You are viewing a single comment's thread from:

RE: Do you want easy money?

in #money6 years ago

Anybody who says they don't want EZ money is a liar. We all want something for nothing, as it were- I think we're all neurologically wired that way. Nobody trading forex has a 100% hit rate, there are no magic indicators that predict one single outcome. There are fundamentals and techniques to learn yes, but by and large, YOU are your own secret weapon. At the end of the day, your winning trades need to outweigh your losses (and you will have losses) - Period. There are any types of traders- day traders, swing traders, and investment type traders. Which time frame works for you and your life situation? You have to know yourself 1st, including how much money you can risk to be proven wrong. Are you even ok with being wrong? Are you emotionally detached from a trade outcome? The one thing that changed everything for me was realizing that money is made from how well you manage your risk and NOT from making the perfect trade. If you're stressed, its because you haven't managed the risk. Are you over leveraged?Are you risking more than you can afford to lose? Every asset class has it's own personality too. Know its personality like you would know a lover. Know how it reacts during the day or during FOMC. Let it speak to you. Most importantly....Plan your trade and trade your plan! Always be open to learning. It's a great way to earn money, but it isn't as straightforward as it seems. If it were, everyone would be doing it.

Sort:  

That's a really mindful insight and I know you have been there, on my side I've never wanted to do Forex tho I like trading cryptos because I believe they can move in a faster pace but I might be wrong. When I stopped trading cryptos the main reason was to create an small pot that I can play with while learning how to actually how to trade them.

Same things apply to crypto because BIG money creates the movement on the charts...not you..not me...or the collective retail market. Open a demo acct and start putting what you read about into practice!

Coin Marketplace

STEEM 0.30
TRX 0.12
JST 0.032
BTC 59274.49
ETH 2983.07
USDT 1.00
SBD 3.75