Anyone trading Forex? I've deposited some money, seems too easy to be true desu. I'm pure TA, mostly swing trade, but tried some high leverage day trading and I find it insanely easy.
Yes I trade forex and it’s easy until you start losing money....don’t get too cocky and welcome aboard the forex train
I was really off put in the beginning, since I didn't understand the leverage aspect and thought why the hell would anyone play these small 0.5% moves.
But I'm really enjoying it right now, feeling pretty comfy.
What is your broker? I went with IC Markets.
just like every leveraged trade, if you get cocky, you WILL lose everything
too bad its taxed beyond anything in my country, so its not worth doing
53% tax on every trade, realized or not, only 18% coverage on a loss
But I heard that forex is harder to daytrade than btc
you WILL lose all of it
I started with crypto, tried out BitMEX and failed.. but the reason wasn't that BTC is hard to trade, the reason was my TA sucked at the time.
I've been dwelling into all markets lately and had insane succes. I don't think I'm some kind of 'guru' or w/e, I don't even care about markets to be honest. It's more like a video game when you start doing good TA.
So yeah, currently I've been having good calls in every market, since my TA is at the level where I love it and stick to it, since I'm confident in it.
It's not that things are hard to trade, it's that peoples TA usually suck.
Nah, feeling pretty comfy. I have good positions with 1 LOT size that I swing trade, based on daily timeframe.. I was just fucking around with daytrading for last few days with small amount of money and turned it into a bunch. Can't say anything, right now I'm just fucking around and seeing what works or doesn't work. But I do feel very confident in my positions.
What sort of TA do you use? I’ve been trying to learn as well. So far I know about on balance volume, Bollinger bands and RSI.
I’ve been trading since 2008. Long story but I got out of prison in 2007 and couldn’t go back to my white collar type work. I had dabbled in trading before but a friend turned me on to retail forex and I haven’t looked back. I started part time while driving a cab just to survive. I LOST EVERYTHING FOR THE FIRST FEW YEARS. Let that sink in. I got stupid and greedy.
Then I started following the market more, smaller trades and money discipline.
I have numerous accounts now...oanda fxglory lmfx fxchoice and evolve. I routinely make 10-15k per week..,,very doable and I see fx only getting better IF YOU PUT DISCIPLINE AND TIME INTO IT.
I laugh coming here looking at the crypto shit...that you need to stay away from!!!
Good luck to all.
Why would you stay away from investing in upcoming tech?
Look, I don't want to sound cocky, but I've meet tens of people like you, that didn't have success, then I see their TA and just shake my head in disbelief.
I'm not saying these high leverage daytrading positions mean anything, it was spare money that was turned into something big.
But safe swing trade positions is where I'm looking to make safe money at.
I don't see the problem, if you think I'm wrong, then please show me some of your positions/TA and then we can discuss.
MACD, RSI, SQZ, StochRSI, Fixed Range VPVR on different sections
The support/trend/resistance lines and how fib retracements work, should be pretty clear to you.
Don't listen to anyone with 'special TA configurations' and want to shot how to 'be cool' with their TA. The dumber it is, the better it works. Just put all the different chart timeframes together and what to do should be pretty clear. If plan A doesn't work, then just hedge and open plan B.
You know indices and futures are even easier, right?
What do you mean by put the different time frames together? Should I be checking all those indicators on every time frame?
What I don't understand is, how are people so fucking bad at trading this market? It's laughable easy, if your TA doesn't suck. Any market should be easy, if your TA is good.
I don't understand people that over complicate trading, it's almost retarded how easy it is, if you don't complicate things and see them for what they are. I'm in disbelief with 99% of people that say FX is rigger or w/e. It's just insane, especially when I see their positions. Makes me sad someone with zero knowledge actually trades and then blames it on market or that it is unbeatable.
tell us about your risk/reward
Yeah kind of. You see, start with 1h chart, then 2h, 4h, 6h and daily. All of them should kind of tell you what the fuck is going on, if you are going to swing trade and where to wait and open positions at.
Everything seems stupidly easy right now. I'm gonna go into options slowly. Now just enjoying FX, currently watching Stock Market and laughing my ass off. FB, TESLA, AMAZON, day traders dream.
The crypto market is completely unregulated at this time… I realize that’s a good thing for some people but if you’re a full-time trader, It’s impossible to trade… When you’ve been trading for years you start to spot the schemes amd the irregularities and crypto is one big irregularity...wash trades, buy walls, Bartman, etc. But most of you are too young and naïve to see all that.
If you enjoy trading which is fine… Stick with something that has some sort of regulation and if your account gets hacked you actually get your money back
waiting for an answer.
also, if you are good, you can get on a copy trading platform such as etoro, if enough people copy you, you will get 1-2% of AUM + $1k per month. Good forex traders on etoro are rare, so trading right is the easy party.
*is the hard part
of course all your trades and stats are public
Learning fundamentals about TA, then learning on my mistakes, then learning from then, then watching what others are doing, then realize most of the 'gurus' are retarded, developed my own strategy after countless mistakes, there came an 'aha' moment and confidence with it, sticked with the strategy ever since I'm having great success on my calls and see that 99% are scared and have no idea what the fuck is going on.
For swing trading I mainly calculate 1.7% stop loss and put my stop loss there. For taking profit point it depends, sometimes I let it run, sometimes I take profit early.
Same with day trading.
Didn't knew about that, ty, will check it out.
I once asked about forex on here and was told I’d be trading against pros and would get slaughtered
you should, some traders have millions allocated to them, the management fee alone is enough to make them live like kings and they don't do much, they just ride the bull market
if you decide to join someday, post your account so we can copy you.
Yeah, I don't understand this meme. I mean, I get it that 99% are doing TA wrong and have a bad experience and then spread the FUD.
I get it why 99% people fail also and then spread this 'trading against the best' meme. It's probably because they over complicate things and are emotionally invested and can't handle it.
I think they mean you will be trading against the robber banks that will move the market with billions of dollars.
You have to watch out for the black swan events as it can wipe your account out even with a stop loss. Because the slippage will rape you as your stop loss cannot be closed fast enough.
This is the kind of conspiracy shit people that are emotionally attached spread.
You have just started recently. You haven't seen it all yet in the Forex market.
Guess what? Banks are slowly building these positions over time without moving the price and guess how you can spot this massive volume?
VPVR on different sections.
Most people draw trendlines/resistance lines and support lines, draw few fib retracements and watch MACD/RSI and think they know everything.
If you ask me VPVR on different sections of breakout/breakdowns and putting all timeframes together is really where it's at. But 99% don't use VPVR in the first place, or they used it on visible range, instead of examining fixed ranges of different sections to realize what the fuck is happening.
Where to learn TA? Can you recommend some decent books or videos?
Use internet and keywords such as 'Fundamental Technical Analysis Guide' on google/youtube.
But I got bad news for you, if you are to dumb to figure this out and how ti google things, then you will probably be too dumb to do proper TA also.
fuck me, it's people like you that fail. If you are interested in TA and can't google how to learn it, then just forget it.
obviously he can google that, he's asking if there's something specific that you liked and would recommend. Some resources are filled with misinformation.
he has an example here and
Just remember, if anyone uses anything remotely close to Guppy RSI to look cool or anything other that 'seems' cool and come up with conspiracy theories to why price is where it is, he should be dragged on street and beat up.
There's nothing worse than pretentious faggots (especially on crypto twitter with multiple thousand followers) claiming why something did or didn't work out. Just fuck off faggots with your conspiracy theories, it's people like that that are ruining TA and emotionally retarded.
Also people that use Elliot Wave theory in false hope that the wave 5 will skyrocket their false hopes should be also dragged on street and beat up.
Just shut the fuck up faggots with your false hopes and 'cool little TA' that is completely wrong and retarded.
The more simple it is, the better you'll do.
Thanks, I have the first book
Obviously I know how to use google. My question was targeted more at finding out if there were any specific books you found helpful, but it seems all you've done is read a couple investapedia pages.
No, I learned how to trade by trading.
how much of what you do can be accomplished by a bot?
What exactly is VPVR?
what pairs are you mostly trading?
what pairs don't work well with TA?
do you plan to intend to trade commodities?
OP im curious where you are trading and what your most common pairs are
i've been doing stuff on 1broker on 100x leverage recently, mostly longing EUR and GBR against the USD, still in EUR right now, what are your current actions? USD is getting memed on by Senor Trump who knows whats ganna happen
OP here, I went out with friends, will be back in 2-3 hours if thread will still be alive. No larp, I know I have different ID.
Would you mind giving some basic advices to a newbie like me?
What does VR stand for after the VP?That's something i couldn't figure out yet.
Im learning to play forex, just using forex.com atm
Don't care for r/r right now. Just doing small 1x or 2x trades. Trying to keep perpetual position reversals going for as long as possible.
Looking for advice on when to close a winning position maybe you guys can help?
I've gotten 1000+ pips on EURUSD multiple times but I don't close because its not hitting my exit point.
But there us some psychological thing that happens to me when I have profitable trades. I can't bring myself to login and see how much money I have made.
Anyone else experience this? Any advice on dealing with success?
what sort of TA are you using? you can profit using very steadfast rules basically avoiding all political talk on news channels etc....
Every trade set stop loss profit take and walk away, your work is done nothing that happens afterwards matters my man. Watching it move up and down is irrelevent, everything does that your not going to profit every pip of movement you follow general trends and beat 10% yearly and your spending your time wisely.
Itchy cloud. Aroon, and RSI. My exit is when EURUSD hits 1.3. I def don't want to pay attention to the news.
Nice. So you're basically saying that Im right not to close my position even though im in significant profit? That would be a load off my mind
move your stop loss up as necessary. I dont know what your entry on EURUSD was but if your just starting trading guaranteeing yourself profit/breakeven is a big mental boost.
I use ichi cloud, stoch POP which is a stochtastic RSI, a supertrend from tradingview, and a few other things on occasion as my TA.
Let winners run by moving up your stop losses, and don't chase losers by moving your stop loss down thinking 'it has to turn around it was a good trade when i made it' doesnt matter. You lost. Your not meant to be profitable 100% of trades, if one doesnt work out thats fine the TA stuff isnt a guarantee, its only used as a trend 'thisis LIKELY to happen' so you trade the percentages and try to be in the green say 60% of the time.
basically don't be a retard and you can make profit