/biz/ - Business & Finance

Currently watching EUR/JPY, GBP/USD, AUD/USD

Seems like we found a top for the Cable. Will be watching for short signals.

Euro and GBP news at 1:30

>>62225
Gone short already, CPI could throw a curve ball though, seem the market is positioning for it.

>>62231
I agree it could move a nice amount in one and a half hours

>>62241
Yeah, I may decide to exit before the CPI news comes out, that volatility is just painful, would re-enter afterwards though.

I hate how tempting it is to look at 1 min charts, they just look so much more exciting.

man you guys wake up early to trade

>>62266

>implying they arent eurofags

>>62231
Its moving well so far

>>62266
>>62276
Straya mate. its 4:17PM here now. I wake up at like 10AM most of the time lel

I'm almost certain that none of you have made considerable returns over the long term. Forex trading is fucking stupid.

>>62299
>I can't do it so no one can!!!

stay mad Wipe/Wipe fanboi

I have made considerable returns for 2 years. Deal with it.

>>62299
I am certain you never traded at all. Post some charts and analysis or fuck off back to your doge thread

>>62299

Why cuz its a bit more decentralized than stocks?

>>62310
Because it's a fucking zero sum game.

>>62319
>It's a zero sum game
>One person loses, one person wins
>50/50
>Therefore you always lose and never win

full retard

>>62319

This fact does tend to bother the people that are consistently on the losing side of that game

GBPUSD IS HITTING A TRIPLE TOP ON MONTHLY, ITS GONNA BOUNCE AROUND FOR A BIT

I'D SAY IT FINALLY BREAKS, UP, TO 1.72 WITHIN THE NEXT TWO WEEKS

PS
FUG SPOT, FUTURES GET BETTER TAX TREATMENT

Seems like the Cable has the ability to hit pivot S1

1.6667

>>62382
That's exactly it. It is a painful game, if you constantly lose of course you feel like its impossible. I know because for 2 years that was me, but I never gave up, now I'm doing what I love and making money doing it, to me that's worth it. You really have to want to do this to succeed, you can't just half ass it, I'm guessing that guy didn't want it enough.

Anyway, fuck that guy, lets talk forex!

GBPUSD seems to be working well, not too happy about the USD/JPY but I'll let it breathe, I'm still pretty confident its bullish

>>62425

The tick volume is tapering off I'm thinking it'll bounce at S1

>>62412
I think that will depend on a number of things, perhaps the CPI figure out soon. I am watching closely though, really don't want to be on the wrong side of this if it breaks that monthly resistance there's going to be a huge move.

>>62299
>>62319

kindly refer to:
>>62203
>>62327
>>62432

>>62440
I mean, USDJPY will reach 200+ within 18 months. Going long is a pretty sure bet, no?

These threads smell like shilling.

>>62474
REKT

>>62474

This was helpful. The dealing desk concept was one of those things I never quite understood what it meant

>>62479
Shilling what exactly?

>Posting live trades,analysis and help for free

might aswell become a tripnigger

>>62511
Yeah, this is one of those cases where it is acceptable to be a tripfag because we are actually helping anons in an on-topic thread and not trying to stir shit with tripfag drama or derail threads.

I'm very glad moot finally made this board, been waiting for ages.

>>62479
PRETTY POINTLESS TO SHILL IN A 5TRILLION PER DAY INTERBANK MARKET

>TFW UBS IS IN HERE TRYING TO SCAM PEOPLE OUT OF THEIR 50K FOURECKS ACCOUNTS

>>62266
Its called going to bed late

>>62511

All aboard.

I'm hoping to keep FX a part of this board. There's enough NEET and crypto threads

>>62479
>>>/pol/

>>62542
>tfw my homeboard is /pol/

I'll t-try to keep my /pol/ levels down

Good morning folks

>pic related

Going short, make some money with good old Bob the motherfucking wealth builder

>>62551
mah nigga

>>62551
What MA's are those?

>>62554

Embrace your inner Goldman, roll up your sleeves and get trading

>>62570

I usually don't care too much about them, but its the 200 and 50, for the given timeframe which in this case is on the 1H chart.

I don't put too much emphasis on indicators, as they are a derivative of price (and volume in case of stocks), meaning the good old chart has every bit of information you need

30 mins Cable news

>>62521
I brought this up on /q/ several times and even on /b/pol/ before we got /q/. So much nicer than having to post biz stuff on /b/.

>>62595
I want out before then
I'm using a demo now and just realizing how difficult this is

>>62554

I imagine most of us came from there... or has at least frequented it

>>62600
lol, I tried posting Forex stuff on /pol/ and naturally got bombarded with happy merchant memes and calls of shill, can't imagine /b/ would be much better.

>be me
>be olympics
>like to watch live
>"fuck it I'll just trade Asia and London"

Haven't done shit in 2 weeks.

Do you invest your gains in fx in other financial assets?
How many time do you spend working per day in fx?

>>62440

USDJPY fucked me good on friday before close, and during the sunday open. That massive drop, then sudden spike... fuark.

Not too pissed about it since my bit of cash is with eToro, and I'm pretty sure they're a scam. Just grinding out small 15-20pip trades until I recoup my losses, then I'm pulling my money out of there. Too much glitchy shit happened when I got 10% above my initial investment.

Charts not loading, errors when I try to manually close a bid, etc.

Just going to treat it as a practice run until I bank enough for my Oanda account when summer rolls around.

>>62607
I would get out 10 mins before. The spread gets big

>>62595

Exactly, so thread lightly. This could just be a rustling attempt. The 50% Fibo is at 1.67104 and in case this move is valid it could backtest this level and I would not worry too much.

Limit your exposure and place your stops, so you can live to trade another day

>>62584
>I don't put too much emphasis on indicators

You, I like you.

Post your trades bro.

Here are my open ones.

>>62622
Yeah it is very possible that this drop we are seeing is just banks etc pushing the price down so they can get a long in at a favourable price, I intend to close my Cable short before the CPI comes out.

>>62639

>>62624

Do you have 4 lots open on a 10K account?

Looks like eur/usd is about to bounce off the R1....

possible sell coming up

>>62653
Yeah but I only use 10k per month, I keep the rest of my cash in the bank. I bank the profits over and above the 10k every month

>>62595
NEWS OFTEN BLOWS THROUGH STOPS IN BOTH DIRECTIONS THEN GOES TO ITS REAL PRICE LEVEL

GETTING THE DIRECTION RIGHT AND TRADING STOP FREE IS HOW THE PROS DO

>>62624
>this exposure
holy shit nigga, take it 2 da max

>>62663
Exactly why I don't trade the news

>>62614

>Do you invest your gains in fx in other financial assets?

Whatever I have leftover from my living expenses goes into long term investments.

>How many time do you spend working per day in fx?

It varies some days if its slow none other days all the time but id say id average 3-4 of course im plugged into the fx market all day so i dont miss anything if something comes up.

Heads up: UK Consumer Price Index (JAN) due at 09:30 GMT (15 min). -0.5% (MoM) and 2.0% (YoY) exp and 0.4% (MoM) and 2.0% (YoY) prior.

Happening soon!

Time to close that Cable lel

Some love for the chins:

DAX: Might go long when it hits the supportline of the channel, as the printing presses are on and it is very highly correlated with the S&P nowadays

>>62698

Time to play news roulette amiright?

Place your bets! (or your straddles)

Judging from the high (tick) volume selling of the cable I'm thinking the banks and major players know the markets are going to jump after the news and are now buying the cable with a nice low price. Doesn't it make sense to buy now too? Or is this risky/gambling?

>>62734
I agree. I just closed my cable for 45 pips profit. Not touching that shit before the news. It would be a great buy if you knew what the news was going to be.

>>62734
>>62739

Don't bet on the news. Close your Cable trades and move on

>>62753

But the thing is it wouldn't be a bet on the news. This is all PA and volume. To me it looks like the major players are preparing for a long position

>>62759
>HE'S NEVER RIDDEN A NEWS 2DAMOON

OH MAN, FASTEST MONEY EVER MADE OUTSIDE OF A CASINO

>>62759

Congrats on the pips

The way I understand it is that the news really has no affect on the market. It's just an opportunity for big players to sell greed or buy fear. Hence you see movement that sometimes matches the news and sometimes it goes in a complete opposite way

>>62776

We'll see, but more often than not it's not what it looks like, especially with FX.

[INTENSIFYING INTENSIFIES]

1m ITS HABBENING!

>>62798
Oh I've ridden a few news announcements, but I've also lost on a few, I'd rather not take the chance since I've seen the market interpret news differently many times.

>>62818

tough but fair

>>62605
They are about equally niggerish. Sometimes you actually get good threads with out all the noobish questions that could be answered with a demo account and a few google searches.

>>62816
Thanks, Yeah that's how I see it too and I think that's right. The reason I don't trade the news or trade during news though is because of the volatility and potential of having stop outs.

>>62840

Even if it's 100% true I guess you can never be sure you are on the right side of the smart money though if you aren't a part of it

>>62850
exactly. I remember when the Taper news came out, not only did the market move 5 minutes before the news but it also went the opposite way afterwards because a Fed official -conveniently- said something after the announcement that cast doubt. This tells me that the banks are privy to Fed information before it comes out. And hell with all the corruption they do, its not a stretch to think this.

>>62872

Oh they are absolutely privy to this information before hand. I have no doubt about this

>>62353
If it was a 50/50 chance of winning a trade you're expected outcome would be zero - or negative when you account for trading costs. Idiot.

Yeah, nah, not touching this at all.

Gonna let Cable decide what it wants before I get in again.

>>62719
ES LOOKS TOPPY

LIKE ITS TIME TO TEST 1820

>>62885

You're not flipping a coin when you make a trade buddy

>>62893

Might test the 50 Fibo before moving lower

>>62885
What costs? A one pip spread?


Lol just leave faggot

>>62885
if its so hard for you to grasp simple math, then forex probably isn't for you... no wonder you seems so upset. How much did you lose friend?

>>62909

Are fibs relevant at all on short time frames (eg M5)

>>62885
are you retarded?

Trading costs are nothing if you make big profits. Spread is negated when you trade less and make more, if you want to scalp then yes you are fucked and trading costs will fuck you. But scalping is the territory of the banks and they have algo's that do it for them.

Why are you in this thread if forex is such a horrible thing? Go to your doge thread faggot, you're as bad as those people who go to a YouTube song you hate and bitch about how you don't like the song.

>>62927
Personally I wouldnt bother... Too much noise on M5.

So how long do we wait after news to jump back in? Just wait until the price settles down and we get a trend? Is there a rule of thumb

>>62922
>>62920
>>62906

Sorry to side with this one, but technically he might be right.

For example, you have abosultely no idea what you are doing, and you take exactly 10 pip wins and 10 pip losses. You can either go long or short, meaning there is a 50% chance that you will win. This will equal to a zero sum game.

But, you also pay for trading, even if it is very small, therefore sooner or later your capital will be gone, pip by pip.

On the other hand, if you know what you are doing, employ basic money management and target only setups where your risk/reward ratio is as high as possible, then you should come ahead as a winner.

Also, check out my GBPUSD short, and how it hits the first support level, netting me a nice profit. I understand if you got out because of the news though, a completely valid decision

>>62969
spread is probably the quickest indicator, when that normalizes then it's pretty much safe to get back in.
Different types of news will have a longer or shorter lasting effect

>>62927
SOME FAGETS USE FIBO CLUSTERS, WHERE THEY LINE UP ON MULTIPLE TIMEFRAMES USING DIFFERENT HIGHLOW STRUCTURES IN EACH SCALE

BEYOND A CERTAIN POINT CHARTISM GETS TO BE VOODOO

>>62969
It's really up to you hey, personally I only trade when I have a favourable Risk/Reward, since the price has dropped quite a bit already I would wait for a pull back after a support level and trade the resistance when it hits. Also I've noticed that prices sometimes only make their big move 30min-1 hour after the news so I would be hesitant now.

>>62999

In Voodoo We Trust!

>>62980
Yeah I see your point, naturally if someone doesn't know what he's doing he will 90% of the time fail forex trading. But for those who know what they are doing, it is profitable.

Nice trade. I've just been burned by news before so I'm hesitant, I am definitely going to short Cable again later though, I'm just waiting.

>>63021
Lol those Gann lines. I never have heard of any successful Gann traders.

>>63022
>90%

make that 100%. Bit of a typo.

>>62980
Doesn't work like that though...
First of all the argument is on trades, not trade results so you're starting out with a flaw.
What you would be looking at is 10 trades because you're not guaranteed a certain amount of profit or loss each time you trade.

What you're left with is trying to say that out of 10 trades, half will be losses and half will be wins. That is what 50/50 implies, but is just not true. You have more variables trading than you would with a coin flip.
Do you make all 10 trades shorts, or all 10 long, or 5 short/5long?
Do you decide based on trend?
If it's in a strong uptrend and you execute 10 short trades, you're going to be way below 50/50

>>62980

I disagree completely.

The major players and smart money know the herd-like behavior of people and know how to take your money when you are greedy and how to take your money if you are afraid. A trader that doesn't know what he's doing will fall for this over and over again. When price keeps climbing and climbing eventually the inexperienced trader won't be able to take it anymore and will buy at the top of market right before it reverses. The exact same thing happens in reverse with shorting. I don't think a 50/50 win/loss rate would be anywhere close to possible for someone that doesn't know what he's doing.

Now maybe if you just traded with your eyes closed and never looked at a chart it could happen I suppose

>>62996

It's looking like it wants to bounce off the S1 right now. Too soon to get back in?

Why

Hi guys forex broker from previous thread here.

Let me know if you have questions about your broker.

>>63068
in the pic, I would sell at that area or similiar because of 2 reasons:

1. Favourable risk reward, if anything you could get the support as the take-profit if it goes back there.

2. You get the bearish- trendline ( a very strong indicator ) to act as your protection,

>>63100
This is why.

>>63100

>1m

>>63068
1.665 IS 1HR SUPPORT, LOTS OF LONG STOPS TO BUST IN THERE, SINCE SCALPING A LONG BOUNCE HERE HAS HIGH R/R

>>63100
WHY THE LONG WICKS ON 1M CHARTS? HOWBOUT 1TICK CHARTS NIGGA...

PERIODS THAT SHORT ARE USELESS

IF YOU MICROMANAGE AND KEEP YOUR STOPS TOO TIGHT UR GONNA CHURNED TO DEATH

>>63113

I see what you're saying that makes

I've been using the m15 to draw my trendlines. You think that h1 or some higher time frame is better? Maybe S/R lines from higher time frames are stronger?

>>63170
Yeah high time frames are always stronger because the big players use them. That's why if you look at your weekly or monthly charts you will notice how those support and resistances determine the entire trend of the market.

I like to use hourly/4hourly charts for daily trading but if I plan to set and forget a trade I use Daily charts. Trendlines are also important in lower time-frames, just not as important.

>>63213

A big thank you to you as well as everyone else for answering my questions. Hope to see you all in the thread next opening

>>63246
No worries mate.

This board is such a nice change from /pol/ lol.

>>63258
>This board is such a nice change from /pol/ lol.

Ssshhhhh! Don't type so loud. They might hear you and shit up this thread.

I only use S&R looking at 4h and 1d charts. How fucked am I?

>>63266
Yeah you have a point. I probably shouldn't have posted those happy merchants either, that's a trigger for us /pol/acks.

>>63258
my concern with this board from what I'm already seeing is that it's going to turn into people with money vs people without and NEETs. The latter raiding the productive threads with shit and stupidity and generally trying to derail them. Take all the "forex is fraud lol" posts in here already.

I think the sort of "class-split" is inevitable, just hoping that each can be contained in their own type of threads instead of shitposting.

Similar thing happened in /sci/ where you had half the board with engineers, scientists, math majors, etc. and the other half shitposting with "hey do my homework" and "how do I make drugs with household items"

>>63276

Not fucked at all, just select your position size accordingly, because stops and targets to to be far away.

Maybe you can fine-tune your entry points on the 1H or 15M chart for max gains? Your call.

>>63293
Yeah I've noticed alot of that already, some of it is definitely just the usual 4chan trolling but I wouldn't be surprised if there really are people who want us to spoonfeed them how to get a high paying job with no degree and no experience.

>>63293

Don't paint the devil on the wall. We will deal with this type of shit accordingly, which should be to completely ignore shitposting.

If you look at this board its fairly active from the get-go but you can smell the narrow mindedness from a mile.

"Which cryptocurrency..."
"Pandacoin, bitcoin, dogecoin, etc.."
"What education/job should I pick..."

They are following fads and looking to fit in, in a world which is dominated by the people who dared to create something instead of following something. Not saying that this is wrong, as to each his own, but there will also always be threads like this one or similar ones where _knowledge_ is spread, to my delight.

Guess the best thing to do is try to not feed the trolls as much as possible. And maybe even find an alternative site, forum, or just exchange emails to keep the dialogue open in case things really go to shit.

>>63299

I look at the chart and think "this area has to be tested first before it makes a new move". But I'll be honest I'm not really sure about where to put the SL.

>>63068
I would say now is the right time to get short the Cable again if you want to go short.

Pic related.

>>63564
there we go.

>>63789

Do you ever sleep?

Looking at the EUR/JPY
I think it will break trough soon.

Guys, what music do you listen to if any while trading?

Do you also do coke?

>>63901

Music is distraction I have eurplugs in and I am in an artificialy lit room.
I don't drink soda.

How many shekels you guys make with Forex in a month?

I've recently been using plus500 to CFD mt.gox bitcoin, which has been nice indeed.

Turns out plus500 does what plus500 wants and they have closed trading with mt.gox and substituted it with btc-e which is more stable and much less profitable.

Does anyone know where I can CFD mt.gox bitcoins like I used to?

>>63959
>plus500

Why?

Also I can't help you Bitcoins are a sham and I rather stay away from them before the bubble bursts.

>>63971
They have done a nice job marketing their software, I guess.

Also, bitcoins being a sham or not isn't an issue with CFD as you trade in a span of minutes.

>>64014
YOU ALSO DON'T TOUCH THE UNDERLYING, WHICH IS THE MAIN POINT

YOU'RE NOT ACTUALLY IN THE SKETCH-ASS CRYPTO MARKET, GIVING YOUR INFO TO SOME CRIMINAL BUTTCOIN EXCHANGE AND STUCK HOLDING SHITCOINS

>>64014

Are the rumours true that you can't get your money when you want to withdraw?

>>64049
lolwut?

I don't take a stand on bitcoins one way or the other. I'm just looking to make some quick bucks on a crazy market.

So do you know any platforms that trade CFDs in mt.gox bitcoin?

I tried metatrader but that thing was a goddamn maze.

>>64079
CFDS ARE BASICALLY FUTURES, YOU CAN TRADE THE PRICE ACTION WITHOUT OWNING THE UNDERLYING INSTRUMENT

WHICH IS A BIG BENEFIT WHEN DEALING WITH BUTTCOIN ET AL, CONSIDERING THE ENTIRE CRYPTO SCENE IS AN UNREGULATED ZOO OF ANONYMOUS CRIMINAL SCUM

WOULDN'T KNOW WHERE TO SEND YOU THOUGH, CFDS AREN'T ALLOWED IN MURRIKA

>>64062
so far, definitely.

I deposited 500$ monday and by saturday I had 5000$

When I tried to withdraw 4000$ on saturday I ended up with "withdraw cancelled", all my positions closed and -1000$ total...

Still no reply from customer support. So I'm looking for a similar plattform to trade mt.gox CFDs...

Any tips?

>>64101
Yeah, exactly. Mt.gox has been a goldmine for CFD trading lately. Too bad plus500 are a bunch of necrotic assholes.

>>63944
Depends on a lot of things. Market conditions, how much I trade, etc.
If I devote the whole month to it I can achieve 20%+ on a good month
Normally it's more like 10-15%

>>64103

>>64141
What are the differences between when you were losing/breaking even versus now?

Also, have you profited over all of your losses when you just started?

>>64118
THEY'LL PROBABLY BUST ALL THE TRADES BECAUSE THEY CAN, SURELY ITS IN THEIR FINE PRINT

CLAIM THE EXCHANGE WAS PRINTING WRONG PRICES

YOU'RE BASICALLY JUST TRADING OFF THEIR QUOTE FEED AND NOTHING ELSE

MTGOX HAS CERTAINLY DECOUPLED FROM MARKET PRICING, EXCHANGE SPECIFIC ISSUES ARE DRIVING THAT ACTION, NOT BITCOIN ITSELF

>>64142
is the top graph unrelated but applicable to bitcoins, or is it just the bitcoin graph with hindsight psychological commentary?

>>62200
Hey OP, how often do you make these threads?

>>64169

Its from a textbook.

breddy good day for trading. Was pretty confident of that EUR move though.

>>64208
gbusd acting unstable? just performed a head and shoulders, partial on the 5min chart.

>>64163
I traded demo for a long time so all of my major fuckups and lessons came at no real cost.

Since I moved up to real money, I only had one major scare where I blew up 1/3 of my account, but I even managed to eek out a tiny profit that month, though I'm going to chalk that one up to luck.
There are some months that I'm in the red, but it's generally when I don't trade a whole lot and some of the few trades I made hit my stops. Last month for example I made 1 trade. It hit my stop, then I got distracted by other things and didn't trade the rest of the month, so my bottom line was -2%

The biggest difference I'd say is just more understanding and a stronger mental aspect to the whole thing. After blowing 1/3 of my account and managing to come back from it I know not to panic and that I can make back whatever I lost as long as I don't let myself spiral out of control and blow the whole account.
I've adopted a sort of "fuck it" attitude in the sense that I just don't let losses phase me. This is probably a double edged sword, but it's worked for me. I big thing I see with traders is just a breakdown after losing a certain amount of money and they start making really stupid mistakes trying to make back the money and end up digging themselves a much bigger hole.
I learned not to be afraid to walk away from trading for the week after a bad loss to get my head straight.
Another important lesson is to not overtrade. Take what the market is willing to give, don't try to force more out of it.

I still get stressed out over some trades mind you, just not as much.

>>64208

Cheers!

Ignore the sell order.

>>63841
Im in Straya so the times suit me well.

>>63901
Gonna sound corny but I listen to classical music, keeps me calm.

>>64222

I'm on the other side of the world (Belgium). Its ideal to catch the US and Asian markets without losing too much sleep.

>>64219
mah nigga

EUR was choppy at first but it eventually broke resistance.

>>64241

I spent all day looking at it. Any guesses for its high point? I'm thinking about from 1,37463 to 1,37470 today and a close around 1,37460

>>64265

I'm thinking 13.7750-1.3800

>>64294
>1.37750

Typo

>>64294
>13.7750-1.3800

That would be awesome I'm already raking
€1 051

EURUSD IS HEADED TO TEST MAJOR RESISTANCE AT 1.38 ON DAILY

>TFW STILL LONG CME E7 FROM 1.35

I have traded and written my own algos for the last 5 years. i see people here trading lower than the 30min. dont teach that to people.

>>64186
well, nailed it.

I gues shorting would be a good idea according to that chart.

>>64329
>own algos for the last 5 years.

I'm curious about this do you mind elaborating?

>>64340

who is your broker/in what language are your indicators?

>>64329
and in what prog do you implement those?

or do you trade manually.

I know nothing of this.

>>64329
15m is okay, I like the 15m, 1H, 4H combination.

>>64351

ATC brokers, Indicators are in English.

>>64365
>Indicators are in English
HEHE

>>64370

Sorry I must have misread your question.

>>64373
ALGO GUY IS A CODER

HE MAY MEAN REGULAR PROGRAMMING LANGUAGES OR PROPRIETARY ONES LIKE TRADESTATION, METATRADER ETC

Hey guys, what's the difference between candlesticks and Heikin Ashi?

>>64358
i use a lua editor for tradestation ii. i work in the back office at a hedge fund so have no time to trade for myself. so i implement algorithms to trade for me. for disclosure i only trade on 1D for this.

>>64365
odds are you are using .mt4 (programming language, pardon me). you can automate a signal for indicators or even have it trade for you.

>>64386

Oh got it thanks alot
Gimme a second

I'm using optionsxpress because it's linked to my bank accounta nd the fund transfers are instant..

But this means I have to make orders in browser window while using another charting software (thinkorswim).

Should I go w/ a broker that offers a platform?

>>64398
ONE IS MORE WEEABOO THAN THE OTHER

LINE CHARTS ARE HOW PROS DO

>>64398
HA is to identify trends and trend strength rather than OHLC values. The candles on HA have calculations to sort of filter out the noise.
A positive HA candle without a bottom wick would indicate a stronger trend than one with, for example.

>>64305
>>64306
>>64294
Remember that excitement doesn't stop in FX.

>>64401

,mt4 is correct!

>>64413
So I really don't have much knowledge on graphic analysis, but I'll soon be learning because I really want to get into the capital market, so if you could suggest which would be the best bar/candlestick for a noobie like me?

This is looking good

>>64435
regular candlestick.
If you're a trend trader, then HA might help but I'm not a fan of using HA in place of regular candlesticks and instead advocate for suing them along side each other.

I'd get used to trading with normal candles before going indicator crazy though.

>>64433
ITS A BIT OVEREXTENDED, SHORT SQUEEZE IS DEFINITELY ON

LIKELY A BLOWOFF TOP WITH A PULLBACK BEFORE TESTING 1.38 IN THE NEXT FEW SESSIONS

>>64442
Noice. This is quality posting. Thanks.

>>64443
Forex has no rationality, it will continue past 1.80 just to fuck w/ us.

>>64462
> 1.80
1.380*

>>64433
To 1.38!

>>64462
ALWAYS SET STOPS FAR ENOUGH AWAY FROM MAJOR LEVELS, THEY GUN FOR THEM

NO REASON TO GET TAKEN OUT OF THE MARKET CUS MUH ROUND NUMBERS

PEOPLE WHO REFUSE TO HOLD OVERNIGHT HAVE TO GET LEVELS RIGHT AND TIMING RIGHT

How many screens do you guys use?

>>64576
I use two. One for trades, the other for news events coming up.

Profit for today. Not bad.

>>64490
Not that anon but why are you using caps? You're screaming inside my head

>>64605

Which broker are you using?

>>64607
BRU, BIG LETTERS ARE LEISURELY AS FUCK

>>64651
I've been having a hard time deciphering if you're just being loud or one of those old people that type in all caps always

Hey guys, just practicing here, anyone want to recommend any change in pic related? They're the default currencies to trade so I'm not sure I should change anything.

Also, I'm using simple moving averages, first one set at 4 and the second set at 9. That's pretty alright considering I'm trying out day trading, right? R-Right?..

>>64651
My head
>>64673
So much this, why do old people type in all upper case.

>>64695
other popular pairs:
USD/JPY
GBP/JPY
USD/CHF
less so
AUD/JPY
GBP/CHF

>>64673
ITS A HABIT FROM /b/

4CHAN ON LOCK

>>64721
Noice, thanks
>>64742
>/b/

Which one is up which one is down? ;__;

>>64791
seriously...?
you need to really evaluate what you're doing if you can't figure that out, but black (filled) is negative movement.
Go learn what the different parts of a candle are.

hello what button to press for be rich

>>64819
I'm still learning, and I have a lot to learn yet.

I'm using simple moving averages (or whatever you call it in English) and this is all I see.

>>64836
ALL CHARTS DO IS DESCRIBE PRICE ACTION, YOU CAN ADD ANY INDICATOR YOU WANT BUT ITS BOILS DOWN TO PRICE

YOU HAVE TO UNDERSTAND WHATS ACTUALLY GOING ON TO DRIVE PRICE IF YOU WANT TO DEVELOP A TRADING IDEA

>>64848
WHEN ARE YOU GOING TO TURN OF CRUISE CONTROL IT HURTS MY HEAD YEAH I GOT THE GENERAL GIST OF WHAT YOU WERE SAYING BUT IM STILL GOING TO KEEP DOING WHAT IM DOING THANKS FOR THE ADVICE IM GOING TO HAVE A BIT TO EAT NOW BUT ILL BE BACK IN 5 MINUTES I HOPE I DONT LOSE ANY OPPORTUNITY TO WIN MAJOR CASH AM I SCREAMING IN YOUR HEAD TOO?!?!?!?!?

>>64848
While fundamental analysis is a great way to judge the underbelly of a stock. The technicals behind it, I find, are far more telling. You can view securities and how they fared in times of adversity as well as when the market has done well. I also find it tells me more about what people think of the stock (volume changes, MACD, etc.)

But you certainly have a point that you can't buy fundamentally shitty stocks. Market Technician myself.

Hey guys, what's the difference between stop loss/take profit and upper/lower bound?

>>65146
stop loss is the level you set where its your maximum acceptable loss on the trade. If the price hits your SL your trade will be closed. It's exactly what it sounds like, it's there to limit your losses.
Take Profit is also exactly what it sounds like and is exactly the opposite of a stop loss, it's the price that you're comfortable with that your trade has made you enough money, or all the money it could have. Like a stop loss, a TP at a certain price point will trigger and close out your trade when the price hits it.

Upper and Lower bounds are just the top and bottom of a range that a pair is trading at.

>>65275
>Upper and Lower bounds are just the top and bottom of a range that a pair is trading at.
I see. Thanks for the reply. Why are upper/lower bounds set as options like SL/TP is they are just ranges?

>>65373
screenshot? I just gave you a broad definition because just upper/lower bounds lack context.

>>65495

>>65552
Oh, I don't use Oanda, but I'm 98% sure that it means that you're okay with them executing your order at any price between the upper and lower bounds. This would be helpful if there's not enough liquidity to fill your order at the specific price, and you're okay with getting a potentially worse price.

>>65610
Noice, thanks breh

How do I become a trillionaire?

>>65928
Have at least one trillion in net worth.

Just made a limit order for USD/JPY $100,000 at 100 JPY/USD rate. R8 muh choice m8s.

>>66360
wat. can't tell if troll.

>>66548
w9t are you talking about m7?

>tfw horribly underfunded forex account trading with insane leverage.

Trying to carefully build it up without sinking the whole account after a long time on a simulator.

Being a poorfag sucks.

satan

>>66903

=O

dumb question but i should probably know. If i put 20 dollars into an account and because of the leverage am able to buy 10,000 euros if the euro goes to zero (hypothetical) I'm owe my broker the price that it cost to buy 10,000 euros in usd intially right? So I'm fucked

>>67537
no, forex doesn't work like stocks in that respect, at least not any reputable broker. Your account will just be liquidated when your equity is gone.

If you have $20 in your account and you buy $10k euro that means each pip is $1, so if price moves against you 20 pips, you've just blown up your account. that $20 now no longer belongs to you, but you aren't in debt to your broker.

>>67619

This is correct. Just make sure you have a reputable broker and you dont have to worry about that. Some brokers even guarentee that any negative balance on your account will be paid by them.

>>67850
okay thanks I've read stories of people getting raped by taking loans out for stocks and this was scaring me. Is the company Oanda good?

>>68756
>Is the company Oanda good?

Read >>62200

>>68756
I don't have much personal experience with Oanda, but the people I know that are using them are reporting a significant increase in their spreads and are considering jumping ship.
FXCM would probably be my recommendation if you have less than $10k, if you can afford an account at IB or Citi, I'd probably opt for that.

Judging by your question, those are probably out of your reach. However, if you're just demoing then Oanda is fine.

>>69180

With Oanda, the time of day seems to matter. It seems like between 5-6pm spreads are high. But the average after that dips significantly lower.

>>69972
well what I was getting at is that they've increased from what they used to be on Oanda itself. According to the people I know trading with them they've just about doubled. High spreads used to be ~7-8 pips, now they're getting into double digits and hitting 16ish at high times.

That just seems insane.

>>70014

Wow. Yeah those high spreads are killer for sure. Double digits (especially for major pairs) is pretty freaking outrageous.

I'm only dealing with the USDJPY for now, so I haven't been hit too bad. Plus I tend to trade at off-peak hours due to my weird day/night job schedule.

>>70014

But thanks for the heads up. I'll keep my eye on them.

Before I get too excited about this how much capital would I need with a moderately leveraged account to make 75 USD a day with a conservative strategy?

>>70635

$60000.

>>70635
at least $1000 and you have to be good at what you do because that means you need 375 pips of profit a week using micro lots. This doesn't even factor in losses, That changes the picture significantly.

>>70635

At least $3k I'd say. You'll be able to put down bigger money, thus improve your returns on small 10-20pip closes.

Personally I'd go with something more like $5k. You never know when a sudden shift can turn something good, into a loss.

>>70735
Not him, but what would be a more realistic earning per day?

>>70671
>>70735
>>70833

Are these all before leveraging? 60k seems like it would be after leveraging. Wondering how much I need to save up to get a decent start. Obviously going to be using a practice account until I do make enough. Fortunately I believe I have good credit

>>71639
Well, the market varies by day so to try and make a certain amount per day is very difficult, I would rather make a certain per month which is what I do now. Realistically with a $1000 account you could maybe make $1000 a month conservatively. It all depends on your leverage though.

For example, I use 500:1 leverage on a $10 000 account, but I go for big pip profits over days, I never scalp, I don't recommend anyone scalps because it is the realm of algorithmic programs that are faster than you and you will lose eventually because of the costs associated with many trades being opened.

It's theoretically possible to make big returns with small capital but you have to take big risks and have high leverage. Not recommended at all.

>>71817
Hmm, so you trade longer and ride larger trends rather than go for day by day movement. Makes sense. Basically trying to make a NEET living in a shithole economy.

>>71817
So scalping basically means having many trades at the same time?

Also, stupid question, but how can I leverage? I just recently started but every morning I'm putting my time in to learn this stuff.

>>71878
Leverage depends on your broker. Basically say you have $1000, if your leverage is low that means you have to put in more money as margin to open up a trade so naturally you won't be able to open big positions or many positions at once. If your leverage is high you can take exposure to more and make more money but you can also lose more money.

What I do is use high leverage to take reasonable positions and so I don't have to put too much money in my trading account, it's not easy to do though because your temptation to get greedy is always there, I've been doing this for 4 years and I still get greedy/fearful, I just control it better.

TL;DR: high leverage is good if you have low capital but its risky too because its so easy to get greedy since you require less margin to open positions

>>71743

Yeah, before leveraging. You "could" hope to find a broker that will take you on for something like $500. But it'd need to be someone outside of north america. Here we're restricted to 50:1 max leverage because our governments are fucking retards.

You'd have to bet your entire investment each trade, and hope you win big with that kind of cash.

Somewhere in the area of $3k and up can give you enough freedom to trade with say $1k per trade (if you're okay with putting down 1/3 of your equity). Even with shit leverage you can still pull in close to $100 with a 20 pip trade.

>>71878
Sorry, I forgot to explain scalping.

Scalping is when you trade for short periods of time trying to "scalp" a few pips at a time, it's fine in theory as you build up profit over time, the problem is every time you trade you pay a spread/commissions so it's not easy to make a few pips every trade, especially if you use a tight stop loss because the market can move against you very quickly regardless of whether you are right or not.

Similiarly, if you use a wide stop loss, say 200 pips and you go for 10 pips, all it takes is one loss to wipe out 20 wins so your win rate has to be exceptionally high to be profitable. Factor volatility into this and you end up losing to trading bots that don't pay commissions or spreads because the banks own them.

I've recently become much better at trading.

The trick is: control your greed, control your fear. Be impatient with losses, set stops no matter what.

Also set stop/limit orders to get into a position once something is confirmed! Like on this chart here, I'll short automatically (a small position to test the waters!) when it goes below the SMA100 line.

If anyone thinks I'm retarded, tell me.

>>72507

>The trick is: control your greed, control your fear.

Yup thats the biggest part about trading especially in forex. Control the emotions and you should be able to pick up trading with enough practice.

>>72534
>>The trick is: control your greed, control your fear.
>Yup thats the biggest part about trading especially in forex. Control the emotions and you should be able to pick up trading with enough practice.

I can't stress that enough. I lost my cool, and lost $700 in a day.

I regained my composure, and remained patient. Made back $120 of that the day after.

>>73514
Was the loss due to waiting too long on a short because you thought you could squeeze another hundred or so out of it? What sets off your fears?

>>73580

My plan is swing/positional trading.
Look at the market. Open a bid, wait a couple of days.

However, i caught on to a really good trend. I placed about six 10 pip trades, and profited almost 20% of my equity in not even 3 hours.

It was fucking glorious.

Then I got ahead of myself, and placed 3 longs instead of 1. The movement stalled in the market, then it plummeted like a cunt.

Decided to carry the trades over the weekend in hopes of recovery (most recovery attempts worked in the past. So I thought HEY! THIS SHOULD WORK!!! XD).

Sunday night, shit got worse, and I lost all 3. All by max stops. Only $300, but still 30% of my equity.

Got stupid, and tried to make it back with a 200:1 trade.

Got a good chunk (if I clicked "close"). Instead, not only did I not profit $70, I lost another $225.

I got greedy and dumb. Fortunately, it was on a $1k account, and not on a $10k account.

I've managed to grind out about $110 over the past couple of days. Got back on my plan, and things are looking up again.

Sorry if it was more than you were expecting, but that's what happened. Sucks I lost like $500-$600. But in a way it's good I learned from it, and didn't open up with a $10k account and drop 50% due to stupidity.

>>73689
Better to much than too little when sharing experiences. Still chewing my way through babypips but I can follow what your saying.

>>73778
>>73689 here

If you want to open more than one position on a currency, IMO, pick a short-term gain, and a long-term gain. Try and find a broker that will "hedge" (aka. let you open both a buy(long) and a sell(short) on one curency). Sometimes I think a currency will run up for a minute, then take a day to saunter down. So I do both, sit back, and wait for both to profit.

Shit's tricky, everyone has a different strategy, but if you know how to look out for banks, you'll turn a profit.

>>73689
>Then I got ahead of myself, and placed 3 longs instead of 1. The movement stalled in the market, then it plummeted like a cunt.
>Got stupid, and tried to make it back with a 200:1 trade.
Oh, man. I know that feel very well.

>>72507
>that chart
>blue background
You're retarded.

New London Session thread

>>74185

>>73819
Oh yeah, do you worry much about interest rates on your long-term gain pics?

>>73978
Lol what?