riddick09 Posted February 2, 2013 Share Posted February 2, 2013 Always use the money or profits we've made in trading in the right purpose. If our plan is to have better trading or to accumulate more investment funds then, we need to save some funds and therefore, we should learn how to manage the profits also. It's not like we just spend it all and then, we will not going to have learn the money management at all. Quote Link to comment Share on other sites More sharing options...
pepy Posted February 2, 2013 Share Posted February 2, 2013 Always use the money or profits we've made in trading in the right purpose. If our plan is to have better trading or to accumulate more investment funds then, we need to save some funds and therefore, we should learn how to manage the profits also. It's not like we just spend it all and then, we will not going to have learn the money management at all. exactly like that, now i try as the best as i can to manage the profit from forex, i have few formula after do some chit chat with pro through YM, 50% reinvested while 50% go to bank account for our living or for what we want to spend like invest in other program or whatever. spend all profits for something that is not important is a big mistake Quote Link to comment Share on other sites More sharing options...
PROPENSITY100 Posted February 2, 2013 Share Posted February 2, 2013 Withdrawing and depositing funds is very routine task in Forex trading. However I consider that we should periodically withdraw our profits from the Forex site because it is only after withdrawal of the profit that it is exploited to our benefit and we can use it as planned. Quote Link to comment Share on other sites More sharing options...
budado Posted February 3, 2013 Share Posted February 3, 2013 How about opening multiple accounts and try to do experiements. for example if you have eight accounts. Try to make your one account a weekly withdrawal account. Then the other account a monthly withdrawal account and the third account every two months and then so on and so on. In this way you will a weekly earning account and monthly earning account and so on. So just imagine if you have eight accounts and on the eight months you cashout in all eight account. I'm sure your earning is huge. Quote Link to comment Share on other sites More sharing options...
chintu Posted February 3, 2013 Share Posted February 3, 2013 Actually opening multiple account is not a correct way to make us of that profits . Opening multiple accounts can be good by it will be difficult to trade with different account at the same time so traders may be feeling bit difficulty . And if you think that you can manage then opening multiple trading accounts will be really benefited . Quote Link to comment Share on other sites More sharing options...
riddick09 Posted February 3, 2013 Share Posted February 3, 2013 It will depends on how you will handle those. Because, there are traders who are comfortable and making better profits in using different trading accounts while others they can't handle and just made losses most of the time. It's also different if we have the different trading accounts, in the trading account with simultaneous trades. Profits we've made will definitely our choice where we will going to use it. Quote Link to comment Share on other sites More sharing options...
pepy Posted February 3, 2013 Share Posted February 3, 2013 not everyone can handle to have many accounts, if that question adressed to me then i will disagree becuase i am still not a good trader yet, with only one account it is quite hard for me to manage it and with some losses thati get in my past trading, but that is depend on the trader if they can manage it i think that is good for them Quote Link to comment Share on other sites More sharing options...
Syrine22 Posted February 4, 2013 Share Posted February 4, 2013 We dont expect any individual that his or her losses is more than his profit to put his funds back into forex.The individual to me should be withdrawing it but saving profits or putting it back to trading is mainly or majorly for guys doing well in trading. Quote Link to comment Share on other sites More sharing options...
pepy Posted February 5, 2013 Share Posted February 5, 2013 Withdrawing and depositing funds is very routine task in Forex trading. However I consider that we should periodically withdraw our profits from the Forex site because it is only after withdrawal of the profit that it is exploited to our benefit and we can use it as planned. i withdraw periodically is a good thing to do for traders, because it will make sure they will get their bucks here and also it will minimize the risk that happened later if they do compound, even i think for some trader who already in profit must be choose to do compound because that will help them to earn more. Quote Link to comment Share on other sites More sharing options...
budado Posted February 5, 2013 Share Posted February 5, 2013 @trickster And what period is that? Is that daily? weekly? monthly? or Yearly? Me right now once I have more than 30 dollars earning in one of my accounts I automatically try to withdraw my earnings. For me this is the best way to make money in forex trading. But withdrawing when I'm making profit. Because I'm afraid that my earning is going to turn to zero and worse got MC if I make a wrong move. So its better to cashout right away. Quote Link to comment Share on other sites More sharing options...
Syrine22 Posted February 6, 2013 Share Posted February 6, 2013 I think consequent withdrawal wouldn't be okay but we accumulating it before withdrawing it wouldn't be a bad idea but yet we should be knowing that if we are doing well in forex we should endeavour to put some back so that we could be earning more. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted February 8, 2013 Share Posted February 8, 2013 No, technically there will be chance you will going to have lose all of your capital in your trading account if you fail to do trading properly. So, it's still safer to have withdraw the profits every time you gained it and just keep your trading strategy the same, and still trade on the initial investment. So, the profits you've withdrawn can be now used for creating a new trading account. Quote Link to comment Share on other sites More sharing options...
PROPENSITY100 Posted February 8, 2013 Share Posted February 8, 2013 we should periodically withdraw our profits and also invest some part of it in safer investment opportunities like insurance or bank deposits. Though here the returns are less but these are also very helpful and never let us to become insolvent. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted February 9, 2013 Share Posted February 9, 2013 It's always the best we can do as a trader. It's going to useless and hopeless if we are going to have only use of the profits without having any savings. So, when the time comes, we lose our trading accounts and then, we don't have any means to trade because, we don't have investment capital or back up funds for the losing trades we've experienced. Quote Link to comment Share on other sites More sharing options...
PROPENSITY100 Posted February 9, 2013 Share Posted February 9, 2013 learning money management is essential in forex business and also everywhere else. We should diverisy our investments and invest a part of the profts in safer instruments like bank deposits, insurance etc Quote Link to comment Share on other sites More sharing options...
pepy Posted February 11, 2013 Share Posted February 11, 2013 It's always the best we can do as a trader. It's going to useless and hopeless if we are going to have only use of the profits without having any savings. So, when the time comes, we lose our trading accounts and then, we don't have any means to trade because, we don't have investment capital or back up funds for the losing trades we've experienced. i think that is right, as trader we need some savings too if i already have enough capital to trade then i will withdraw it periodically to my bank account and then save it or just spend it for something that important for like for living expenses, about backup i already included that thing in my capital of trade so that is usually my capital is quite higher a bit Quote Link to comment Share on other sites More sharing options...
riddick09 Posted February 17, 2013 Share Posted February 17, 2013 Savings is actually part of our risk management. We don't want to lose everything or just spend all of our profits without considering the future of our trading. So, once we have loss we still can get back immediately in Forex trading. And it's too risky that we will have no other option but to either loan or wait for some forums to have bonuses again. Quote Link to comment Share on other sites More sharing options...
pepy Posted February 18, 2013 Share Posted February 18, 2013 i think that is as backup for our own investment in forex too. with savings we can make sure at least if there is something happened with our trading then we can start over again or at least cover some loss from our previous trading activity, but from what i see some traders prefer to spend their profits for their own living Quote Link to comment Share on other sites More sharing options...
gaban Posted February 19, 2013 Share Posted February 19, 2013 I use profit that i've get from trading to fulfill my daily needs. I don't compound it because i have get bonus post to increase my balance for trading with instaforex. Quote Link to comment Share on other sites More sharing options...
pepy Posted February 19, 2013 Share Posted February 19, 2013 that is a good strategy, and that is the same thing that i did right now, since forex forum give me bonus for trade then i won't have much problems with capital and so far my capital still fine even my trading activity is not good in this weeks, but my previous profit can cover that all. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted March 5, 2013 Share Posted March 5, 2013 It's better to assume that we need to fill our selves with happiness and enjoyment to boost our confidence and motivation in Forex. We should really think as well of having some capital left for our back up in order to not totally just loser in that time. We should have done it in order to not have stop or lose our interest in trading. Quote Link to comment Share on other sites More sharing options...
monyitomon Posted March 6, 2013 Share Posted March 6, 2013 Which means it's just better to save some percentage of our profits than spending all of your profits because in times that you lose in Forex trading and you have no money to feel good about then it's quite frustrating, that's why a good money management is really requires because everyday is not a winning day. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted March 9, 2013 Share Posted March 9, 2013 Exactly. It's not like we need to spend everything we've made to our expenses. We know budgeting and therefore we should apply it to save funds for our trading. Not only to not have funds but also to not able to trade and miss chances to make profits and time wasted. Although, if there's no choice we might practice for the meantime. Quote Link to comment Share on other sites More sharing options...
pepy Posted March 11, 2013 Share Posted March 11, 2013 i think not to spend all profit is a good thing but for me it is up to the condition if i still have enough capital plus some backup for my own trading then i won't have much problem to spend all of my profits that i get to something that i really want, but for now i keep compounding especially lately i have some problem with my account Quote Link to comment Share on other sites More sharing options...
indieover Posted March 12, 2013 Share Posted March 12, 2013 Indeed you should not spend all your profits. You must leave some amount in your forex trading account so that you would be able to have bigger amount of capital. so you have a better chances of getting more profit next time. That's what I'm planning to do in case I'm going to make some profit Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.