Forex beginner

darkpool

smeagold wrote: »

There are downsides to trading, especially if your day trading and scalping; boredom. Its boring cos I've no choice but to constantly check dozens charts over multiple markets 1000s of times a day and (just checked the charts)check news feeds and news sites hundreds of times a day in a never ending cycle. literally chained to the screen cos the minute you turn your back you'll miss a move(just checked the charts) and the stress of course. At times I absolutley hate it and just have to take a break, occasionally for days on end(checked charts again) it's just determination and committment and a relatively decent IQ everything else can be learned.

ehhhhmmmm all that work for a grand a month? i think i'll stick to my present job.

smeagold

darkpool wrote: »

ehhhhmmmm all that work for a grand a month? i think i'll stick to my present job.

a grand a month is a bad month and I don't have many of them. stick to your day job mate. keep climbing that slippery pole and who knows, if you work really hard, you might get a 15p pay rise.

leahciM

smeagold wrote: »

a grand a month is a bad month and I don't have many of them. stick to your day job mate. keep climbing that slippery pole and who knows, if you work really hard, you might get a 15p pay rise.

You don't have to answer this Smeagold and I totally understand if you don't wish to, but I was just wondering...

How much is a good month?

darkpool

thanks for the encouragement i'll look forward to that 15 pence pay rise

smeagold

leahciM wrote: »

You don't have to answer this Smeagold and I totally understand if you don't wish to, but I was just wondering...

How much is a good month?

jan was a bad month cos gold and silver where going down, and I basically just buy the dips but I still made £1100(oil helped) that was a bad month, the worst month in a about a year, in dec I made £2200. in nov £1900 the avg is between $1800 and $2300 tax free, as of now from feb 1st I'm up £637 and its the 8th so I'm on course for 2k for month, which is what I aim for.my best month in the last year was £2700. It's enough to keep me happy, my float is 10k so its a monthly 18-25% return on avg. people can laugh, I don't care, i sit at home all day doing little more than pressing a few buttons, beholden to no-one., work when i want do what I want. easy living and no chance of getting the sack I see no problems with this kind of life, been doing it for 3 years full time. if was to put 30k in the account i could tebble my earnings, but I'm quite content with this. we live well so why be greedy? the market is always there tommorrow and if I feel i need to make more money I might, but for now 2k a month is fine.

lampard

smeagold wrote: »

jan was a bad month cos gold and silver where going down, and I basically just buy the dips but I still made £1100(oil helped) that was a bad month, the worst month in a about a year, in dec I made £2200. in nov £1900 the avg is between $1800 and $2300 tax free, as of now from feb 1st I'm up £637 and its the 8th so I'm on course for 2k for month, which is what I aim for.my best month in the last year was £2700. It's enough to keep me happy, my float is 10k so its a monthly 18-25% return on avg. people can laugh, I don't care, i sit at home all day doing little more than pressing a few buttons, beholden to no-one., work when i want do what I want. easy living and no chance of getting the sack I see no problems with this kind of life, been doing it for 3 years full time. if was to put 30k in the account i could tebble my earnings, but I'm quite content with this. we live well so why be greedy?

Always been interested in this type of self sufficient setup. What software do you use to trade?

smeagold

lampard wrote: »

Always been interested in this type of self sufficient setup. What software do you use to trade?

I use fxcm

http://www.fxcm.co.uk/

tight spreads and no expiry, they have a 1 month demo with pretend money to practice and profits are tax free but I would warn anybody against doing this unless you know exactly what your're doing or else you will get severly burned. For me it's kind of easy cos I been doing it so long but as always I'm happy to explain to people how you trade these markets.

purch

I'm happy to explain to people how you trade these markets

Gissa clue.

I'm down £ 74,000 this month already. :eek:

Might have to get a real job :mad:

leahciM

purch wrote: »

I'm down £ 74,000 this month already. :eek:

Ouch :eek:

darkpool

smeagold wrote: »

no problems with this kind of life, been doing it for 3 years full time. if was to put 30k in the account i could tebble my earnings, but I'm quite content with this. we live well so why be greedy?QUOTE]

in all honesty if you could treble your earning by putting an extra £20k into your account why not just do it? On another thread you are talking about getting a mortgage to buy a house. If you can get 18% a month you will turn £50k into a million in 18 months. Why not do this and forget about a mortgage?

In all honesty do you not think someone with your trading skills should set up a trust fund for your family? If you dropped dead tomorrow you would leave them your 10k risk capital and your silver.

If i was in your shoes and could get 18% a month I wouldn't be messing about with small change. I'd be putting serious money into trading.

After a few years i'd buy a big house (mortgage free) and setting up a trust for my family with a good few million in it. Then I'd set my sights on becoming the richest man on the planet.