What is Forex? Learn Forex Trading - FXCM DE

/r/Forex Trading Community

Welcome to FXGears.com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. FXGears.com hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat.
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Algorithmic Trading

A place for redditors to discuss quantitative trading, statistical methods, econometrics, programming, implementation, automated strategies, and bounce ideas off each other for constructive criticism. Feel free to submit papers/links of things you find interesting.
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forexit

Using money, you can make money betting on money. This money, will become more or less valuable compared to other monies, you too can make money if you know where the money will end up. 90% of us lose money. ----- On a serious note, this is just a less regulated version of /forex. There will be some moderation because this isn't an anarchy. But it's also not the totalitarian subreddit /forex was becoming.
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Beware of Mistakes in Forex. It's Costly! #tradingplans #overtrading #tradingstrategy #forexlifestyle #emotions #forextrading #tips #wetalktrade

Beware of Mistakes in Forex. It's Costly! #tradingplans #overtrading #tradingstrategy #forexlifestyle #emotions #forextrading #tips #wetalktrade submitted by Wetalktrade to u/Wetalktrade [link] [comments]

Unathi Kwaza RT from Edward Hilton: @Unathi_Kwaza Makes perfect sense if the aim is to collapse the tourism industry and the much needed forex it brings in. I'm predicting (maybe hoping is a better word) that there will be some easing of the current repat chaos.

Unathi Kwaza RT from Edward Hilton: @Unathi_Kwaza Makes perfect sense if the aim is to collapse the tourism industry and the much needed forex it brings in. I'm predicting (maybe hoping is a better word) that there will be some easing of the current repat chaos. submitted by TweetArchiveBot to LibertyRSA [link] [comments]

Make crazy profits trading forex. its so easy. follow link to know more.

Make crazy profits trading forex. its so easy. follow link to know more. submitted by dnomyar001 to OnlineBusiness [link] [comments]

i know, i know it's not forex... it's price action. ive been preaching. my previous post is now approaching the red shaded area. it's where the money is.. and they want it. im just riding along for the swing

i know, i know it's not forex... it's price action. ive been preaching. my previous post is now approaching the red shaded area. it's where the money is.. and they want it. im just riding along for the swing submitted by jon1818 to Forex [link] [comments]

Quantitative Trader Looking At Forex... It Seems Easy: OBVIOUSLY I'M MISSING SOMETHING. Give me a reality check please.

My Background: I'm just some 20 yr old statistics major that loves numbers. I've been doing quantitative trading (algorithmic) for about a year. I manage 10's of thousands of dollars (over 20k, under 50k) of OPM successfully.
School is starting back up soon and I'm one of those people who learns by reading the textbook (we are a dying breed, I know), not by listening to the teacher take like 2 hours to tell me what I could have read in 30 minutes. I need something to do in class. Last semester it was trading BioTech stocks solely based off of activity on stock twits (sounds kinda ridiculous - I know) and that went quite well. But I figured I'd get into forex this time around since I know pretty much nothing about it.
Looking at charts, It seems that past a 2 hour window, all exchange rates exhibit a sinusoidal behavior... Is it common for people to just trade these seemingly very predictable dips? I only have really zoomed in data for the past month. Obviously Its much more than that. But it looks to me that one could just take a "Support Vs. Resistance" approach to trading forex... Am I wrong?
submitted by BlackBoxQuant to Forex [link] [comments]

Forex IT Solutions Dubai | Buy MT4 Whitelabel Dubai

Forex IT Solutions Dubai | Buy MT4 Whitelabel Dubai submitted by icmbservices to u/icmbservices [link] [comments]

Guys what do you think is the future of Forex? (It is estimated to be around +$10 Trillion by 2020)

submitted by Tapanjoshi to Forex [link] [comments]

Forex IT Solution | MT4 CRM Software in Dubai

Forex IT Solution | MT4 CRM Software in Dubai submitted by icmbservices to u/icmbservices [link] [comments]

Forex: It’s Not as Risky as They Say

submitted by msforex to ForexCommunity [link] [comments]

So my dad has joined this “‘mentality” group. It’s related to FOREX investments, anyone can help me out?

He’s been acting weird and secretive lately about these ZOOM meetings that he is attending; he locks himself in a room and nobody can disturb him no matter what.
I checked his computer while he was away and I found that what he has joined is something called “Freedom Alquimia: mentality and Forex”. It’s all in Spanish (we’re in Spain and are Spanish).
From what he has told me the people there are making 5K a month just by trading very little and he wants that. I know that’s already fishy, but he says that he hasn’t put any money at all. So.... I’m confused.
His behavior has been changing since he started this and he claims that my mum is “sabotaging” his success; and I’m just scared they’re brainwashing him or something. Maybe it’s legit but... I need to confirm somehow and google didn’t help at all..
Thank you everyone!!!
submitted by mavm94 to Scams [link] [comments]

Why is Forex trading HATED by so many people? feels like 90% of investors hate it

i Live in australia and use ICMarkets, i do use abit of leverage but nothing TOO crazy, i understand all the risks but i have my own system ive been succesful with. im not here to say " its easy " or crap like that.... i have dedicated countless hours and months too learning the forex markets, learning patterns , going over charts and all sort of fundamentals.
i am just wondering why Forex trading is hated and looked down upon by so many people who are into the Markets.... i Was doing some reading on the Internet and i just couldn't belive the amount of trash i read regarding Forex.. its Like all the Stupid fuks who CANT Succeed or be Bothered too learn this type of trading just talk shit about it, Complete fuking trash is all i read...
i can understand why the normie Generic person would say its terrible, Because they dont understand the basics of how this type of stuff works. Same as people who cant be Fuked learning all the bits of information you need to know... But besides that its almost like every single person i come across has a bad thing to say about trading
submitted by drbrugger to Forex [link] [comments]

Forex is not for retail traders

I still can’t understand why retail traders are involved in Forex. It’s not their place and should not be in their interest. Forex is the foreign exchange of currencies, which is the business of big companies that shuffle around money. There is no technical structure in Forex and all movement in short term is random and long term is based on fundamentals.
Why do retail traders keep thinking (day)trading forex can ever be profitable?
submitted by lrsi_ to Forex [link] [comments]

How to Become a Forex Expert, and the Value of it Has.

Firstly, let me say "expert" is not intended to be used as a synonym for "guru", "master of the market" or "profit Demigod". When I say "expert", what I mean is being so knowledgeable in one small area that it would be irrational to expect most people to know as much as you do about that specific thing.

Becoming an expert in Forex is something theoretically most people should be able to do, although few are likely to. What it takes to become an expert is a simple formula;
Your intelligence*study time*quality of study.
That's it, anyone of reasonable intelligence can become an expert just by having the other variables being suitably high; which is doable, for those determined enough.
Besides from knowing more than it would be rational to expect most people to know (because, it would be irrational to expect most people to put in the time on the specific things you have), the other part of being an expert is when you have chosen a specific thing to focus on and done the following;
This can be quite a brutal process, it was for me anyway. I got especially hung up in the "every conceivable mistake" area.

I have chosen to focus on optimum entries in trading, and tightest stops. More specifically, I look for these entry opportunities in at certain support and resistance levels formed from patterns I have noticed over time. I've watched price trade into these levels and the price action around them 10's of thousands of times - maybe even more. I've placed countless trades in these areas, in live trading, demo trading and even simulated trading. It is phenomenally uncommon that price trades into the areas I define for my analysis and then does something I have not seen before.

This isn't to say that I win every time, or because I've seen it before I can predict it when it's happening. It just means I am rarely surprised. I know the risks of what I am doing and what it looks like when it goes bad, and I know what I should be looking for as signs it is going well and might want to scale up my position.

I know every conceivable way I can screw up when price comes into this area.

I know the way price moves can induce me to make mistakes, enter at the wrong times, scale up at the wrong time, trail stops into the retrace zone or get stopped out just before the market turns. Since I am focusing on a limited amount of information (certain zone and certain patterns around there), there really is a limited amount of common outcomes. Therefore, a smart person can learn how to avoid making mistakes in they common outcomes. I found out I was not a smart person, Forex taught me I was substantially less smart than I'd thought walking in, for a non-smart person; add time! So that is one big benefit of being focused on one small specific thing. You can know the ways that mistakes can be made, usually you can also find the profitable trade on the other side of your mistake.

Another is being able to trust fully in your own analysis, even if others do not agree with you and even when the market does not agree with you. This comes from knowing more about one specific thing that it would be rational to expect most others to know. Many times when I post trades I am taking (which isn't all that common), people will tell me my stops are too tight. It's something that happens a lot, and sometimes they are right - if we define the stop loss hitting as right.

However, it is kinda a case of "no-one can tell you your doing it wrong if no-one knows what your doing". People who tell me my stops are too tight are just people who must not have put the same focus on this specific sort of thing as I have. They may well be a million times brighter than me in every other aspect of trading, or even life in general; but they have not put in the hours studying the thing the same as I have to understand why I am doing it.

This is the same as when the market runs against you and generates losing streaks (L2A), I've seen it all before. I know sometimes the market is going to run me over. I've learned when discretion is the better part of valour and I've also learned when I should stick in there and keep swinging. There have been so many times I have been overly stubborn or gave up too easily on an entry that I know the commonalities of the worst conditions for me. Losing streaks do not sting so much when they are something you have already accounted for and have a good idea of what they will look like.

Through speaking with and assessing strategies from traders doing well over long periods of time, I have come to notice that a lot of them think like this. Maybe not exactly the same as I think about it and have spoken about it here, but in a general sense many agree it is best to hone a skill in a small selected area. When you read books from successful traders they will rarely talk about how they have all encompassing market knowledge, rather, why they are so good at one special thing (and often simple thing). Warren Buffet should not really be described as a trader, but he does have an appropriate quote; "I am smart in spots, and I stay in they spots".

When first starting out in Forex, it can be good to have various different avenues you look down and see if you can find anything that suits you. Some of the things worth looking into are covered in the Basics and Core Concepts of Forex Trading post. Once you have found something that you think is a good methodology, there are many benefits in going into a sort of blinker mode and becoming oddly informed about one small thing.




submitted by inweedwetrust to Forexnoobs [link] [comments]

Improvement for paper trading function.

I'm a paid user and tradingview is awesome but there are things could make it even better.
For paper trading:
-The quantity box should have "Lot" option, as in forex it's a lot easier and more popular to use lot as measurement.
- There should be a way to send info directly from the long/short position drawing tool to paper trading. Some button like "process to make this trade" in the long/short drawing tool.
cheers,
submitted by D_Duong92 to TradingView [link] [comments]

I'm fairly new to forex and wanted to show you guys a trade that made me happy with my progress. I got in it when it was about to go back to the support line.

I'm fairly new to forex and wanted to show you guys a trade that made me happy with my progress. I got in it when it was about to go back to the support line. submitted by tbeau4848 to Forex [link] [comments]

My boyfriend is starting Forex. I think it’s a “get rich quick scheme”. Please teach me about the reality of it.

Hi. So I like to call myself a big skeptic of all things “get rich quick”. I’ve always hated MLM’s and other sorts of marketing businesses. I’ve seen many people and heard many stories of people losing thousands and I’ve always been super skeptical about them. However, my boyfriend, let’s call him Cody, has become interested in Forex. He has been a partner with Primerica for a while now but hasn’t done anything with that. He is a manager at a gym here and makes decent money from that. He was approached by a friend to start working with Forex. When I heard about this, I was shocked, just because I’ve heard horror stories about Forex. When I look up reviews online, all I see is people losing money. When I spoke to his friend to see what this is all about, all I got was attacked and hated on for being a “non-believer”. He essentially just said that people who lose money are lazy and don’t even try. I am genuinely curious in learning more and want to be more educated in this. From what I’ve read, it depends a lot on gambling and knowing a lot about the craft. Cody is convinced he will earn $40,000 (approximately) by February doing 6% everyday excluding weekends (I have no clue what that means but I know that’s what he’s doing). I want to know if and how this is actually a legit endeavor or if he’s just delusional. Please, no attacks, I want serious, informative answers. Thanks so much.
TL;DR: my bf is starting Forex and I think it’s a scam, how legit is it?
Edit: I told him that if he actually does make that $40,000, I’ll apologize for my skepticism and not question this typa shit anymore. We’ll see 🤷🏼‍♀️
Edit: He works all day with no break and gets home at 11-12 and gets EXHAUSTED. He goes to sleep at like 1 every night and spends that free time watching tv. Nothing wrong with that I just don’t see how he has time to do this stuff. From what I’ve gathered, this has to be done in the afternoon and takes a while.
Update: So I spoke to him and mentioned all the advice y’all have given me here. He said he is already doing research but he’s down to join an MLM. He says “everything is an MLM, college, businesses, everything”, which is ridiculous to me but ok. I’m scared for him but I guess there’s not much I can do. He’s writing all this advice off as idiots that had a bad experience even though most people here have said that they have had ups and downs. He also says I’m being super negative and the least bit supportive. Idk what to do😕
submitted by Anya24680 to Forex [link] [comments]

Stop using rsi and supply and demand and Bollinger bands and so on.

Rsi , bollinger bands are for stocks just like many others and they were created in the 60s and 70s so they are like 40-50 years out of date .
stochastic oscillator was made in the 50s the indicators most people use for forex are meant for stocks and are heavily out dated and very rarely work so stop using them .
Also everyone else uses exactly the same indicators , be different, have your own strategy and indicators, theirs literally thousands so why does 95% of people use all the same ones.
Supply and demand zones are for stocks not for forex, its a totally different market and the sooner you realise this the sooner you will succeed.
ALSO STOP USING SUPPORT AND RESISTANCE PLEASE IT DOESNT WORK AND WILL NEVER WORK IN THE LONG RUN.
submitted by Dmt-is-the-real to Forex [link] [comments]

How To Make Money Trading Reddit

How To Make Money Trading Reddit

MAKE MONEY WITH TRADING (Forex, Stocks, Binary Options)

https://preview.redd.it/onvu1owbn2v51.jpg?width=640&format=pjpg&auto=webp&s=63508b4c3653556bc53e4ef2df86a29df5e5dd0b
Trading consists of buying and selling assets, such as stocks, futures, currencies or derivatives, in a financial market. To trade, so that we obtain benefits, we will have to speculate with the movements in the price of the assets. This is the first step to making money from trading.
The word trading is usually associated with short-term investments, that is, short operations that seek benefits limited to a small time frame.
In other words, trading and investing are the same, only the time frame changes.
So if you hear terms like "stock trading" or "stock trading" it is the same thing, only they usually refer to different time frames.
The person who invests or trades is called a trader. A trader then is someone who invests in the financial markets.
Generally, the term trader is usually added to the asset that operates. For example, stock trader, futures trader, forex trader, in short, the asset that operates.
As you can see I am adding several concepts so that we all start from the same base.
So, trading is basically buying and selling assets, trying to buy at the lowest possible price and sell as high as possible. As simple as that.
I want you to understand something, the bases are 70% of your trading. It is amazing to see how advanced traders forget the basics before trading.
By advanced trader I mean someone who already knows how to trade but that doesn't necessarily make him a winning trader. In most cases they apply complicated strategies and forget something as simple as the bases.
How much can a trader earn? You put the roof on it, there is no limit. I recommend you measure your progress in percentages and not in nominals. It is best to verify your progress.
Is it necessary to be in a Trading Academy? Like everything, there are some who like to be social and others who prefer to work in a self-taught way. In trading, it is the same. If you need the constant support of people to not be demotivated, then a Trading Academy is a good option. Now, if you are an already motivated person who only needs to clear up doubts, then the best thing is a mentor, consulting professional, or a trading teacher who clears your doubts.
The foundations for making money trading have to be solid if we want to make profits consistently. So today I want to emphasize that, the foundations of being a successful trader. Let us begin!

How to Make Money Trading Reddit - Key Steps

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1) Buy Supports (and resistances)
Buying in supports is buying in a key area where the price exerts a certain friction preventing the price from continuing to advance, for whatever reason.
A support is nothing more than an area where the asset finds the confidence of investors, it is the level where they estimate that it is a good purchase price for them, and that is why they buy the asset in question, in such a way that the asset finds help in that level.
Most trading systems, at least the ones I know of which are a few, are based on this principle but what happens, they camouflage it with flourishes.
Instead of saying, to the purchase in supports, they add colored mirrors so that it does not look so simple.
I'm not saying that details are not good, but exaggeration of details can lead to confusion and later paralysis.
Systems must necessarily be simple.
Buying in stands not only improves your overall entry, but it drastically lowers your risks. The further we move away from a support, the more the risk increases.
Many times we end up buying halfway because the price "escaped" us and we think that we will not have another equal opportunity. The reality is that the market always provides opportunities for those who know how to wait.
There is a saying that the beginning trader has fun in the market, the professional trader gets bored.
This does not mean that the professional trader does things reluctantly, or that he does not like to invest. It means that the professional trader waits crouched, calm, for that opportunity that he is looking for appears, that entry into support that reduces his risk. While the novice trader enters and exits the market euphoric.
A professional trader can be in front of the screen all day and not make a single trade. The novice trader, on the other hand, if he spends more than 5 minutes without trading, he already feels bad, anxious and thinks that he is losing opportunities.
Without further ado, enter supports.
2) Execute stop loss
Holding losses is the biggest mistake of traders. Who in the beginning has not moved the stop loss because the operation moved against him?
It's a very common mistake. We enter the market, we put the stop, the operation turns against us and instead of executing the stop, we RUN IT!
We are camicaces.
The typical phrase "I'm waiting to recover" has burned entire wallets.
The market fell 40% and instead of leaving, they began to pray.
The great advantage of small portfolios, that is, investors with little capital, is flexibility and speed of reaction.
By running the stop loss you are losing the only advantage you have with respect to professionals and large investors. Because they sure have more capital and have wider margins.
Please don't take losses, don't run the stop loss.
If you miss the stop, distance yourself from the market and analyze why that happened to you for the next better place your stop.
3) Sell in resistonce
I want you to remember something. Until you sell, the profits are not yours.
Until you sell, you have no money.
Until you sell, you cannot say that the operation was successful.
Many traders are very good at finding entries. They perfectly see the supports and manage to enter at the best prices. But what happens to them, they don't sell.
It hits a key resistance, where price clearly can't break through and what they do, they hold out in case it breaks.
The worst, the price does not break or make an upthrust (which would be a kind of professional feint), it returns to support, it bounces, it goes back to resistance and what we do ... we wait again to see if it breaks, because now it is the correct.
And there is a worse case. It reaches resistance and we want to apply the phrase "let the profits run", so what do we do, we adjust the stop loss near the resistance in case the price breaks and continues.
The price tests the resistance, falls, touches our stop and we run it in case the price returns to the path. Instead of applying the phrase “let the profits run” we apply the phrase “let the losses run”.
An old master used to say, when the price reaches resistance, I collect my winnings and go on vacation.
It seems silly but it is a way of telling our brain, if you do things well you have a prize.
Sell ​​in resistance, the market always gives new opportunities.
4) The Trend is your friend
No better elaborated phrase. The trend is your friend. And as we all know, almost no one pays attention to their friends. We ask them for advice and if they don't say what we want to hear, we won't.
If the price goes up, where do you have to invest?
"It is not that the price was stretched too much and surely now a correction is coming, so I invest against it."
You are seeing that the trend is upward in an annual, monthly, weekly, daily, hourly and minute time frame, but just in case you invest against it.
Please, the trend is your friend, if it tells you that the price is going up, it is because it is going up.
I invested in favor of the trend. You do not want to beat the market because I assure you that it breaks your arm in a blink of an eye.
5) Statistical advantage
In the financial markets there are no certainties, only probabilities and whoever tells you otherwise is surely not winning in silver.
What we are looking for are windows of statistical opportunities. In other words, we try to turn the odds in our favor.
That is why it is always important to ask yourself the question, what is more likely, that the price will go up or down?
This is because many times we operate and do not realize that the odds are against us.
We can never be 100% certain, but just putting the odds in our favor by making concrete decisions based on logic and not on emotions can earn us a lot of money.
6) Consistency
You often see many traders showing one or two of their most successful trades and the occasional loss. This is good for teaching purposes, and it is useful for transmitting teachings.
But if you want to become a professional trader you need consistency. And consistency does not speak of an isolated operation, it speaks of sustained profits over time.
And when I say time I speak of years. Not a month, not a week, not a semester. 3 years, 5 years, 10 years, 20 years.
To give you an idea, ultra-professional traders fight to see who is more consistent.
In other words, the first question they ask themselves is how many years have you been winning?
A trader who every year earns a tight, modest percentage, reasonable to say the least, but consistently, is a much better professional than one who doubles the capital one year and the other is -90.
Consistency is highly treasured as it allows for simulations, strategizing, and even projections.
7) Trading plan
The number of traders who invest without having a trading plan is impressive. Something so important, so simple to make, so useful and very few use it.
A trading plan allows you to analyze your operations, see what you are doing, and then improve.
When we don't have a trading plan, what we did last week goes completely unnoticed because we can't internalize the teaching.
And when I speak of teachings, they can be gains or losses.
A loss allows us to adjust the plan but a success also.
In fact, when we have several successful operations, there is nothing better than taking their teachings and replicating them.
The trading plan is the only tool that allows us to do this, learn, improve and be the most objective possible, leaving aside emotions.

Forex trading Reddit

https://preview.redd.it/ljyjklqgo2v51.jpg?width=640&format=pjpg&auto=webp&s=c50d6af6b81521fbbfe25938c98971e1592de261
When it comes to the currency market, one of the most popular trading markets is Forex. It represents the world's largest decentralized currency market. So we will answer how to make money from forex trading.
With only having a computer, tablet or mobile phone, and an excellent internet connection service, you will be able to operate from anywhere in the world in the Forex market. It has the great strength of being flexible and adaptable to all types of investors.
Select a prominent broker or intermediary agent, one that is recognized and very professional. Conduct negotiation trials with him, so that you get to know each other and do not put your capital at risk.
Develop together the work style that most identifies you and decide to earn money by trading, enriching yourself with all the possible knowledge and strategies.
Acquire strengths in detecting the ideal moment to carry out operations. You will achieve this by studying and understanding the graphs and trends of transactions, detecting that unique pattern that tells you when is the right time to proceed.
Do not hesitate, it is possible to earn a lot of money with trading! But, make sure, above all things, train yourself with a duly accredited professional, in guarantee of acquiring quality theoretical knowledge, imperative to understand the movement of the market.

How to Make Money Trading Reddit - Final Words

Trading is an “investment vehicle” that can serve your objectives of having financial peace of mind as long as it is part of a broad economic and financial planning in the short, medium and long term. If not, trading can become a fast track to lose your money, if you lack the necessary knowledge, experience and training. Follow the following formula to Make Money in Trading Consistently:

Profitability = (Knowledge + experience) x emotional and mental management

submitted by kayakero to makemoneyforexreddit [link] [comments]

Connected my broker but cant trade

So i connected my broker (Saxo) on tradingview, but it seems that i can only trade forex. It says that regular stocks are not supported with saxo, can this be real?
submitted by SmokePlus5378 to TradingView [link] [comments]

IMarketslive has a new name called IM Mastery Academy

I've been in a heated conversation with one of their members about how their company is a pyramid scheme but she keeps talking about how it's all about the education and because it's an educational platform and their pyramid scheme is called 'affiliate marketing' and her argument is that ' she has people on her team that have 0 people under them '
But let's all be real, the educational platform is just to hide the real truth because in the end, everyone starts building the pyramid because they want quick & easy money.
You can't sign up on the website unless you have a 'code ' of someone that sent you, meaning you have to already be some kind of 'approved' person or whatever.
Obviously the site looks legit, and everything is more detailed in their webinars or zoom calls.
(ive been in a call before when it was imarketslive and it was all about recruiting)
But since they do provide you with content on how to learn forex, it looks legit but it really isn't. I mean there's free content on youtube about forex, it's not hard.
The person keeps telling me to get my facts right and that google is innacurate for information because it can get the wrong information lol.
submitted by invokergirl to antiMLM [link] [comments]

So I am a new mom, and have been both dreading and looking forward to the moment the MLM huns find me. But last night, IT HAPPENED. A boss babe from forex slid into my dms. So now, I am asking for help. How should I respond!!

So I am a new mom, and have been both dreading and looking forward to the moment the MLM huns find me. But last night, IT HAPPENED. A boss babe from forex slid into my dms. So now, I am asking for help. How should I respond!! submitted by Accomplishedfailure_ to antiMLM [link] [comments]

Trading Ideas For Next Week [Week 2] (Part 1)

Trading Ideas For Next Week [Week 2] (Part 1)
Due to popular demand I've decided to bring this series back for a week 2 and I'll continue to release 3-5 trading ideas every Saturday. How do you guys feel about the name of this series? Would you like me to change the name to something like "Setup Saturdays" or are you guys cool with the current naming scheme?
So this week I wanted to be a lot more in depth in my analysis and setups since I didn't think I was super clear last week with my reasoning on some the setups. I want these posts to be as beginner friendly as possible because there's a lot more beginners in this Subreddit than I had realized. I want you to use this as an educational tool and not as a signal service as a result I'm going to give you possible trade setups and I want you to be the judge of whether you should enter once/if price gets to that point since I feel like that will benefit beginners in the long run. I got a couple questions about top down time frame analysis so that'll be a focus of today's post. Scroll down to NZDJPY if you really want an in-depth look at how I perform top down time frame analysis.
I'll include a picture of a chart and my TradingView chart so if you want to zoom in and out of the chart you'll have that ability to do so.
Quick Disclaimer: Some of the charts pricing might be off by a bit since I started working on this during the New York session on Friday. If any of the charts are impacted in a way that alters the setup I'll be sure to update the charts before I post this on Saturday. Just gotta hope that hope that Powell doesn't break the market or else I might have to redo this entire post.
AUDUSD:

AUDUSD Daily
TradingView Link For Daily: https://www.tradingview.com/chart/AUDUSD/Wb5K2bS8-AUDUSD-Daily-For-Reddit-Post-6-20-U-AD3133/
Analysis: Which way is the trend pointing? It looks like it's pointing up which we can see with the green trend line but how about we zoom in to the 4 hour char to see if that's actually the case.
Tip: When drawing a trend line, especially on the daily and higher time frames, remember to hit as many wicks as possible since they are relevant and not just some anomaly you can ignore.

AUDUSD 4 Hour
TradingView Link For 4 Hour: https://www.tradingview.com/chart/AUDUSD/aah8294z-AUDUSD-4-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: When we got close to where we are with price and we draw a Fibonacci Retracement from the point where price took off to the point where price peaked we can see that price came down to .5 Fibonacci level where it then started going up again. Coincidence? Possibly. As a result I believe that price could continue higher and it would be justified if it did. However, if we look at the trend lines we can see that price appears to have broke put of of our major trend line (Green) which means that price could fall to the downside if it's actually a breakout. Price then appears like it would then adhere to the new minor trend line (Red). There's also the possibility that this was just a fake breakout and price could go up and adhere to green trend line. I'm going to have a selling bias on this trade since price looks like it double topped at the highs of this year and it looks like we could see price fall. I'm leaning towards the drop of price due to the symmetrical triangle pattern created by the major and minor trend line and looks like price is going to get pushed down which we should get an idea of soon.
Tip: Every time price makes a large move and falls/rises after making a peak/valley always pull out the Fibonacci retracement tool to see if price will bounce from the .382, .5, or .618 levels as they are the most significant levels. This can tell you if you're going to likely get a trend continuation.

AUDUSD 1 Hour
TradingView Link For 1 Hour: https://www.tradingview.com/chart/AUDUSD/IHgrnfYs-AUDUSD-1-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: I drew out multiple different scenarios which I think can play out since like I said before we're not trying to predict a single movement but we're preparing to be reactive to an ideal condition which may be thrown at us. Remember that major trend line we drew in on the daily chart well it's going to play a large role here. This trend line has been in the making since March so we're not just going to brush it off. The trend line appears to have been broken and we seem to be sticking that minor trend line after the break of the symmetrical triangle pattern. After the break of the symmetrical triangle pattern price usually gets pushed heavily to one side and it looks like price is wanting to get pushed to the downside. As a result, I'm going to really keep on eyes on scenario the blue arrows display since I think it's the most probable. Looking at the scenario there are going to be two potentially good entry points for a sell. The first being when price goes up to retest the green trend line which would also serve as a bounce from our red trend line. Once we get that bounce we could enter in for a sell with a take profit hopefully somewhere around the .66 area. Another good entry would be when price breaks the zone of support of .68 and after it retests it. Wait for a confirmation candlestick pattern showing price will fall when retesting (i.e. railroad track, bullish engulfment candle, evening star, shooting star, etc.). Look for these candlestick patterns on the 15 minute chart. Once you got the confirmation take the sell and ride price down to the .66 zone. The other scenario that could occur is we could see price go back into the green trend line by breaking the red trend line (Orange Arrows). If this occurs we want to catch the retest bounce of the red trend line and ride price up to the high of the year which is at .702. At that point price could break the resistance at which point we could catch the retest of the zone and ride price up. Or it could go up to .702 create a triple top and fall. If you get a candlestick confirmation saying it'll fall then take a sell at the high of the year.
NZDUSD:
If there's something I really like in Forex it's definitely got to be harmonic patterns due to their high accuracy. NZDUSD just recently completed one of them and this is a really good indicator of what price is going to do.

NZDUSD Daily
TradingView Chart For Daily: https://www.tradingview.com/chart/NZDUSD/zQpHzUcK-NZDUSD-Daily-For-Reddit-Post-6-20-U-AD3133/
Analysis: Yes, we have trend line that says that price is going up however I make exceptions for Harmonic patterns since they are accurate about 80%-90% of the time. The pattern you see above is know as a Bearish Bat Pattern. Like the name says it's an indicator that price is going to go Bearish so although the trend line is going up I'm going to have a bearish bias on this trade.

NZDUSD 4 Hour
TradingView Chart For 4 Hour: https://www.tradingview.com/chart/NZDUSD/C29kpCyO-NZDUSD-4-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: Not really much to add here just tossed on a Fibonacci retracement tool from where price took off to the peak just to check for any potential support from any of the major levels which we don't appear to have. We'll go a lot more in-depth on this pair on the 1 hour chart since that's where things get interesting.

NZDUSD 1 Hour
TradingView Link For 1 Hour: https://www.tradingview.com/chart/NZDUSD/dKJatcM7-NZDUSD-1-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: Looking at price we can see that since June 11th price has been trading in a boxed consolidation range. Again I drew out the possibilities I believe could be ideal for us. Remember that I said Harmonics work 80%-90%. Well that means that they fail 10%-20% of the time which is definitely not something we can neglect. We can see that there's a descending triangle which price is reaching the end of. This means that price is getting ready to move to one direction since big moves always come after consolidation. If it moves to upside wait for price to close above the the spot marked D then you can enter for a buy and ride price up to the .67525 zone where price could break to upside or bounce back down (Orange Arrow). Remember to wait for it to actually close above point D since it could create a triple top and drive price back down. It's the same procedure as AUDUSD here if it makes this move where if it breaks it then catch the retest and if it looks like it's wanting to fall down wait for a confirmation pattern. If it breaks the box to the downside and breaks the support zone then take a sell and ride price down to the trend line at which point you should close the trade as there's a chance price could move against you and it's best to secure profits while you can. Once at the trend line it could bounce and if it does you should be able to ride price up to that .67525 zone (Green Arrow). If price breaks the trend line then wait for the retest and you should be able to ride price down pretty far (Red Arrows). I think you should be able to ride it down to .5918 zone but you'll have to keep your on it.
EURNZD:

EURNZD Daily
TradingView Link For Daily: https://www.tradingview.com/chart/EURNZD/jzgmGcRe-EURNZD-Daily-For-Reddit-Post-6-20-U-AD3133/
Analysis: Well we got a pretty clear descending channel and price looks like it's at the top part of the channel currently so we're going to want to look for some optimal selling conditions due to the down trend.

EURNZD 4 Hour
TradingView Link For 4 Hour: https://www.tradingview.com/chart/EURNZD/YzOpvcH7-EURNZD-4-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: Looking at the 4 hour chart we can see that there appears to be a symmetrical triangle coming to it's end meaning price is getting ready to get pushed to a side. I believe it'll break the triangle and fall to the downside so once you see it break it would be a good idea to take a sell and ride price down to that support zone at 1.7187. Price could also briefly break to the upside then bounce off the top of the channel and it does take a trade from the bounce and ride price down to the same support zone. At that point, I'll leave it up to you to determine how you think price will go and what you should be looking for. Consider it to be a little quiz if you want to think of it like that. You've got my charts so use them as a reference since I've already marked some crucial support/resistance zones which we should keep our on for the next couple weeks.

EURNZD 1 Hour
TradingView Link For 1 Hour: https://www.tradingview.com/chart/EURNZD/ICWvgEsg-EURNZD-1-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: There's nothing that special on the one hour chart that I have to point out since I think we pretty much got all the big stuff out of the way on our analysis of the 4 hour chart. Be sure to get a good sell in there since there are two potentially good setups which I've outlined for you. Also be sure to be careful and wait for the bounce of the channel if price goes that way since there's a chance price could break the channel and I don't want you to take a loss because you were impatient.
NZDJPY:
This pair is going to be really fun since we're going to be looking through a lot of time frames so if you really want to learn about a top down approach to analyzing time frames and trends then pay very close attention to how I break down this trade.

NZDJPY Monthly
TradingView Link For Monthly: https://www.tradingview.com/chart/NZDJPY/jZh4F2Jv-NZDJPY-Monthly-For-Reddit-Post-6-20-U-AD3133/
Analysis: Yes, we're actually going to be looking at the monthly chart. I bet you guys don't do that very often. Looking at it we can see that price has been following a clear down trend line since late 2014. If you look at the wick of this month's candle you can see that it appears to have touched the trend line meaning we could see a good opportunity to catch a sell since it had just recently bounced off. Let's take a look at lower time frames to see if this continues to be true.

NZDJPY Weekly
TradingView Link For Weekly: https://www.tradingview.com/chart/NZDJPY/dpvI29BB-NZDJPY-Weekly-For-Reddit-Post-6-20-U-AD3133/
Analysis: When zooming into the weekly we can see that using the wicks of the candles we can actually draw a channel for the low portion that runs pretty much in parallel to the trend line we drew on the monthly chart. We can see that price clearly bounced from the trend line and I think this gives us good reason to believe in the coming weeks we could see the price drop. Also looking at the Bollinger Bands we can see that price also bounced from the top band which also supports a drop of price. Let's go into the daily to see if we can get a better idea.

NZDJPY Daily
TradingView Link For Daily: https://www.tradingview.com/chart/NZDJPY/NbWLURkU-NZDJPY-Daily-For-Reddit-Post-6-20-U-AD3133/
Analysis: Looking at the daily time frame we can see that price is currently consolidated and remember big moves always come after consolidation. If you look closely however you can see that price looks like it's about to break the 200 day EMA (Orange line). If it breaks the EMA we could see price drop pretty far at an accelerated rate. Besides those couple observations there's not much else going on with the daily chart.

NZDJPY 4 Hour
TradingView Link For 4 Hour: https://www.tradingview.com/chart/NZDJPY/d1kaogH5-NZDJPY-4-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: Would you look at that, it looks like we got a descending triangle on the 4 hour chart which looks like it's coming to an end. Looking at price it looks like it's wanting to push to the downside. Once you get a break below the lows of the day of June 11th I think it would be a safe bet to take a sell trade and ride it down for 66.825 for this week. If it breaks the 66.825 support zone then I'll definitely take a sell and try to ride price down to the bottom of the channel which we drew on the weekly chart. There's also the possibility that price could take support at any of these support zones and then head back up to test the top of the channel. At which point I'll be looking to get into a sell at the top of the channel but I won't ride price up to the channel since at this current point in time I feel like there's a large amount of risk in that.

NZDJPY 1 Hour
TradingView Link For 1 Hour: https://www.tradingview.com/chart/NZDJPY/83b47mFS-NZDJPY-1-Hour-For-Reddit-Post-6-20-U-AD3133/
Analysis: Not much more to add here since I think by this point we got the entire story so I'm not going to say much more about the 1 hour chart since I think the analysis for the 4 hour chart also sums this up pretty well.
Well that was a lot of information to go through and I hope you found some value in this since it took me quite a few hours to put this together for you guys. Truth be told, I spent most of Friday working on this so I hope at least one person finds some value in which case I'll consider it a win.
So you guys tired of me yet or do you want me to continue this series for a week 3? It takes a lot of time and effort to put this together so I'll only do it if people want it or else I'll pretty much feel like I wasted my time. I might put together a little lesson on how to use the COT in order to catch some big reversal moves in the market since the COT pretty much tells you what the hedge funds are doing and you also want to trade with the hedge funds and institutions. It'll probably take a couple weeks since I'll have to compile some data together and wait for a setup before putting that out but I'll be working on it. Are there any other things you may want explained? Let me know and I'll try to find setups which contain the topic you may want more details on. I hope you have a great trading week!
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