Anyone trading forex for living?
Question:
Answer:
Yes, what is it you wish to know?
visit http://net-new.blogspot.com
Well not for a living, maybe not just yet. Will content with part time or pocket money for now.
But you may find the following article, chosen as a best answer before, helpful to you :
Take a look at the answer below, it has been chosen as the best answer, maybe it can help you. After 6 yrs of no success, it must be one of 3 things :
1. Psychology of Trading
2. Money Management - position sizing...
3. Technicals
Best Answer - Chosen by Asker
Are you already trading or thinking of going into it ? To trade successfully you need alot of discipline, patience, take the emotions out of it and be analytical.
Like all things some people make money some people dont. If you are, please try a demo first for at least 4 to 6 monts. If you cannot resist the temptations of "paper trade", to see all the profit you could have made but only on paper, you can start off with a mini account. I use FXCM. There is a demo version of it here http://www.geocities.com/lcming/forexboo...
Please do live trading even on mini after maybe 3 months of demo and you feel you have a sufficient feel of the market. To start off dont be too ambitious. Just cover maybe 1 major currency and a secondary currency.
After you have a feel then maybe you can get some tools to help you like forex signals. To start off with it would just confuse you. http://www.geocities.com/lcming/forexsig...
Forex is a very taxing mental game because it never sleeps, its 24/7 so you have to know basically when you want to trade. Dont chase the trading times, pick one that suits you. The market is always there. If not it would be "sleepless seatle". For a chart of trading times that suits your city you are living in check out http://www.geocities.com/lcming/forexhom...
Forex trading is built on 3 legs, Psychology of trading, Money Management and Technicals of Trading. All 3 must be balanced to be successful. Many people concentrate on the technicals becasue its something they can "touch and feel". But most times in trading you cannot control most of all the thing that will profit you or bankrupt you " The Prices", controlled ultimately by thousands if not millions of people like you and me plus the central bankers, the govt that prints money, and your local provision shop and banker. Good Luck ! May God Bless You !
* Start off with Dr Alexander Elder's "Trading For a Living" - great book that helps avoid every reinventing of the wheel. At least psychologically
http://www.geocities.com/lcming/forexfor...
don't do it with mini and micro account,,,,,
search swiss bank, they provide about 0.5-2 spread with aprox0.5 commision, i n some major
i guess they ask 100.000 deposit
I don't trust that system - another scam.
Try the links in http://www.hot8sites.com/trading/...
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