/biz/ - Business & Finance

[Anonymous No.1190620]

- Anyone here have a successful and durable experience in forex trading ?
- What's techniques did you use ?
- With how much money did you begin ?
- Gives me advice for a beginner like me, please.

I am really sad when i read specialized forums in forex, why?
Because all the trading journal I read ends the same way :
They end up losing all their gains and have their account to 0 dollars, after 6 months or 1 year.

I need testimonials from people who really live forex successfully since several years.
http://forums.babypips.com/newbie-island/70214-truth-about-forex-you-cant-become-rich.html


I think this method is the best to learn forex or index cfd:

Depositing tiny amount less than € 200 and try to make it grow until 1000, once in 1000 reached 900 withdraw.
With the remaining € 100, try to grow them again to € 1,000, remove 900 ... etc.
Do it 10 times successfully
Instead of dropping € 50,000, losing after six months, redeposit € 20,000 and lose again after one week.

Warning : this thread is only for winner in forex market.

[Anonymous No.1190647]

>>1190620
I invested my forex profits in TRUMPS

made my 200$ grow into $20,000 in 2 months

[Anonymous No.1190664]

>down $5000 in my practice account today

ah yes, a day of successful forex trading

[Anonymous No.1190672]

>>1190664
>down $5000 in my practice account today

bad money management and too big leverage

[Anonymous No.1190805]

>>1190672

and not stop loss

[Anonymous No.1190889]

[Anonymous No.1191009]

>>1190620
How many fucking times are you still going to post this?

[Anonymous No.1191278]

>>1191009
dude
bro
lemme splain sumin' to ya
forex
ya hear?
foreign exchange
easy 10% PER DAY
just click buy, then click sell
IT'S THAT EASY
it's like finding waldo in pic related
>pic related: it's waldo

[Anonymous No.1192509]

forex is dangerous.

[Anonymous No.1192515]

>you will never be a George Soros tier Forex trader

Why even live?

[Anonymous No.1192522]

forex can be your worst nightmare.

[Anonymous No.1192529]

>>1192515

Not even Soros can make money in currencies now. Read Alchemy of Finance.

[Anonymous No.1192530]

>>1190664

You are shit and will always be shit. Switch the buy button with the sell button but don't let yourself know.

You will be doing the total opposite to your instincts, you'll be making $5k a day.

[Anonymous No.1192828]

>>1192509
>he didn't anticipate the need to edge against a possible floor removal
>he trades with a broker that didn't hedge the move

Great news, either way. Either you hedged the bet, or you went and bought shares of the brokers who fucked up. (like FXCM) and doubled your money.

[Anonymous No.1194107]

>>1192522
would you say a plywood shack is better/worse than a house made out of dirt?

[Algorithmic Oil No.1194289]

>>1192522
Brings back some pretty horrifying memories :') *sighs* BitcoinWisdom

[Anonymous No.1195004]

I used to trade fx for a few years, but moved to US equities.

Now I only trade Dow Jones futures, it's far easier to grasp what the fuck's going on, at least for my trading style.

[Anonymous No.1195165]

>>1195004
>I used to trade fx for a few years,

with success ?

[Anonymous No.1195208]

>>1195165
ofcourse not. we havent seen a profitable retail trader in forex past 10 years. spread and slippage destroys every retailer, every single on of them. now there are much easier markets than fx ofcourse.

[Anonymous No.1195222]

>>1192828
>FXCM

I was a bag holder on that one. Reverse 1/10 split was pretty cool too

[Anonymous No.1195226]

>>1195208

you have lost a lot of money on forex market ?
how many dollars ?

[Anonymous No.1195250]

>>1195208
i used to work at a retail FX broker, and there were profitable retail traders, someting like 20-25% actually. however, the profits they made were very small. not a single one of them made more than $30k in a single year. most of the "profitable" traders made less than 1k in a given year.

[Anonymous No.1195261]

>>1195250
>most of the "profitable" traders made less than 1k in a given year.

with big capital or little capital ?

[Anonymous No.1195265]

>>1195250
absolutely not. or then you are talking somebody who trades once a month, thus their profits were 100% explained by luck.

trade intraday, or even once a day or two, and you are doomed. fx is too effiecient, too fast, even 1pip destroys every retailer,

[Anonymous No.1195269]

>>1195250
the best individual trader as you saw, he won how many dollars? with what capital?

[Anonymous No.1195288]

>>1195265
there were absolutely people that traded every day /several times a day and still made a profit. but like i said, the profits were very small. nobody made a living from this, but they did make small profits.
>>1195261
nobody has "big capital" at retail FX brokers, if you have money you can actually trade with decent firms.

[Anonymous No.1195292]

>>1195288
>with decent firms.

qive example please.

[Anonymous No.1195298]

>>1195288
>decent firms.

give example please

what's your income in your retail trader ? what's your job ?

[Anonymous No.1195307]

>>1195298
>what's your income in your retail trader ? what's your job ?
ive never been, and have no plans to ever be a retail trader. i think being a retail trader is a losing game in the vast majority of cases.

[Anonymous No.1195372]

>>1195298

>decent firms

Something tells me you're not in the US. Just Google for institutional ECNs in your country. You'll know if they are legit if they have a large minimum deposit. Interactive Brokers is a good one.

[Anonymous No.1196510]

.

[Anonymous No.1196752]

>>1195372
interactive brokers provides an FX aggregator service rather than an ECN but yeah it is a fuck load better than the typical retail FX bucketshops

[Anonymous No.1196769]

>>1196752
others to look at are FX futures on the CME and LMAX

LMAX is an ECN though if you're not a liquidity provider you don't get to work limit orders there on the bid/offer but have to cross the spread... so in effect not to different to using an aggregator anyway

there are other places that claim to be ECNs but seem dubious - less transparency regarding their microstructure and rules they have in place for liquidity providers... in some cases the main liquidity provider being owned by the same parent company as the ECN... so essentially just a marketing tool to claim they don't use a dealing desk when they do

if you're really big then you use EBS and Reuters - that is where most of the liquidity is... there are also FX ALL, Hotspot, Currenex - though to some extent the liquidity you see can be dictated by the credit arrangements your broker has with other counterparties using the ECN and really it just isn't an option for retail traders

basically interactive brokers, LMAX and FX futures on the CME are the main options for retail punters who are not complete retards and understand the impact of transaction costs, crossing the spread and the implications of your 'broker' also being a counterparty.

[Anonymous No.1196790]

>>1196769

you win a lot of money with trading ? this is your job ?

[Anonymous No.1196879]

>>1196769

FXCM is a bad broker ?

[Anonymous No.1196902]

>>1196879
god yes they are scum

[Anonymous No.1197148]

Is this true you cant make money in forex? The reason why I havnt started trading in forex or in any other market is because I dont think I have an edge in this game. There's probably 10 000 guys that are not getting laid this saturday night dreaming about becoming rich and probably 9000 of those are already smarter than me, so wheres my damn edge?

Someone said you shouldnt beat the market but follow it, that however I can understand and have a profitable outcome with

[Anonymous No.1197159]

Forex is a scam which is why they're able to invest gazilliions in advertising and seminars etc.

They're at the end of every trade and make sure you loose via artificial slippage etc.

With forex jews you lose...

[Anonymous No.1197187]

>>1197148
>Someone said you shouldnt beat the market but follow it, that however I can understand and have a profitable outcome with
ok so do that, whats your question?

[Anonymous No.1197248]

>>1197187
Why are people making claims that forex is unprofitable?

Short term and extreme short term I guess its pretty much a coinflip for a scrub like me, but when talking longterm its probably not. But then again, why would I invest 200$ to only profit 20$ over a few months time when I could instead been blowing some dude in the parking lot and make a lot more $$$ than trading with shit sums

[Anonymous No.1197270]

>>1197248
Everyone wants to be le daytrader and gets fucked by fees and algorithms.

Forex is profitable for sure, if you have a good understanding of markets/central banks.

[Anonymous No.1197289]

>>1197270
Kek I guess, quick money right?

Man it would be beautiful to fully understand why GBP and USD has lost ground to everyone else since january

[Anonymous No.1197468]

Ok I'm the Alaska dirtbag house building guy who's room you guys keep posting! Honestly I've made more money and gains investing in cryptos biz shills than anything else in my life. If I didn't make Bitcoin I wouldn't have money to blow on tradeing forex so :) there is lotsa money in memes

[Anonymous No.1197476]

>forex trading

all algos and rigging, good luck

[Anonymous No.1197483]

>>1196879
KEK

its a fucking bucket shop you muppet... what do you think?

http://www.cftc.gov/PressRoom/PressReleases/pr6119-11

>Forex Capital Markets LLC Ordered to Pay More Than $14.2 Million

https://www.fca.org.uk/news/fca-fines-fxcm-uk-4-million-for-making-unfair-profits-and-not-being-open-with-the-fca

>he Financial Conduct Authority fines FXCM UK £4 million for making ‘unfair profits’ and not being open with the FCA

https://www.nfa.futures.org/news/newsRel.asp?ArticleID=4447

>NFA fines New York firm Forex Capital Markets LLC $200,000 for conducting business with an unregistered entity and failing to submit trade data to NFA

[Anonymous No.1197484]

>>1197468

Any tips on Forex?

[Anonymous No.1197485]

>>1197483
read the UK link if it wasn't abundantly obvious why re-quotes only tend to go against you with these 'brokers'

>Between August 2006 and December 2010, the FXCM Group kept profits from favourable market movements between the time the orders were placed by FXCM UK and executed by the FXCM Group, while any losses were passed on to clients in full – a practice known as asymmetric price slippage.

>FXCM UK also failed to check that its order execution systems were effective, and whether its order execution polices complied with the FCA’s rules on best execution.