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Forex
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Affiliate marketing website
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One transcription account
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Youtubing (imenikalia though. don’t know what people want)
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Remote social media account manager
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Data entry jobs
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how much do you make from each ? are you comfortable ?.. give approx figures …
I would be willing to place a very big bet that you have a net loss from all your forex trading activities like 99.99% of forex traders.
Why are you always negative on forex, if you tried and failed that’s just you. There are people who have understand the act of trading and living of it. It takes years to master trading and how to trade without emotions. Many traders are trapped on emotions part even though they trade very well. Just like any other career trading is not for everyone.
I am a trader so it is within my wheelhouse. I have never met a forex trader with a positive P&L after a reasonable number of trades to say that it is statistically beyond luck. Most forex traders don’t do so for a living, they trade as a hobby because they aren’t consistently profitable anyway. Only a very small percentage of people trade forex profitably and consistently. The number of people that will be in profit after taking 100 trades (to eliminate luck) are extremely few and gifted e.g Charlie Burton. Most of these forex gurus you see are only teachers and not traders. They prey on people’s greed and charge for courses. Forex trading is full of fraudsters and you can take that to Stanchart and cash that cheque. I would never recommend anyone to trade forex for a living simply because odds are stacked against him in such a way that winning is a near impossibility in the long run e.g after 100 trades. Other asset classes like metals, commodities, equities and crypto are more volatile (hence no need for leverage) and more technically compliant. Also, the banks don’t take the other side of your trade so you have a better chance of winning consistently. If you want to make money in forex, and you aren’t among the top 1% pros, open a forex bureau at the mall, not a brokerage account. Hata hapa kenyatalk, only 1 in like 20 forex traders are consistently profitable and I am being very generous with that number.
If someone says that he/she is a forex trader, I will always take a bet that he/she is not profitable in the long run without hesitation. I will be right 19 out of 20 times.
So unasema one has a better chance betting on football than trading forex?
Statistically similar actually
Nipatie 20 forex traders hapa Kenyatalk. Lets audit their brokerage accounts for the last 100 trades. Only a few if any will be profitable after 100 trades (to eliminate luck). Hata hiyo 1 in 20 I am very very generous. It is a fool’s errand for most wannabe traders. The odds of being a successful forex trader using a brokerage account (not owning a bureau), are extremely low in the long run. That being said, betting on football is worse because your downside is uncontrolled i.e when you lose, you lose the entire sum. If I had to do one, I would choose forex because the odds of success are slightly higher. That doesn’t mean I endorse forex. I just think the odds of success in the long run are higher in forex than betting on football from a mathematical perspective.
My online portfolio
1.A 50 domain PBN network with killer metrics. Can rank anything .The goose that lays the golden egg
2.Classified
3.Highly classified
4. A very immoral but legal service
5.A very interesting service that would be replicated by Kenyan copycats if I revealed
No wonder there are so many ‘gurus’ online courses. If I had an edge, I’d exploit it to the max not sell it for 200 dollars.
Yaani wewe izi siku zote hutaki kunichanua Hustle? I would say it’s something betting related. Nichanue
Real professional traders don’t have time to teach. The main reason why Forex is a fool’s errand is because banks have crashed volatility. Imagine trading a currency pair with a volatility of 10% up or down in a year. The forex market is extremely schizophrenic unless you are looking at very large time frames (months or years). Bitcoin, for instance will move by 20% in a month. Meanwhile, EUROUSD has traded in a 10% range year to date. -4% to +6%. Trading is only a profitable business when there is volatility and forex is the least volatile asset class after fixed income as a whole which makes it among the hardest to trade. Traders make money from volatility. Forex has very low volatility. It is as simple as that.
what is you point/conclusion/parting shot? What do you want to tell me? to stop?
reveal number 2
I wont need to. You can check your last 100 trades, if you have them anyway, and decide for yourself whether it is worth the hustle. You might be among the very few pros. Know thyself.
Photoshop fail
If it has very low volatility as you say …then the risk of loss should also be quite low:rolleyes::rolleyes::rolleyes:???
Not really. What you say would be true if there was no leverage involved. Forex brokers offer 200:1 leverage. With high leverage they charge more fees. Higher fees means even slimmer chances of the retail guy making money in the long run. If a broker charges 0.1% transaction fee, and you use 100X leverage, that means your fees are actually 10% of your margin. Before the market moves, you are already behind by 10%!! Now, consider that the market is not that volatile anyway, and you will realize that the odds of you ever making money in forex are not zero, but close enough in the long term. The percentage fees increase by whatever factor you lever your allocation. If a broker charges 0.05% commission, and you use 100X leverage, that means your commission increases to 5% of your margin.
Read here how leverage affects transaction costs: How Leverage Affects Transaction Costs - BabyPips.com
I came to poop on this post.
Log into Etoro,assume you have no experience and launch copytrader.
Search for the best copytrader in the market option you’re trading…(Etheryum,bitcoin,bianary,oil gold etc)
Choose the best trader …copy his trades,reduce your
Reduce your pip margin…alafu kuja apa sema tena 99% of traders tena.
In 2018 George Soros made a prediction in politics that changed my trading for life…I made almost 2 premios.