[Chengiz88]

(11-20-2014 11:34 AM)JoeMusashi Wrote:  

If you want to trade into FOREX make bets only with money you're willing to lose.
Same goes for stocks.

You cannot compete with Wall Street's traders or professional traders from big banks AND you cannot compete AT ALL against the HFT (High Frequency Trading) Platform they use most of the times.

Good point. Having worked in a few banks. The big banks have a massive informational edge over retail traders. Unless you have a model/system that manages your risk effectively you will lose long term.

Me personally I cut losers vicioulsy. I dont care if they eventually turn in my favour, have a method of managing risk and you will always play this game.

[horn]

(01-18-2010 10:10 AM)Roosh Wrote:  

Isn't forex trading one of the riskiest ways to invest?

Yes, and by far the worst.

former pro fx trader,

[CimbomluBkk]

Forex is like online dating, top %5 cleans up the place

[Chengiz88]

@cimbomlubkk you must have some decent tips for trading TRY?

[JoeMusashi]

(11-22-2014 06:55 AM)Chengiz88 Wrote:  

@cimbomlubkk you must have some decent tips for trading TRY?

Don't do it unless you know what you're doing.

And, BTW, somebody said something REALLY close to reality in this thread...

Those who "say" don't "know".
Those who "know" don't "say".

[Sherman]

I don't recommend that anyone start trading. It is extremely difficult to make consistent money. You have to treat it like a business to have any hope of success. It doesn't matter whether you trade Forex, stocks, or futures. A lot of retail traders get into Forex because you don't need as much capital as stocks and can trade a mini lot which moves at $1 a tick. It's the affordability to underfunded traders which is its real appeal. Probably not a good reason to get in if you are interested in making a living.

If anyone is still interested, I found a good site that gives clearly written information on trading principles, and the guy gives out a lot of free information.

http://yourtradingcoach.com/

[Chengiz88]

Latest update on my Portfolio -

Swing trader (FX)

Portfolio open value - 10,000 GBP
Current portfolio value - 15295.44 GBP
ROI (After o/n funding charges) 52.95%
Trades - 52 (14 losers 34 winners)
Period - Sept 2014 - ongoing
Win/loss ratio - 2.43

I go tagged badly on NZDUSD, been playing USDCAD for consistent profits. Still up in the last 4 months overall.