I don’t know if you diversify but I believe it takes intrepid people to invest a couple thousands in a single High Yield Investment Program. What about the FOREX market ? That’s what I wanted to discuss with you today. Maybe you gained some experience in this field already ?
Honestly, I’m still not confident enough to open a real-money account online with a FOREX broker . When I’ll have enough experience and knowledge, rest assured that I’ll host the privateforexblog.com to share how I work my first 10,000$
Prior to that, I might well consider Trend Trimmer trading robot with a live account. Maybe not. It’s just that I’m following this opportunity since 2 years already . Month after month, veteran members of our community keep renewing their subscription. I guess Trend Trimmer really works, right guys ? Everyone here will enjoy your feedbacks , me first !
But that’s not really the point for today.
FOREX or HYIPs ?
As an active subscriber of The Private HYIP Blog, you might have noticed that I’m the conservative kind. I only involve small amounts of money and I jump only in the ventures I find particularly promising for a profit. S0 far so good you’ll agree if you’ve been following my moves closely. Anyway, time showed me that schemes starting to pay selectively never hit smaller investors first. The good thing about trading FOREX ?
You can manage your funds all the way. Even with a tool like Trend Trimmer, you’ll decide the level of risk you can afford and direct the strategy. Your money will not be in the hands of somebody else. Compared to HYIPs ? People can trade FOREX for a living. Again in my opinion, these guys take risks I wouldn’t be comfortable with at the moment. I prefer the economical peace of mind of more stable professions and business sectors to support the lifestyle of my family ; Engineering for example.
A lot of people here dream to become financially independent with HYIPs . I say this is a big, big mistake. Investing everything required in your education should be your top priority. Of course that means making sacrifices . You do what you want. I didn’t want to turn the knife in the wound if you don’t have access to higher education in your country. On the other hand, so many people in the world don’t realise their luck !
Tips for FOREX newbies
I thought it would be more interesting if you could post something like a testimonial or a short commend to help others out. We all want to know how you started your FOREX journey . Maybe you have some tips for newbies? I’ll go first :
It’s really harder than it looks to earn a sustainable income from FOREX transactions. You’ll need to spend time and efforts. Sure you can earn an income from home out of it. Just don’t rush your money in without learning. Why not a demo account to start with ?
And be careful with representatives and advertisers. They’ll paint the life of FOREX traders like a relaxing day at the beach with a couple glasses of rum. Others will recognize the high level of risk while playing with the greedy you. Others are pure scammers. Just watch your steps to grab the honest guys.
To conclude, you can expect more FOREX discussions during the coming weeks. The goal is to minimize the level of risk our money runs by educating ourselves. Again, we’re stronger together and really, our community abound with experienced players.
Up next ? JSS Tripler and the current situation .
Frank
Posted in 
Tags: 
Hey guys!
Forex itself is not risky. Every trader manages the risk himself. If a trader overleverages his account, it becomes risky. Thats it. Forex traders say that money management is one of the most important ingredients in FX trading. Also, you always need to precalculate the risk while trading. Do not think that everyone can do it. It is hard work every single day. Market changes all the time so your strategy might not work the same from month to month. In April 2012 the market was in consolidation so many traders were loosing their minds trying to make some money. It just wasnt moving and if it is like that, it is really hard to get out pips. But again, it depends on your strategy.
In my opinion everyone should start on real account not demo. It can be a small amount of 100$. Even if it is 10$ it is completely different than a 10000$ demo account. On demo you do not really care about the imaginary money, you can always add more but if it is your money the psychology changes even if it is just 10$. Forex can provide you with a nice income but you will need quite a bit of time to become profitable on a regular basis. Do not fool yourselves about getting rich over night. Even the best FX traders have loosing trades and are not profitable all the time.
Very interesting Pipper, we are both on the same wave lenght. Just like that, can you tell us the average number of hours FX traders spend on a weekly basis ? Are you doing it as a part-time income?
I am trading part time and I spend about 30h per week for analysis and trading itself. I have been profitable for some time but the profits are small and I still need to learn a lot. I do not risk much, only 1% per trade maximum. I have been positive 3 months this year. April was 0 and in January I didnt trade. I know some people make good money from it and I hope to become one of them.
very interesting stuff, It is really usefull to me, thanks for giving good advice.
i have been trading forex since 2005, not long or experienced enough but i think i’ve managed to trading properly. I am HYIPing to diversify some of my capital, and absolutely still keeping forex as my main focus. When i looked for some reading materials of HYIP,i found this superb blog.
BTW, trading forex is as lucrative as HYIPing, plus a good side: you control your own risk. There is three aspect we have to build to become a good forex trader: capital, tehnical, and the most important, mental (psycological). The last aspect is the most hard to be trained. You can get big profit with a good tehnical skills, but you’ll get consistent profit with a decent mental skills. I know some friend of friend of mine who has gaining financial freedom by trading forex consistently, and all of them said the same thing, mental aspect is the key. You can have big capital with great trading tehnique, but without a proper money management and emotion management, you’ll get nothing except pain.
And last but not least, lost of opportunity is way much better than lost of capital, so we should learn enough just to earn enough (money).
Regards,
Thanks for the support Dimas. So you’re trading FOREX for a living ?
Not yet Frank, as now i have obligation to be a civil servant due to my scholarship. My earning from fx is almost as much as my earning from my main job. and i am planning to be full day trader in about 5 or 6 years from now. in the meantime, i’ll building my capital and shaping my tehnical.
**Disclaimer: Trading fx is not suitable for everyone, just like HYPing.**
Hello guys!
Forex can be really profitable if you know what you are doing. I have been investing with a manager/trader and the results are fantastic. I do not want to risk too much so I do not get 30% per month but I am satisfied with 10% on a regular basis. I think it is best if you give your money to a manager who knows what he is doing, you just have to find one. I tried trading myself but dont really have the time to learn. I have lost an account in 1 month and decided it is best to just leave the trading to someone who knows what he is doing.
Problem with managed FOREX account : how do you verify the quality, efficiency and honesty of the manager?
Always use managed accounts where the trader only earns if he makes profit. Also he should be able to proof his ability to do profitable trading.
Hey Frank!
There is a technology which is called PAMM. Your money is always in your account and the manager doesnt have access to it. He is only trading your money and gets his commission only if he is profitable. Now, you can verify his profitability by asking his detailed trading statement. Good thing is that my manager is trading on mt4 platform so I can follow his trading all the time directly on my account. If the results are good and the manager has a PAMM account to sign up under, then you are safe because it is not up to the manager weather you will get the earnings or not and he can not affect the withdrawals/deposits to from/to your account. You are basically safe regarding your account safety. It is also managers goal to be profitable because if he is not, he doesnt get a cent. As for trading itself, it brings some risk but every investment does. I am satisfied with my results and will invest a much larger amount soon. I have checked all there is to know about managed accounts and the most important thing is your managers performance because if he has a PAMM account, your money is safe and the manager can not touch it.
Yeah I also worked with PAMM Accounts a lot in the past. If you are able to find the right trader this is a great way of investing money.
Hi, in my country forex is tagged as the worst biz for the ordinary man. This perception scares me away from forex trading and because all the news we have been feeding with is how risky is forex, that even drove me away totally. But I am a dynamic fellow, I like change and I wouldn’t mind if I can be trained by anybody. Thanks frank.
It’s true that you need to know the machine before risking any money in FOREX. There’s no point to rush your $$$ blindly.
This is the Blind man dropping in again.
And speaking of blind, did any of you “see” the fantastic reference to PrivateHyipBlog in the SilverStructure newsletter?
Out of the three or four monitoring and money-hyip related organizations referred to, PrivateHyipBlog is referred to as having Silverstructure in its top ten.
Just wanted to say Congrats, Frank!
Good day Tony ! I also noticed that Silver Structure proudly mentionned that they are in my top 10 HYIP. And here goes the everlasting dilemma I have : should I share my top 10 and my HYIP selection ? If I do my blog becomes an advertising pit for my best performers, which is not my intention. If I don’t, I will not satisfy my readers’ curiosity. Indeed, a lot of people want to know where I risk my money. By the way, several people and I are in profit in Silver Structure so I think it deserves its place.
What is your top 10 HYIP Tony?
Just keep it real, Frank, and you will be alright.
Greetings everyone,
Life in Forex has no difference in the stock market. It may seems to be like the next world legendary liquidity market but pops like the economic bubble burst the next very dearest moment. Forex is not suitable for many, not limited to age or income gained, as leverage kills many. I do have experience in Trend Trimmer but do not dare to promise big, just a minor bit.
Anyone needs/requests for more detailed information, kindly specify what type of information you require.
Thanks and To Our Success,
Ken
Frank, you might consider PAMM Forex account.
You can build up /diversify a portfolio of PAMM traders you most confident with,
with good historical record.
Some online brokers (instaforex for example) have PAMMs.
Some even accept LibertyReserver to fund the account
I’ve never tried Trend Trimmer, but have some experience in Zulu Trade. It’s not as easy as it seems (well it’s not easy to gain some money if you don’t have some experience in managing risks as you have to set correctly some parameters), but the best part of it is that the emotional part is almost removed from trading.
I agree with the above posts. Technical analysis can be learnt quite easily, it’s the mental part that it’s harder.
I myself have to fight back with overconservative reactions at every trade: I tend to close every single trade as soon as I have a little profit… this leads to a good 90% of positive trades with ridiculously low profit, and a 10% of negative trades with losses as big as the predetermined stop-loss.
A little advice for the beginners: always trade with a long term perspective. Do not start with day trading or (even worse) scalping, as it will break your nerves. Start long term, when you will feel comfortable with winnings and loosings on a weekly time lenght, then you can try to shorten the lenght of the trades.
Hi,
it was my Birthday yesterday, so I was not online to answer you..here it is….;)
I know company who is trading every day, pros.. 50.000-100.000 euros
Have friend who is living only for Forex, on long term he is making money, when he is losing, he is frustrated all day
So before you want to start trading, you have to do research, do some basic education and ofcourse start with demo account first. And what is important too, is that you choose what platform will you use and what they will offer you as newbie or professional trader…support, personal manager account, bonuses,..
I have been searching for long time for that..so finally I can offer my customers something really good, all in one package with free 10.000 USD demo account, free registration, no hidden fees and the most important thing, free education and something special, what nobody else have, you can go in your back office and see what best world traders are doing -LIVE ! You just copy from them in a second and make money
This is something amazing.. Every investment is risky, do not invest money you don´t have ! I used to use HYIPs but on long term or short term, usually they dissapear over night with our money, that is my experience..
Have a great weekend
p.s. going to Thailand on 29th May for a month with my family, trip is payed from online investments
Please send me more info on your investments that you yourself invest in.
Thank you!!
Conrad Wrencher
I saw an hyip version (my conclusion) of forex recently, it was advertised on gmail page.
it however claims does not claim to be an hyip, in existence for over 3years and offering a guaranteed “fixed” return on Invested capital. $100 minimum deposit with up to 30% profit in 30days or 110% profit in 75days (depending on your compounding option). it’s http://www.fintimeinvest.com … check it out guys and lets have your opinion
It is definetely a HYIP. No FX management company will guarantee you profits or even worse, guarantee you exact profits. It is just another scam so do not fall for it.
-1′
Most of my trade is losing lol. Anyway how pamm work?ask someone to trade? Do we need pay fee for it?the trader earn by % or pips?
BRAZIL
Hello Frank, I really appreciate your blog. a year ago and I’m investing in PAMM accounts with EA TELETRADE INTAFOREX aui in Brazil. And I can tell you with great care and less greed and a good manager of managed accounts so we can get a result very positive and coupled with a good strategy that I learned from HYIPs, we atigir relative stability. a hug to all
Thanhs Frank
Glad to hear you’re earning an income out of FOREX Manoel. Indeed, this market is a lot more hard to benefit from than what most advertisers share. Thanks for sharing your experience!
Frank, what have you heard about Forex Robots? Some say they work, others say they don’t. Some websites rank the best performing by percentage of winning in profit trades. I’ve been tempted but never took the dive. I know you can’t just “set it and forget it” like some ads like to brag, but I wonder if you could increase your winning average by using a robot like FAP Turbo, Million Dollar Pips, etc? How about you do an article on it?
Indeed., that will be a very very interesting topics., since many forex robots are considered to be a scam, even if they are legit if they loose teh customers considered them as scam
Honestly, I’m still not confident enough to open a real-money account online with a FOREX broker . When I’ll have enough experience and knowledge, rest assured that I’ll host the privateforexblog.com to share how I work my first 10,000$…