Is Forex Profitable?

[blurinvestor]

I don't chase price. Let it go without me. That should be the way according to my road map. RR not good at this level.

 

[alexchia01]

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%?

Yes, it's true, but not just Forex, all trading and investment products in general.

80% of drivers without driving license end up crashing their cars, but does that mean you shouldn't drive a car?

No... go for lessons and get a driving license first, then drive a car.

Many people don't do this for trading because it's too easy to open an account and start clicking buttons. And it's not against the law to trade without any knowledge.

 

[blurinvestor]

map completed without me.

auction expire tonight 10pm - 1.1150. sit back and see how smart money play with auction and future. Remap after 10pm.

edit - option not auction

 

[blurinvestor]

Yes, it's true, but not just Forex, all trading and investment products in general.

80% of drivers without driving license end up crashing their cars, but does that mean you shouldn't drive a car?

No... go for lessons and get a driving license first, then drive a car.

Many people don't do this for trading because it's too easy to open an account and start clicking buttons. And it's not against the law to trade without any knowledge.

lessons are free on the internet. Don't take your license with those who promise you to make millions.

once upon a time I did forex without license and learned a lesson. I was, then, a triggered happy cowboy chasing after red indian, till I met the Red Indian chief

 

[blurinvestor]

coincidence, after 10pm then goes pass 1.115X

this same pattern repeat and repeat.
But well many traders make more money than me by trading future and option.

 

[blurinvestor]

maybe will visit 1.121X - 1.123X before going lower

 

[blurinvestor]

almost there

 

[blurinvestor]

that's it. Have to remap my expectation.

 

[blurinvestor]

My learning journey to seek the answer - Is Forex Profitable? I have found my answer and will continue to sharpen my skill.

 

[Optionstrader]

map completed without me.

auction expire tonight 10pm - 1.1150. sit back and see how smart money play with auction and future. Remap after 10pm.

edit - option not auction

Hi care to share more?

Sent from Asus ASUS_Z00AD using GAGT

 

[blurinvestor]

Hi care to share more?

Sent from Asus ASUS_Z00AD using GAGT

I am still observing, and suspect that option and future are vehicles set up by smart money. I observed that when there are huge big fat option sitting there at X, price will not touch it till option expired.

I could be totally wrong or my understanding is regarded as conspiracy theory, I'm happy to be able to make some pips out of it.

Above is my non-nonsensical nonsense.

But I know there are many future and option traders here, I hope they can come in and chide me and put me back in the right path about forex.

 

[blurinvestor]

Meanwhile even if my knowledge of forex is warp, I am happy to make some pips.

Avoid GBP, even my indicator give a very strong UP. avoid it at all cost, let it go up, rocket up without me. AVOID IT.

 

[xersion]

My learning journey to seek the answer - Is Forex Profitable? I have found my answer and will continue to sharpen my skill.

What's the answer?

Sent from OPPO X9079 using GAGT

 

[blurinvestor]

What's the answer?

Sent from OPPO X9079 using GAGT

I caught more than enough fish

 

[philipsony]

I caught more than enough fish

Mind sharing how long it took you from not knowing anything to learn till seeing small earning

 

[Clock]

i just started and i am in the sell postion for USDJPY at 102.923.
although the unit size is small but it is on the uptrend. sigh...
dunno wanna cut lost and move on or not.

 

[blurinvestor]

Mind sharing how long it took you from not knowing anything to learn till seeing small earning

I think time frame differs for everyone.
The steps taken by me -
1.searching for good info about forex;
2.ability to filter out bad resources - example: holy grail system, best indicator for forex; millionaires teaching you the secret to make millions in forex.
3.hundreds of hours testing system after system;
4.demo and demo and demo till you get all the basic right - what is indicators; lagging indicators; stop loss; trailing stop loss; news events; spike; spread; slippage; brokers; commodity currencies; risk on; risk off; correlation; risk management; etc.
5.don't start live trading until you can turn ten $500 accounts to $5000 consecutively.

If you start live trading and realize that it carries risk and ask basic questions then you should join the comedian forum.

Live account is a different ball games - tame your emotion; remain positive; don't be greedy; able to stomach draw down and still laugh and eat heartily. Draw down does happened when news or rumors just popped out from nowhere, regardless of how good my road map is.

I combined support and resistance; supply and demand; weekly pivot; price action, and news to create my road map (expectation and probability).

 

[blurinvestor]

i just started and i am in the sell postion for USDJPY at 102.923.
although the unit size is small but it is on the uptrend. sigh...
dunno wanna cut lost and move on or not.

yes uptrend, friday got news.

 

[blurinvestor]

i just started and i am in the sell postion for USDJPY at 102.923.
although the unit size is small but it is on the uptrend. sigh...
dunno wanna cut lost and move on or not.

you just started forex and you go live?
If so, maybe, you can use demo to get the basic right.

 

[alexchia01]

i just started and i am in the sell postion for USDJPY at 102.923.
although the unit size is small but it is on the uptrend. sigh...
dunno wanna cut lost and move on or not.

Cut loss and move on