/biz/ - Business & Finance

No, you don't.

>>56354068
Just the past few hours.

>>56354064
>I trade GBPJPY and make 24k a week.
so why dont you scale up faggot?

>>56354064

lol sure fag

>>56354074
honestly trading should be banned, You offer nothing to the world, No employees, no selling services, doesnt simulate the encomcy what so ever, literally just drawing lines on a chart

>>56354157
>You offer nothing to the world
I contribute to making markets efficient and to price discovery + my spending/consumption contributes directly to economic growth

kys commie

>>56354095
Why would you need to scale up if you're making 24k/wk checking a chart a couple times a day?

>>56354064
How big is your account if you don't mind me asking? I'm just starting to learn and would welcome the hopium even though it will be a mission to work up the capital.

Anon OP please do share more. Have about 70k, what should I do?

>>56354157
Based

I wanted to get into it and wasted a lot of time trying to find good indicators. There was a guy I followed, no nonsense forex who laid out an indicator strategy but I never had much success. It took way too long to backrest indicators and none of them showed to be helpful

Do you indicators? What about price action patterns

>>56354064
What's your strategy?

>>56354157
traders provide liquidity

>>56354064
no you dont. each trade is a taxable event and youd be losing 33% on every trade to capital gains.
nice try larper

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

>tldr its not for everyone and i'm one of them

So you take screenshots of 500$ gains then claim you make 24k average per week ?
And you think non desperate retards will believe you ?
Show your 6months PnL then we might have a word.

>>56354064
Cringe larp.

>>56354208
100k. But when I started: $300. I use an unregulated broker which means I can leverage as much as 500x.

>>56354269
Start small and play with leverage. Set running orders with stop loss and take profit. Learn the tool of the trade. I mainly rely on Fib and break-retest.

Just put in some sell orders cause the retest hit a snag at the MA mark. picrel

I have RSI, MACD, Bollinger Bands open. But I predominantly use Fibonacci and break-retest.

>>56354556
I use an unregulated broker.

>>56354296
I'm following him too. But I would imagine he would say this guy is just larping.

>>56354556
Each loss would be a taxable event as well and capital losses would be written off.

Forex is tradable like any other assets. If you are good at trading stocks, futures, commodities, options you are good at forex.
The only problem with forex is that you dont trade forex but the shitty CFD your shitty broker gives you.


Now the JPY is heavily manipulated by the BOJ so it's not hard to make money with this. It's like the peons in stocks who got rich just because there was a massive bullrun for 10 years lol

>>56354068

>>56354708
>If you are good at trading stocks, futures, commodities, options
So literally nobody on this fucking website lol

>>56354604
>says he makes $1.2 mil a year
>only has $100k
Really makes you think.

>>56354604
So you have achieved your currently stated 24k a week for only a month and you make authorative claims regarding your abilities
Ser are you familiar with survivorship bias

And from your pnl statement your are making about 200 trades a week to get there, that sounds like a job
As to answer your question most people here are long term value investors who prefer to do a few trades a year

>>56354064
this will become a forex n stonks board after crypto is ded

fx markets = well educated banking chads, governments, central banks, and super computers analyzing trillions of data points per second

crypto = just have to con some fellow wagecuck into thinking that new shitcoin is going to be his ticket to freedom

>>56354064
it's because I'm still fighting with my rent to get off my ass for something
I wanted to buy this shit but also use it, it's the worst investment of my life, even staying with VINU would have been more comfortable

>>56354157
>offer nothing to the world
>no employees only sayanim
>QE/QT are usury with fancy names, yellow tape and extra steps.

So by this metric we should destroy the federal reserve too. Sounds good.

most people on 4 chan justdont know how to trade at all .so imagine forex...

>>56354074
>OP makes two winning trades and extrapolates to 24k/week

>>56354064
Buy USDJPY.

The BOJ won't be able to defend 150 much longer.

Thank me later.

>>56354157
Your in the wrong forum, Friendo.

Money is our God here and Silverstein is our Hero.

>>56354168
based

>>56354604
You started with 300 and grew the account from there? Do you make withdrawals of those profits , if so, why dont you let the account grow more and then start handling bigger lots?.

>>56354064
Are you going long or short for the coming week?
BOJ is expected to start raising interest rates any day now.

>>56355228
>>56354604
I don't put my entire life savings into this, dummy.

>>56355280
>24k a week for only a month
This has been recent. It took me years to get where I am now. Yes, it is a job. It isn't 200 trades a week. I just posted my most recent P&L.

>>56358055
By that I mean, in 2020 I started with $300. I fell victim to the House Money Effect because whenever I'd make let's say a $200 trade, i'd lose $200 in the next trade. It took me 3 years to get consistent results and finding a good stop loss and take profit amounts (50 pips).

picrel is current setup. Either we will have a retest at the current support of 181.250 with a resistance of 182.898 (which nicely lines up with the MA) or it'll break again through to 183.769. We've been seeing all-time highs for this pair, so I've been mostly making sell orders until yesterday when I caught a retest.

>>56356693
Nice double top on the daily.

>>56356636
I said that this was the most recent. It took me 3 years to get here.

>>56354708
I actually started using a forex broker to trade Ethereum. That is what I did for 2 years and I had a lot of losses because the ETH market (and most crypto) while having the benefit of being open 24/7, has so much volatility that the candlesticks have very long wicks which are hard to predict.

I started GBPJPY because a close friend of mine has been trading it for 7+ years. The GBPJPY is remarkably wickless (for the most part) so it's very predictable. It's so predictable I set my pending orders before I go to bed because I'm asleep for the British hours.

picrel is from earlier last week.

>>56354064
>>56354074
Do you have a YouTube channel?

is iq option good for trading?

>>56359270
>The GBPJPY is remarkably wickless (for the most part) so it's very predictable.
Really? You may wanna look at the chart again.
Otherwise is a nice pair to trade.

>>56359270

I trade Forex as well. Do you always trade the hourly chart for GBP/JPY?

>>56359232
BOJ intervened 10/3 hence the sell off there. We're back there now. Price will eventually get through and run.

Every single forex trader that tells you about how great forex trading is is someone that has lost everything with it and wants you down and next to him at the bottom of the bucket.

How do you manage your risk? Like what leverage do you use and stop loss?

>>56359270
Usd/jpy short chads rise up. But seriously why don’t you trade a real instrument like futures. Way better tax treatment.

How did you learn how to trade?

I find the day to day movements of forex markets hilariously boring. I’m sure I’m 100% wrong and there’s someone out here who can prove me wrong, but I’d rather just identify the long term trend to make sure the currency isn’t a dud and then trade the countries bonds. Bonds are way more fun.

>>56354064
Because no one here has enough in their account to qualify for that.

>>56354157
Are you retarded you stupid commie? Go read a book.

>>56355228
His brother has an algorithm that can double your money everyday. Dudes super legit, DM me for his telegram