How do i start trading in foreign currency and how do i make money of it

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Hi Im new to foreign trading how do i get started and how do I make money

 
best thread ever!
 
Adr1an:

Hi Im new to foreign trading how do i get started and how do I make money

You most likely wont make any money, rather the opposite but if you insist here is a good place to start: http://www.babypips.com/school/
 
Man... this is the question I really wanted to ask all this time :). Finally someone gather the courage to ask this simple question. Now who's gonna step up to the plate and show us the ropes?
 
McKeen:
You most likely wont make any money, rather the opposite but if you insist here is a good place to start: https://www.mql5.com/go?link=https://www.babypips.com/learn/


Thanks for the info Mckeen. IM learning alot.

 
zzuegg:
best thread ever!



McKeen:
You most likely wont make any money, rather the opposite but if you insist here is a good place to start: http://www.babypips.com/school/

Best answer ever!

V

 
Adr1an:

Hi Im new to foreign trading how do i get started and how do I make money

Ya, first of all you must learn how to trade from scratch. and find a strategies that suit you. even you have a good strategies in hand now, without experience, i think it is not enough too. simple.... Good strategies + Good discipline + money management. to be honest, until today, i still loss money. but when i see back my result, actually i win, i win in pips, but loss all my money nearly 10 k. but, what i can see is here i don't have discipline. One more thing, you must learn how to loss then how to win. Erm, i dont know.... i hope will help you. Just climb one by one step. nothing is fast.
 

Hi

Forex is a great way of making money. Make sure you are trained well, start small with money you are able to loose. Small trades take the emotions out of your trading. Markets is 80% emotions and 20% strategy. Once you have the emotions under control you will be able to make money on most strategies.

Remember PEOPLE makes money not STRATEGIES.

So Go for it!!

Be Great! and just do it!

johan

 
johanmalan:

Once you have the emotions under control you will be able to make money on most strategies.

Then why isn´t more of the 100´s of experts (if any) coded by myself, others on the forum, and probably by yourself profitable? No emotions in automatic trading strategies...

 
McKeen:

Then why isn´t more of the 100´s of experts (if any) coded by myself, others on the forum, and probably by yourself profitable? No emotions in automatic trading strategies...


HI

I have manualy traded the Forex market sucsessfull for a while now. Most people are plain lazy to learn and they are always trying to catch the big one or the "get rich quickly" . I spend more than 2 years training and studying the forex markets before I got sucessfull but I have started only 6 months ago to code my strategy into an EA. Currently I use a few EA's during the day to find trades and as the trades progress I load different EA's to enter track and close my trades. So I am still watching it 10% of the day only. Making sure that the EA is following the trades as it should. And I do make money.

Currently I am finishing up the final part of my strategy. I will then use 5 Different EA's to find, enter and track trades. And it is sucessfull. My next and final mission is now to combine them into 1 EA that will take total control and will not need my intervention during the day.

So Forex can be traded sucsessfull. I started on Mini Account and trade size was 0.01. Most people laughed at me and said I was waisting my time with such small trades. I increased my lot size after every susessfull week. So it takes time as you can see. You cannot program an EA without having a sucessful strategy. Finding a sucsessfull strategy takes time and patience. Once you have it you have to put some real money in the strategy (small) to prove it works, then only you can start to write EA's. Not the other way around.

You keep trading your strat with small money and I mean small until you can trust yourself with your strat. Then Only you start thinking to write EA's.

High returnes - Have to do the work!!!

johan

 
johanmalan:


HI

I have manualy traded the Forex market sucsessfull for a while now. Most people are plain lazy to learn and they are always trying to catch the big one or the "get rich quickly" . I spend more than 2 years training and studying the forex markets before I got sucessfull but I have started only 6 months ago to code my strategy into an EA. Currently I use a few EA's during the day to find trades and as the trades progress I load different EA's to enter track and close my trades. So I am still watching it 10% of the day only. Making sure that the EA is following the trades as it should. And I do make money.

Currently I am finishing up the final part of my strategy. I will then use 5 Different EA's to find, enter and track trades. And it is sucessfull. My next and final mission is now to combine them into 1 EA that will take total control and will not need my intervention during the day.

So Forex can be traded sucsessfull. I started on Mini Account and trade size was 0.01. Most people laughed at me and said I was waisting my time with such small trades. I increased my lot size after every susessfull week. So it takes time as you can see. You cannot program an EA without having a sucessful strategy. Finding a sucsessfull strategy takes time and patience. Once you have it you have to put some real money in the strategy (small) to prove it works, then only you can start to write EA's. Not the other way around.

You keep trading your strat with small money and I mean small until you can trust yourself with your strat. Then Only you start thinking to write EA's.

High returnes - Have to do the work!!!

johan

Ok that is very encouraging to hear - that some people can do it.

I recently started a thread asking people to step forward if they were successful and replies weren't really overwhelming (well actually some of them were), thats why I had a bit of a pessimistic tone before.

But now I lift my hat off to you!

Some interesting reading on the subject: https://www.mql5.com/en/forum/127418 + https://www.mql5.com/en/forum/127999

/ McKeen

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