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Knoxy · 21-03-2006, 01:54

Interesting thread. I'm a newbie but can see in trading forex you need to dream of making a living at it, its a strong driver to overcome the hurdles. Feel I'm close to doing this. After hitting my low point (lost nearly 50% in first 8 months), I've turned things around in 4 months. So from $13k in Nov my balance now $44k.

I trade 18 pairs, use 4h charts and only spend 1h per day reviewing trades. So far have only used 0.5 lots with maximum stops 150 pt (2 - 5% risk). Strike rate is 77%. If I can make over $7500 per month trading half lots risking less than 5%, its easy to see possibility of making $20k or more per month soon. I'm increasing now to full lots, will move on from there.

I know.... early days, will need to see if I can continue to exceed 1500 pt per month.

No-one will believe 238% profit in 4 months. Take 4h GBPJPY chart and add 25 period Hull Moving Average (HMA) with slope coloured for up and down. Add Stochastic Momentum Indicator (SMI) with settings 39,6,75 and signal line 15. See if the chart tells you anything!

21-03-2006, 01:54	#76
Knoxy level 1 Join Date: Jan 2006 Posts: 9 Downloads: 0 Uploads: 0 Rep Power: 0	Re: Can you really make a living from FX ? Interesting thread. I'm a newbie but can see in trading forex you need to dream of making a living at it, its a strong driver to overcome the hurdles. Feel I'm close to doing this. After hitting my low point (lost nearly 50% in first 8 months), I've turned things around in 4 months. So from $13k in Nov my balance now $44k. I trade 18 pairs, use 4h charts and only spend 1h per day reviewing trades. So far have only used 0.5 lots with maximum stops 150 pt (2 - 5% risk). Strike rate is 77%. If I can make over $7500 per month trading half lots risking less than 5%, its easy to see possibility of making $20k or more per month soon. I'm increasing now to full lots, will move on from there. I know.... early days, will need to see if I can continue to exceed 1500 pt per month. No-one will believe 238% profit in 4 months. Take 4h GBPJPY chart and add 25 period Hull Moving Average (HMA) with slope coloured for up and down. Add Stochastic Momentum Indicator (SMI) with settings 39,6,75 and signal line 15. See if the chart tells you anything!