AwesomeDuru:
I need you guys to clarify something for me please, I'm a newbie and I'm in my last stages of study on babypips, but I read something there that has really discouraged me. They said you can never be profitable with $100 capital, that one needs to start with at least $1000. How true is this please, because $100 is all I can muster for startup. Can't I take very low lot positions like $0.01and make my little profits? Will leverage truly weigh me down? Did anyone here start low and is still surviving?

I know I have to demo trade first, I have been doing that now for over 2 months. So just leave the part where I should learn how to trade first

If u can keep the lots that size or that low till u have a good equity, yes u can, just dont try to take pips of .7 or 1 yet even in sure trades cus thats where the problem comes from

athaliya:


If u can keep the lots that size or that low till u have a good equity, yes u can, just dont try to take pips of .7 or 1 yet even in sure trades cus thats where the problem comes from

Hi, thanks so much for your contribution. I see you're a newbie too. Can we connect on WhatsApp?

AwesomeDuru:
Hi, thanks so much for your contribution. I see you're a newbie too. Can we connect on WhatsApp?

I'd rather not cus I reply msgs in like 12-24hrs intervals and I don't like feeling obligated to chat, plus community talk is better. 2019 is for us

Hello guys...please I need advice on which broker I should use between fxtm, fxcm and Hotforex... And is a leverage of 1:500 too much for a $100 startup capital for trading?

athaliya:


I'd rather not cus I reply msgs in like 12-24hrs intervals and I don't like feeling obligated to chat, plus community talk is better. 2019 is for us

Amen Sister. But there's this question I had wanted to ask you. You stated earlier that you started with $150 and you made $415 with it in just 2 weeks, that's more than a 100% ROI. So were you trading with pure luck then? Or was someone giving you signals? What lot sizes did you trade then? On the whole, how would you rate your trading skills as at then? Thanks so much. Sorry the questions are much.

DivinePips123:
Mental stop loss. I have heard stories of stop loss hunting by some brokers. If you check my win rate (which is currently at 78%), there is a 22% loss. They are the trades closed at mental stop loss.

What if a Francageddon haappens?

Drey143:
Hello guys...please I need advice on which broker I should use between fxtm, fxcm and Hotforex... And is a leverage of 1:500 too much for a $100 startup capital for trading?

FXCM spreads are low, deposits would be in skrill.

1:100 is more than okay. Use this calculator attached for Money Management calculation.

update on my oyel trade, i am delaying closure of the trade to see if the 44.25 levels is possible

currentprice:
update on oyel trade. price continues stay below the doted green line is an assurance that price gona fall like a rain soon.

still an opportunity to Sell for trader not yet in the trade

if u did the bolded yesterday, u are above 100 pips up now

That is why it's low risk trading. I use smaĺl lots relative to account size, because of unexpected and huge drawdown. I monitor and manage trades intensily. I make sure there's a large margin available. I also stay off the market when an imminent high impact news is in the offing. I watch financial news, and keep tab of international breaking news as much as I can. Speaking of francageddon, this is a rare occurrence. It's not the norm. I think the last one happened in 2015 (CHF). Some people have said the odds of it happening is once in 5 years or so (I don't know how far that is true). But I guess it tends to affect exotics more. So if I ask: what if earthquake happens in Lagos? Can it happen? Yes...It is a frequent occurrence...resounding No. So because their is a possibility of earthquake happening somewhere, will people not go out to their place of business/work?...Of course they will. Meanwhile, I advice anyone that can not take on a measure of risk to stay off forex trading. Just put your money in fixed deposit and get 5% per annum (year).
But do not expect to be a millionaire from your investment in a short time (which is what forex trading potentially offers).
Even selling 'pure water' in traffic (running in-between vehicles) is risky not to talk of starting an offline business from scratch.
I know a lady that is based in the UK, she doesn't use SL and her results are just amazing. She hits more than 20k in profits per day. She is one of the people that inspires me. I bet she is uber rich from trading.
So I stick to what works for me and keep my goal in focus. One of my favourite quotes is " Everything you ever wanted is on the other side of fear". Entrepreneurial risk is our business.

teemy:

What if a Francageddon haappens?

teemy:

FXCM spreads are low, deposits would be in skrill.

1:100 is more than okay. Use this calculator attached for Money Management calculation.

Thanks I relly appreciate... that calculator is crazyy mahn....on point...thanks once again

Buystop 1260

Stop loss 1258

Target 1270

AwesomeDuru:
Amen Sister. But there's this question I had wanted to ask you. You stated earlier that you started with $150 and you made $415 with it in just 2 weeks, that's more than a 100% ROI. So were you trading with pure luck then? Or was someone giving you signals? What lot sizes did you trade then? On the whole, how would you rate your trading skills as at then? Thanks so much. Sorry the questions are much.

I was 50% trading signals from realtimeforex.com, I was using 0.01-0.35 lot sizes (crazy on a leverage of 1:100), I did intraday trading, short term trades. Imagine doing 20-50lots per day and mostly trading m1-m15 time frames. made 70 - 120% per day (I made losses too on some days). traded 3-4days per week
I didnt know about candles and trailing stops but I drew charts on an a4 paper and read about market sentiments alot from different sites and major world news.
my biggest mistake then was refusing to close trades that went against me as I didnt believe the market could go from 1.1335 to 1.1445 in one day. I got a margin call at $50, it messed up my head, I began making bad trades and the rest of the money went in 2days.

athaliya:


I was 50% trading signals from realtimeforex.com, I was using 0.01-0.35 lot sizes (crazy on a leverage of 1:100), I did intraday trading, short term trades. Imagine doing 20-50lots per day and mostly trading m1-m15 time frames. made 70 - 120% per day (I made losses too on some days). traded 3-4days per week
I didnt know about candles and trailing stops but I drew charts on an a4 paper and read about market sentiments alot from different sites and major world news.
my biggest mistake then was refusing to close trades that went against me as I didnt believe the market could go from 1.1335 to 1.1445 in one day. I got a margin call at $50, it messed up my head, I began making bad trades and the rest of the money went in 2days.

Thanks for taking your time to answer, we'll get there

DivinePips123:

Everything you ever wanted is on the other side of fear". Entrepreneurial risk is our business.

This is the greatest quote i have read this year. Keep it working man.

Absolutely bro. The quote is very deep when you brood over it. It applies to all spheres of life (not only trading). For instance, we keep complaining about leaders/politicians but the fact remains that those people conquered fear and took some risks to get to where they are now (exalted positions that other risk averse people can't attain). If you ask some people now to get on a podium, give him or her a Mic to address 500,000 people (to give an impromptu speech), the person may develop stage freight and prefer to shy away (remain in comfort zone), yet, him or her will love to be a leader without facing the fear (stage freight)...it cant work! Politicians brave these things and address nations, millions of people at a go. They were not born that way...nope. They squashed the fear. So when I see some of the big names on tv (MD/CEOs of big companies) like Mark Zukerberg, the late Steve Jobs etcetera...I know that they took a bold step (or series of bold decisions) to attain such impressive level of success.
Looking at the potentials of forex market, one can only be limited by fear, internal limitations, lack of knowledge etc...When some people are shifting thousands of dollars from the market into their accounts everyday. One needs to picture the future before featuring in it.
Look at someone's trade result for today alone (the account is in GBP). She said she doesn't use SL. This is how she trades everyday. Its very possible to become a multi-millionaire from trading...We can do it..
Yes we can!

priceaction:

This is the greatest quote i have read this year. Keep it working man.

Skrill for sale. $500 worth @ 360/$1

xmas bonus

DivinePips123:
Absolutely bro. The quote is very deep when you brood over it. It applies to all spheres of life (not only trading). For instance, we keep complaining about leaders/politicians but the fact remains that those people conquered fear and took some risks to get to where they are now (exalted positions that other risk averse people can't attain). If you ask some people now to get on a podium, give him or her a Mic to address 500,000 people (to give an impromptu speech), the person may develop stage freight and prefer to shy away (remain in comfort zone), yet, him or her will love to be a leader without facing the fear (stage freight)...it cant work! Politicians brave these things and address nations, millions of people at a go. They were not born that way...nope. They squashed the fear. So when I see some of the big names on tv (MD/CEOs of big companies) like Mark Zukerberg, the late Steve Jobs etcetera...I know that they took a bold step (or series of bold decisions) to attain such impressive level of success.
Looking at the potentials of forex market, one can only be limited by fear, internal limitations, lack of knowledge etc...When some people are shifting thousands of dollars from the market into their accounts everyday. One needs to picture the future before featuring in it.
Look at someone's trade result for today alone (the account is in GBP). She said she doesn't use SL. This is how she trades everyday. Its very possible to become a multi-millionaire from trading...We can do it..
Yes we can!

From the account you posted below, I am very comfortable with swing trading,but with what I saw below it seems scraping is the way, I have been working on changing to that lately and with some decent results, I got tied down most time with swing trade, naturally I am a very impatient person and it seem that goes well with scraping, but market has taught me patience the hard way,but with some results I am getting from scraping strategy in the last 3weeks I believe it's the deal!
Surely which ever strategy you use,I think it's very important to know thyself

Tunderr:
Example of what the guy I call my mentor can do.

The $200 live account was a training account, he took few of us to team viewer for the training but I could attend due to some family issues. I have messaged him again that I want some training to fine tune my trading, he said he doesn't have time, that he will add me to his list, whenever he wants to do free training again, he will message me (screenshot prove attached).

The other large account is one of his normal account.





Hello sir, if you are very new, you need to go through https://www.babypips.com/learn/forex first, to learn what forex is all about.

Thank you so much Bro..

Hey , be careful of your so called guru you see online , posting winning trades before you throw your money into burning fire. Do you due diligence, don't be Like Sheep to the Slaughter

-$10k gone in 2 weeks.

currentprice:
@ priceaction, it look like I senior you in this business if you don't mention "North finance" as one of your broker. I started with North finance

See chairmen! Alpari UK, Marketiva and North Finance cashed out big on us back then in 2007/2008. Then FXpro joined in 2009. Lots of forex teachers didn't know anything but were busy organising seminars and ruining people's savings.

Thank God it was all part of a formative process

Fxwarrior:
Guys in all honesty. Trading with any fund less than $500 can be frustrating.

With $500 it will be easier to trade a lotsize of 0.02 with peace of mind and it paves way for a faster rate of account growth than starting with $100, its like the person is joking.

That's my honest opinion.

If the person is a new trader just looking to make money for themselves quickly, then yes it could be frustrating.

However, if the new trader is just focused on becoming good and building a good track record, it won't be frustrating. Especially when they have other means of income.

Once he/she succeeds with becoming a consistently profitable and responsible trader, the small account can open doors to big money. Doesn't have to be yours alone.

5 years ago I didn't even have a personal 5 digit dollar trading account but the progress I made since then as a trader means I now comfortably control 7 digits that I don't even know where it came from and I didn't advertise anything. Today, even if I only make 2% a month on average, I can still end the year with a comfortable 5 digit revenue.

Put the process first and the money will surely follow.

AK284:






From the account you posted below, I am very comfortable with swing trading,but with what I saw below it seems scraping is the way, I have been working on changing to that lately and with some decent results, I got tied down most time with swing trade, naturally I am a very impatient person and it seem that goes well with scraping, but market has taught me patience the hard way,but with some results I am getting from scraping strategy in the last 3weeks I believe it's the deal!
Surely which ever strategy you use,I think it's very important to know thyself

As someone experienced in both, scalping* is by far more mentally and physically demanding.

Will you be able to sit in front of your computer during your trading hours without any distractions? Also, with the sharp swings and noise happening on lower time frames these days, will you be able to stay calm when you see a trade go - 20 pips against you first before going your way again, especially on the huge lots required to make scalping worth it?

Anyways like you said, "knowing thyself" is what matters.

DivinePips123:

Nice profile on Forex time bro.. Why don't you explore bigger platforms like Etoro and Darwinex.. If your account has at least one year worth of GOOD history, you can get $1m in investment in the next 6 months without any adverts.

Read my previous posts on this subject to understand.

Tunderr:
Hey , be careful of your so called guru you see online , posting winning trades before you throw your money into burning fire. Do you due diligence, don't be Like Sheep to the Slaughter

-$10k gone in 2 weeks.

I have no pity on anyone still investing in traders in this crude manner of handing out money without proper analysis of their trading ability and without being in control of your money. PAMM accounts and the different variations that exist don die finish?

Smh.

Shevychen2:

Nice profile on Forex time bro.. Why don't you explore bigger platforms like Etoro and Darwinex.. If your account has at least one year worth of GOOD history, you can get $1m in investment in the next 6 months without any adverts.

Read my previous posts on this subject to understand.

Ok bro. I will look at it. Thanks a bunch.
One love.

AK284:






From the account you posted below, I am very comfortable with swing trading,but with what I saw below it seems scraping is the way, I have been working on changing to that lately and with some decent results, I got tied down most time with swing trade, naturally I am a very impatient person and it seem that goes well with scraping, but market has taught me patience the hard way,but with some results I am getting from scraping strategy in the last 3weeks I believe it's the deal!
Surely which ever strategy you use,I think it's very important to know thyself

You are so correct...trader know thyself! The lady whose result I posted is a super scalper with very high lots and no SL. That's her trading style. I bet she has mastered candle sticks and know exactly when to pull the trigger upon formation of the right candle stick.
She advises people not to trade like her because it's very risky, unless they absolutely know what they are doing. Well, it's her style and works for her. I use it to motivate myself and remind myself of the enormous opportunity that the market presents (someone said $220 billion changes hands in the market every hour as per analysis, don't know how far it's true though).
It's just to find what works for you, test it over time and stick to it

Shevychen2:

As someone experienced in both, scalping* is by far more mentally and physically demanding.

Will you be able to sit in front of your computer during your trading hours without any distractions? Also, with the sharp swings and noise happening on lower time frames these days, will you be able to stay calm when you see a trade go - 20 pips against you first before going your way again, especially on the huge lots required to make scalping worth it?

Anyways like you said, "knowing thyself" is what matters.

You don't always have to use large lots. I feel the success in scrapping/ scalping is in the number of trades made successfully.
My opinion o

DivinePips123:
Absolutely bro. The quote is very deep when you brood over it. It applies to all spheres of life (not only trading). For instance, we keep complaining about leaders/politicians but the fact remains that those people conquered fear and took some risks to get to where they are now (exalted positions that other risk averse people can't attain). If you ask some people now to get on a podium, give him or her a Mic to address 500,000 people (to give an impromptu speech), the person may develop stage freight and prefer to shy away (remain in comfort zone), yet, him or her will love to be a leader without facing the fear (stage freight)...it cant work! Politicians brave these things and address nations, millions of people at a go. They were not born that way...nope. They squashed the fear. So when I see some of the big names on tv (MD/CEOs of big companies) like Mark Zukerberg, the late Steve Jobs etcetera...I know that they took a bold step (or series of bold decisions) to attain such impressive level of success.
Looking at the potentials of forex market, one can only be limited by fear, internal limitations, lack of knowledge etc...When some people are shifting thousands of dollars from the market into their accounts everyday. One needs to picture the future before featuring in it.
Look at someone's trade result for today alone (the account is in GBP). She said she doesn't use SL. This is how she trades everyday. Its very possible to become a multi-millionaire from trading...We can do it..
Yes we can!

What's her name broo

Profitable trading seems to be difficult this season.

ayesco202:
Profitable trading seems to be difficult this season.

its extremely difficult, i got into one yesterday scalping, it took extreme caution and attention for me to close the trade without being burnt, I made $33 though. im off for the year. I leave the market for the rest of this year to professionals and my mentors here

I see more fire on this thread.
I bet, 2019 will be bigger.
Everyone get your guns ready, we will kick it this 2019.
Hopefully one of us will start a hedge fund come 2019

Wishing everyone.. compliments if the season.