/forex/ general

[4LG0 !A3KWOkWo6E No.12053689]

/forex/ - Forex Market General

GOLD RUSH EDITION

>STICKY

>I'm new to the forex market, what are the fundamentals and how does anyone make money on such "small moves"?
Forex market is the biggest and most liquid market in the world, meaning brokers afford you to take huge leverage.

List of popular brokers:
xm.com
icmarkets.com

Educational sites:
babypips.com

Free in depth techincal analysis charts:
Tradingview.com

What are you looking at big dicks? Sorry for lack of threads, was really busy and still am until February.

Had a nice run with trading GOLD this week, but got fuck kind of on day trading oil.

My plan this week, shorting GOLD on 1250$, then buying when it reverses. Hopefully indexes bleed more.

[Anonymous No.12053698]

>Open /biz/ Catalog
>CTRL+F
>FOREX thread
>Close /biz/

[4LG0 !A3KWOkWo6E No.12053704]

>>12053698
Glad you made a comment before you closed /biz/ and bumped this thread.

[Anonymous No.12053746]

>>12053689
Hard to believe palladium is roughly same as gold.

Been trading forex for years; if you are new to forex this may be the best time to learn because volatility is rather low compared to past ten years.
Start small, learn charting and price leveling, immerse yourself in it and you will fail at first but eventually become enormously successful. Avoid this crypto shit, its cancer.

[Anonymous No.12053769]

if oil doesn't go up next week i'll be very poor

[4LG0 !A3KWOkWo6E No.12053777]

>>12053746
lol, volatility this year has been great:

usdtry
usdzar
eurusd
oil
gold
indexes

[Anonymous No.12053812]

>>12053777
checked
eur, gbp, cad vs usd is 90+% of my trades, rest mostly index

[4LG0 !A3KWOkWo6E No.12053847]

>>12053812
ye, but usdcad is basically eurusd + oil anyway, self explanatory.

I think I had few USDCAD trades also.

[Anonymous No.12053855]

>>12053689
what about trading systems on forexfactory? anybody go there?

[Anonymous No.12053858]

Made a nice profit on gold after NFP

[Anonymous No.12053872]

>>12053847
I did trade all sorts of pairs long ago but concentrating on a relative few has been immensely better and profitable.
Note to everyone reading this, ...try forex for a few months paper-demo trading and see if you like it.

[4LG0 !A3KWOkWo6E No.12053874]

>>12053858
It's not just NFP, it's also the fact that indexes are dropping like rocks.

[Anonymous No.12053876]

>>12053855
i think its probably best if you spend the time to develope your own

[4LG0 !A3KWOkWo6E No.12053884]

>>12053872
Yeah, sometimes I feel like I completely understand what EURUSD is doing.

I'm pretty comfy in indexes and EURUSD, USDCAD, GOLD. However, I jump in when I see things are getting out of hand in once direction due to TA.

[Anonymous No.12053896]

any thoughts on usd/jpy? looks like the up trend is weakening

[4LG0 !A3KWOkWo6E No.12053937]

>>12053896
I wouldn't go against this trend. +EURUSD is probably going to get pushed up by GOLD rising also, in case indexe bleed even more.

[Anonymous No.12053981]

Do you guys think EURUSD will revisit the 1.12 lows again?

[4LG0 !A3KWOkWo6E No.12053994]

>>12053981
It did already by breaking 1.13 and going to 1.121?

[Anonymous No.12054004]

>>12053981
depends on how much brexit fud gets put out, but if i had to guess i'd say yes

[Anonymous No.12054065]

>>12053994

Yeah, I mean will it do it again soon?

[4LG0 !A3KWOkWo6E No.12054083]

>>12054065
Personally I don't think so. GOLD is probably going to cool down a bit from this run up to 1250$, but it's still on a bullish run and indexes don't seem to be cooling down. Will this small cool down cause EURUSD to visit 1.12 again? I don't believe so, maybe 1.13, but that's about it.

It just tested 1.142, I don't think it will bounce down so hard.

[4LG0 !A3KWOkWo6E No.12054096]

>>12054083
Fundamentally speaking and what news are coming out and what's to expect, ask others. If there's a big cataclyst happening, idk.

[Anonymous No.12054113]

>>12053689
look at all the previous declines in gold.. they all follow the ABC correction pattern.. gold respeccs EW

we are looking at one more leg down for gold and i suspect the fed are going to postpone the rate hike and we will see a final death rattle of the stock market and the bell tolling for the dollar

[Anonymous No.12054123]

Faggots.
The house always wins in the end.

[4LG0 !A3KWOkWo6E No.12054141]

>>12054123
I wouldn't know, perhaps you and your newly bought kneepads do.

[Anonymous No.12054142]

>>12054113

You mean postponing the December rate hike or future ones in 2019?

Everyone says December is a given rate hike due to all the previous data coming out.

[Anonymous No.12054152]

WHAT IS THE BEST AND EASIEST BROKER?!?!?!?!?!?!?!

I HATE BOOMER REGISTRATION!!!!!!!!

IS THERE A WAY TO ENTER FOREX WITH CRYPTO!?!??!?!?!?!?!??!

TETHER?!??!?!?!

[Anonymous No.12054162]

>>12054142
ehhh i think 2019..?

im no expert.. it's just with the recent statements about being only mildly below average and unironically listening to peter schiff's podcast.. im not forex trader so not financial advice lol

[4LG0 !A3KWOkWo6E No.12054175]

>>12054152
DJI had almost 100% rise in less than a year, then correction another test of top and is now falling like shit after G20.

You can't compare this situation that is unfolding to anything before 2008.

[Anonymous No.12054178]

>>12054142
but i know EW works especially with crypto and i have heard forex traders say that gold follows TA pretty well and some of those declines look uncannily like EW waves and big whales need long liquidity to sell into so there is always a spike (B) in the middle of an ABC correction

[4LG0 !A3KWOkWo6E No.12054186]

>>12054175
less than 2 years*

[Anonymous No.12054198]

>>12054175
>DJI
look at the chart again.. even this last shit follow an ABC correction pattern

[4LG0 !A3KWOkWo6E No.12054199]

>>12054178
I hate EW waves desu. It's too much of a wishfull thinking desu.

[Anonymous No.12054207]

>>12054152
go to evolve.markets
i have several accounts with them, have had zero problems withdrawing or depositing.

Big concern is if the price of btc goes down, so does your purchase power for lots so it has to be monitored until you get the hang of it

[4LG0 !A3KWOkWo6E No.12054208]

>>12054198
Whatever floats your boat, but I find them to be incredibly retarded to predict future. Anyone can look back and say 'it followed "x" pattern according to EW'.

[Anonymous No.12054221]

>>12054175
and you could say DJI is ranging now but if you look at each of downtrends they all follow EW and gold is trending but what reason do you have that it wont follow the fractal pattern?

[4LG0 !A3KWOkWo6E No.12054239]

GE looks like a nice buy right now and also:

https://twitter.com/HFTAlert/status/1071417733529497600

[Anonymous No.12054240]

how do you counter the argument "if trading forex using x method worked everyone would be doing it"

[Anonymous No.12054249]

Okay faggots, let me give you a rundown on WHY you will never make money on either shitcoins or FX:

1) All the demo practice accounts in the world will not prepare you for real live trading.
2) ECN accounts keep small lot size trades 'in house' while other larger lot sizes go through to interbank.
3) Bigger size traders will swamp your relatively small trade.
4) 'Retail' traders even with a VPS are still at a massive disadvantage because of internet connection, lack of funding etc.
5) Backend programs like MT4s 'Virtual dealer plugin' will make sure you loose money.

I could go on and on...

[Anonymous No.12054254]

>>12054208
>>12054199
read misbehavior of markets by benoit mandelbrot.. price patterns are fractal and i was calling tops all the time in the ranging market of crypto using EW although i had to readjust when it started trending and we got wave extensions all the time

i used to think the same as you but it's invaluable knowledge although of course not the end all be all... and ofc this isn't financial advice

if i were playing forex rn i would just be aware of it but still play the uptrend and be ready for another downleg

>>12054207
thnx

[4LG0 !A3KWOkWo6E No.12054261]

>>12054240
By showing them your bank account or winning trades with this same exact method over and over again. I'm pretty sure that should shut up anyone.

>>12054221
draw me what you see and let's go through it.

[Anonymous No.12054274]

>>12054249
>Virtual dealer plugin
listen to dante's vids where he recounts how he use this as his advantage to play brokers against eachother

[Anonymous No.12054276]

>>12054240
just substitute 'trading forex' with 'anything under the sun a human can do, think or believe' and you got your answer

[4LG0 !A3KWOkWo6E No.12054286]

>>12054249
Do you think any of us will stop trading? I make money and stick to my strategy and feel comfy swing trading. Nobody cares, if you believe none of us will make money. Every one does with their money what they want to. I won't tell my neighbour to stop buying horse dildos, if I know he's doing fine with life and throws money at something he enjoys.

We are all just ignoring comments like this.

[Anonymous No.12054303]

>>12054261
smthn like dis?

[Anonymous No.12054305]

>>12054274
>>>12054249 (You)
>>Virtual dealer plugin
>listen to dante's vids where he recounts how he use this as his advantage to play brokers against eachother
Post link.

>>12054286
>>>12054249 (You)
>Do you think any of us will stop trading? I make money and stick to my strategy and feel comfy swing trading. Nobody cares, if you believe none of us will make money. Every one does with their money what they want to. I won't tell my neighbour to stop buying horse dildos, if I know he's doing fine with life and throws money at something he enjoys.
>We are all just ignoring comments like this.
Good goyim.

[Anonymous No.12054313]

>>12054249
i've consistently made over 200k per year over the past 5 years. i cant prove it to you here in this forum, but 'never' isn't applicable to my situation. I will say I failed miserably for the first few YEARS but I kept my day job and kept at it. Like every other job out there, you learn the ins and outs and the 'tricks of the trade'.
I wish you luck though...persevere.

[Anonymous No.12054321]

>>12054249
They needed that. All of this is true, better to just save up some good money and invest in something more reliable....

[Anonymous No.12054322]

>>12054303
So how would you know when to enter?

Even a child could guess the direction of a market from looking at a chart and be correct allot but actually placing trades and making a profit is the difficult part

[Anonymous No.12054324]

>>12054261
i mean like dis ;)

[Anonymous No.12054329]

>>12054305
your bitterness is palpable or as they say on /pol/
S E E T H I N G

[Anonymous No.12054343]

>>12054305
https://youtu.be/v5KOy-JxGFU

https://youtu.be/mBTozfQawKQ

i forget which part of the vids he talks about it but theyre both great listens

>>12054305
>Good goyim

nah that's you because you can think outside the box and use their edge as an edge against them.. for example i like to fade stop hunts

[Anonymous No.12054361]

>>12054322
with confirmation

enter in at wave 2 or 4

https://www.xm.com/education/chapter-2/swing-trading

or after 5 waves previous.. or ladder in and oujt

[Anonymous No.12054371]

opposite way

[Anonymous No.12054404]

>>12054361
okay cool but how do you determine what is and isn't a valid wave?

[4LG0 !A3KWOkWo6E No.12054405]

>>12054324

I see, technically I agree it's a good buy. Plus TRUMP just tweeted he was cleared of Russian colluding investigation, so a bit of hope for indexes this week. We'll see how it goes from there on. I'm short on gold anyway, but for how long I'll see.

[Anonymous No.12054420]

>>12054404
judt to be specific i mean

[Anonymous No.12054422]

>>12054405
Oh Trump tweeted he's cleared?

Cast iron guaranteen innocent then.

[4LG0 !A3KWOkWo6E No.12054446]

>>12054405
If anyone wants the most "simple and stupid easy, but it works" strategy. Just use RSI and MFI on 4hours and whenever RSI<25 and MFI<20 go long and vice versa for short.

You can even plug it in right now on any asset and do some backtesting to see how many time this would work on different timeframes. If there's some old strong resistance or support and fundamentals coming into it, then so much better.

inb4 gonna be called a goyim for saying something anyone can check out for themselves

[4LG0 !A3KWOkWo6E No.12054454]

>>12054422
It doesn't matter if it's 100% true he's cleared.

Positive tweetes mean positive reaction in markets.

[Anonymous No.12054463]

should i buy dollars now
i am a eurocunt, and with the fed hold the rates i am afraid that it will be a "go" sign for a dollar rarity again

[Anonymous No.12054481]

>>12054404
>>12054420
experience and time? lol.. each of the waves is fractal so you can tell which degree you are looking at because they look the same on big and small time scales

read some books ;)

>>12054405
hmm ok ;) idk if it's a good buy tbqh but i would wait for confirmation somehow but im more of a shitcoin trader

[Anonymous No.12054489]

>>12054420
basically eacho of those waves breaks down to 5 smaller waves

[4LG0 !A3KWOkWo6E No.12054492]

>>12054481
Always wait for confirmation lol.

>>12054446
Also this shit seems to work the best on 1h charts.

[Anonymous No.12054503]

>>12054405
oh yeah and also you can see that A and C of ABC are usually equal in length and this last C of DJI is shorter than the A so there looks to be more room down

[Anonymous No.12054517]

I've been holdiing EUR/USD bags @ 1.141 for like a month now waiting for that 1.16 rebound

this fucking game sucks

[Anonymous No.12054586]

>>12054517
same >>12054463
i need an advice too, since the FED hold the rates

[Anonymous No.12054617]

>>12053746
xpd in his sites....

[Anonymous No.12054675]

I just trade trendline breakouts and enjoy my nice 3.4:1 at 7% winrate
Kek

[Anonymous No.12054789]

>>12054675
7%? or 70

[Anonymous No.12055468]

any ideas trailing stops?

[Anonymous No.12055480]

>>12053689
Go short on usdchf if gold goes up