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The guy with the porsche make all of his money from selling 'educational material'/courses/chatrooms (rubbish) etc.
Just another rich vendor selling people dreams.
I thought it was too good to be true! (a genuinely consistently profitable successfull retail trader)
He owns Eezeetrader (program neglected to mention that! )
If he was genuinely recruited to work at a fund, I'm sure he some talent. What is stopping someone from making money with a side business while being a profitable trader?
I kind of felt bad ripping apart the forex market because I do have a sentimental appreciation for it since it's what I started with and I believe everyone should pursue their dreams even if it has to do with forex. So I'll add a little bit of wisdom that may not be entirely obvious that may help a newcomer.
The main advantage you get with forex is that you can add heavily onto winning positions and roll into massive profits even with a small account but you really have to manage your risk if the trade starts coming against you. My technique is to wait till I have enough profit in the trade so if I add on I can move my stop to break even and still have room for the trade to keep trending without coming back to my break-even stoploss. If you get stopped out on the initial entry without adding on the impact is so small that it isn't very stressful getting into trades. You can probe the market without always having to have the exact location because you can trade smaller and have a wider stop initially with micro-lots.
The forex market does have a lot of directional volatility to help with this technique but the only problem is that it may take a long time for the trades to come to fruition. A lot of times, since moves can happen pretty quickly, you'll need to monitor the trade during that duration. The trades may take a few hours or more since a lot of times the market moves slow before bursting.
I would suggest to anyone who is interested in forex to definitely practice taking advantage of averaging up. When I first started trading forex I practiced scaling out and was very concerned with indicators and always having to be right with my entry. I did hear about averaging up but I thought it was just a stupid idea and never really tried it out because I thought scaling out was better. I didn't know until I tried it out of desperation years later that it really makes a difference.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.