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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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19107637 No.19107637 [Reply] [Original]

How come no one on biz trades Forex? I’m here to create a forex general. Feel free to repost shit too, biz needs a forex general.
- FOREX RULES -
>NO PDT RULE
>highly volatile
>can trade anytime

>> No.19107711

>>19107637
Bump

>> No.19107814

Find some links and post them if you want a forex general. Most /biz/lets here know jack shit about the markets they are in already. Post some useful lunks apart from babypips and then we can talk. I like forex and would like to see more forex threads but we will be attacked by cryptofags for "invading" their board. Gib links, make some good posts and let's drive the cryptofags away.

>> No.19108152

>>19107814
>>19107711
I’ll put more effort into
It next time I’m just waiting to see potential response

>> No.19108294

>>19108152
Forex threads don't get any traction here bc they combine qualiteis hated by both cryptofags and stockfags. 24hr market and high leverage are despised by stockfags and low volatility is hated by cryptofags. Also high dependency on geopolitics makes forex a bit not worth the effort but TA could be more accurate compared to crypto imo. It's also hard to get more people on forex these days bc in order to make the topic more visible you have to compete with a horde of crypto shills who make 10 threads/hour for their shitcoin. as a result threads with little interest to the average /biz/tard are slid into oblivion from the countless shitcoin threads.
>inb4 /biz/ is a crypto board
Tbdesu I hold some chainlink but this shitcoin opened the floodgates for shills to fill the board with countless threads per day on this board. Now watch how soon this thread will die if no more people show up, apart from the cryptofags who will come here screeching for what I posted. Which is all true

>> No.19108815

>>19108294
Forex seems good for crypto fags due to high volatility and high leveraged options trading. But I agree with 99% of what you said. I’m a crypto trader at the moment but I’m just tired of trading ONLY crypto. I’m thinking about breaking into the forex market and doing some stonks as well but for now I’m only in crypto. But the forex pairs are basically similar to crypto in terms of volatility

>> No.19109083
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19109083

>>19107637
Interested, gib URLs.

>> No.19109142

>>19107637
because fx is purely TA and most people dont know how to use TA correctly so its just bullshit heaped on bullshit

>> No.19109456

>>19109142
Lol forex is not purely TA. Forex is the exact same shit as crypto or even stonks it’s all the same price action concepts. I’m a crypto trader but I could easily trade forex without doing any TA and I don’t do TA on crypto either

>> No.19109507

>>19109456
clearly you couldnt because price action is TA and if you dont know that you dont know shit

>> No.19109515

>>19107637
bumping out of interest, get some links next general

>> No.19109781

>>19107637
Bump

>> No.19109807

>>19109781
>>19109515
Yeah will supply broker links, a discord link, and other Important links

>> No.19109835

>>19109507
Lol price action is TA???
>???
>???
No. It’s not. Price action is price action. TA is meme lines around the price action TA isn’t needed

>> No.19110270
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19110270

ive tried making /forex/ in the past but this board is crypto dominated so there doesn't seem to be much interest.

pic related is my performance from 3/22/2020 to now (when I started live trading for the 15th time). ask me questions I guess.

>> No.19110360

>>19110270
What did you study/read before getting into it?

>> No.19110388

>>19110270
Which broker? Is that IG?

>> No.19110420

>>19110270
Also what’s your leverage? Let me guess around 5x-10x? I usually scalp 30x On crypto

>> No.19110585

>>19110360
I started with TA and fancy indicators like everyone else, then moved to pure price action and volume (wyckoff), then tried order flow trading (you can't get proper info though since its decentralized, so the DOM is useless. so I would try to follow along with stop hunts using market sentiment for entries/exits).

this process was like 6 years long because im stupid and a slow learner. my issue has always been that im too greedy and also hate closing losing positions, not the trading method, so what helped me the most was automating simple PA strategies like trading off of support/resistance and taking my emotions out of the equation altogether. pic related is an S/R bot I use

>>19110388
tradersway, they're one of the few overseas brokers that still allow US traders

>>19110420
500:1, but it scales down to 50:1 as your account grows

>> No.19110617

>>19110585
pic related meaning the pic I originally posted

>> No.19110624

>>19109835
Price action is the movement of a security's price plotted over time. Price action forms the basis for all technical analysis of a stock, commodity or other asset chart. Many short-term traders rely exclusively on price action and the formations and trends extrapolated from it to make trading decisions.
>t. investopedia

>> No.19110654

>>19110388
also, US brokers are garbage for forex trading.

1) leverage is limited to 50:1
2) even worse, they follow FIFO so you cant have a buy and a sell market order at the same time