Hello eveyone, I'm just started to trade forex with capital of $1000.00 I need advice from the expert how do you guys trade for living. How or when do you withdraw your money and how much you will withdraw. Thanks in advance. QS.
Every 2 weeks, I take 75% of my profits for that 2 weeks out of the trading account. The other 25% I leave in as a reward for successful trading. I believe in constantly removing money from your trading account. It reinforces the concreteness of the fact that you aare trading money, not just blips on a screen. If you take some of your profits and buy some nice income producing stocks, some nice B&H stocks, etc. you can have another steady income flow to rely on that grows over time.
Best of luck to you mate but straight away I see a poss problem and that is the size your starting capital. Your risk per trade is likely to be comparatively high and it wont take many loss trades (they happen to everyone) to wipe you out. Unless you intend to start really really small. Others might have some advice on this but position sizing is a very big part of any traders plan. Cheers Bogan7
Yes i do understand that. Actually this is my 3rd time open new account. Before i was poor in trading and im not a descpline trader. But now, i found the best strategy with take profit only 5-10 pips per day per currency. Which is i can double my account every month. I don;t scared to take a loss again because my strategy will always win 100%. What do you guys think? Thanks for your feedback.
wait a second... isn't this the moment where another guy, registered today, enters the picture and asks you about your strategy?
Why? you don't believe? Yess... sure win and guarantee win with only 5-10 pips only PER DAY! OddTrader, may i know how long you have been trading?