Success in Forex

Discussion in 'Forex - Currencies Forums' started by rachel, Aug 14, 2014.

  1. rachel

    rachel Member

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    Has anyone here experienced consistent profits with online forex trading? If so, what broker do you use? What strategies have you found to be successful?
     
  2. dianethare

    dianethare Senior Investor

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    I am yet to really get my foot through the door with forex trading, i actually joined a forex site that i found on this forum called The Forex Championship but my computer has a few glitches that am trying to sort out in regard to trading online, once i get that fixed, am diving in deep, though like you, i 'd like to know who has aced this particular field, it'd be awesome to learn how they do it. :)
     
  3. joshua minaya

    joshua minaya Active Member

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    When it comes to trading in the forex market it is very possible for an individual to have a good number of success stories particularly if the person has a good strategy and also the discipline to execute it. However as easy as it sounds not many people have this kind of virtue
     
  4. dariel2323

    dariel2323 Well-Known Member

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    I am using "Etoro" is a very good platform for Forex trading. It's also perfect for beginners, because it offers to copy the best operators. I personally have very good experience using that platform. I've won lots of money doing almost nothing, only to choosing the best operators.
     
  5. SamClemensMT

    SamClemensMT Well-Known Member

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    Become a hunter

    To be successful in forex trading you need patience. Don't get involved in too many trades. Trade the longer time frames (H4 and higher). Always have a gain/loss ratio of 1.5:1.0 or more, Never risk more than 3%-5% of assets under management (AUM).

    I think that's everything. The broker is the least of your worries (so long as they have a good reputation in the forex trading community). Follow my list and in time, gradually, you will start to see progress and profit.
     
  6. systematicfx

    systematicfx Member

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    Risking 3 to 5% of your capital is a recipe for disaster.
     
  7. Rucvz

    Rucvz New Member

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    I trade with about 4,000$ usd and I trade full lot orders. I go watch the market for entry points where I can jump on and make 20+ pips. Many times I sell around $30 but with $8 fee, you get the picture. I will make these trades 5-7 times a day some times making at least $50 - $100 a day or more some times. Yes I have losses, some times more or less. In reality, it's best to cut your losses asap in the start rather than bleeding. Cut the loss at $35 is not bad because you can easily make that back if you know what you are doing. I practice this every day, and so every week I get better at this, and I am so greatful because it had been good so far. It has afforded me around 5%-10% most of the time. I forgot to say that I try to watch the market for at least 25-20 mins before making any trades ever.
     
  8. dianethare

    dianethare Senior Investor

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    Just a short query dariel,...how much do they require one to have as minimum balance to join ?... is the same minimum balance required to trade with or one will need to top up more so as to trade?...will appreciate your replies :).
     
  9. abcapital

    abcapital Guest

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    Success in forex is tough. At this point I my trading has improved significantly. But I do not think this it is as a result of my system. It is as a result of getting more knowledge of the market and myself. I can literally take any system or indicator and make money with, this is as a result of how I see the market and interpret it. So many traders do not understand what is happening in the market all the time, and this results to losses. I have been a victim of this but now I have made my way across and this is after four long years. I now get an 80% win rate on my positions every month and I keep getting better by the day. I am offering to help anyone that is interested in what I have learned so far and how I am getting an 80% win rate.
     
  10. SamClemensMT

    SamClemensMT Well-Known Member

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    By the way success in online forex trading doesn't come easily. The data I'm aware of suggest that most trader (95%) actually lose money. So, the real question is how do you become part of the minority who have managed to master small time retail forex trading. It can be done but it takes certain knowledge and temperament. I say small time because retail traders are typically managing accounts of $1,000 to $100,000 while the large players in the forex market move 100's of millions of dollars in and out of the market profitably every day around the clock.
     

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