Here we go, here we go, here we go....

[fondofallthings]

Hi All,

So I am going to have a go at this. One thing I have learnt in my life is that if you are going to do anything, do it properly. This site looks like it contains quite a few people who have that ethos.

To start with, I am doing the Babypips,com course. Seems interesting and enjoyable. From there I will look at the education area on the forum.

I am looking at using forex.com with forex growth bot at the moment.

My goal is simple. A financial goal of $1000 a month from a starting bank of $500. I know that will take a lot of hard work and patience but that is where I want to be eventually

If I am in a dreamland let me know

Thanks to everybody who is involved with this forum. I really think this place may change my life.

Cheers

 

[Pharaoh]

Take it slow and easy. A goal of making $1k a month is reasonable, but not until you've built your account up to a significantly greater balance.

 

[fondofallthings]

Thanks Pharaoh

Yep plan to take a few years to get there. Really enjoying the lessons at babypips. I go through each one twice.

Playing with Forextrader a bit and focusing on USD/AUD. I want to just getting an intimate feel for one pair for awhile. Still feeling my way around it, but the demo really gives a great opportunity to learn. I think I will need about 3-4 months off demo work to feel comfortable.

As I said, this is something I really want to achieve so will be a lot of effort into it.

 

[mdenamul]

It is not a dreamland .It is real where you are allowed to achieve such a thing by which you can satisfy your mental demand.It is not impossible that anyone starts his business with $500 and earn above $1000 per month.So why we will not go , we must go and we must go......

 

[FringFX]

My goal is simple. A financial goal of $1000 a month from a starting bank of $500. I know that will take a lot of hard work and patience but that is where I want to be eventually

If I am in a dreamland let me know

is that a Forex EA/robot you are using?
be careful as I believe very few or no robot has been proven to stay consistently winning in the long run.

focus on performance, not on $. aim to get better first. the money will pile in next.

 

[FringFX]

It is not a dreamland .It is real where you are allowed to achieve such a thing by which you can satisfy your mental demand.It is not impossible that anyone starts his business with $500 and earn above $1000 per month.So why we will not go , we must go and we must go......

it is not impossible but for most traders, specially those starting out, it is improbable.

forex trading is a serious business. it is not a simple walk in the park.

 

[Pharaoh]

Yep plan to take a few years to get there. Really enjoying the lessons at babypips. I go through each one twice.

I did the same thing when I first started trading.

Now that you've done BabyPips, go ahead and check out Forex Military School and all the other free materials here at the FPA:

https://www.forexpeacearmy.com/fore...3950-guide-fpas-free-education-materials.html

 

[fondofallthings]

Pharaoh - Will do! The material looks great. Thanks for the link.

The first week of the demo has been very educational. Been using trailing stops with an EMA/SMA analysis. First week produced a 1.2% gain which pleased me though I did catch one large lucky break that got me that gain.
Cheers

 

[Pharaoh]

Good to hear. If you like MA crosses, your next goal should be to play with the settings (displaced MAs are fascinating). After that, try to establish one or two simple filters to warn you of potential bad trades.

 

[fondofallthings]

Thanks Pharaoh.

I read about Displaced MAs and they do indeed looking very interesting.