Forex 1000 PIPS - THE FOREX STORE

Save your time! Start to use #Signals from #Traderpulse and you could avoid sticking to your monitor for a long time. See the proof for 28 #pips in #EURJPY! Download it FREE now and join with the 1000s of users who get the benefits. https://traderpulse.com/forex-trade-signals/#pricing

Save your time! Start to use #Signals from #Traderpulse and you could avoid sticking to your monitor for a long time. See the proof for 28 #pips in #EURJPY! Download it FREE now and join with the 1000s of users who get the benefits. https://traderpulse.com/forex-trade-signals/#pricing submitted by traderpulse to u/traderpulse [link] [comments]

This is REALITY, over 1000 Pips Forex wins in just 4 days !

This is REALITY, over 1000 Pips Forex wins in just 4 days ! With our FOREX COPY trade services you can earn money with us !
t.me/joinchat/AAAAAERXm4xJnCeyWjxFYQ t.me/joinchat/AAAAAEOIvlOEW4WEJ1fAlg If you are intressted just contact us : [email protected]
submitted by samgbi to u/samgbi [link] [comments]

This is REALITY, over 1000 Pips Forex wins in just 4 days !

With our FOREX COPY trade services you can earn money with us !
t.me/joinchat/AAAAAERXm4xJnCeyWjxFYQ t.me/joinchat/AAAAAEOIvlOEW4WEJ1fAlg If you are intressted just contact us : [email protected]
submitted by samgbi to u/samgbi [link] [comments]

This is REALITY, over 1000 Pips Forex wins in just 4 days !

With our FOREX COPY trade services you can earn money with us !
t.me/joinchat/AAAAAERXm4xJnCeyWjxFYQ t.me/joinchat/AAAAAEOIvlOEW4WEJ1fAlg If you are intressted just contact us : [email protected]
submitted by samgbi to u/samgbi [link] [comments]

This is REALITY, over 1000 Pips Forex wins in just 4 days !

With our FOREX COPY trade services you can earn money with us !
t.me/joinchat/AAAAAERXm4xJnCeyWjxFYQ t.me/joinchat/AAAAAEOIvlOEW4WEJ1fAlg If you are intressted just contact us : [email protected]
submitted by samgbi to u/samgbi [link] [comments]

This is REALITY, over 1000 Pips Forex wins in just 4 days !

With our FOREX COPY trade services you can earn money with us !
t.me/joinchat/AAAAAERXm4xJnCeyWjxFYQ t.me/joinchat/AAAAAEOIvlOEW4WEJ1fAlg If you are intressted just contact us : [email protected]
submitted by samgbi to u/samgbi [link] [comments]

This is REALITY, over 1000 Pips Forex wins in just 4 days !

With our FOREX COPY trade services you can earn money with us !
t.me/joinchat/AAAAAERXm4xJnCeyWjxFYQ t.me/joinchat/AAAAAEOIvlOEW4WEJ1fAlg If you are intressted just contact us : [email protected]
submitted by samgbi to u/samgbi [link] [comments]

COPPER CUUUSD Forex Signal August 28th UPDATE 1000 PIPS

COPPER CUUUSD Forex Signal August 28th UPDATE 1000 PIPS submitted by svetamalka to ForexDayTrading [link] [comments]

Mega Trade of the Month | The Yen Trade | 1000 Pips | Forex Blog | News | Events | Chart

submitted by platinumtrading to forex_trades [link] [comments]

I am just getting into forex but i do not understand how much each pip is worth in a trade. In this trade can someone show me the math as to how I made $69 profit?

I am just getting into forex but i do not understand how much each pip is worth in a trade. In this trade can someone show me the math as to how I made $69 profit? submitted by StevenMendieta to Forex [link] [comments]

I have an 89% win rate over 18 trades, with a 27% profit. How many trades should I do before going live?

So I've been doing some scalping on pairs with high spreads in cryptocurrencies previously with great success, but I finally figured I'd give forex a real shot (was into it a few years ago, but didn't go live). Last time I scalped in crypto, I had 14 out of 14 successful trades, but only about a 10% profit. I haven't heard about anyone scalping the way I do in crypto, but I find my method extremely reliable when I just find the right pair to trade. This is just to say I have some experience with trading, but I'm by no means an expert.
Now, I've been scalping the past few days with a paper trading account on TradingView. I've mostly been trading the US Currency Index, S&P 500 and some crypto pairs thus far. I'm scalping on the 1m time frame using bollinger bands and looking at trends, price action and stoch RSI for confirmation on my entries. I started out with 100k a few days ago and first doubled my account to around 200k and then did a 1,3 mill trade, but I was running like 500-1000 USD per pip, so if the market turned against me, I'd be liquidated real quick. While the trades were good, I figured I was disconnected from the risk I was taking because it isn't real money, and I wanted to try doing more conservative and realistic trades, so I reset the account yesterday.
Edit (more trades done): Since the account was reset, I've done 45 trades where I've lost on two of them. If my math serves me right, that's about an 95.5% win rate. I'm up around 77.5% currently. I did lose 1500 on one trade, but that's because I by mistake placed a sell order when I was supposed to add another buy order double down on my long position, so I'm not counting that one in (but I'm not counting the 1500 I lost as profit either). I have a very strict strategy I'm sticking to when doing these scalps. I realize 45 trades is not a huge sample size, but that is kinda why I'm asking:
How many trades should I do on the paper trading account before I should run it live with confidence?
For anyone who might be interested, here's my account history: https://imgur.com/a/zuRSWwd
Edit: here's 6 trades more: https://imgur.com/a/CmbyU6n
Edit2: some more trades: https://imgur.com/a/q9xqVyq
Edit3: I think we're up to 45 trades now: https://imgur.com/a/CsWZEN7
submitted by imawfullyaverage to Forex [link] [comments]

Read Carefully Experts!

This may appear to be a noob question, but read on carefully and please try and understand the point I'm trying to make! I'm hoping your answers might be helpful to people both learning Forex and looking to get into it, so please don't hate on me for this post.
I am relatively new to FX and have learned about break and retest strategies, MACD crossovers and stop losses below structure and risk to reward ratios (usually going for 1:1 or 2/3:1) and so on. I say this only so you know I've a general (very basic) understanding of charts, price action etc.
I definitely do NOT expect to step into the markets and instantly win a majority of my trades, however, to illustrate my thoughts please note the example below.
If I am winning 2% on a winning trade and losing 1% on a losing trade (2:1 reward risk per trade), a strategy that wins just 50% of the time trading once per trading day would be +10% each month. (10 days of -1%, 10 days of +2%). +10% is a HUGE increase in accounts and if a $1000 account was +10% per month for 12 months the end of year balance would be over $3138.43 or a 213.84% return!
This leads me to a theory that almost NO system can be returning 50% on a 2:1 reward risk, even with careful trade selection (let's say I monitor the 7 major pairs, gold and GBP/JPY as I do and pick one entry a day) Am I wrong? I appreciate it is a hypothetical example designed to make a point, but my thoughts are if you monitored lots of pairs and took only ONE entry a day, we might expect to win 50% of the time.
Let's expand this further. I have seen numerous algos (can't name them but looking like they win at LEAST 50% of the time) which tempt me because they appear to indicate moves I could jump on and where I could pull a bunch of pips out of the market. However, there surely cannot be a holy grail or are people making this type of insane return? It cannot be as easy as buying an algo, signing up to $300,000 worth of FTMO funding and earning 10% per month for an easy $21,000 per month income with profit share. Or maybe it is and I'm just cynical?! I end up getting tempted by courses etc. in the hope that if I spent £400 on a good course it would open the door to what I need to do, but I'm nervous this is just another huge mistake.
I genuinely would love to trade Forex for a living. Really I would. I hope it's possible and I hope to learn a strategy I can wash, rinse and repeat. I love watching videos and live streamers who seem to have a great understanding of what's going on but I wonder if it's really possible. It seems a million miles away but I'm determined to keep learning and trading.
Reading your considered thoughts to this post would be helpful for me and I'm sure others and thank you for reading it.
submitted by mal4291 to Forex [link] [comments]

Former investment bank FX trader: Risk management part II

Former investment bank FX trader: Risk management part II
Firstly, thanks for the overwhelming comments and feedback. Genuinely really appreciated. I am pleased 500+ of you find it useful.
If you didn't read the first post you can do so here: risk management part I. You'll need to do so in order to make sense of the topic.
As ever please comment/reply below with questions or feedback and I'll do my best to get back to you.
Part II
  • Letting stops breathe
  • When to change a stop
  • Entering and exiting winning positions
  • Risk:reward ratios
  • Risk-adjusted returns

Letting stops breathe

We talked earlier about giving a position enough room to breathe so it is not stopped out in day-to-day noise.
Let’s consider the chart below and imagine you had a trailing stop. It would be super painful to miss out on the wider move just because you left a stop that was too tight.

Imagine being long and stopped out on a meaningless retracement ... ouch!
One simple technique is simply to look at your chosen chart - let’s say daily bars. And then look at previous trends and use the measuring tool. Those generally look something like this and then you just click and drag to measure.
For example if we wanted to bet on a downtrend on the chart above we might look at the biggest retracement on the previous uptrend. That max drawdown was about 100 pips or just under 1%. So you’d want your stop to be able to withstand at least that.
If market conditions have changed - for example if CVIX has risen - and daily ranges are now higher you should incorporate that. If you know a big event is coming up you might think about that, too. The human brain is a remarkable tool and the power of the eye-ball method is not to be dismissed. This is how most discretionary traders do it.
There are also more analytical approaches.
Some look at the Average True Range (ATR). This attempts to capture the volatility of a pair, typically averaged over a number of sessions. It looks at three separate measures and takes the largest reading. Think of this as a moving average of how much a pair moves.
For example, below shows the daily move in EURUSD was around 60 pips before spiking to 140 pips in March. Conditions were clearly far more volatile in March. Accordingly, you would need to leave your stop further away in March and take a correspondingly smaller position size.

ATR is available on pretty much all charting systems
Professional traders tend to use standard deviation as a measure of volatility instead of ATR. There are advantages and disadvantages to both. Averages are useful but can be misleading when regimes switch (see above chart).
Once you have chosen a measure of volatility, stop distance can then be back-tested and optimised. For example does 2x ATR work best or 5x ATR for a given style and time horizon?
Discretionary traders may still eye-ball the ATR or standard deviation to get a feeling for how it has changed over time and what ‘normal’ feels like for a chosen study period - daily, weekly, monthly etc.

Reasons to change a stop

As a general rule you should be disciplined and not change your stops. Remember - losers average losers. This is really hard at first and we’re going to look at that in more detail later.
There are some good reasons to modify stops but they are rare.
One reason is if another risk management process demands you stop trading and close positions. We’ll look at this later. In that case just close out your positions at market and take the loss/gains as they are.
Another is event risk. If you have some big upcoming data like Non Farm Payrolls that you know can move the market +/- 150 pips and you have no edge going into the release then many traders will take off or scale down their positions. They’ll go back into the positions when the data is out and the market has quietened down after fifteen minutes or so. This is a matter of some debate - many traders consider it a coin toss and argue you win some and lose some and it all averages out.
Trailing stops can also be used to ‘lock in’ profits. We looked at those before. As the trade moves in your favour (say up if you are long) the stop loss ratchets with it. This means you may well end up ‘stopping out’ at a profit - as per the below example.

The mighty trailing stop loss order
It is perfectly reasonable to have your stop loss move in the direction of PNL. This is not exposing you to more risk than you originally were comfortable with. It is taking less and less risk as the trade moves in your favour. Trend-followers in particular love trailing stops.
One final question traders ask is what they should do if they get stopped out but still like the trade. Should they try the same trade again a day later for the same reasons? Nope. Look for a different trade rather than getting emotionally wed to the original idea.
Let’s say a particular stock looked cheap based on valuation metrics yesterday, you bought, it went down and you got stopped out. Well, it is going to look even better on those same metrics today. Maybe the market just doesn’t respect value at the moment and is driven by momentum. Wait it out.
Otherwise, why even have a stop in the first place?

Entering and exiting winning positions

Take profits are the opposite of stop losses. They are also resting orders, left with the broker, to automatically close your position if it reaches a certain price.
Imagine I’m long EURUSD at 1.1250. If it hits a previous high of 1.1400 (150 pips higher) I will leave a sell order to take profit and close the position.
The rookie mistake on take profits is to take profit too early. One should start from the assumption that you will win on no more than half of your trades. Therefore you will need to ensure that you win more on the ones that work than you lose on those that don’t.

Sad to say but incredibly common: retail traders often take profits way too early
This is going to be the exact opposite of what your emotions want you to do. We are going to look at that in the Psychology of Trading chapter.
Remember: let winners run. Just like stops you need to know in advance the level where you will close out at a profit. Then let the trade happen. Don’t override yourself and let emotions force you to take a small profit. A classic mistake to avoid.
The trader puts on a trade and it almost stops out before rebounding. As soon as it is slightly in the money they spook and cut out, instead of letting it run to their original take profit. Do not do this.

Entering positions with limit orders

That covers exiting a position but how about getting into one?
Take profits can also be left speculatively to enter a position. Sometimes referred to as “bids” (buy orders) or “offers” (sell orders). Imagine the price is 1.1250 and the recent low is 1.1205.
You might wish to leave a bid around 1.2010 to enter a long position, if the market reaches that price. This way you don’t need to sit at the computer and wait.
Again, typically traders will use tech analysis to identify attractive levels. Again - other traders will cluster with your orders. Just like the stop loss we need to bake that in.
So this time if we know everyone is going to buy around the recent low of 1.1205 we might leave the take profit bit a little bit above there at 1.1210 to ensure it gets done. Sure it costs 5 more pips but how mad would you be if the low was 1.1207 and then it rallied a hundred points and you didn’t have the trade on?!
There are two more methods that traders often use for entering a position.
Scaling in is one such technique. Let’s imagine that you think we are in a long-term bulltrend for AUDUSD but experiencing a brief retracement. You want to take a total position of 500,000 AUD and don’t have a strong view on the current price action.
You might therefore leave a series of five bids of 100,000. As the price moves lower each one gets hit. The nice thing about scaling in is it reduces pressure on you to pick the perfect level. Of course the risk is that not all your orders get hit before the price moves higher and you have to trade at-market.
Pyramiding is the second technique. Pyramiding is for take profits what a trailing stop loss is to regular stops. It is especially common for momentum traders.

Pyramiding into a position means buying more as it goes in your favour
Again let’s imagine we’re bullish AUDUSD and want to take a position of 500,000 AUD.
Here we add 100,000 when our first signal is reached. Then we add subsequent clips of 100,000 when the trade moves in our favour. We are waiting for confirmation that the move is correct.
Obviously this is quite nice as we humans love trading when it goes in our direction. However, the drawback is obvious: we haven’t had the full amount of risk on from the start of the trend.
You can see the attractions and drawbacks of both approaches. It is best to experiment and choose techniques that work for your own personal psychology as these will be the easiest for you to stick with and build a disciplined process around.

Risk:reward and win ratios

Be extremely skeptical of people who claim to win on 80% of trades. Most traders will win on roughly 50% of trades and lose on 50% of trades. This is why risk management is so important!
Once you start keeping a trading journal you’ll be able to see how the win/loss ratio looks for you. Until then, assume you’re typical and that every other trade will lose money.
If that is the case then you need to be sure you make more on the wins than you lose on the losses. You can see the effect of this below.

A combination of win % and risk:reward ratio determine if you are profitable
A typical rule of thumb is that a ratio of 1:3 works well for most traders.
That is, if you are prepared to risk 100 pips on your stop you should be setting a take profit at a level that would return you 300 pips.
One needn’t be religious about these numbers - 11 pips and 28 pips would be perfectly fine - but they are a guideline.
Again - you should still use technical analysis to find meaningful chart levels for both the stop and take profit. Don’t just blindly take your stop distance and do 3x the pips on the other side as your take profit. Use the ratio to set approximate targets and then look for a relevant resistance or support level in that kind of region.

Risk-adjusted returns

Not all returns are equal. Suppose you are examining the track record of two traders. Now, both have produced a return of 14% over the year. Not bad!
The first trader, however, made hundreds of small bets throughout the year and his cumulative PNL looked like the left image below.
The second trader made just one bet — he sold CADJPY at the start of the year — and his PNL looked like the right image below with lots of large drawdowns and volatility.
Would you rather have the first trading record or the second?
If you were investing money and betting on who would do well next year which would you choose? Of course all sensible people would choose the first trader. Yet if you look only at returns one cannot distinguish between the two. Both are up 14% at that point in time. This is where the Sharpe ratio helps .
A high Sharpe ratio indicates that a portfolio has better risk-adjusted performance. One cannot sensibly compare returns without considering the risk taken to earn that return.
If I can earn 80% of the return of another investor at only 50% of the risk then a rational investor should simply leverage me at 2x and enjoy 160% of the return at the same level of risk.
This is very important in the context of Execution Advisor algorithms (EAs) that are popular in the retail community. You must evaluate historic performance by its risk-adjusted return — not just the nominal return. Incidentally look at the Sharpe ratio of ones that have been live for a year or more ...
Otherwise an EA developer could produce two EAs: the first simply buys at 1000:1 leverage on January 1st ; and the second sells in the same manner. At the end of the year, one of them will be discarded and the other will look incredible. Its risk-adjusted return, however, would be abysmal and the odds of repeated success are similarly poor.

Sharpe ratio

The Sharpe ratio works like this:
  • It takes the average returns of your strategy;
  • It deducts from these the risk-free rate of return i.e. the rate anyone could have got by investing in US government bonds with very little risk;
  • It then divides this total return by its own volatility - the more smooth the return the higher and better the Sharpe, the more volatile the lower and worse the Sharpe.
For example, say the return last year was 15% with a volatility of 10% and US bonds are trading at 2%. That gives (15-2)/10 or a Sharpe ratio of 1.3. As a rule of thumb a Sharpe ratio of above 0.5 would be considered decent for a discretionary retail trader. Above 1 is excellent.
You don’t really need to know how to calculate Sharpe ratios. Good trading software will do this for you. It will either be available in the system by default or you can add a plug-in.

VAR

VAR is another useful measure to help with drawdowns. It stands for Value at Risk. Normally people will use 99% VAR (conservative) or 95% VAR (aggressive). Let’s say you’re long EURUSD and using 95% VAR. The system will look at the historic movement of EURUSD. It might spit out a number of -1.2%.

A 5% VAR of -1.2% tells you you should expect to lose 1.2% on 5% of days, whilst 95% of days should be better than that
This means it is expected that on 5 days out of 100 (hence the 95%) the portfolio will lose 1.2% or more. This can help you manage your capital by taking appropriately sized positions. Typically you would look at VAR across your portfolio of trades rather than trade by trade.
Sharpe ratios and VAR don’t give you the whole picture, though. Legendary fund manager, Howard Marks of Oaktree, notes that, while tools like VAR and Sharpe ratios are helpful and absolutely necessary, the best investors will also overlay their own judgment.
Investors can calculate risk metrics like VaR and Sharpe ratios (we use them at Oaktree; they’re the best tools we have), but they shouldn’t put too much faith in them. The bottom line for me is that risk management should be the responsibility of every participant in the investment process, applying experience, judgment and knowledge of the underlying investments.Howard Marks of Oaktree Capital
What he’s saying is don’t misplace your common sense. Do use these tools as they are helpful. However, you cannot fully rely on them. Both assume a normal distribution of returns. Whereas in real life you get “black swans” - events that should supposedly happen only once every thousand years but which actually seem to happen fairly often.
These outlier events are often referred to as “tail risk”. Don’t make the mistake of saying “well, the model said…” - overlay what the model is telling you with your own common sense and good judgment.

Coming up in part III

Available here
Squeezes and other risks
Market positioning
Bet correlation
Crap trades, timeouts and monthly limits

***
Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

PSA: The markets will be closed on Friday

This Friday is Good Friday and the markets will be closed.
This means if there are any trades you want to make before the weekend you better do it tomorrow.
Just trying to make sure none of you get caught with your pants down.
USO 5.50c 4/17
USO 4.50p 4/17
submitted by treydilla to wallstreetbets [link] [comments]

Forex Signals Reddit: top providers review (part 1)

Forex Signals Reddit: top providers review (part 1)

Forex Signals - TOP Best Services. Checked!

To invest in the financial markets, we must acquire good tools that help us carry out our operations in the best possible way. In this sense, we always talk about the importance of brokers, however, signal systems must also be taken into account.
The platforms that offer signals to invest in forex provide us with alerts that will help us in a significant way to be able to carry out successful operations.
For this reason, we are going to tell you about the importance of these alerts in relation to the trading we carry out, because, without a doubt, this type of system will provide us with very good information to invest at the right time and in the best assets in the different markets. financial
Within this context, we will focus on Forex signals, since it is the most important market in the world, since in it, multiple transactions are carried out on a daily basis, hence the importance of having an alert system that offers us all the necessary data to invest in currencies.
Also, as we all already know, cryptocurrencies have become a very popular alternative to investing in traditional currencies. Therefore, some trading services/tools have emerged that help us to carry out successful operations in this particular market.
In the following points, we will detail everything you need to know to start operating in the financial markets using trading signals: what are signals, how do they work, because they are a very powerful help, etc. Let's go there!

What are Forex Trading Signals?

https://preview.redd.it/vjdnt1qrpny51.jpg?width=640&format=pjpg&auto=webp&s=bc541fc996701e5b4dd940abed610b59456a5625
Before explaining the importance of Forex signals, let's start by making a small note so that we know what exactly these alerts are.
Thus, we will know that the signals on the currency market are received by traders to know all the information that concerns Forex, both for assets and for the market itself.
These alerts allow us to know the movements that occur in the Forex market and the changes that occur in the different currency pairs. But the great advantage that this type of system gives us is that they provide us with the necessary information, to know when is the right time to carry out our investments.
In other words, through these signals, we will know the opportunities that are presented in the market and we will be able to carry out operations that can become quite profitable.
Profitability is precisely another of the fundamental aspects that must be taken into account when we talk about Forex signals since the vast majority of these alerts offer fairly reliable data on assets. Similarly, these signals can also provide us with recommendations or advice to make our operations more successful.

»Purpose: predict movements to carry out Profitable Operations

In short, Forex signal systems aim to predict the behavior that the different assets that are in the market will present and this is achieved thanks to new technologies, the creation of specialized software, and of course, the work of financial experts.
In addition, it must also be borne in mind that the reliability of these alerts largely lies in the fact that they are prepared by financial professionals. So they turn out to be a perfect tool so that our investments can bring us a greater number of benefits.

The best signal services today

We are going to tell you about the 3 main alert system services that we currently have on the market. There are many more, but I can assure these are not scams and are reliable. Of course, not 100% of trades will be a winner, so please make sure you apply proper money management and risk management system.

1. 1000pipbuilder (top choice)

Fast track your success and follow the high-performance Forex signals from 1000pip Builder. These Forex signals are rated 5 stars on Investing.com, so you can follow every signal with confidence. All signals are sent by a professional trader with over 10 years investment experience. This is a unique opportunity to see with your own eyes how a professional Forex trader trades the markets.
The 1000pip Builder Membership is ordinarily a signal service for Forex trading. You will get all the facts you need to successfully comply with the trading signals, set your stop loss and take earnings as well as additional techniques and techniques!
You will get easy to use trading indicators for Forex Trades, including your entry, stop loss and take profit. Overall, the earnings target per months is 350 Pips, depending on your funding this can be a high profit per month! (In fact, there is by no means a guarantee, but the past months had been all between 600 – 1000 Pips).
>>>Know more about 1000pipbuilder
Your 1000pip builder membership gives you all in hand you want to start trading Forex with success. Read the directions and wait for the first signals. You can trade them inside your demo account first, so you can take a look at the performance before you make investments real money!
Features:
  • Free Trial
  • Forex signals sent by email and SMS
  • Entry price, take profit and stop loss provided
  • Suitable for all time zones (signals sent over 24 hours)
  • MyFXBook verified performance
  • 10 years of investment experience
  • Target 300-400 pips per month
Pricing:
https://preview.redd.it/zjc10xx6ony51.png?width=668&format=png&auto=webp&s=9b0eac95f8b584dc0cdb62503e851d7036c0232b
VISIT 1000ipbuilder here

2. DDMarkets

Digital Derivatives Markets (DDMarkets) have been providing trade alert offerings since May 2014 - fully documenting their change ideas in an open and transparent manner.
September 2020 performance report for DD Markets.
Their manner is simple: carry out extensive research, share their evaluation and then deliver a trading sign when triggered. Once issued, daily updates on the trade are despatched to members via email.
It's essential to note that DDMarkets do not tolerate floating in an open drawdown in an effort to earnings at any cost - a common method used by less professional providers to 'fudge' performance statistics.
Verified Statistics: Not independently verified.
Price: plans from $74.40 per month.
Year Founded: 2014
Suitable for Beginners: Yes, (includes handy to follow trade analysis)
VISIT
-------

3. JKonFX

If you are looking or a forex signal service with a reliable (and profitable) music record you can't go previous Joel Kruger and the team at JKonFX.
Trading performance file for JKonFX.
Joel has delivered a reputable +59.18% journal performance for 2016, imparting real-time technical and fundamental insights, in an extremely obvious manner, to their 30,000+ subscriber base. Considered a low-frequency trader, alerts are only a small phase of the overall JKonFX subscription. If you're searching for hundreds of signals, you may want to consider other options.
Verified Statistics: Not independently verified.
Price: plans from $30 per month.
Year Founded: 2014
Suitable for Beginners: Yes, (includes convenient to follow videos updates).
VISIT

The importance of signals to invest in Forex

Once we have known what Forex signals are, we must comment on the importance of these alerts in relation to our operations.
As we have already told you in the previous paragraph, having a system of signals to be able to invest is quite advantageous, since, through these alerts, we will obtain quality information so that our operations end up being a true success.

»Use of signals for beginners and experts

In this sense, we have to say that one of the main advantages of Forex signals is that they can be used by both beginners and trading professionals.
As many as others can benefit from using a trading signal system because the more information and resources we have in our hands. The greater probability of success we will have. Let's see how beginners and experts can take advantage of alerts:
  • Beginners: for inexperienced these alerts become even more important since they will thus have an additional tool that will guide them to carry out all operations in the Forex market.
  • Professionals: In the same way, professionals are also recommended to make use of these alerts, so they have adequate information to continue bringing their investments to fruition.
Now that we know that both beginners and experts can use forex signals to invest, let's see what other advantages they have.

»Trading automation

When we dedicate ourselves to working in the financial world, none of us can spend 24 hours in front of the computer waiting to perform the perfect operation, it is impossible.
That is why Forex signals are important, because, in order to carry out our investments, all we will have to do is wait for those signals to arrive, be attentive to all the alerts we receive, and thus, operate at the right time according to the opportunities that have arisen.
It is fantastic to have a tool like this one that makes our work easier in this regard.

»Carry out profitable Forex operations

These signals are also important, because the vast majority of them are usually quite profitable, for this reason, we must get an alert system that provides us with accurate information so that our operations can bring us great benefits.
But in addition, these Forex signals have an added value and that is that they are very easy to understand, therefore, we will have a very useful tool at hand that will not be complicated and will end up being a very beneficial weapon for us.

»Decision support analysis

A system of currency market signals is also very important because it will help us to make our subsequent decisions.
We cannot forget that, to carry out any type of operation in this market, previously, we must meditate well and know the exact moment when we will know that our investments are going to bring us profits .
Therefore, all the information provided by these alerts will be a fantastic basis for future operations that we are going to carry out.

»Trading Signals made by professionals

Finally, we have to recall the idea that these signals are made by the best professionals. Financial experts who know perfectly how to analyze the movements that occur in the market and changes in prices.
Hence the importance of alerts, since they are very reliable and are presented as a necessary tool to operate in Forex and that our operations are as profitable as possible.

What should a signal provider be like?

https://preview.redd.it/j0ne51jypny51.png?width=640&format=png&auto=webp&s=5578ff4c42bd63d5b6950fc6401a5be94b97aa7f
As you have seen, Forex signal systems are really important for our operations to bring us many benefits. For this reason, at present, there are multiple platforms that offer us these financial services so that investing in currencies is very simple and fast.
Before telling you about the main services that we currently have available in the market, it is recommended that you know what are the main characteristics that a good signal provider should have, so that, at the time of your choice, you are clear that you have selected one of the best systems.

»Must send us information on the main currency pairs

In this sense, one of the first things we have to comment on is that a good signal provider, at a minimum, must send us alerts that offer us information about the 6 main currencies, in this case, we refer to the euro, dollar, The pound, the yen, the Swiss franc, and the Canadian dollar.
Of course, the data you provide us will be related to the pairs that make up all these currencies. Although we can also find systems that offer us information about other minorities, but as we have said, at a minimum, we must know these 6.

»Trading tools to operate better

Likewise, signal providers must also provide us with a large number of tools so that we can learn more about the Forex market.
We refer, for example, to technical analysis above all, which will help us to develop our own strategies to be able to operate in this market.
These analyzes are always prepared by professionals and study, mainly, the assets that we have available to invest.

»Different Forex signals reception channels

They must also make available to us different ways through which they will send us the Forex signals, the usual thing is that we can acquire them through the platform's website, or by a text message and even through our email.
In addition, it is recommended that the signal system we choose sends us a large number of alerts throughout the day, in order to have a wide range of possibilities.

»Free account and customer service

Other aspects that we must take into account to choose a good signal provider is whether we have the option of receiving, for a limited time, alerts for free or the profitability of the signals they emit to us.
Similarly, a final aspect that we must emphasize is that a good signal system must also have excellent customer service, which is available to us 24 hours a day and that we can contact them at through an email, a phone number, or a live chat, for greater immediacy.
Well, having said all this, in our last section we are going to tell you which are the best services currently on the market. That is, the most suitable Forex signal platforms to be able to work with them and carry out good operations. In this case, we will talk about ForexPro Signals, 365 Signals and Binary Signals.

Forex Signals Reddit: conclusion

To be able to invest properly in the Forex market, it is convenient that we get a signal system that provides us with all the necessary information about this market. It must be remembered that Forex is a very volatile market and therefore, many movements tend to occur quickly.
Asset prices can change in a matter of seconds, hence the importance of having a system that helps us analyze the market and thus know, what is the right time for us to start operating.
Therefore, although there are currently many signal systems that can offer us good services, the three that we have mentioned above are the ones that are best valued by users, which is why they are the best signal providers that we can choose to carry out. our investments.
Most of these alerts are quite profitable and in addition, these systems usually emit a large number of signals per day with full guarantees. For all this, SignalsForexPro, Signals365, or SignalsBinary are presented as fundamental tools so that we can obtain a greater number of benefits when we carry out our operations in the currency market.
submitted by kayakero to makemoneyforexreddit [link] [comments]

Thoughts on FairForex Broker

Hey guys/gals. I’ve kinda got two questions in here, the main one is about FairForex though. Anybody have any experience dealing with them? I know they’re offshore/unregulated and that can be sketchy/has potential to be fucked. But the group I’m with all use them and have good things to say. 1:400 leverage, only a minimum of $100, and decent spreads. Not heard too many gripes about customer service or fucky withdrawal methods. I’m only looking to start with about 200 bucks on my live account (doing DEMO right now). I’ve got a TD Ameritrade account and would like to use them but I can’t get approved for margins with that little initial capital.
And for part two
So I’m about two months in to this forex game. I was brought in by two of my buddies from HS and they got me signed up with their team on IML Academy ( I know I know). I’ve found that they’re 46 video academy has been just OK. Honestly I find that these “gurus” or leaders are pretty awful at actually teaching and explaining things, though it has done a good job of pointing me in the right direction in being able to research further about certain topics. The team I’m on seems to be very supportive, they don’t push me to do recruiting or anything. Zoom chats at least every day, though 3/4 are about the “winning mentality” with the other 1 being about trading. But even when I tap in for that one those guys are honestly terrible teachers, pretty bad at explaining thought processes and reasoning behind taking certain trades. They’ve got me in two signal chats that usually put up at least 400-1000 pips a week depending on if they’re just doing pairs or if they throw some Indices in there too.
Should I stick around and use the signal chat to at leastbreak even while I learn my way, or just cut my losses and figure all this shit out and be my own self made man? Anyone been in my shoes before, shitty pyramid scheme but has a good team?
Also anyone have thoughts on the harmonic scanner? That’s the tool they have us laying for
TL;DR Anyone have thoughts on FairForex as a broker? Also I’m in IML Academy, find that the videos are pretty bogus but my team is good. Should I stick around?
submitted by guywholikesplants to Forex [link] [comments]

ASIC Regulation Thread - Regarding the proposed changes ( Australians effected the most )

I'm hopeless at formatting text, so if you think you can structure this post better take everything i write and put it into an easy to digest way. I'm just going to type out everything i know in text as fast as possible. I'm not a legal expert, I'm not somehow who understands every bit of information in the PDF's below, but i know I'm a retail trader that uses leverage to make profit which is why I'm posting this, in the hope that someone who can run a charge better than me, will.
Some of you are already aware of what might be happening, this is just a post to educate retail traders on changes that might be coming to certain brokers. This effects Australian Customers the most, but also effects those living in other countries that use Australian brokers, such as Pepperstone and others.
Last year in August 2019, ASIC ( Australian Securities and Investments Commission ) was concerned about retail traders going into Forex and Binary options without understanding these instruments properly and started sticking their noses in for tough regulation.
ASIC asked brokers and anyone with interest in the industry to write to them and explain what should and should not change from the changes they proposed, some of the proposed changes are very misguided and come from a lack of understanding exactly how OTC derivatives actually work.
I will provide the link to the paper further down so you can read it yourself and i will provide a link to all the submission made by all parties that sent submissions to ASIC, however the 2 main points of debate are:
1, To reduce the overall leverage available to retail traders to either 20:1 or 30:1. This means people who currently use leverage such as 100:1 to 500:1 and everything in between will be effected the most, even more so are those traders with relatively small accounts, meaning in order to get your foot in the door to trading you will need more capital for it to be viable.
^^ This point above is very important.
2, The removing of Binary options trading, which basically includes products like "Bet if gold will rise to this price in the next 30 seconds" This sort of stuff. So far from all the submissions from brokers and individuals nobody really cares if this changes as far as i know, though if you have concerns about this i would start voicing your disapproval. Though i would not waste your time here, all is pointing to this being eradicated completely with brokers also supporting the changes, I've never used such a product and know very little about them.
^^ This point above isn't very important and will probably be enforced in the future.
Still to this day i see retail traders not understanding leverage, they think of it as "dangerous and scary", it's not, position size is the real danger, not leverage. So ASIC is aiming to limit retail traders access to high leverage, they are claiming it is a way to protect traders who don't really understand what they are getting into by attacking leverage and not the real problem which is position size relative to your capital.
If it was truly about protecting retail traders from blowing up their accounts, they would look for ways to educate traders on "understanding position sizes and why it's important" rather than attacking leverage, but their goal is misguided or has an ulterior motive . I will give you a small example below.
EXAMPLE - We will use 2 demo accounts for demonstration purposes. If you don't understand my example, i suggest you try it for yourself. - Skip if not interested in examples.
Lets say we open 2 demo accounts with $1000 in both, one with 20:1 leverage and one with 500:1 leverage and we open an identical position on both accounts ( say a micro lot '0.01' on EURUSD ). You are safer on the 500:1 account as you don't need to put up as much margin as collateral as you would on the 20:1. If the trade we just opened goes against us and continues against us, the account with 20:1 leverage will run out of free margin a lot faster than the 500:1 account. In this simple example is shows you that leverage is not dangerous but safer and gives you a lot more breathing room. This trade was a small micro lot, so it would take hundreds of pips movements to get margin called and blow up that $1000 on each account. Lets now use a different position size to truly understand why retail traders blow up accounts and is the reason why trading can be dangerous.
This time instead of opening a micro lot of '0.01' on our $1000 dollar demo accounts, lets open a position size much larger, 5 lots. Remember we only have $1000 and we are about to open a position much larger relative to our capital ( which we should never do because we can't afford to do that ) the 20:1 probably wont even let you place that trade if you don't have enough margin as collateral or if you could open the position you would have a very tiny amount of free margin left over, meaning a small pip movement against you will instantly blow up your $1000 account. On the 500:1 account you wouldn't need to put up as much margin as collateral with more free margin if the trade goes bad, but again a small movement could blow up your account. In this example, both accounts were dangerous because the lack of understanding position sizes, opening a position you can't afford to open. This is what the true danger is, not the leverage.
Even in the second example, the higher leverage would "margin call" you out later. So i would go as far to say that lower leverage is more dangerous for you because it margin calls you out faster and just by having a lower leverage doesn't stop you from opening big positions that can blow you up in a 5 pip movement anymore, any leverage size is dangerous if you're opening positions you can't afford to open. This is also taking into consideration that no risk management is being used, with risk management higher leverage is even more powerful.
ASIC believes lowering leverage will stop people opening positions that they can't afford. When the reality is no matter how much capital you have $500, $1000, $5000, $50,000, $500,000, $5,000,000. You don't open position sizes that will blow that capital up completely with small movements. The same thing can happen on a 20:1 or 500:1 account.
Leverage is a tool, use it, if your on a lower leverage already such as 20:1, 30:1 it means your country has been regulated and you already have harder trading conditions. Just remember higher leverage allows you to open larger position sizes in total for the amount of money you own, but the issue is NOT that your using the higher leverage but because you are opening positions you can't afford, for what ever reason that is, the only fix for this is education and will not be fixed by simply lowing leverage, since you can just as easy blow up your account on low leverage just as fast or if not faster.
So what is going on?
There might ( get your tinfoil hats on ) be more that is involved here, deeper than you think, other agendas to try and stop small time retail traders from making money via OTC products, theories such as governments not wanting their citizens to be traders, rather would prefer you to get out there and work a 9 to 5 instead. Effective ways to do this would be making conditions harder with a much larger barrier of entry and the best way to increase the barrier of entry for retail traders is to limit leverage, lower leverage means you need to put up more money, less breathing room for trades, lower potential. They are limiting your upside potential and the downside stays the same, a blown account is a blow account.
Think of leverage as a weapon, a person wielding a butchers knife can probably destroy a person wielding a steak knife, but both knifes can prove fatal. They want to make sure your holding the butter knife then tell you to butcher a cow with it. 30:1 leverage is still workable and can still be profitable, but not as profitable as 500:1 accounts. This is why they are allowing professionals to use high leverage, this gives them another edge over successful retail traders who will still be trying to butcher a cow with a butter knife, while they are slaying limbs off the cow with machetes.
It's a way to hamstring you and keep you away rather than trying to "protect" you. The real danger is not leverage, they are barking up the wrong tree, how convenient to be barking up the very tree most retail traders don't fully understand ( leverage) , pass legislation to make trading conditions harder and at the same time push the narrative that trading is dangerous by making it even harder. A full circle strategy to make your trading conditions worse, so you don't succeed.
Listen carefully especially if you trade with any of the brokers that have provided their submissions to ASIC. Brokers want to seem like they are on your side and so far some of the submissions ( i haven't read them all ) have brokers willing to drop their leverage down to 30:1 because they know by dropping the leverage down it will start margin calling out their clients at a much faster rate, causing more blown up accounts / abandoned accounts with residual margin called funds, but they also know that if they make trading environments too hard less people will trade or even worse move their funds elsewhere offshore to unregulated brokers that offer higher leverage.
Right now it's all just a proposal, but as governments expand and continue to gain more control over it's citizens, it's just a matter of time till it's law, it's up to you to be vocal about it, let your broker know that if they drop their leverage, you're out, force them to fight for you.
If you have any more information related to this, or have anything to add, post below. I'm not an expert at this technical law talk, i know that i do well with 500:1 leverage and turn profits with it, it would be harder for me to do on a lower leverage, this is the reason for my post.
All related documents HERE
CP-322 ( Consultation paper 322 ) & Submissions from brokers and others.
https://asic.gov.au/regulatory-resources/find-a-document/consultation-papers/cp-322-product-intervention-otc-binary-options-and-cfds/
submitted by southpaw_destroyer to Forex [link] [comments]

Backtesting advise? Kinda stuck

Backtesting advise? Kinda stuck
Hello traders. I am kinda new with forex. Still studying baby pips and have watched some YT. I tried backtesting GBPUSD with a plan I come up with which I though not really that promising because of some flaw in it. I am backtesting with 200 USD just to make sure that the system works, and when I start with a live account I can re-create the plan with 200 USD and start compounding.

This is my plan for now:
  • 1 hr chart
  • Aroon Up/down
  • ATR 14, for SL and lot size
  • 2% risk per trade
  • 2 trade (1 with 1:1 RR, 1 w/o TP but close when Aroon crossed)
  • Let the trade (1:1 RR) run until it hits SL or TP
  • If the trade (1:1 RR) hit TP, the trade w/o tp should close on the next Aroon cross
Long
  • Aroon up reached max
  • Charts are above 50 ema
  • 50 ema is above 200 ema
Short
  • Aroon down reached max
  • Charts are below 50 ema
  • 50 ema is below 200 ema

The Results are:
  • No. of Trade : 300
  • Win Trade : 171
  • Lose Trade : 129
  • Winrate : 57%
  • Duration : 12 months
  • Total profit : 478.045%
  • Monthly profit : 39.837%
  • Highest Streak
  • Win : 11
  • Lose : 9

Progress
  • 14-Jan-19 : 200 USD
  • 7-Jan-20 : 1,156.09 USD

https://preview.redd.it/bzz7k1c92w451.png?width=621&format=png&auto=webp&s=26d52b8069135de85f6d17aa6a45080ee5153efd
From backtesting, I found:
  • Risk management need more evaluation, seems dangerous
  • need better exit indicator
  • Need trailing SL to lock profits
  • If the distance between both EMA is small, it tends to lose
  • If some of the previous bars (candlestick) are small, it tends to lose
  • need to consider the spreads
  • when balance reached 1000 USD, it is harder to grow, bigger losses
  • Lot sizes also killing the account
  • need to cut unnecessary losses, filter "flat" charts
  • need forward testing
Any advice on how to filter out the “flat charts” early? Most of the time these charts are the culprit to my losses. Or any other advice that I may need to know? Thank you
submitted by fadilke2 to Forex [link] [comments]

forex factory

In addition, in Forex, with a little bit of money, you are able to control bigger market positions using the leverage or margin trading. Effect of 1:100 is common in the Fore marketplace. It permits you to control numbers 100 times bigger than your capital, whilst leverage of 1:1000 and 1:500 are available with a few businesses that are offshore. The Forex market can be traded anyplace and everywhere. As long as you have access to web and a pc, you have the ability to trade the Forex market. An important issue to consider before leaping to trading currencies is it is worth practicing with"paper money", or"fake money", online demo account. Most foreign exchange agents have demo accounts where you are able to download their trading system and training in real-time with real market information but with"virtual currency". While profitable demonstration trading cannot guarantee your success with real money. best forex brokers

There are numerous advantages of the Forex market over several kinds of financial trading. There is 1 type that springs to mind, when speaking about different investments that are accessible to everyone. Even the Forex or foreign exchange market has many advantages over other types of trading. Because it is an OTC (over-the-counter) market, the Forex market is open 24 hours daily, unlike the regular stock or commodity markets. Most investments require a substantial quantity of money until you're able to make the most of this investment opportunity. Everyone can enter the marketplace with just as little as 1 to trade a"micro account", which enables you to open positions of 1,000 units. One lot of 1,000 units of currency is equivalent to 1 contract from account that is micro. Each"pip" or"tick" (lowest currency rate movement down or up ) is worth $0.10 profit or decrease, depending on wheather you are going with the Marketplace or against it Forex is among the most liquid markets. best forex brokers in uk
When trading currencies on the spot Forex market you've got complete control of your capital, which means that you can purchase and sell your positions anytime throughout market stage. This is a definite benefit because, if you will need to utilize your account cash, it may be obtained without additional commission or waiting intervals. Many different sorts of investments need holding up your money . Forex dealers may be profitable in bullish or bearish market conditions. Stock market traders want stock prices to grow to be able to take a profit, since short-selling is an issue to limits in stock trades. Forex dealers may produce a profit . Forex Currency trading is considered risky but with a trading platform that was fantastic to very decent money management skills, and a certain level of self-discipline, the risks of Forex trading can be lessened. brokers reviews
submitted by elzajohn265 to u/elzajohn265 [link] [comments]

How do you hedge your overnight naked positions?

This question is only for Swing traders and Positional traders so please refrain from answering if you are responding from a day trader point of view.
A wise trader will always hedge his trades to protect himself from unforeseen circumstances like a Black Swan.
Let's say I was short GBPUSD on 5th June at 1.2670 and I think due to a major news breaking out over the weekend, my short position will sky rocket and open at 500 or 1000 pips above my entry price not even triggering my Stop. How do I protect my self in such a scenario or how do swing/positional traders buy insurance? Please don't say buy options on CME. Any alternative apart from CME like doing something in Spot fx it self? Would love to read answers from seasoned forex traders who are profitable and are already doing this.
submitted by CosmoCrush to Forex [link] [comments]

Forex Trading - Getting Started

Forex Trading: a Beginner's Guide
The forex market is the world's largest international currency trading market operating non-stop during the working week. Most forex trading is done by professionals such as bankers. Generally forex trading is done through a forex broker - but there is nothing to stop anyone trading currencies. Forex currency trading allows buyers and sellers to buy the currency they need for their business and sellers who have earned currency to exchange what they have for a more convenient currency. The world's largest banks dominate forex and according to a survey in The Wall Street Journal Europe, the ten most active traders who are engaged in forex trading account for almost 73% of trading volume.
However, a sizeable proportion of the remainder of forex trading is speculative with traders building up an investment which they wish to liquidate at some stage for profit. While a currency may increase or decrease in value relative to a wide range of currencies, all forex trading transactions are based upon currency pairs. So, although the Euro may be 'strong' against a basket of currencies, traders will be trading in just one currency pair and may simply concern themselves with the Euro/US Dollar ( EUUSD) ratio. Changes in relative values of currencies may be gradual or triggered by specific events such as are unfolding at the time of writing this - the toxic debt crisis.
Because the markets for currencies are global, the volumes traded every day are vast. For the large corporate investors, the great benefits of trading on Forex are:

From the point of view of the smaller trader there's lots of benefits too, such as:

How the forex Market Works
As forex is all about foreign exchange, all transactions are made up from a currency pair - say, for instance, the Euro and the US Dollar. The basic tool for trading forex is the exchange rate which is expressed as a ratio between the values of the two currencies such as EUUSD = 1.4086. This value, which is referred to as the 'forex rate' means that, at that particular time, one Euro would be worth 1.4086 US Dollars. This ratio is always expressed to 4 decimal places which means that you could see a forex rate of EUUSD = 1.4086 or EUUSD = 1.4087 but never EUUSD = 1.40865. The rightmost digit of this ratio is referred to as a 'pip'. So, a change from EUUSD = 1.4086 to EUUSD = 1.4088 would be referred to as a change of 2 pips. One pip, therefore is the smallest unit of trade.
With the forex rate at EUUSD = 1.4086, an investor purchasing 1000 Euros using dollars would pay $1,408.60. If the forex rate then changed to EUUSD = 1.5020, the investor could sell their 1000 Euros for $1,502.00 and bank the $93.40 as profit. If this doesn't seem to be large amount to you, you have to put the sum into context. With a rising or falling market, the forex rate does not simply change in a uniform way but oscillates and profits can be taken many times per day as a rate oscillates around a trend.
When you're expecting the value EUUSD to fall, you might trade the other way by selling Euros for dollars and buying then back when the forex rate has changed to your advantage.
Is forex Risky?
When you trade on forex as in any form of currency trading, you're in the business of currency speculation and it is just that - speculation. This means that there is some risk involved in forex currency trading as in any business but you might and should, take steps to minimise this. You can always set a limit to the downside of any trade, that means to define the maximum loss that you are prepared to accept if the market goes against you - and it will on occasions.
The best insurance against losing your shirt on the forex market is to set out to understand what you're doing totally. Search the internet for a good forex trading tutorial and study it in detail- a bit of good forex education can go a long way!. When there's bits you don't understand, look for a good forex trading forum and ask lots and lots of questions. Many of the people who habitually answer your queries on this will have a good forex trading blog and this will probably not only give you answers to your questions but also provide lots of links to good sites. Be vigilant, however, watch out for forex trading scams. Don't be too quick to part with your money and investigate anything very well before you shell out any hard-earned!
The forex Trading Systems
While you may be right in being cautious about any forex trading system that's advertised, there are some good ones around. Most of them either utilise forex charts and by means of these, identify forex trading signals which tell the trader when to buy or sell. These signals will be made up of a particular change in a forex rate or a trend and these will have been devised by a forex trader who has studied long-term trends in the market so as to identify valid signals when they occur. Many of the systems will use forex trading software which identifies such signals from data inputs which are gathered automatically from market information sources. Some utilise automated forex trading software which can trigger trades automatically when the signals tell it to do so. If these sound too good to be true to you, look around for online forex trading systems which will allow you undertake some dummy trading to test them out. by doing this you can get some forex trading training by giving them a spin before you put real money on the table.
How Much do you Need to Start off with?
This is a bit of a 'How long is a piece of string?' question but there are ways for to be beginner to dip a toe into the water without needing a fortune to start with. The minimum trading size for most trades on forex is usually 100,000 units of any currency and this volume is referred to as a standard "lot". However, there are many firms which offer the facility to purchase in dramatically-smaller lots than this and a bit of internet searching will soon locate these. There's many adverts quoting only a couple of hundred dollars to get going! You will often see the term acciones trading forex and this is just a general term which covers the small guy trading forex. Small-scale trading facilities such as these are often called as forex mini trading.
Where do You Start?
The single most obvious answer is of course - on the internet! Online forex trading gives you direct access to the forex market and there's lots and lots of companies out there who are in business just to deal with you online. Be vigilant, do spend the time to get some good forex trading education, again this can be provided online and set up your dummy account to trade before you attempt to go live. If you take care and take your time, there's no reason why you shouldn't be successful in forex trading so, have patience and stick at it!
submitted by Ozone21337 to WallstreetForexRobotf [link] [comments]

Started from the bottom and I finally made it! My tips for new traders starting.

A little background, 23 year old dude from Singapore with IT background (Ethical hacker), friend introduced me to Forex which he eventually quit but I didn't. I love challenges and now I plan on taking up Forex trading as a career apart from my passive income jobs.
When I first started trading, I was frustrated! I had so many unanswered questions, why do I keep getting stopped out? Why are my profits so low? Why was my trades always going opposite only once I opened. Is my broker trading against me? So I paused and walked away from the charts for a few weeks, in that break I took it upon myself to understand more about Forex before opening the charts again and here is what I learned. Mind you, I did not buy any course or Indicators! All I did was read articles on the internet, watch a ton of YouTube videos and tried almost all indicators .

Here we go, my tips. These are based on my views
  1. UNDERSTAND BANKS AND BIG FINANCIALS INSTITUTIONS MOVES THE MARKET - No retail traders will be able to move the market like how the Big Banks move the market. You need to understand how banks move smart money and dumb money.(Will explain more later in the post)
  2. STOP SEARCHING FOR THE HOLY GRAIL - No indicators is going to tell you where is the best entry or best exit. They often lag and are behind time so by the time you enter a trade, the trend has already moved a certain percentage causing you to lose precious pips that you could have gotten as profits. Instead look at the charts to search for "low risk, high probability trades" (Will explain more later in the post)
  3. LOOK OUT FOR NEWS (fundamentals) - Big impact news move the markets with big moves, don't get stopped out because you entered at the wrong time without knowing that there is a high impact news in a few minutes/hours. It might hurt your account badly even through you have a stop-loss. Understand the nature of the news and how it will impact the currency.
  4. DO NOT CHASE PROFITS - Chasing profits will be the number one reason you blow your account because no amount of money will satisfy you, you will always want more. Trust me, I've been there and done that . Instead start looking at percentage earned and loss, because in Forex you need money to make money. Lets say you have a target of 5% a month, with a $1000 account that is only $50 and doesn't seem significant but do that with a $100,000 account and you will get $5000 every month. I think you will get it by now. You can't just open a $1000 account and expect to be a millionaire in 1 month. Greed will take over you and you will blow every account you open.
  5. DO NOT OVER LEVERAGE YOU ACCOUNT - By over leveraging you will be able to open larger lot sizes and you will feel good that you can use less money to earn more profit! Then you will start trading, say you profited your first trade and you feel good about yourself. Profited your second trade and feel even better. So you go bigger in the third trade, and guess what? You lost this trade. And this one loss is enough to wipe out your whole $1000 account.
  6. MORE TRADES DOES NOT GIVE YOU MORE PROFITS - As a trader you should understand not every trade will turn out positive, there will always be negative trades. And at times you can have more negative trade than positive but still end up with profits at the end of the week? This is where quality over quantity trades comes in play. Lets say for example you had 4 losing trades and 2 winning trades, your losing trades are 2% each and your winning trades are 8% each, add them up and you will still have 8% profit. This is also a very important part called risk management. YOU MUST UNDERSTAND RISK MANAGEMENT ELSE YOU WILL ALWAYS FAIL IN FOREX.
  7. NEVER CHASE THE MARKET - Markets move 24/7 from Monday 5 AM to Saturday 5 AM (Singapore time, GMT+8). There will be plenty of opportunity to enter the market. You don't always need to have an open position during this time to feel like a trader. Smart traders look for the best opportunity to enter the market at certain levels. Missed an opportunity, don't worry! There will always be another opportunity, trust me! By chasing the market and always trying to open a position, it will only cause you to blow out your account faster.
  8. PATIENCE PATIENCE PATIENCE - I can't place more emphasis on this point. Once you have analysed the market and placed your trade, be patient and let the market work for you. By you sitting at the screen 24/7, the trade is not going to go by your way magically. Remember Bulls will Profit, Bears will profit, only Pigs will get slaughtered! Don't let greed eat you alive.

Now lets talk about the "low risk, high probability" trades and how I trade. Trading is easy, if you take some time to understand it.

How I trade? That's a simple question. I use supply and demand together with fundamentals. I keep my charts clean off indicators. I know I know as soon as I say supply and demand, some of you are going to be like supply and demand doesn't exist in the currency market. But I hope you understand this are my views.
Supply and Demand
Supply and demand levels are zones that tend to be tested again and again till its broken creating another level for supply and demand. You are basically trading against the trend and I know people will be scared and think I'm dumb for saying. But once I learned this theory and started practicing it, I kicked myself in the bum for being so dumb all this while. This zones are also known for when banks throw large amount of money into the market. Bank traders do not have their screen cluttered with tons of indicators like retail trades who is just in search for the holy grail. They practice supply and demand. Let me put it in a easier context, It is basically buying a currency at wholesale and selling it at a retail price. People always practice this everyday in life like buying more of a certain item just because it is on discount at a supermarket but I don't understand why they neglect it when it comes to Forex. It is no different here in the markets. I am not going to say no more, as I want you to google more about it and understand it yourself, that is the best way you will learn better. Watch YouTube videos, read articles, see how bankers trade, understand why they place the trade.
Also understand that there is no supply and demand in lower time frame like M1 or M5, its just noise. For myself, I use H1/H4/D1.
I make 100-200 pips per week and that is enough for me currently, Remember don't be greedy.
However when there is news events, supply and demand may be ignored due to the nature of how fundamentals affect the market differently. Understand the difference and with that I have came to the end.
Remember to treat yourself once in awhile when you do good each month, You will enjoy trading better. Let me tell you the best part about trading, is that you can work from anywhere in the world, be your own boss and never be pressured by anyone.
If you have made it this far, I thank you for taking your time to read this thread. This may be your first step to success.

HAVE A GREAT WEEKEND AND HAPPY TRADING

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