How to become rich in FOREX trading? Instead of getting by? - page 12
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hiding taxes is a bad idea :-) if you want to stay rich, pay your taxes. otherwise in jail your poor and unfree. Risk Reward is negative lol.
Another thing is in forex trading in terms of taxes, you have to pay compared to stocks only the half percentage in the lower income ranges. (in Germany).
So if you get rich you can pay the taxes. There are a lot of ways to legaly optimise your tax load.
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You have done it the hard way. Isn’t the easier way is to find some consistent EA Strategies that you can trust? I didn’t know how to make one because when I started I didn’t have much knowledge about trading and markets. So one someone’s recommendation I opened a demo account with FinPro. I was in no hurry to start live trading. I then tried quite a few EA strategies on back history. I found out the ones I could trust which made regular profits. Now I have been using them on live trades for the past 1 year. And it’s been good. They are working for me. I make regular consistent profits without much effort. What I also used was Social Trading, under which I followed a few profitable strategies of some of the fellow traders. Even that was beneficial. And yeah you can even create your own strategies in the software but that doesn’t require any coding knowledge though. So that’s not tough.
Thank you guys for continue this thread. If you realize, I've been checking back this thread on a yearly basis. I looked at my posts dates, it's almost every March I'm back here. Reason being, March is a low season for me, where all my trades will get stuck or no trades at all. I can spend time reading comments without affecting my decision making. The motive of this thread was originally asking from where did other traders started with their "CAPITAL". I'm glad getting all sorts of useful, not so useful, funny replies from my band of brothers in the forex battlefield. So shall I run a small list as below:
1) Investors money
2) Selling signal, and must become 1 of the top 20s provider
3) Rollover and die, don't trade, don't eat, don't shit, don't sleep. Just go die.
4) Throw away my EA(I have not even mentioned I'm trading manually despite I'm a programmer)
Since last March, I've decided to look for a new job. I started working at a different are, which require me to travel about 60miles to the office, and after work had to travel all the way back. Things had become clear to me. I'll just have to hold on to my job, continue my trading since it only takes me few minutes in the morning to study the charts. I'll live on my bloody salary, and do not withdraw my profit, even if I do, will be sending the profits into other commodities as diversification. Without the compounding effect, I'd still get my few hundred thousands after 10 years. Continue doing so for the next 2~3 decades, I'll probably have to go die, and didn't get to enjoy the money I've made from trading, then leave some for the waifu & kids, the rest donate to charity
yes darling
Some traders will enter a trade at a 1 to 2 ratio, where there possible profit is double what they stand to lose. This is a good system for new traders that will increase your odds of retaining money if you practice it using multiple trades at the same time. However it is important to realize that only a well educated trader are able to gain successful result. I start my learning with babypips, and based on senior trader suggestion I start my account at amount 100 USD at account, as for now I keep sharpen my trading strategy with their ECN account at 300 USD. with low deposit I able to gain good trading condition to support my monthly gain.