what is the best way to learn forex trading - Page 2
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Thread: what is the best way to learn forex trading

  1. #11
    Well allow me to tell you by a newb that must have stuck into his own system and perhaps he wouldnt have needed to rebuild his own account back to where it had been.
    1. Really only find a publiion that tells you the fundamentals ie. Definations key terms etc im sure pretty much any will do.
    2. Definately begin trading with a demo asap. I dosent matter if your winning or loosing you simply must learn about your broker and how everything functions. Trade during news to see how your ceases and orders will operate with the visitors etc.. KNOW EVERYTHING.
    3. Really all this info is good on here and I honestly enjoy reading it nonetheless most of the HOW TO TRADE!! Information it is really BULLSHIT!!!! . Im not taking anything away from these types of peoples expierence or the way in which they exchange but dont do something or only stick to a thread simply because these people sound like experts!!!! Because honestly in this market there's absolutely no expert!! IF you take a look at it there's a 50/50 shot at getting the market right you can either buy or sell. ITS THAT EASY.
    4 But definately MONEY MANAGEMENT is the key, and if you have a look at the guys making all the posts they will let you know first and foremost this is definitely the most crucial matter to success. There are some great threads about this and these guys have put some time and really helpfull information into it.

    This is only a thought on what I have expierenced the previous 6 weeks, and I've finally realized that you only need to do your own thing, be a leader not a follower. And should you would like to be good at something recall it requires time and energy. And I really like the Quote Either you're slingin' crack-rock, or you've got a wicked jump-shot. I forget that has it in there discreption however that can be the case in every sense of this term!!

  2. #12
    Thank guys for the help....please I've got another question, how can you guys earn per year on what level of investment. Please I need an answer, if u could provide me a range that could be great too.
    Also, can it be true that Currency Market trading is better than all other trades and why?

  3. #13
    Its a grueling procedure if your starting out using a little roll of change such as 5K-10K, In order to be comfortable you need atleast 50-100K in account to trade, basically its not worth the time and effort, unless you can pull in 5K-10K a 24 hr period. Lets say you typical 5K a 24 hr period. Thats 60K every fourteen days, or 120K a month. Or 1.4 mil each year. Lets say you're really conservative, and you also make half this, 700K each year. Half will get removed by taxation.

    That leaves 350K, for cost of living and expenses and funding to stay to innovate leverage and size. Lets say your frugal and do not visit your closest Ferrari dealer and dismiss 300K. It will take 5 years to get your account reach 1 mil, when departing 200K on your acct. When you hit 1 mil, at most you should control 10 mil, risking 20 percent on trade. Actually I leave 20 percent for drawdowns or enough so I do not get stopped out.

    If your successful for five decades, have your document audited by a respectable wall street accounting firm. Then begin a offshore hedge fund, cash will flow into your finance even in the event that you garner 15% year over year. Your finance would reach 1 billion in under five decades. Just take a 1% management fee and 20% cut of their profits. 1% of 1 billion, 10 million, 15% of 1 billion, 150 million, 20 percent of that 30 million, so every year you should take home approximately 40 mil, in the event that you honed your skills to this amount. Now to create 15% each year in FX, is extremely easy. On a fantastic day I will make 100 percent, but to get everything sync and proceed and the market move only the way you need it to, only surfaces around 1 or twice a month. If your sitting pretty handling a billion dollars you truly don't need to take that kind of risk it took to get there.

    If your good in FX in 10 years you ought to be handling a billion dollars.

  4. #14
    Thanks everybody for the help and advice, I appreciate it

  5. #15
    Spectre, on a related note (i.e. related to trading bigger quantities of cash ), what occurs with bigger orders when placed at:

    1) a broker once the trade surpasses the autoexecute limitation

    two ) a bank once you place an order that exceeds their autoexecute limitation

    perform the spreads widen, if so how much?

    Mainly I am curious to know about EURUSD or alternative majors.

    Of course I am nowhere close to being able to try it, but I'm just curious how these orders are handled. any insight appreciated.

    Quote Originally Posted by ;
    If your good in Foreign Exchange in 10 years you ought to be handling a thousand dollars.

  6. #16
    Quote Originally Posted by ;
    Its a grueling process if your starting out with a small roll of change like 5K-10K,'' In order to be comfy you require atleast 50-100K into account to trade, basically its not worth the time and effort, unless you're able to pull in 5K-10K per 24 hr period. ...snip
    Well, some of us don't have the luxury of starting with more than $5K. It'd take me years to collect 50K in starting funds, and by then I would be all set for a nursing home.

    So I am not going to be worried about managing hedge funds just yet. I am just going to concentrate on how to keep from losing too much of my first 5K.

  7. #17
    I can not even consider starting with that type of cash. I'd love to, but simply don't have it. I'm new to this, I am brand new. If you do not believe me check out my very first article

    https://www.forexforum.co.za/general...-big-deal.html

    Yep that's me. Luckily I have a seasoned veteran that's taking me under his wing in addition to with this great website to offer assist. My good friend who's helping me out put it to me like that. It is possible to make decent money with 1k, 10k or 100k it is all how you look at cash. If I start with 2k and that I create 2k at a month I just made 100% on my own money. That is good money I do not care what any one thinks. Turning something over 100% in a month is great regardless of the amount. Sure I wish to hit on the big dollars and that I will do the work to get there, but I will start with what I have and with the help of these forums along with my good friend I will arrive.

    This is a great article and I can not wait to start studying some of the others.

  8. #18
    Hi ladex and welcome to the forum.

    Attempt the stickies in this beginner forum.

    Here's a thread which will directly answer your query:
    https://www.forexforum.co.za/general...appointed.html

    Happy learning.
    East

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