i hear alot about forex and binary option trading, and am new to it. I want to find out if there is a ktalker here who does either forex or binary, ni gani poa between the two ? and if they are making money from it , and how one can start … any feedback is appreciated.
First thing you should know is that professional traders (irrespective of discipline) make realistic returns.
I’m talking of something like 10% - 15% on their principal per annum.
These wannable forex traders who promise to double the money in a day all, without exception, all end up losing everything. There is no difference between what they do and sportpesa.
Now, if you are seeking to go pro, to make something like 10% per year, it goes without saying that you need a lot of initial capital for this to make sense.
And a lot of patience to learn.
One word. DON’T. In trading, only the exchange wins. Speculate or invest, but don’t trade and use as little leverage as possible if any. The more frequently you trade, the faster you lose your money. Only those who hold positions for long periods (minimal trading) and use as little leverage as possible (2X max) win in the long run. That’s why exchanges LOVE day traders and swing traders because they lose all their $$ to the exchange in commissions as they try forcing unrealistic returns by over leveraging. The smartest move is not to start trading.
You have misadvised this guy. If you know what you are doing, there is no chance of losing all your money coz of what you are referring as leverage. It is important to note that the greatest killer is greed and fear. My guy is very greedy, but still doesn’t lose it. He may risk all his cash, say 100k acc but he is patient to allow the cash to double, triple or lose it all. Right now, his acc is $30,000 +. This is the way he does it
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I have seen him blow multiple accs but I have seen him earn A LOT. I am not saying that he should do like what my guy does, because it’s extremely dangerous but making realistic target is possible.
What do you mean by realistic targets
To some, realistic will mean 15-30% of the capital while to others it will just be 1%. If ou got $1000 while another got $10000, the targets may not be the same.
Taking this is annual not daily right
Nope, monthly.
Just don’t. I would never advise anyone not to try a business, but trading is a rigged game and the only way to win is holding positions for a long time and using little leverage if any. Trust me, for every success story you read there are 99 horror stories. Do you really believe you are in that 1%?
Ayee sasa philospher waa single mother why are you against it hivo …yes theree are losses kama uko greedy na u want to get rich quickly ama aje jangili @othello i believe you can earn pia if you are disciplined
I have never traded forex professionally. Nilijaribu nikaona ni ufala. I traded crypto and my conclusion was as above. You must minimize activity, hold positions for long and minimize leverage to make any money. Any other strategy amounts to greed and you will lose it all to the exchange in comissions and fees.
Kwani wewe waona ipi ni easy? To have expiring trade, au ile wa hang na negatives whole week kabla ya kuona blue?