Q&A: How much trader lost in Forex before they start profiting?

by David Jenyns on March 4, 2012

Question by derico: How much trader lost in Forex before they start profiting?
I heard a lot of people said 90% of forex trader lose money. I wonder how long and roughtly how much the trader lose become they become the remaining 10% winners.

Best answer:

Answer by Dye dirt Kong
I think you are experienced the valuable hearsay in the stock market of Forex trading scams. Hong Kong is notoriously known as the international capital of scams in stock market shares trading and real estate transactions. Hong Kong is ruled by a fascist government and lead by the good for nothing Donald Tsang Yum-kuen and his investment think tank, Joseph Yam. Both of them are money takers and perverted Hong Kong citizens addictive to gambling then the government collects average 3 billion dollars duty tax each trading day in stock market trading, horse racing and soccer games wagering, real estate transaction, and Lotto 649.
The following website shows many facts about Forex trading scams in Hong Kong.
http://search.yahoo.com/search?p=Scams%20in%20Forex%20trading%20in%20Hong%20Kong

Know better? Leave your own answer in the comments!

James K March 4, 2012 at 11:28 am

To be honest – you’ve got to expect to lose at least some money.

It’s a glorified version of gambling – where you’re betting on the currency you’re buying to rise in price.

The best way to *not* lose money is to use the systems and techniques that already successful traders are using. And the best way to do that is to use a forex system that they’ve created.

I personally use “Forex Autopilot” by Marcus Leary because it seemed to be the most reliable to me. I found it at this website: http://www.fxsystemscompared.com/rev_forex_autopilot.html

Hope this helps you?

patrickxd March 4, 2012 at 12:08 pm

thats because 90% of them dont ask for help.

Take a look at forex tracer here:
http://forex.lem4.com

Good luck!

jsforex.blogspot.com March 4, 2012 at 12:57 pm

How much you lose, and how soon you start making money is entirely up to you.

The average learning curve to learn how to profitably trade forex (or any other market) is about 24 months. What you want is to get from day one to the time you are consistently making money with the least loss possible. Here’s how you do it.

– First open a demo trading account with http://fxtrade.oanda.com
– trade that demo account until you know and understand when to trade and when not to trade. That defines your trading method.
– Trade some more and fine tune your trading method.
– when you can trade your demo account and be profitable three months in a row, then open a live trading account with OANDA with only ten dollars ($ 10).
– with this live $ 10 trading account, set your leverage to 10:1 and trade only with 1 unit, and not the minimum one lot.
– trade this live account with your trading method and fine tune your trading method some more.
– when you are able to trade your live account and show profits three months in a row, then add more funds to your account.

Let’s do the numbers. Assuming you are such a newbie that you will bust your account each month during the first six months of trading. With $ 10 at 10:1 leverage, and trading only 1 unit each trade, at the end of your first six months, you would have lost only $ 60. Consider that as tuition fee to learn how to trade. During your first six months of losing trades, I am sure you would have gained a lot of insights on how to be a better trader.

If you applied what you have learned recently, in the next six months of your trading, you will be breaking even, and may even start showing profits.

The reason the majority are losing money trading is that they focus more on entry–when to buy and when to sell. The best traders you will meet will tell you that it’s how you close a trade that counts.

While you are working to get past this learning curve, learn everything there is to know about trading.

Hope my input helps & Good luck!
http://jsforex.blogspot.com
Managed Accounts in Forex Trading

Osama S March 4, 2012 at 1:15 pm

most of ppl enter forex market to get a luxury lifestyle regardless of how much they can loss,they just look at the millions they can make out of this market.
How to Lose ? what to Lose ? you can make 100 trades/month , 50 winners and 50 losers and you are still in profit.

Main forex rule #1 , #2, #3 is profit:loss ratio in any trade , u gotta keep it more than 1 !!!!

Greedy people lose in any branch of trading !
just try to get little profit and you will be safe.

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