Active traders Poll

hi,
i am a 3 months old trader. i started with 2000$ without experience. within one week i was at 5000$. that's when hell broke loose. i lost consistently because i was not give fx as much attention as in the beginning. my account was at 200$ two weeks ago. i funded 1000$ but it was over in one week. i was scared but never give up is still my motto. i funded another 1000$ last week and by Friday i had 700$ in losses. now my portfolio is 1400$ but the losses are 747$. am very optimistic that this site will be a solution to my problem. am working on my money mngt skills,auto trading knowledge and emotions. remember that i quit from my work place so that i cud trade full time.am reading every part of this website and preparing to use indicators found here. most successful people(Edison, trump, cornagie) did not fail so will i. i would very appreciate comments and critics from other traders. thanks for your time. [email protected]

regards
edwin

kenya

Hi All,

I used to be a full-time Investment Bank Technical Analyst working for firms like Merrill Lynch, Bear Stearns, as well as a multi-billion dollar investment fund. The late Robert Krausz of Jack Schwager's "New Market Wizards" book was a friend and mentor of mine in Trading.

In my opinion, a key component to any trading system is to construct something that YOU are totally comfortable with trading, since trading psychology and how much you actually trust the system you are trading, has an enormous role in your success as a trader.

This is actually the problem with too many of the trading systems on sale out there, EVEN IF they really DO work for the people who created them. Yes, THEY may be happy trading that system even through the tough times of drawdown, but the question is, will YOU be?...

Hence, you either invest in a proven trading system and backtest it intensively with historical data to ensure that it is valid and profitable, or else you create it yourself (in many ways, the preferred option since it is then most likely to be in tune with your own trading inclinations.

Regards,

Asoka Selvarajah

Hi Friends,
This will be a very long and tiresome message, but it is something I HAVE
to share with you. I am going to share an almost UNBELIEVABLE story of how
this website and the kind and polite members of it have transferred my life
completely. For the better.
I bet already you expect a story of how the strategies listed on this
website helped me to make so much money. That they worked for me so well
and to keep up the good work. Wrong, although that too!  .
I am a 17 year old high school student.
I am a money fanatic. Yes I love business and finance and everything else
you can expect from an ambitious high schooler. It doesn’t make me stand
out at all, trust me. But apart from that, for some reason since birth I
had a strong attachment to hard work and reward. Whether it was my own or
someone else’s. For a long time I admired my dad’s story of moving from
India to the US and his rise to success. At the time his success felt like
a million dollars, but soon I realized it was only a couple thousand. And
right now he’s in a lot of financial struggle. Not because of the
economic meltdown or the credit crisis. But because his lease on his hotel
is up and the regular cash flow is over. He has to find something else
desperately.
He has had two business startup failures in the last two years. I am
crushed, but I can’t even imagine what he’s going through.
Ive been learning and have done a couple of website projects since the 6th
grade. But I haven’t made a single dime from it. When I was 16 I realized
that I never had a job and I needed to make money somehow.
Up until 6-9 months ago, I am shamefully admitting I was scamming people
for money. They were elaborate and well paying scams. I regret doing such
actions.
But I felt like I was sitting on something that was getting me nowhere. I
mean I cant possibly do this for the rest of my life.
I had to find something!
So I chose equities trading. (At that time I didn’t know all the
professional terms such as “equities trading”, I only knew “stock
market”, “buy”, “sell”, and “PROFIT!”) 
But I soon realized that a 10% profit of your total portfolio per day is
literally IMPOSSIBLE for a high schooler to pull off! Especially in the
equities market.
Then I stumbled onto forex!
I opened a practice account and on the first day (with a paper portfolio of
10,000), I went to a balance of about $50. I was wiped. LOL! But what I
realized is that I made about 10-15 trades (each trade includes buy and
sell) and I realized that if I could easily lose $750-$1000 per trade, I
could also make $750-$1000 per trade if I actually knew what I was doing.
I bet you already know whats going to happen now, I found this website and
I made a million dollars! WAHOOOOOO!! NOPE! SIKE!
But yes I actually did find this website. I took nine months studying
everything about forex. As much as I can. Every basic thing to the most
advanced strategies. I got a C in algebra because I would be reading
printed pages from this website instead of learning Pre-Calc.
Ok so now I know my stuff, but I don’t have an account. (Did I mention I
am a VERY quick learner and mostly like to learn what I like to learn
instead of formal education) Ok, so I go back to practicing right? Yup!
I can proudly say I go 30 days without a single negative and make about
25,000 In paper money. But this isn’t enough to be rich. I NEED A REAL
ACCOUNT!!!!
And my dad doesn’t even know about my year long learning of Forex. That I
sacrificed so many things throughout the year to learn forex. In school,
personal life, and professional life?, no not yet professional. But still!
I WORKED my ass off! So I made a bet with him. If I can go 15 days without
a single loss and $15k profit in paper, I get a real account!
So I went 15 days without a single loss and made 35k!!!! NOT!!!!!!!!!
In reality I actually made at least 1 negative each day and only about a 4k
profit! 
But my dad saw that I had over 10 positives per day (average?), even though
each profit was small.
I finally got an investor! Funding! An OPPORTUNITY!!!!!
And today….
Today…
Im the only student in my high school who trades forex as their part time
job. 24-hours trading allows me to trade after school for a few hours. And
this is going on the COLLEGE ESSAY!!!!
I am making so much money thanks to the strategies I learned and learning
new things along the way.
Since then my dads headaches and worries have also gone away because Im
adding a significant amount to my college fund every month!
I cannot even explain how much more in detail this website has changed my
LIFESTYLE!
I am getting noticed, learning new things, and now I know my career path. I
even have an internship with and HSBC forex trader in nyc! During this
summer atleast!
I would like to thank everyone who has ever participated in this website
and may GOD BLESS THEM ALL!!!
And that’s it!
The end

HAPPY TRADING!!!!

Been trading for 12 years..2 full time.

Find SIMPLE strategy that suits you, and stick with it until it becomes boring.
Having the patience to stay out of the market until you see YOUR setup is the key.

Paul.
UK

I can learn swimming by getting in REAL water only, the fun of learning is different and I have become a professional trader. I work on it like my life depend on it. I get the real kick when I see my profit/loss is moving up/down. That the fun.

Rupesh
India

This is a great site. MUCH food for thought. Kudos to Edward Revy and all the contributors. I made money on my demo account with no problem. Probably because I didn't care. After all, it wasn't real money. As soon as I started trading for real money I became anxious. It was a whole different situation. Fortunately I have a micro account and I am learning first hand all of the classic mistakes not to be made yet it is not costing me very much money. The lessons seem to sink in better when real money is at stake-no matter how small it is- than with a demo account of "play" money. If I ever get consistant results in my micro account I will scale up to larger sums. I would recommend a micro account for anybody who wants to learn how human emotions affect your (and everybody else's) trading.
Forex is like the world's greatest puzzle. It exercises your brain completely. In my opinion it is the most fun you can have with your pants on.

Best of luck to all!

thenx guys for sharing your experiences the bottom line is if u dont give up in forex u will be making consistent pips some day did somebody say keeping a journal?its really helpful u learn ur mistakes

njoki

shahid I am i same shoes like your trading with1 microlot with tolerable losses since 1 year wish to share your trading method as mine is not that good and like to change it
kalid

I have been doing it with practice and real account for the last 8 months now. To be honest, i have, like many others blown up my first real account and again after that. Then i reverted back to practice account. Although i had twice doubled my demo account and i had success with demo accounts, but i found it totally different with real account. I is a different world. Now i practice live with only 1 micro lot and test my system live with very little losses. I prefer doing it live with real accout and 1 micro lot. I am quite comfortably doing it within $100.
The most important thing is now i am all the time working on my only one trading strategy and i keep reading and practicing it strictly. The most difficult thing till this time has been to be completely disciplined in following my system. I feel things are getting better and better now. I have no intention of leaving it at any cost but rather learn from my mistakes and keep practicing. I have very modest goal for my daily forex trading, 20 pips per day. I will continue to learn live till i have perfected my only trading system amd then continue with it to acheive my daily goal of 20 pips. Good luck to all.
Shahid

after two years of trading and trying out diffrent system i concluded that technical analyse is not profitabale! it is only a matter of luck!

Dopo tante sconfitte,solo l'esperienza ti insegna a perdere poco,non esiste alcun sistema,ne disciplina ma solo la perseveranza.
Non ascoltare mai consigli e suggerimenti da altri,operare con il proprio istinto,gestire bene il proprio capitale,non dare credito assoluto ai vari indicatori.
Buona fortuna a tutti.

----------------------------

After many defeats, only experience teaches you to lose little, there is no system, governing only perseverance.
Never listen to advice and suggestions from others, working with their instinct to look after its capital, not to give absolute credit to the various indicators.
Good luck to all.

I have been a profitable trader for over 10 years. It took me almost 5 years of learning to get to the point of becoming consistently profitable. If there's anything I can add to the conversation here it's to tell those new to trading to study the wisdom in the above comments regarding learning money management and giving up on the concept of win/loss ratios when it comes to your trades. Like one of the posters above my trading win ratio varies from "only" 35-45% depending upon market conditions, but I'm able to finish my months a winner 83% of the time, and I've been averaging about 100% account increases each year for about 10 years now. "Cut your losers short and let your winners run" is the best thing you can learn about trading!

Also, I would disagree with those who say that trading on demo accounts is "worthless". I traded on demo for almost 2 years while learning. The important thing is to treat your "fake" money like it's real. Don't screw around just because it's not real money... develop your strategy and trade it like you would if the money was real. This will help teach you what to expect when you start trading with real money, even though the feelings of loss will be magnified. Here's what demo trading will do for you... it will help you to learn what may be wrong with your trading system or your own discipline BEFORE you start losing real money. Also, if you can't be profitable over a period of a few months when trading on demo, what makes you think you're going to be able to do it with real money???

Finally, stick with it. Keep learning and studying. No one becomes a profitable trader for the long term without studying for at least a couple of years. If you think this is a "get rich quick scheme" then just go buy yourself something nice with the money you were going to use as your trading capital... because you're going to lose it anyway.

this guy is a well known scammer in malaysia!

the guy with the 17,300 in 4 months, are you still in the game?

Hi srikandifx,

Very impressive results there. May it continue for you. Do you use a particular system for this?