Hi Everyone

Discussion in 'Newbie Questions' started by LaurenGifford1, Dec 4, 2013.

  1. LaurenGifford1

    LaurenGifford1 Trader

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    Hi all,

    I recently learnt forex despite my age, it is definently something I see as acting as a secondary income, although my husband gets quite upset as I profit more than he does :) I suppose it's the disipline lol.

    A few questions for the forex community, I personally use a cross over in moving averages (100 and 200) on a long term period using the 4hr or daily chart, do you think something so simple can generate profit in a live account? This is a very long term investment, thoughts?

    Thanks guys, hoping to hear from you
     
  2. Enivid

    Enivid Administrator Staff Member

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    Welcome, Lauren!

    It is never too late to learn Forex. As for your strategy, I guess it is easy to backtest it using our Adjustable MA expert advisor.
     
  3. Fxpipper

    Fxpipper Master Trader

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    Hi Lauren,
    Welcome and yeah, this forum is chock full of all the tips you need and as regards your query, would suggest you follow enivid's advice..
     
  4. com37

    com37 Trader

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    I wish I could earn some money from Fx as you lauren..
    You rock!
     
  5. Fxpipper

    Fxpipper Master Trader

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    LOL, very few traders make any profit when they start..but in time, with proper discipline and adequate risk management, you should get there, so don't lose hope.
     
  6. Emibluz

    Emibluz Banned

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    You said you are making progress with a demo account. Well, the answer to your question depends on: If you you are willing to control your emotions and be disciplined when you go live. So, yes, a simple strategy can make you consistent profit. This also depends on the broker. Choose your broker wisely. Do not go for market makers or big regulated brokers who careless about traders success. Avoid brokers that frown at your profits..
     
  7. globalfx

    globalfx Trader

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    Every new trader should not spend too much time with a demo account. Going live as soon as possible would be more helpful than Demo.
     
  8. Fxpipper

    Fxpipper Master Trader

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    Agreed on the "not spending too much time on the demo". I guess if I were to select a analogy, it is like trying to ride a bike for the first time with the training wheel..you are really not going to learn much until you lose that third wheel. Simply put, once you have worked out what goes where, move on from demo to a live mini or micro..good luck.
     
  9. Gino

    Gino Trader

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    Nice going Lauren :D

    And as Admin says, backtesting is the way to go.
     

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