A self interview of sorts

Good morning people. I will be exploring my business using the most common questions I have come across. A few villagers have expressed their interest in becoming FX traders from time to time. My posts will shine a light on some dark corners. Please be advised that I do not offer mentoring and tutorship classes as of the time of this writing neither should the writing be interpreted as such.

Also add your question(s) concerning this strange business otherwise know as Commodities and Forex Trading. See you in the following posts.

how much were you worth at the beginning and now? no specifics if you don’t wanna gloat

I have managed to grow my capital X 20 only. My stats are measly compared to most guys in my circle.

20x in how I long?

As an experienced FX trader, what are the common mistakes/errors you think a beginner is bound to make in this business?
What is your advice on how to avoid such mistakes?

How much did you start with?

Three years.

Focusing too much on $$$$$$ instead of skills and using too little capital. Greed, Fear and Lack of skills.
Recommendation: Have an attitude of wanting to learn.

Happens to be one of the questions I intend to elaborate with coming threads. You will get an explained answer that way.

Here is the maiden thread.


What amount of capital do you consider to be appropriate to start with?

This will be answered in the fourth thread.
However, to give you the gist: your skill level and stats during practice trading will give you a roughly accurate figure. The rest will be multiplying/dividing by 10 depending on what you can afford. It is not a fixed number.

Are u full time trader and what is your strategy that ensures you are able to deal with losses?

It will depend on how you perceive full time - I will elaborate in the threads that will follow. On losses, I have a strategy that brings in more than it can give out. R : 2R/3R up to 5R.

I get this elaborate on the threads that follow quite much… what’s ur problem u told people to ask now u tell them ul answer later… acha umeffi

Hey you dim eyed stone thrower! Take your entitlement to those of your kind. I have questions I frequently encounter and I am adding content. If you feel empty, I am not what you are seeking.

Fala. @anyango anauliza swali poa na wewe unaanza kutupea parts.

What is the best EA time to trade , online forex? Usiku au mshana?

The bottomline. You cannot do this part time and expect to make a killing.

You’re better off getting a broker in that case. Just as in any other field/career/pursuit, you have to be totally dedicated, have a passion for it, even that does not guarantee success. However it will enable one to learn, master and avoid the pitfalls.

This guy might be a good forex trader, who knows? BUT, there are lots of ‘Forex traders’ out here who promise ridiculous returns if you ‘invest’ with them, please! please! If you want to invest with them, fine! But you might as well wipe your ass with those elephants and flush them down the toilet because that’s what’s going to happen with your money.

:meffi: :meffi:

My trading time is London open, 10:00 am to 6:00 pm. This has everything to do with the currencies I specialize in. A fellow trading Japanese Yen or Australian dollar will have to start 2:00 am and close by 11:00 am thereabout.

You are correct and coincidentally my next thread is talking about that; realistic targets. Also, I am only answering questions and shading light. Not seeking investors otherwise it won’t be an interview, will it?