breakeven strategy

A review of the profitable accounts at the larger Forex brokers typically shows about 40-50% of all accounts in a given quarter are profitable. The problem with Forex is not trading it since many are making profits, the problems are the bad Forex brokers - there are some which are regulated and have a good compliance track record.

Reposting what Jack_Larkin had posted.
"Though, even with brokers who do take the other side of your trade, it doesn't mean they are trading 'against you' in the "you lose: they win" sense. Quite often, market makers just hedge their exposure in the market the moment you open a position with them. It's just an execution model.

Evil brokers don't need to be a market maker to be evil, and being a market maker doesn't make the broker evil in itself. Evil brokers just have a few more tools to be evil should they be a market maker... if that makes sense.

Take Oanda for instance, they are one of the largest market makers by far, and they are anything but evil (do a BASIC search on them from the NFA site, not a single sanction or action against them by US regulatory bodies.. and yet, if you look up some well known STP brokers, you'll find many have a few claims against them for practices that impacted their clients negatively.)

Just saying. (The whole "all market makers are bad" sentiment some traders have is a bit naive. People don't realize that even their trades over an ECN will most likely hit a market maker of some type... spot is a made market after all.)"
 
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ilqar200 said:
hello.My name is Ilgar. I am from Azerbaijan. i have a few knowledge about forex trading. I saw in internet there are many brokers that offers promotions - deposit bonuses , rebate programs, cashback programs and so on. I have a 10000 usd capital in my electronic wallet. I want to start to trade with these promotions .After reading terms of these promotions i understand that to earn additional money from these promotions i must to trade a lot of time and in worst case trade to breakeven. Is there any breakeven forex strategy that opens many positions in a day and that i can use to trade with these promotions ? Or it is not worth to participate in those promotions ? Please give me advice.Thanks.
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Good question;ilgar.
Good news + bad news. Do NOT try to lean to trade with leverage[futures,forex options, leveraged stocks/ETFs; $10,000 may or may not be enough to learn; usually takes years= more money .Founder of IBD started with $500 cash stocks but he did not leverage ignorance- ignorance is where we all started. And just because Co magnum is doing something does not mean you can. At least with options, the bank can NOT shake you out of trade LOL. I made $200/+, once because some one @ bank gave me [wrapped]silver half dollar coins, instead of copper blend ; but that does not mean you or i could do that again LOL

Plan on profit, with years;
''break even'' is a loss --someone has to pay the power bill, food bill, ammo bill. You write English well; make sure you have Jack Schwager top Trading books, unless you all ready do??Wisdom is profitable to direct.........................................................................
 
comagnum said:
A review of the profitable accounts at the larger Forex brokers typically shows about 40-50% of all accounts in a given quarter are profitable.
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Man I ended up giving up on Forex years ago. I never could figure out how to make money there and shifted exclusively to index options.
 
Xela said:
Undeniable, but in this instance the OP's available capital of $10,000 perhaps makes that less of a consideration than it would otherwise be?





That's an enormously heavy-duty proviso, and in practice very rarely fulfilled by the inexperienced; most are market-makers, not genuine brokers.
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Same pattern; UK[United KinGdom] hedge fund manager/Jack Schwager warned ''do NOT run out of bullets- because then the elephant walks by!! '' LOL+ TRUE, XEla.[That means, when/if your forex broker '' breaks /broke you even'' or someone blows UP a leveraged account; then the elephant [big trend ] come$ by!!

In USA, most of Nasdaqqq[= stocks] market makers are quite fair , with a good limit order; market order maybe ok with real good million/ multi-million daily volume.[many prefer NYSE= more orderly.......]

PS I remember Don Bright DayTrading Co was real negative on most 4x brokers. Some are good but its still buyer beware/ seller beware; wisdom is profitable to direct.
 
stevegee58 said:
Man I ended up giving up on Forex years ago. I never could figure out how to make money there and shifted exclusively to index options.
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So what were the issues you encountered? I see no problem trading CFDs if you manage bets wisely and set reasonable profit targets.
 
doggyfx said:
So what were the issues you encountered? I see no problem trading CFDs if you manage bets wisely and set reasonable profit targets.
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Bottom line is I can't reliably predict price moves. Once I found methods that didn't require this missing skill I started making money.
 
stevegee58 said:
Bottom line is I can't reliably predict price moves. Once I found methods that didn't require this missing skill I started making money.
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Congrats; + congrats Steve58,on actually knowing the meaning of ''predict.'' NO one can predict price , if they could ,they could own ALL the world quick. I did note today you dont have to be an English major to be a profitable trader -investor. Plenty of profitable investors, much more than short term traders.................................................................................Good points.
 
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