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I am getting 10% daily return on my Forex Demo account. Need Advice.
Like the title says, I am doing crazy good on my Forex demo account. I want to know is this sort of thing common and will it all completely change when I make a live account. For some background I have been only studying Forex for about 2 weeks but during those 2 weeks I have not stopped learning. I came across a strategy that is now making me 10% returns per day and I'm fairly sure I could make that number higher with more practice. Any advice with this would be much appreciated.
i’m here just looking for advice on forex strategies that work for scalping(preferred) and day trading. I’ve been demo trading and trading live with small lot sizes ,for the psychological effects, for about 4 months now. However i’ve been struggling and the strategies that i’ve created for myself aren’t making me consistently profitable which is frustrating. Any advice on strategies would be appreciated.
Unathi Kwaza RT from Wendy Knowler: FCSA warning re scam forex trader “Michael Curter”; he of the Facebook ads. “Always check that a person is registered with the FSCA..and for what category of advice. Some are registered to advise on a low risk product but offer services of a far more complex a...
If I have a few requests from my well-to-do friends and relatives to help them trade forex as another source of income, how do I set up such a system where it's legally transparent and agreeable for both parties? These people have known me for many years and acknowledge my passion, technical skill, and background in trading equities and forex over the past 8 years. They have repeatedly asked me to trade for them over the years but I'd been holding off because I want to convince myself that my results are now consistently positive enough. Assume that: - I can prove my consistent profits on paper (i.e. displaying my broker's live account records). - I personally know these people and they believe they can trust me with some of their disposable money. But I also want to make sure they realise that there will be drawdowns at times or no profit at all. - I don't want to trade for strangers on the Internet. - They have no interest/time to learn how to trade forex so it's attractive to have another trusted person to do so. I'm thinking of not charging them anything until they see consistent profits after XX months/weeks. Do I mix their funds in my own broker account or using a totally separate one? I use only Daily TF and obviously hold for weeks/months sometimes. I average much lower than 10% per annum but have reached close to 13% in some months. I'm nowhere close to actually going with such plans. I'm not sure whether it's a good or bad idea but I think it's worth thinking about. Google results usually link to forex prop firms. So I do appreciate some perspective. Thanks all. Merry Christmas. EDIT: I've thought about applying to a forex prop firm but I'm still leery of those. Plus, their requirement that you can't hold your positions over the weekend just turns me off. EDIT2: Thanks for all the replies! Lots to think about...
Could someone give me an advice? I want to buy a powerful processor for my computer. The main task is professional programs like trending on Forex. Not for the games. I am looking for I9-9900K and Amd Ryzen 3900x. Which of them is better for professionals?
I've looked some tests on Youtube, it shows that Amd is better for multitasks than intel. I dont play videogames so I don't need processor which is better in games And also I need a proc which will cope with multi tasks Thanks in advance
There are many firms that give trading advice on forex, the stock market etc. By scam I mean that would it be better to just put it in an index fund? If so, then aren't they scamming people because their technical analysis is all bullshit?
Just started using forex.com and put a small balance on to try it out. Any advice or pitfalls?
I’ve been trading stocks, options and ETFs for about 4 years and wanted something to do in the evenings and figured knowing more about currencies and their trends would help my overall trading. Besides spreads are there any leverage issues I’ll run into? I understand I will lose my principal at a certain loss without a stop. Also is there a good central discussion or news site for currency? I’m also trading some commodities like coffee and precious metals and would like a good resource for information of futures. Thanks for the help!
Im 17 years old and am interested in trading Forex. Is it like most things as in the younger you start the better off you’ll be in the long run or should I wait until I’m a bit older? I have a drive to become successful and I feel this has the potential of fulfilling that drive. I’m obviously not like most kids my age who are running around saying everything is “lit.” If I could get some of your guys’ input it would be greatly appreciated.
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