Your Questions About Forex Trading Strategies

Sharon asks…

Trading forex strategy not using stop loss?

what is the flaw in not using stop losses but instead risking only two percent of your account everytime ina trade and wait for it to eventually be profitable? (what are the chances that you get margin called when you put ina 1000 dollar trade with a 50 000 account?)

kenspong answers:

Whatever your system of entry and exit, there are four sorts of results:
– Small wins
– Small losses
– Big wins
– Big losses

As winning or losing is essentially random, the only way a system can be profitable, is by cutting the big losses before they become big. That is why you need a stop loss.

Your question about the margin call is impossible to answer, without knowing your leverage.

Ruth asks…

I want to learn the basics of forex trading?

what is a simple online free demo. I’ve tried, and I couldn’t understand anything on the site. I just want a simple one to learn the different aspects of currency trading. Please no winning strategies. I’m not interested in learning how to make money, just learning the basics.

kenspong answers:

Why don’t you try and
Both websites teach the basics.
You can also search for “Forex articles” on google or yahoo.

Betty asks…

Could this plan make me a millionaire by trading forex?

I am going to be 18 in 17 days and I have a practice forex trading account that my brothers set me up with FX Express a few months ago. I have discovered that by using 1:100 leverage and setting the recommended stop-losses are too low and I think its the worst way to go about trading forex for me. I even think that setting the recommended stop-losses is too low anyway.

What I have been doing however is to set my leverage to 1:25, and my stop-losses to the value of all my trading capital, and if neccessary, more than my investment, but I don’t need to do that yet anyway, and its been working out everytime I trade forex at me gaining 10%+ everytime I place a trade. Also its always been done on my favourite currency pair; GBP/USD.

What I’d like to know is if I continue to follow my rules and keep up with my self-made forex trading strategy and style, could I become a millionaire if I keep on winning like this with real money?

kenspong answers:

Ok disregard the last post but i do think your trading strategy will lead you to whip out your account its dangerous to trade that way but do agree that the recommended stop losses are to low especially if you dont have much money now im not sure how long you been on your demo account i do belive you need to stay on your demo a bit longer until you learn to trade a system that fit you and your personality trade as if you had real money on the line and until you can trade without temptation,greed and have counted out your account killing move your not ready but keep at any has nothing to do with your age a lot of “pros ” still dont know how to trade successfully but keep in mind your goal shouldn’t to be a millionaire but to master a system and not lose make pips remove all thought of getting rich quick those thats will hold you back but it will happen in no time before you know it,,,, may the pips be with you

Helen asks…

I lost a lot of money trading forex online. Anyone knows any strategies?

kenspong answers:

Oh Boy !

There is no way you can recover that money.


Ken asks…

What is your winning strategy to win money in equities, forex, property trading?

I know i am a bit blunt but please tell some. What is your winning strategy to win money in equities, forex, property trading? I need to win some money. Sharing is caring. If i win some, you probably win some too. Win-Win situation. Thanks.

kenspong answers:

Try this stategy.

If anything, it may get you started on how to make a profitable strategy of your own.

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