Forex is a very risky trade. I have 4 years experience trading, but making losses is part of the game. Last week i lost about 50k on the trades, when i went long only for the pairs to experience a reverse in the trends. There is a time i made 22k in less than 10 minutes, i once made 11k in about 5 minutes, i lost 25k in another week, made 36k in two days sometime back. Its very risky, tricky and not predicatble. No one can tell you that he makes profits all the time.
I am a full time Forex trader. I have been trading for 5 years now. The first year was full of losses. But I dedicated myself to learning as I hate employment with a passion. I bought all the books I could on amazon and did all the reading I could. Worked out strategies and emotional training until I could loose 3 trades out of 10. Then I shut down my furniture business and other businesses to focus on day trading. Then when things started looking better… Everyone wanted to join…
Problem is people don’t wanna figure it out. They believe there are people who know the ins and outs and can teach them everything. They said am mean and don’t wanna teach them, especially the female folks who used to see me as small fish. Now I combine strategies and I have bots that see my kinda setups and notify me. The trade is mine to make, the bots don’t make calls. They just do my monitoring.
Am more of a seller than buyer and truth be told, I can’t even share my strategies as I tried with my bro and realized what works for me is mine… Strategies and setups are not only mathematical or indicator based but sometimes have a lot of emotions and guts invested.
So… Forex like any other earning… Pays if you commit to it. The learning curve is steep and loses are an everyday thing. The loses part is where people give up. They make 10k now loose 8k and they give up. You have to constantly loose and make records as to what made you loose and slowly you start to see the patterns in your mind and your gutts tell you what to do and the indicators and bots support what you feel and you make a play. That’s how it goes.
Guys ask me to train and I say its not worth it unless they are paying more than am making. But if I walk down that path… I will be teaching and not trading and then end up having a following of people paying to learn, going in and a huge percentage loosing money.
Last advice. Forex trading is like seeking salvation… No one can be saved on your behalf. Its a journey you commit and decide and walk alone. Then only you loose learn and block the leakages then earn.
I think I should meet u tukae chini unifunze hii maneno.
Kuna siku nimelilia kwa choo pale etoro nilinyoroshwa 5k in less than 40 minutes.
Nilikunja mkia pole pole. Na kugura.
They call me na simu zao sishiki.
Which broker(s) and platform(s)-MT4, MT5, cTrader etc, would you recommend? I will highly appreciate if you won’t mind giving reasons for your choice/s
I have traded crypto for a few months now during my free time. The same concepts apply to forex. There is no substitute for experience. You will come to learn your own truths, and a lot about yourself in the process. Trading hardens someone emotionally, and you become indifferent.