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How to make a living with trading?

  • #361
  • Apr 7, 2017 3:35pm Apr 7, 2017 3:35pm
Quoting cyguy
{quote} is that a demo account?
I give you a tip/hint. When you see a statement, check if there is some slippage in any of the trades.
On demo accounts, there is never any slippage which is impossible in a real account, especially for big sized trades
Don't give up on your dreams. Keep sleeping.
  • #362
  • Apr 8, 2017 5:53am Apr 8, 2017 5:53am
Quoting PiranoTrader
{quote} I agree. I personally couldn't do it just in my spare time. Maybe now i could since i have more experience. But if I want to manage money it probably wouldn't be fair to my clients if im not 100% with them. Hehe, but as it seems that will not happen anyway
All the tools I ever use on my charts are horizontal lines and Fibonacci to learn trend direction, strength and support and resistance zones.....and of course entries and exits. no trend lines, double tops, triangles, moving averages, Elliot waves, RSIs, MACD etc.. They are either too cumbersome, lagging or make my charts too messy.
  • #363
  • Apr 8, 2017 2:05pm Apr 8, 2017 2:05pm
Quoting lloydie
{quote} .. They are either too cumbersome, lagging or make my charts too messy.
but horizontal lines and Fibonacci, strength and support and resistance zones arent ?
  • #364
  • Apr 9, 2017 1:29am Apr 9, 2017 1:29am
If your trading or want to embark trading now is a really good.time to sit back and watch the market.

There is so many world wide events that are occuring that predicting where the market is heading almost to risky to even try.

Right now its a good time to look at commdities
  • #365
  • Apr 9, 2017 1:36am Apr 9, 2017 1:36am
Quoting jpcashflow
If your trading or want to embark trading now is a really good.time to sit back and watch the market. There is so many world wide events that are occuring that predicting where the market is heading almost to risky to even try. Right now its a good time to look at commdities
Fair point but I think another option is to look at trading smaller time frames, I say this because with current volatile news events, trades taken over 4hr or 1hr candles are more likely to whipsaw - it seems better to get in and out the market as quick as possible (but of course smaller tf should be for more experienced traders - otherwise its the quickest way for new traders to blow their account).
  • #366
  • Apr 9, 2017 2:09am Apr 9, 2017 2:09am
Quoting jpcashflow
If your trading or want to embark trading now is a really good.time to sit back and watch the market. There is so many world wide events that are occuring that predicting where the market is heading almost to risky to even try. Right now its a good time to look at commdities
All of the markets are interconnected, if you test your system over enough years there will always be periods on uncertainty, it is that uncertainty that creates the opportunity, if the market were 100% efficient there would be no edge to be found
I live entirely from the growth of my personal trading account
  • #367
  • Apr 9, 2017 5:04am Apr 9, 2017 5:04am
Quoting oztrader79
{quote} Fair point but I think another option is to look at trading smaller time frames, I say this because with current volatile news events, trades taken over 4hr or 1hr candles are more likely to whipsaw - it seems better to get in and out the market as quick as possible (but of course smaller tf should be for more experienced traders - otherwise its the quickest way for new traders to blow their account).
Great view the market has changed like any investment you need to reasseses. To many factors and variablea out there
  • #368
  • Apr 10, 2017 9:11am Apr 10, 2017 9:11am
I guess Price Action is everlasting 'tools' for my trading.

Simple to execute like pin bar, engulfing bar and etc.
Let Market Tell You
  • #369
  • Apr 20, 2017 4:26am Apr 20, 2017 4:26am
Quoting hak444
Nice twist...talking about creative things. Thats coool... I agree with some previous post...ur robots/ea can only look at things at their face value, creativity comes from human mind and that part can't be coded into machines . Human brain storage capacity vs robots? Unimaginable As long as human beings are making robots and are involved in AI projects, there is no chance for these machine to get ahead of humans in creativity. Peace {image}
Unarguably true!
Study and risk taking are the engine & fuel that will propel you to success
  • #370
  • May 16, 2017 10:21pm May 16, 2017 10:21pm
Since, you are making now regular money so why you are spending your energy on small trading capital issue? Here you can reinvest your profit for 5-6 months, suppose your monthly return is 20% so, after 5 months your trading equity will around 200%! On the other hand, depending on others is not any good solution here, you have a good trading system so don’t be scared!
  • #371
  • Jun 16, 2017 6:34pm Jun 16, 2017 6:34pm
Quoting ensale
{quote} LOL! Your right about that! I checked out blufx yesterday, instant funds given, 50k.. here's the Catch ! 240 a month including vat, + it takes two years to get to a million dollar account and with 1:2 leverage... Not worth it but who knows.
I just checked out their website and there doesn't seem to be any catch. What they're asking for seems fair enough. The problem is, it's their platform and not MT4 or MT5. As far as I'm concerned, that thing could be a Trojan horse. If they had MT4 or some way to connect MT4 to their platform, I'd be all over that.

Are there other companies like blufx?

You wrote 1:2 leverage, was that a typo and it's 1:200 or is it really 1:2? In that case, it wouldn't be usable to me anyway...
It takes money to make money.
  • #372
  • Jun 17, 2017 8:10am Jun 17, 2017 8:10am
Quoting Harpy
{quote} I just checked out their website and there doesn't seem to be any catch. What they're asking for seems fair enough. The problem is, it's their platform and not MT4 or MT5. As far as I'm concerned, that thing could be a Trojan horse. If they had MT4 or some way to connect MT4 to their platform, I'd be all over that. Are there other companies like blufx? You wrote 1:2 leverage, was that a typo and it's 1:200 or is it really 1:2? In that case, it wouldn't be usable to me anyway...
Yes. 1:2 leverage which is very low...

There are other's, such as actual trader's but they use PTMC Trade software.. which is good.. i rate actual trader and apiary fund as better options.
It's in fear when people show what they truly value.
  • #373
  • Jun 17, 2017 9:24am Jun 17, 2017 9:24am
Possible, very much so after a period.

Most people would agree it takes years to learn to trade successfully by yourself, some people actually in the business don't believe in it. The statistics are very much against you.

Once you have learned to trade, you need probably 30k bare minimum. And if you haven't learnt to trade properly, you'll need another 30k after that, plus any money you needed to live on after that.

All this assuming you found a broker that actually lets you take your money out when you want it.

There are so many barriers.
  • #374
  • Jun 17, 2017 10:06am Jun 17, 2017 10:06am
Quoting Catch-22
Possible, very much so after a period. Most people would agree it takes years to learn to trade successfully by yourself, some people actually in the business don't believe in it. The statistics are very much against you. Once you have learned to trade, you need probably 30k bare minimum. And if you haven't learnt to trade properly, you'll need another 30k after that, plus any money you needed to live on after that. All this assuming you found a broker that actually lets you take your money out when you want it. There are so many barriers.
I wouldn't really go by what the professionals in the business say because what they say is from their perspective. They have and operate with different restrictions and what they say doesn't apply to retail spot Forex. I probably could have made that sentence more concise.
It takes money to make money.
  • #375
  • Jun 17, 2017 10:11am Jun 17, 2017 10:11am
Quoting Harpy
{quote} I wouldn't really go by what the professionals in the business say because what they say is from their perspective. They have and operate with different restrictions and what they say doesn't apply to retail spot Forex. I probably could have made that sentence more concise.
I'm talking about the retail forex business - people I know.
  • #376
  • Jun 17, 2017 10:22am Jun 17, 2017 10:22am
I am just saying, it takes longer than people think it does, and it costs much more than people think it does.
  • #377
  • Jun 17, 2017 10:24am Jun 17, 2017 10:24am
Quoting Catch-22
{quote} I'm talking about the retail forex business - people I know.
What are those in the retail Forex business saying or, don't believe in? They must have accomplished something themselves if they're in business...
It takes money to make money.
  • #378
  • Jun 17, 2017 10:27am Jun 17, 2017 10:27am
Quoting Catch-22
I am just saying, it takes longer than people think it does, and it costs much more than people think it does.
I think it generally takes 5 years to figure it out (if you're starting from scratch with zero mentors or anyone personally teaching or shortening that learning curve).

If they haven't figured it out in 5 years then it might be good to set themselves a time limit as a rule. For example, it's been 5 years but I'll give myself another 2 years. If I don't figure out how to make money in the additional 2 years then I'm quitting!
It takes money to make money.
  • #379
  • Jun 17, 2017 10:35am Jun 17, 2017 10:35am
Quoting Harpy
{quote} I think it generally takes 5 years to figure it out (if you're starting from scratch with zero mentors or anyone personally teaching or shortening that learning curve). If they haven't figured it out in 5 years then it might be good to set themselves a time limit as a rule. For example, it's been 5 years but I'll give myself another 2 years. If I don't figure out how to make money in the additional 2 years then I'm quitting!
They doubt trading is realistic. Many reasons being that people lose their money in their first periods, they start scrounging money up, rely on signals, don't use money management.

I'd go with that analysis of time. Even if they have a coach, they never apply what they learn as they should, so it takes ages.
  • #380
  • Jun 17, 2017 11:00am Jun 17, 2017 11:00am
Quoting Catch-22
{quote} They doubt trading is realistic. Many reasons being that people lose their money in their first periods, they start scrounging money up, rely on signals, don't use money management. I'd go with that analysis of time. Even if they have a coach, they never apply what they learn as they should, so it takes ages.
It's in our nature to be stubborn so we all have to learn things the hard way. That's why we're stubborn to become traders. Even though a lot of people make fun of noobs, they were noobs themselves once. It's just a part of the process of maturing. But I agree, it takes some people longer than others. This is true with anything.
It takes money to make money.
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