Your Questions About Successful Trading

Lisa asks…

Can I become rich trading currency online? Is Forex Trading good for making money? Which currency pair’s good?

I think Forex trading allows you to make money every day every time from anywhere in the world. Can you make minimum $100 every day in Forex trading? What is the strategy for that? What indicators are to be used and how much reliable they are?

John answers:

Yes. You can become rich by trading Forex online. However it is very risky and first you must learn all the dangers in Forex Trading and also learn how to overcome losses. Anyone can win in Forex Trading but very few can survive because they learn how to prevent losses and overcome them if there are any. If you learn how to overcome losses without adding money from you pocket, you are a successful trader. It doesn’t matter whether you trade small amount or big amount. If you can continually win small profits and overcome all the losses without adding your money to it, you have learned the technique and it works for big amounts too. Therefore start from small amount and make it grow in to a big amount. Remember you have to learn it by yourself. You have to develop your own set of indicators to be used. You have to choose your own currency pair and you have to develop your own trading strategies. Nobody can learn Forex trading by spending thousands of dollars for a trading course or by using online strategies or by using trading robots. So Good Luck.

Richard asks…

I would like to be trained as a trader at a trading firm?

I would like to be trained, but not sure what are good trading firms in Northern California, or Southern. Anybody know any firms? If not how did you learn? Any books you recommend that can set me on the path?

John answers:

And how do you qualify?

What have you studied?

What have you actually done?

What is it specifally that you need help with?

If someone else is supposed to do all the work for you, what are you willing to pay?

Books
“Which Is Better, Buy-and-Hold or Market Timing?”

“Do You Have What It Takes to Be a Market Timer

The Beginner’s Bible in Technical Analysis is:
Edwards & McGee”Tech. Anal. Of Stock Trends”

Droke, ClifTechnical Analysis Simplified

Kahn, Michael N.Tech. Anal. Plain & Simple

Kamich, Bruce M.How Technical Analysis Works

Lefevre, Edwin – Reminiscences of a Stock Operator

Lofton, Todd – Getting Started in Futures

Lowenstein, RogerBuffet (Warren)-The Making of a Capitalist

O’Neil, William J.How to Make Money in Stocks

Oz, TonyHow to Make Money From Wall Street

Rotella, Robert P.Elements of Successful Trading, The

Schwager, JackStock Market Wizards

Schwager, Jack D.New Market Wizards

Sperandeo, VictorTrader Vic-Methods of a Wall Street Master

Wasendorf, RussellAll About Futures

Slutsky, Scot and Darrell JobmanComplete Guide to Electronic Futures Trading, The

Extraordinary Popular Delusions and the Madness of Crowds” by Charles Mackay

The Intelligent Investor, by Benjamin Graham

One Up on Wall Street, by Peter Lynch

Common Stocks, Uncommon Profits, by Philip A. Fisher

Stocks for the Long Run, by Jeremy Siegel

Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea

Trading for a Living, by Alexander Elder

From Riches to Rags, by I.C. Freeley

Charles asks…

Does life require for you to be a great actor in order to be successful ?

Do you think the most successful people are always the greatest actors ?
Thanks for your answers .

John answers:

No to both.
Successes come in many different forms. If money and fame
were the only measures of people’s success then actors
and actresses would be considered utter failures compared
to Bill Gates and other top Billionaires.
The fact that one completes a course; graduates from school;
earns a degree; land a job; earn a promotion; master a sport/
trade/hobby/skill; marries; parent children; keep their house/
lawn in order; etc., all are various measures of success and all are
very important to the individual.

Peace/Joy

Sharon asks…

How can I learn a trade or a skill in for cheap in Philadelphia?

It seems like I run into dead in job after dead in job. I want to learn a trade I think it would be the best thing for me. How can I learn a trade for cheap in Philadelphia

John answers:

There is no easy quick way to be successful other than pure luck. Go to college and get an MBA. Go to a NON profit school. For profit schools like ITT tech are completely useless in finding a job since employers really shun those kinds of schools.

Helen asks…

How do I make a Patch Trading Website?

I was wondering how could i make a website for people like me who want to patch trade but have no resources around them to do it. The website would be a place where people can become member and be able to post images and information about patches they are willing to trade. If someone finds a patch that they like, they would be able to see whose patch it is and be able to send them a message about their interest in their patch. Pretty much it is like a wall where people can post pics of their patches and other people to look at them. Please Help.

John answers:

You go to the book store or library and get a book on basic web design. When you are done reading it, you’ll have a much clearer idea of what technologies you want to include in your website. PHP is common, because of its versatility. You’ll need a database, MySQL is also a pretty common choice, because it is free and easy to use with front-ends like phpMyAdmin. Both of those have many books written on them, you should read a few.

Building a successful social site, like what you have asked for, is not simple. There are 2 ways of learning how to do it. The first is to go to school specifically to design websites. The second, which I outlined above, is to teach yourself. If you manage to do either, congratulate yourself. Building successful websites is a very rewarding thing to do.

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