What's your experience with Forex?

Thinking of learning to trade it on the side to slowly grow my capital? Doable if you are determined and have discipline (aren't emotional)?

If you are on this site, you are emotional. The key is to act using logic regardless of your emotions and stick to your decisions without falter. Also, study, do, study, do.
sephon wrote:pressure on nose is actually legit though since I have photo proof. It's deformed even more since I posted. I also left it for 10 mins and it did not deform back, though that's probably not enough time. I will post final results before and after I sleep.

Online forex exchanges are so small that even if you made significant money, it wouldn't be liquid.

I have never done forex but it would be a good idea to base your investments on political cycles in other countries.

BrickTamland wrote:If you are on this site, you are emotional. The key is to act using logic regardless of your emotions and stick to your decisions without falter. Also, study, do, study, do.

I am not really emotional when it comes to markets, because I know that first rule of markets is not to be emotional. As you see, I am mostly driven by logic. My looksmaxing does not come from imaginary BDD flaws, but realistic calculations.

I think cynicism and apathy are good traits for a trader. I'm not gonna be trading with sums that make my heart skip beats anyway. I will start small, maybe earn a few hundred a month for year or few, then slowly build up if I can keep it. It will be side income at first. First year will be spent demo trading probably.

mustang19 wrote:Online forex exchanges are so small that even if you made significant money, it wouldn't be liquid.

I have never done forex but it would be a good idea to base your investments on political cycles in other countries.

I would do technical trading only. No cycles in countries, no shitty, hyped up news. Pure raw candle sticks. Boring, technical, solid grind.

We really need a thread for making investment money but even the stocks forums are filled with bullshit and sound like gamblers giving each other advice at the roulette table
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You should trade futures / stocks and not forex.
Whimminz reactions when I try to be more "confident":
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Ceran wrote:We really need a thread for making investment money but even the stocks forums are filled with bullshit and sound like gamblers giving each other advice at the roulette table

Yes, gambling, martingaling, scamming, robots, ea's, internet is full of that. You have to try really hard to filter out actually legitimate info.

Anakind wrote:You should trade futures / stocks and not Forex.

What is your reasoning behind this? Stocks require higher capital for entry. I am not a millionaire yet. Looking to start small, but learn the fundamentals/technical knowledge. The candlestick trading will help with stocks in well.

AnalAbscess wrote:What is your reasoning behind this? Stocks require higher capital for entry. I am not a millionaire yet. Looking to start small, but learn the fundamentals/technical knowledge. The candlestick trading will help with stocks in well.


Forex is not a regulated exchange, just a liquidity pool provided for by the broker. So your own broker can work against you by taking the other side of the trade and skewing prices. Futures on the other hand are traded on a regulated and transparent exchange. Margin is actually not high in futures trading. You can probably open an account with 5,000 dollars and start trading.

You get way better leverage with forex. It is one of the highest leverages around. Meaning, you can make alot with little money. Ofcourse the risk goes up but still. Life is too short so forex is good for people with little money and little time.

Anakind wrote:
AnalAbscess wrote:What is your reasoning behind this? Stocks require higher capital for entry. I am not a millionaire yet. Looking to start small, but learn the fundamentals/technical knowledge. The candlestick trading will help with stocks in well.


Forex is not a regulated exchange, just a liquidity pool provided for by the broker. So your own broker can work against you by taking the other side of the trade and skewing prices. Futures on the other hand are traded on a regulated and transparent exchange. Margin is actually not high in futures trading. You can probably open an account with 5,000 dollars and start trading.


Not if it is a legitimate ECN broker.

BrickTamland wrote:You get way better leverage with forex. It is one of the highest leverages around. Meaning, you can make alot with little money. Ofcourse the risk goes up but still. Life is too short so forex is good for people with little money and little time.


More leverage is not necessarily better. Besides, futures have extremely high leverage potential. The collateral you put forth for the position is very small.

But the great thing about FOREX is the technical analysis. You don't have to know anything about the underlying currency, or pair. Just trade by the charts. The downside is, there is no volume or stock-specific cycle patterns to rely on, but there are many other tools to use.

AnalAbscess wrote:
mustang19 wrote:Online forex exchanges are so small that even if you made significant money, it wouldn't be liquid.

I have never done forex but it would be a good idea to base your investments on political cycles in other countries.

I would do technical trading only. No cycles in countries, no shitty, hyped up news. Pure raw candle sticks. Boring, technical, solid grind.


That sounds a lot more sketchy. I'm sure you'll lose all your money. But if you want to be somewhat sane then invest in developing countries whose currencies will slowly appreciate over time relative to the dollar.

Real estate is a far better investment than any online stuff.

mustang19 wrote:
AnalAbscess wrote:I would do technical trading only. No cycles in countries, no shitty, hyped up news. Pure raw candle sticks. Boring, technical, solid grind.


That sounds a lot more sketchy. I'm sure you'll lose all your money. But if you want to be somewhat sane then invest in developing countries whose currencies will slowly appreciate over time relative to the dollar.

Real estate is a far better investment than any online stuff.


Who the fuck invests in currency, rofl.

Soo, anyone here made any money with forex?
-gossipping
-deepthroating slayers
-sucking the blood of less attractive males and using them as an emotional tampon to soak up all their childish emotions while denying them sex

Lol at all the idiots thinking about " trading some forex on the side". If you manage to consistently avoid losing money you are in the top 5%. Then you spend all this time trading just to make an average yoy return of say 10% on your pathetic five digit bank roll. And that is until you have a bad year and give all your profits back.
I smoke a blunt to take the pain out
And if I wasn't high, I'd probably try to blow my brains out
I'm hopeless, they shoulda killed me as a baby
And now they got me trapped in the storm, I'm goin crazy

Wish I Was a Baller wrote:Lol at all the idiots thinking about " trading some forex on the side". If you manage to consistently avoid losing money you are in the top 5%. Then you spend all this time trading just to make an average yoy return of say 10% on your pathetic five digit bank roll. And that is until you have a bad year and give all your profits back.


That's why I invest my money in hookers. :D

mustang19 wrote:
AnalAbscess wrote:I would do technical trading only. No cycles in countries, no shitty, hyped up news. Pure raw candle sticks. Boring, technical, solid grind.


That sounds a lot more sketchy. I'm sure you'll lose all your money. But if you want to be somewhat sane then invest in developing countries whose currencies will slowly appreciate over time relative to the dollar.

Real estate is a far better investment than any online stuff.

Why do you think real estate is better? I considered it before, but here are the problems I ran into:
1) Most cheap properties are absolute shit and will cost a fortune to flooks discriminationaintain - how the hell will I profit from it?
2) The expensive ones require lots of investment and there is still no guarantee I will make a profit. Simple buy low, sell high does not work anymore. The bulletin boards are full of rental properties and general renovated apartments for sale. What is my edge here exactly? Where am I making the money?
3) I still have to somehow bypass the IRS with a huge purchase like that, but Forex/Stocks is easier to get into and nobody checks I think.
4) Property requires travelling to it and maintenance, which costs fuel, energy and time (again, no guarantee you will sell it for a lot more, since there is no rule that says that real estate only goes up)
5) Additional taxes

Here is what I think might happen if I buy an apartment:
1) I buy it for $40k
2) I renovate it cheaply for $10k
3) I put it on market for $60k (10k profit)...nobody is buying it, because market is full of such apartments and other companies have managed to buy building materials in bulk for great discounts, so they can put those apartments up for $55k
4) Few years goes by, maybe someone buys my apartment for $50k.
5) I barely break even not counting all the sweat

The land is even tougher. Why would anyone buy your land? Unless you are able to build a superb home there, which will cost in hundreds of thousands and requires special knowledge and ability to get really cheap building materials and workpower. How does one who is not into building industry pull this off?

If anything, for long term safe investment index funds seem like the way to go, but again, they require a bigger investment usually, because of commissions/fees and the good ones are not even available to me. I have to do it via banks, which take their commissions for holding money.

Stock trading in general requires more money. About 30k to get started. For forex 5-10k should be fine. Besides, I've met a person who is a full time forex trader and he told me he will help me learn the ropes. As long as he isn't promoting any shit or making me join affiliate programs, I'm down with it. Either way, literally making money by trading currencies is not the worst of life skills to sink your time into. Better than poker or minecraft.

Thoughts?

Lol at all the idiots thinking about " trading some forex on the side". If you manage to consistently avoid losing money you are in the top 5%. Then you spend all this time trading just to make an average yoy return of say 10% on your pathetic five digit bank roll. And that is until you have a bad year and give all your profits back.

Have you actually done it yourself or you just base this one "things you've heard" online. I understand skepticism and cynicism, but if you haven't done it yourself, why do you automatically dismiss it? Yes, most people lose money. Most people are also emotional idiots and try to do this immediately fully time. Do you realize I can demo trade for a year and start using a bit of real money only once the demos are profitable? You did not realize that is a possibility? And if you are a sane, rationally thinking person, why the hell would you not be successful if you can demo trade well? If I suck at demo's, I will not be touching the real thing with a 10 foot stick.

I want to learn a new skill and find new streams of income. I don't see how Forex is the worst choice, unless you can offer me better ideas.

AnalAbscess wrote:
mustang19 wrote:
That sounds a lot more sketchy. I'm sure you'll lose all your money. But if you want to be somewhat sane then invest in developing countries whose currencies will slowly appreciate over time relative to the dollar.

Real estate is a far better investment than any online stuff.

Why do you think real estate is better? I considered it before, but here are the problems I ran into:
1) Most cheap properties are absolute shit and will cost a fortune to flooks discriminationaintain - how the hell will I profit from it?
2) The expensive ones require lots of investment and there is still no guarantee I will make a profit. Simple buy low, sell high does not work anymore. The bulletin boards are full of rental properties and general renovated apartments for sale. What is my edge here exactly? Where am I making the money?
3) I still have to somehow bypass the IRS with a huge purchase like that, but Forex/Stocks is easier to get into and nobody checks I think.
4) Property requires travelling to it and maintenance, which costs fuel, energy and time (again, no guarantee you will sell it for a lot more, since there is no rule that says that real estate only goes up)
5) Additional taxes



Yes. But like I said, real estate is far better than anything else because will never stop needing houses.

Most of the dirty work can be contracted out.

http://realestateinyourtwenties.com/blog/262/

mustang19 wrote:
AnalAbscess wrote:Why do you think real estate is better? I considered it before, but here are the problems I ran into:
1) Most cheap properties are absolute shit and will cost a fortune to flooks discriminationaintain - how the hell will I profit from it?
2) The expensive ones require lots of investment and there is still no guarantee I will make a profit. Simple buy low, sell high does not work anymore. The bulletin boards are full of rental properties and general renovated apartments for sale. What is my edge here exactly? Where am I making the money?
3) I still have to somehow bypass the IRS with a huge purchase like that, but Forex/Stocks is easier to get into and nobody checks I think.
4) Property requires travelling to it and maintenance, which costs fuel, energy and time (again, no guarantee you will sell it for a lot more, since there is no rule that says that real estate only goes up)
5) Additional taxes



Yes. But like I said, real estate is far better than anything else because will never stop needing houses.

Most of the dirty work can be contracted out.

http://realestateinyourtwenties.com/blog/262/

WTF? Where is that info coming from? In my region there are plenty of spare apartments for sale that end up being empty. Plenty of projects went bust. Population is reducing. People aren't rich, prices are increasing, but salaries are increasing more slowly. These people can barely afford an apartment, why the hell would they need a house? It's a luxury for those that already own an apartment. Have you succeeded with real estate investments? What are you basing your claims on? There is no rule that says people will never stop needing houses. People die and inherit their patents homes you know. People don't live forever. Maybe in Japan and India they will need, but not where I live.

Find someone who has already succeeded and learn from him. Avoid scammers and agents. Forums are most useful.

Demgainz wrote:Find someone who has already succeeded and learn from him. Avoid scammers and agents. Forums are most useful.

That's exactly what I'm trying to do now with Forex. Forums can be ok, but they are full of shit. Just like shitty advice. 99% of shit and BS info. 1% legit.

AnalAbscess wrote:
mustang19 wrote:
That sounds a lot more sketchy. I'm sure you'll lose all your money. But if you want to be somewhat sane then invest in developing countries whose currencies will slowly appreciate over time relative to the dollar.

Real estate is a far better investment than any online stuff.

Why do you think real estate is better? I considered it before, but here are the problems I ran into:
1) Most cheap properties are absolute shit and will cost a fortune to flooks discriminationaintain - how the hell will I profit from it?
2) The expensive ones require lots of investment and there is still no guarantee I will make a profit. Simple buy low, sell high does not work anymore. The bulletin boards are full of rental properties and general renovated apartments for sale. What is my edge here exactly? Where am I making the money?
3) I still have to somehow bypass the IRS with a huge purchase like that, but Forex/Stocks is easier to get into and nobody checks I think.
4) Property requires travelling to it and maintenance, which costs fuel, energy and time (again, no guarantee you will sell it for a lot more, since there is no rule that says that real estate only goes up)
5) Additional taxes

Here is what I think might happen if I buy an apartment:
1) I buy it for $40k
2) I renovate it cheaply for $10k
3) I put it on market for $60k (10k profit)...nobody is buying it, because market is full of such apartments and other companies have managed to buy building materials in bulk for great discounts, so they can put those apartments up for $55k
4) Few years goes by, maybe someone buys my apartment for $50k.
5) I barely break even not counting all the sweat

The land is even tougher. Why would anyone buy your land? Unless you are able to build a superb home there, which will cost in hundreds of thousands and requires special knowledge and ability to get really cheap building materials and workpower. How does one who is not into building industry pull this off?

If anything, for long term safe investment index funds seem like the way to go, but again, they require a bigger investment usually, because of commissions/fees and the good ones are not even available to me. I have to do it via banks, which take their commissions for holding money.

Stock trading in general requires more money. About 30k to get started. For forex 5-10k should be fine. Besides, I've met a person who is a full time forex trader and he told me he will help me learn the ropes. As long as he isn't promoting any shit or making me join affiliate programs, I'm down with it. Either way, literally making money by trading currencies is not the worst of life skills to sink your time into. Better than poker or minecraft.

Thoughts?

Lol at all the idiots thinking about " trading some forex on the side". If you manage to consistently avoid losing money you are in the top 5%. Then you spend all this time trading just to make an average yoy return of say 10% on your pathetic five digit bank roll. And that is until you have a bad year and give all your profits back.

Have you actually done it yourself or you just base this one "things you've heard" online. I understand skepticism and cynicism, but if you haven't done it yourself, why do you automatically dismiss it? Yes, most people lose money. Most people are also emotional idiots and try to do this immediately fully time. Do you realize I can demo trade for a year and start using a bit of real money only once the demos are profitable? You did not realize that is a possibility? And if you are a sane, rationally thinking person, why the hell would you not be successful if you can demo trade well? If I suck at demo's, I will not be touching the real thing with a 10 foot stick.

I want to learn a new skill and find new streams of income. I don't see how Forex is the worst choice, unless you can offer me better ideas.


I'm sorry if my post was negative but I believe it's the truth for most guys who aspire to become traders.

Yes I actually based my whole future on becoming a successful trader back in 2006. I never really started trading though and it's still something I think about from time to time. My library is filled with all the trading books I read lol and I spent countless hours on forums and watching webinars etc. I believe I have the knowledge to trade profitable but patience and discipline is everything and as long as I work I wont have the energy to commit.

I recommend reading this thread from the start on forexfactory about trading using price only:http://www.forexfactory.com/showthread.php?t=2331
This site used to be great but nowadays its just filled with scammers and idiots so don't bother with anything else lol.

Yes I actually based my whole future on becoming a successful trader back in 2006. I never really started trading though and it's still something I think about from time to time.

How can you speak about it so confidently if you didn't even try actually doing it?

I've been doing forex now for just over a year since I was fired from my job by the lookist and heightist manager I had.

Swore to myself I won't work for some human piece of crap anymore who treats me like I'm a dog due to my extremely low facial, build, and height values.

It can be profitable, but you need a good amount of money already in the bank to make it work well, so that you can make a decent full time living from it.

Last night I managed to net myself almost $400 from a falling Euro dollar :lol:

It takes a while to learn, and is not as easy as it seems. But if you can master it, you'll never have to put up with workforce political lookist bullshit anymore. At least that's my goal :lol:
5'6" manlet
thin framecel
unable to put on muscle or bulk up
baldcel
ethnic-looking
small recessed chin
no defined jawline
"boxhead"
lower + middle facial thirds combined = size of upper facial third
baldness-inflicted uneven facial thirds
short-sighted
overgrown body hair
41 years old
net worth < $100.000.00
Socially outcasted my entire life

BrickTamland wrote:Ive done it and made money. Im still doing it and can already live off it.

Please, we need details. What is your method? How did you learn? Are you doing Forex? For how long?

short bald ugly, guy, do you manage to do it full time and survive? What methods do you use, where did you learn?

Go online try babypips.com and learn about all the technical and fundamentals.

Open a demo account with an online platform and prove that yourself that you can make money from it.

Then open a live account if you have at least $5000.00 of money and start off by trading small lots at a time.

When you start being profitable with small size trades, and you are sure your method wins you more trades than loses, up your trading lot size, but never trade more than about 2% of your full account size.

short bald ugly wrote:Go online try babypips.com and learn about all the technical and fundamentals.

Open a demo account with an online platform and prove that yourself that you can make money from it.

Then open a live account if you have at least $5000.00 of money and start off by trading small lots at a time.

When you start being profitable with small size trades, and you are sure your method wins you more trades than loses, up your trading lot size, but never trade more than about 2% of your full account size.

Actually, that is great advise and very similar to what the other person gave me. Very close. Since you both claim you are making money off it, I am starting to believe it is doable if you are disciplined enough.

Don't bother with forex. Do you really think a basementcel has a chance of beating the top multi-million dollar execs on wal-street? Redpill: if you try forex, you're going to lose money.

AnalAbscess wrote:
short bald ugly wrote:Go online try babypips.com and learn about all the technical and fundamentals.

Open a demo account with an online platform and prove that yourself that you can make money from it.

Then open a live account if you have at least $5000.00 of money and start off by trading small lots at a time.

When you start being profitable with small size trades, and you are sure your method wins you more trades than loses, up your trading lot size, but never trade more than about 2% of your full account size.

Actually, that is great advise and very similar to what the other person gave me. Very close. Since you both claim you are making money off it, I am starting to believe it is doable if you are disciplined enough.


I guess i could write up a detailed summary of how im personally doing it. When i get a chance ill post it under my own thread. Goodluck bro and were all gonna make it. Investment is paying for my surgeries
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