Hi guys ...
I started this topic to let every body share there strategy. I want success stories ... Let me start first. I have been working on Forex for two years now. I have been in and out several times. I have tried many indicators some of them failed, and some worked. Over time I have learned how to read many indicators and over time I got to choose the right ones. My first year I have lost my account "margin call" many times, luckly I was investing like a 100 USD to 500 USD. every time the account capital zeros I fund it again and try another approach or a different indicator. at the beginning of the second year I started to win some money and my account started to grow but I become wanting more profit and then the account zeros. not too long ago, I invested 300 USD and turned it to +600 USD in less than a month. My account was at its highest which is +800 USD and now I want to become a full time trader, and try other different strategies that may work ... So now the question is, What is your story?
we might be talking to the next Bill Gates. You know because he's rich
I have mix experience of profit and loss in trading. Even loss is more than profit. I am expecting big profit this year.
I am a common forex trader, trading in Profiforex for a while. Actually, I am not a successful trader, usually lose my funds. Here I share my story to help the new traders get success.
After reading several forex education materials, I registered a standard account and deposited 500$ in it. Maybe you have thought out the result of this account, I lost all the 500$. It was a big shock for me. I intent to make money using this 500$, but the result was the opposite.
Later I joined a forex learning course, on the course I studied the fundamental analysis, technical analysis, and etc. Then I traded on demo account for about 2 months. After that, I opened a micro account in Profiforex. This time the result is better. Finally, I find out the better way to start forex trading is from demo account to standard account.
It is like that sometimes, l like your courage.
Failure began my success story. But I am proud I didn't get my hope rusted and disposed after several losses. My strategy is more of psychological than the usual indicator, stochastic thing. I employed professional caution in the forex and sacked bankruptcy from my FX life. This was because I chose to be duly critical, looking into every detail. And I don't even let my guard down even if trading with honorary regulated brokers. From my lessons I saw that the best regulation you could give your broker was the personal monitoring not necessarily their official licensing. After all if regulation was that strict how can about the embarrassing MF global scandal,Wall Street chaos or the euro-zone crisis, some say regulation is bureaucratic protecting only the top men in the market hence they prohibited such a protective activity like hedging where the common man clients can make up to 8% per month. Hence a good number of persons prefer transparent offshore brokers with decent trading policies than the inflexible bugged regulated ones. What do you think?
You have said a big truth about the stop loss, which is a very foundational component of every strategy. A better option to the traditional stop loss now making the rounds in the market is the trailing target. So instead of saying close my positions when my losses drag my margin to this point, you say close my positions when my losses reach so and so so of whatever I am having at that point. So it isn't static like the former as your exit point or limit prices go hand in hand with the market price, and a trader using this can be certain of the money he is making from a trade.
success in Forex is not easy, because the forex has a very high risk, with the risk that we need to be careful with forex. For that we have to be patient and disciplined when trading. much to learn and practice is needed in forex trading
I haven't any outstanding experience yet, but I'll be glad to share a very interesting one here. But before I do that, I would like to appreciate the one that started this thread, wonderful one indeed.
The experience I want to share is located at: How to Trade Forex: How I Succeeded as a New Trader, am sure everyone us can relate to it, make out the time to read it.
i still not sucessfull with forex market. i hope i will success in future. i think we can make money with it. but we don't have menthod to do it.
a success story? i wont say its a success but its a good one, i started trading in 2011 with a capital of close to 200 dollars, i blow my account about twice and i kept of going and starting all over again, here i am now after trading almost 3 years with hotforex i i managed to grow my account to a decent 4 digit one (wont mention exact to shy LOL) and its been a good ride.
I feel not Become a successful trader and in my opinion is not easy to be a successful forex trader Because is a very high risk. so to Become a successful trader then we need to continue to improve trading skills which is good if you want to succeed in forex