Those who make the money in the forex market are the ones who don’t try to predict tops and bottoms and how far the market will move but who consistently take a little out of the middle of the trend with minimum risk, The only logical way to do this consistently is through a well thought-out, well-designed strategy ,For me, strategy trading is the only answer to the problem of fear and greed in the forex business; it is the only logical way to take advantage of the concept of Market Facilitation. First, trading a strategy provides the discipline necessary to begin overcoming fear and greed. Trading a strategy that has been back tested on historical, quantifiable data is a major way to inject discipline into your trading and to begin to control your fear and greed. If we think of a trading strategy as a small business, we can design our business to make money based on historical simulations. Then, our job becomes the implementation of the strategy rather than the interpretation and prediction of the market. If the strategy loses money and busts, we change the strategy. It’s a matter of good business sense. Second, if we know that the market must facilitate trade and trend to stay alive, we can devise strategies that guarantee that we will always be in for that inevitable big move. If we know that the big move will eventually come, and devise the strategy accordingly, our task becomes to minimize the drawdown while we wait. I have never been able to predict when the market was going to facilitate trade and get in for the big move. Instead, I have devised strategies to ensure that I will be in for the big ride and my losses will be minimized while I wait. It’s just a matter of good business sense. As a businessman, I have concluded that the only rational way to trade the markets is to trade a strategy. Predicting when the market will move up or down, and how far it will move is just probability and gambling
you blew my mind with this. i agree with you and this is the exact philosophy i subscribed to as well.
I can't agree more with this. It is very true and real. Those who spend their times looking at screens trying to predict tops and bottoms and how the market will go end up losing. It is always wise to take a break every now and then to monitor the trends from the side lanes
Making a living from forex trading is very possible. What matters is how well you get yourself organised, follow your trading plan and develop your trading strategy. It takes patience, determination and a lot of learning along the way. Before you make forex your main source of income, consider having a number of years of experience to be sure of what you are getting yourself into
Please share some screens or maybe some income levels with proof or something else. I also playing with strategies I copied from various forums, but only short terms and using unique currency pairs, like JPY/INR or something like that. Ther are some goldmines as well.
Since february i did earn 2000 Euro real money on my account which i have also link as a signal provider:
I ma trading middle term to long term strategys. I did learn that you need sometimes catch a good trend trade to bring your account forward and like you see i am also trading with real money and not so small amounts and at the moment i plan to bring this account up to minimum 100K.
With a 50K account for example and only 10% win per month you can live good from the trading because 5% from 50K is 5000 Euro and that is a lot for one month.
There is a saying “time is money” and this saying fits good to trading, because from technical view trading is not so difficult but the time and waiting is the difficult think. Thats also a reason why i offer my trading as a signal service because i want to earn more with the same time, because time is more worth then money.
but i am not one of this traders which try to show you 95% winrate with not using a stoploss and 100 open orders, i just want to make money with safe trading and in the long run this is also the only way which works. We have all see what happen with this signal providers which open endless much orders and dont use stoploss.
I know also that most people would like to learn themsels trading instead of copy other people, but it coas really a lot of time and work to learn trading.
When you select signal providers i can only recommend dont look just to winrate also look to the risk involved. Many open orders are often a signal for to much risk.
I agree with you fully. Those who spend their time in front of screens trying to analyse stuff end up with accounts reading negative. You need to take some time off and study the market from the sidelanes, especially if things arent going your way. With patience, discipline and determination, you can make a living out of forex trading