/biz/ - Business & Finance

>>1126713
are you done sucking your own dick yet?

>>1126721
Always respect the G.O.A.T. You're talking to god.

So is what you do based simply on volatility or movements or do you actively bet against currencies due to national economic issues

>>1126713
that's nice. our computers havent seen a single losing day since december

>>1126741
100% based on technical analysis.

I have no clue what's happening in terms of economic or political issues since I'm just not interested in those subjects at all.

So to answer your question, yes, based on volatility/movements alone (I only trade one and the same pair by the way which is very volatile).

>>1126750
That's awesome. Are you guys doing algo trading?

I do everything manually. And yes, I'm kinda getting to the conclusion that to make real money trading you have to be right pretty much all the time, if not always. So I'm not actually surprised that you don't have a a single losing day since December, because I trade with that mentality that you should always win.

You don't need to hit always perfect entries, but you need at least get the "main direction" right, ideally 100% of the time.

So. Basically youre fundamentally gambling. Good luck bro. I'll stuck to buying and holding ETH

>>1126791
>buying eth isnt gambling
This is b8

>>1126791
I didn't hit a home run.

Instead a hit tens of singles to amount to that profit. I had plenty of chances to make a mistake and fail yet I didn't.

When you go all in in one trade and the price goes in your favor and you make a huge profit at once, that's gambling. So know the difference.

But I must agree that no matter how skilled you're, there's will always be a small part of trading that is still gambling. The more experience you have, the more you eliminate the gambling aspect of it.

By the way, good luck with the ETH.

>>1126713
How do you do it anon? I feel like I started the wrong path...

I've been trading FX now for 3 years. And although I've gotten better over time, this game is ridiculously hard and stressful. And I wish I had never started down this road now but I've invested too much time into it to switch boats now...

Last year I struggled to make a measly 80% return. This year's start has been poor, I'm only up 5% since the start of the year :(

My only consistent performer is my shitty trading robot (which will blow at some point, given by its design). My main accounts which I trade manually are not doing so well, although they are all profitable but not by much.

Any tips?

>>1126713
myfxbook/trade explorer or gtfo

nobody gives a shit about meme profits on a meme account if it's not consistent over a long period of time.

fx trading contest winners average 20000% over a one month period, 480% is babby tier for balls to the walls leverage.

>>1126758
So basically you use a magic crystal ball to see the future and pray for the best?

>>1126815
Its not gambling if you know about ETH.

If you know what Ethereum is, and you know what it's competitors in the market are, then it's a dead cert. Ive studies all cryptocurrencies in depth and know the market inside and out. Thats why all my money is on Ethereum.

As you can see I'm rewarded hadsomely with profits so far and will continue to be.

>>1127545
>the shitcoin market expert everyone
Kek

>>1126713
Hi OP. Hope you still check on this thread at some point. Few easy questions:
1. How long before you started making money consistently?
2. What time frame(s) do you use on your charts? How long do you hold your position on average?
3. Do you use many indicators or keep it simple with just a few?
4. Are you Austrader? (pic related)

>>1127369
OP here. (I'm typing from a public wifi, so I think my code/identifier/handle whatever it's called is gonna be different from yesterday)

There's not much I can say other than, keep trying until you get it. (If you don't give up before then). It ain't easy, we all know that.

It will depend of how unsatisfied you're, how ambitious you are, how persistent, resilient, etc.

Lot of trials and errors and lost money along the way. Depending of your personality, also lots of depression, self-hatred, anger, and stuff like that.

I think I'm being able to pull off returns like that because of mainly a few things.

1 - I absolutely love trading and Forex. As cliche as it sounds to quote Steve Jobs, I saw a video the other day of him saying something along this lines: It's very important that you're passionate about what you're doing, because if you're not, you're gonna give up when you fail / before you make it.

2 - Necessity. (The urgent need to make money really bad to be able to pay even for basic needs). If you're on a uncomfortable position, that helps to speed up the process of getting better at what you do.

3 - Being hard on myself, perfectionism, etc. Every time I lost or when I lose, I never ever blame the market or the game, or others. I just think that what I'm doing isn't good enough yet, and that I have to figure out a way to improve it.

So yeah, there isn't a quick tip I can give you, this is a personal journey.

If you're unsatisfied with your results, that's a sign that you have to change your trading.

>>1127534
I can't provide that right now but I intend to in the near future. I think you're right for asking that and I personally like transparency.

Just so you know, I have plans to even live stream my trading on youtube showing my desktop with mt4 open and broadcasting my face, while I talk to people on the chat.

If I ever do that, I'll post the link on /biz/ and other social media for people to join me.

>>1126713
OP, how do you know those 480% forex gains are not luck?

>>1128204
That's a good plan. People would pay some good money watching a successful trader/learning and copying trades in real-time

>>1127542
No. I have a strategy.

(If x, z and y happen, I'll buy. When the other way around, I'll sell)

I'm always following rules that I've created.

>>1127716

1. I've never claimed when I posted or in any of my replies that I'm a consistently profitable trader. (yet). Don't get me wrong, I haven't "made it" yet. It'll take at least another couple years before I can label myself "consistent profitable" to others while being honest and not lying. I'd call my current status as: "Beginning of showing some amazing profits more and more routinely as time progresses / with an amazing promising future trader". These type of returns that I wrote about it are becoming very common. Here to answer your question though: 2-3 years trading bitcoin (mostly fail and lost). Just under 1 year trading Forex (on the beginning stages of profitability). I no longer trade bitcoin.

2. 1min TF. It varies, from a few seconds to under 24hrs. Average, probably around 4hrs. I consider myself a scalper.

3. No indicators.

4. Is Austrader a person? Or someone who trades AUDUSD? I'm not him if that's the case. And here's something unique about me that you will be able to identify if I post here in the future, I only trade one pair exclusively, GBPJPY.

>>1128255

No indicators?

Do you just trade price action patterns?

>>1128255
How did you learn your craft? Any websites/books to check out as a beginner?

>>1128255
Thanks for the response. Do you have a day job or is forex your source of income?

>>1128212

That's a great question and I ask myself that very often.

Here's the problem with trading Forex (and I think in general I guess) is that you can win by accident for a period of time without knowing, and you were actually wrong all this time. And of course, you figure out your strategy were actually shit when you lose and it stops working what you were doing.

The way I evaluate if I could be in the middle of an accident, is by just seeing for how long is it working what I'm doing, and also how many trades I have won.

10, 20 winning trades in a row or 1 to 5 consecutively winning days, yes, that could be an accident and just a coincidence, it has already happened to me.

But when you got tens of trades, 30, 40, 50 + winning streak, profitable for weeks in a row, doing exactly the very same thing, THAT means you might actually have something special.

Here's another way to put it, luck and accidents doesn't last very long.

>>1128277

No indicators at all.

I trade patterns, but not the same common patterns that you see all over on investopedia, forex factory, babypips etc. The patterns that I trade I've found out by myself, it feels more like some detail that I spotted and that I'm exploiting. I've never seen written on the internet the way I'm trading, so I'm not really sure if there's anyone out there trading the same way I do. Sometimes I wonder that.

>>1126713
Im the same as you Op, i have found my own patterns and last week i turned 140 into 500 usd. It took alot of effort and alot of patience but it is doable.

>>1128316

That's great man. Thanks for the response. I trade your pair occasionally if the conditions are right.

Most likely you have honed in on technical patterns that uses common input criteria as other strategies that traders utilize and take action on. It all comes back to support and resistance. That said, great job.

>>1128283

By trading, lots of trading. Easily 12+ hours a day (not that I'm complaining, I actually have to control myself to not go over to 24hrs). But the more consistently profitable you become, the less you need to stay in front of the computer. I think the crazy grind / no sleep phase is just on the beginning when you're broke and desperately need to increase your capital and also the initial excitement.

In my case, it has always been with real money, I think the pain of failing and losing real cash helps you become a better trader. I've never demo.

I've never paid a dime for learning material, everything off the internet for free, from the same websites that you already know. The final solution crystal clear won't be there, but the base of it could be, so you can get something, transform it to your own way, and apply it. Then test it. If it fails, do everything over again with something either completely different or slightly modified from your previous creation. Do that "try and fail process" for hundreds of times (maybe thousands?) over and over.

>>1128293

Forex is my source of income, I don't do anything else. I'd say it would be impossible, I need to be there focused all the time.

I think it's very important to be sensitive and to be able to "catch things" live, and that can only happen when you're in front of the screen. When're you constantly following and watching that thing, you start to understand and feel its rhythm, you see that things has an order to happen, and you see that things are predictable and "rigged" or "manipulated" and not completely random. Now I'm talking more about intuition, which I think it helps also.

>>1128335

That's pretty much how I feel when I'm winning, that I'm in sync with the big banks and institutions or whoever it is that actually have the power to move the price. It feels like I'm playing on the big force side.

You mentioned "traders", just to clarify I think the minority that are consistently profitable are in sync with the big banks traders, not the average joe forex factory / 90% traders.

If you're trading like a retail trader, expect to lose like one too.
>rookies

Short positions are running quite nicely. We had left our usdjpy, eursdy and eurjpy shorts all open over the weekend this time.

>>1128370
If your strategy makes consistent profits on 1m over longer period of time you should start looking for automating it, so you would be running the strat 24h for the week without making too much effort.

>>1126758
>(I only trade one and the same pair by the way which is very volatile).

Which pair anon? Probably doesn't even matter though, right? Main thing is just that it's volatile, correct?

What's your strategy? I mean, I'm not asking for guidance or details, just the general aspects of it. Timeframes, mean reversion, counter trend, with trend?

Also, what's a respectable monthly return? What's your average? Do you calculate PnL in "R"s?

How much money did you start with?

>>1128619
It doesn't matter at all. You pay no comissions, only costs are overnight and over weekend holding costs, which are very minimal nowadays anyways. The spread is your cost so better watch out what you are trading and what frequency for the optimal results.

>>1128570
True. I know it's possible and that I could automate it but I don't intended to do so for now. I'll continue to trade manually for some more time.

>>1128583
GBPJPY. That's right, just because it's one of the most volatile pairs. I don't really give a fuck about what's happening in UK or Japan.

>>1128601
The general aspect of it is that I'm trending with the trend. That's it.

In theory it sounds simple, but it's a little tricky to determine what's the actual trend. The price can be going down yet we're in a uptrend and you should be buying. Very similarly, the price can be going down and indeed we're in a downtrend and you should be selling.

How to determine what's really happening underneath? That's when the hard work of lots of observations, watching charts, trials and errors, etc. comes to play.

I don't always get perfect entries (yet), price goes agains me all the time, BUT, because I'm trending with the main trend, it "always" ends up coming back in my favor and beyond for profit.

>>1128619
Very little. Ridiculously little.
High leverage combined with compounding, can make it grow very fast. (of course, if you know what you're doing and already have experience). I don't see having a small capital a barrier to trading at all. Being a good trader is the challenge.

why are you chloeposting baka desu senpai

>>1129059
Hey man id like to talk to you on skype, i have developed the same sort of strategy and id like to talk about it, maybe we can help each other?

>>1126713
Can you post links to learning material?

>>1126713
what platform do you use?

>>1128214
What is your strategy

>>1129803
And by learning material I mean your Chloe Moretz folder

>>1129059
I don't mean to piss on your parade m8, but i wouldn't be so sure about your strategy.
Since i have literally played with hundreds of systems, i can give you some wisdom nuggets

>Tail risk. Sooner or later you will get a losing streak (or a single losing trade) large enough to wipe you out. Doesn't mean it's going to happen tomorrow tho, but it's a certainty. I have never seen a scalper on forex being succsful on the long term. Different story with futures (everybody scalps there)

>Learn a trend following approach if you want to survive in forex. The tail risk you get with these kind of strategies is in your favour, but you need to have the balls to endure weeks if not months when your equity curve will basically be flat or declining. Trust me, don't just blow away your cash. Alternatively, reduce risk dramatically

>Learn how to use and exploit indicators. Moving averages are used by institutional players to gauge trends. I have seen big traders use stupid stuff like RSI divergences to make calls.