/biz/ - Business & Finance

Started with $2k, now have $0.

>>1486122
It's hard out there for a pimp.

>>1486122


lmao

>>1486122
That's better than most.
Congrats, anon.

>>1486122

>>1486122
>Started with $2k, now have $0.

Every serious trader out there has had big losses or their account wiped out at one time or another. The point is to learn from your mistakes and make sure they don't happen again. Then you've learned something and have more knowledge and experience. I don't see losses, just amounts I had to pay to be taught a lesson.

If you lose and decide to just give up and quit, then all that knowledge and experience is just wasted.

We're rare, OP. Mostly shillcoins on this board.

1) Swing, I guess. I mostly use EAs that do my trading for me - whatever the bots feel like that day. Mostly trade USDJPY as I have an academic focus in that area, so my trades are mostly based on my ability to forecast long term movements and let my EAs trade them for me. My latest bot brought in 5.3% in the last two weeks, I'm so proud.

2) About two years total. About 3 months of manual trading, after which I switched to EAs. Robots are love, robots are life. I've been interested in forex since about 8 years ago and studied international finance all throughout college, if that matters at all.

3) Dropped 3k into an account, took out a 5k loan and put that into the account with it, traded it up to 12k then closed it out and used the money to pay off denbts all within the span of a few months. Now I mostly just do small amounts and have people pay me to trade for them while I work a real job. Gradually getting back into the game again. Once I get my stock options exercised next year, I'm moving to the country and retiring using this shit.

4) Several different unregulated offshore brokers, linked together by a trade copier ea running on MT4. No more than 500 in each account. All accounts are hosted elsewhere.

>>1485572
TDAmeritrade is great, their support is fantastic, and their platform is top-notch, but their fees are too high for me. Have you liked any other brokers you've tried? As US citizens, our options are shit.

>>1486236
> Have you liked any other brokers you've tried? As US citizens, our options are shit.

Most important to me is peace of mind and knowing my broker isn't going to make up some excuse to not pay me or hold my funds like i've heard of some bucket shop brokers doing.

It came down to either FXCM or TD, and I chose TD just because I felt they were the more reputable company. I also liked the fact that it has banking capabilities like check writing.

Their fees are negligible to me because i'm not a frequent trader.
i'm looking for opportunities to get in at a good entry point and hold long term, usually for months at a time.

More or less the same here.
Trend follower, started with 500$, now to 14k (i was at 37k in june, july and august were fucking horrible). 2 years and half, quantitative models. Cyprus based because i need a shitton of leverage since i add to winning positions, sometimes floating profits aren't enough.

The volatility my equity has to withstand is hair rising, but hey go big or go home. Might use a sub account later and use a more extreme risk model to run it to the moon.
Will probably transition to intraday futures with a bigger stake, maybe manage OPM since my track record is bretty gud

+$4,000 more profit overnight, feels good man

How can I get into Forex without getting ripped off/broke?

>>1486236
why are you still working when you are making mad gainz in forex? Howmuch gains are expected from $1000 on a daily basis?

>>1487615

Just make sure you do your research and go with a reputable broker. If you see a broker that is offering "deposit bonuses" or ridiculous leverage like 1:500, then stay far away.

Most of those are bucket shops where your trades are never actually executed on the market and they have an interest in making you lose money. One way they can do this is by "stop-hunting", triggering your stops and closing your trades even when they never actually hit that price in the real world. You are basically just playing their video game instead of actually trading.

If you make money on these sites, they also have an interest in not paying you, since you are actually taking money out of their pockets. They can do this by saying they need to hold your funds because of "anti-money laundering laws" or other such BS.

>>1487623
>Howmuch gains are expected from $1000 on a daily basis?

There is no way you can predict how much gains you are going to make on a daily basis. Also, you shouldn't think in terms of daily gains like you are making income from it. You should think in terms of monthly % growth, because your "daily gains" can fluctuate wildly.

WHEN DREAMS BECOME REALITY

>>1487766

If I just found employment and want to dump 5K in td ameritrade, should i lie on my application and overstate my employment, or will they just steal from me?

Also, how the heck are they able to offer a $600 registration bonus?

Furthermore, can they replace a traditional bank, assuming I rarely withdraw cash (few branches)?

>>1487952

If you want to trade on margin (required for forex) then you should exaggerate your income and net worth on the application and make sure you put that your objectives are "growth" or "speculation" and not "income".

>Also, how the heck are they able to offer a $600 >registration bonus?

It's only if you deposit $250k

>Furthermore, can they replace a traditional >bank, assuming I rarely withdraw cash (few >branches)?

The trading account has banking features such as check writing, ACH, and debit card if you want to wd funds that way.