Beginner Luck

Discussion in 'Forex' started by nycderivtrader, Aug 21, 2003.

  1. I have started trading on the oanda simulator and after having some difficulty, have started to make some money (fake money) off forex. I have been entering into large EUR/USD contracts, looking to get 3-8 pips per trade.

    Tonight I have placed 8 trades, with gains of:
    8 pips
    3 pips
    -2 pips
    5 pips
    4 pips
    4 pips
    0 pips
    3 pips

    And my record so far for today is up 2.465%

    I haven't been a fan at all of TA, and just go with short term gut feel, trying to play the upward and downward movement- I am sure this is not always going to be as successful as tonight.

  2. Do you believe you can make money in the market based on your gut feeling?????
  3. izeickl


    I played by gut feel for my first two weeks when I started too, was up 10K, by third week I was down 30k (demo account), heh I thought I couldnt lose! :eek:
  4. Stupid question...

    "Beginners are suckers" Luck...

    Admitting... you'll lose in the long run...
  5. My first day daytrading SP I made £860 ($1200ish).
    My next day, I made £650 ($1000ish).
    1+ year later, my performance has NOT lived up to its initial promise.

    I don't know whether you've been lucky or skillful - but if you have to ask then it's probably luck. Be careful.
  6. Making money is not having a few "lucky" good days/trades, but in consistancy overtime. After all if you enter the market randomly with no stops, you have a 50% chance of ending up postive after X amount of time - But if you think it's nearly as simple, you are gravely mistaken.

    TM Trader
  7. cable


    OH MY GOD! You seem to have stumbled upon the ancient secret of $$$mrmarket$$$ !!
  8. I play forex with real money with Saxo Bank trading platform.
    I am from Greece and saxobank has headquarters in Denmark.

    I've lost in Monday 7.000 US$ with OTC options and leveraged positions on eur/US$. I've made 3.000.000 - 3.500.000 US$ transactions in one day.

    GO AWAY if you are amateur with currencies trading.

    In simulation it's easy but in real life with real money money, real positions, real risks, real margin calls on accounts the things are different.

    Truly yours
    Ilias panagiotidis
    Athens, Greece
  9. If you placed 8 trades in one night trading forex you are trading WAY too much. Forex is about longer term trends. You will lose the more you trade. Personally I use 4 hour chart with stochastics.
  10. I know a very serious trader who is testing radom entry systems for a long time now. There are a few interesting and surprising results... You won't find me trading any of those systems though.
    #10     Aug 22, 2003