Making money trading forex

[Pondlife]

Is this not the equivalent of laying a 40/1 outsider in a five horse race. You risk 400 quid to win a tenner and for the first 30 odd races your scheme works as all goes as everyone would expect.

You're off posting in the forums about your £300 of free money, then in the next race there's a rank outsider that no ones ever heard of...

Pop.

[eek]

I quietly chuckle at some of my close friends who have gone into various ideas over the years. One trades shares and then boasts when he's "won" loads as the value rises. He drives an 8 yr old Vauxhall Signum with 150k on the clock. Another guy earns shedloads on day rate and moonlights consulting for someone else. He sleeps about 2 hours a night and still has a mortgage. Another had several rental properties and then told us about all the court proceedings to evict tenants that wouldn't pay and get back rent. What do you expect when you buy in Northampton town centre??

My money is in the building society, it's still there, it's gonna stay there and I'm the one who has paid the mortgage off and sleeps at night, thank you very much.

So one drives a car he trusts rather than risk a new one and one lives in a big house in a posh location. Granted the third one sounds like a muppet but the other two probably have valid reasons for doing what they do.

[Jog On]

It amazes me people with so little knowledge of this field spout so many 'absolute truths'

@Dim - do you get to choose what % of your account gets risked on each trade and how to they do stop losses?

[DimPrawn]

It amazes me people with so little knowledge of this field spout so many 'absolute truths'

@Dim - do you get to choose what % of your account gets risked on each trade and how to they do stop losses?

Not each trade, it's a global setting but you can change it at any time. Don't know what the stop losses are (apart from some very big ones), I suspect the stop losses are managed without actually setting them in the trade.

Only one way to find out and that's see how it plays out. There's always bankruptcy as a backup.

[Jog On]

Not each trade, it's a global setting but you can change it at any time. Don't know what the stop losses are (apart from some very big ones), I suspect the stop losses are managed without actually setting them in the trade.

Only one way to find out and that's see how it plays out. There's always bankruptcy as a backup.

So you can set it to only risk 1-2% of the account on each trade? - very cool

[Dearnla]

Good for you! I bet the long winter nights just fly by thinking of how much your £20 in the building society will be worth when you retire, aged 85.

We're obviously at diametrically opposed ends of the risk spectrum, then?

[AtW]

It amazes me people with so little knowledge of this field spout so many 'absolute truths'

The truth is that in a long run only casinos are the winners in a long run.

[DimPrawn]

The truth is that in a long run only casinos are the winners in a long run.

With the money I make I'm buying shares in spreadbetting companies, bookies and casinos.

[AtW]

With the money I make I'm buying shares in spreadbetting companies, bookies and casinos.

Then your insanity is complete.

[Jog On]

The truth is that in a long run only casinos are the winners in a long run.