, 2013 8:51am
Everyone who comes into trading asks the same question. How can i accelerate the learning process.

The short answer is that what you need you cannot buy, cannot borrow or cannot learn.

That thing is TIME

I've yet to meet a consistently profitable trader that's been in the game less than 4 years and didn't lose a shedload of money learning the game.

I'm sure now there will be replies that say "im profitable and i've only been doing it X months. My answer is that X months is not long enough to be 'consistently profitable' if you make money quarter by quarter for more than a year then you're consistent.

It takes time.

Although this post will dissuade you and you will think "I'm Different!" - Sorry, but You aren't.
https://linktr.ee/Soultrader
  • #59
  • Jan 16, 2013 8:59am Jan 16, 2013 8:59am
Quoting soultrader

Although this post will dissuade you and you will think "I'm Different!" - Sorry, but You aren't.
Some people will ofcourse be different and have a natural flare for this game, but we are talking sub 0.2%, so 1 in 500, are you feeling that lucky ??

The rest of us have to fight and work like hell to get into the 1 - 2 % and as said it's going to take time and money.


Best way to make money, is to convince others you can make money then get them to pay you to show them how, thankfully for this method there is a sucker born every minute.

Pls deposit $5000 into my paypal account, I don't need the money ofcourse but I like to make sure my students are fully committed and well enough funded as not to waste my valuable time I could be spending on my private jet.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60
  • Jan 16, 2013 9:11am Jan 16, 2013 9:11am
Quoting Turveyd
sub 0.2%, so 1 in 500
plz stop posting. just let soultrader have his say without tarnishing it with a reply trying to be clever.
Congratulations ScalaFX for coming out of the closet!
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