- 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.
I learned from Oliver Velez.
>>995709
you are the guy from australia ?.
http://forums.babypips.com/newbie-island/70214-truth-about-forex-you-cant-become-rich.html
>>995707
>i need
started 2 years ago with 100$.now i have 8363/2.98 dollars.i trade fundamentals to determine the direction of the trend and technical analysis for entry.my advice is dont use stop loss orders for 20-30 pips.use wider stop loss.i dont use stop loss orders at all.
>>996969
what pair you trade the most ? only one pair ?
>>997287
i used to trade all the majors but now i mostly trade eurusd.
>>996969
>started 2 years ago with 100$.now i have 8363/2.98 dollars
With approximately how many trades you've made this exceptional performance ?
What was your biggest gains in pips?
>>996969
>started 2 years ago with 100$.now i have 8363/2.98 dollars
with scalping ?
Where can I learn the basics?
>>998289
1st account total trades 963
2nd account total trades 624
my biggest gain was 490 pips.opened it at 24th of august.sold eurusd at 1.1700 i was planning to sell till 1.25 but it never reached that far.1.17 was the top.by the way it is not an exceptional performance.i deposited 1250$ and now i have 3200$
>>998341
what's your favorite indicator ?
>>998342 i dont use indicators.
>>995707
>Oliver Velez.
http://www.theinnercircletrader.com/
Put in the time, watch e very video, you WILL make money. Stay off forums, they are a waste of time.
>>998341
>1st account total trades 963
>2nd account total trades 624
what's your techniques ?
scalping with multiple little gains ?
>>998347
you will see people on twitter pulling in thousands with his ideas. Its a piece of piss. The only hard bit is controlling your ego. Make sure you have enough money to start with
>>998349
Photo is my scalping efforts this afternoon. Got in from gym, started machine up and just got to work. Real futures scalping, for the un-initiated, each tick is $12.50.
>>998366
are you a professional trader ?
what's your income in trading ?
>>998349
trend lines.i use trend lines to trade for eurusd.if things go wrong which almost always does i add more positions.i started doing this a few months ago.i force myself to open more positions to take more risk.before that i traded big levels.i targeted 200-300 pips.if i were to trade that way now i would have waited 1.1180 for eurusd to short it.but now im not sure about about shorting eurusd one must wait for FOMC decisions this week.
>>998374
Trading is your main work or additional income ?
>>998371
Yes i'm a full time independent futures trader. That screenshot above is about £410 quid in an hour, minus coms of $67.
£15000 a month is what I want to be above every month, otherwise this game isn't worth it imo. Too stressfull.
>>998374
Trend lines are pretty much meaningless imo. You going to swing big size just because you have drawn a line on a chart? Nah. But a noob will put on a $1 a point trade on that shit.
Not my intention to sound like a dick, though well aware in am!
>>998378
hahaha.my account size is 3200$ cant afford to spend some of it.so this is not my work and i dont have an additional income.trying to make it up to half million dollars then i might consider spending some of it
>>998391
i dont just trade trend lines.i use market profile too.i use trend lines on only eurusd.the most important thing i use is fundamentals.by fundamentals i mean central bank decisions and speeches by important figures.
>>998385
you begin trading with how many money ?
and today, what's your capital ?
this is how i view eurusd
it went to 1.06 because market was expecting more qe and a rate cut from Ecb and rate rise from Fed.but Draghi didn't deliver he was less dovish than expected and cut interest rate less than expected.so eurusd went up 400 pips.now Fed must be hawkish for eurusd to drop significantly.but i dont think it is likely.Fed will most likely say they are data dependent.until the decision i wont be opening positions
>>998344
DUDE
YOU HAVE TO USE INDIES
YOU HAVE TO
ITS THE FOREX DUDE
FOREX LMAO
>>998461
You get VP on Mt4 these days? Never knew! I'm assuming that is a futures contract?
>>998525
Lol i know. Took me 6 years of chewing glass and looking into the abyss to get to where i am now.
>>998417
Started with £5k
Start every month with $50k and trade 1-5 lots depending on how how i'm feeling. 1 lot is $12.50 a tick. Scalp 1 to 2 ticks all day long, sometime have higher targets, ususally in and out in 20 secs. Trades that take longer usually losses.
Not telling you.
Since i was last on thread i'm up over 2k
>>998550
dont know if market profile and VP is the same thing.but the one i use helps me to see where the price stayed most.without it i can see the price stayed between 1.1200 and 1.1300 the most.the most used price is somewhere in that area.my thinking is there might be buyers in that area and they are holding on to their losing trades.once the price reaches there they might close their positions so there will be some selling there once they close their long positions.
>>998565
>ususally in and out in 20 secs
scalping is not prohibited ?
what's your broker ?
>>995707
haven't you posted this thread about 5 times now?
you're not going to learn much from online forums... get some relevant work experience in the field and you'll have a better chance
>>998596
why would scalping be prohibited by a futures broker?
>>998366
if you're able to do that consistently then why not go rent a desk at an arcade... lower your RT costs and trade a bigger clip
>>1000212
because they can get left holding the risk in rapid fire trading if their computers lag.
>>995707
OP, all trading journals end in the same way, because almost all positions end the same way: $0.
I'm a former Quant at a major retail forex broker (went back to school to get my PhD).
Our clients consistently lost money. There was one particular instance I recall where a client made $5 million on a $10k position during the Black Swan incident. Felt pretty damn good about himself. Guess what happened? He lost it all the next week. Got cocky.
Nowadays, the markets (especially the currency markets!) are entirely unpredictable. If anybody tells you they have a numerical or analytical model that can predict the movements of currencies, they are wrong. I've worked with folks from UBS, Credit Suisse, Barclays, etc. Even they don't know how to predict market movements. These institutions have an information advantage because they can see large blocks moving through the system before the market sees them (i.e., through their institutional clients). These are the participants you will be competing with. Do you honestly think you're smarter than Credit Suisse?
Also, if you scalp, you're a piece of shit. You're violating your broker's terms of service and they'll shut you down. In some cases, you can get yourself reported to the relevant regulatory authority. Don't do it.
>>1003876
>I'm a former Quant at a major retail forex broker (went back to school to get my PhD).
If no one can make long-term money on the forex market, why you study and you work at a retail forex broker ?
how much money have you lost in the forex market?
>>1003876
>UBS, Credit Suisse, Barclays
These large banks gain or lose a lot of money in the forex market ?
If she win, simply apply their methods, but what is their method/techniques ?
>>1003876
>Also, if you scalp, you're a piece of shit. You're violating your broker's terms of service and they'll shut you down
>I'm a former Quant at a major retail forex broker
The bullshit is palpable here. There are dozens of brokers out there who allow scalping, it is not illegal. Maybe it was for the russian bucket shop you were working for. You are a little liar anyway, so why bother.
About the numerical models that can predict movements of currencies, i know severals, dealing mostly with medium term price moves using mean reverting strategies. I do not use them. I do have a simple algorithm that shows me how large institutions are positioned, and move my trades accordingly. Nothing too fancy, but works. It warned me of the CHF event one week before it happened. Not because i had any idea of what was going on, but simply because i saw the positions being offloaded for no apparent reasons.
Another thing, markets are expectations driven. As such, i am not expecting an algo to come up any soon and make money on autopilot. You still need to have a grasp of the fundamentals and how the majority of market partecipants will react to them. Intuition and experience play a large role in this process, which is why so many traders get rekt
>>1003972
OP,here comes the bad news. You will never be a profitable trader. Ever.
I am not kidding. You will not make it. You will just handle your money to some scam broker, lose everything in a week or two because you have no idea of what you are doing, and add your name to the list of losers. Do yourself a favour, and stop wasting time. You are not going to make it. I am willing to bet money on that.
Wanna know how i know you will fail? Because instead of busting your ass backtesting a strategy, trying to figure out how market works, what moves them, how long term fundamentals drive prices, you come here every day and make this bullshit thread. You want people to spoonfeed you a strategy. You want the money, but you don't want the hardwork required. Because it will be hard. And painful. And frustrating.
But you don't want it. You want to take the quick road. You want the internet to handle you the key to untold riches. I have no idea of the third world shithole you come from, but your entitlement will get you nowhere. You feel entitled. You think people owe you something. It doesn't work like this. Not in trading, not in real life. And people reading this, people who are successfull (>implying), they know it. And there is no way in hell they are helping you
Now, feel free to make this thread over and over again. You will get nothing except trolls, liars, shitposts. If you are lucky, that is. Because these threads quickly fill up with people who know absolutely nothing about the markets, and yet they feel compelled to give you an opinion, and you will follow this opinion and lose time and money.
Not that it matters. You are not going to make it anyway.
Save yourself time and money and stop wastng time on this. I am serious.
>>1004207
are you a professional trader ?
what's your perfomance/income ?
>>1004213
Well, you didn't get the message it seems.
It's ok. Eventually, you will.
I was expecting a reasonable response to my post, actually. Something along the lines of "oh, i know, i will stop fucking around and get my ass to work". Instead, you asked me how much i make and who i am. More entitlement.
Please OP, don't waste time on trading. You won't make it. And waste the few money you have on your greed. Don't do it
>>1004207
that's not how to use the word "handle". you did it twice.
>>995707
thanks for making this thread so i didnt have to. I was recently looking into trading currency. If you're smart, i think it should be easy to see futures and trends if you have any sense of global economy and how certain things effect an economy, from simple things like product recalls to complex things like diseases in livestock.
Ive been considering putting money into the chinese yuan because its only going to get more big. russian ruble is another one thats going to rise soon. get it now while its hot.
>>1004213
really m8
>>1004500
I'm not being funny, but everyone thinks their predictive ability is greater than it is. You use effect/affect wrong, so maybe you should practice on a simulated account before betting the farm.
>>1004207
I bet you're an atheist/ brony
>>1008295
>PLEASE SIR GIB FOREX STRATEGY SO I CAN BECOME BILLIONAIRE WITH 10 RUPEES LIKE THOSE FOREX MEN ON YOUTUBE
>PLEASE SIR MAKE ME RICH ALLAH BLESS YOU AND YOUR FAMILY
I fail to see how telling the truth to our poo in loo friend makes me an atheist or a brony.
>>1008295
Even if he was he'd still be right. The dumb ass that keeps making these threads seems to believe that someone is going to give him the holy grail to trading that doesn't exist. What's even more ridiculous is that he thinks that a successful trader will just give him their strategy for free.
I've been playing the demo off and on and made 930 roughly in profits with the lowest leverage at 1.4-2 usd a pip I lost 4700 on purpose out of the 5k they gave me on the demo account and I'm at this now. What's the catch if I went live? I don't know too much but I feel like it can't be this easy. Out of 26 trades yesterday I only lost on 3.
>>1009371
I had these results the day I started on real account, 90% of trades were successful. But then I lost all my profits the next day. I wanted too much.
>>1009371
>What's the catch if I went live?
if you get greedy then you'll be fucked for real instead of fucked in practice. keep doing what you're doing, know when you get out and do not get greedy and you're gtg.
>>1009371
what's your broker ?
>>1004207
>Wanna know how i know you will fail? Because instead of busting your ass backtesting a strategy, trying to figure out how market works, what moves them, how long term fundamentals drive prices
What are the tools I need to learn how to do this? I know how to do this for crypto currencies but I can't find any decent tools for the normal stock market.
For me, learning is the easy part,I just don't know where I'm supposed to obtain decent software.
>>1009462
he is already greedy.he opened 7.5 lots that day
>>1009770
Nah man this was yesterday 1:100
Forex people
Do these jobs look like bullshit to you? There's a few of this flavour on the internet, and they just smell a bit off to me.
https://jobs.theguardian.com/job/6225996/junior-trader/
https://jobs.theguardian.com/job/6228616/graduate-corporate-fx-broker/
I previously applied for a job which marketed itself as investing but quickly became obvious that it was scamming idiots, and I don't want to waste my time.
>>1009371
"Purposely lost" almost all of his demo account
>>1002477
no they can't
I don't think you understand how a futures broker works.
>>1011034
the first one will be a scam - you'll pay for a training course where they stick you on a simulator... a few people might be successful and will start 'trading' with 'company funds' (in reality a small portion of the money paid in training fees by all the chumps who signed up for training)... these people will likely be sacked fairly quickly too
don't pay for training, go somewhere where they'll train you for free and are willing to back you if successful without you putting any money down - there are fewer of these places around these days but they still exist - for example Met Traders
the second role is a sales role - these sorts of roles will be for small FX brokerages dealing with small companies who need to conduct some FX transaction that are either naive or not doing enough transactions to warrant dealing with an ECN or some web interface set up by their bank ... instead they'll go to a 'broker' who will provide a rate that is maybe better than tourists will get for their travel money at airports but still a bit of a rip off
