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Why I trade Forex? Hbu?

  • #21
  • Jul 1, 2016 12:17pm Jul 1, 2016 12:17pm
And it's not totally clear yet about "freedom forex will provide"... If you're devoured by it quite enough, you can be glued to display much stronger than at a usual job. Lots of people trade because of gambling feeling about their money - once in, never out.
  • #22
  • Jul 1, 2016 1:41pm Jul 1, 2016 1:41pm
I personly don't trade for money. For me it's just hobby. I don't play with big money, just for interest.
  • #23
  • Jul 5, 2016 10:33pm Jul 5, 2016 10:33pm
The reason why i chose to trade is because of the lifestyle you can get and the financial freedom if I do become a successful trader. I got into the market, specifically currency/forex, when a friend introduced me to it. At first I thought it was interesting and during this moment i didn't know you could be 'rich' while doing so. I pretty much looked at currency pairs especially AUD/USD since I'm Australian, whenever it came into mind, which was quite frequently. Then after highschool, I went for option A and after a variety of jobs i realised that it wasn't for me. I wanted to work for myself, maybe because my family have their own businesses and i wanted a lifestyle where I can do anything i want. I then went through youtube and saw successful traders and their life, how they had a big mansion or their supercars and i saw an opportunity. It's been abit more then half a year now and i realised that, this is not as easy as i thought it would be Lmao. Anyway, im on the road to become a successfuly trader, and by that i mean, a profitable trader. Atm im still 20 and i don't care about making big $$. I just want to make a profitable strategy that can work in the bipolar market.
  • #24
  • Jul 6, 2016 12:46am Jul 6, 2016 12:46am
Quoting Jart
And it's not totally clear yet about "freedom forex will provide"... If you're devoured by it quite enough, you can be glued to display much stronger than at a usual job. Lots of people trade because of gambling feeling about their money - once in, never out.
Yeah, a highly addictive thing To speak on the topic, I started to trade just because this all is rather interesting for me, all those stuff with charts, trades, analysis and so on. Not consider it's pleasant to see profits going into your pocket Maybe I will be a good hobby trader over time.
  • #25
  • Jul 6, 2016 7:25am Jul 6, 2016 7:25am
Quoting Twinkletoes
The reason why i chose to trade is because of the lifestyle you can get and the financial freedom if I do become a successful trader. I got into the market, specifically currency/forex, when a friend introduced me to it. At first I thought it was interesting and during this moment i didn't know you could be 'rich' while doing so. I pretty much looked at currency pairs especially AUD/USD since I'm Australian, whenever it came into mind, which was quite frequently. Then after highschool, I went for option A and after a variety of jobs i realised that...
That's good that you want to be financially independent. the main thing is to be ready that trading is a great work, that need a lot of time and patience. You should be ready for losses. but after every loss goes profit. I know it from my own experience.
  • #26
  • Jun 4, 2017 3:52pm Jun 4, 2017 3:52pm
When I joined this market place I took it as a casino and tried to make money very quickly . as a result fallen a great loss due to lack of exact trading knowledge , it would be great if we take this market place as professional things. Otherwise we will be loser.
  • #28
  • Jul 10, 2017 5:09pm Jul 10, 2017 5:09pm
Quoting LuckyD
I personly don't trade for money. For me it's just hobby. I don't play with big money, just for interest.
Honestly speaking, I have never found at any guys who takes forex as a simply hobby and also profitable from here. Because if anyone takes this market place as a part of hobbies , he or she will not be gainer . because men are not willing to grant more hardworking and dedication in their hobbies which is more appropriate to get maximal result in Fx.
  • #29
  • Jul 10, 2017 5:23pm Jul 10, 2017 5:23pm
Not to chance agree with you. Dedication, hardworking can be a part of hobbies. We can’t avoid it. But it’s true by taking Forex as a hobby it is quite difficult to be a successful or professional trader.
  • #30
  • Edited Jul 12, 2017 5:33am Jul 11, 2017 2:18pm | Edited Jul 12, 2017 5:33am
I trade Forex for the same reasons you do. Plus, I can't stand going to work in office where people are friendly but aren't your friends. I want out! I wish I discovered trading Forex sooner.
  • #31
  • Jul 11, 2017 5:27pm Jul 11, 2017 5:27pm
Quoting IHeartPips
I trade Forex for the same reasons you do. Plus, I can't stand going to work in office where people are friendly but aren't your friends. I want out! I wish I discovered trading Forex sooner. I am just getting started.
Not clear the message you have explained. If you just started Forex trading please not to focus to get maximal result by trading and don’t try to revenge at all from this trading place. It could be dangerous. always keep learning and trade in a demo account at any broker for practicing.
  • #32
  • Jul 12, 2017 5:24am Jul 12, 2017 5:24am
Quoting JamesFaulkn
{quote} Not clear the message you have explained. If you just started Forex trading please not to focus to get maximal result by trading and dont try to revenge at all from this trading place. It could be dangerous. always keep learning and trade in a demo account at any broker for practicing.
I don't understand your response. It appears you misread what I posted.
  • #33
  • Jul 16, 2017 4:57pm Jul 16, 2017 4:57pm
Quoting Jart
And it's not totally clear yet about "freedom forex will provide"... If you're devoured by it quite enough, you can be glued to display much stronger than at a usual job.
Lots of people trade because of gambling feeling about their money - once in, never out.
May I correct you a bit
Forex is neither gambling nor an easy money.
It's a.... job!!! You put in time, you get $$$.
You cut corners, your bank account looks empty !!!

So that's the freedom - if you're good, you get the $.

Info for newbie traders!! Below:

Glued to the display - I used to do it. It's useless.
Learn what moves the market and you trade without computer or signals, paid fake cr.p. etc.

But you need to put in time. Need knowledge. Need painful experience....

I was in two idiotic forums - what a waste!!!!!!
Now in FF - feels great. So many great traders (and dozens big mouths).Go to EU thread.

Why do I trade??
First - boredom.
Second - recover loss
Next boredom again.
Then found a system bringing good profits.
Didn't follow it - overtraded.
Next recover loss.
Then realised on different frames you do different strategies.!!
Then building up accounts.
That demo you see below is a mix. Do not follow blindly!! Trading for glory!!
Now fixing another loss

Trading smaller frames - more attention needed but less risk.
No overnight trades!! Sort-of.
Be patient!!!!!

So trading for knowledge became trading for money, then for minimizing risk. Less risk = more profit.

GL.
Beware of robber banks (RB), bad advisors.
  • #34
  • Jul 17, 2017 2:17pm Jul 17, 2017 2:17pm
Basically mostly traders come into Forex due to earning money very rapidly, and when they try it practically ultimately they fall a great loss due to lack of real market principle.
  • #35
  • Jul 17, 2017 7:22pm Jul 17, 2017 7:22pm
I started trading purely out of curiosity.

I'd sometimes hear people talk about stocks, shares, forex markets etc, and because I didn't know anything about them, I decided to learn what it was all about.

Of course, I understood the basic principles of how supply and demand determine price etc, but no more than that.

Never did I think about being rich, or driving a Ferrari etc. It was clear to me early on that to make a lot of money, you have to have a large amount of capital, and be willing to risk it. I did think that an extra $100 a month (if I could get it!) would be a nice reward.

I massively underestimated just how difficult trading actually is, and that making profit consistently requires a carefully planned, meticulously executed strategy.
  • #36
  • Jul 19, 2017 2:43pm Jul 19, 2017 2:43pm
Quoting Forex-Jedi
I started trading purely out of curiosity. I'd sometimes hear people talk about stocks, shares, forex markets etc, and because I didn't know anything about them, I decided to learn what it was all about. Of course, I understood the basic principles of how supply and demand determine price etc, but no more than that. Never did I think about being rich, or driving a Ferrari etc. It was clear to me early on that to make a lot of money, you have to have a large amount of capital, and be willing to risk it. I did think that an extra $100 a month (if...
Me also. I have kick off Forex trading due to inquisitiveness. I have known 95% plus are .loser from here but they don’t give up. Why they don’t give despite of huge losses, just because of this curiously I have come this market place.
  • #37
  • Aug 4, 2017 2:41pm Aug 4, 2017 2:41pm
Quoting Mingary
{quote} sure thing.. The so called "passive income and residual income" is the pipe dream of the total failure in life - or at least the totally misinformed - same as "the forex pipe dream" - (but they still have money to give to motivational gurus!) Yes, they should read a business book or put themselves through business school. https://www.youtube.com/watch?v=YfA2jO47RGY Part 2 was never broadcast due to pending lawsuits from Kyosaki and his kind (pipe dream sellers) or the reporter was otherwise "persuaded" not to continue. People...
That is one of the best videos I have ever watched. I could feel its subtle sarcasm towards the hypocrisy of the wealth training industry in our era. It's sad so many people got sucked into their fairy tale ideologies without realising the reality.

The forceful mental instilling of beliefs through verbal affirmation (as shown in the video) that one will be successful and rich, taken to the extreme, can be bluntly be put as a cultish-like practice. It might be highly motivating to individuals but comes at the cost of self deception, blinding one from seeing the reality.

The part where the two young 'kids' were asked about their financial status is hilarious. They were taught to work towards getting rich - invest, set up businesses and all that craps. But they are already deeply in debt, after investing in costly wealth seminars and risky property investments.

Nothing wrong with wanting to get out of the rat race, investing, running businesses and stuffs. What these gurus purposely fail to mention is that the chance of succeeding in investing and running businesses profitably in the long run is extremely low. And I also want to add in here, the Forex trading field and other high risk investing fields like trading equities are in this category as well. You need to put in A LOT of hard work and time, you need to have a lot of risk capital at your disposal, you need to be ready to encounter countless difficulties/setbacks/challenges/loss of capital, and be prepared to fail again and again, with absolutely no guarantee of success in the end. How many of these people who spent their hard earned money to learn their 'secrets' will actually achieve their goals, I wonder.

Be very wary of (if not stay away from) cults, I mean... wealth gurus!
'For the market to work, it needs people who think that they can beat it.'
  • #38
  • Aug 15, 2017 8:41am Aug 15, 2017 8:41am
I trade Forex for many reasons - I find it an interesting intellectual challenge, through it I meet interesting people I can talk to, and, of course, because I can make money if I trade well. That last reason should never be underestimated.
  • #39
  • Aug 17, 2017 11:30am Aug 17, 2017 11:30am
Yes, I am trading for financial freedom! But, in my trading, I already removed my trading equity & balance bar! Because, in my trading I always try to focus on the process that I have made in my plan! Forex is the best option for me!
  • #40
  • Aug 29, 2017 6:14am Aug 29, 2017 6:14am
Quoting GeorgeBaile
Yes, I am trading for financial freedom! But, in my trading, I already removed my trading equity & balance bar! Because, in my trading I always try to focus on the process that I have made in my plan! Forex is the best option for me!
Have you got the financial freedom from here you have expected ? I have never found so many traders who actually have overcome their financial freedom very rapidly by means of Forex trading. honestly spoken .
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