How To Turn 8K into $49.00 dollars in 4weeks!
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thread: How To Turn 8K into $49.00 dollars in 4weeks!

  1. #1
    Junior Member juanmigwlan's Avatar
    5

    How To Turn 8K into $49.00 dollars in 4weeks!

    This is the way I discovered Forex.
    I offered my company many years back and retired. My spouse, it turned out, wasn't interested in retirement. She continues to work. It was not bad in the summertime, I sailed into my hearts content and went scuba diving. Then winter came. It snows a lot where I live, and I HATE the snow. So I found myself
    Home Alone M-F with nothing to do. I began surfing the net. I think I almost finished the internet, I had been down to websites that told you how you can have fake ID, build your meth lab, create bombs . I found an article on forex, with a link that brought me to fxcm. This looks pretty cool, I thought to myself. I started an acct and sent 8K off.
    I will never forget my first trade. I went on the EUR/USD,
    Why? ( at this point I had heard of charts but hadn't actually seen one) ,
    Well the last time that I moved to Europe, it cost me a lot to exchange my Dollars for Euro's. So the Euro must have something going for this. I lost about $1500. On that trade.I was able to trade like this for approximately 4 months. A number of you probably think I'm joking, I'am not. This really happened.

    We all hear the stories, the experienced/successful traders have lost an acct. Its a rite of passage. We inform the noobs, do not make. It does not sink . As a noob, I discovered what I wished to listen to, I saw what I wished to see.

  2. #2
    Junior Member angelzarco's Avatar
    27
    Blown around 5 demo accounts and then the last one I have been in a position to make some money.
    I am glad you wrote this. A lot of individuals believe demo accounts are a waste of time: too easy and doesn't test your subject. I will blow a demo account with a few hours of fun. Takes. Why test that when you do not have a system In terms of discipline? When you're prepared, then start a account and operate on your discipline.

  3. #3
    Junior Member mburgtt.x's Avatar
    1
    Cut your Lots to at least Mini Right Now IF that subsides by Any Factor, Cut Your Lots to Micro Immediately Thereafter.
    You have maybe been inordinately lucky; OR: the Grail is Yours.
    You Decide.
    Thank you for the constant reminder. Seems all of us must be reminded every 5 minutes about equity management. It is so tempting to leverage.

    Since I have just been doing miniature 10k lots I have been making money and my losses are much smaller.

  4. #4
    Junior Member juanmigwlan's Avatar
    5
    I had been in a trading area today. I go there to pass the time, waiting for a trade to shut. I go there for entertainment value. People are yelling at each other Long! Long! Short or long! Short! Short! Its attained the Fibo! , It crossed the Gann, etc etc..
    Well, a trade had been called, and was stopped out in about 20 minutes.
    Everyone was advised not to risk more than 1 percent.
    Some fellow some piped in with I dropped 7K on this commerce
    Another chimed wow! Nice acct you have if 7K = 1 percent of your acct.
    The first fellow replied No! 7K was 60 percent of my acct, its 1 percent of my total assets!


    I must be really lame! Way too conservative! I risk.5percent on a transaction, occasionally 1 percent, once in a blue moon 2 percent. I guess I move from 1K to 100K in a month, or won't ever double my acct in 1 week.
    BUT! I've been performing 8-10 for months now.

    Individuals are drawn to Forex for the Get Rich Quick appeal.
    I know noobies don't want to hear that, but Slow and Steady wins the race.

  5. #5
    Junior Member morrisok99's Avatar
    2
    Newbie here. That get rich quick appeal sure is tempting, particularly after viewing the demo go form $50k to $120k within one hour and finding the sweet spots on a chart in which I can say if I bought here and sold there, I would recognize a 3000% profit!

    I started live trading yesterday with a couple days worth of training. It had been fractions of mini lots but it did not take long before I had been doubling my order size after every reduction whilst suffering losses simultaneously. What emotion.

    I did find the holy grail, nevertheless. When I buy, exchanges fall. When my long positions struck a halt, they climb again. It is like magic.

    Eventually I opened my final position of this day, placing my margin level at 125%. I specify a stop that would have left my own account down 10% from its opening worth and went to bed. I would live with the reduction, it is a small account.

    Woke up after dreaming that my equity reached $0 somehow and discovered my account about 10% over the equilibrium I opened it with. What luck.

    My egy now is to treat this 10% like it is 100 percent of the account and risk no more than 2 percent of the account at one time. I may still wind up losing money whilst learning than make a massive amount of money, but I'd rather lose a small number of genuine money.

    When I blow off the account, I will post another reply.



    Forexwindo

  6. #6
    Junior Member angelzarco's Avatar
    27
    Newbie here. That get rich quick appeal sure is tempting, especially after seeing the demonion go form $50k to $120k within an hour and finding the sweet spots on a chart where I could say if I bought here and sold there, I would realize a 3000% profit!

    I started live trading yesterday using a couple days worth of practice. It was fractions of miniature lots but it did not take long before I was doubling my order dimensions after every loss whilst suffering multiple losses. What emotion.

    I did loe the holy grail, however. When I buy, exchanges drop. When my long positions hit a stop, they climb again. It's like magic.
    1) The issue with demo accounts is that people usually do not use cash management; it is not real money, it's just bit of fun so that you may take big risks. You may double an account if you get lucky. In a way, I'm lucky with demo accounts: I will easily drain a demo account... that shows how hard trading really is. I buggered around on Oanda. Had $110k. A couple of over-eager transactions and account down to $103k. Hmph.

    Two ) Doubling your order dimensions after every loss (or Martingale money management) isn't a poor money management egy... if you have a $500 billion dollar account.

    3) That suggests you're entering too early, being too aggressive. Someone once told me that newbies could be right.

  7. #7
    Junior Member Puntazo32's Avatar
    1
    I was running demos for 3 weeks and done ok, I was pressurised by a sales rep to open up a live account, this is now running in a fair reduction, I understand what the main issue is, I get the direction of the market right the majority of the time, its just when the price goes against me I pull on the plug to early and have a reduction, then see as the trade goes back in my favour, because its money I'm setting my stop losses to tight this is eating off my account, and the longer I loose the tighter I seem to be placing my stops. Plogically I am attempting to keep any losses to a minimum but this is working .
    Its all a leaning curve, and it is just one more problem I will have to get my head around, I also have chassed the price down and up, and pitched my lot size to return the losses and lost,there is a difference between trading demos and a live account.
    I feel every newbie like myself ought to open a micro or a mini account, and trade from the beginning to have an actual feel of all the emotions,, It truly makes you have a step backward and you say to yourself I wont do this again. If the cash is coming out of your wallet and learning the hard way is I feel the way ahead, you don't forget your mistakes.

  8. #8
    Junior Member jttercules's Avatar
    1
    Thank you for the eye opener thread. .

    I like the video so much. . I laughed so loud until my spouse and sons awake to know if im OK!!

    I believe at least 80 percent of traders like that..including me occasionally. .

    Only the 20%is laughing..the bigboys. .

    pid

  9. #9
    Junior Member aoxpkre16's Avatar
    1
    Post like these will keep demonion trading of wiping out my account.

  10. #10
    Post like those will keep demonion trading for years out of fear of wiping my account.
    Posts like these are I suppose meant to invite You to Trade Live Money with MM as a part of your overall System

    Until you expeirence $ leaving your wallet, you will not know this

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