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TRADE AND BECOME A MILLIONAIRE IN SHORT TIME- A BIGINNERS DREAM
It begins with a dream of an easy way out to making money, I mean lots of it. It was the same for me when I started trading forex. I thought I finally found a convenient way out of poverty. It is good to dream and dream big but dreams are always dreams. Some come true and very many do not.
When I started trading in 2011, I was damn broke as hell. After a few lessons on trading and demo account practice for a few weeks, I felt I was ripe enough to trade live. I invested 3000USD of my hard earned savings. I made my calculations and thought, I was on the verge of hitting it big. This feeling gave a very positive energy of life and I just found myself smiling all the time. (of course I will be rich soon). However, after just two weeks of live trading the scale fell off my eyes when my initial deposit of 3000 USD evaporated up to 90%.
But is it really possible for a traders (professional or amateur) to have only winning trades??This is the question on every beginners mind. I also erroneously thought one could have only all winning trades. This is practically impossible even in only one month of trading.
BUT HOW CAN ONE BE S…
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rh6899 avatar
rh6899 7 June

confirmed and will might be confirmed soon
crossed and will might be crossed soon

waiting confirmed and crossed happen is exhausted (who said it is a fun job? there is no fun in any job)
hoping will might be confirmed soon or will might be crossed soon is expensive (this must be the first lesson for a trader and must be train for this condition a trader must pass this test first)
when it is confirmed or crossed but not perform this can be fix and we spot it soon

JockPippin avatar

If trading isn't boring ..then you are doing it wrong ...A waiting game and positions that don't get your heart rate up even when it's falling before your eyes means you got your money right .It shouldn't be exciting it should be mundane and calculated .Nice to hear a story from a guy that's put his money where his mouth is  instead of some nugget winning the article contest that's  never traded for real and telling me about waves and candlesticks :)) .

nobleline9 avatar

Hi JockPippin, Yes trading is sure boring and not as easily lucrative as some seem to make of it.

JockPippin avatar

People are scared to lose and get a few scars to the wallet and run away but this game is a high risk of loss ...If your'e  scared of heights then don't sky dive as a hobby :))) . The money is sweet when you get it right ...no doubt !! ,It's how you handle your losses that determines if you are a good trader ...If you break even in this game you can consider yourself a winner :)) .

scramble avatar
scramble 9 June

Many many times I feel like trading is just about knowing deeply yourself and your limit. Most of the times you will have to buy the falling price, or sell the rise.! Think about... how many times did it happen? You buy the rising price just to get the extreme peak of a multi days downtrend? So extreme that the ask price is not even covered by the candle in the chart? And how many times did you give up waiting for a move to come, just to realized you left exactly when the move started? Trading is a business: you have to buy CHEAPER. And sell HIGHER. The trend is an human illusion. That's it.

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29/47
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BackgroundWhen you start trading it is always a question on strategy. One could consider why close negative positions and decrease your balance. Why not to wait while position turns positive, close it and increase your balance instead. Seems quite good. But is it so? Possible strategyIt is quite clear that if you open one big position which takes all your margin and if market goes against you, it could take years while your position turns positive or it could never happen if you receive margin call. Of course there is possibility to continuously add additional funds and wait while market goes in your direction. But it could take long years. From statistical point of view it should happen sooner or later but from statistical point of view it also could take more time than human being could live on this planet! It seems not interesting perspective.Therefore another possibility comes to mind. To use small positions which takes little part of your margin and if market goes in your direction just close profitable position and if market goes against you open new position at some point with expectation to close this position when it turns profitable. If not - open one more position with …
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ilonalt avatar
ilonalt 8 July

interesting article; but is it really possible to trade with such a high risk... without stoplosses; positions should be positioned very well

Likerty avatar
Likerty 9 July

Welcome to the contest!:)

litsat avatar
litsat 10 July

good luck for you here :)

Atashi_Tada avatar

good luck

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19/41
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Dear Friends I would like to share a trade with you guys that I took a couple of days back on the EUR/USD pair. Please find attached the chart for your reference. I have marked two zones on the chart namely Zone 1 where I entered long on the trade and Zone 2 where I would like to book profits. This trade was taken purely on a 4hr chart using Metatrader 4 as my platform and no indicators whatsoever just pure supply and demand strategy.Supply Level : It is a level where where most or all buyers are exhausted and prices turn down.Demand Level: It is a level where most or all sellers are exhausted and prices turn up.PS: The most important point is that when the level hit the zone, the zone needs to be a fresh zone and not a one that has already been tested.Factors to consider while going Long(@Demand) or Short(@Supply)Zone 1: You would like to see how price has left the level. The price @ zone 1(Demand) has left the zone with strong rally and big strong GREEN candles. That means there was strong buying pressure at Zone 1.Now idea is if price visits zone 1 for the first time, the zone being fresh you would want to go long at this juncture.Zone 2: You again see how price has left the lev…
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SpecialFX avatar

Unfortunately, you forgot to upload the chart, or there is some technical problem with it. :)

Myprox4x avatar
Myprox4x 20 Aug.

Your title is great ...but where is the picture man??

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33/68
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Pivot Points:In this article, I am going to explain the use and effectiveness of pivot points in day trading.What are Pivot points?Pivot points are horizontal levels of  Support and Resistance which are used by traders from retail level all the way up to institutional levels. The beauty of Pivot Points is down to the fact that every major trader uses it and therefore it becomes even more useful.Along with the Pivot Point, there are levels of resistance which are placed above it and levels of support below. These act as leading levels where price is likely to stall or reverse.When using the Indicator on JForex they appear like this;They have coloured horizontal lines with the numerical value of each level listed above it.How pivot points are calculated:When calculating Pivot Points you use the previous time period Open (O), High (H), Low (L and  close (C) data. The previous time period is normally the previous day, however it can range from daily to monthly.There are 4 methods : Normal, Camarilla, Fibonacci and Woodie. Personally I think Normal is the most profitable and therefore I will cover that during this.To calculate the pivot point you use the formula - Pivot Point = (O + H  …
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Schaolin avatar
Schaolin 10 Apr.

very interesting article, you must put them in practice +1

AdrianWS avatar
AdrianWS 13 Apr.

Yeah, I do use them a lot in trading and they are very useful, good for Stop loss positions and Take profit areas.

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