/biz/ - Business & Finance

[Anonymous No.11792021]

Does /biz/ trade forex?
Why the fuck not?

[Anonymous No.11792056]

yea man its really fun

[Anonymous No.11792187]

>>11792021
There’s really not a lot of growth and money making potential in the well established forex markets for small time traders like most of us here are

[Anonymous No.11792234]

>>11792187
Sure there is. Just gotta spend a few years mastering the markets. 100% growth over a year is easily possible.
You don't have to have $100k to start trading.
Just start with small $100 throwaway accounts until you are confident with yourself and then you can start trading for real with 10k nest egg. 5 years of consistent 100%/year turns 10k into 320k

[Anonymous No.11792602]

>>11792234
Yeah I suppose, I do like the relative stability and high volume of forex, what trading style do you use? Swing trading or long term holds?

[Anonymous No.11792766]

>>11792602
Swing trading. I'm just came back after a few years. Opened a 10 euro play micro account a few months ago just for shits and giggles, it's sitting at 26 euros now.
I'm planning to study up on fundamental analysis to apply to my trading once I decide to enter the market again.
I'm enjoying my time atm.

[Anonymous No.11792949]

Sure do, GBPUSD is my boo

[Anonymous No.11793310]

>>11792949
im looking to potentially sell gbp/usd tommorow on the 1h, what about you?

[Anonymous No.11793341]

>>11792602
I trade short term fluctuations on the 1h

[Anonymous No.11793350]

Every forex trader here loses

[Anonymous No.11793372]

>>11793350
Nobody wins 100% of the time

[Anonymous No.11793386]

>>11793372
no, I mean they lose overall.
Not a single successful person with track record even a year in length

[Anonymous No.11793394]

>>11793386
Proof?

[Anonymous No.11793403]

>>11793394
wtf? YOU give ME proof of a successful forex trader

[Anonymous No.11793416]

>>11793403
I think the reason nobody talks about forex is because bitter fags like you always turn up

[Anonymous No.11793447]

>>11793416
I know the truth hurts you, but actually no one talks about it because they lost all their money, like you will :) also its souless leveraged trading thats almost never tethers to fundamentals

[Anonymous No.11793461]

It's hard as fuck and none of the strategies you will find online will work.

[Anonymous No.11793477]

>>11793341
How do you deal with he noise? Do you avoid the market during news days?

[Anonymous No.11793584]

>>11793477
not really unless its major stuff like brexit etc my method seems to mostly avoid noise anyway.

I basically just wait for the market to close against the trend then buy/sell the next day accordingly

[Anonymous No.11793602]

>>11793461
If you could just google it and start making loads of money then everyone would

[Anonymous No.11793753]

forex is the most unforgiving market there is. not even bogs and presidents can fully influence this market

[Anonymous No.11793830]

>>11793753
and whats wrong with that? the market will move where it wants to move, a trader only needs to latch on

[Anonymous No.11793871]

>>11793830
if you can control yourself and not overleverage you might be ok. Leverage is the one thing that makes forex so dangerous, if you get hooked on it you will lose everything in a matter of seconds

[Anonymous No.11793888]

>>11792021
Thoughts on EUR/USD long term?

[Anonymous No.11793909]

>>11793871
I think you've got to be either very uninformed or just stupid to willing risk your whole account.
funny how so many people that shit on forex trading becuase they lost money don't even realise they were gambling and not trading

[Anonymous No.11793920]

>>11793909
are you a bank? no? then you are gambling. Only banks trade forex

[Anonymous No.11793922]

>>11793888
dunno im not psychic but could be bullish for a little while

[Anonymous No.11793940]

>>11793920
whats the difference between trading for a bank or trading just for yourself?

[Anonymous No.11793966]

>>11793940
banks have information you don't have, they have information about money flows and big transactions. If you are a forex day trader and you don't work at a bank you are a 100% gambler

[Anonymous No.11794057]

>>11793966
Then how do they still lose sometimes? Otherwise they would have absolutely insane profits

[Anonymous No.11794094]

>>11794057
Exactly, not even banks themselves can consistently make profits with forex because they are too small to have any big impact on the market.

Banks mostly use forex trading for hedging, to basically protect their money from a volatile market not for investing.

[Anonymous No.11794198]

>>11794094
Okay then so what about guys like George Soros? Was he trading or gambling when he sold the GBP?

[Anonymous No.11794289]

>>11794198
Soros was smart but it was also a gamble. Its winnings were based on a change on policy not a market movement directly. Which is another thing, if you gonna trade forex not only you will have to know everything about TA but also have to watch global news and policies enacted by central banks

[Anonymous No.11794339]

>>11794289
Fair enough, thanks anon

[Anonymous No.11794530]

>>11792187

>not a lot of money making potential
>most liquid market on earth
>extremely high leverage available

Based and bluepilled

[Anonymous No.11794533]

>>11792234
don't you need a minimum of 25k to day trade? i might be wrong

[Anonymous No.11794595]

>>11794533
depends, if you want trading to be your livestyle then sure but until then you can make a good income with less, I'd say 2k minimum

[Anonymous No.11794623]

>>11793966

Frontrunning is illegal anon

[Anonymous No.11794713]

Forex is for virgins
I trade 6e futures

[Anonymous No.11794745]

>>11794713
cool, how did you get into it?

[4LG0 !A3KWOkWo6E No.11795250]

>>11793888
Depends on DJI, let me explain. GOLD and EURUSD are correlated, that means, if EURUSD is strong, GOLD falls and vice versa.. Now the thing is, DJI is most likely going bearish, but meanwhile I'm pretty sure there will be a lot of volatility and confusion, which will result in uncertainty of markets and rise of GOLD. From TA persepctive it's also holding 1200$ area (1000€ in Euro), which is a strong support.

Second thing is USDTRY and USDZAR is cooling down.

Therefore, GOLD will rise and EURUSD will weaken for some time I believe. If EU zone gets fucked further by Brexit, then wait for the sentiment and put in position.

[Anonymous No.11795260]

>>11793310
Same depending on how the 4hour candle closes before London open!

[Anonymous No.11795278]

>>11794713
>investing in niggercoin

[Anonymous No.11795307]

>>11795260
Shame this thread will be dead by that time so we can't update eachother

[4LG0 !A3KWOkWo6E No.11795374]

>>11795260
It's based on EURUSD and not a 4h candle close you conspiracy theorist lol, also Brexit

[Anonymous No.11795414]

>>11795374
Im pretty sure he's using the 4h candle close as a bias confirmation and entry technique

[Anonymous No.11795416]

>>11795374
No conspiracies dude, just tells me what price ranges it could and couldn’t conquer.

[Anonymous No.11795437]

>>11795307
Yeah I kno right, I’m a bit cautious that it’s near a support zone on the daily so I’m not going to hold my breath for a big move

[Anonymous No.11795497]

>>11795307
If I get confirmation to short I’ll probably take profit at the blue zone

[Anonymous No.11795518]

>>11795497
same, i usually have a 2.5x profit target of my trade risk so only aiming for about 80 pips

[Anonymous No.11795639]

>>11792021
I don't. Monetary policy isn't as interesting for me as following company news. Thus, I don't have the same drive for forex as I do with equities, and so I don't think I could succeed in forex. If you like it though, the money can be great. One of the biggest if not THE biggest, most liquid markets you can trade on the planet.

[Anonymous No.11795653]

>>11795497
I'll make a thread later depending on what happens

[Anonymous No.11795730]

>>11792021
are you the faggot that keeps calling me from different phone numbers trying to shill your fabolous forex trading platform?
>I'm not a salesman, I'm a technological evangelist
>Just slice off $500 of your crypto and start making real money

[Anonymous No.11795771]

>>11794745
My friends moms boyfriend unironically.
blue arrow is buy
pink arrow is sell

[Anonymous No.11796038]

>>11793386
Autistic Alaskan trader was winning for years

havnt seen him post since 2016 though, because he couldnt keep the forex generals alive on his own

[Anonymous No.11796052]

Any good brokers for Canada?