How to Get a Proprietary Trading Job — A Complete Guide

Here's some trading advice from a fellow trader

I currently manage around half a million dollars and have been trading for 6+ years with 3 years of consistent profitability. Paid for my trading lessons the hard way by losing a lot of money at first. Here's some advice that might help you.
1) Treat trading like a business. I know you probably heard this 100 times before but I feel like I should emphasize this point. Majority of traders overestimate their ability to make money and underestimate their risk exposure.
2) Think long term. The more complex your trading system is, the less freedom it has in terms of flexibility because of too many variables in your analysis. So, keep your trading system simple.
3) Do not rationalize or predict the market. Do not look for comfort in your strategy. In fact, do the reverse. Find comfort in the thought that markets are chaotic and there's always a good chance of you losing a lot of money. This should keep you up on your toes and controls your greed during a profitable streak (You are not a money printing machine, trust me. )
4) Every trade you open should be assumed as a loss. This is very important in terms of having a healthy mindset towards managing risk. I never open a position based on how much money I can make. I do it based on how much I can afford to lose in this particular trade.
5) Biggest mistake I have observed while working with other traders is not doing their homework. If you don't plan your trades before the day even began, then you will develop a mindset of chasing the market which will lead to your downfall. Which brings me to my next point
6) Maintain three things - a) your daily trading notes that you read before you begin trading b) market observation notes which includes particular strategies and observations in specific markets and c) a full fledged trading journal where you record everything you traded. Always remember that majority of your trading work is done when you're not trading.
7) Journaling is the most important and also most neglected part of trading and most traders, including some very good traders do it in a wrong way. How do I know that?
Let me ask you something : Tell me about what kind of trading setups were the most and least profitable in the last 100 trades. Explain them to me in detail including your analysis and opinion on what you think might have happened.
If you can answer this in detail and with specific examples from your last 100 trades then I know you have a good journaling habit. If you cannot , then it's time to improve on your record keeping. Remember that your journals are the only way you can guarantee that you will grow as a trader.
8) Remember this no matter what - Not having a position in the market is itself a position if you know what you are doing. There's no need for you to always trade all day everyday and try to make money. In fact, I can guarantee you that markets will not always behave according to your trading system and during those times trying to "find a needle in a haystack " type of behavior is reckless and will take an emotional toll on your mind. Just sit on the sidelines if the market isn't moving according to your system.
9) There's no thing as overbought or oversold scenarios especially in forex. Heaving a bearish bias because the market moved up by a lot is just ridiculous and most likely guarantee that you miss out on bullish scenarios. If you start developing a bearish bias after a huge bullish move then you better have a damn good reason for it instead of just saying " It moved up by a lot so I'm expecting a reversal".
10) This one is a personal opinion. Always remember to take breaks and relax during the weekends. Managing stress while maintaining performance is a huge part of the job and I don't want you to burn out after a few months of serious trading everyday. Maintain a decent social life outside of trading to keep your sanity intact. Get some hobbies. Your health and well being is very important to your long term performance as a trader so don't neglect it.
submitted by mechz21 to Forex [link] [comments]

Slack Group For Learning Crypto Technical Analysis

Hi, we have a group of 10 people in our Slack. We are looking to expand this number and hopefully you will be a good fit :) . We are searching for people who have some experience with technical analysis based trading or are at least experienced with paper trading. This could either be in Cryptocurrencies which is the main focus of the group. Or could be in other markets like Forex or Stocks.
We have a variety of skill levels in the group from beginners through to profitable, we all want to improve quickly. Ideally you would have the same aspirations. One of the main goals of this group is to help each other to become consistently profitable traders who can trade as their full time job.
Everyone in the group trades separately and has their own accounts. We don't want to sell you anything, we are just building a community that aims to help each other succeed.
Some of the things we do in the slack are:

If you are interested in finding out more about the group or want to join, either comment below or Pm me with the below template.
Expression of interest template:
Name:
Country:
Time Zone:
How much experience you have in trading:
What you trade:
Additional comments:
---
Example expression of interest:
Name: Ben.
Country: Australia.
Time Zone: AEDT (GMT+11).
How much experience you have in trading: 6 Months.
What you trade: Cryptocurrency spot and futures. Mostly BTC, ETH, ADA, LTC, ATOM, XTZ, ETC, LINK, THETA.
Additional comments: I have been trading as a pair with 1 other person for the last 6 months. We have been meeting 5 days a week for those 5 months. Working together has been really beneficial for us. The slack group has been around for nearly 2 months now and has made a positive difference to my trading. It took the benefits I was getting from trading with 1 other person and multiplied them.
If you have any other questions ask below :)
submitted by Bensetera to ethtrader [link] [comments]

Am I being a brat?

Ive (31f) been with my bf (32m) for 4 years. Overall I think it is a pretty healthy relationship. We both have the same background (Was with ex for 10 years with 2 kids) He treats me well, and respectable. He makes sure that every birthday is special for me. (3-4 day celebration). He texts me Good morning/ Good night every single day. He always sends me a gift on the holidays, that sort of stuff. He co-signed my apartment for me. He’s generally always there if I have a problem, he helps me solve it. I have no doubt that he loves and cares for me and even has rescued me financially a few times before (I’ve always paid him back and I buy him things as well). He also taught me how to produce my own extra stream of income. I don’t depend on him financially but he easily makes 3-4x more than I do.
He works from home. He’s a forex tradesports better which requires a lot of research and generally has always made him unavailable throughout the day/week. Before covid we would get together every other weekend on Saturday to Sunday when we were both free from the kids. Although this has always been our norm and I’ve always had a problem with it but I never thought he was lying about anything and I’m an understanding person so I didn’t want to stress him out. The plan we always talk about is that he’s doing all of this to buy us a house then we’ll get married and move in together. He unequivocally believes it will all go very smoothly and I just need to be patient until it happens.
Here Is where it gets tricky ... I always wanted some more normalcy like stay some nights at each other’s house/ talking on the phone at night, building a relationship etc , but we’ve never really had that. We’ve been together 3 years. I’ve never met his mothefamily/kids or anyone from his life besides 1 mutual friend. I’ve never been to his house, he’s never openly shared his address but never necessarily hid it either. He says he feels weird about having me at a place he used to share with another woman (his kids mother) .. His excuse is about meeting his family is that it’s not a big deal for him to bring someone home to his family because they aren’t super close and their opinion is not a huge factor, which I can understand because I’m not super close with my family either. But his mom has been living with him since the covid. He has also had his kids full time (1 or 2 days with their mom a month) due to covid because he has the safer living/school environment for them, so needless to say since covid started, we’ve seen each other maybe 1 time monthly. His excuse now is that he doesn’t want to danger his mom and kids which I understand.
His stance is that he is dealing with the cards he was dealt (he has to do home schooling with the kids daily , he has to do his research, he has about 4 business partners who depend on him for forex/betting info, he literally has no time and the time he does have he spends it with me, a few hours a month)
My stance is that when we truly want something, we make it happen. I’ve expressed this multiple times but he said it isn’t that easy. & He says that he doesn’t want to force things and would rather everything happens organically, which I too understand .
I guess my problem is that I used to be excited about a life with him but overtime I’ve gotten so used to how our relationship is that the time apart doesn’t bother me anymore. I don’t care if we talk on the phone or not. He is easily one of the most attractive people I’ve ever seen, but the not seeing each other doesn’t bother me anymore. Ive never been crazy about sex but that isn’t exciting either. I do love him but Essentially I don’t get excited about us anymore. & I feel like a bad person for it. I’m worried that I’m making a mistake being immature by thinking that way. And I should focus on staying together because we already both talked about it being that way. Is this feeling of being out of love temporary? I have no doubt that he’s a good person, I just don’t if I’m setting my standards too low or if I’m just being spoiled and immature.
I don’t know if I’m being a brat about it all or if my feelings are legit.
I would love a fresh perspective, I’m very private about my life so I’ve never expressed this out loud before.
Edit: Some things I left out.
No one was ever married.
The side piece thing isn’t logical to me because every time we’ve been away for more than 2 days , his ex sends me a message on fb trying to reach him ‘about where are the kids if he’s with me’
No doubt that his ex is not over the relationship (5 years later) and she keeps the kids with him because she knows it’ll tie his time up. Since he doesn’t work a regular job and is the sole financial provider he can’t say no. She tells him she works 6- 7 days a week at a hospital (guilt tripping him that she has to take care of herself now) so she has no time plus covid dangers, and he has to do it. If he says no, he’s afraid she’s going to move across country with the kids, So he does it.
submitted by dlotaury88 to relationship_advice [link] [comments]

Looking For People To Join Our Crypto Technical Analysis Slack Group.

Hi, we have a group of 10 people in our Slack. We are looking to expand this number and hopefully you will be a good fit :) . We are searching for people who have some experience with technical analysis based trading or are at least experienced with paper trading. This could either be in Cryptocurrencies which is the main focus of the group. Or could be in other markets like Forex or Stocks.
We have a variety of skill levels in the group from beginners through to profitable, we all want to improve quickly. Ideally you would have the same aspirations. One of the main goals of this group is to help each other to become consistently profitable traders who can trade as their full time job.
Everyone in the group trades separately and has their own accounts. We don't want to sell you anything, we are just building a community that aims to help each other succeed.
Some of the things we do in the slack are:
If you are interested in finding out more about the group or want to join, either comment below or Pm me with the below template.
Expression of interest template:
Name:
Country:
Time Zone:
How much experience you have in trading:
What you trade:
Additional comments:
---
Example expression of interest:
Name: Ben.
Country: Australia.
Time Zone: AEDT (GMT+11).
How much experience you have in trading: 6 Months.
What you trade: Cryptocurrency spot and futures. Mostly BTC, ETH, ADA, LTC, ATOM, XTZ, ETC, LINK, THETA.
Additional comments: I have been trading as a pair with 1 other person for the last 6 months. We have been meeting 5 days a week for those 5 months. Working together has been really beneficial for us. The slack group has been around for nearly 2 months now and has made a positive difference to my trading. It took the benefits I was getting from trading with 1 other person and multiplied them.
If you have any other questions ask below :)
submitted by Bensetera to CryptoMarkets [link] [comments]

Futures Trading

Hi, we have a group of 12 people in our Slack. We are looking to expand this number and hopefully you will be a good fit :) . We are searching for people who have some experience with technical analysis based trading or are at least experienced with paper trading. This could either be in Cryptocurrencies which is the main focus of the group. Or could be in other markets like Forex or Stocks.
We have a variety of skill levels in the group from beginners through to profitable, we all want to improve quickly. Ideally you would have the same aspirations. One of the main goals of this group is to help each other to become consistently profitable traders who can trade as their full time job.
Everyone in the group trades separately and has their own accounts. We don't want to sell you anything, we are just building a community that aims to help each other succeed.
Some of the things we do in the slack are:
If you are interested in finding out more about the group or want to join, either comment below or Pm me with the below template.
Expression of interest template:
Name:
Country:
Time Zone:
How much experience you have in trading:
What you trade:
Additional comments:
---
Example expression of interest:
Name: Ben.
Country: Australia.
Time Zone: AEDT (GMT+11).
How much experience you have in trading: 6 Months.
What you trade: Cryptocurrency spot and futures. Mostly BTC, ETH, ADA, LTC, ATOM, XTZ, ETC, LINK, THETA.
Additional comments: I have been trading as a pair with 1 other person for the last 6 months. We have been meeting 5 days a week for those 5 months. Working together has been really beneficial for us. The slack group has been around for nearly 2 months now and has made a positive difference to my trading. It took the benefits I was getting from trading with 1 other person and multiplied them.
If you have any other questions ask below :)
submitted by Bensetera to FuturesTrading [link] [comments]

Some trading wisdom, tools and information I picked up along the way that helped me be a better trader. Maybe it can help you too.

Its a bit lengthy and I tried to condense it as much as I can. So take everything at a high level as each subject is has a lot more depth but fundamentally if you distill it down its just taking simple things and applying your experience using them to add nuance and better deploy them.
There are exceptions to everything that you will learn with experience or have already learned. If you know something extra or something to add to it to implement it better or more accurately. Then great! However, my intention of this post is just a high level overview. Trading can be far too nuanced to go into in this post and would take forever to type up every exception (not to mention the traders individual personality). If you take the general information as a starting point, hopefully you will learn the edge cases long the way and learn how to use the more effectively if you end up using them. I apologize in advice for any errors or typos.
Introduction After reflecting on my fun (cough) trading journey that was more akin to rolling around on broken glass and wondering if brown glass will help me predict market direction better than green glass. Buying a $100 indicator at 2 am when I was acting a fool, looking at it and going at and going "This is a piece of lagging crap, I miss out on a large part of the fundamental move and never using it for even one trade". All while struggling with massive over trading and bad habits because I would get bored watching a single well placed trade on fold for the day. Also, I wanted to get rich quick.
On top all of that I had a terminal Stage 4 case of FOMO on every time the price would move up and then down then back up. Just think about all those extra pips I could have trading both directions as it moves across the chart! I can just sell right when it goes down, then buy right before it goes up again. Its so easy right? Well, turns out it was not as easy as I thought and I lost a fair chunk of change and hit my head against the wall a lot until it clicked. Which is how I came up with a mixed bag of things that I now call "Trade the Trade" which helped support how I wanted to trade so I can still trade intra day price action like a rabid money without throwing away all my bananas.
Why Make This Post? - Core Topic of Discussion I wish to share a concept I came up with that helped me become a reliable trader. Support the weakness of how I like to trade. Also, explaining what I do helps reinforce my understanding of the information I share as I have to put words to it and not just use internalized processes. I came up with a method that helped me get my head straight when trading intra day.
I call it "Trade the Trade" as I am making mini trades inside of a trade setup I make from analysis on a higher timeframe that would take multiple days to unfold or longer. I will share information, principles, techniques I used and learned from others I talked to on the internet (mixed bag of folks from armatures to professionals, and random internet people) that helped me form a trading style that worked for me. Even people who are not good at trading can say something that might make it click in your head so I would absorbed all the information I could get.I will share the details of how I approach the methodology and the tools in my trading belt that I picked up by filtering through many tools, indicators strategies and witchcraft. Hopefully you read something that ends up helping you be a better trader. I learned a lot from people who make community posts so I wanted to give back now that I got my ducks in a row.
General Trading Advice If your struggling finding your own trading style, fixing weakness's in it, getting started, being reliably profitable or have no framework to build yourself higher with, hopefully you can use the below advice to help provide some direction or clarity to moving forward to be a better trader.
  1. KEEP IT SIMPLE. Do not throw a million things on your chart from the get go or over analyzing what the market is doing while trying to learn the basics. Tons of stuff on your chart can actually slow your learning by distracting your focus on all your bells and whistles and not the price action.
  2. PRICE ACTION. Learn how to read price action. Not just the common formations, but larger groups of bars that form the market structure. Those formations carry more weight the higher the time frame they form on. If struggle to understand what is going on or what your looking at, move to a higher time frame.
  3. INDICATORS. If you do use them you should try to understand how every indicator you use calculates its values. Many indicators are lagging indicators, understanding how it calculates the values can help you learn how to identify the market structure before the indicator would trigger a signal . This will help you understand why the signal is a lagged signal. If you understand that you can easily learn to look at the price action right before the signal and learn to watch for that price action on top of it almost trigging a signal so you can get in at a better position and assume less downside risk. I recommend using no more than 1-2 indicators for simplicity, but your free to use as many as you think you think you need or works for your strategy/trading style.
  4. PSYCOLOGY. First, FOMO is real, don't feed the beast. When you trade you should always have an entry and exit. If you miss your entry do not chase it, wait for a new entry. At its core trading is gambling and your looking for an edge against the house (the other market participants). With that in mind, treat as such. Do not risk more than you can afford to lose. If you are afraid to lose it will negatively effect your trade decisions. Finally, be honest with your self and bad trading happens. No one is going to play trade cop and keep you in line, that's your job.
  5. TRADE DECISION MARKING: Before you enter any trade you should have an entry and exit area. As you learn price action you will get better entries and better exits. Use a larger zone and stop loss at the start while learning. Then you can tighten it up as you gain experience. If you do not have a area you wish to exit, or you are entering because "the markets looking like its gonna go up". Do not enter the trade. Have a reason for everything you do, if you cannot logically explain why then you probably should not be doing it.
  6. ROBOTS/ALGOS: Loved by some, hated by many who lost it all to one, and surrounded by scams on the internet. If you make your own, find a legit one that works and paid for it or lost it all on a crappy one, more power to ya. I do not use robots because I do not like having a robot in control of my money. There is too many edge cases for me to be ok with it.However, the best piece of advice about algos was that the guy had a algo/robot for each market condition (trending/ranging) and would make personalized versions of each for currency pairs as each one has its own personality and can make the same type of movement along side another currency pair but the price action can look way different or the move can be lagged or leading. So whenever he does his own analysis and he sees a trend, he turns the trend trading robot on. If the trend stops, and it starts to range he turns the range trading robot on. He uses robots to trade the market types that he is bad at trading. For example, I suck at trend trading because I just suck at sitting on my hands and letting my trade do its thing.

Trade the Trade - The Methodology

Base Principles These are the base principles I use behind "Trade the Trade". Its called that because you are technically trading inside your larger high time frame trade as it hopefully goes as you have analyzed with the trade setup. It allows you to scratch that intraday trading itch, while not being blind to the bigger market at play. It can help make sense of why the price respects, rejects or flat out ignores support/resistance/pivots.
  1. Trade Setup: Find a trade setup using high level time frames (daily, 4hr, or 1hr time frames). The trade setup will be used as a base for starting to figure out a bias for the markets direction for that day.
  2. Indicator Data: Check any indicators you use (I use Stochastic RSI and Relative Vigor Index) for any useful information on higher timeframes.
  3. Support Resistance: See if any support/resistance/pivot points are in currently being tested/resisted by the price. Also check for any that are within reach so they might become in play through out the day throughout the day (which can influence your bias at least until the price reaches it if it was already moving that direction from previous days/weeks price action).
  4. Currency Strength/Weakness: I use the TradeVision currency strength/weakness dashboard to see if the strength/weakness supports the narrative of my trade and as an early indicator when to keep a closer eye for signs of the price reversing.Without the tool, the same concept can be someone accomplished with fundamentals and checking for higher level trends and checking cross currency pairs for trends as well to indicate strength/weakness, ranging (and where it is in that range) or try to get some general bias from a higher level chart that may help you out. However, it wont help you intra day unless your monitoring the currency's index or a bunch of charts related to the currency.
  5. Watch For Trading Opportunities: Personally I make a mental short list and alerts on TradingView of currency pairs that are close to key levels and so I get a notification if it reaches there so I can check it out. I am not against trading both directions, I just try to trade my bias before the market tries to commit to a direction. Then if I get out of that trade I will scalp against the trend of the day and hold trades longer that are with it.Then when you see a opportunity assume the directional bias you made up earlier (unless the market solidly confirms with price action the direction while waiting for an entry) by trying to look for additional confirmation via indicators, price action on support/resistances etc on the low level time frame or higher level ones like hourly/4hr as the day goes on when the price reaches key areas or makes new market structures to get a good spot to enter a trade in the direction of your bias.Then enter your trade and use the market structures to determine how much of a stop you need. Once your in the trade just monitor it and watch the price action/indicators/tools you use to see if its at risk of going against you. If you really believe the market wont reach your TP and looks like its going to turn against you, then close the trade. Don't just hold on to it for principle and let it draw down on principle or the hope it does not hit your stop loss.
  6. Trade Duration Hold your trades as long or little as you want that fits your personality and trading style/trade analysis. Personally I do not hold trades past the end of the day (I do in some cases when a strong trend folds) and I do not hold trades over the weekends. My TP targets are always places I think it can reach within the day. Typically I try to be flat before I sleep and trade intra day price movements only. Just depends on the higher level outlook, I have to get in at really good prices for me to want to hold a trade and it has to be going strong. Then I will set a slightly aggressive stop on it before I leave. I do know several people that swing trade and hold trades for a long period of time. That is just not a trading style that works for me.
Enhance Your Success Rate Below is information I picked up over the years that helped me enhance my success rate with not only guessing intra day market bias (even if it has not broken into the trend for the day yet (aka pre London open when the end of Asia likes to act funny sometimes), but also with trading price action intra day.
People always say "When you enter a trade have an entry and exits. I am of the belief that most people do not have problem with the entry, its the exit. They either hold too long, or don't hold long enough. With the below tools, drawings, or instruments, hopefully you can increase your individual probability of a successful trade.
**P.S.*\* Your mileage will vary depending on your ability to correctly draw, implement and interpret the below items. They take time and practice to implement with a high degree of proficiency. If you have any questions about how to do that with anything listed, comment below and I will reply as I can. I don't want to answer the same question a million times in a pm.
Tools and Methods Used This is just a high level overview of what I use. Each one of the actions I could go way more in-depth on but I would be here for a week typing something up of I did that. So take the information as a base level understanding of how I use the method or tool. There is always nuance and edge cases that you learn from experience.
Conclusion
I use the above tools/indicators/resources/philosophy's to trade intra day price action that sometimes ends up as noise in the grand scheme of the markets movement.use that method until the price action for the day proves the bias assumption wrong. Also you can couple that with things like Stoch RSI + Relative Vigor Index to find divergences which can increase the probability of your targeted guesses.

Trade Example from Yesterday This is an example of a trade I took today and why I took it. I used the following core areas to make my trade decision.
It may seem like a lot of stuff to process on the fly while trying to figure out live price action but, for the fundamental bias for a pair should already baked in your mindset for any currency pair you trade. For the currency strength/weakness I stare at the dashboard 12-15 hours a day so I am always trying to keep a pulse on what's going or shifts so that's not really a factor when I want to enter as I would not look to enter if I felt the market was shifting against me. Then the higher timeframe analysis had already happened when I woke up, so it was a game of "Stare at the 5 min chart until the price does something interesting"
Trade Example: Today , I went long EUUSD long bias when I first looked at the chart after waking up around 9-10pm Eastern. Fortunately, the first large drop had already happened so I had a easy baseline price movement to work with. I then used tool for currency strength/weakness monitoring, Pivot Points, and bearish divergence detected using Stochastic RSI and Relative Vigor Index.
I first noticed Bearish Divergence on the 1hr time frame using the Stochastic RSI and got confirmation intra day on the 5 min time frame with the Relative Vigor Index. I ended up buying the second mini dip around midnight Eastern because it was already dancing along the pivot point that the price had been dancing along since the big drop below the pivot point and dipped below it and then shortly closed back above it. I put a stop loss below the first large dip. With a TP goal of the middle point pivot line
Then I waited for confirmation or invalidation of my trade. I ended up getting confirmation with Bearish Divergence from the second large dip so I tightened up my stop to below that smaller drip and waited for the London open. Not only was it not a lower low, I could see the divergence with the Relative Vigor Index.
It then ran into London and kept going with tons of momentum. Blew past my TP target so I let it run to see where the momentum stopped. Ended up TP'ing at the Pivot Point support/resistance above the middle pivot line.
Random Note: The Asian session has its own unique price action characteristics that happen regularly enough that you can easily trade them when they happen with high degrees of success. It takes time to learn them all and confidently trade them as its happening. If you trade Asia you should learn to recognize them as they can fake you out if you do not understand what's going on.

TL;DR At the end of the day there is no magic solution that just works. You have to find out what works for you and then what people say works for them. Test it out and see if it works for you or if you can adapt it to work for you. If it does not work or your just not interested then ignore it.
At the end of the day, you have to use your brain to make correct trading decisions. Blindly following indicators may work sometimes in certain market conditions, but trading with information you don't understand can burn you just as easily as help you. Its like playing with fire. So, get out there and grind it out. It will either click or it wont. Not everyone has the mindset or is capable of changing to be a successful trader. Trading is gambling, you do all this work to get a edge on the house. Trading without the edge or an edge you understand how to use will only leave your broker happy in the end.
submitted by marcusrider to Forex [link] [comments]

Former investment bank FX trader: News trading and second order thinking part 2/2

Former investment bank FX trader: News trading and second order thinking part 2/2
Thanks for all the upvotes and comments on the previous pieces:
From the first half of the news trading note we learned some ways to estimate what is priced in by the market. We learned that we are trading any gap in market expectations rather than the result itself. A good result when the market expected a fantastic result is disappointing! We also looked at second order thinking. After all that, I hope the reaction of prices to events is starting to make more sense to you.

Before you understand the core concepts of pricing in and second order thinking, price reactions to events can seem mystifying at times
We'll add one thought-provoking quote. Keynes (that rare economist who also managed institutional money) offered this analogy. He compared selecting investments to a beauty contest in which newspaper readers would write in with their votes and win a prize if their votes most closely matched the six most popularly selected women across all readers:
It is not a case of choosing those (faces) which, to the best of one’s judgment, are really the prettiest, nor even those which average opinions genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be.
Trading is no different. You are trying to anticipate how other traders will react to news and how that will move prices. Perhaps you disagree with their reaction. Still, if you can anticipate what it will be you would be sensible to act upon it. Don't forget: meanwhile they are also trying to anticipate what you and everyone else will do.

Part II
  • Preparing for quantitative and qualitative releases
  • Data surprise index
  • Using recent events to predict future reactions
  • Buy the rumour, sell the fact
  • The trimming position effect
  • Reversals
  • Some key FX releases

Preparing for quantitative and qualitative releases

The majority of releases are quantitative. All that means is there’s some number. Like unemployment figures or GDP.
Historic results provide interesting context. We are looking below the Australian unemployment rate which is released monthly. If you plot it out a few years back you can spot a clear trend, which got massively reversed. Knowing this trend gives you additional information when the figure is released. In the same way prices can trend so do economic data.

A great resource that's totally free to use
This makes sense: if for example things are getting steadily better in the economy you’d expect to see unemployment steadily going down.
Knowing the trend and how much noise there is in the data gives you an informational edge over lazy traders.
For example, when we see the spike above 6% on the above you’d instantly know it was crazy and a huge trading opportunity since a) the fluctuations month on month are normally tiny and b) it is a huge reversal of the long-term trend.
Would all the other AUDUSD traders know and react proportionately? If not and yet they still trade, their laziness may be an opportunity for more informed traders to make some money.
Tradingeconomics.com offers really high quality analysis. You can see all the major indicators for each country. Clicking them brings up their history as well as an explanation of what they show.
For example, here’s German Consumer Confidence.

Helpful context
There are also qualitative events. Normally these are speeches by Central Bankers.
There are whole blogs dedicated to closely reading such texts and looking for subtle changes in direction or opinion on the economy. Stuff like how often does the phrase "in a good place" come up when the Chair of the Fed speaks. It is pretty dry stuff. Yet these are leading indicators of how each member may vote to set interest rates. Ed Yardeni is the go-to guy on central banks.

Data surprise index

The other thing you might look at is something investment banks produce for their customers. A data surprise index. I am not sure if these are available in retail land - there's no reason they shouldn't be but the economic calendars online are very basic.
You’ll remember we talked about data not being good or bad of itself but good or bad relative to what was expected. These indices measure this difference.
If results are consistently better than analysts expect then you’ll see a positive number. If they are consistently worse than analysts expect a negative number. You can see they tend to swing from positive to negative.

Mean reversion at its best! Data surprise indices measure how much better or worse data came in vs forecast
There are many theories for this but in general people consider that analysts herd around the consensus. They are scared to be outliers and look ‘wrong’ or ‘stupid’ so they instead place estimates close to the pack of their peers.
When economic conditions change they may therefore be slow to update. When they are wrong consistently - say too bearish - they eventually flip the other way and become too bullish.
These charts can be interesting to give you an idea of how the recent data releases have been versus market expectations. You may try to spot the turning points in macroeconomic data that drive long term currency prices and trends.

Using recent events to predict future reactions

The market reaction function is the most important thing on an economic calendar in many ways. It means: what will happen to the price if the data is better or worse than the market expects?
That seems easy to answer but it is not.
Consider the example of consumer confidence we had earlier.
  • Many times the market will shrug and ignore it.
  • But when the economic recovery is predicated on a strong consumer it may move markets a lot.
Or consider the S&P index of US stocks (Wall Street).
  • If you get good economic data that beats analyst estimates surely it should go up? Well, sometimes that is certainly the case.
  • But good economic data might result in the US Central Bank raising interest rates. Raising interest rates will generally make the stock market go down!
So better than expected data could make the S&P go up (“the economy is great”) or down (“the Fed is more likely to raise rates”). It depends. The market can interpret the same data totally differently at different times.
One clue is to look at what happened to the price of risk assets at the last event.
For example, let’s say we looked at unemployment and it came in a lot worse than forecast last month. What happened to the S&P back then?

2% drop last time on a 'worse than expected' number ... so it it is 'better than expected' best guess is we rally 2% higher
So this tells us that - at least for our most recent event - the S&P moved 2% lower on a far worse than expected number. This gives us some guidance as to what it might do next time and the direction. Bad number = lower S&P. For a huge surprise 2% is the size of move we’d expect.
Again - this is a real limitation of online calendars. They should show next to the historic results (expected/actual) the reaction of various instruments.

Buy the rumour, sell the fact

A final example of an unpredictable reaction relates to the old rule of ‘Buy the rumour, sell the fact.’ This captures the tendency for markets to anticipate events and then reverse when they occur.

Buy the rumour, sell the fact
In short: people take profit and close their positions when what they expected to happen is confirmed.
So we have to decide which driver is most important to the market at any point in time. You obviously cannot ask every participant. The best way to do it is to look at what happened recently. Look at the price action during recent releases and you will get a feel for how much the market moves and in which direction.

Trimming or taking off positions

One thing to note is that events sometimes give smart participants information about positioning. This is because many traders take off or reduce positions ahead of big news events for risk management purposes.
Imagine we see GBPUSD rises in the hour before GDP release. That probably indicates the market is short and has taken off / flattened its positions.

The price action before an event can tell you about speculative positioning
If GDP is merely in line with expectations those same people are likely to add back their positions. They avoided a potential banana skin. This is why sometimes the market moves on an event that seemingly was bang on consensus.
But you have learned something. The speculative market is short and may prove vulnerable to a squeeze.

Two kinds of reversals

Fairly often you’ll see the market move in one direction on a release then turn around and go the other way.
These are known as reversals. Traders will often ‘fade’ a move, meaning bet against it and expect it to reverse.

Logical reversals

Sometimes this happens when the data looks good at first glance but the details don’t support it.
For example, say the headline is very bullish on German manufacturing numbers but then a minute later it becomes clear the company who releases the data has changed methodology or believes the number is driven by a one-off event. Or maybe the headline number is positive but buried in the detail there is a very negative revision to previous numbers.
Fading the initial spike is one way to trade news. Try looking at what the price action is one minute after the event and thirty minutes afterwards on historic releases.

Crazy reversals


Some reversals don't make sense
Sometimes a reversal happens for seemingly no fundamental reason. Say you get clearly positive news that is better than anyone expects. There are no caveats to the positive number. Yet the price briefly spikes up and then falls hard. What on earth?
This is a pure supply and demand thing. Even on bullish news the market cannot sustain a rally. The market is telling you it wants to sell this asset. Try not to get in its way.

Some key releases

As we have already discussed, different releases are important at different times. However, we’ll look at some consistently important ones in this final section.

Interest rates decisions

These can sometimes be unscheduled. However, normally the decisions are announced monthly. The exact process varies for each central bank. Typically there’s a headline decision e.g. maintain 0.75% rate.
You may also see “minutes” of the meeting in which the decision was reached and a vote tally e.g. 7 for maintain, 2 for lower rates. These are always top-tier data releases and have capacity to move the currency a lot.
A hawkish central bank (higher rates) will tend to move a currency higher whilst a dovish central bank (lower rates) will tend to move a currency lower.
A central banker speaking is always a big event

Non farm payrolls

These are released once per month. This is another top-tier release that will move all USD pairs as well as equities.
There are three numbers:
  • The headline number of jobs created (bigger is better)
  • The unemployment rate (smaller is better)
  • Average hourly earnings (depends)
Bear in mind these headline numbers are often off by around 75,000. If a report comes in +/- 25,000 of the forecast, that is probably a non event.
In general a positive response should move the USD higher but check recent price action.
Other countries each have their own unemployment data releases but this is the single most important release.

Surveys

There are various types of surveys: consumer confidence; house price expectations; purchasing managers index etc.
Each one basically asks a group of people if they expect to make more purchases or activity in their area of expertise to rise. There are so many we won’t go into each one here.
A really useful tool is the tradingeconomics.com economic indicators for each country. You can see all the major indicators and an explanation of each plus the historic results.

GDP

Gross Domestic Product is another big release. It is a measure of how much a country’s economy is growing.
In general the market focuses more on ‘advance’ GDP forecasts more than ‘final’ numbers, which are often released at the same time.
This is because the final figures are accurate but by the time they come around the market has already seen all the inputs. The advance figure tends to be less accurate but incorporates new information that the market may not have known before the release.
In general a strong GDP number is good for the domestic currency.

Inflation

Countries tend to release measures of inflation (increase in prices) each month. These releases are important mainly because they may influence the future decisions of the central bank, when setting the interest rate.
See the FX fundamentals section for more details.

Industrial data

Things like factory orders or or inventory levels. These can provide a leading indicator of the strength of the economy.
These numbers can be extremely volatile. This is because a one-off large order can drive the numbers well outside usual levels.
Pay careful attention to previous releases so you have a sense of how noisy each release is and what kind of moves might be expected.

Comments

Often there is really good stuff in the comments/replies. Check out 'squitstoomuch' for some excellent observations on why some news sources are noisy but early (think: Twitter, ZeroHedge). The Softbank story is a good recent example: was in ZeroHedge a day before the FT but the market moved on the FT. Also an interesting comment on mistakes, which definitely happen on breaking news, and can cause massive reversals.

submitted by getmrmarket to Forex [link] [comments]

Forex Trading Strategies Reddit: What you need to know to start Forex trading.

Forex Trading Strategies Reddit: What you need to know to start Forex trading.

FOREX Strategies

What are FOREX Strategies?
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You may have noticed that most of people confuse the terminology and refer to FOREX Strategies in the wrong way. There are methodologies, systems, strategies, and techniques. The most effective methodology is Price Language (Trend Tracking). Combined with a correct reading of mass psychology presented by the charts.
We know that in the Stock Markets there are thousands of strategies. FOREX, like the rest of the markets, presents you with the opportunity to apply similar strategies to win consistently. Taking advantage of repetitive psychological patterns.
First, the Price Language methodology has created great fortunes in FOREX, and the next fortune may be yours. But this methodology must be implemented within a framework of advanced concepts of Markets. Without forgetting the basics. And working hard day by day.
Second, a strategy is a set of parameters and techniques that together give you the advantage to act in any situation. Thus for example in war, generals have attack strategies and counterattack strategies.
FOREX strategies alike are entry strategies and exit strategies. All beginners should know these FOREX strategies for beginners. That way you will get a general idea of ​​the game and understand that trading is a war against the Market and its Specialists. Only applying FOREX strategies revealed by the same Specialists and using their own techniques,
... you can survive in this war.
Do not fall into the trap of the many "systems" and "methods" that are offered on the internet about operating in the FOREX Market. They just don't work in the long run. They are strategies based on indicators for the most part. Using rigid parameters. That if they can work and give profitability during a certain period of time, they will always reach a breaking point when the market changes its dynamics.
Instead, take advantage of your precious time and learn the Language of Price or Price Action.
The Language methodology will allow you to adapt to each new phase of the Market. If you combine this knowledge with the appropriate psychological concepts, you can live comfortably from speculation in FOREX.

Forex Trading Strategies Reddit - Basic FOREX Strategies

You have two basic FOREX strategies, one entry, and one exit. Both follow a general strategy that helps you capitalize on the collective behaviors of the Market. That is, of the total of participating speculators.
This behavior causes the formation of cycles that repeat over and over again. Driven by the basic emotions (uncertainty, greed, and panic) of the speculators involved that can be taken advantage of with the aforementioned FOREX strategies. Specialists identify these emotions in the order flow and capitalize on these events every hour, every day, and every month.
Basic FOREX Strategies - The Price Cycle
These repetitive cycles consist of 4 phases:
  1. Accumulation
  2. Upward trend
  3. Distribution
  4. Downward trend
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The two trends can be easily identified by their notorious breakdown. And the two areas of uncertainty (accumulation and distribution), due to their notorious range trajectories.
This general behavior determines the core of our FOREX strategies.
You buy when the price of a pair has broken and has come out of one of its congestion formations (accumulation or distribution). You implement one of the Forex strategies, in this case, the entry one.
The multi-time technique will help you find the point of least risk when entering your initial buy or sell order. In the same way and using the same strategy but this time to close your position, the multiple timing technique will also show you how to close your operation obtaining the highest possible profit.
The most consistent way to extract profits in the market is by trading the start of trends within a cycle . Once confirmed by their respective breaks from the areas of uncertainty. This is the mother of all FOREX strategies . And in a market that operates 24 hours, we have more frequent cycles and therefore more opportunities.

Forex Trading Strategies Reddit - Advanced Forex Strategies

There are many advanced FOREX strategies that are generally used by professional speculators working for large financial firms.
Among these firms are banks, Investment Fund managers and Hedge Fund managers. The latter is an investment modality similar to Investment Funds, with the difference that Hedge Funds use more complex investment strategies. Its operations are more oriented to aggressive speculations in the short and medium-term.
Among the most common strategies is hedging (hedging), carry trade, automated systems based on quantum mathematics. And a large number of combinations between the different option strategies.

The Carry Trade

The central idea of ​​Carry Trade is to buy a pair in which the base currency has a considerably higher interest rate than the quoted currency. To earn the difference in rates regardless of whether the price of the pair rises or falls.
Suppose we buy a $ 100,000 lot of AUDJPY, which according to the rates on the chart would turn out to be the ideal instrument in this example to use the Forex carry trade strategy.
As our capital is in US dollars we have to assume for our example, the following quotes necessary to perform the place calculations:
AUD / JPY = 80.00 USD / JPY = 85.00
What happens internally in your broker is this.
  1. By placing as collateral $ 1,000 of your $ 50,000 of capital (assumed for this example), deposited in your account, you have access to $ 100,000 virtual (this is what is known as leverage); that is, you put in $ 1,000 and your broker lends you 99,000.
  2. With those $ 100,000 virtual dollars, your broker borrows on your behalf ¥ 8,500,000 Japanese yen (85 × 100,000) at 0.1% annual interest from a Japanese bank.
  3. With those ¥ 8,500,000 Japanese yen, your broker buys A $ 106,250 Australian dollars (8,500,000 / 80) and deposits it in an Australian bank where it receives 4.5% annual interest on your behalf.
  4. One year later (and regardless of the profit or loss generated by the pair's movement), your profit will be the difference between the AUD rate and the JPY rate, that is:
Profit = (AUD rate) - (JPY rate) - (costs of the 2 currency exchanges) Profit = (4.5%) - (0.1%) - (0.1% to 1%)
The great advantage of carry trade FOREX strategies is that this percentage profit is applied to the $ 100,000 of the standard lot; the broker transfers all of the profit to you, even if you only contributed $ 1,000. On the other hand, if you carry out the inverse of this operation, this benefit of the Forex carry trade becomes a cost (swap), and you assume it completely.
Remember that FOREX carry trade strategies are recommended for pairs with considerable interest rate differences, such as the one we have just seen in our example.
These FOREX strategies should also not be used in isolation. The idea is that through technical analysis you identify when would be the ideal time to enter the market using your carry trade Forex strategy and multiply your profits considerably.

What FOREX Strategies Do Hedge Funds Use?

The FOREX strategies used by large fund managers do not constitute an advantage in terms of percentage results for them, nor do they constitute a competitive disadvantage for you.
The vast majority of them fail because of their big egos. In fact, there was a firm made up of great financial geniuses, including 2 winners of the Nobel Prize in Economics, who developed a strategy based on quantum mathematical calculations.
With an initial base capital of about 3 billion dollars, and after 3 successful years obtaining annual returns of over 40%, the firm Long-Term Capital Management, begins its fourth year with losses. To counteract these losses the geniuses decide to multiply the initial capital several times, while the losses continued.
The year closed with the bankruptcy of the fund, and with a total accumulated loss of 1 trillion dollars, due to the great leverage used. And all for not admitting that the FOREX Strategies of Long Term Capital Management were not in line with the dynamics of the Market.
There are an overwhelming number of opportunities in the stock markets to make money interpreting the Language of Price.
You don't need to use complex "advanced" strategies that have been created to handle hundreds or billions of dollars.
The reasons for using these FOREX strategies are very different from what a "retail trader" pursues with his small speculation business.
As you can see, you should not worry about wanting to integrate any of these advanced strategies into your arsenal. They are only beneficial for managing hundreds or billions of dollars, where the return parameters are very different when you handle small amounts of capital.
Do not worry about collecting hundreds of free FOREX strategies that circulate on the internet, that great accumulation of mediocre information will only serve to confuse you and waste your valuable time.
Spend that time learning Price Action,
… And you will always be one step behind the Specialists, identifying each new Market condition, and anticipating the vast majority of reversals of all prices.
Ironically, the most successful fund managers indicate that their most profitable trades are those based on the basic trend-following strategies of the Price Language. The same ones that you will learn in this Free Course.
Dedicate yourself to perfecting them and believe me you won't need anything else. As long as you have good risk management, taking into consideration the following points ...

Styles of Investments in FOREX

The Investment FOREX long term is not recommended for small investors like you and me. If we take into account the term investing literally as large investors do who buy a financial product today to sell it years later.
We both have a better niche in the short and medium-term.
You may have noticed that the big multi-year trends in the Forex Market do exist. But minor swings within a big trend are usually very wide.
These minor movements allow us to easily double and triple the annual return of the big general trend, motivating most traders to speculate in the short and medium-term.
These minor oscillations or trends that occur within the large multi-year trends owe their occurrence mainly to two reasons.
First, the FOREX Market presents 3 sessions a day each in different cities of the world with different time zones (Asia, Europe, and America). This causes more frequent trend changes than in the rest of the stock markets.
Second, the purpose for which it was created also plays a role. The modern Foreign Exchange Market, since its inception in 1972, was conceived by the global financial system as a tool for speculation. To obtain benefits in the short and medium-term (from several days to 1 year).
These two points are basically the reasons why we observe the immense speed with which the FOREX market changes trends.
For example, for those who live in America, in the early morning (Europe) the EURUSD pair may be on the rise, in the morning or afternoon (America) it may be down, and then finally at night (Asia) it may return to the rise.

Define your Own Style for your FOREX Investments

One of the first decisions you will have to make is to choose your style as a trader or investor.
There are 4 types of well-defined styles.
Most professional traders tend to have multiple styles, although they always identify with one primary style for their FOREX investments. Study the characteristics of the 4 main styles to make your investments in FOREX :
1. Long Term: recommended for anyone who is going to enter the market for the first time and who can dedicate a minimum of one hour per month to their investments in Forex. The period of an open position ranges from 1 year to 5 years.
2. Medium Term: recommended for anyone who is going to enter the market for the first time and who can dedicate a minimum of one hour per week to their investments in Forex. The period of an open position ranges from 1 month to 1 year.
3. Short Term: recommended for anyone who is going to enter the market for the first time, or who already has a certain time operating in the long and medium-term, showing constant profits, and who can dedicate a minimum of one hour per day to your investments in FOREX. The period of an open position ranges from 1 day to 1 month.
4. Intraday : recommended only for people with a fairly solid earnings record in the short term, and with a capital greater than $ 50,000. As we have noted, this option constitutes a full-time job.
People who start investing in FOREX , should start executing short-term (weeks) and medium-term (months) transactions only, and not pay attention to intraday oscillations (day trading).
If you are interested in being an intraday speculator, I recommend that you first exhaust at least a year doing operations in the short and medium-term to assimilate the correct strategies and to develop the necessary mentality to carry out this work.
The second option would be to participate in some kind of intensive training.
I remind you that self-educating is almost impossible in speculation. You are likely to accumulate a lot of knowledge by reading books and attending courses. But you will probably never learn to make money with all the incomplete "systems" circulating on the internet.

Mistakes to Avoid When Looking for Your Style

Many people who are new to FOREX investments make the mistake of combining these styles, which is a key to failure.
I recommend that if you are not getting the results you expected by adopting one of these styles, do not try to change it. The problem sure is not in the style, but in your strategies or in your psychology.
A successful investor is able to make a profit in any longer trading time than he is used to. I explain. If you are already a profitable operator in the short term, it is very likely that you will also be profitable in the medium and long term,
… As long as you can interpret the Language of Price or Price Action.
In the opposite case, the same would not happen. If you were a medium-term trader, you would need time to adjust to the intraday. The reality is that long, medium and short term traders have very similar personalities. The intraday trader is completely different.

The Myth of the Intraday in Investments in FOREX

If you are already successful in the short, medium and long term, you will notice that the sacrifice and the hours necessary in front of the computer to operate intraday is much greater. The intraday style will be useful to increase your account if it is less than USD $ 100,000 in a very short time in exchange for 8 to 12 hours a day of hard work but ...
You must first develop the necessary skills to operate the intraday.
The ideal is to combine all the styles to get more out of the Market and carry out more effective transactions and have a diversification in your investments in FOREX.
There are intraday traders that are very successful, but the reality is that there are very few in the world that make a profit year after year. If you want to become an intraday, you just have to prepare yourself properly through intensive training.
Otherwise, I recommend that you don't even think about educating yourself to adopt the intraday style. It is not necessary to go against a probability of failure greater than 99%. Unless
... your ego is greater than your common sense.
The main reason why this style of investments in FOREX is not recommended for the vast majority of us "retail investors" (the official term "retail traders"), is the high operational cost.
The real commissions in this market range between $ 2.0 and $ 2.50 for each lot of 100,000 virtual units. This means that a complete operation (opening and closing) is approximately $ 5.00, for each standard lot traded ($ 100,000 virtual).
Another fundamental reason is the advent of robotic traders (HFT = High-Frequency Trading), which tend to manipulate the market in the shorter intraday swings. Please do not confuse HFTs with automated systems that we find daily on the internet, and that can be purchased for a few hundred dollars and often for free on FOREX forums / groups.
These HFTs to which I refer, they are effective. They cost millions of dollars and have been developed by the large Wall Street financial firms to manage their investments in FOREX.
The reality of the intraday trader is that you execute orders for large lots at the same time, to profit from the smallest movements in the market. It is an activity based on reflexes. The slightest oversight or distraction can turn into a catastrophe for your FOREX investments.
I recommend that you start investing in FOREX using slow time periods such as H4 or Daily. For some reason, all Goldman Sachs intraday FOREX investments are made with algorithms.

Finally…

To choose your style as a trader and manage your investments in FOREX, first determine what your degree of experience is, analyze the points mentioned below and the rest you will discover when you execute your first operations.
The points that will affect your decision are:
  • Capital
  • Time available each day
  • Level of Experience
  • Personality
Discovering your style is a search process. For some it will be a long way to find the right time frame that matches their personality. Don't be put off by the falls. After all, those who continue the path despite the falls are the ones who reach the destination.
And I hope you are one of those who get up over and over again. The next lesson will boost your confidence when you discover the main reason that moves currencies ...

Fundamental Analysis in Forex Trading Reddit

The fundamental analysis in Forex is used mostly by long-term investors. Players as we saw in the styles of operators, start a negotiation today, to close it years later.
I always emphasize the importance that the mass media give to this type of analysis to distract the great mass of participants.
It is all part of a great mass psychological manipulation. For centuries the ignorance of the masses has been organized before the great movements begin.
The important news are the macroeconomic reports published by the Central Banks and other government agencies destined for this work. All reports are made up. 99% of them are corrected months later.
These events are tools to justify fundamental analysis and price cleaning movements. Any silly headline does the job. With this, it is possible to absorb most of the existing liquidity, before the new trend phase is projected.

Reaction!

Except in rare situations, the result of an economic report of the fundamental analysis is generally already assimilated in the graph. In most cases, there are financial institutions that already have access to this information and are organizing and carrying out their operations in advance.
The phrase buy the rumor and sell the news is a very old adage on Wall Street. And its meaning contains what we have just explained. For the investor who can interpret the Language of Price, fundamental analysis is of little importance. Well, in general, their disclosure does not indicate that you have to take any action in your open trades , as long as your entry strategy provides you with a good support cushion.
This reality of fundamental analysis causes a lot of confusion for investors who lack in-depth knowledge of the forex market.

Macroeconomic Data

The data published in these events is irrelevant. Both for speculators and for the people in general. They are false. They lack reliability.
The price can go up or down with the same result of the data. The main ones are:
- Interest Rates - GDP (gross domestic product) - CPI (inflation) - ISM (manufacturing index) - NFP (payroll) - Double Deficits (deficit = fiscal + balance of payments)
If you are initiated, I recommend you avoid operating near these events. It is only a matter of having the time pending. Use the economic calendar for Fundamental Analysis of Forex Factory.
There is a probabilistic advantage in operating these fundamental analysis events. But it takes preparation, experience, and practice. They represent a way of diversifying in the general operation of a speculator.

The Uncertainty of Fundamental Analysis

On many occasions after the disclosure of an economic report, the price movement of the currency pair that is going to be affected tends to move in the opposite direction to the logic of the report.
I show you an example of a fundamental analysis report. Imagine that the EUR / USD pair is trading at 1.2500, and the FED (US Federal Reserve) issues a statement announcing that it has just raised inter-bank interest rates from 0.25 points to 0.75 points. Very positive news for the US dollar that logically implies an appreciation of the currency and consequently an instantaneous collapse of the EUR / USD pair (up the dollar and down the euro)
However, minutes after the release of said fundamental analysis report, the pair after effectively collapsing to 1.2400, returns and returns to its levels prior to the report (1.2500). This situation is very common , but it is not so easy to identify it when it is occurring, but after the damage is done.
Traps like these devour the accounts of beginners who approach the market with little experience, with weak strategies, and especially with very little experience.
That is why I reiterate that you forget the fundamental analysis for now. Just keep in mind when operating, that there is no publication scheduled nearby. Just check the economic calendar for the day and forget about the numbers. Let the economists mess around with the data.

FOREX Market Correlation

The Forex market correlation exists between pairs with similar "base" currencies and not always under the same circumstances. The correlation in the Forex market that is most followed and that has the greatest impact on fundamental analysis is that of the US dollar (USD).
The USD is the most traded monetary unit with a volume greater than 80% with respect to the rest of the currencies. This fact determines why their correlation is the most important, the most followed, and perhaps the only one worth following in the fundamental macro analysis.
The 7 major pairs are usually in sync . These 7 pairs all include the USD and present a fundamental analysis correlation almost 75% of the time. Influencing the rest of the currency pairs.

Advantages of the FOREX Market Correlation

In the fundamental analysis the most basic FOREX correlation is the following. When the USD appreciates, the USD / CAD, USD / CHF, and USD / JPY pairs tend to go up in price. This indicates that the Canadian dollar (CAD), the Swiss franc (CHF), and the Japanese yen (JPY) are losing value against the USD.
We must bear in mind that this correlation does not occur 100% of the time. In fact, the JPY generally tends to move in the opposite direction , since in recent decades this currency has been used as a source of financing to invest in other financial instruments.
On the other side is the FOREX market correlation that generates a movement almost in unison in the other 4 major pairs EUR / USD, GBP / USD, AUD / USD, and NZD / USD. These tend to fall in price, homologous the appreciation of the USD. But not always.
In this case the fundamental analysis correlation works most of the time, between 65 and 85% of the time. Small differences are noted in the extent that each of these pairs experiences.
There is also a correlation in the secondary FOREX market, where the pairs of all currencies that do not include the USD participate, but I recommend you not to waste time on them for now. There are more important things about the Language of Price to know first.

FOREX Commodity Correlation

In this part I will explain to you in a basic way the Correlation Commodities - FOREX of the fundamental analysis.
There are three currencies that have a direct correlation with commodities. They are usually called: "COMDOLLS" which is short for "Commodities Dollars" (Commodities Dollars), since all three obey the dollar denomination. These are:
- The New Zealand Dollar (NZD) - The Australian Dollar (AUD) - The Canadian Dollar (CAD)
These three currencies make up the group of the 8 largest together with the euro, the pound, the yen, the franc and the US dollar. Together, they merge to produce the major pairs traded in the FOREX Foreign Exchange Market.
The FOREX Commodity Correlation has an affinity in most cases greater than 75%. And each of them has its different raw material of correlation. You will notice that the NZD and the AUD are two currencies that act practically in unison. Both present minimal discrepancies in their fluctuations in the short, medium and long term.
This is mainly because their economies are very similar and their economic and fiscal policies are too. Their main production items also show great similarities, despite the fact that the Australian economy is much larger than the New Zealand economy.
The raw materials that follow the movement of the AUD are mainly gold and copper. If you put the history of these three quotes during the last decade of the year 2,000 together on the same chart, you will notice a very similar upward movement between the three quotes. Pure correlation of fundamental analysis.
This strong correlation with commodities in the metals area for the AUD has provided Australia with an economic advantage enviable over the other major powers that have seen their currencies devalue sharply against the AUD. At the same time, they experience a constant decrease in the purchasing power of their citizens.
The NZD maintains a correlation with raw materials related to agriculture and livestock, mainly including milk and its derivatives. It is one of the countries that dominates the world export of these economic items, and also has important exports of metals , although in smaller quantities than Australia.
Finally, you have a correlation with raw materials in the energy area. For historical reasons the CAD, which is not the largest oil producer in the world, but an important supplier to the largest consumer that is the US, has seen its currency oscillate in line with oil prices.
To make long-term investments in the Foreign Exchange Market, it is necessary to take into consideration at least one Commodity Correlation - FOREX in your fundamental analysis.

Forex Technical Analysis Reddit

The technical analysis is the methodology that interprets the movements of the price. Specialists look for liquidity to fund their business. The repetition of the strategies used by the specialists in their work generate repetitive patterns.
If you were an analyst, you would develop the visual ability to identify such patterns on a graph. If you were a programmer you would quantify them mathematically using complex formulas.
And if you could learn to interpret the Language of Price, you would have the ability to anticipate 90% of all movements that occur on a chart. And in this business, anticipating is what will make you money.
Market prices are reflected and framed on a horizontal time axis and a vertical price axis. Prices go up or down according to the aggressiveness of the participating operators. In an efficient or balanced market these oscillations should be imperceptible.
But in reality this is not the case, since the Market works thanks to the digital printing of hundreds of billions of units of paper money systematically distributed by the Central Banks through the banking system. These resources serve as a tool to manipulate 100% of the movements that occur in the FOREX Market.
Are you looking for Technical Indicators? All technical indicators were created from the 70's. How do you think that for more than 200 years the speculators of the past accumulated great wealth?
With the Language of Price. The best timing is given by the price itself. Indicator-generated entry signals usually occur at the wrong time.
The basis of technical analysis is human psychology. Unfortunately, human beings are not perfect and are loaded with emotions that dominate their behavior in similar situations, creating repetitive and highly predictable behavior when it occurs in masses.
The study of technical analysis through indicators and subjective training, originates and shapes the collective thinking on which all the traps that specialists execute every day to maintain their business are designed. If the majority won, the Market would cease to exist.
Although you already know that the patterns are not generated by the masses , but the repetitive behavior of the Specialists in the face of the action response of the masses. It is very easy for speculaists, because they can see everyone's orders in their books.
And they also exert a great influence on the decisions of the masses through the mass media. It is what I call the war between the Egg and the Stone , if you hit me you win and if I hit you also you win.

The Deception of Modern Technical Analysis

Through the centuries thousands of people have been able to extract great benefits from the financial markets by applying the basic strategies of technical analysis and the psychology of the Price Language.
More than 200 years ago when the markets began to operate officially, fundamental analysis predominated, which was only used by large financial institutions. As this analysis tool began to become popular, these institutions began to apply the strategies of technical analysis.
In recent decades and with the massification of internet technology, technical analysis has begun to be handled by anyone who has a computer with internet access. The same financial institutions, which have been present for more than a century and as a result of this overcrowding , establish a strategy to confuse and misinform about the true strategies of technical analysis.
This has been accomplished in the following manner. Currently there are hundreds, if not thousands of technical indicators that have been developed by so-called "gurus" of technical analysis and that sell their magic indicators packed in a "system" or "method" that usually cost thousands of dollars, or simply with the publication of a book with which they generate large profits. Double benefit.
The aim is to confuse the initiates in speculation and create the collective mentality that will originate the same behaviors over and over again. About 95% of these new entrants completely lose all the capital they invest in their early stages as investors.
Leaving them with a negative experience and creating the idea and the image that financial markets are an exclusive area for geniuses with high academic levels and that only they can produce returns in the markets year after year.
The initiate, having lost all his original capital, turns to these “gurus” for help and teachings. You spend more capital on the products they offer you and the cycle repeats itself . Obviously, the vast majority do not relapse and completely forget to re-engage in the stock markets.
I hope you have not been a victim of this drama.
Now I will show you the simplicity of a FOREX technical analysis , without the need to resort to any indicator as a tool to determine an effective entry or exit strategy when planning your operations.

The Price Cycle

Previously you studied in the FOREX strategies lesson, that the typical price cycle when it is reflected in a graph, presents four very specific phases and very easy to identify if you perform a technical analysis with common sense . These are:
  • Accumulation
  • Bullish trend
  • Distribution
  • Bearish trend
Remember also that the most effective way to constantly extract profits in the markets is by taking advantage of phases 2 and 4 (the trends). Combined with a correct reading of the collective behavior of the masses of speculators interpreting the Language of Price.
You will be surprised by the simplicity with which thousands of people around the world and over the centuries have accumulated large sums of money by drawing a few simple lines and applying responsible risk management with their capital.

How to Identify Trends?

Being able to determine the trend phases within the price cycle is the essence of technical analysis since it is these two phases that provide you with the probabilistic advantage you need to operate in the markets and obtain constant returns.
In the most plain and simple language, in the world of technical analysis, there are only two types of formations: trends and ranges.
The trends, in turn, can be bullish if they go up, or bearish if they go down. The ranges, on the other hand, can be accumulation if they are at the beginning of the cycle, or distribution if they are in the high part of the cycle. As I had indicated in the topic of FOREX strategies when describing the price cycle.
This sounds more like a play on words, but I will show you the practical definition to simplify your life and then you will apply these definitions on the graph so that everything makes more sense to you.
  • Bullish trend: a succession of major highs and major lows
  • Bearish trend: a succession of minor highs and minor lows
  • Floor Range: equal highs and varied lows
  • Ceiling Range: equal minimums and varied maximums
https://preview.redd.it/vvmsshf0guv51.png?width=600&format=png&auto=webp&s=c321679a7dcc03f7184778be86379ef442fddf91
Some key points from the graph:
  • The start of this big uptrend was detected when the last high (thick green line) of the previous downtrend was broken to the upside, ending the succession of lower highs, while exiting the lateral floor formation.
  • The succession of major lows in the uptrend (thin blue lines)
  • The succession of major highs in the uptrend (thin green lines)
  • The end of the uptrend was detected when the last low (thick blue line) of the uptrend was broken to the downside, ending the succession of higher lows, while exiting the lateral ceiling formation.
A tool that will help you sharpen your technical eye and identify trends on the chart is the Currency Scanner. This application is very effective and will provide you with a much-needed boost in your operations to identify reliable trends. At first, we are not sure how reliable a trend is. You will receive great help to find opportunities with the Currency Scanner .

The Common Sense, The Less Common of Senses

The central idea of ​​technical analysis consists in determining the price situation of a market, that is, in which phase of the pattern of its cycle it is currently conjugated with the collective thinking of the masses and the possible traps that the market would have prepared to remove. the capital at stake by the public.
To carry out a precise technical analysis, you will use the support and resistance lines, which can be static (horizontal) or dynamic (projecting an angle with respect to the horizontal axis).
Your common sense prevails here.
If you show a 10-year-old a chart, they will be able to tell you if the price is going up or down. You will most likely have no idea how to draw the lines, but you will be able to establish the general trend. Simply using your common sense.
By introducing indicators and other gadgets , the simplicity and effectiveness of the technical analysis created by your common sense evaporates.
The following graph conceptually shows you all the possible situations in which you could draw these lines to carry out your technical analysis of the place. You can clearly observe a downtrend delimited by its dynamic trend line and an uptrend on the right side with its respective dynamic delimitation.
https://preview.redd.it/5iehg0r6guv51.png?width=500&format=png&auto=webp&s=84c265a5d35da7ea970792c4bf40fe20b33bd8bd

Forex Charts Analysis

I want to remind you that the formations or patterns that develop on the charts (triangles, wedges, pennants, boxes, etc.) only work to execute trades that have initially been confirmed by the static support and resistance lines and to read the collective thinking of the masses.
Chart formations work, but you must know the Language of Price to determine when the Specialists will exploit a chartist figure, or when they will allow it to run. In fact, you will learn with the Language that you can operate a chart figure in any direction.
Much of the "mentalization" that the masses receive is to believe that the figures are made to be respected. Which is an inefficient way of working. Simply because you could wait days or months for a perfect chart figure to occur in order to perform a reliable trade. When in fact there are dozens every day.

Japanese Candles

Of all the tools you have to carry out technical analysis, perhaps the best known and most popular is the Japanese technique of candles (candlesticks).
Candles are mainly used to identify reversal points on the chart without resorting to confirmation of horizontal trend lines and only using a previous bar or candle breaks.
Its correct use is subject to a multi-time analysis (multiple temporalities) and a general evaluation of the context proposed by the market in general at the time of each scenario.
Later I will show you all the important details to take into account so that you use Japanese candles in a simple and very effective way.
Do not forget ... Trading in your beginnings based on formations (chartism) and candlestick patterns conjugated with hundreds of tools and technical indicators, constitutes the perfect path to your failure. Before using any strategy or technique I recommend you focus on learning the Price Language, which includes 3 basic things:
  • The Price: structure and dynamics
  • Market sentiment: relative strength, external shocks, etc.
  • Psychology: flexible mindset and risk acceptance
After you acquire this solid foundation, I guarantee that you will be able to trade any trading system that exists, any strategy, technique or chart figure in a profitable and consistent manner.
Specialists make money every day at the expense of the collective behavior caused by the use of these strategies and techniques. With which you will only manage to lose your capital and your time by putting the cart in front of the horse.
People who do the opposite, at best become,
... Philosophers of Speculation, or indocile Robot Assistants or Expert Advisors.
To make money in any market condition, range or trend, you must use the technical analysis based on the Price Language and combine it with a correct psychological reading of the price. This knowledge can only be acquired through proper education and lots of supervised practice. Like any other career in life.
I hope you've found this guide helpful!
submitted by kayakero to makemoneyforexreddit [link] [comments]

Forex Trading in Kenya.

Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while.
FIRST OF ALL, who am I..?
I am a forex trader, in Nairobi, Kenya..i have been actively involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since.
I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass.
What the fuck is forex and forex trading.
In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend.
These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell)
Is forex trading illegal in Kenya? Is it a scam?
Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019)
Have there been scams involving forex in Kenya?
Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable.
However, by the end of this post, I hope you won’t fall for such silliness.
What next how do I make it work..?
Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that.
The second route is more practical, structured and smarter.
First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car.
Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored.
The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc
Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you.
Here are some nice YouTube channels to watch. These guys are legit..
  1. Sam sieden
  2. Cuebanks
  3. TheCoinFx
  4. The trading channel
  5. Astro
  6. Forex family
  7. Wicksdontlie
Advanced stuff
  1. ICT
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off.
How long will it take until things start making sense
Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee.
Social media, Mentality, Psychology and Books
Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed.
Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you.
Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch.
Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn.
This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts.
Brokers
You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it.
Money transfer.
All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.)
How much money can I make..?
I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make.
How much money do I need to start with..?
Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds.
Taxes..?
Talk to a lawyer or an accountant. I am neither.
Family? Friends?
Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it.
The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together.
Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job.
And now it is 5am, fuck.
This is oversimplified and leaves out many many aspects.
Happy to answer any questions.
submitted by ChaliFlaniwaNairobi to Kenya [link] [comments]

The rise of fake Gurus

The rise of fake Gurus
https://preview.redd.it/s8df6kzd0tw51.jpg?width=1200&format=pjpg&auto=webp&s=1415af6b476b3ad00d3fcb6a8769de347b2a132d
Today, we are going to discuss how the rising of fake gurus from YouTube actually hacking our brain and trapping us to gambling in the stock market by using their attractive thumbnail and live webinar. In the end, we will discuss how to avoid being trapped. Please read this article seriously because we have made it very simple for you to check who is good or bad.
We Indians feel good when someone gives us something free of cost whether that content is valid or not, legit or not we hardly verify the facts. We can accept anything & everything IF it is free of cost. Didn’t you experience it?
At first, we are going to talk about why 95% of stock market-related content on YouTube is bullshit and fake which will not give you satisfactory results what they are claiming in the thumbnail. It’s so funny that I identified there in one video thumbnail that claimed to quit your job to become a millionaire by following his strategy. Seriously, Guys?
There are millions of fancy strategies stated as no loss strategy, guaranteed monthly income strategy, 100% working strategy, intraday tricks which will never give you loss, how to earn 1 Cr in one day, Become warren buffet in 3 simple steps, how to get your money double in options trading, etc, etc
You know guys what is the most fun thing? There are millions of views on their videos. It’s clearly indicating that we are the ones viewing all those videos that resulted in getting us trapped. Isn’t it?
How is it possible that someone without any experience will come and tell us how to make millions from the stock market? Guys, think logically does that possible? Have you ever verified their article before practically implementing it in the live market by putting your hard-earned money? Why are you using even in the first place?
Believe me, no one can make you rich in the stock market. It’s only your right and quality knowledge, dedication, and focus that can change the way you see the stock market. No amount of information will provide you an edge or trading improvement until and unless you experience it by yourself practically by implementing.
For egg: whatever we share at AfterVision, we do it with full confidence because we only share a backtested system that we have achieved after 11 years of deep research & experience. Believe in the result, don’t just focus on fake and manipulated promises.
Any single mistake in the stock market can make your capital zero. You have to control and focus on your Psychological process and implementation with the combination of Disciplined because these both play an important key role in the stock market then come last our so-called strategy. The strategy has no value if you don’t have an advanced system which can give you a better risk-reward ratio and clear cut entry and exit mechanism.
Never join anybody if someone is making fake promises to give you more than a 10% return per month consistently. But, the funny thing is no one will talk about less than 30-50% of the capital return. Amazed? Don’t be the one to get trapped though!
Never be dependent on any tip provider, signal or software, etc because trust me it is a bullshit idea of selling tips and indictors which doesn’t work seriously. They don’t trade themselves because it’s easy for YouTubers to create a 5 min video explaining about anything and showing some fake screenshots to trust us easily on them. YouTube is like their Dukan(shop), the business turnover is depending on our views we give to them that why they always come up with some choosy and fake caption and thumbnail such as 100% capital double, no loss strategy, etc so that viewers will click often on their video by getting trapped.
Youtuber and live webinar guys will emotionally sell you some sort of snack oil of how you can change your life by joining their superficial level program. I am not telling you that all are bad. But, I can tell you 6 out of 10 are selling craps on the name of courses. I have got to join so many courses in the last 6 months to experience ranges from Indian to Forex guys. They are just bragging about indicator on the name of courses. That’s it. We already know indicators don’t work all the time. It’ll give you 3 times signals within 30 min. You’ll confuse about whether to buy or sell. That’s what the techniques they are claiming to work 100% of the time in any market in any situation.
Why we are different at AfterVision?
First of all, we don’t ever promise you to give 100% result because there is no perfect system in the world which can give you 100% result.
We don’t sit and trade the whole day that’s a fishy system to sit the whole day to make money. At AfterVision, Only 45-60 min is enough to make money if you are a serious trader. We focus on a one-to-one basis live session rather than providing a crowd or batch where no one can ask questions openly.
We don’t talk about any kind of indicators because believe me it is just crap, will only confuse you in the end. we believe in logical trading, if you are not getting any logic to take an entry or exit then simply we sleep that day without doing trade.
We never focus on more than 5 trades in a month because we believe in quality rather than just focusing on quantity. We provide 24*7 doubt sessions with lifetime support. Yes, anytime you can call at AfterVision to take any support.
Click here - http://blog.aftervisioneducation.com/the-rise-of-fake-gurus/
submitted by aveducatioseo to u/aveducatioseo [link] [comments]

Crypto Forex Review - Crypto-Forex.Club Detailed Review

Crypto Forex Review - Crypto-Forex.Club Detailed Review
This review gives you all you need to know about crypto-forex.club. It also answers this important question; "Is Crypto forex a Scam?"
Have you traded/invested with Crypto Forex (crypto-forex.club) and believe you have been scammed by them? The great news is that you have a chance to get your money back. Many unregulated brokers have been found to scam traders. It’s our job to make sure you can fight back and get your money refunded. By simply reading this article, you are on the right path to recovering your money.
Image by Icons8_team from Pixabay
Is crypto-forex.club a scam or legit?
Crypto Forex has been suspected as a scam. We don’t recommend trade with them and if you are trading with Crypto Forex contact them immediately and try to get your fund out. If Crypto Forex has done the following, you have probably a victim of Crypto Forex crypto scam.
Reason to suspect a scam is in action:
  • The broker froze your account
  • The broker blocked your account
  • You cannot login back into your account
  • Money has been taken out from the account
  • The broker doesn’t take your calls
  • The broker shut down his website
  • You noticed the broker took money out from your bank account without your permission
  • The broker is offering you a bonus
  • The broker is offering you to fund more money into the account after you lost a large sum
Don't give up!! You can fight back and get all your lost funds refunded. All you have to do is send an email to - [[email protected]](mailto:[email protected]).
Testimonial: How I Recovered My Money from Crypto Forex (crypto-forex.club) - By Mark
Crypto Forex is a SCAM, FRAUD, ROBBERY!DON'T BE FOOLED. LOOK AT THE PLANS, ALL FAKE! NEVER TRUST THIS WEBSITE. HE'll STEAL your MOnEY! NO DOUBT! I had a nasty experience with them, but was lucky Express Recovery Pro - [[email protected]](mailto:[email protected]) helped me get my money back.
submitted by Monique007 to todayspaper [link] [comments]

Is this guy telling the hard truth?

I always dreamt of becoming a multi millionaire in 5 to 10 years but this guy has brought an interesting point to the table:
Day Trading Market Ceiling There also a Day Trading Market Ceiling. A successful day trader (not an investor, though) will eventually get capped out, as the market simply can’t accommodate an infinitely increasing position size for a particular strategy. To make more the trader either needs to alter the strategy, or also trade something else…and this may or may not work. Change one thing and you can’t assume all else will stay the same. To attain the returns discussed in the “How Much Day Traders Make,” multiple trades are made each day. Trades are likely only lasting a couple minutes. While multiple-millions of dollars worth of stocks, futures or currencies may change hands over the course of couple hours, day traders have precise entry points. Therefore, position size is limited to the amount of liquidity (volume) available at the exact moment a trader needs to get into and out of trades. Investors, hedge funds and mutual funds can accumulate or dispose of positions over weeks, taking advantage of days or even weeks worth liquidity. Day traders don’t have that luxury. It doesn’t matter if a stock trades millions of shares a day; if there is only 100 shares available when they need to take the trade (based on the strategy) that’s all they get. That’s an extreme example, but at any given moment there isn’t infinite liquidity available–there is what there is, and that means there is a limit to how big of a position you can accumulate and dispose of when your strategy calls for it. Based on personal experience, in day trading forex I wouldn’t be comfortable taking more than 5 standard lots on a day trade. Some may take more, most traders would take way less. Taking a larger amount would mean significantly increased risk of slippage or partial fills (you end up with the whole position on losing trades, but only partial positions on some winning trades). Possible gains attained by taking a larger position are offset by these negative factors. At 10:1 or 15:1 leverage a forex day trader–using a day trading forex strategy similar to mine— may cap out at around a $50,000 to $75,000 account (including leverage, that means trading close to $1million). Beyond that, they may find little additional gains, unless they alter their strategy, take longer term trades or stagger their entries and exits at various prices. Changing a strategy to accommodate a larger position isn’t a bad thing, but it takes additional research/practice time…and is it worth it? Only each individual can answer that for them self. In the ES futures market I cap out at about 10 contracts, and that only requires a $40,000 to $75,000 account (maybe even less depending on how much you risk per trade). There is no reason to trade more in my opinion. Could you day trade more contracts? Sure, you could probably get away with 100 contracts some days/some trades…but why? It would take a long time to work up to carrying those sorts of positions, and even trading a few contracts can produce a good living. The same goes for the stock market. Even in a very liquid stock or ETF like the SPDR S&P 500 (SPY) you will hit a limit on how much you can effectively trade on a short time frame. It may be a big limit, but you do hit it. To see the minimum amount of capital you need to day trade, see How Much Do I Need to Become a Day Trader. The bottom line is that you hit a limit on the amount of capital you can utilize effectively, and beyond that your percentage returns will likely decrease. For example, it’s much easier to make 10% a month on a $20,000 account than it is to make 10% a month on $20,000,000. That means day trader tend to withdraw all proceeds over and above their “efficient capital limit.” So a $50,000 day trading forex accounts stays a $50,000 account and monthly profits are withdrawn and spent (like any other job) or allocated to something else. In other words the account doesn’t keep compounding indefinitely, the trader nor the market can withstand doing that…there are ceilings…psychological, natural (life) and structural (market).
Source: https://vantagepointtrading.com/why-day-traders-can-make-big-returns-but-arent-millionaires/

The entire article is a good read. Go read it. But in a way this shattered my dream. So tell me is this guy telling the hard truth or just bull shitting?
He also says that he has met a lot of day traders and most make between 50,000 to 200,000 per year. So aiming for that is a more "realistic goal" then making close to a million dollar per year.
submitted by geardrivetrain to Daytrading [link] [comments]

Gold and Silver rocket ride - 110k in 1 month

Gold and Silver rocket ride - 110k in 1 month
IMPORTANT: OVER 75% OF PEOPLE LOSE MONEY WITH CFD TRADING. IF YOU'RE A NOOB, DON'T EVEN THINK OF OPENING A CFD ACCOUNT. TRY MAKING CONSISTENT MONEY SWING TRADING ASX STONKS FIRST. THEN KEEP DOING THAT UNTIL YOU GET BORED AND WANT TO LOSE BIG MONEY VERY QUICKLY. ONLY THEN YOU MAY HAVE WHAT IT TAKES TO TRADE WITH LEVERAGE.
You most likely don't have my discipline and pain tolerance. Or my feel for risk/reward math. On top of this you need markets to play nice and a bit of luck.
I'm no wiz, but I know my strengths and weaknesses. I smell a good setup and prepare accordingly.
Hope you all nail your big opportunity when it shows up. If not, that's okay too. You'll keep getting chances. Be patient. Focus on small wins. Plus there's far more important things in life than being loaded.
------
How I lost 5k trading CFDs then turned it around
Back in April, I was playing with CFDs and nearly blew up my account. Started with $5k and dropped to almost zero because trading forex with leverage is a very stupid game. This is why IG gives you a demo account. But instead of using the demo account to learn how not to fuck up massively, I was using it to place giant YOLO shorts on US markets.
By being a bit less retarded on the forex trades I clawed back some losses then topped up the account with another $2.5k before starting to open small positions in gold. From 3 to 10 contracts depending on how confident I felt. Then smelling a massive opportunity, I ramped up the leverage by going with much larger positions.
Day 5
https://preview.redd.it/oqd955abwak51.png?width=1080&format=png&auto=webp&s=84aa309284c22117630899e39b8b1bfb89c670f3
Entering the silver trade
It was only after making decent profits in gold that I dared venture into silver. I wanted to enter silver around $18 but missed the boat after waiting too long for a dip. $20 was still great. Tons of upside left.
Silver is one nasty motherfucker to trade. It's a much smaller market than gold so the swings can be wild. Silver will play along nicely then suddenly fuck you really hard. If you use too much leverage you're basically waiting for your account to blow up. Stop losses will save you, but they can also kill your best trades. I didn't bother with stops for most of the ride because I'm an ASX_bets retard but also because I had ultra high conviction in the $25-27 price target.
Started with 25 contracts. I very nearly missed out on this mini pump. Some might call it luck.
Day 18
https://preview.redd.it/de8jozlexak51.png?width=1080&format=png&auto=webp&s=79d174c67a86754c7d9fd78aa594f88282c08834
Adding to my silver positions
Increased my position size once I had a profit buffer to protect against sharp drops. It's WAY easier to blow up a CFD account than it appears. When trades are going well you feel like you can keep adding leverage and make millions. But even small swings will kill you if your positions are too big. Discipline is key.
Buying 50 contracts in silver is not the same as 50 contracts in gold because silver moves are 2-4 times bigger. When gold moves 100 points, expect a 200-400 points move in silver. Having an equal mix of gold an silver contracts helped lower the overall volatility of my account.
Anything over 10 contracts in silver is big. You can lose hundreds within minutes. Buy 50 contracts, the price drops $1 and you're $5000 in the hole. I knew when to push and when to hold back. This was EXTREMELY important. I did not get greedy. I was happy to let price moves do most of the lifting.
Started the day with 3k profits. Went to bed that night with big beautiful bhags. 17k
https://preview.redd.it/qcbeoxvnxak51.png?width=1080&format=png&auto=webp&s=4228593b9d86cc5f0460f44af06c7292ea644625
Day 19
Woke up the next morning with even bigger bhags. 30k
https://preview.redd.it/9b439y5qxak51.png?width=1080&format=png&auto=webp&s=19e3ad27d7237bc88fdeb329ebcd113e11349554
Day 24
More pump. I added 50 silver contracts that day after a decent drop. Profits now up to around 41k.
Held through the big swings...
Like a proper bitch, Silver dropped another 5% soon after I added those 50 contracts and my 41k profit became 20k very suddenly. But no stop loss and I held firmly. What's a 21k drop when you've been down 35k on BBOZ before. Metals bounced back hard later that evening. Still not selling. High conviction made all the difference here.
Five days later and I was up to 50k profit.
At that point, I felt safe enough to add another 50 contracts.
https://preview.redd.it/j2at0n95zck51.png?width=1080&format=png&auto=webp&s=4a0ea2fabe6a245807fb9ee8a8d0bc4ce854ba3a
And it paid off BIG
Both gold and silver keep pumping. Profit now 86k.
Day 28
https://preview.redd.it/f3pz0an8zck51.png?width=1080&format=png&auto=webp&s=0ca765b6cad423786dee33a1366c70d324e39b8d
Why sell now?
Not selling yet. GV's silver target was $25-27 so I was confident holding through some wild swings.
GV = Gold Ventures https://twitter.com/thelastdegree
A turbo chad from Belgium who made a massive fortune trading options during 2008-2011 when silver went from $9 to $50 before crashing hard. GV is a certified wizard when it comes to timing the gold and silver cycles. Started with his wife's 32k savings and is now worth 18 million EUR or USD, I'm not sure and who cares. GV is pretty low key but commands plenty of respect from other metal traders on Twitter.
Meanwhile GV was on holiday but still shitting money.
https://preview.redd.it/ixsxwjx30dk51.png?width=1080&format=png&auto=webp&s=9fd5741634a7a5b0f913f5ea12edf05722f9fddf
GV also has a junior miner portfolio worth several millions. I believe it's true. I went deep into his Twitter history. He was buying heavily into the March crash and some of his picks like AbraPlata have since made 10x. Junior miners are like call options on metal prices with no expiry date but you still need to pick winners and enteexit at the right time.
Magical Six Figure Milestone
Not long after... BOOM! Hit 100k in profit.
When starting, I knew there was potentially 40k-50k to be made from this setup even without playing it perfectly. I would have been okay with 20k.
Day 32
https://preview.redd.it/oy8sqsgz1dk51.png?width=1080&format=png&auto=webp&s=a8c628670578b81d72b9a41bd9d2307a27a2fbf7
Start taking profits
Silver was still going strong but I felt it was time to de-risk.
So I started taking profits on both gold and silver around that time.
https://preview.redd.it/gvdqs67a2dk51.png?width=1080&format=png&auto=webp&s=64a77d3ccca86fe6e29eb43e0c2eaf096f68867c
Okay I'm out
The way silver kept pumping, I knew a big correction was imminent. By 12pm I was completely out with over 110k profit. Home and dry.
I went on with my daily work routine, a bit more relaxed and not checking charts every 5 minutes.
And then metals dumped hard.
There was money to be made on the short side but there was also a strong possibility of shorts being squeezed. So I didn't bother.
https://preview.redd.it/opoio79i2dk51.png?width=1080&format=png&auto=webp&s=80187384d37e03eec8d01814248bbe4c5a48cc4f
After the dump, I had no appetite to get back in with big positions. In hindsight I could have made tons more if I held to $29 but the ride from $24 to $29 is far more risky than $20 to $26. I'm quite okay with my 40x performance. Plus I needed to reset mentally after this rocket ride. More often than not, the best thing to do after a huge trading win is to take a break. Wisdom gained from the BBOZ days :)
Withdrew my initial capital and 90% of the profits from IG. Left around 6k on the account to keep playing.
https://preview.redd.it/1djdhz1m2dk51.jpg?width=1080&format=pjpg&auto=webp&s=c028a06d4e0cf73bfb80f8ac48dd18e333b791d4
Feels good to have extra funds to invest with but I also need to set some aside for the monster tax bill next year. You're welcome Australia, and all the JobSeekeJobKeeper leeches.
Hey everyone, check out my insane stats!
That 85% win rate though...
  • IG MARKETS - TRADE ANALYTICS - 29 JUNE TO 29 JULY
https://preview.redd.it/slkmhrlq2dk51.png?width=1272&format=png&auto=webp&s=b15b261144d3cd55c1d28530a80efd30c49f3125
Less impressive when zooming out to include the forex train wreck in April and my more recent metal trades.
  • IG MARKETS - TRADE ANALYTICS - 1 JANUARY TO 17 AUGUST
https://preview.redd.it/jam28zau2dk51.png?width=1272&format=png&auto=webp&s=99fd332c319984f1de28d1ec7e6a58df2754946d
-----
Credits to:
https://twitter.com/thelastdegree - already covered above
https://twitter.com/DaveHcontrarian - called the metals and S&P500 bull runs
https://twitter.com/AdamMancini4 - simple yet powerful charts
https://twitter.com/badcharts1 - advanced silver charts
https://twitter.com/graddhybpc - advanced gold and silver charts
https://twitter.com/Northst18363337 - another master of charts
https://twitter.com/bhagdip143 - ultimate master of monster position and making bhags
BTW fuck Facebook groups, you'll hardly learn anything there. Full of losers. Twitter is where the elite traders and big dick fund managers bounce ideas. A solid Twitter list is worth thousands if not millions in the right hands.
submitted by _HeyHeyHeyyy_ to u/_HeyHeyHeyyy_ [link] [comments]

Chance Me: CS Major

Reposting because I didn't get input last time.
Demographics: Indian. Male. From ProspeFrisco Texas. Middle/Upper class area. I would say my high school is very competitive.
Intended Major(s): Computer Science
ACT/SAT/SAT II: SAT: Have not taken a real test. I have taken three practice test all resulted 1440+. Prepping for 1500+, but consider my score to be a flat 1400 for now.
UW GPA and Rank: UW: 3.981 Rank: 12/979
Coursework:
Freshmen Year:
- Honors French 1 (Highest Level that year available to me )
- HonoGT Geometry (Highest Level that year available to me )
- Honors Computer Science 1
- Honors Biology (Highest Level that year available to me )
- AP Human (Highest Level that year available to me ) (4)
- Honors English 1 (Highest Level that year available to me )
- Outdoor Education (Required)
- Digital Art and Animation (Required)
Sophomore Year:
- Honors English 2 (Highest Level that year available to me )
- Honors French 2 (Highest Level that year available to me )
- AP Computer Science A (Highest Level that year available to me ) (5)
- AP Computer Science Principles (Highest Level that year available to me ) (4)
- AP World History (Highest Level that year available to me )
- AP Biology (Highest Level that year available to me ) (3) <-- Not sending this score
- Honors Chemistry (Highest Level that year available to me )
- Honors Algebra 2 (Highest Level that year available to me )
- Academic Level Architecture (Highest Level that year available to me )
Junior Year:
- AP English 3 (Highest Level that year available to me )
- Independent Studies in Video Games (AP Level but not AP) (Highest Level that year available to me )
- Honors UIL Math Prep
- Ap Physics 1 (Highest Level that year available to me ) (5)
- Academic Level US History
- AP Chemistry (Highest Level that year available to me ) (4)
- AP Environmental (Highest Level that year available to me ) (5)
- Honors Pre-Cal (Highest Level that year available to me )
Senior Year (will take upcoming year):
- Honors Computer Science 3 (Highest Level that year available to me )
- Honors Computer Science 2 (Highest Level that year available to me )
- AP English 4 (Highest Level that year available to me )
- AP Gov/Econ (Highest Level that year available to me )
- AP Physics C (Highest Level that year available to me )
- AP Calc BC (Highest Level that year available to me )
- AP Stats (Highest Level that year available to me )
- Still Deciding but not AP for sure.
Awards:
- Adobe Certified Associate - Visual Design using Adobe Photoshop CC2015
- Aloha Math Competition Certificate.
- UIL Math Competition Certificate.
- Multiple Student of the month award
Extracurriculars:
Essays/LORs:
Essays, I have not started.
Letter of Rec: I have three incoming from my teachers. English/CounseloComputer Science/ Math (waiting for response)
Schools:
- MIT,
- Brown University
- Caltech
- Carnegie Mellon
- Columbia University
- Cornell University
- Duke University
- Georgia Institute
- Hamilton
- Harvard University
- Johns Hopkins University
- Princeton University
- Purdue University
- Rice University
- Stanford
- UMich
- UT Austin
- UT Dallas
- Texas A&M
- UC Berkley
submitted by goyalyug000 to chanceme [link] [comments]

What are my chances?

Demographics: Indian. Male. From ProspeFrisco Texas. Middle/Upper class area. I would say my high school is very competitive.
Intended Major(s): Computer Science
ACT/SAT/SAT II: SAT: Have not taken a real test. I have taken three practice test all resulted 1440+. Prepping for 1500+, but consider my score to be a flat 1400 for now.
UW GPA and Rank: UW: 3.981 Rank: 12/979
Coursework:
Freshmen Year:
- Honors French 1 (Highest Level that year available to me )
- HonoGT Geometry (Highest Level that year available to me )
- Honors Computer Science 1
- Honors Biology (Highest Level that year available to me )
- AP Human (Highest Level that year available to me ) (4)
- Honors English 1 (Highest Level that year available to me )
- Outdoor Education (Required)
- Digital Art and Animation (Required)
Sophomore Year:
- Honors English 2 (Highest Level that year available to me )
- Honors French 2 (Highest Level that year available to me )
- AP Computer Science A (Highest Level that year available to me ) (5)
- AP Computer Science Principles (Highest Level that year available to me ) (4)
- AP World History (Highest Level that year available to me )
- AP Biology (Highest Level that year available to me ) (3) <-- Not sending this score
- Honors Chemistry (Highest Level that year available to me )
- Honors Algebra 2 (Highest Level that year available to me )
- Academic Level Architecture (Highest Level that year available to me )
Junior Year:
- AP English 3 (Highest Level that year available to me )
- Independent Studies in Video Games (AP Level but not AP) (Highest Level that year available to me )
- Honors UIL Math Prep
- Ap Physics 1 (Highest Level that year available to me ) (5)
- Academic Level US History
- AP Chemistry (Highest Level that year available to me ) (4)
- AP Environmental (Highest Level that year available to me ) (5)
- Honors Pre-Cal (Highest Level that year available to me )
Senior Year (will take upcoming year):
- Honors Computer Science 3 (Highest Level that year available to me )
- Honors Computer Science 2 (Highest Level that year available to me )
- AP English 4 (Highest Level that year available to me )
- AP Gov/Econ (Highest Level that year available to me )
- AP Physics C (Highest Level that year available to me )
- AP Calc BC (Highest Level that year available to me )
- AP Stats (Highest Level that year available to me )
- Still Deciding but not AP for sure.

Awards:
- Adobe Certified Associate - Visual Design using Adobe Photoshop CC2015
- Aloha Math Competition Certificate.
- UIL Math Competition Certificate.
- Multiple Student of the month award
Extracurriculars:
Essays/LORs:
Essays, I have not started.
Letter of Rec: I have three incoming from my teachers. English/CounseloComputer Science/ Math (waiting for response)
Schools:
- MIT,
- Brown University
- Caltech
- Carnegie Mellon
- Columbia University
- Cornell University
- Duke University
- Georgia Institute
- Hamilton
- Harvard University
- Johns Hopkins University
- Princeton University
- Purdue University
- Rice University
- Stanford
- UMich
- UT Austin
- UT Dallas
- Texas A&M
- UC Berkley
submitted by goyalyug000 to chanceme [link] [comments]

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