[Ghenghis Kahn]

anyone make money doing this? discuss...

[Ralphie Halves]

I do. Plan on considering quitting my job after next tax season, as it will give me a better idea of where I'm at and if I'm ready.

Anyone who tells you that it's too hard to make money there has never taken the time to learn about it, has shit money management, or trades on fundamentals like a moron. It's a beatable game, moreso that just about anywhere else.

[Ghenghis Kahn]

do you strictly play the forex market? spot market, futures, options, or etf? how long have you been doing this? how much did you start with? with your experience, what advice would you give to a novice? thanks

[BeardedTaco]

Forex is a lot harder brah

[Ralphie Halves]

Just spot forex, no need for the rest. Started with about 5G.

Here's my advice: Go to the free school at babypips.com. It's excellent, and I finished it in three days. 98% of people that show interest and ask what to do get this advice, and don't even bother finishing it, which is a shame, they were probably looking for something that was more instant-gratification. For me to give off any further advice at this point, you gotta show a base level of initiative that these fools didn't have.

While you're at it, I do recommend Oanda as a broker, especially if you're in the USA. They have a demo account that never expires, and really low spreads. Other brokers have demos, but they run out and agent are hounding you to go live throughout the whole process. Get that set up too, and get used to the MT4 trading platform. MT4 is the nuts.

[Ghenghis Kahn]

cool thanks

[Ralphie Halves]

Forex is a lot harder brah

I'll disagree, and I'll challenge anyone to give me a good reason why.

I'm a mathematical retard, but I am really good at forex. Unlike stocks, you don't even have to stay up on news -- the charts will always tell you where to go. The only times news factor in is during certain events (GDP release, Non-Farm Payrolls, etc), and there are calenders that will not only tell you when they're happening (so you can either play the news or avoid it altogether), but if the result beat the forecast or not, causing the currency to move up or down.

There is an average of 4 trillion dollars being exchanged on the forex market daily, so no one man or small group of traders can ever move it on their own. Big banks can, and they have a pattern, and it can be learned to a degree. This is where the game is won. Takes a bit of time and effort, but a lot less than I thought.

[soul786]

Ralphie, I've been trading for about two years in the forex market. Are you more a swing trader/day trader? What's your preference?

[Ralphie Halves]

Ralphie, I've been trading for about two years in the forex market. Are you more a swing trader/day trader? What's your preference?

Since I'm on the road a lot, usually swing. I use 4h and daily charts above anything else now, and it's really served me well, even better than intraday trading. I might just stay with it for good.

[KingJD31]

How is stock market for suckers

[CaliSwag818]

Forex > Stocks errrday

[Ghenghis Kahn]

Go to the free school at babypips.com. It's excellent, and I finished it in three days.

holy shit, how the hell did you finish this in three days?

i think i need at least a week. but is it really necessary to just do the play money for 2 months as they suggest?

[Ralphie Halves]

It was slow at work, and I had three days off with no money. A week sounds about right. Take notes.

You can take as little or as long as you want. I took three weeks or so to demo trade, but I lost by entire live account before I figured it out the second time around. It's a lot of fun demo trading anyway, trying out all the different tools and things that will work best for you.

Like I said earlier, if you're looking for instant gratification, this may not be for you. By comparison however, there's nothing investment-wise out there that can get you out of the rat race quickly and still be sustainable as forex does, I'm completely convinced of that.

[texhooper]

just look at his fukking avatar, jesus christ...i wish i was a black man holding a martini...

[Ghenghis Kahn]

It was slow at work, and I had three days off with no money. A week sounds about right. Take notes.

You can take as little or as long as you want. I took three weeks or so to demo trade, but I lost by entire live account before I figured it out the second time around. It's a lot of fun demo trading anyway, trying out all the different tools and things that will work best for you.

Like I said earlier, if you're looking for instant gratification, this may not be for you. By comparison however, there's nothing investment-wise out there that can get you out of the rat race quickly and still be sustainable as forex does, I'm completely convinced of that.

sounds good. i'll be asking you questions after i'm done with babypip school and demo so i'll thank you in advance for your help...

[stevex]

Ralphie you still in the penny stock game?

Wowza?

[Ralphie Halves]

No time for wowza unfortunately.

Too many tweets for a guy you're not using. Had to let him go.

I like forex too much. Did okay with pennies, but took too many big hits. I'd still like to revisit it sometime.

[stevex]

Yeh have to agree. He would come out with like a million plays every day it seemed on Twitter. I mean, he would have his "future picks," but I don't know it was just tough to follow.

[Ghenghis Kahn]

How is stock market for suckers

never mind, me just being ignorant. if you can find an edge in trading, anything can be profitable...

[TRE1968]

sports can be profitable if you know how to do it and stay disciplined