Have You Ever Tried Forex Trading?

The Free For All Lounge
#1

So, as the title says: Have You Ever Tried Forex Trading ? If yes, why don’t you share your story with us.

Why Am I Posting This:

:warning: I’m posting this as a warning to all our community members so they can learn from my mistake and from other members stories as well if there are others who tried it and don’t end up losing money just like that.:warning:

Let’s start with mine:

First Story:

2 years ago, I tried Etoro and lost about $1200 because I didn’t respect the Money Management Rules. Where you shouldn’t risk anything more than 3 - 5% of the money you have in your account and because of greed I risked everything and lost it of course :smiley:

The funny part is that I got it to more than $1700 in about 3 days and then to $0 in less than 6 hours.

If you are risking almost all your money in every trade you open you will lose everything at the end even if you make 99% winning trades (which is impossible) because once you will lose 1 trade you will lose the whole money, but if you respect the 3 - 5% rule, you will need a lot more than 50 trades before losing your money which will keep you safe for the long run.

Second Story:

I started this one just two weeks ago and ended it just today, this time I didn’t trade for myself but copied successful traders, not in etoro this time but in 1broker. Some of those traders had +200%, +400% and even +500% in this month.

But when I started all of them started losing trades lol. I got down from $1200 to $800 in less than 2 weeks and I stopped it today and withdraw the rest of the money so I don’t end up losing all $1200.

Why Forex Sucks:

It sucks because you are trading against robots and you will probably end us losing more money than what you make as a beginner.

As a small trader, you will need to go through a broker and most of those brokers are market makers which means they don’t send your trades to the market but they keep them at their end and wait for you until you lose.

Also a big trader named Mustapha Belkhayat adviced everyone to stop trading Forex and stick with futures trading instead but now he’s recommending crypto currencies trading among all others.

No One Is Making Money From Forex? :

No, some people are making money from Forex for sure but probably 98% end up losing their money. For example @Adnan knows a friend of his who is making a living from forex.

But his friend have an economy degree and was the first of his generation. So, unless you spend 1 - 2 years to learn how to trade please don’t burn your money :slight_smile:

What is your story?

If you ever tried Forex, please share your story with us so others don’t fall in the same mistake and end up losing their money.

And at the end please stay away from Forex :smiley:

#2
#3

Even him was losing at first :smiley: Like in everything, testing is a must, now it only depends how much of your time and money you can afford to lose.

1 Like
#4
#5

@Said be honest with your experience.
I believe spending money at an roulette table in the casino will have more chances to win $, true ?

I don’t believe in " learn to trade " it’s just a gamble. Like in the casino.
Last week i joined an roulette table with 50€ and i leaved with 630€.
No need to check daily stats to wait for the trade gamble.:grimacing::grimacing:

#6

I suggest you give SpreadBetting a try,they don’t charge broker type commisions and you can trade anything.
I am using www.intertrader.com wich has lower spread limits,but the biggest of them all is www.ig.com (i use this for ProRealTime chart system,its free).

#7

Well I never do Forex or any other form of gambling or even investing in cryptocurrency. My logic mind tell me that this will not earn money. This is only an entertainment activity, not for earning money

#8

Trading isn’t the same as gambling, but you need a lot of time to learn it otherwise you are just wasting your money.

But if you are a newbie then probably you have more chances to win at a roulette table.

#9

Thanks but I’m not looking for other stuff to try related to trading, maybe you can share your story with us about trading.

#10

With how many $$$ you started ?

#11

I started with $1200

#12

$500 in 3 days is very nice :ok_hand:

#13

and -$1700 in couple of hours is very bad. :smiley:
Stick with Social media marketing :smiley:

3 Likes
#14

Exactly :joy: :joy: :joy:

1 Like
#15

By creating new account with trading niche, :smiley:

#16

I started trading stocks & options at the ripe age of 18 after banking on my serving career and side-business, but like many I soon realized I needed one of two things, or both… either more money, margin, or both. I had done all my research on my own and began reading about the allure of wonderful forex “the most liquid market in the world” and was slowing getting hooked after immersing myself in the FX vocabulary. Next thing I know I moved 50% of my equity account into a micro-fx account. I kept trading small ALWAYS WITH A STOP LOSS and started to see my account grow. Within 6 months I had an impressive return that I do not want to disclose on here and took some time to think about the craziest time of my life trading fx. I went back with a fresh mind cut my trade size in half to secure my earnings and continue to swing and position trade to this day. I would love to help anyone looking to get into the market, I took my time to pass the series 3 commodity sales representative when I was 20 and am 23 now if y’all need anything I am completely free of regulations to give you “advice” :wink:

1 Like