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Is Forex, a quick way to make money.

Ethan

New member
Forex is not a quick way to make money, if you know little about it to start off with. It could take months or sometimes years, of practicing with virtual money before you should try real money.
 

pro_forexer

New member
In my opinion trading on demo accounts for more than 1 month is not useful for traders and I think its better to start trading in small accounts to have real experiences.
 

pro_forexer

New member
In point of my view demo trading is just for getting used to platform and forex market,and more training small accounts will be more realistic to compare to demo acc.
 

macdonald

Member
i think you are right

i think you are right

In my opinion trading on demo accounts for more than 1 month is not useful for traders and I think its better to start trading in small accounts to have real experiences.

well i think you are right because in actual fact i think taking too long to go live can lead to a disaster ... i can make a demo account jump 400% in 14 days of trading and only trading 4-6hrs after work thus from 5pm (+2hrs gmt).. but now i have blown two live accounts and the last one i had to take my profit and run when it started declining... maybe someone can help...
 

amarr84

New member
I agree

I agree

Trading in live account isnt comparable to demo accounts.
I had several demo accounts with different forex brokers and I never lost money.Made money fast, 5000$ reached 15000$ in 4-5days ..but in live account I blew 2 accounts..its like $10000 became 1000$ in 10days.
 

maximo

Member
Even when trading live real account you can still use the demo account using the same broker to your advantage.

Step 1. Demo Account: allow 30 trades with your Expert Advisor, if positive pips over last 30 trades, apply EA to real account, but still continue trading with it on the demo account, you will see why in a moment.

Step 2. Real Account: if EA is showing positive pips in demo then, follow the same proceedure with 1 exception. Only trade real account when Demo Account is showing positive pips over it's 30 trade history of your Expert Advisor.

Using this form of Equity Curve Averaging, you should only risk a couple of hundred dollars to make thousands, because you are not trading with real money when the EA is in any kind of drawdown. Your equity curve in the real account will flatten instead of drawing down and it will resume its upward curve when the market becomes favourable for your EA strategy again :D

Note: if you load only your previous 30 trades in the account history. Metatrader will have the sum of the positive/negative amounts for you. Remember not to risk real $'s when things are negative. Keeps the real account on the up and up ;)
 

r00t

Member
Trading in live account isnt comparable to demo accounts.
I had several demo accounts with different forex brokers and I never lost money.Made money fast, 5000$ reached 15000$ in 4-5days ..but in live account I blew 2 accounts..its like $10000 became 1000$ in 10days.

Why did such thing happen? Were it technical issues from changing to live, or were it the nerves of risking your hard owned money?
 

Trade4Food

New member
it's a quick way to loose your money LOL
and sometimes your intire acount, hehe
I know for a fact cus I been there,
not once but 3 times before I finally got my stuff together
and started to actually win money,
trading is not easy!
it takes a lot of time and hard work to be good at it,
I agree with pro_forexer
demo acount is useless unless it's your very first time
and you never made one trade before,
but just useful to learn about what the different buttons do,
different entry orders and such,
thereafter you should quickly move on to a real live micro acount.
so you can start to learn the most difficult part of trading,
the psychology, your mindset, your ego, your limits,
with sweat pooring down your forehead when your position running against you.
you never get that in a demo
be honest with your self,
thats the only way you could improve.
:rolleyes:
 

Trade4Food

New member
Why did such thing happen? Were it technical issues from changing to live, or were it the nerves of risking your hard owned money?

it's the psychology,
it's the FEAR of loosing money
making you do things different than on the demo,
thats why;)
 

gwavas

New member
Majority lose,brokers usually have you by the short and curlies,a few win for a short period but will eventualy lose,no matter what the clever ones tell you,myself only trade demo for interest and small amount live despite a million indicators find it difficult to increase balance,its a gamble and I do better on the horses.
 
Majority lose,brokers usually have you by the short and curlies,a few win for a short period but will eventualy lose,no matter what the clever ones tell you,myself only trade demo for interest and small amount live despite a million indicators find it difficult to increase balance,its a gamble and I do better on the horses.

Don't listen this guy ^^^^

Experienced traders know money management and that's why they are successful. It's the only edge we have as traders based on how the market moves. You can be successful just trading off the 50 Simple Moving Average line as long as your money management is sound.
 

gwavas

New member
I must be stupid not to understand the question, is forex a quick way to make money?the answer is no,takes years of learning and losing,this guy must be one of the 4% who has won, maybe he could submit accounts and methods used, to us losers and make us all winners.I personally am open to everyone opinion,thats why i read the forums.
 
I must be stupid not to understand the question, is forex a quick way to make money?the answer is no,takes years of learning and losing,this guy must be one of the 4% who has won, maybe he could submit accounts and methods used, to us losers and make us all winners.I personally am open to everyone opinion,thats why i read the forums.

I trade based on methods I have learnt off of the paid forum part of this site, with money management techniques I have learnt online for free. I would post my strategy but I don't think the moderators would like it seeing as they would be losing out on potential customers in there paid forum.

Here is a video on money management where I have learnt some useful calculations.

!

Basics on how to trade. In an uptrend, buy on large demand(support) levels, TP at supply levels(resistance). In a downtrend, supports become resistances, so do the opposite.

How do you define Supply/Demand Levels? learn by your eye by watching and learning Sam Seiden Videos on youtube, or get a Supply Demand indicator such as these.
 

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TheKelmiester

New member
I trade based on methods I have learnt off of the paid forum part of this site, with money management techniques I have learnt online for free. I would post my strategy but I don't think the moderators would like it seeing as they would be losing out on potential customers in there paid forum.

Here is a video on money management where I have learnt some useful calculations.

!

Basics on how to trade. In an uptrend, buy on large demand(support) levels, TP at supply levels(resistance). In a downtrend, supports become resistances, so do the opposite.

How do you define Supply/Demand Levels? learn by your eye by watching and learning Sam Seiden Videos on youtube, or get a Supply Demand indicator such as these.

You really have learned that from the paid forums here? Nice to know it is a good system, I was curious about it. Also, thanks for sharing your two materials :)
 

carman

New member
Managed Account

Managed Account

One of the best ways to make a reliable income through forex is a managed account. If you find the right account manager you can receive a nice profit every month and it doesnt take long before your account muliplies and your profit increases
 

Murphy12

Member
Yes, Now Forex trading is not a quick way to make money. Current financial and economic crises also made it much difficult.
 
Hi,

Of course, Forex trading is a quick way to generate money. Forex market is the biggest financial market with immense opportunities for the traders to earn big and huge profit.
 

FreddieC

Member
From the forums I've joined and read..... honestly? No, not really. It seems to be a quick way to lose your money... but, you know, you can be successful in this if you know what to do. This website is a very good learning tool, I can tell you that!
 

paul077

New member
Forex is online trading company, is the way to make money online but it not possible to always succeed in trading market. There are lots of factors which have to be taken into consideration while trading, reviewing Forex market is the best policy to overcome the mistakes and failure in market.
 

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