Vaping Forex Traders

[Dane]

Afternoon

Are there any Vapers here who trades Forex as a hobby or even for a living?

Just a little background:

Trading has been a keen interest of mine ever since my Economics lecturer encouraged us back then to enter a competition on the JSE which eventually led me to Forex the biggest 24 hour market you will ever find. Last article I saw it was estimated that $6 trillion get's traded on the Forex markets daily.

Long story short I have been playing around with Forex for the past almost 8 years as a hobby in my spare time as I have never been able to quite crack this yet, but I still enjoy every aspect of trading and if I could do it for a living I will be a happy man. As the saying goes "Choose a job you love and you will never work a day in your life"

Cheers
Dane

 

[gertvanjoe]

Tried it but failed eventually. Forex to me is essentially a zero sum scenario. Someone has to lose for me to win and vise versa. Just, I had mostly been on the loosing side

 

[Silver]

@Dane, when you get it right please let me know

Forex markets are indeed astounding and I can fully appreciate why they keep so many glued to the screens 24/7. But their movements baffle me at the best of times. So many variables at play and many unforeseen events.

 

[Dane]

Forex trading or any trading for that matter really comes down to how you manage your risk and money consistently (based in my limited experience). You can be a very successful trader by just having a win rate of 30%, sound unreal but possible. Just a simple example but for every trade you take if your reward is at least 3 times greater than your risk you will essentially grow your account, that coupled with account compounding. The key and the real struggle is to be consistent in your application!

I only consider what is referred to as technical analysis and just completely avoid 'big' news / fundamental events, just too unpredictable.

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