Hi there guys, i already write a little bit of this at Tkimbles thread, but i will like to start a new thread, so there we go:
First of all is important to note that the casinos are the most dangerous bussines in the world, they are the biggest thief in the world, they will try to atract you with some fancy promotions or bonusses but at the end they will take all your money and maybe your house, your car and maybe your wife too, i been working with the forex market since monthas a go and im a gambler since almost a year, so i know how to deal with this casinos and i know how to win, but i strongly recomend that you dont even think on play with them at least after studing a lot and becoming professional, so after saying this lets focus in forex.
Is very imnpoortant that you know this bussines in forex is not designed to become millonaire in a couple of months, you have to be patience, if you make 10,20 or 30 % montly that is great, the real thing about this is the compound and of course the money management, remember this is the key.
I been using a very old mnethod in forex since almost a year, in the casino this system does not work because the table limits, but, since we have no limits in forex and since we have systems that gave us some god trades it is very useful and profitable at forex.
We have a lot of methods of progresions in some games, a lot, but in forex i been implementig the martingala.
This method consist in double your tyrade every time you get a loss.
The first thing is to find a system or a signaling service that give you exact entry points, the stop have to be clear and the target has to be mayor than the stop.
So lets say that you just suscribe to acompany for signals that is paid or free, does not matter, lets say that the company give you a signal every day at some specific time" you cant be all day long glued to your screen, that is the point of this bussines to enjoy your life", so lets say that you get a signal at 5 pm new york time for example but the same time every day, or just any system that you know.
Lets say that company is the worst company in the world or your system is the worst system.
Lets asume that you have a 50 pips stop loss and 75 or 100 pips target.
Lets imagine that you have usd 2000.
So, on monday you receive a bad signal, you lost 50 pips at 0.1 mino lots usd$50, then on tuesday you have another loss 50 pips at 0.2 mini usd$100, on wednesday you will get another bad signal of 50 pips at 0.4 mini usd$200, on thursday you will get another bad signal of 50 pips stop at 0.8 mini usd $400, so you already have usd$750 lost, then finally that piece of crap company that you suscribe give you a god signal on friday, you got a 75 pips profit at 1.6 lots usd $1200, so you take 750 out of 1200 and you will get a usd $450 for that week.
Lets supose that this is the basis of that company "1 good trade out of 5", that is very bad but we have to think in the worst scenary.
In 1 month or 4 weeeks you will get 20 signals and you only will get 4 good signals, but that will be enough to win at forex, imagine only the 20% will be enough, now what if you have a better system or better signaling company, i only think in the worst scenarios but it will be better than that.
Note: I f your signals give you 5 bad trades out of 5 in a week you must look for another company, and trust me that the worst company in this bussines will give you a least 1 god one in the week.
I remember whe i first start going to casinos i find one on my city and i was very curious because i found some kind of elder mafia, ther was a small group of very old people, about 80 years old average, and then i saw they make money every day, so i try to be close to them but they were so cautious about me, maybe because i was to young for them, but finally after some weeks a become friendly with them and i start some kind of young and elder clan to play, i remember very clear the first time i talk to them about forex and the technical aproach, they laugh on me, then i try again and then they laugh on me again, then one of them says this:
Son, you the young people try to impress the other people with all that technical stuff, in forex the macd, stochastics and all that crap, you think you look so interesting because you put a lot of indicators on your laptop and show it to your friends or your girl and then you think you are so intelligent, but let me tell you this, life is more esay than that, its all about logic, every thing in this live have an mathematic explanation, every thing even your soul, since the men is men we have an explanation for everything, we laugh on you because we see how you waste your time and your life fighting with every thing, just thing on the easy way and enjoy your life, that was what that old man told me and that was the mos accurate thing i ever heard.
I will recomend very strongly to be very moderate, use the money management, if your account is less than 2000 use micro lots 0.01.
There is some other methods, there is one if you prefer, that is the even money, this one use progresion but you do not double your trade you just increment it by unit, so it will be like this:
1 trade 0.1 lost, 2 trade 0.2 lost, 3 trade 0.3 and so on, it is very conservative, but i prefer the martingala for me because i have signaling provider that gives me a good signals almost 3 god ones out of 5.
So that is all i have to say.
1 use a good system or signaling provider, is easy if it will give you entrys at some especific time every day, thats what i do i only chek that for about 30 min a day at specific time and thats it until the next day.
2 Use money management.
3 Be patience.
4 Enjoy your life , if you like to travel take your laptopò with you and connect it at the specific time os the signaling, place your ordesr and then close it and go to some bar, casino, restaurant or something and have a good time.
Ok guys, if you have some comment or some thing to add please do it, lets try to keep this trhead alive, i know this will help a lot of traders, thats the intention. help others for free.
God bless you guys.
First of all is important to note that the casinos are the most dangerous bussines in the world, they are the biggest thief in the world, they will try to atract you with some fancy promotions or bonusses but at the end they will take all your money and maybe your house, your car and maybe your wife too, i been working with the forex market since monthas a go and im a gambler since almost a year, so i know how to deal with this casinos and i know how to win, but i strongly recomend that you dont even think on play with them at least after studing a lot and becoming professional, so after saying this lets focus in forex.
Is very imnpoortant that you know this bussines in forex is not designed to become millonaire in a couple of months, you have to be patience, if you make 10,20 or 30 % montly that is great, the real thing about this is the compound and of course the money management, remember this is the key.
I been using a very old mnethod in forex since almost a year, in the casino this system does not work because the table limits, but, since we have no limits in forex and since we have systems that gave us some god trades it is very useful and profitable at forex.
We have a lot of methods of progresions in some games, a lot, but in forex i been implementig the martingala.
This method consist in double your tyrade every time you get a loss.
The first thing is to find a system or a signaling service that give you exact entry points, the stop have to be clear and the target has to be mayor than the stop.
So lets say that you just suscribe to acompany for signals that is paid or free, does not matter, lets say that the company give you a signal every day at some specific time" you cant be all day long glued to your screen, that is the point of this bussines to enjoy your life", so lets say that you get a signal at 5 pm new york time for example but the same time every day, or just any system that you know.
Lets say that company is the worst company in the world or your system is the worst system.
Lets asume that you have a 50 pips stop loss and 75 or 100 pips target.
Lets imagine that you have usd 2000.
So, on monday you receive a bad signal, you lost 50 pips at 0.1 mino lots usd$50, then on tuesday you have another loss 50 pips at 0.2 mini usd$100, on wednesday you will get another bad signal of 50 pips at 0.4 mini usd$200, on thursday you will get another bad signal of 50 pips stop at 0.8 mini usd $400, so you already have usd$750 lost, then finally that piece of crap company that you suscribe give you a god signal on friday, you got a 75 pips profit at 1.6 lots usd $1200, so you take 750 out of 1200 and you will get a usd $450 for that week.
Lets supose that this is the basis of that company "1 good trade out of 5", that is very bad but we have to think in the worst scenary.
In 1 month or 4 weeeks you will get 20 signals and you only will get 4 good signals, but that will be enough to win at forex, imagine only the 20% will be enough, now what if you have a better system or better signaling company, i only think in the worst scenarios but it will be better than that.
Note: I f your signals give you 5 bad trades out of 5 in a week you must look for another company, and trust me that the worst company in this bussines will give you a least 1 god one in the week.
I remember whe i first start going to casinos i find one on my city and i was very curious because i found some kind of elder mafia, ther was a small group of very old people, about 80 years old average, and then i saw they make money every day, so i try to be close to them but they were so cautious about me, maybe because i was to young for them, but finally after some weeks a become friendly with them and i start some kind of young and elder clan to play, i remember very clear the first time i talk to them about forex and the technical aproach, they laugh on me, then i try again and then they laugh on me again, then one of them says this:
Son, you the young people try to impress the other people with all that technical stuff, in forex the macd, stochastics and all that crap, you think you look so interesting because you put a lot of indicators on your laptop and show it to your friends or your girl and then you think you are so intelligent, but let me tell you this, life is more esay than that, its all about logic, every thing in this live have an mathematic explanation, every thing even your soul, since the men is men we have an explanation for everything, we laugh on you because we see how you waste your time and your life fighting with every thing, just thing on the easy way and enjoy your life, that was what that old man told me and that was the mos accurate thing i ever heard.
I will recomend very strongly to be very moderate, use the money management, if your account is less than 2000 use micro lots 0.01.
There is some other methods, there is one if you prefer, that is the even money, this one use progresion but you do not double your trade you just increment it by unit, so it will be like this:
1 trade 0.1 lost, 2 trade 0.2 lost, 3 trade 0.3 and so on, it is very conservative, but i prefer the martingala for me because i have signaling provider that gives me a good signals almost 3 god ones out of 5.
So that is all i have to say.
1 use a good system or signaling provider, is easy if it will give you entrys at some especific time every day, thats what i do i only chek that for about 30 min a day at specific time and thats it until the next day.
2 Use money management.
3 Be patience.
4 Enjoy your life , if you like to travel take your laptopò with you and connect it at the specific time os the signaling, place your ordesr and then close it and go to some bar, casino, restaurant or something and have a good time.
Ok guys, if you have some comment or some thing to add please do it, lets try to keep this trhead alive, i know this will help a lot of traders, thats the intention. help others for free.
God bless you guys.