/biz/ - Business & Finance

>>4597266
Not mad good to see anons making money

>>4597266
Not mad at all. I respect someone who's able to make a living in forex. It takes actual skill and hard work. Congratulations.

>>4597266
nice. how much leverage? how much of your total portfolio per trade?

>>4597288
Thanks buddy. I was just jesting anyway. Good luck to you in your ventures.

>>4597266
Well done brother, I love you very much

>>4597295
Thanks. Started with $100 account last month. Been posting here about once a week. Reached 5k few days ago, up to 8k now.
>>4597296
Around 1:20 leverage. I'm currently only investing in Forex and trying to get into daytrading some crypto as well, but I haven't been able to crack the crypto patterns yet to start trading them yet.

>>4597266
ive probably made that much on crypto this week (massive fluke though, rarely ever happens). do you do this full time or is it a side hustle for you? id like to hear how to do it

ELI5: Forex trading and its pros and cons

Remember when biz was all about forex?
Good times.

>>4597266
ITT: samefagging and shitty LARP

>>4597398
i rarely ever saw it posted last year. larps aside, did anyone make much off it?

>>4597266
I make money 90% of the time. Just not as much as I would like. Making money on a market like this is not special.

>>4597385
Back to >>>/Reddit/

stop samefagging OP. you make this thread every day

>>4597266
what platform do you use anon? i've been messing around with 1broker but it's pretty clunky

>>4597516
Pepperstone. Their cTrader is awesome, but for analysis I use Tradingview.com

>>4597515
And every time my account has more than doubled. Next stop, $100k

Hey OP, why dont you show us a screenshot of the page that records your trades, so we can see all your wins

>>4597551

I'd like to try my hand at it after messing around a bit in crypto. Is it risky? Do you just looks for trends? What kind of background do you have?

poor OP, he just wants to feel good about himself and samefags

>>4597385
Pro: literally trillions of daily volume. Real money to be made here.
Con: it's a zero sum game. Whatever you win someone else must lose. There are no bull runs. You actually have to follow the news and know what you're doing.

>>4597551
OP why don't you just post here any suggestions about where to invest on Forex? Some peopel are still interested about it....like everyday at 11Am? That would be cool

>>4597589
Pic related for recent trades.
>>4597596
It's as risky as you want it to be. It's impossible to lose even a single penny unless you allow yourself to lose it. But that depends on the person, some "hope" for profits and let their losers run for a long time.

Been trading since I was 16, so about 6 years now. No formal training, if that's what you meant.

>>4597266
How do I into forex?

>>4597640
When you win, you profit little
When you lose, you lose big

>>4597640
lol thats demo money

>39 closed
larp

>>4597638
The best way would be to learn yourself. No 2 successful traders that I've seen have the same strategy, so find something yourself. Try to find patterns. The only way to do that, imo, is to stare at charts, risk a small amount of money, that you have no problem losing, to keep you interested, and ignore most advice.

Good luck!

>>4597674
It's time adjusted trades. 39 in last 7 days.
>>4597662
Yep, I know. And I have no issues with that.

Poorfag here tryna shell some money into the markets to make rent. Got anything I can read to help me learn the Forex market?

>>4597698
post page 2

>>4597708
its impossible. you need big funds and tiny or no leverage to be profitable, and only by swing trading... day trading forex is literally mathematically impossible to be profitable

OP, this is you in the future:

https://translate.googleusercontent.com/translate_c?depth=1&hl=en&ie=UTF8&nv=1&prev=_t&rurl=translate.google.com&sl=auto&sp=nmt4&tl=en&u=https://m.lenta.ru/news/2017/09/30/igral/&usg=ALkJrhhjyrEUEYbhQfOYqZ_U0uz_H9JLXw
Pic related.

>>4597725
I disagree.

>>4597266
Very nice.

>>4597680
This guy doesn't trade like me at all and he does have more gains than me.

I can do 100% on a good day but it's usually only 10% and I have more drawdown apparently. I can't understand how he does so well with such a poor pip risk to reward ratio.

>>4598278
A win rate higher than my R:R ratio = positive returns.

What's your trading style?

>>4598813
I tend to go long at the bottom of a dip or short at the top of a rally. Risking 10 to 30 pips to earn maybe 50, 100, 150, or even 200 pips.

I let my winners keep running with trailing stops I monitor. I'm getting so good out of no where for no real reason. I put a lot of time into this for a few years but took almost a year long break. Then recently I noticed my skills had improved immensely. I was still checking the charts almost daily but not watching them for 8 or 10 hours a day like I had when I started out.

I feel a little guilty desu. Do I deserve to be this good is a question I'm asking myself a lot lately.

>>4597266
teach me or tell me what should I read.

>>4598904
I doubt he can teach you. Even if he explained what he's doing you may not be able to see the charts in the same way as him. For example what I'm doing is a lot of instincts. I can just look at the charts and see the places where the price will be drawn to or move away from.

>>4598934
i can find patterns (visually) very easily and/or learn how to, but it's hard when i have no idea to what i should be looking though.

92% win rate can't be just..instincts.

>>4598962
I'm not the 92% guy. If you're so good at finding patterns then go find some and start winning.

Plus even if I could teach then I wouldn't. Less money for me and someone could just make a bot out of what I do and sell it.

>>4598985
i already do it professionally (mostly big data) and do some sports betting (but the marktets im great have low liquidity). that's why i wanted to learn more from forex.

>>4599039
Put the time in and put it to the test. Maybe you'll be better than both of us. It took a lot of sacrifice for me to reach this level.

I would not feel right teaching someone who isn't willing to put in the same work as I did. Seems like everyone just wants to be able to do for free and no work what took me many days of staring at the charts for 8 to 10 hours a night.

Anyway good luck. I hope you find your patterns.

>>4598882
And how do you determine the top of a rally or bottom of a dip?

I've been interested in this as well, and from what I've noticed most quick spikes are usually retraced back. But you have to play with the timeframes to find out in which time frame is the highest probability of the quick spikes retracing. A good way, or at least what I thought to be back then, was to run H1 charts to note spikes, and if a 15 minute candle appeared in the opposite direction, I would take it as a sign to open in the opposite direction. Didn't test it out as much, and instead started to work on what I use now.

I made 50% last night

>>4597640
xan you post more info. not just your trades but where your tp/sl was on those trades?

>>4599228
Haha you're pretty close actually. At this rate you'll be a millionaire far sooner than me so I don't want to share much more than that.

But this is all that I was interested in and stared at for hours every day. I think you'd do far better if you started letting you winners run.

There are some trades you take that I also took but you closed yours after 10 pips and I let mine run for well over 100. I'm the same guy that told you that your pip risk reward ratio was too small a week or 2 ago

5 lots on 5k... Claims 1:20 leverage.. without actually knowing what leverage is. Nig you are buying 500k with 5k to make 10 pips... you are a horrible trader and suffer from beginners luck. Your leverage has to be 1:300 or higher to maintain that margin without constant margin calls. Stop lying to the anons.

>>4599249
10 pips TP, 20 pips SL. Or adjusted do different degrees, depending on other factors, but the ratio is usually 1:2

>>4599297
I'm doing 100 to 200 pip trades and he seems to be growing his account quicker than I am so it must be working.

I'm currently in a nearly 100 pip trade with 50 or 60 locked in

>>4599304
Why not let them win more as in run farther?

Lmao britcucks

>>4600121
at least they dont have islamic super (pension) funds

>>4597551
Pepperstone doesn't allow Americans to use their service.

ffs

>>4599868
Don't think that would work for me. Much rather win less amounts I'm sure of many times than win fewer times with larger prizes.

Also, managed to sell XAUUSD and buy AUDUSD. $1500 up.

Current open positions:

Buy: USDJPY

Sell: GBPUSD, AUDUSD

>>4601319
OP here, BTW.

>>4597640

not memeing but USDJPY is my fucking nigger

>swing trade + some algo logic
but really you just need to learn how the algos behave for everything to be profitable

What broker do you use?

Equity reached $10k for the first time. Waiting to close these>>4601319
trades in positive for my balance to be $10k.

>>4601403
It's the best performing currency for me along with EURJPY and XAUUSD.

Good job, I started 2 weeks ago and only made 250 dollars in 2 weeks since I justed myself hard chasing shitcoins. I guess crypto is going to be a retirement savings rather than early retirement.

>>4597266
I don't know how you do it, any time i want to enter a trade i get paralysis, and don't do it.
I have a plan, but always panic about the worst case scenario.

I mean, doubling in three months is more than i'd hoped for i'm happy with my gains, but fuck if i had taken more risks, i would have probably added an order of magnitude in the same timeframe.

I was about to type "how do i stop being a pussy" ( guess i typed it kek ), but that stuff is genetic.
I guess safe bets still make me grow, but i sure would love to be more courageous and grow faster.

>>4597311
>literal cancer faggot

just go back to wherever you came from.
Never return to /biz/

>>4601623
Doubling in 3 months is pretty fucking good if you can keep it up.

>>4601535
Trades closed. Balance above $10,000 for the first time ever.

>>4601623
>any time i want to enter a trade i get paralysis, and don't do it.

Trust your instincts fox

>>4601757
I'm approaching 1k. Started with 500 a couple weeks ago or so.

>>4597266
Not mad at all. My portfolio is 60% stocks/40% crypto. Canadian marijuana stocks stepped on the gas last week and a couple are mooning right now. Fucking Radient Technologies went up 15% Thursday, 11% Friday, and pushing 20% today.

Feels real comfy. Every single thing i have is in the green today.

>>4597266

Um. I made 50% this week and all I had to do was hold.

And I didn't have to deal with forex.