Forex day trading

what the heck is that a copy and paste from an
FXmade EASY infomercial ?

-Forex is by far the most accelerated path to wealth in my opinion and I am most thankful for having discovered it. Starting with $1000 I was able to quit my job in real estate and put aside my real estate investing business and am making more money in one month than some of my former colleagues make all year.-


:p
 
Trading SpotForex is really no different than trading any other market, it is open 24 hours. But it has distant advantages over futures, like the carry trade. But really it just another instrument to apply a strategy to. If you have a strategy and have the discipline to trade it then you have what it takes.

I use the same strategy for everything I trade, the time frames may vary, but the underlying principle is the same.

Don't let anyone tell you you cant make it in Forex, I have and continue to do just fine.
 

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Quote from SethArb:

hi rick ... that P+L blotter ... now way you made 50 % on your money in USD / CHF in just one trade in last 24 hours ?

:confused:
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Oh heavens know,that is 18 months of hard work, and alot of interest payments. What made you think that was one trade?
 
rick ... do you ever daytrade or mostly swing trade? what markets do you find you do best and worst in ?

good luck to you
 
Quote from SethArb:

rick ... do you ever daytrade or mostly swing trade? what markets do you find you do best and worst in ?

good luck to you
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I only trade long and I like trading crosses that have been in multi year down trends base and turn up then trade from the long side, I gain from price appreation and from the carry, not to mention the interest paid on my unused balance. I like the wind at my back at all times. USD fits that bill for now.

I am becoming a bit uneasy about the inflation data coming out next week as I feel it will give the fed a reason to back off soon. This might be dollar bearish, but as long as my strategy says stay in I will.
 

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Quote from MountainTrader:

There are several reasons why Forex is so popular. One is that you can make 200 times as much money than trading stocks without more risk. In a typical Forex trading account your deposit controls 100-200 times the amount of your money that is deposited in the trade. Your risk is the number of PIPS in your stop loss. So you can trade with as little as $5.00 increments. Nevertheless, even if you trade with millions at a time Forex is superior.

There are only 6 major currency pairs compared with thousands of stocks. Forex is much easier to trade than stocks or commodities. The market moves 120-150 PIPS per day on most currencies and a 50 PIP movement represents 100% return in a 200:1 account. Many of us are seeing at least that much every day with a couple of hours of trading. Forex is by far the most accelerated path to wealth in my opinion and I am most thankful for having discovered it. Starting with $1000 I was able to quit my job in real estate and put aside my real estate investing business and am making more money in one month than some of my former colleagues make all year.

Most people are too negative and limited in their beleifs to recognize how incredible Forex is. But for those who do see the opportunity it is a wonderful gift.
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if you are doing it then good for you but otherwise what you wrote is just off the wall
 
If you like economics and politics and you trade with a good broker like IB or maybe Hotspot then in my opinion the odds are a little better than even as trading forex is a two dimensional game.

If you "just want to make money" and trade with a bucket shop (like refco, FXCM, oanda) then you will almost surely lose all your money and even worse you will not learn a thing.
 
Quote from mogul:

if you are doing it then good for you but otherwise what you wrote is just off the wall
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I think what Mountain wrote was just being sarcastic.
 
Quote from MountainTrader:

Starting with $1000 I was able to quit my job in real estate and put aside my real estate investing business and am making more money in one month than some of my former colleagues make all year.

Most people are too negative and limited in their beleifs to recognize how incredible Forex is. But for those who do see the opportunity it is a wonderful gift.
More...

Please share your system. With this sort of performance they'll be writing about you in the next edition of Market Wizards.
 
Quote from zf trader:

If you like economics and politics and you trade with a good broker like IB or maybe Hotspot then in my opinion the odds are a little better than even as trading forex is a two dimensional game.

If you "just want to make money" and trade with a bucket shop (like refco, FXCM, oanda) then you will almost surely lose all your money and even worse you will not learn a thing.
More...


Who is your Forex broker? IB is great for electronic futures, stocks and much much more, unfortunately IMO they are not as competitive and flexible in their Forex. I don't like paying the spread and a commission. I do trade thru them but not Forex.
 
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