How Many of you Trade with Forex??
By nawab_islam
@nawab_islam (145)
India
April 14, 2007 4:53am CST
Hi. I just started trading with Forex.com. Its risky. One can lose all his money in FOREX Trading but if one plays safe then he can become a millionaire in a decade or less time....so share your opinion....and experience
8 responses
@femimi (872)
• Indonesia
14 Apr 07
I've started forex trading for about 5 months, and still learning the technical and fundamental basic, because I think I want to be save trader, not speculator.
I limit my stop loss and trailing the profit to prevent me from greedy thing. I lost a lot before also, and from the experiences I know that I'm too naif in investment rules (high risk, high gain, and no one can always win in forex, so you must manage your risks). Now I'm trading with the money which not influence in my own cash flow, and using consistency of my own system, and then limit the stop loss. I think if the gain 5-10% per month is already good achievement, I never ask for more anymore.
1 person likes this
@nawab_islam (145)
• India
14 Apr 07
yes correct femini. Always use stop loss. yesterday value of EUR/USD has risen like mad. suddenly from 1.3430 to 1.3545. I bought it at 1.3420 and thought it will go down but didnt. Now the market is going against me. Yesterday i lost 90.6$ but thats ok. I will make that loss in a day...where do you trade?
@pipdude (5)
• United States
22 Apr 07
I have been in the Forex market about 4 years now. I find it quite fascinating and actually quite profitable. About 5 months ago I moved away from the charts and graphs and spending too much time in front of the computer. Now I utilize hedge trading strategies and just set it and forget it. I spend about 30 minutes a week managing my 3 accounts.
With the free time that I now have I spend more of it with my family and I love to help other people with Forex.
@pipdude (5)
• United States
25 Apr 07
Personally I like Forex much more than trading stocks. If you want the best way to learn the intricacies of Forex I suggest that you start with www.babypips.com. It is free and it is some of the best Forex education I have ever seen on the net.
Once you get the basics down with babypips, let me know and I will get you up and trading with a free demo account and i will teach you a few tricks.
Take your time and have fun.
paul
@gudangemas (84)
• Australia
18 Apr 07
exactly. It is risky, but if we can manage that risk, we will benefit from forex. I made many mistakes from my past trading, but that doesn't stop me, I learn from my mistakes. Forex is very promosing industry.
@collstarx (1177)
• Indonesia
14 Apr 07
Yes, it's true , I ever lose my money only in 20 menit , but I ever make money doble my money in 20 menit too, for newbie learn phisycology very important .
best regards
@scorpion7142 (59)
• India
14 Apr 07
It's great that you have syarted with forex trading,i myself trade in stocks but have not tried the forex trading yet.Be sure of onething that trading in any form can be addictive and you tend to loose money more quickly than you make.Always have a profit and loss target before you trade this way you will be able to increase your invested money without takin too much of a risk!!!!!!!!!!!!!!!
@nawab_islam (145)
• India
14 Apr 07
yes you are correct....risk is invlolved in all business. I use limit and stop loss options to minimise the losses. I dont keep a big margin. Difference of 10-20 Pips will easily fetch me 50-60 $. Thats enough for a day.....
@tihomir1 (2)
• Bulgaria
29 Apr 07
I am trading forex with interbankfx.com. I started 3 years ago with stocks and then I moved to FOREX. I am trading on small timeframes and mainly EUR/USD spot. Spent much time in process of learning and improving. Its risky business but you have freedom to chose how much to earn/risk and when to work.
Good Luck Everyone
@lameran (1147)
• Indonesia
14 Apr 07
I'm playing forex not at forex.com but at marketiva, it give me many knowledge about how playing forex, evethough only a minor knowledge since I'm just trying it,not trying to serious on it, my opinion is, playing forex really need a time to pay attention to the large information besides watching the graph, and on my little expirience it very2 great playing forex, other times I will try playing it again.
@AshokaTheEmperor (16)
• India
14 Apr 07
Hi, its good that you started trading in Forex. It doesn't mean that you have to play safe whenever you are trading, Just you to follow few strategies. I think you will be aware of few educational sites from where you can get more knowledge on trading.