/biz/ - Business & Finance

>>16821221
DELETE DELETE DELETE

>>16821221

scalp only dont long term trade forex

>>16821221
leverage is mandatory

>>16821253
Please elaborate?

>>16821221
crypto is forex.

I have a friend who met some chink bitch online, she gave him some calls and he claims he made a trade that netted him like 25k$ +.
Is this something that can be done regularly? Is there a lot of risk to it?

Anyone? Cmon I know some brains lurk here, gib answers plz.

No advice for tripfags.

>>16821368

>>16821221
>>16821257
>>16821300
>>16821321

>>16821368
>>16821382
Doesn't matter when you have no advice to give.

>>16821368
>>16821382
> bothered by words on a screen

Bump.

>>16821442
tripfags should be banned

>>16821455
Lmfao, why does it bother you all so much? Petty little faggots..

>>16821368
Based

Bump.

.

Forgot this place is all poos and poorfags

>>16821418
Ironic

>>16821368
None.

Just buy link. It's not hard.

Tripfags are niggers.

>people think forex is a meme and manipulated while they trade e-coins and shit markets with liquidity the size of a puddle

>>16821221
Forex is strictly for algos unless you're a genius quant. Nobody on this board is smart enough to profit off forex. I'd suggest you stay away as well.

>>16821825
How? I don't care of someone trip fags. I just don't like jews. I know a lot of (((you))) lurk here, for whatever reason, you do.

>>16821961
Wrong. Forex is no different than any other market except it has a shit ton more liquidity and higher leverage. Buy low, sell high. It's all the same.

>>16821300
>I have a friend who met some chink bitch online, she gave him some calls and he claims he made a trade that netted him like 25k$ +.
>I have a friend who met some chink bitch online,
>I have a friend
Nice LARP

Chick I blew off as ditzy airhead in highschool makes like 5-6k a month forex trading as well as running an etsy shop that nets her another 6-7k a year. How the hell did this bitch learn forex?

>>16821961
Sounds like fud. Thanks for the input.

>>16821221
>Is forex a meme?
yes if you go in blindly with no knowledge or money management
>Any forex traders here?
I do a forex general every Wednesday
there quite a few of us
>How risky is it?
again if you go in with no knowledge you might as well burn your money

however if you do your research and test your strats before hand you can do quite nicely
theres a decent number of things you can do if you're good too

>>16822071
Not larping, it's someone I grew up with, he says he has been trading btc against gold using wistonfx, I'm about to meet up with him in a few minutes to ask him some more questions about it, I wouldn't be surprised if he is telling the truth because he has had a lot of dumb luck with trading in past, he just kind of sucks at managing his money when he makes it.

>>16822102
Where do you see the future of forex markets going? Are they here to stay? I already have a decent amount of LINK, and I don't feel like taking huge risks at this time. I'll probably not touch forex, but I do admit it's got my attention.

>>16822084
How do you know she makes that much with forex?

>>16822129
Thesheer size of the forex market encompasses every other market combined several times over. As long as there is more than one currency on the planet, it's never going away.

>>16822157
And what about if/when the nwo introduces a global currency?

>>16822129
unless we do our Godly duty and kill the banks
forex will always be here they're slow as fuck right now at least for forex however once the stock market stops being so profitable it'll pick up again

>>16822168
if that happens we have alot more to worry about

>>16822120
Imagine trying to desperately convince strangers on the internet that you have a friend...

>>16821276
No, crypto is far more volatile than real forex. And with real forex, you can do the research to find out which way the market's going, whereas >99% of crypto's value is pure speculation.

By virtue of US and global security, all markets must follow certain rules in terms of the ratios by which price is distributed up and down, in and out of consolidation.
Forex is plenty volatile and one can employ leverage to magnify gains/losses.
The fact remains: All markets are managed to the fucking pip by the "Market Makers".

I happen to love swing and intraday trading Forex. Shits fun and more ethical than trading commodities.

>>16822120
>>16822192
JUST IMAGINE

>>16822248

>>16822241
Where can I learn more about it? I haven't seen a lot of people talk about it here unless they talk about it in the /smg which I never frequent. My only exposure to any kind of markets has been strictly crypto.

>>16822357
nononesenseforex.com

>>16822359
watch the big banks video and go from there

>>16822357
Well, aside from going to investopedia to learn how lot sizes and leverage work,
I would start with The Inner Circle Trader's public content on youtube.
He has a unique approach to interpreting candles on a screen. But if his style of teaching isn't your thing, well, then i dont know what to suggest, senpai, other than to learn as much as you can about as many different ways of trading as you can until you find something that works for you.

>>16821253
>scalp only dont long term trade forex
how to be a sucsessful scalper in forex? any suggestion?

>>16822359
>>16822424
Thanks a lot for your insight.

>>16821915
>>people think forex is a meme and manipulated while they trade e-coins and shit markets with liquidity the size of a puddle


well but liquidity is not a garantee that forex's not manipulated

>>16821961
>Forex is strictly for algos unless you're a genius quant
define genius quant please>>16822102
>I do a forex general every Wednesday
>there quite a few of us
why on Wednesday?
>>16822102
>again if you go in with no knowledge you might as well burn your money
which knowledge is requested?
>>16822102
>however if you do your research and test your strats before hand you can do quite nicely
>theres a decent number of things you can do if you're good too
do you mean backtesting?
But this is a thing that all the people out there can do... everyone one can do backtesting... what does it give you an advantage over others?

>>16822496
start here- babypips.com/school
burn your demo account a few times before you go live. if you're not making 5 or more profitable trades in a row you're doing it wrong. profitable means hitting your rr consistently, not "thank god i did a little better than break even on that one that went 40% against me before turning around."

also, if you're not hooked like a junkie the first month of trading forex you might want to consider learning a trade. i heard welders and plumbers make good money and it's a guaranteed paycheck. good luck.

>>16822514
he means automatic trading bots and yes theres a lot but the banks still have guys doing it manually which to me means more
>>16822608
>why on Wednesday?
Thats just the day I got alot of people in so thats kind of the day we agreed on
>which knowledge is requested?
maybe knowledge wasn't the right word but having a strategy and discipline to follow that strat is key as well as proper money management
with out those you are just pigs to slaughter
and Yes anyone can backtest but they don't
and I use the 6 different indicators all hand picked and adjusted by me
that is my edge
the biggest problem I have with the tradition trading methods is
everyone uses them therefore they are predictable
banks love predictable

>>16822675
This I blew through hundreds of dollars thinking I knew what I was doing

>>16822691
that being said I know guys who strictly trade support and resistance lines and make a killing
it's all about what works for you
watch a few vidoes try a few tricks
softfx(paid) and fxblue(free) have trading sims for Mt4 that really helped me out

>>16822359
NO
NO
AND FUCKING NO

Do not listen to this goddamn moron and his army of npc minions. Not one time does he ever show an actual trade or even talk about a trade plan. He's a hopeless failed prop trader that won't give up on trend trading with useless indicators and selling this idea to shitters that watch him that the reason you can't trade is because the big banks are out to get you. He persists in this nonsense 2% per trade idea that is repeated over in over in forex circle. He literally does not understand what leverage is. He doesn't understand scaling in and out. He's selling this illusion that you can trade forex without work.

Look up Simple Ton on youtube. Do date is one of the singular handful of people making videos that actually knows what the fuck he's talking about.

are there any brokers that I can deposit and cash out with crypto?

>>16822864
lol ok
2% risk is pretty common in all trading
and I trade this way and have gone from losing everything to turning a profit
also fuck you building my system took a shit ton of work and I'm still working on it every day
also theres a million different ways to trade
>He's a hopeless failed prop trader that won't give up on trend trading.
Source because I'm in a group with quit a few people who ARE prop traders and trade this way quite successfully
>selling this idea to shitters
Never paid a dime but I would have gladly

>>16822864
>>16822930
i don't think it matters who you learn from. if it doesn't work, try something else. i think of it like surfing because charts remind me of waves. the first time you get in the water you can't even stand up. then you stand up and the wave smashes you and maybe your board hits you in the head. eventually you catch a wave. if you keep doing it long enough you'll probably get good enough to at least enjoy it. most things in life tend to work like this.

>>16822980
It does matter if the key ideas presented by the teacher are inherently counter-productive and ultimately self-sabotaging. To use your analogy, NoNonsense would tell you that the reason you can't surf is because Poseidon wants to drown you and you won't be able to surf until you first buy a boat and drive it on a pond for 3 years.

>>16823039
do you work for the banks by chance?

>>16823039
i understand what you're saying, but thats why you demo trade until you find something that works for you. not that anyone will listen because they all found the holy grail system on the internet and all you need are these two or three easy to understand indicators for guaranteed overnight millions with no effort at all. if only it was that easy.

If you're trying to get bogged in an epic way, trade forex

>>16823085
Actually you don't need any indicators at all. There isn't a single indicator or combination of indicators that's going to tell you where the price is going to go. Nobody knows where the price is going to go. All you need is price. Buy low sell high and adapt a trade plan that will allow you take losses from that without going broke.

>>16823054
No, I don't work for a bank. I'm a guy who used to follow VP and believe and listened for a long time before I realized how full of shit he is and left his cult of retardation. He's the crossfit of forex and he's giving people financial disk-slippage.

>>16823153
well like I said theres a million ways to trade
shit works for me so I'm sticking to it

>>16823153
>All you need is price
agreed. everything that effects price is reflected in price. once you really understand this the rest is relatively simple. i'm back to the charts to plot my next move. no rest for the wretched.

>>16822675
>if you're not hooked like a junkie the first month of trading forex you might want to consider learning a trade

So this is something you must be really passionate about to even consider success?

>>16822691
>>16822691
>he means automatic trading bots and yes theres a lot but the banks still have guys doing it manually which to me means more
thanc you
why banks still have guys doing it manually?
And isn't easier for bots to operate on high liwuiity?
>>16822691
>and I use the 6 different indicators all hand picked and adjusted by me
could you please tell me more about the part ''ajusted by me'' ?
In one year how % can you gain?
>>16822691
>the biggest problem I have with the tradition trading methods is
>everyone uses them therefore they are predictable
>banks love predictable
Preictablity can also mean self fulfilling prophecies...so for example if everyone expect a rebounce over 200 Moving avearage...it will happen just because everyone believe it an will sell/buy accordingly

>>16822711
>I know guys who strictly trade support and resistance lines and make a killing
well it's about to be able to find a model that worcs in X time frame

>>16823455
I don't know I guess they don't wanna put all their faith in a bot
indicators have settings that you can tweak so I've adjusted to work better for me
and according to all my testing my target for the year is 25% percent mind you thats back testing foreward testing I'm already up 10%

and yes but it can also mean easy prey
everyone has they're orders going up brokers and bankers make the currency go down gaining all that money while wiping out the traders pic related everyone was trying for a reversal and got reckt
>>16823475
and exactly it's all about personal preference

>>16823540
>everyone has they're orders going up brokers and bankers make the currency go down gaining all that money while wiping out the traders pic related everyone was trying for a reversal and got reckt

Your pick is not bankers hitting a magic button wiping people out. That giant wick is either a new low or a retest of a previous level that was deemed a good place to buy. You should have had a layered stack of buy limit orders placed below the previous low and rode it back up. Buy low sell high. Chasing trends is for goobers.

>>16823685
or I could have been in that trend
took half of at tp set a trailing stop and rode all the way down comfy like
both work

>>16823754
heres a better pic

>>16823754
And that's great and all when the market gives you a nice trend that begins and ends perfectly. Except that the market is ranging 80% of the time and also since you're a no-nonsense scientologist then you're probably using the daily chart only which means you're sitting on a trade for like 2 months waiting for a relatively tiny payout because you're only risking 2% with little or no leverage.

Yeah, that's smart. You're going to learn the hard way just like I did.

>>16823805
you realize most prop firms drop you if you risk more then 2%
i get 80 trades a year on most pairs 1:50 leverage
and best part is I don't stress or worry like I used to i just set my order and go
a payout is a payout whether its a couple dollars or a couple thousand

>>16823540
>indicators have settings that you can tweak so I've adjusted to work better for me
based on what? bac testing?

>>16823853
yes

I've been trading diligently for the past month and half, and from what I can tell the name of the game is speed.

Currencies correlate so the quicker you are to catch correlated movements then the more money you make. I can't match those cocain fuelled bank traders so I set up a series of limit orders on opposite ends for correlated currency pairs. It's working out alright so far.

Trends do happen, but these seem like they arise from randomness.
I kinda like it. It's a different type of game, you don't invest or hold assets you bet one currency against another.

>>16823685
>That giant wick is either a new low or a retest of a previous level that was deemed a good place to buy
you mean wick of the candle?

>>16823869
ok but your backtesting is priced in... I mean everyone can do it...
it's a game of theory... in every simulation it shows that game of theory can't last long...
this is way the majority of traders fail

Anons.

I’m in Canada with an iPhone.

What apps or brokers would you recommend? I’d like to try with $100.

>>16823846
Who's talking about prop firms? Is that your personal goal to work for one or something? And how many of those 80 long-ass trades are losses? And I hope you have at least a 100k account to trade with to make up for the 2% you're risking per trade on a 50:1 leverage. If a prop firm is your goal or you meet all that criteria and you're perfectly happy making slow, tiny wins, then godspeed and good luck. I just want you to know that the underlying horseshit the no-nonsense cult spews out to get you to trade that way is a complete lie based on the worst kind of boogeyman fear-mongering.

>>16824027
Goddamn VP must have personally shit in your cereal
as far as right now I haven't had a single loss, will I ? absolutely
whats your winrate like how much are you pulling in you're so aggressive you must be raking in the cash

kys

>>16824086
Really? Not a single loss on one trade you've made in a year? Are these actual trades you've actually made or is this backtested data horseshit, because there's no way any trader can have zero losses for that long, much less some anyone using some worthless lagging moving average indicators.

Also, my issue with VP is because what he teaches is downright wrong and its leading a lot of people down a bad path where they're going to waste all this hunting useless indicators, blow out their accounts, and then blame the banks, go around telling everyone that forex is manipulated without not ever knowing how the market actually works, just like I almost did. The guy is a downright con-artist, and his only saving grace is that he hasn't sold anything....YET.

https://www.youtube.com/watch?v=BIC1qpDtTmI

Also, here's a breakdown of market analysis on the 15 going forward from one of the few who actually knows how to trade. This guy should have a million views on every video. Yeah, it's actual work and takes a big leap to get over your fear of not knowing.

guys I want to make a cool average forex broker how much money do I need? and how long should it take and am I going to trade for myself with no spread?

>>16824023
hahahahahaha you nwill lose it, you need 10 years of experience so that you may not lose in demo acc

>>16824157
I'm three trades in Bro started on the 4th
on hit TP two are still running
You realize banks create and control currencies right? fuck I knew that before I got into forex MOST professionals will tell you banks move price they do it in forex the do it in crypto they do it in metals

>The guy is a downright con-artist, and his only saving grace is that he hasn't sold anything....YET
he doesn't put anymore forex stuff out anymore
it's done other then his Q&A

again please I'm begging you be better then me I will be really happy if you show me how much better then me you are

>>16822357
>>16822359

What Anon said. I also learned a bit from babypips.com

>>16824238
>I'm three trades in Bro started on the 4th
Okay, you literally said earlier
>i get 80 trades a year on most pairs 1:50 leverage

You're three trades in and you're still in the honeymoon phase.

I'm not trying to blow smoke up your ass here. You are me three years ago. I watched and followed VP for a year and half. The guy is a fake just like ICT and every other bullshit guru out with a heavy following. I'm still a novice trader with years of demos and only a single small real account that I blew up chasing trends and indicators and trying to snipe the market with a single ticket. It just doesn't work. My winrate since October, after a very difficult relearning adjustment period, is about 60%, which sounds bad except I'm trading with a massive amount of 1k tickets and the tickets I do win are bigger tickets than most of my losses. It adds up very quickly.

Just think about what happens when you take a 1 lot ticket, divide it in to 1k's, and then lay them out as limit orders over where you think price might go.

>>16824390
the year just started
and thats according to my back testing which
is real market data from 2016-2019 the youtube video you linked the guy was using one just like mine
well like I said I do a forex general on Wednesdays please come in update me I don't really care what system anyone uses
just fucking win
and to be considered a pro you only need 55% so you're in the clear

>>16821221
It’s easy bruh. Just learn some gartley patterns, look left for support/resistance, and see structure. I only make a few trades a year because I wait for perfect set ups but with max leverage I make about 3 mill/yr

>>16824450
I totally believe you stranger on the internet.

>>16824450
gartley patterns
thanks for the chuckle