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Recommend to trade for a living?

  • #41
  • Dec 26, 2016 9:42pm Dec 26, 2016 9:42pm
Quoting javad.111
Hanover I enjoy your posts...you are perfect book man ...tnx
Quoting ForexFury
I'd pre-order any book put out by hanover on the topic of his adventures in Forex.

Hanover, you're... the Mentor!
Millions USD funded account. Discount 10% of the Evaluation fee
  • #42
  • Dec 26, 2016 10:15pm Dec 26, 2016 10:15pm
Thanks for sharing interesting story of yours.
I always think trading and enterpreneural venture is not too much differnet.

Basically you have spent time and money to develop new technolgoy.

Depending on where you are with your R & D, you can plan your future ahead.

Case 1: You have completed your R&D and you have solid evidence for your technology, then you can get some investors to trade with. I only recommemd to do this if you are 100% confident although this might be judged in relative sense.

Case 2: You are still in developmet stage and your R&D is not completed yet or you need more time. Then you need to get some full time or part time job to suppport yourself.

Just some friendly advice.
  • #43
  • Dec 26, 2016 11:32pm Dec 26, 2016 11:32pm
I am in America at the moment so have to trade with 50:1 leverage. I have a 2% margin on EURUSD. If I add a 40 pip stop loss to my cost, then I only need $25 to open a 1 micro lot trade for EURUSD. If your system is profitable, and you have already blown through live accounts, then find $25 and deposit it in your live account and trade it. Compound your winnings and don't worry about selling anything. You do not want clients. You don't need them either. Clients are for traders who cannot trade, so they make money by charging commissions for "trying" to trade other people's money. If you can actually trade, why give away your profits to other people?
You cannot be extraordinary by being normal
  • #44
  • Dec 27, 2016 3:13pm Dec 27, 2016 3:13pm
Quoting yesyoucan
{quote} Agree. I was 0.00% in candlesticks, learned some from Steve. But how to make candlesticks profitable, need huge time testing and How I trade it profitably need own research. I made decent loss before I start profitable trading and now my loss $2200 treated as my Learning fees. There're several issues attached to trading which candlestick trading alone can't reflect. It's like no single book is sufficient to excel anything particularly in a subject as I've seen good exam. scorer usually have read many books on a single subject. Neither Steve...
I look at candlesticks as an elegant and organized attempt at examining PA at a glance. It's not a guaranteed way to profit of course but you can never predict the next PA and/or its movement magnitude with 100% accuracy but being able to predict the next PA according to Three Buddhas is fun at times.
Make your losses in demo. Earn your profits live.
  • #45
  • Dec 27, 2016 6:01pm Dec 27, 2016 6:01pm
Quoting VD.Trader
Hi all, I don't have any license nor certificate, I am just a street trader. I have been trading for years and lose a lot of money. I have bought many EAs, indicators, trading systems but none of them can make profit. I also have created a lot of systems and one by one wipe out live accounts as well Finally Ive found a strategy that works, its a swing trading strategy and I'm sticking with it now. Unfortunately, I have spent all money in developed this system and now I just can prove it works on demo account. So what do you recommend for me to trade...
dont give up most successful stories have a bitter beginning.
100% KENYAN.
  • #46
  • Dec 27, 2016 7:42pm Dec 27, 2016 7:42pm
Quoting Forexia
{quote} I look at candlesticks as an elegant and organized attempt at examining PA at a glance. It's not a guaranteed way to profit of course but you can never predict the next PA and/or its movement magnitude with 100% accuracy but being able to predict the next PA according to Three Buddhas is fun at times.
Yes, PA trading or how to predict market accurately totally different issue. Having long term experience , you already know how to use PA in trading. I agree with your previous statement but you leave your topic without giving any solution! So where any newbie to start trading , if Guru is mandatory then where that Guru exist according to your criteria?
Never Gamble Forex
  • #47
  • Dec 27, 2016 8:02pm Dec 27, 2016 8:02pm
Quoting hanover
{quote} I think it ultimately comes down to personal choice. What I was saying before is that sharing a profitable strategy is unlikely to affect your own profitability, for the reasons that I gave. And selling your strategy can provide the benefit of diversified income, or the income needed to help build a decent size account. {quote}
Make sense. That explains why there is so many trading books around. LOL

Quoting hanover
{quotebecause there will always be unexpected upheavals caused by events like Brexit, or Trump winning the US election, or terrorist attacks, or earthquakes, or flash crashes, or unscheduled news announcements, or indeed anything that can have an on-going effect, but can not be factored into a mechanical, TA-based strategy. IMHO no system is infallible, but a knowledgeable trader may be able to work around whatever scenario, whether typical or extraordinary, that the market throws at him. Of course I'd be delighted to be proved wrong. A fully automated...
Once there is unexpected news, ALL systems/strategies no matter how much of a Holy Grail they are, all go out the door because unless you have insider information or a crystal ball, nobody can predict the future and know exactly what's going to happen. All the trading systems/strategies only work in "normal" market conditions with no special news especially no "black swan" events. LOL

Quoting hanover
Best wishes to you also. I live in New Zealand (home of the NZD).
Nice!!! The home of the Shire!!
Make your losses in demo. Earn your profits live.
  • #48
  • Dec 28, 2016 1:43am Dec 28, 2016 1:43am
to be able to live in running forex business, there must be a struggle and learning what we do, as a business without a learning and preparation will not be maximum in running the business of forex trading, a loss that will surely be acquired
  • #49
  • Dec 28, 2016 4:24am Dec 28, 2016 4:24am
If you scared to put a trade then you are not reday to trade...(living).
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -299
  • #50
  • Jan 2, 2017 2:21am Jan 2, 2017 2:21am
in for live running forex should be able to know how to manage risk properly, because the factors that are not berthan his experience in the forex business with can not afford to risk control. it would be better we can continue to learn how to get a success
  • #51
  • Jan 9, 2017 7:15pm Jan 9, 2017 7:15pm
I like the saying 'street trader' instead of retail trader.

I'm going to start using it hehe.
  • #52
  • Jan 10, 2017 4:28am Jan 10, 2017 4:28am
Am a street trader too but one thing i have learnt is that you dont need much money to make it even 100$ can grow to 1000000$ in a year.
100% KENYAN.
  • #53
  • Jan 10, 2017 6:35am Jan 10, 2017 6:35am
You have to be master's in the game without that no matter what's you have mony simply don't work only take much time....
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -299
  • #54
  • Jan 10, 2017 12:33pm Jan 10, 2017 12:33pm
Its good to start trading forex as a hobby and learn more strategies with the passage of time while continuing the primary jobs to earn living. Once got good hands on trading then we can start relying on forex trading as the primary source of living.
  • #55
  • Jan 11, 2017 1:05pm Jan 11, 2017 1:05pm
If your system is so good like you mention it here I would get cash out from my credit card to trade. That is the only way to find out not other people money. Then if you continue to make a profit then you can consider selling it.
  • #56
  • Jan 15, 2017 9:41am Jan 15, 2017 9:41am
I think all 'systems' are imaginairy, what matters is what the so called professionals are using. At the end of the day all that matters is beating the amateurs who fell for this game.

The only system I would give any credits is any system that uses the golden ratio, since it seems to be working with anything in life.
  • #57
  • Jan 20, 2017 7:41pm Jan 20, 2017 7:41pm
Quoting VD.Trader
Hi all, I don't have any license nor certificate, I am just a street trader. I have been trading for years and lose a lot of money. I have bought many EAs, indicators, trading systems but none of them can make profit. I also have created a lot of systems and one by one wipe out live accounts as well Finally Ive found a strategy that works, its a swing trading strategy and I'm sticking with it now. Unfortunately, I have spent all money in developed this system and now I just can prove it works on demo account. So what do you recommend for me to trade...
Its a good thing that you found what works for you. I was in the same cycle of trying many strategies too till I was able to find what works for me via swing trading.

However, I would not advice you start trading for a living from now on. Get some funds and trade live for a period. Trust me, at times its not just about how good your system works on demo that counts. When you apply same strategy to a live account, your emotions will be different. So the best thing to do is get some funds, trade live for a period till you are able to manage your emotions along with your strategy.

You can go further by trading for a living after you have seen consistent profits over a period of time.

Wish you all the best.
HavilahFX Academy
HavilahFX All Time Return: na
  • #58
  • Last Post: Mar 9, 2017 3:16pm Mar 9, 2017 3:16pm
The expert adviser in Forex trading always emphasis on demo trading for especially newcomers, I practically we lost interested when trading practically after sometimes. Instead of demo trading I think it is better to trade in a live account with small balance.
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