If it was risky, why would millions of people invest their money to FX?
- #168
- Sep 3, 2016 7:56pm Sep 3, 2016 7:56pm
- Joined Jun 2010 | Status: Trader | 3,896 Posts
Make your losses in demo. Earn your profits live.
- #173
- Sep 11, 2016 1:50pm Sep 11, 2016 1:50pm
Money management is key on EVERY Aspect in life .. there is no difference
if you buy a Car, House, boat have 20 Creditcards and go to work to make sure you not get foreclosed
or trade 1 lot with 100$ account balance .. its 100% the same thing.
most peoples on this planet (trader or not) mix a few fundamentals up.
your House with an Active mortgage is Liability and NOT An ASSET !!
same goes for cars, boats, credit card's and whatever!
it is 100% the same thing in forex,
buying a 100$ contract with 1$ (1:100 Leverage) of your capital means you buy a "maybe future asset"
that needs to be worth more than 100$ to break you even on a 99$ loan.
if you can't pay back the loan plus interest (meaning: position goes against you)
if you buy a Car, House, boat have 20 Creditcards and go to work to make sure you not get foreclosed
or trade 1 lot with 100$ account balance .. its 100% the same thing.
most peoples on this planet (trader or not) mix a few fundamentals up.
your House with an Active mortgage is Liability and NOT An ASSET !!
same goes for cars, boats, credit card's and whatever!
it is 100% the same thing in forex,
buying a 100$ contract with 1$ (1:100 Leverage) of your capital means you buy a "maybe future asset"
that needs to be worth more than 100$ to break you even on a 99$ loan.
if you can't pay back the loan plus interest (meaning: position goes against you)
- where the loan is 99% of your position (covered by your leverage)
- Interest has to be paid anyway (via commission and Spread)
you will be foreclosed instantly by your broker there really is ZERO Difference between the modern life and creation of virtual money by loans and Forex.
don't play/invest money you not own! not in life and not in forex .. that's the key to success.
apply money management (means you know what you risking and the consequences of the contract and you okay with it)
and forex will work just like the rest of your life does.
Forex has a great advantage over the "real life".. which is simply that once the Broker margin calls you ... everything is over.
but in real life, the banks will crawl up your ass until you dead and in some countries they even go after your kids after you dared to die.
so Forex has a clear advantage over the conventional Money system where depth is created out of nothing.
in forex, Profit is created out of nothing 
- #175
- Sep 12, 2016 4:32am Sep 12, 2016 4:32am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
{quote} I might lose the money I made due to new trades but trades of the past won't come back to haunt me. Customers may do that until your entire business cease to exit............. That is the business men perspective to trading and that's also the reason why I have quite a problem connecting to all the moaners and whiners. My night sleep is MUCH better since I'm a trader.
There are more advantages IMO :
No need for a Office , You can trade from the beach if you want ( or even during the traffic jam ;-)
.. no nasty customers calls you ... and no need for any advertising ...
.. and of course the girls love fx traders;
whenever you tell a cutie " I made a bunch of pips,I shorted the kiwi today" while youre dancing on the dancefloor, shell be yours..
-- the last one was for kidding , for those who won t understand
... but in the end I can see more positive than negative things .
Guido
Risiko birgt immer auch die Chance.
- #176
- Sep 12, 2016 4:51am Sep 12, 2016 4:51am
{quote} There are more advantages IMO : No need for a Office , You can trade from the beach if you want ( or even during the traffic jam ;-) .. no nasty customers calls you ... and no need for any advertising ... ..
we are "gewohnheitstiere"
i find a structured aproach like having a designated office space does support the success dramatically.
{quote} true, but the lack of structure can lead to a mid-term downfall. we are "gewohnheitstiere"
We're not only "gewohnheitstiere" but also "herdentiere"
I tend not to talk about this things with non-traders, peoples live in the FIAT Prosion have very little ideas about how that is even possible.