Forex trader as a full time Job

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EdwardWilkinson said:
Hello,

I am currently 20 years old and I am doing my intern-ship at Forex varsity.

You can definitely make money by trading Forex but some people have no control over their greed and then tend to lose more money than they make. You can achieve ROI of up to 25% a month on your account.

The big mistake that most new Forex traders make is that they want to learn themselves how to trade. This is GAMBLING. I would strongly advise every trader new or old to do a course on Forex trading.

Here is the link to their website: (http://www.forexvarsity.com/). They have branches in Jozi, Cape town and Durban.

You can also call Mikhail Page at their head office for advice and any questions. He is the head of trade.
(Head Office: 021 556 0997)

Thank you and happy trading! :)
Click to expand...

Yeah I heard about them. I wonder do they do Binary Trading too?
 
EdwardWilkinson said:
Hello,

I am currently 20 years old and I am doing my intern-ship at Forex varsity.

You can definitely make money by trading Forex but some people have no control over their greed and then tend to lose more money than they make. You can achieve ROI of up to 25% a month on your account.

The big mistake that most new Forex traders make is that they want to learn themselves how to trade. This is GAMBLING. I would strongly advise every trader new or old to do a course on Forex trading.

Here is the link to their website: (http://www.forexvarsity.com/). They have branches in Jozi, Cape town and Durban.

You can also call Mikhail Page at their head office for advice and any questions. He is the head of trade.
(Head Office: 021 556 0997)

Thank you and happy trading! :)
Click to expand...
How much did they pay you for the marketing?
 
How to make a small fortune with trading?

Start with a big one.
 
No they do not do Binary trading.

And I wish i got paid lol Just giving some advice for people who would like to go into the environment
 
I haven't traded before and I'm just starting to research what it entails and the best method for this.
I've come across a few 'schools' - one of which is London School of Investments ( http://www.lsitrader.com/ )
Can anyone share some advice on using these schools to get into trading?
 
Chris14 said:
Yeah I heard about them. I wonder do they do Binary Trading too?
Click to expand...

From the brokers Ive spoken to the "bust" ratio for binary options is 100%
There is absolutely no-one who makes money with this.

wonduhboy said:
I haven't traded before and I'm just starting to research what it entails and the best method for this.
I've come across a few 'schools' - one of which is London School of Investments ( http://www.lsitrader.com/ )
Can anyone share some advice on using these schools to get into trading?
Click to expand...

Trading entails hard work for a minimum of 5 years, just like any other profession.
There is no "best" method, if you read Market Wizards you will see that any method can work -
Buffet doesnt trade in the same way as Soros or as Ed Seykota or as Peter Brandt, etc etc

You can learn everything you need to know about trading from free sites,
if you get a good site (or a good mentor) that charges it can fast forward this process.
Finding a good site or a good mentor is rare though, especially one that has time to give.
 
Chris14 said:
Yeah I heard about them. I wonder do they do Binary Trading too?
Click to expand...

I agree with Edward. I gave FX Varsity a call and spoke to their head trader. They gave me a free consultation.

They also offer a mentorship program where you can come into their trading room and discuss trades before you make mistakes. I use their signals system where they give you a heads up on what to look out for.
 
bchip said:
Trading entails hard work for a minimum of 5 years, just like any other profession.
There is no "best" method, if you read Market Wizards you will see that any method can work -
Buffet doesnt trade in the same way as Soros or as Ed Seykota or as Peter Brandt, etc etc
Click to expand...

That book is amazing.
 
Ive made some money trading forex..heck even left my job. First learn the basics such as fundamental and technical analysis then it stops being a gamble. Ive also found this (free to download) modified pivot point indicator and it seems good. check it out and tell me what you guys think maybe it will add an edge
Here's the link http://goo.gl/YZsYmA
 
bchip said:
There is no "best" method, if you read Market Wizards you will see that any method can work -
Buffet doesnt trade in the same way as Soros or as Ed Seykota or as Peter Brandt, etc etc
Click to expand...

But would you describe what Buffet and Soros do as "trading"? They tend to take large strategic positions on immaculately researched fundamentals and wait. It's not like they're day trading. You could more aptly describe them as strategic investors, but not so much traders.
 
I lost R120 000.00 with FX trading so be aware. There are many unscrupulous FX brokers out there and most are "registered" in dubious countries.
One experience was a buy trade that that tanked big time and the platform froze so I could not get out. Very convenient for them.
I tried to withdraw some gains but found it impossible. I kept getting a run around for months until they asked me to place one last trade in gold. I did this and my lot increased 10 fold and all was gone in 1 day.
FPA is full of this very same complaints and nothing can be done so be careful.

If you really have to want to do FX, then stay with SA FX brokers.
 
For fellow trading newbies, I found a good video from Banc de Binary which discusses binary options and more importantly gives an overview of what news events to trade as well as the relationship between the price of commodities such as oil/gold and the USD. Think the vid is a good starting point in getting a general feel for how the markets work.

https://www.youtube.com/watch?v=sxFplbZUAGs&spfreload=10
 
garp said:
But would you describe what Buffet and Soros do as "trading"? They tend to take large strategic positions on immaculately researched fundamentals and wait. It's not like they're day trading. You could more aptly describe them as strategic investors, but not so much traders.
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No they dont day trade, but what is your definition of trading?

Is it holding for short periods of time or is it holding derivatives?
Is it based on fundamental research or holding equities?

For example when Soros held Shorts on the EUR/GBP was that an investment or a trade?
When Buffet bought and Sold IBM within a couple of months was that a trade?
Soros has been holding options and shorts on the US markets for 2 years, is that an investment or a trade?

It all comes down to your definition of trading versus investing,
the line is actually very grey.

I know investors and traders like to distinguish themselves from one another
but quite honestly its all very similar,
an activity in pursuit of a decent profit.
 
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Investing has a long term goal and is usually done with the expectation that a companies earnings will grow (or shrink) over time based on fundamentals of the company (selling something shortly after buying it does not necessarily make it "trading" in nature, fundamentals or sector outlook might have changed or it could be driven by portfolio rebalancing)

Trading has a short term view and the method of making money is by identifying mispricing that is expected to correct in the short term (possibly driven by news events or sentiment)

Well at least that is how I differentiate. The actual instruments used don't come into it (except binary options, they don't fall into either category, they are just a c**p shoot :p).
 
Jehosefat said:
Investing has a long term goal and is usually done with the expectation that a companies earnings will grow (or shrink) over time based on fundamentals of the company (selling something shortly after buying it does not necessarily make it "trading" in nature, fundamentals or sector outlook might have changed or it could be driven by portfolio rebalancing)

Trading has a short term view and the method of making money is by identifying mispricing that is expected to correct in the short term (possibly driven by news events or sentiment)
Click to expand...

Where does that leave the following then?
- Momentum investment strategies that rebalance every 3 months
- Satrix Top40 that rebalance quartlerly?
- Gold holders and Currency investors
- Buffet has bought and sold more shares in his life time than I will if I live to twice his age
(he used to buy and sell monthly...his mentor Benjamin Graham [the intelligent investor]
used to sell everything annually and start again)
- William o Neal CANSLIM strategy that uses fundamentals to trade
- and Ed Seykota who invested in trading systems that sometimes held for years

Like I said its a fine line, and its easy on paper.
If I can give some advise focus on the opportunity rather than what to call yourself.

Bruce Lee said in "Enter the dragon" (as he points to the sky)
"Dont look at the finger or you will miss all that heavenly glory"
 
It is a proven fact that only 2% make in FX trading. So leave FX alone. SSF's and CFD's are more secure and more money can be made but it comes with a hefty penalty. SARS takes 41% of your gains. So what is the use of doing it?
Perhaps only if you have a small amount to punt but do not expect huge gains to live off.
 
bchip said:
Where does that leave the following then?
- Momentum investment strategies that rebalance every 3 months
- Satrix Top40 that rebalance quartlerly?
- Gold holders and Currency investors
- Buffet has bought and sold more shares in his life time than I will if I live to twice his age
(he used to buy and sell monthly...his mentor Benjamin Graham [the intelligent investor]
used to sell everything annually and start again)
- William o Neal CANSLIM strategy that uses fundamentals to trade
- and Ed Seykota who invested in trading systems that sometimes held for years
Click to expand...

It has almost nothing to do with how long things are actually held for, its all about the intention at the outset.

Portfolio rebalancing is, if not necessary, at least a very important part of long term investing.

Buying and selling often does not necessarily indicate trading rather than investing. If you invest in a company and its outlook materially changes it would be stupid not to re-evaluate your holdings in light of the new information. This does not change the fact that it is/was an investment.

I never said that trading was limited to using technical indicators, if you can use fundamentals to find mispricing that you expect to correct in the short term that is still trading.

And finally, as I said, its about intent, most trading systems will give a buy/hold/sell answer, just because it says hold repeatedly does not make it an investment.

In summary, I disagree, its not that hard in practise either (although it is completely unimportant as you mentioned)
 
EdwardWilkinson said:
Hello,

I am currently 20 years old and I am doing my intern-ship at Forex varsity.

You can definitely make money by trading Forex but some people have no control over their greed and then tend to lose more money than they make. You can achieve ROI of up to 25% a month on your account.

The big mistake that most new Forex traders make is that they want to learn themselves how to trade. This is GAMBLING. I would strongly advise every trader new or old to do a course on Forex trading.

Here is the link to their website: (http://www.forexvarsity.com/). They have branches in Jozi, Cape town and Durban.

You can also call Mikhail Page at their head office for advice and any questions. He is the head of trade.
(Head Office: 021 556 0997)

Thank you and happy trading! :)
Click to expand...

You can make 25% a month for sure, even you can make 100% a month but for how long.

If you can make 25% per month after 12 months you will have about 1500% compound interest.

And if you can do that for 3 years you will have about 300.000% return.

So starting with 1000USD in 3 years you will have 3 million USD.

Good luck with making 25% pm month after month

I
 
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