I've been really interested in currency trading since I took my introductory macro course and started getting into monetary policy.
Is there a lot of money to be made in this field? I don't mean just as a recreational pursuit, but as a career. Are currency desks usually well paid? Is most trading in Forex automated nowadays (it's not a problem, I have a lot of open time in my major because i fulfilled a lot my course requirements in high school so I can add on a CS course into it).
Isaiah Ward
Trade Crypto, its the future of money and the profit margins are 1,000,000,000% bigger.
Joshua Brooks
I've actually been into crypto. Downloaded Coinbase on my phone and have been setting aside some cash to invest in Ethereum. Pretty pissed I missed the boat on Bitcoin but I'm hoping to make it up.
Still, I'm looking for a place to apply my macro knowledge and this seems like the place. I used to be really into commodities, but those are back to being boring as shit.
Michael Ross
>looking for a place to apply my macro knowledge Crypto isn't the place for that. You could have two PhDs and still lose everything. 95% of coins are pump and dump shitcoins and those that aren't are completely unpredictable.
Stick to forex
Jace Anderson
>You could have two PhDs and still lose everything.
To be fair, you can do the same in the regular markets
Jayden Brooks
Yes I trade commodities professionally. It is very lucrative(I know several people that make over 30k on average a day doing it). Anyone who tells you programs do all the trading know nothing about the industry.
Jeremiah Flores
> Trading Forex > Ever
Jaxson Lewis
Beauty of the markets is they don't care about your background.
Alexander Hughes
Most spot currency traders working on the currency desks today have PHDs in mathematics, compsci, or engineering.
Everything else (swaps, futures, derivatives) are done by analysts with finance degrees and such.
If you have just taken your first macro course, you still have plenary of time. Most finance kids don't learn much about currencies so it's a great way to differentiate yourself.
Jordan Davis
I've been trading FX to complement my day job. Making around a 1k a month right now. AMA.
Xavier Baker
how much do you trade with
Michael Morris
$5k
Ayden Diaz
how often do you watch what you invest in?
Leo Gonzalez
I day trade, so I check on my trades throughout the day
Nathaniel Ross
If you don't want to do it for fun then you shouldn't do it at all.
It's really a very easy hobby if you shoot for less than 50% annually, even for an amateur.
But this is coming from someone that doesn't get greedy which may or may not be an advantage.
David Bell
Do you have a set system you follow? Or just go with the gut?
Grayson Torres
yes
Eli Reyes
Yes what?
Brandon Howard
What program do you use? Since your checking throughout the day it must be something on your phone.
Benjamin Martin
I have a system. I use ninja trader for analysis. Since FX is decentralized, you can't really get accurate order flow or volume. FX futures help with that since there is only one exchange for them in the US. I actually execute my trades on MT4 since it's free.
Ninja trader for analysis, MT4 for execution, and a remote desktop app on my phone to check in every few hours
Camden Gomez
Sounds very interesting. How do i get started with this?
-regards: noob
Isaac Howard
You could probably ask google
Nolan Hughes
If Le Pen wins the French election the Euro is definitely going to plummet, but do you think it will recover at all? Le Pen as a Eurosceptic could push for leaving the EU, and I assume the Eurozone
Tyler Sullivan
Babypips.com tutorial Trading and Exchanges by Harris is also a good read
Sorry user, I don't pay attention to fundamentals
Lucas Wood
What is life like as a commodity trader? Do you trade all commodities or do you specialize in either hard or soft commodities or the individual commodities themselves? Is it still worth learning in spite of the end of the commodities boom of the mid to late 2000s?
What kinds of stuff do commodity traders do? Is it mostly just analyzing the markets and adjusting your positions accordingly?