Q&A: i am finding forex is very confusing as opposed to stocks when it comes to charts and setups?
Question by christian: i am finding forex is very confusing as opposed to stocks when it comes to charts and setups?
i just cant seem to find a consistent and repeatable trading strategy as opposed to stocks..i know you can make large sums of money in forex as i see from competitions and people make 700-1000% per month…but i cannot grasp or find a way to consistently trade forex….do you have any workable ideas to help me on the right track…i really want to figure it out..thanks
Best answer:
Answer by Common Sense
If you really believe that people typically make 700%-1000% a month you need an introduction to reality. If you find someone that says you can easily make 50% per month through FX…. they’re lying to you.
Perhaps you should start reading one of the many legit books on trading. Right now you’re on the planet Venus. Thinking these rates of return are possible… will quickly wipe out your account.
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In forex you realy can make good money .But you need to study the market first and learn and understand as more factors that affect it as possible.Concider studying two years time to understand the market.The best way to start learning is to start trading with a mini account,and on an easy platform,and at the same time studing the more advanced platforms on a separate demo account.This way you will not risk any serious money and you could also earn while learning.When you will have understood the advanced platforms and the indicators and how the market reacts then you will be on the right path to start making realy good money.
It is quite possible to get a handle on things using Fap Turbo and any number of expert guides to help you out with it.
http://fapturbo.automatedforexplatform.info
And Fap Winner: http://fapwinner.automatedforexplatform.info – To get a handle on it.
you can see lots of guiding video here http://tradingforexrobot.com/
I hope that helps…
Good Luck
Melissa Iconic
Forex is so much different then the stock market. Most the time in the stock market you are looking for profitable companies to buy unless you are a short seller which most people are not. In forex you buy for a much shorter amount of time and you are looking for quick gains. There are so many types of trading strategies and it is impossible for any of us to pick one out for you because everyone has their own trading style. To succeed in forex I would recommend reading up on different strategies and finding a strategy that works for you by opening up a practice account with a broker and just refining your strategy until it is consistently profitable. Once it is profitable then move forward with adding some of you own cash into an account. It took me over a year before I found a strategy that works for me and I made the mistake of adding real money into an account before I figured it out.
Each currency pair has its own “personality” depending on the way it reacts to certain data, its volatility, and its correlation to other currency pairs. In a way, this makes forex a bit easier to trade than stocks in the sense that you may only need to study and master just a single currency pair to be able to profit consistently with forex. But do not aim for 700-1000% a month returns. It is a sure way to burn your account rapidly.