Is Forex Profitable?

[blurinvestor]

Starting tomorrow I would like to open a demo account for GBPUSD to see whether forex is profitable or not.

I am willing to give 500 pips to the market, if it takes out my 500 pips I will concede not profitable, at least for me.

(broker time 5:40 is 10:40 local time)

I will long when price crosses above 200, 50, and 20 EMA and let the market decide.

 

[Perisher]

Starting tomorrow I would like to open a demo account for GBPUSD to see whether forex is profitable or not.

I am willing to give 500 pips to the market, if it takes out my 500 pips I will concede not profitable, at least for me.

I will long when price crosses above 200, 50, and 20 EMA and let the market decide.

You are posting your learning journey? nice.

 

[MuppeJack]

Yes it is profitable, it can be not profitable too

 

[wahkao3]

if you are good, yes forex is profitable

 

[blurinvestor]

Yes it is profitable, it can be not profitable too

Impress, hope I can learn from you.

 

[blurinvestor]

if you are good, yes forex is profitable

still learning so the chance is pretty low.

 

[blurinvestor]

waiting to long.

daily average is low hence target 20 to 30 pips.

 

[blurinvestor]

Target hit. Things I can do -

Don't be greedy closed and take profit.

Let the winner run.

Close partial - which I did close 1 trade.

 

[blurinvestor]

Now, this is a classic example why not to be greedy

Now have to pray for it to go up

This will test your emotion if you are not a cold-blooded emotionless like me

 

[blurinvestor]

on a serious note the price will still go up quite abit, let see

 

[blurinvestor]

When price moves up and down, the best thing to do is to turn off your computer.

But this require a winner mentality that you have to cultivate - believe, think rich, dream rich but do not boast about it.

 

[blurinvestor]

Minutes ago price double my target. As I wanted to close all trade I realize that I don't have the script to close all the trades, now pray again


no worries price still have some upward strength

maybe I will captured a screen shot later and consider closed for today
really amateur

 

[NewInvestor]

A senior banker once told me that 80% of people who trade forex end up losing money. Dont know how true. That's why I never touch forex. It does not mean u can't make money because you could be in the 20%. I think the 20% jiak the 80%?

 

[blurinvestor]

A senior banker once told me that 80% of people who trade forex end up losing money. Dont know how true. That's why I never touch forex. It does not mean u can't make money because you could be in the 20%. I think the 20% jiak the 80%?

No. I'm not in the 20%, don't know how to close all trades and now have to wait long long for it to go up cos US ISM Non-Manufacturing PMI news is coming in half an hour time. It is like watching the tsunami hitting you

Tomorrow must write a closed all script else get stuck in the market again and see stars

 

[blurinvestor]

Here come the tsunami

80% of the traders never respect the news therefore see stars

80% of the traders not familiar with the trading platform hence see stars

Wait the market is very lenient to me, it did not take my 500pips but I won't be lucky the next round. Always remember 24 August when the black swan decided to pay you a visit.

This will be a long wait for price to be in my favour.

This morning was out to spend time with a friend that was badly, badly burned. Too bad if you ignore the signal when china garment played the market.

Economy news is something you need to master.

 

[blurinvestor]

Never under estimate PMI and its effect in the market. It is as great as a tsunami

Another thing to take note is the higher time frame for this pair is bearish and it is advisable for 80% of the traders not to long it.

 

[blurinvestor]

These are the indicators that tell me I have to wait long long before price is in favour of me.

Currency strength USD is 7 GBP is 2. Must you be a forex expert to tell the difference.

Market sentiment between USD and GBP more people are buying USD.

GBPUSD pair sentiment more people are selling this pair.

Hence I will wait until the cow comes home and pray that my neck won't get longer.

Is there a way to salvage this loss, yes - hedge this pair till they scared of you.

Or if you have deep pocket.

BTW if you have deep pocket short AUDUSD, GBPUSD till yellen surrenders

I'm a amateur so take my blur unprofessional method with a kg of salt esle you will see stars like me

 

[blurinvestor]

Yet, another indicator that is laughing at my position.

All these simple indicators are free in the internet, of which I hope if you are serious about forex, you spend time do your own research and serch for them.

Open a demo account and test them, don't sign up forex courses that promise you sky.

BTW I losing money hence don't follow my nonsense

 

[blurinvestor]

These free indicators floating in the internet are you sure or not?

See for yourself. This is trading secret that professional course would never teach you

They will impress you with bearish engulfing candle, Eliot waves, shooting star. Remember, I did a powerpoint project for one such trainer. For each bearish engulfing candle that shows the price drop, I can find 10 bearish candle that show the price moving up.

You don't look at the chart, like one chartist expert, and said must wait for today. Because after today he or she must wait for tomorrow. Yes, a forever waiting games. The market does not wait for you.

 

[blurinvestor]

Newinvestor talking about 80% and 20%.

If I say we must have a winner mentality, then, yes I belong to the top 20%.

I hope you guys have a good laugh at me now.

BTW have you ever wonder if there are only 2 pairs in the market - EURUSD and USDJPY. Let said there is no supply nor demand for JPY but huge buying of EUR. Where do you think these big boys and pig (they call them *******s) balance up and make sure every trading day they have millions of dollar to pocket? One go up the other must come down and with huge profit for them to pocket. O ya you might said market is regulated. Think again. These *******s are talking about changing luxury cars everyday, they are in the exclusive billionaire club.

Need to go now, lunch with a defeated guy.