| Title,Score,URL,Comments | |
| Why you should never trade on a phone with a curved screen,1928,https://i.redd.it/6ida6zn3kls41.jpg,"WSB is down the hall to the left mate. | |
| [removed] | |
| What the hell is even the point of these curved screens besides making everything suck and be annoying | |
| FTFY: Why you should never buy a phone with a curved screen | |
| Or even more, trade on a phone in general | |
| Market makers hate this trick | |
| Flatten the curve | |
| *Why you should never buy a phone with a curved screen. | |
| Just never trade on a phone | |
| This is how r/wallstreetbets trade their trades | |
| BS | |
| LOOOLLLL F in chat boys 😔😔 | |
| OOOF this is so sad | |
| You can turn it off, I did | |
| Lol | |
| Usually the price is on that side. So the issue is more with that app | |
| 😂😂😂 | |
| lol | |
| Haha, who has the axis on the left hand side though? | |
| omg thats brilliant-not-brilliant. | |
| 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 | |
| This is what they mean by, ""it's s around the corner""! | |
| This is hilarious | |
| 😂😂😂 | |
| Hahahhhah | |
| Whats is the point of curved screen? | |
| OMFG, that is crazy…. and the worst thing in the world | |
| Literally falling of the edge 😂 | |
| I am of the opinion that one shouldn't trade on phones at all. | |
| A decent computer / laptop. Good tools needed to be great at your task. Simple. | |
| What's the best way to create **Indicator based Alerts on Forex**? | |
| I've created one with TradingView when Gold crosses 50 EMA, | |
| but i want to know whether it can be done somewhere for free or inside MetaTrader itself? | |
| What is the purpose of these phones? | |
| Damn, that’s crazy!! | |
| 🫠🤣 | |
| Blame Samsung. They invented this shitty idea. | |
| 😂😂 me with a oneplus | |
| Terrible | |
| lolllll | |
| Dw I've seen the shenanigans of there already loool | |
| everything turns into WSB at some point | |
| 😂😂yea i just left that room its a bunch of idiots over there, im going back in tho👀 | |
| hahahahaha | |
| Charts were fixed on to the screen? Lol | |
| It's to make you accidentally press everywhere along the borders and cause random stuff to happen. | |
| Crack tour screen so you have to get another one | |
| Yeah, I never understood how distortion along both edges of the screen was a useful feature. | |
| You have legs, and I have legs, your legs are different than mine. Just because I may walk a bit differently to get to the same location, doesn’t mean that it can’t get the job done. The portability of being able to follow your trades on a phone as you go about your day adds to much convenience, and increased reaction time. Don’t knock trading on a phone. I’d rather trade anywhere I please, instead of being stuck in one room, and only being able to access trading from that one room. Profits are still profits at the end of the day. | |
| If you knew how much I make on my phone you would beg me to teach you 😉😘. | |
| Enjoy being an asshole. | |
| Hold the power button for 3-5 seconds | |
| It's kewl | |
| Oneplus doesn't curve anywhere near as hard as that. You can easily see the edges from the front. | |
| -OP7 Pro user. | |
| Making $20+ million dollars in a couple months is shenanigans? | |
| You must scalp on the 1-minute chart | |
| I read the shitposts for a bit of a laugh | |
| $20+ million fake dollars | |
| Scalping on the 1-minute is as crazy as trying to fight underwater with the Kraken. | |
| Someone woke up with shit oozing out of their adult diaper this morning, didn’t he :( | |
| Lol. Everybody has their own strategies. 1 minute charts don’t provide you with enough information for a clearer picture. My most important charts I follow prior to deciding to take a trade or not is the hourly, and monthly charts. What are some of your preferred methods to justify placing a trade? I still appreciate the humour of your post even if you don’t agree with my viewpoints. | |
| I have a million dollars…. In Schrute bucks | |
| No it's a guy named wsbgod. Verified multiple times. | |
| Not saying it's skill, what he did was just gambling. | |
| The way I trade is skill. Which is why I am consistently profitable for 6+ years. | |
| 🫡 wish me luck mate | |
| I trade weekly options/futures. And can tell even though the op is a turd, you wanted an honest answer. I find the weekly and monthly hold up the best. Even if the weekly looks bad, the monthly chart+weekly volume will differentiate between a bad week and a bad position. The minute/1d charts are only good for determining when to open/close a position you already studied for. I'll only take the 6m/1y when studying if the stock is even worth me looking at in the first place. | |
| So I like em all. I like charts. Give me all the charts. | |
| I'm here for cash. Not to use right before I die. I mean who really wants to rip a McLaren down a highway at 75. | |
| Nope, he's been proven to be a hoax iirc. Only got verified because his alt account is a mod on that sub. He's been running a pretty long con to promote his books. Other mods found out and kicked him out. Made for some delicious tea in r/wsb. | |
| How Does one get started? I've lurked on both subs for a while now done alot of reading and I just don't quite fully get it enough to begin. I'm a qualified engineer so I'm not totally idiotic but I just can't grasp it enough to feel confident enough in my understanding. | |
| *Strong name to brag beta* | |
| Lmao. I loved that analogy of ripping a McLaren down a highway at 75. You’re right though. I feel like I actually took something away from your comment there. All charts need to be focused on really. Not just a select few. They all contribute to the bigger picture. I guess the 1 minute charts do have a place in my heart after all. | |
| Yes, but lucky for you, my system is real and works 200% of the time, and when you download my videos you'll learn the secret to make BILLION$. Only $99 for a subscription. I'm practically giving it away! Why? Because I want you to make $$BILLIONS$$. Haters will say it's fake. | |
| Make a practice account on oanda, read the book naked forex. | |
| Feel free to ask me questions. | |
| Treat the practice account like it's real. | |
| Once you go live, start with $100-500, just something you can afford to blow up, because you will. | |
| Take it seriously and have fun. It's only money. | |
| lol. | |
| what are you trying to trade | |
| It's not me | |
| Where can I buy it? I want to know your confidential information on how to be profitable on the market | |
| Thanks mate I've given a few free accounts on different platforms a go, I'll give this one a play with too, appreciate it." | |
| You hate to see it,1503,https://i.redd.it/ycjv8hmp2b751.png,"Man everytime | |
| Makes me feel its manipulated tbh | |
| [deleted] | |
| Ahahahaha, just use astrology moon cycle for timing | |
| Every. Time. | |
| Mine and Golds current relationship hahahasadbois | |
| When you finally get in the trend.. chances are so is everyone else lol. This mentality is shared | |
| The market fluctuates in a way thats designed to either frighten you to accept your current loss or stop you out. More often than not, you can and should ride the current trend. | |
| Long = set stop loss underneath previous prevalent higher low, use average true range to avoid volitality stop outs | |
| Short = same thing but above previous prevalent lower high | |
| Basically stack all the buffs you can to win, nothing is too much if it helps you win and read charts efficiently. | |
| If you're losing consistently and cant find the hole - start it all over again. | |
| Ps. I'm no pro, I've just been getting my ass kicked around long enough to understand how to win. | |
| Also buy a whiteboard if you can it helps. :) | |
| ""Ah, tradebat, there you are, I've been waiting for you. | |
| Well, got to go!"" | |
| *-56 pips* | |
| Price: in a steady downtrend | |
| Me: sells | |
| Price: well now I am not doing it | |
| yeah thats why you dont buy high sell low. you have to create or adopt a strategy and stick with it | |
| 😭😭😭😭😭😭 I be like cmon bruh I just got in | |
| Now this is a forex post I can get behind | |
| What is this “ cartoon “ called ? I remember seeing it as a kid, its timelapse with clay right? | |
| lol | |
| LMAO | |
| retail traders....... | |
| Just do it before you're thinking about doing it, easy solution | |
| Pingu lol | |
| Seems like you need to get better entry points | |
| Bro just do the opposite | |
| I went to stocks because forex always fucked me like this | |
| Yep | |
| Story of my life | |
| me yesterday smhhh | |
| LMAO | |
| Buy low sell high seems to work for me | |
| true | |
| Moar indicators!! | |
| Every damn time. | |
| Look at smart money concept strategy | |
| That's because it is. | |
| It is. | |
| Resistances are fake, they only work as long as big players decide they are defending those prices. When they have to seek liquidity elsewhere those levels are crossed like butter. Trading around supposed support and resistance levels is a losing method (my opinion) | |
| Same. Or takes out SL and then goes in the direction I wanted | |
| Pingu :) | |
| ya and then it shoots up further (ノಠ益ಠ)ノ彡┻━┻ | |
| Do the opposite of what you think then. | |
| What's that | |
| Just look at client sentiment and do the opposite if there’s a strong bias towards one side. Pretty effective since the institutions will push against the mass consensus to maximize profits so you’ll be trading with the institutions. | |
| by the big banks, think like the big banks and institutions and watch your profits soar | |
| Blablblablaa | |
| Hahahaha he just answerd his own question but he doesn't believe it 😂😂😂 | |
| It’s because most people make the same error to base their decision ONLY by one single evidence. As I like to think about TA is that it’s based with DIFFERENTS EVIDENCES. For example you can’t just trade with R&S but you could try to add more things like a good volume indicator with a good volume analysis. You would discover that the 95% of the time the price break trough your trend line or R&S the volume has warned you way before the move. | |
| There are a lot of good things to check before open a trade and making this check will only raise your % of win. | |
| Thanks ❤️ | |
| This mans got it | |
| Big Banks and institutions do not see your 1 lot orders or even ten lot orders they don't play the retail game. They need to fill their book at the best price they can possibly get by ""working"" the orders. They have large books that they need to fill so they will drive price around using an algorithm to fill their orders by stopping people out (your stops are counter party to their orders). It's by design. | |
| In terms of scale, think of it like being in an ocean as phytoplankton swimming in a sea full of fish sharks and whales that create currents and turbulence as they move around and try to eat each other. Our collective mass is less than 10% of the total mass, we are insignificant consistent losers. Our objective is to try and coast off the turbulence created any which way it may flow while not being eaten. | |
| How do you not get eaten? Stay solvent. Keep your risk small and learn from your mistakes. Risk maximum 2% of total equity on your best setups and don't use mental stops (you will go mental with them), use real stops. Jot down your trades (wins losses and misses) and the thought process behind it, review your trades weekly. | |
| Find a mentor that actually knows how to make money, not guys who flash wealth. Lastly, experience is the only way. Watch the markets and gain the experience. There is no other way to make money. | |
| Yes of course, the more information you consider the better your chances. I also advocate for a systematic approach, and always look at volume, volatility, etc as part of your TA | |
| One thing I've always had a difficult time is how to use volume as for forex movements | |
| Happens suddenly, too. | |
| Great analogy. Thanks for your input brother | |
| Someone's watching ICT 😁 | |
| nice one bro ! | |
| That’s exactly what TA is! I’m learning way more with volume and it’s pretty clear that if you combine it with MA, Trendlines and other usefull indicators the win rate goes pretty up. It’s all about learning and knowledge. I like to see trading as making a pizza. More things you put more you know it will be good | |
| I like the reference but I would say that for both,the more things that you combine,you realize that simplicity just works best! | |
| Just like a pizza when you add to many things you can’t simply eat it (yeah I’m Italian lol). However I totally agree with you the message I would like that people will understand is to use the tool of TA for confirm their analysis and maybe to stop trading just 1 single pair | |
| Unfortunately that’s not effective. Proper TA is effective." | |
| Former investment bank FX trader: some thoughts,1430,https://www.reddit.com/r/Forex/comments/ia5f37/former_investment_bank_fx_trader_some_thoughts/,"This is worth to be posted on Medium or other platforms so the upvotes means more than just internet karma. Love this! | |
| Your write up is brilliant. | |
| I thoroughly enjoyed it and I find it making more sense to me then most of the articles and ""gurus"" I've come across... | |
| I was hesitant to trade due to my lack of knowledge on the stop loss and risk management but I can honestly say your write up has given me clarity... | |
| Thank you! | |
| Great post. Thank you! | |
| Good post overall. | |
| Cant disagree more with the idea of splitting the amounts you risk depending on your 'conviction' on any given trade though. The market doesnt give a rats about that. | |
| If you have a particular setup you are willing to risk a ridiculous amount on (ie 5%), then you should only be trading that setup and not the others. | |
| If an ideology I see floating around the subreddit way too much and it just boils down to traders thinking they know wtf the market is upto. You dont, dont pretend you do, risk your 1% or lower and take the best entries you can. Not 3 different ones where you risk different amounts per entry. | |
| Our job here is to control risk. I dont see why someone would open themselves upto potentially winning 3 x 1% trades and losing 1 x 5% trade to wipe out all their gains because they have more 'conviction' on 1 relative to the other 3. I mean you can argue that and say that you lose 3 x 1% and win the 1 x 5%, but again... our job is to manage risk, not hope for wins. | |
| The concept, and why its popular, boggles the mind tbh. | |
| Good stuff brother. Hope you stick around; this forum could use some more real professionals. | |
| Awesome write up. Definitely looking forward for the next pieces. Thanks! | |
| Good info about risk management, but the problem for retail traders is getting good trades to begin with. Most strategies will lose money regardless. Which makes me wonder, at the bank were you trading completely ""isolated"" or were you given briefings on which directions to trade certain currencies, or that sort of thing? | |
| Fuck ey, someone who actually knows their shit. I am not a huge fan of Kelly (for same reason you divide by 4) but even getting new manually trading dipshits who are likely to hand all their money over to the market to use any reasonable money management system is a good one. | |
| He hasn't plugged it but this is obviously his site: https://getmrmarket.com/ | |
| No 'buy my education/system' bullshit, so props for that- but yeah, also like all trading 'gurus' there is no evidence of success. | |
| Question on position sizing, wouldn't the stop lose dictate it more than the % of the position size itself? | |
| In your ex, given capital 100k and max of 2% risk per trade ($2k) | |
| I could trade: | |
| 10% position size (10k), and set stop-loss at 20%, | |
| 20% position size (20k), stop-loss 10% | |
| For 4% position size ($4k), I could have stop loss as big as 50% (still risking just 2k per trade) | |
| Then i can have flexibility to have 10 trades of 10k each (if I set stop loss at 5-6% instead of max 20% then I would even have more safety of margin), or maybe 5 trades of 20k each. | |
| Edit.. | |
| Scenario above is for equity market, where loses won't make your stocks go 0 (I guess 99% of the time). | |
| Great. More | |
| Hey is this applicable in the crypto market? | |
| Thanks anyways you re doing something really cool | |
| [deleted] | |
| Thing is real GOLD. Please, keep it coming! Cheers | |
| The best post what i saw in forex category so far ... | |
| All about that risk managament and consistency ... | |
| Very well written, loved to read cant wait for more | |
| Cheers | |
| Can you please write a book, this is perfect | |
| Great post man. Whats your view on deciding on a stop loss price (without putting it)where you manually stop the trade if a candlestick actually closes at that price or worse? So you avoid wicks messing with your trade, if that makes sense. | |
| What’s your opinion on fundamental vs technical analysis or a combination of both? What are the advantages and disadvantages of each? | |
| Genuinely curious here- you're telling me institutional traders trade the same strategies as retail traders? Right- because in the first portion you said it was very different from home traders... Emas, support and resistance? Or are you just using that as examples to relate to retail traders? | |
| One thing that is very important is previous monthly highs and lows for sure- people overlook this too often. | |
| Curious what your sharpe and sortino ratios are if you don't mind sharing. | |
| As a retail trader, if you have the option to set your leverage with the broker at 1:20, 1:50 or 1:100, would you set it at 1:100 but still buy/sell units such that your risk per trade is no more than 2%? If you would set it to 1:100, why? Why not use 1:20 and still risk 1 or 2% per trade? | |
| With my broker I have the option to set my leverage at 1:100 but I have set mine to 1:20 and generally risk no more than 1% per trade using position sizing based on where my stop loss is placed. | |
| [deleted] | |
| [deleted] | |
| > In general most traders should trade smaller position sizes and less frequently than they do. | |
| First of all, thank you for these very helpful and concise posts! | |
| I am currently looking at the maximum 2 positions a day. | |
| Do you count this as too much? | |
| I had been super busy and just got around to reading this post. In all my time as an amateur trader experimenting with position sizing and strategies I must say this is a fine piece of work you have put forth. I personally took a break from trading to focus on studying some math/financial instruments more in depth, I wanted to ask you if you had any resources that have helped you along the way better understand techniques of trading strategies? | |
| Thanks so much for this. I have never dabbled in Forex at all but a lot of people ask me about it since we have a very scammy Forex TrAdEr community here in South Africa. | |
| Feel a lot more comfortable in explaining this in a nutshell to my friends and will point them to your post 👍🏽👍🏽👍🏽👍🏽 | |
| I am a fly trader and premium seller in equities and vix but I still found this useful. | |
| Thank you. | |
| Thank you. This makes a lot of sense and is easy to understand without feeling like you're trying to sell me something | |
| I’ve been looking for clear and concise info that isn’t full of jargon that makes me feel dumb or intimidated! Thank you!! | |
| The banks are not out necessarily to get you, per se, even though it may seem that way. | |
| They are much better equipped to handle the risks and challenges of this industry. | |
| None of the above is to be construed as investment or trading advice. I know absolutely nothing. | |
| Be prosperous. | |
| Thank for taking the time to post this. | |
| Great thanks! | |
| Great post, waiting on the next ones. Cheers. | |
| Very thorough. | |
| Great post - followed you, looking forward to more! | |
| Great stuff. Keep it coming bud! | |
| Good read. Waiting for next article | |
| Thank you for sharing your knowledge, kind sir! Looking forward to your next posts. | |
| It is very kind of you to help. To those who are new to trading, this is gold. Looking forward to the next article | |
| Hey mate, this is incredible. can't wait to see the next chapter. | |
| I agree with all what you said above. | |
| For more specific about risk management, I have always been risking 1-2% per trade and the way I manage my risk is with using the consistent lot size as I feel that grows my capital more consistently combined with good r:r. Obviously it took time to be disciplined and emotionalless. | |
| May I ask you if you don't mind, why did you quit from investment banking ? do you trade by yourself now ? | |
| I rarely comment since im just a lurker generally. Thanks for this post. Pretty awesome for you to share your expertise. | |
| Thanks for the post. I'm hoping that you will talk about how to curtail overtrading/FOMO as well as Taking profits. | |
| Thank you for your great post. I would like to know if you will cover Fundamentals (Cental banks monetary policy), seasonality, geopolitical events, election season etc. I think those things should also be taken in account right? | |
| Btw I started to work for a broker as a salesman, at least for a month to get some experience but later on I want to to trade. Still trading my own money. | |
| Had to save this one, thanks | |
| What a legend. Thank you for taking the time to write this up, will be following for more :) | |
| Great post, very concise | |
| Thank you, much appreciated | |
| Damn good ass post. Can't wait to read more :) | |
| I NEED TO SEE ALL OF YOUR WORK! IT'S AMAZING 👏 | |
| Thank you so much for sharing your knowledge, I'm geniunely excited for your future posts ! How did you go about fundamental analysis - what sources did you use and also which economic factors have the most impact on the fx market ? | |
| Thanl you very much, OP, will read all your upcoming posts. Valuable knowledge and very well explained. | |
| Thought of writing a book? | |
| And every now and then we get a worthy post to read. Very good material. Thanks for sharing. | |
| Great stuff! I can’t wait to read the follow ups! | |
| This was a great read. To follow up on that GBPUSD example, do you use any specific methods for optimizing the size of a stop loss? For example, visually determining a distance between entry and exit at loss. What about the use of an ATR? Any special ""numbers"" there? | |
| [removed] | |
| [deleted] | |
| I’m just getting into Forex and this has helped. | |
| Two questions: | |
| 1. Do retail forex traders use automated trading systems to buy/sell, similar to the stock market? | |
| 2. Does automation exist for ‘stop hunting’ arbitration? | |
| Looking forward to parts 2 & 3. | |
| Holy shit bro thank you for taking the time to do this | |
| Thank you for taking time to post this. This has been very helpful for a new trader like myself, and im sure it'll help all of us on this subreddit to become smarter traders. | |
| This is an excellent post and write up, managed to cram a lot in a clear and concise way, thank you. | |
| This is really an interesting summary about risk, looking forward for part II. | |
| Love the thought that you want to give back to the community and it seems to me you have found a grateful audience. 1+1>2. I will follow your posts with great interest! | |
| Just copied and pasted this in my special MS One Note folder where I keep all the knowledge gems. Thank you for sharing your experience and knowledge. Does wonders for beginners like me looking to become full-time professional traders | |
| Lovely post, thank you for your insights! Learned a lot from this! | |
| Looking forward for a book on forex trading by you. 4-5 years? | |
| Fantastic post. Thank you. | |
| What a hell of a post, Jesus man! I enjoyed every bit of it, congratulations and thanks for the clear way you explain everything :) | |
| This was awesome! Thank you so much for teaching us risk management. | |
| Seriously this is better than most of the crappy YouTube traders out there. You should try to get this in another format other than text. If you get it on YT you may even get add revenue. | |
| This post deserves so much more upvoting. | |
| Thank you very much for taking the time and effort to write a beautifully educational post! | |
| Great Post sir. You should consider making a ebook. It'll do well I think | |
| Loved this one sir | |
| [deleted] | |
| This is so cool! Hoping for more insights from you | |
| Part one very helpful! looking forward to part II and part III | |
| This will help me A LOT. I'm about to open my first trading account a few weeks from now.. and I'd like to try my luck on whether or not some of you guys would lend me some type of learning material for FX trading. Really eager to learn. Just don't know where to start lol. | |
| ICT (Michael J Huddleston) claims that there are ""institutional levels"" which are .00 .80 .50 .20 and the reason for that is that large fund traders are having a lot of orders there. Can you comment if you've seen this happening from your perspective? | |
| Appreciate the response thank you | |
| You have no idea how useful this is to someone just starting out | |
| Thanks for this series. Amazing work! | |
| [deleted] | |
| > where it lands on heads 60% of the time and tails 40% of the time. | |
| Efficient Market Hypothesis says no. Your backtests may give you a number, but it's not real. | |
| > Say you bet $50, the odds that it could land on tails twice in a row are 16%. | |
| Gamblers Fallacy. | |
| When Kelly Criterion fails does that mean you switch to Martingale? | |
| Betting strategies are not true risk management. That was done by the quants who took you as traders into baskets and managed your risk through diversification. They found beta by using your uncorrelated differences. | |
| > Theorem 1: If a gambler risks a finite capital over many plays in a game with constant single-trial probability of winning, losing, and tying, then any and all betting systems lead ultimately to the same value of mathematical expectation of gain per unit amount wagered.[1] | |
| I’ve got a very reason broker | |
| great read | |
| Thanks! I look forward to reading more! | |
| Great post! thanks for sharing your knowledge. | |
| got a quick question: do you still trade forex now after leaving your former job at the bank? is it like a full-time thing or part-time? thanks | |
| This seems like some actual work 🙄 why not just buy Tesla calls ??? | |
| this thread reads like a cocksucker convention. | |
| I do not understand the expressions „pips“ and the use of (50:1)“leverage“ | |
| Could someone please explain? | |
| Fantastic! | |
| Finally someone who’s not preaching garbage or leading one astray and is actually trying to help those who want to be helped. May your success multiply! | |
| This post is GOLD !! | |
| Thank you for reading and commenting :) | |
| Thank you for reading and commenting :) | |
| I feel strongly that you should not need to pay for high quality content these days (I mean... even Stanford puts its lectures online for free) . | |
| Thank you for reading and commenting :) | |
| Thank you for reading and the comment. | |
| Whilst I do LOVE your general theme that retail traders should control risk and take smaller bets, i must disagree on this particular point. | |
| Mainly, because the risk-adjusted success of many bets *is* quantifiable through thorough backtesting. If I come across a strategy with a high Sharpe ratio I should certainly allocate more to it than one with a lower one. This is a very well established fact in portfolio management. | |
| Even non quantitative strategies work along these lines. Let's say the fundamentals look attractive on a particular trade - call it long AUDUSD - and the tech level now permits an entry with good risk:reward. You have positive expectancy on the trade so you are gonna do it. Now imagine the exact same scenario but this time the market positioning is at all time extreme short AUD and related markets (Aussie rates/bonds, copper etc.) *already* moved whilst AUDUSD didn't. | |
| Discretionary traders will have higher conviction in the latter scenario (there is more information) but will still bet on the former if they still expect it to produce a positive result on average, hence the variation in capital committed between the two trades. | |
| Hope that helps clarify the logic? Open to your thoughts. Cheers. | |
| > The market doesnt give a rats about that. | |
| On certain cases, it gives more or less rats. This is why you upscale to just 5% instead of... 100%. There are situations when stars align and there are situations when you have a hunch and the duty/mood/etc to trade. | |
| If the market wasn't predictable even by a tiny little edge, trading - ALL trading - would not exist just as a tic tac toe market doesn't exist, because there is no edge in there. | |
| Thank you for reading and commenting :) | |
| Thank you for reading and commenting :) | |
| Thank you for reading and commenting :) | |
| In a later topic i'll go through trade selection - there are lots of different approaches. Retail traders focus on tech analysis but there's also a) fundamentals ; b) factors (carry, momentum etc.) ; c) intermarket relationships etc. I'll do a topic on each. | |
| In a bank you can choose what to trade but in reality you are influenced by a) your trading colleagues' views; b) the activity of your clients (hedge funds etc.); c) insight from your research team. There is a morning briefing in which everyone shares their views and updates come throughout the day via something called a ""squawk"" - like a walkie talkie that folks can broadcast over. | |
| Thanks for the kind words. | |
| Yeah I am inherently skeptical of anyone claiming to be a ""guru"" (I certainly wouldn't use that word) because invariably they want to sell you something (as you noted, I don't). | |
| All I would claim I was professionally trained at a top IB and thus accumulated knowledge and experience which means I can offer insight into how professional discretionary traders conduct themselves. | |
| I'm actually at pains to explain there's no magic formula that anyone can teach which works out of the box : even if you could study under a hedge fund legend with twenty years of audited returns there's really no guarantee you could just rinse-repeat. | |
| I strongly believe you can learn the basics and avoid mistakes tho. Imagine being a writer and studying under a famous author - you won't necessarily end up one yourself. However you will be likely to improve if you follow some well established techniques that professional writers have used consistently and avoid making newbie mistakes like overloading on adjectives etc. | |
| Since I offer all my content for free no strings attached (per this Reddit etc.) I hope you'll agree it's a pretty fair trade. Even free stuff can be valueless tho - it is all about it's quality - so I really appreciate that you and others on here found it decent. | |
| Yes that's exactly right. The wider (more distant) your stops the smaller your notional position will have to be. The two things combine. | |
| However, the market doesn't care about how much capital you have so that should not be a factor. | |
| Instead, find a reasonable SL level - using techniques in this and part II post. Then go back from that to work out your notional position size by entering the SL pips , your account balance and your desired % risk per trade. | |
| I personally am more of a fan of longer horizon trades so naturally the longer the horizon, the bigger the stop distance, the smaller the position. | |
| Thank you for reading and commenting :) | |
| [removed] | |
| Thank you for reading and commenting :) | |
| Thank you for reading and commenting :) | |
| Couldn't agree more! | |
| Thank you - will add more! | |
| Thanks for reading! Since this request came a few times already in replies I'll speak with the mods about what's allowed - I want to be helpful and share content for free but I also wish to respect the rules. I see there's an FX Gears book thread - maybe if they feel it's up to scratch that's an option. For now please just keep an eye on here as i will write more. | |
| Thank you. Yes, it is quite common to reference closing prices (rather than absolute high/low during the period) to avoid some noise. The difficulty with doing so on a stop (rather than trade entry, where i see it more) is what on earth do you in a SNB CHF depeg situation? The market drops way through your level and keeps falling ... surely you cannot wait for close of the day to trigger an order and get flat. Therefore without some complicated 'if this, then that' logic I think it'd be hard to achieve certainty of how much risk you're taking. | |
| I'll cover this in a later chapter but typically for discretionary trading you'd use fundamental analysis to get a long-term bias (view up or down) ... then tech analysis helps you time the entry/exit levels ... you wait for conditions to be attractive. You can combine other pieces of information (position, related market price action etc.) to help bolster or weaken your view. I'll cover it all in a separate note. | |
| I will cover tech analysis in a later chapter. Institutional traders do use it although more for picking entry /exit levels than trade generation. A decent Sharpe would be >1. | |
| The crucial thing is definitely controlling the risk per trade. The leverage offered is way too high in my view and leads to people trading larger amounts than they should. If you have $5k to risk and stick with 2% per trade you should only be risking $100 per trade. Let's assume you run something like five trades at a time and have a stop loss of 100 pips. You only need to trade a 10,000 EURUSD clip per trade. So 1:20 leverage is absolutely fine and you don't need more. | |
| Thank you for taking time to read and comment . Fully agree - risk management should be the core area of any training | |
| Thank you. | |
| Very interesting questions. | |
| I think the ""Robinhood effect"" of retail trading is more observable in stocks - consider Hertz, for example . However look at what happened in oil when it went negative as well. In FX I think it's less clear: the retail volumes that get hedged are a tiny fraction of the overall. It's probably most pronounced in JPY. | |
| Yes, I'd be happy to do a post on that. I agree there's a lot of misinformation on this topic. | |
| Hiya. I'm not a huge fan of monolithic rules like ""no more than X per Y"" because these values must naturally adjust for - at a minimum: | |
| -execution costs | |
| -opportunities available | |
| -volatility | |
| -your level of alpha | |
| etc. | |
| Qualitatively what you should aim to avoid doing is wasting money on throwaway low conviction trades because you are bored and want to have some excitement. Sitting there all day and not doing a trade - do you feel you need to trade so that you have got something out of the day's work? Well, if no attractive trades present themselves then it is better not to ... but most of us aren't wired that way :) | |
| Quantitatively, look at the cost of getting in/out of the trade. Basically that is: the whole spread (half on the way in; half on the way out). Say 0.8 pips in EURUSD. Now compare that to your TP level. If you are trading a one-hour chart and the typical move in one hour is, say, 10 pips then you are almost 10% down (0.8 pip of 10) before you even start due to transaction costs. If you extend and trade a weekly view, the entry/exist costs are far smaller as a proportion of the range. | |
| Thank you. I am glad you found it useful. Sure: I have asked if some additional stuff can be added to the /education section of this forum's wiki. | |
| Cool. Yeah I hate that scammy side of things. Glad you enjoyed it. | |
| You are very welcome! | |
| Thank you - that was my aim! | |
| Thank you for reading and commenting :) | |
| Thank you for reading and commenting :) | |
| Thank you for reading and commenting :) | |
| Thank you for reading and commenting :) | |
| Thank you for reading and commenting :) | |
| Thanks for reading! | |
| Thanks for reading! | |
| Thanks for reading! | |
| Thanks for reading! Don't wish to talk too much about myself to be honest, I'd rather let the content speak for itself :) | |
| Thank you! | |
| Definitely - I will do a chapter on the psychology of trading, which covers all that stuff. Very important topic. | |
| I certainly will, yep, that'll be a later chapter. | |
| Thanks! | |
| Thank you | |
| Thank you | |
| Thank you | |
| Thanks | |
| Thank you | |
| Thanks - I'll cover it in a specific chapter | |
| Thank you. Per a previous comment I need to check with mods on what's allowed as i do not wish to break any rules on promotion. If it is possible to do so within the rules of the forum, I'll be happy to share a free PDF book version with all the content. | |
| Thank you | |
| Thank you | |
| Perfect question - see part II post (coming soon) for exactly this. | |
| Thanks | |
| Thanks | |
| I don't feel i'm well qualified to answer these two but i certainly see that ""EA"" systems are used by retail traders from google, though i have no real experience in that area | |
| Thanks! | |
| You're welcome | |
| You're welcome | |
| You're welcome | |
| Thank you, coming up soon | |
| 👍 | |
| Thank you | |
| You're very welcome. Check out part II! | |
| Thanks - I do have a collection of articles but don't want to be seen as promoting when I'm not. I can check with mods later if they think it's suitable for their wiki/book thread. | |
| Thank you. I hope you enjoy part ii | |
| Thank you for reading | |
| You're welcome | |
| Yeah i'm less bothered about making money tbh. Maybe I'll do a video version at some point but it seems like a fair amount of effort. I like writing and i know nothing about video production/editing. I do agree though - I often use YouTube to learn things in a non trading context so I can see why you and others like the video format. | |
| You're super welcome. | |
| Thank you, yep on it. | |
| Thank you! | |
| Thanks! | |
| Thank you | |
| Thanks - they're up now | |
| There's a good wiki in this subreddit, i guess check that out to start with. | |
| As in, people leave orders at round levels? Yes that seems true of both retail and institutional though I never looked at the data. I think round figures .00 are def a thing, less so the others. USDCHF thru 1.00 was a good example of this. | |
| I'm really happy it's helpful | |
| Thanks | |
| A few things. | |
| You cannot manage risk with having SL orders unless you never sleep. So I don't see any alternative. As you said - what if something big happens? You might find out five hours later and have to cover at a much worse level than if you'd left an automated stop. | |
| I think this idea of a whale hunting a retail stop is pretty much nonsense. Say you trade EURUSD and you have a position of 1 million (I understand even that would be quite big for most retail). 1 million is just ... nothing. EURUSD trades more than 500 billion most days with a range of approx 50 pips. Your order of 1m is hardly going to move the market! It is like a lion hunting a fruit fly - he won't bother because it isn't going to be worthwhile :) | |
| The area where I would be concerned is sketchy brokers. It is plausible that a bad actor might do something like blip the market data, which triggers your stop. Note that any broker could never actually move the real market (they don't have enough volume/firepower to make EURUSD go up or down market-wide) so only their market data will move and you should be able to spot this by doing a comparison. The solution here seems simple to me: stick to highly regulated brokers (ideally public companies) in major jurisdictions and you needn't worry. | |
| Well, most of the liquid pairs like GBPUSD are most liquid (i.e. cheapest to trade) and move most during the London-NY crossover for obvious reasons - most participants are in then. ""Fiber"" i don't recognise? It is true that EM pairs are more idiosyncratic and have fewer people focusing on them so if you have some particular edge in understanding a given country's economy i can imagine that's true ... on the other hand the spreads are far, far wider and liquidity is much worse so they're harder to trade from that perspective. I expect most people are better off sticking to the most liquid pairs. | |
| With respect I think you've misunderstood a few things. | |
| EMH does not literally mean that markets instantly absorb all known information - or rather , taken in such a string form no one at all thinks the theory is remotely accurate. https://www.aqr.com/Insights/Research/Journal-Article/The-Great-Divide is a good primer. There are many obvious examples : Why does momentum continue to work? How can retail traders pump up the price of entirely the wrong zoom stock? How does RenTech exist? EMH is a wonderful observation that talks to the ""pricing in"" effect I wrote about in a later post but clearly it doesn't mean that markets are perfectly efficient and all actors in them are perfectly rational. I don't even think it's most ardent proponents would claim that now. Check out the AQR note for a great round-up. | |
| I don't follow your second point. You just inserted a random non sequitur. It has nothing to do with Kelly? Gamblers fallacy or Martingale are the exact opposite approach of Kelly which prevents you from overbetting. Kelly was not just some random betting guy: he was a first-rate mathematician and in the same circle as Ed Thorpe who also combined maths/fixed odds games/finance and is widely thought of as the founder of the first quant hedge fund. Many of the largest fund managers are on record saying they use Kelly today. Math doesn't age badly. | |
| >Thank you for reading and commenting :) | |
| Thank you for reading and commenting :) | |
| For real lmao 😆 | |
| No fr lol | |
| I don't get it I think | |
| Senpai, teach me your ways! | |
| No really man! I want to get your details and everything! 😂 | |
| I'm a IT grad that just got work and have A LOT of bills to pay. So i have to get the knowledge first, and demo trade. Untill i know i am ready, and know I can afford to lose the money i trade with. But yea, would love to learn more! | |
| I totally understand where you coming from and I do agree to a certain extent... | |
| Here's the other side of the coin, people that pay for things tend to be more committed to seeing it out till the end compared to people that find it free online... | |
| I suppose it's the type of person consuming the information. | |
| Double edged sword. | |
| I look forward to reading your other posts. | |
| Hi, thanks for the response. | |
| Cant agree more about the importance of backtesting. But that was pretty much my point - if you have a strategy or system that has a higher expectancy than the other then why not just trade the high expectancy system only - if not only for peace of mind and assistance in controlling ones psychology. | |
| If for eg you have a predetermined drawdown you are not looking to hit (lets say 25% over the 3 levels of trades you pointed out 1,3 & 5%), trading only the higher expectancy will pretty much assure you dont hit that max drawdown level while also maximising risk-adjusted returns. | |
| I would assume that the less expectancy a setup has, the more often it occurs and this would be the same situation as your example uses (this has been an observation I have found to be true in all my testing). So lets assume that perhaps the 5% trades dont happen that often but I would be very cautious in taking them at that risk level anyway because I hate the idea that one loss on a 5% trade wipes out 5 1% gains or nearly 2 3% gains. | |
| I am not saying the system of splitting risk levels doesnt work, it probably does but employing that kind of risk management scheme can pile a load of pressure on the psychology (Esp for newer traders) that really doesnt need to be there. | |
| This ofc is just my opinion. | |
| Disclosure : I risk 0.25% a trade but each trade has an expectancy of 0.155 ((33%\*2.5)-(67%\*1)). I take about 5000-5500 trades a year so the edge plays out in the long run. | |
| I have taken a log a while back over 1000 trades and graded them by conviction and confidence - findings suggested that the end result for split risk was slightly lower, pretty much the same as flat risk BUT the psychological impact that came with 2 or 3 higher confidence trades losing in a row was damaging and really not worth it. | |
| I respect that doing a test on confidence is different to having a different setup with a different expectancy but conviction and confidence is more linked to gut feel than anything. | |
| All the above has pretty much led me to stick to a flat risk rate on a completely objective system rather than split risk on a discretionary system. | |
| That was a great post btw! Good for beginners, and for more experienced traders as well learning about somethings that we may not have known about. | |
| I have a question regarding the industry though; how is the market like career-wise for traders wanting to go into the more institutional side of things? I've heard of prop firms and such, but what I've been told is that they're actually exceedingly rare and the ones that do exist use mostly quant strategies. The ones that use discretionary strategies are even rarer. What do you think about the possibility of someone who's a retail discretionary trader breaking into the institutional side without having great academics like how it's so often required in these high-finance roles? | |
| > Mainly, because the risk-adjusted success of many bets is quantifiable through thorough backtesting. | |
| Risk-adjusted-reward yes. However the ""probability"" numbers are meaningless. If your backtest tells you 60% chance of success, just assume that actually means 50%. | |
| Thanks for the response! | |
| I'll make sure to check out future posts then, personally I lean more towards fundamentals rather than technical analysis (been there, done that) but haven't had an in-depth look at the others. Wondering if you've ever looked into/used order flow? | |
| Interesting that you say that about the views of other traders/clients, I think u/parallaxfx (who runs/manages a fund) said that the most useful part from the Bloomberg terminal was the chat, as you can see what everyone else is doing. I've been using the COT report myself as a sort of retail look into what the big speculative traders are doing, though it's a bit delayed. | |
| [removed] | |
| Thank you | |
| Thanks for your response. That's what I was thinking as well and why I stuck with 1:20 leverage but I just thought I'd see if I'm on the right track. | |
| Woaw, thank you so much for this great insight! | |
| I hope to one day become has knowledgeable as you! | |
| No worries mate, keep it up! I will be a loyal reader haha | |
| Even if the mods don't allow it, I would definitely be interested in one, if possible. I'm more than happy to offer something as a thank you. | |
| As a new trader seeking a career in currency do u have any tips tricks resources or process suggestions to help breakthrough into the industry? | |
| Thank you for your answer. | |
| What about institutional type of trades, also known as order blocks where there are engulfing candles and the sentiment is that retail traders are not able to move markets like that. After engulfing candles price tends to come back for a retest and continue with an intended direction. Is this something that institutions, in your opinion, are specifically doing? | |
| Is the retail ""liquidity hunt"" a thing? E.g. pushing a price where retail traders most likely would have their stop-losses. | |
| > the exact opposite approach of Kelly | |
| Precisely. | |
| With the same outcome. | |
| > Theorem 1: If a gambler risks a finite capital over many plays in a game with constant single-trial probability of winning, losing, and tying, then any and all betting systems lead ultimately to the same value of mathematical expectation of gain per unit amount wagered.[1] | |
| https://en.wikipedia.org/wiki/Betting_strategy | |
| As much as you'd like to think your backtests contain probabilities, they are just *back*tests. | |
| Lol, i'll be posting more on here and eventually create a summary thread for people. I am glad you enjoy it. | |
| This guys been sold many online courses | |
| Thanks - glad you like it. I will be honest I think it would be super hard. The routes i know are joining a graduate scheme at a bank or fund manager (competitive process) and then moving as an experienced hire. I am not very familiar with the ""prop"" shops. | |
| Yes. I will cover the various things in later posts when i get the time. Most discretionary traders i know would use some form of fundamental analysis combined with intermarket relationships and then patiently wait and use tech analysis solely to pick entry/exit levels and timing. | |
| COT is great (and i'll be covering it in part III), although delayed as you correctly note. If you trade over long horizons that matters less. If you are on BBG and have a good network you get anecdotal evidence of what others are thinking/doing in real-time: I agree this is an advantage and the main use of the terminal alongside charting. It can also make things noisy and risks groupthink though so it is not without demerit. | |
| Banks also estimate positioning based on what they see each day. COT only covers those pairs with liquid CME futures (EUR, GBP, AUD etc.) whereas there are many interesting FX pairs that trade elsewhere (SEK, NOK, KRW etc.) and thus are not included in the report. | |
| Working for someone else? The only route I know is applying as a graduate to a bank for a summer internship and then they fill full time grad class from those. It's similar with asset managers. If you mean trading for yourself , I guess education is the first thing and being self aware so you can take an approach that fits your personality and protects against your psychological biases (we all have them). | |
| I agree - retail flows are too small (individually) to move markets and it can certainly be the case that a huge institutional portfolio switch can (temporarily) move a market. In such cases (assume a buy) you'd probably see the market move up with the order ... then mean-revert as it pauses or finishes ... then up again as the order resumes and/or other investors add similar positions because investment models can be quite similar. | |
| I don't think institutional investors are trying to hunt retail stops, nope. | |
| What you have said makes no sense, I'm afraid. You keep quoting Wikipedia articles but do not think about what the words mean or when such an observation would or wouldn't apply. What is the single-trial probability of FX trading in your view? Is it the same for all participants? Is it the same for all strategies used by these participants? Do the same strategies vary over long periods of time? Etc. | |
| However, I don't think it is for me to argue the case for Kelly : there is plenty of both academic and practitioner literature on it and you are welcome to ignore it should you wish to do so. 🙂 It's not really worth continued discussion - there's plenty of evidence out there and if it doesn't convince you then I'm not going to! | |
| Saying backtests are backtests is true in a trivial way of course : one can use all sorts of techniques to avoid overfitting but of course you are only working with past data. Making the logical leap that these past data contain no clues as to future data (ie thinking that they cannot inform probabilities at all) is a very non consensus concept. The entire statistical arbitrage industry would surely disagree! Your logic would again fail to explain the momentum factor. Again though if this is what you think I see little to gain by discussing it further. You are entirely free to hold a novel view but you should be aware it is totally at odds with industry norms and academic literature. | |
| I'm your biggest fan now. I've been looking for something like this for a long time. | |
| Thanks man, glad to know. It seems like all the time I've spent trading can't really be utilised in building my corporate career :\\ | |
| [removed] | |
| That all sounds pretty similar to what I'm doing then; entries using charts, in the direction of COT and/or economic data. And yeah, COT seems to swap over over several months so I'm not too worried about a weeks delay, especially as I'm still only going to enter once I see a good price. | |
| Thanks again for the responses, lots of stuff to look into :) | |
| Thank you, this is incredibly helpful! | |
| What are the most simple strategies that you’ve seen institutions are using and that retail traders are not? Are there any? | |
| > What is the single-trial probability of FX trading in your view? | |
| The choice of up/down. | |
| Your counter example was momentum, which is more about price-action than TA. | |
| > Is it the same for all strategies used by these participants? | |
| Over time, yes. I'm sure you know from experience that nothing works for very long. | |
| > plenty of evidence out there | |
| Sure, if you start from the premise that you can predict probabilities of up/down direction in a random time-series. | |
| Kelly works. If you have a probability to go with. | |
| > The entire statistical arbitrage industry would surely disagree! | |
| That's where they take your decisions and then hedge them with the decisions of other traders. This is how your boss made risk-adjusted-reward from your decisions. | |
| They don't need to rely on predictions of direction but find beta in uncorrelated actions. | |
| I see little to gain by discussing it further. Ask your boss about how it works. | |
| Thanks - glad you like it | |
| > COT report | |
| seems to be ""commitment of traders"" reports from what i found searching | |
| not sure what BBG is though | |
| Timezone based - for example go plot (over last ten years) performance of gold in London hours period and outside that period | |
| Bloomberg (terminal). | |
| BBG is bloomberg terminal. | |
| It's what everyone (almost) uses to get information at institutions on both the buy (funds) and the sell(brokers/investment banks). | |
| I am on the buy side my entire career and use one to chart get info run analysis price options and then execute with chat. And also get research through chat in chat rooms. | |
| Thanks u/getmrmarket for jogging my memory I've been trading appallingly on my pa account recently, I look forward to more. I'm in research now so allowed a pa account at the moment. | |
| Other than the benefits of reduced spread and higher liquidity during certain trading sessions, could you please explain the advantages behind trading a specific timezone? Thanks | |
| Exactly right - Bloomberg terminal, sorry for the shorthand. COT is a positioning report, I'll cover that in detail in part III. | |
| There appears to be bias in returns based on timezone https://www.snb.ch/n/mmr/reference/working_paper_2011_04/source/working_paper_2011_04.en.pdf | |
| I appreciate you sharing this research paper.I have spent the last half an hour reading it and drawing my own conclusion in an attempt at forming a bias to compliment my own strategies. I believe this sort of knowledge could be hugely beneficial, and I can understand why institutions may utilize research like this and therefore why they may have an advantage over retail traders.Thanks again. | |
| ​ | |
| I also checked out your website as I seen someone else in the comment section link to it. I like the information provided and I will for sure look deeper into everything and I will also be signing up to your emails. | |
| Yeah try replicating what they found for yourself (ie plot EURUSD average move by morning Vs afternoon) and form your own conclusions - it is definitely an intriguingly persistent phenomenon of which to be aware." | |
| Trading Forex in a simple video,1282,https://v.redd.it/r7xn8e4jzbw41,"The kid in Blue had a stop loss | |
| The best representation of why 99% of traders fail | |
| Signals groups* | |
| Get in, get out. Perfect. | |
| i kinda feel attacked | |
| Nailed it!!! | |
| Perfect | |
| LOOOOOOL this is it. its captured perfectly | |
| when you try to follow a trend | |
| First one’s always free | |
| More like trading binary options | |
| trading overall haha | |
| Lol! This weirdly resonates with me. | |
| The kids who hesitated got burned by the market. Or in this case wet. | |
| Perfect bell curve - The orange kids knew how to trade (10%) and got out perfectly. The blue kid knew when to stop and take a loss (the other 10%). The other two were trying their luck and failed (80% of the traders, mostly newbies). Lol. | |
| This is perfect haha | |
| BITCOIN FOMO and then FOLE. | |
| That's literally all trading | |
| As you see at the start the children were running from bulls, but on the return a bears was at their tail. | |
| That a true representation of me. Im the one holding the camera watching traders making money and losing while not making any myself lmao. | |
| Hahahahaha so true | |
| u/vredditdownloader | |
| u/videoredditdownloader | |
| u/videoredditdownloader | |
| u/savevideo | |
| Good for describing trading. Lol | |
| the kid in the orange is manipulating the market, pumping and dumping | |
| 😂 | |
| 🤣 | |
| LOL how did you know? | |
| You’re in the 1%? | |
| Lol fuck no | |
| Your honesty is refreshing lol" | |
| Not as romantic as you think😂,1275,https://i.redd.it/0qpueeph6n761.jpg,"The consolidation phase on the ramen is what’s stressing him out. He’a actually on short position. | |
| the fucking Ramen did it for me. | |
| this is gold. | |
| We need more memes in this sub😂😂 | |
| This made me exhale with great force, much appreciated! | |
| I love me some ramen noodles... | |
| Now *THAT* is romantic. ;) | |
| You reposted this :( | |
| Why does forex trading seem to be filled with the biggest douchebags who are probably broke? | |
| Haha, this made my morning much better! | |
| Damn this 1 hit home hard 😪 😕 | |
| Yes. Dinner and candles. | |
| 🥲😂😅🙃 | |
| ?? | |
| Are you good | |
| Excuse you | |
| Who hurt you bro | |
| I just see them on Instagram all the time and it seems like fake wealth just like all the “entrepreneurs” 😂 | |
| Too much hair gel + 15 year old BMW energy. | |
| I don’t trade forex but just because you get scummy advertisements targeted to take your money you believe all of them are fake wealth ? Because of the small portion of people targeting you you believe all people are scum bags like that? | |
| I don’t say this often but your a clown. Piss off | |
| [deleted] | |
| Abit late but I agree for the most part. I get those ads all the time too it’s annoying. For someone who’s new to investing and/or trading it may make you think everything is fraudulent | |
| [deleted] | |
| Well I think one misunderstanding you have is I don’t trade. I know people that do tho. I just buy longterm assets and hold. I don’t like the idea of buying and selling using market indicators. I’d argue the amount of successful traders might be even lower,given that 3-5% make a profit, but most of them probably make a insignificant one. Long term investing and wealth is the way to go in my opinion. Must more attainable and realistic." | |
| It Be Like That,1112,https://i.redd.it/jmwbkpxom6g61.jpg,"litle funny story , a few times ago 2/3 years from now . i was trading forex (i dont no more unfortunatly) but when i went long every time the price goes the others side and if i go short it goes the opposite way , so i was dumb and i did a new strategy , my strategy was if i want to go long then i open a short position and if i wanted to go short i open a long position , the most weird part is that i was on profit more times hahah | |
| Obviously you did not Noot! Noot! at the price properly when you took a long. | |
| I'm here buying both directions and praying | |
| Fucking love this | |
| My account margin is big but my trades are just 0.02 per trade and go for swing XD | |
| Happens most of the time... The price always goes against my trade. | |
| Price better stop playin | |
| Support resistance and trendlines...but low sell high remember | |
| ^nice ^repost | |
| 🎯 | |
| Lol! Exactly what I thought sometimes! You just down now to take a nap you pig! | |
| Me Every time, then I sell, then it goes up | |
| Just buy what I sell, you'll get rich | |
| I noticed Amazon has been steady up since its creation so it'd always be a good idea to buy into it but I know that as soon as I did the company would go bankrupt somehow. My luck is too shit to daytrade lol | |
| Ath buyer gang where you at | |
| They played us like a damn fiddle | |
| Just happened, USDJPY >.< | |
| Trapped in and trapped out - traders worst nightmares | |
| That literally happened to me today. | |
| Forex really isn't that hard or complicated, it doesn't effect me physiologically you just have to find a systematic approach and stick to it. I recently watched a video by the YouTuber Trader Nick where he laughed at someone for saying they made 5% a day, he said that's impossible, which makes me wonder if nick is even profitable himself cause when I don't use my EA on a good week I can make around 20-30% on my account. | |
| stolen | |
| I never traded Forex where should I start? | |
| Is there a good app to trade with? | |
| Anything I should read before trading? | |
| Legit strategy there | |
| So why did u quit? | |
| I wish I was consistently bad at Forex so I could short myself. | |
| Oxyws...just saying..I'm at 234% gains but I kept the faith | |
| The same to me.. in Italy we say ""mai 'na gioia""... | |
| I've done the same with good results. My problem is what Im usually right when I think the price will go up or down but I'm to impatient and jump in at the wrong moment leading to the opposite happening. If I would just wait 12 hours or so my original thought usually is correct. | |
| Pingu 🐧 | |
| Haha the broker is most profitable this way. | |
| What if the low is actually the high 🤔 | |
| xd | |
| The day I decided to buy Amazon stocks Amazon announced that Bezos won't be CEO anymore lmfao | |
| Can you give me an idea of how you trade? Because I've tried a few strategies during long periods of time, and have worked on behaviours too regarding how others trade in the markets, and have gotten no where. | |
| the reverse uno card on the foreign exchange | |
| i started to be a litle in profit but my psychologie was lame , and i was to anxious every time etc etc i prefered stopping for my health but if you are not a bitch like me i hope you never quit | |
| that's great man hope you get much more of thoes hardly earned tendies | |
| Pi pi pingu pingu! | |
| I simply trade SMC on the lower tfs, like 5 minutes and under | |
| This is the one thing that's been fighting me all the time. Plus my depression and anxiety. I might give this up so I can stabilize my feelings first. | |
| if you want less stressing and continu do the thing you like (am talking about trading ) stock is much much more less streesing | |
| Just parroting what the other guy said, basically. | |
| I started stock and crypto recently and it is so much less stressful that I've been contemplating on giving up forex. | |
| Not trading on margin is a breath of fresh air. | |
| 100% agree , I have ptsd from Margin" | |
| Life becomes different once you learn how to trade. What’s stopping you?,1050,https://i.redd.it/k9b1ozvek7r61.jpg,"At least you know you'll get fucked eventually. | |
| Well not really. Once you truly learn you’ll understand that you shouldn’t be watching the market at dinner hours. | |
| Make a trade, make a trade, make a trade... | |
| Candle stick patterns are way too overrated and predictable. | |
| Myself | |
| Knowledge | |
| Willing to pay someone to mentor me | |
| Sad. | |
| What’s stopping me is I don’t have the money to take classes, and the videos I’ve watched on YouTube only give vague explanations or tell you to buy their courses. I also don’t have any friends who could guide me in a good direction of understanding the stock markets | |
| Richness forex fraud and scam. I cant withdraw my money back | |
| Knowledge. But I’m working on it | |
| You mean I don’t have to bleed daily? Do you have special darts or special stock charts? | |
| I just don’t know where to start!! | |
| the extremely depressive feeling of selling too early and watching the amount you could’ve made go up. i made a few grand in 1-2 weeks, when i could’ve made 10k+. it made me feel the worst i’ve ever felt in my life. (i promise i’m not a greedy person) something must be wrong with me. | |
| Haha! That cracked me up. Amazing! | |
| I like how this is the second top post after [this one](https://www.reddit.com/r/Forex/comments/kkvh5b/not_as_romantic_as_you_think/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) | |
| 🤣 And today's comment winner is... | |
| ... I hate being bottom every time | |
| Most deserved award | |
| Pictures are then swapped when that happens | |
| Cuz you are emotionally weak. Period. | |
| just enjoy the meme | |
| My dinner hours are not the same as yours | |
| I try to close my forex positions before lunch time. Frankly my trades work well during the overlap of eu and us markets. After the eu closes, ill probably only have 1 or 2 opportunities to close a position after 1 pm. Est. | |
| You must not trade Asia | |
| 🤓 | |
| Not necessarily true. People could trade during the night | |
| I’m doing that for breakfast, lunch and dinner, sir! | |
| Predictable is good... Please OP don’t listen to random people on Reddit, do your own research and form your own opinion. | |
| What else do you suggest to use? | |
| I'm a complete beginner fyi | |
| Is meme. Not supposed to be taken literally no matter your opinion on candlestick patterns. | |
| Predictable is good when trading | |
| Ok, but why are you coming up with candlestick patterns at all? | |
| What steps have you taken towards acquiring it? | |
| Let’s talk about it,bet I could squeeze out some time. | |
| Send me a DM | |
| Good to know | |
| Start by learning,I could help you with that. | |
| Did the market hurt u? | |
| Just don’t cancel dinner to trade. Can’t think straight on an empty stomach 😄 | |
| All the volatility is early. I stop day trading by 10:00 EDT. | |
| Any session gives different opportunities why you should be limited in that aspect? | |
| Statistically the worst session to trade. | |
| I cant trade asia for the life of me. | |
| I don’t know anyone who traded specifically using candle stick patterns and is profitable long term | |
| [deleted] | |
| How so? | |
| The majority of users I’ve seen on this forum trade using the same methods that are taught on YT and they wonder why they’re not profitable long term. As I just stated in another post, you could have a below 50% W/L and still be profitable with the right money management. To have a winning edge over this multi-trillion dollar market, you need to be unpredictable, not predictable. | |
| Ok let’s gooo | |
| Lol true | |
| 😂🤣 | |
| 🤷🏾♂️ | |
| Yes candlestick patterns alone aren’t going to get you far, in combination with indicators and order flow they can go a long way. 90% of traders are never profitable anyways, regardless or chart type or amount of indicators. It’s all about increasing the probability of a trade and candlesticks most certainly can assist with that. Charts today and from 50 years ago look the same and yes patterns do assist in trading. | |
| I highly disagree from experience. | |
| Any real successful trader don’t go around providing their opinions like that to others, at-least not in the way you presented it, telling someone to go to a YouTube video rather than articulating it yourself. lmaoo. | |
| You say you also don’t know anyone who trades using price action alone, may I ask who are these ppl you know? What’s their success rate, win-loss ratio? | |
| I trade price action alone with minimal indicators and use wicks and pin-bars for my stops, I can definitely well say I’ve been doing really well. | |
| Just because all you see are white swans 🦢 don’t mean black swans don’t exist. | |
| Confront your assumptions. | |
| I said that once and I’ll say that again: NNFX, together with ICT, are responsible for brainwashing and ruining an entire generation of traders. The success rate of NNFX traders is equivalent to the one of any other trading style, which you can clearly see by reading their Discord. | |
| Lol huh | |
| Predictable, consistent trading opportunities is what you look for in the market. So yes, you want to find predictable trading opportunities | |
| ..... you as a trader need to be unpredictable...... but the stock itself needs to be predictable otherwise your just guessing or Manipulating....... either way your two cents is not even worth the cheapest penny stock on ANY public forum..... (FYI my opinion is worth even less but I felt the urge to post useless info and be argumentative like u) 👍 | |
| My point was only that the meme is about plain candles, which are just a neutral visual representation of OHLC price values. There is no link between candle usage and (un-)profitability. | |
| Candlestick *patterns* are a totally different beast only you came up with. | |
| And I don't understand your last point about predictability at all. Are you really caring about whether YOUR actions are predictable? Why? Nobody cares about what you do in the markets. | |
| My job is to predict (yes, of course, *predict!*) the actions of those who move the market. | |
| Candlestick patterns and indicators LOL! | |
| If I sat here and “articulated” myself in that post, I would be here all day typing out suggestions. I simply don’t have time for that.. he is a complete beginner. A YouTube video is much better in every way. Majority of people are visual learners and a video would be of much better service then typing out paragraph after paragraph. I wouldn’t know their statistics because I don’t ask for them but I can definitely say with confidence that they’re not profitable annually. | |
| I would ask to see evidence to support your claims of being profitable but every time I ask for this, no user provides and argues instead. I provide proof multiple times over and over again of an algorithm being more profitable then price action long term and I will stand by that. I’m not arguing that you’re not a profitable trader using price action but you could be MORE profitable using an algorithm with multiple indicators. It takes me 15-20mins to make my trades everyday.. I’m sure you’re sitting in front of your computer screen for hours on end waiting for a setup or waiting for an alert to go off. I don’t have to do that. | |
| I bet you also think the banks don’t move price? | |
| I disagree with this. I used to trade the way everyone else trades until I switched and found this works a lot better. You simply have not put in any effort or time or you would’ve found it to be more useful as well. | |
| What do you use instead? | |
| Looking back at you post history you use both candlestick patterns and indicators. So you must be one of the ones who’s not profitable long term? | |
| Lol you know he’s a beginner, yet want him to start off by creating ‘algorithms’. | |
| Also, I don’t need to sit in front of my screen all day, I swing-trade and cross correlation and commodity currencies provide more opportunities that most might think. | |
| Lastly, it’s bold of you to assume everyone here is trying to get rich or make FX trading as their full-time job. | |
| I take my profits from FX and re-invest them in high growth equities and value investments, and other misc. investments not relative to the market better ROI for me personally in the long-run that compounding back into FX. Again, my own personal preference. | |
| Everyone is different, and it takes a certain amount of passion, quantitative knowledge, expertise to get into algo, but then again to each their own, for all you know you’re providing advice on trading using algo to some 17yr kid that got their parents to open up a brokerage account for them, not saying it’s the case here, but I’ve seen it happen from some of the posts others have made on this sub. | |
| Responding to you is worthless. I answered your questions and you have yet to answer mine and provide proof of profits. | |
| Enjoy the rest of your day/night sir and good luck with everything. | |
| I don’t gotta provide proof to some random guy on the internet I’ll never meet a day in my life, who are you to me? lmao, just know algo ain’t the only way to make profits so don’t bash others strategies just because you have a diff opinion. | |
| Goodnight lol. | |
| I never bashed anything. You could have a below 50% W/L ratio and still come out profitable if your money management is right. Putting this guy on the right track as a new trader instead of trading on 15mins TF and using patterns is something every new trader does. | |
| Also you don’t have to show any proof, as you stated. But I personally wouldn’t take advice from someone who is not profitable and avoids simple questions such as the bank one. This is not stocks, this is completely different. | |
| Lol yeah but anyone can build good trading strategy through risk management, good psychology and patience. | |
| It’s worked before AI’s and algos were created early 1990’s - 2000’s. Ppl have been profitable even before indicators and back testing was ever a thing. | |
| Not everyone can build an a solid algo that can adapt consistently with the market, as it’s highly quantitative. | |
| Just saying, if you can’t even trade the traditional way and be somewhere successful, I highly doubt going straight into algos will do you any good. | |
| I highly disagree with this statement. If I was a new trader and I purchased a bot to trade for me, I wouldn’t need any experience besides a tutorial on how to use the bot. I also disagree with anyone can build a strategy that easily as it takes time. It took me months to find good indicators because most of them are shit and I’m still in search for better ones. You need specific indicators that go well with your specific algorithm. | |
| Lol you make it seem like making algorithms are easier than what they are though. | |
| But ppl in r/algorithms and r/algorithmictrading would argue otherwise.. even they still have a difficult time making consistent profits and many of them are Msc and math majors. | |
| Of course those subs are relative to equities, but same concepts of difficulty. | |
| Making the structure for an algorithm is easy, finding the correct tools is hard. I told you it took me months to find them and I’m still continuing to search so I’m unsure what you mean by me making it sound easy. Your major has nothing to do with it.. | |
| Like I said, I’m not disputing that algo doesn’t work, I’m just saying that from the basis of the original argument that trading using price action also works as well. | |
| I work as an equity research analyst but have friends that work in Sales and trading.. cash equities, FX, derivatives, commodities desk etc. you name it, they all scalp, day trade, swing, carry trade all on the side as a hobby, and although some do use algos, most don’t and are still pretty successful traders. | |
| Again not disagreeing with you, but just remember that your advice is based on the merit OP will actually know how to build a good algo. | |
| To each their own. Just because it works for some doesn’t mean it will work for others and vice-versa. For me, I’ve tried it and it just wasn’t my niche, I prefer the good old traditional method, it’s a hobby because I like trading, applying algos takes away from the manual aspect and that defeats the purpose for me. | |
| Just remember that when providing advice to anyone in general, that it’s never about what’s better and what isn’t, what works and what doesn’t.. but rather the success is based on the merit that this individual whom you don’t know can learn, understand and apply the method and many other factors that must be taken into consideration that is way beyond the scope of this current discussion. | |
| I won’t be replying back cause I don’t have the time to consume on going back and forth just to prove a point to a stranger on the internet. | |
| Just remember again, to each their own and there are many ways to be successful in trading asides from building algos, which inherently, again, depends on that specific individual as well. | |
| Have yourself a good night and happy trading! | |
| Well said sir. | |
| Good luck and enjoy the rest of your night." | |
| 𝙋𝙧𝙤𝙛𝙚𝙨𝙨𝙞𝙤𝙣𝙖𝙡 𝙩𝙧𝙖𝙙𝙚𝙧𝙨 trading against the trend..,1001,https://v.redd.it/5c7f0nu9b2g61,"[deleted] | |
| So this is how I blew up my account | |
| How does this not yank their suit off? | |
| Lmao; at first we are like yeah this reversal setup is great, then some bank goes on with its business and claps all retailers with the normal trend. | |
| This was easentially what friday last week felt like. | |
| Its more fun to do that naked | |
| Melvin capital watching GME be like | |
| 😂😂😂😂 | |
| pro trades against loss | |
| I think a Tsunami would be more apropiate | |
| I was hoping this was going to end with | |
| ""Amateur traders trading against the trend"" | |
| The swimmer in green is me opening a buy and sell in one pair and then waiting forever as price does not move so I just sit in the middle with -+$0.01 P/L the whole time. | |
| I'm not losing and yet I'm not winning... | |
| just learn institutional trading :p | |
| I have a 100% win rate with counter trend trades. 3/3 ain't much but still 100% win rate. | |
| Very good ! | |
| if the professional one is doing this, we should have learnt something from them. This is a great lesson, isn't it? | |
| u/savevideo | |
| trading counter trend is the way to go, stop listening to gurus who tell you trading reversal is bad and why u should just follow the trend, u buy the dip or you're late | |
| Almost correct!! My account get sucked by pump and get stuck under water.. can’t even come up!!😩 | |
| Profit is profit! | |
| I hate the feeling....:) | |
| Did you want it to? Lol | |
| As a swimmer you tighten your stuff so it doesn’t come off. You normally encounter the most force on impact so it’s the technically the same force as a regular pool dive and swim | |
| Friday was NFP day , it was expected | |
| ###[View link](https://redditsave.com/info?url=/r/Forex/comments/len31t/𝙋𝙧𝙤𝙛𝙚𝙨𝙨𝙞𝙤𝙣𝙖𝙡_𝙩𝙧𝙖𝙙𝙚𝙧𝙨_trading_against_the_trend/) | |
| --- | |
| [**Info**](https://np.reddit.com/user/SaveVideo/comments/jv323v/info/) |  [**Feedback**](https://np.reddit.com/message/compose/?to=Kryptonh&subject=Feedback for savevideo) | [**Donate**](https://ko-fi.com/getvideo)  |  [**DMCA**](https://np.reddit.com/message/compose/?to=Kryptonh&subject=Content removal request for savevideo&message=https://np.reddit.com//r/Forex/comments/len31t/𝙋𝙧𝙤𝙛𝙚𝙨𝙨𝙞𝙤𝙣𝙖𝙡_𝙩𝙧𝙖𝙙𝙚𝙧𝙨_trading_against_the_trend/) | |
| [deleted] | |
| NFP big cuck times indeed | |
| Huh?" | |
| It is what it is,960,https://i.redd.it/2017n6w9ni751.jpg,"“Yes everything’s fine. BTW you don’t have a college fund anymore” | |
| Trade. With. The. Trend :) | |
| Twist. He's a short seller | |
| This trading style looks aids | |
| Never trade live until you have the basics down and you're making consistent profits on your demo acc. | |
| No technique is 100% perfect and it takes multiple trial and errors before you can implement a technique 100%. | |
| Don't be bummed about losses and don't get greedy. It is what it is. | |
| 1:1 r2r | |
| Fucking gold, is what this is. Good meme. | |
| 😂😂😂 | |
| Lol going long on downtrend | |
| too real | |
| 😂😂😂😂 | |
| Lmaoo | |
| lmafooooo | |
| Pain. | |
| Is that a yes? | |
| Ah yes, shamelessly stolen from WSB | |
| What indicators is he using? | |
| You should never trade with your real money if you don’t have skills and knowledge. Make sure you have completed your learning part and then jump for live trading. | |
| My man is trade Krone at 3AM send help | |
| Lmao | |
| LOL | |
| It's hilarious. | |
| A counter trend entry is the most professional form of trading trends. | |
| The best time to enter a trend is when it starts. | |
| Hahaha! Facts! | |
| THIS time it will reverse | |
| 😘 | |
| It's stolen from r/wallstreetbets | |
| It is what it is* | |
| 50 & 200 EMA | |
| [deleted] | |
| Counter trend is fine but from what I've read and seen in forex the large institutions trade ranges mostly using mean reversion and heavy confluence zones to find trades as they only need to secure 50 pips to make what I do in a year lol | |
| Trade without discretion. Know your SL, don't set a TP. When price impulses you should be looking for the counter trend.. don't confuse counter trend with ascending or descending channels... those are signs of reversals. Strong impulse candle but a long wick- price will most likely range for a good while. I trade only the 1h. | |
| there is no such thing as a ""sideways trend"". | |
| You are correct. 50 pips is my target and its actually quite simple with a few specific pairs. Sometimes the entry is actually right at the beginning of the trend so I could actually hold for way more than 50 pips. But depending on lot size and leverage 50 pips is plenty. Especially at 1:200 leverage | |
| Lmfao | |
| I think he mean consolidation | |
| it's called ranging. | |
| yes, probably" | |
| "Hey bro, how you been",923,https://i.imgur.com/AB3zML0.jpg,"Is this MLM type stuff everywhere, a lot of ppl at my college are into it, surely they’re all getting scammed right? | |
| Ask to see a portfolio and they instantly get defensive | |
| I used to be involved in MLM couple years ago, now I’m trading alone full time ... looking back at that journey always makes me laugh at how I used to actually try to recruit people. | |
| The only thing it was good for was it introduced me to the concept of day trading, once I understood the potential behind it, I just fell in love... and it always makes me sad to this day seeing others try to recruit, knowing that they can be so much more if they just took the time to at least try to learn how to trade😞 | |
| I actually encountered my first MLM a week ago and went on a bit of a rabbit hole looking through the content. It’s stunning how they are able to recruit people, if I were desperate for cash had never heard of forex or came across baby pips I would be inclined to give this a shot. The thing is they aren’t teaching you shit on how to trade they videos only talk about “being a boss” and “taking control of your life” they do a great job of marketing to the disenfranchised I will give them that, but yeah the MLMs are trash. | |
| Nice meme. Take my upvote. | |
| Where do I invest :P | |
| MEME, on the weekend abiding by the rules, and funny at that.... Reluctant upvote. >.> | |
| 😂😂 | |
| 😭😂💀 | |
| MLM Bro Bots taking over Forex now! | |
| Don't miss your chance of claiming free stocks! Sign up, open an account and make your first deposit and get 4 free stocks! 2021 | |
| ”Is it good time to buy now?” Or you sending some analysis and opinion in one group so everybody wants to go blindly to my trades which i never took smh | |
| Fitting that that last line was also mentioned by Harley Quinn in r/BatmanArkham | |
| I’m with Epic...there are some people out there that just want to recruit and never help ya. My small group we actually trade trade..I show my profits and my losses.. but yeah I don’t do the recruiting thing..I like trading... so far I have about a 65-71% win rate. | |
| I joined astrofx online course and paid 2,000$ for it. What a fucking waste of money | |
| Mlms have their place, but I believe it is nuts for them in the investment and trading world. That being said a forex mlm is what introduced my to forex and got me my first 10k+ per month income before I could do it on the charts alone. So, I am thankful for it and now happy not apart of them. Lol | |
| Only 5% people or less make some good amount, I am guilty of being scammed by these guys , literally they glorify money and worship it they tell you to make insane goals, most crazy thing of all they say-"" everybody else wants you to fail so just dont listen to them"". | |
| My advice if somebody tries to get you into one of these just run like crazy, you might as well get hit by a truck, but don't ever fall into this shit hole. | |
| Boom. MLM in a nutshell. | |
| [removed] | |
| Yup this shit is a low key epidemic for the college age kids. My buddy goes to college in Florida and tried getting me into IM Academy which is a forex education/signals/“mentorship” platform. Every single person in my buddy’s group were out in 4 months or less. I took one look at it and saw it for what it was. He pressured me to join literally guaranteeing I wouldn’t loose money. Told me he’d pay me back if I ended up loosing. I got the account and issued my refund 3 days later (7 day return policy) because I could 100% tell this wasn’t gonna end well for him. He admit it was a mistake but never fessed up to loosing any money which I’m certain he did. | |
| Pretty much all of them are getting scammed. 2 of my Friends have been scammed out of $1200 and $1500, but they don't wanna leave because they believe they can make that money back \[Spoiler: They can't\] | |
| While they are getting conned out if their money. If they learn to be successful at roping people into the MLM then they learned a salesmanship skill. | |
| Not a bad skill to have when you're selling a actual good product. | |
| Not really defending mlms just playing devils advocate I guess. | |
| Only 10 percent of people who join MLMs make money, and of that 10 percent, only 1 percent make good money. Anyone who makes money usually makes it off of other members instead of actual customers. | |
| Edit: The 1 percenters will make hundreds of thousands or millions of dollars. They are often used as the example to get people fired up. The rest of the 10 percent will break even or make a few hundred bucks, honestly not even enough to make it worth their time. The other 90 percent lose money. | |
| I honestly don’t know why MLMs aren’t illegal yet. | |
| For every 100 scams you find one decent trader with a good community behind them either solid fundamentals to make money I'm lazy I invest in a community that trades for me and I make passive income no recruiting bs.. when its real you don't want many to join lololl | |
| Then they say that they’ll get you on a call with their mentor who will be able to answer all your questions. Spoiler: They do not answer your questions. (At least honestly) | |
| Definition of when life gives you lemons, you make lemonade. Good job getting out of it and making a career out of it. | |
| You made 10k plus off forex? | |
| What is mlm | |
| ##This Is The Way Leaderboard | |
| **1.** `u/Flat-Yogurtcloset293` **446784** times. | |
| **2.** `u/max-the-dogo` **4662** times. | |
| **3.** `u/ekorbmai` **4286** times. | |
| .. | |
| **2.** `u/max-the-dogo` **4662** times. | |
| --- | |
| ^(^beep ^boop ^I ^am ^a ^bot ^and ^this ^action ^was ^performed ^automatically.) | |
| Dude! They never say how much they make! the ppl I know are too embarrassed (or proud?? )to admit they’re getting played, some make money but honestly no idea if it’s more than a part time job. The thing that gets me is how they act so elitist about it. Also know some people who been at it for years, just blows my mind | |
| It all depends on who your mentor is but yes there’s some hella cancerous groups/“mentors” out there | |
| Dam this is crazy because I have had a great experience with IM Mastery Academy. Problem is alot of young kids have never been through obstacles and don't understand that this is the largest financial market in the world so it has to be taken seriously. There really is some amazing traders but to many fools out there I agree. | |
| Low key I don't even tell people I'm apart of IM just because Of all the hate it gets, but I mean it can't be a scam lol I've worked construction for 12 years and have been trading full time for 13 months. | |
| Honestly I'm at a point where I can quit now as im self sufficient but I have alot of friends in my town that I met and although some of them still be borderline sounding scammy when they talk lol overall MLM isn't bad its different and you may not believe in a product. | |
| But what isn't a scam? My old $55 an hour union job has 6 figures of my retirement that I can't take out untill I'm 65 because they are trading it in these markets! lol WTF gimmie my shit so I can buy some bitcoin! In the end I've learned to be open minded about opportunities. | |
| Easy way not to get scammed is if someone is presenting any opportunity to you. Ask them if you can meet at thier house. Trust me no one will ever scam you then cause you know where they live. | |
| I found out about IM Academy off some guy on YouTube. I was pulled in by the idea of jt being like a college and you pay tuition. I wasn’t gonna recruit nobody but is IM academy really that useless to those wanting to be a successful trader? Is it basically what baby pips or something might cover or what? I want to get educated on how to be a successsful trader one way or another, whether it’s IM Academy or WSA cue banks’ academy. I am a total noob but I see the potential in the market and in myself for sure. I started with my demo account... lost nearly 10K slowly over the first 2 weeks and then finally something in my head clicked and I made it all back plus some within 1 week of good trades. Something similar has started to happen now with a live account that I had loaded $700 into, lost $150 in 2 weeks and then started to go back to price action trading and using MACD, RSI, high timeframes, trend lines, etc and now I’m only like $70 away from getting back to my initial 700 in a week. | |
| Absolutey. Hell I learned a lot just sitting through MLM seminars. I’ve helped steer a few friends clear by attending with them and I’m always picking up on the different ways they are able to manipulate the conversation it’s honestly fascinating (and a bit infuriating) watching an expert MLM recruiter do their routine. | |
| Oh yeah for sure there are a few good people out there. And you’re right that the recruiting stuff is the biggest red flag, apart from the tier systems they give to make people feel important (super Manager, tier 3 double black diamond manager etc) lol | |
| I'll connect you to someone more comfortable with lying through their teeth. | |
| This is how I stopped talking to my cousin sadly. He hit me up one day about an “opportunity” and we had a zoom call with his mentor trying to get me into IM. | |
| I full time day trade now | |
| Multilevel marketting. Aka a pyramid scheme that might not be illegal because they have a real product too. Often they want to sell you a 'membership' in addition to selling you the product, and the incentives are built as a pyramid scheme with prices disconnected from either production cost or fair market value. | |
| The people at the top of the bigger MLMs make a shit ton of money. | |
| Bro one girl I know tried to get me into her IML group and showed me that someone off her team “made” 10k, turns out that shit was on a demo account but of course me being new to trading I was blinded by that shit and joined, but thankfully she moved teams the week I joined so I got a refund and started researching the company and found out I dodged a pyramid scheme. | |
| I found out about IM Academy off some guy on YouTube. I was pulled in by the idea of jt being like a college and you pay tuition. I wasn’t gonna recruit nobody but is IM academy really that useless to those wanting to be a successful trader? Is it basically what baby pips or something might cover or what? I want to get educated on how to be a successsful trader one way or another, whether it’s IM Academy or WSA cue banks’ academy. I am a total noob but I see the potential in the market and in myself for sure. I started with my demo account... lost nearly 10K slowly over the first 2 weeks and then finally something in my head clicked and I made it all back plus some within 1 week of good trades. Something similar has started to happen now with a live account that I had loaded $700 into, lost $150 in 2 weeks and then started to go back to price action trading and using MACD, RSI, high timeframes, trend lines, etc and now I’m only like $70 away from getting back to my initial 700 in a week. | |
| > Problem is alot of young kids have never been through obstacles and don't understand that this is the largest financial market in the world so it has to be taken seriously. | |
| Or they’ve got a different skill set. The biggest problem I have with MLMs is the inherent conflict of interest from those endorsing the company. So many MLMers put so much time and effort into marketing the lifestyle. Business fundamentals & pragmatism always seem to take the back seat. It’s no wonder so many fail in these heavily marketed industries. | |
| Most people have no business touching MLMs with a 10 foot pole. Yet “unmotivated” people who “don’t put in the work” keep finding their way into these businesses! MLMing has existed for over 100 years. How does this keep happening? If the business model could exists without fools/weak people why on earth is it always attracting people who weren’t able to put in the work? | |
| Call me a conspiracy nut, but I think these schemes are built to prey on these “young kids” you talk about. Look at the marketing. It’s always embellished. It’s always suggesting success. It’s usually targeting the newbie. You CANT have it both ways. If it wasn’t for the clueless kids who are being enticed by the prospect of retiring early and vacationing while they work, you wouldn’t have that revolving door of new money that pops in to pay for your bonus. - Yes, your consistency can pay off as you get more guys who are willing to stick it out with you and can afford that risk. But it’s not feasible for most people (even many of those who are brilliantly business minded). | |
| I’ll cut it off here. Sorry for giving you an earful. That’s great you learned forex with IM Academy and saw success, but I despise MLMing as a business model. I don’t care how great the product is, MLMing in its current state does not help people in the way you may want to believe. | |
| Thank goodness for your comment. I had replied to someone talking down on IM academy with: I found out about IM Academy off some guy on YouTube. I was pulled in by the idea of jt being like a college and you pay tuition. I wasn’t gonna recruit nobody but is IM academy really that useless to those wanting to be a successful trader? Is it basically what baby pips or something might cover or what? I want to get educated on how to be a successsful trader one way or another, whether it’s IM Academy or WSA cue banks’ academy. I am a total noob but I see the potential in the market and in myself for sure. I started with my demo account... lost nearly 10K slowly over the first 2 weeks and then finally something in my head clicked and I made it all back plus some within 1 week of good trades. Something similar has started to happen now with a live account that I had loaded $700 into, lost $150 in 2 weeks and then started to go back to price action trading and using MACD, RSI, high timeframes, trend lines, etc and now I’m only like $70 away from getting back to my initial 700 in a week. | |
| I agree. I'm in IM academy myself and so far i didn't make and plus because I'm still learning with a demo account. I want to start a ftmo Challenge. Anyway the education you get there is really good and you can trade live with profitable traders while they educate you. It also helped me get a better mindset and I met a lot new people around my country who i also met in real life. | |
| Many people think these kind of academies are just plain scam but well..it's easy to assume that if you don't make your own experience. Almost everything is a scam these days. That's why actually legit academies or such get an instant bad reputation | |
| Lol...yes bro they literally use demo account to show people that they are making money, which in fact they are not. They only push network marketing and not much the trading, I joined last May and exited two months later it was total crap to be honest. | |
| No real meaningful trading knowledge or experience will ever come this easy. Complety disregard anything that promises to make you money, because no one is ever going to tell you with very rare exceptions like mentors or good teachers. It all has to be earned. | |
| Teach yourself my man. Information is EVERYWHERE. I don’t trade forex (fuck that). But I started trading stocks with $500 shortly before the restaurant I used to work for went out of business. I ended up living completely off the market for 8 months. I only started working again because I got tired of having TOO MUCH free time on my hands and i was bored a lot. | |
| On top of paying all my living expenses, rent and bills with the market, I also bought a new motorcycle so I could give my old one to my little brother, payed my girls schooling off, and upgraded all of my music equipment. | |
| I work now to keep myself busy, but I still trade at least 3 days a week. Love it | |
| Honestly I get what your saying and everything makes sense. Its just these markets have really opened my eyes up to how this world really works and also being mindful of my emotions. I trade smart money concepts and use no indicators just naked charts (no im better than anyone) so after watching so many candles print and price returning to the same exact spots. | |
| In every freaking market, Metals, indices, commodities. Crypto currencies, stocks, ect. I realized everything is a scam lol. Thats tough for alot of people to swallow because now we are entering into conspiracy talk and thats when people start to discredit information. My point is literally the entire world is Scamming us so when I hear the word oh thats a SCAM I laugh because literally our whole life was a scam and we are arguing about MLM. | |
| I appreciate you guys reading I enjoy having some conversations where you have to put your thinking caps on. | |
| Put it like this IM Academy is like a Car Company for example FORD, no matter what, your going to have people that say FORD sucks because they had a bad experience with one once or their friends don't FORD so they follow the crowd. | |
| Now each FORD dealership has different personal working there, you may have a bad hostess at one or bad mechanics at another. | |
| Same with IM Academy, you have people that got scammed by a MLM company so no Matter what they will say its bad, also even if your in IM it doesn't guarantee that your team will be good or even enjoy trading. | |
| I'm blessed that the person that invited me, actually lives by me and is an educator for the company so trading is a everyday thing with our team. | |
| To be honest no Matter where you learn just be careful when people say its easy, or you can learn quickly, or they have a master strategy. At the end of the day no one here can predict the markets, so risk management, risk to reward and controlling your emotions are key. | |
| Yeah I figured that out! I think just reading a bunch of the best books on trading and taking notes will be better than anything else for now. I would love a mentor, I really would. | |
| I been fucking with crypto. I been trying to learn everything about every market. stocks, forex and crypto. I’m loving the shit out of crypto at the moment it’s like the coolest of all the brothers who is banging all the bitches the other 2 want to bang 😂😏 but yeah. I would love to get into stocks once I make this bag. | |
| Did FOREX for a few months. That shit is intense. Still not consistently profitable. | |
| I appreciate this more than you will ever know… | |
| Yeah it’s understandable that it worked out for you, it’s got to work for someone to be successful. But I’d wage on you just having a better knack for this, or to put it frankly you might just be smarter than some of these other people. | |
| What gets me is how they prey on the dreams of poor/ people less savvy to the market with predatory marketing through influencers etc. And then drip feed glimmers of hope to them that they will one day be successful. | |
| Also you’re right in that everything is a scam in this world however, this effects a disproportionate amount of people who are desperate, young or in lower income groups. | |
| What do you know about statical inference? | |
| Damn, you’re lucky and thank you for such a easy to understand example. That’s what I’ve come to find out on my own as well, that there is no real holy grail to trading successfully and that you can’t 100% predict what the next move in the market will be so anyone saying they can do it, CAREFUL with them. In fact, it’s best to just outright ignore anyone making such claims like that, from what I’ve come to realize. There are indicators and trends to help be right more often but still does not guarantee you’ll be making a good trade decision. It’s like you said, risk management and such. Controlling emotions. Thanks for your comment again. I plan on most likely enrolling in a few different courses online over the span of my Trading career but only from those people or organizations who can prove they’re actually making money and with real proof to back it up. No demo accounts, no insane claims. | |
| Be very careful, you are right at the stage where you know the terminology and strategies, but you can't understand the game yet. You are diving into a deep ocean with alot of sharks and if you don't learn to tell the difference between what's real and what's a scam, you will end up thoroughly fucked. This included books. Start asking yourself what the book wants from you(even if it's just the $19.99 you paid for it) and what you can learn from that. | |
| I can’t get into crypto. I mean, I could if I wanted to. But there’s so many things from wallets to exchanges to this to that. Plus they are on a 24/7 market and they are wildly volatile. Respect though. | |
| I daytrade stocks and options. I’m generally profitable. I actually lived completely off the stock market for 8 months without working just because I could. Only started working again because I was bored and my friend said he could get me a good job working with him in a field I already used to work in. | |
| Now I just do a few hours worth of work while him and I call trade plays to each other all day. It’s 25% work, 75% joking around, hanging out, and trading. Plus overtime lmao | |
| Yea I have seen people with kids and struggling be sold this dream almost making it seem like it will for sure work for them without truly being transparent about the markets. I myself sold the dream in the beginning to my friends because I was excited and wanted my friends to join so we can practice all night together but most thought it was a scam. | |
| Yes the only good thing about IM is they are not charging you thousands of dollars up front so literally If you were getting ""scammed"" your out $170 and you can cancel every month no questions asked so thats a plus. | |
| Damn... Thank you." | |
| it is what it is,895,https://i.redd.it/d6w18l0rfg371.png,"for an arrow to fire it needs to be pulled back first don’t be discouraged :) keep going u got this | |
| Have a growth mindset. | |
| For example: | |
| Thinking “This is too hard”. Replace with “this will take time and effort”. | |
| Thinking “I’m not good at this”. Replace with “what am I missing?”. | |
| Up 3%, down 5%, stagnant in the red, climbs back up and more to 10%, then a bad move brings me back to even. That's my experience so far after 2 months. | |
| [deleted] | |
| Took me 7 years and 5 accounts to be profitable, it is 30% skill 70% mental. Always use fun money and start small, don't dump 5 or 10 grand into an account just because you're doing well a few trades in. Bust a few accounts, get a feel for the market, learn some risk management, and maybe set a stop limit on your entire account, say invest $1000 but withdraw if you lose 30% so you can try again with 1k in the future with just adding another $300 so you can get use to losing money (because you're literally going up against a heap of people trained to take retail money). | |
| yea i got bopped this week not even going to lie however i figured out why i over traded/over risked & as a result i took a 20 dollar loss overall, my strats, my analysis is correct, me marking up charts, putting up zones has gotten way better i've only been trading for 8 months so progress is progress i know the money will come with more time but small gains is the key for me | |
| Yes. DEPRESSION | |
| That is so true | |
| even after 5 years of trading you think uou got it figured out | |
| I'm continuously learning how to cope with depression while getting my lost money back without further hurting my pride and relinquishing my soul. | |
| Hahahahaha thus us hard | |
| Have any of you ever been interested in going IM Academy? | |
| Keep ya head up! | |
| .km n m,, | |
| lol I said this so many times “learning a lot” 😂😭 | |
| I have never related to something so hard😭 | |
| Lot of thought stopping cliches in these comments | |
| 🤣😂🤣😂👍 | |
| Just keep consistently trading! And learn price actions, it's the best! I found day trading the most difficult, learn how to lose small. Learn when to cut your loses. Also ready the art of currency trading! This changed my life! Wish someone told me sooner! | |
| Wow, this really hurts 😅 | |
| This meme connects all of us. Whether its in the past or in the future | |
| Nah only money lol pride and soul is forever | |
| Haha!! So true !! | |
| Not me. | |
| Literally me for the last 6 months 😂😂 | |
| thanks bro, i agree with you | |
| Yeah that or the string could break | |
| for a tiger to pounce, it needs to crouch first | |
| Thanks for this! | |
| To be honest, that sounds excellent for 2 months, considering most come, blow their account, and leave, great job :D | |
| Bro don’t try to make back what you lost , just simply move forward with your new system and forgot the past. You setting a limit in your brain and once you reach it , you might go back again ... circle is vicious. | |
| Just get the lessons of the losses but don’t think that u have to get it back, that will lead u to revenge trading and you’ll loose more. Mental work is important, work in your planing, am doing a setup now with better plans, luckily I didn’t loose much and I actually made good money these last 3 months with LP and REITs. Am about to test a new setup with leveraged etf and crypto using tight stop losses and using the concept of the spring from Wycoff system | |
| if you trade for the next 20 years, you can get rich... now you have the valuable experience and insights and nobody else has. | |
| small gains will become bigger gains | |
| over risking | |
| over trading is an issue for alot of people | |
| all u need is 1 or 2 trades per day if your in a losing trade close out early | |
| This is what I've focussed on last week, not overtrading and over risking. Immediatly became profitable. Now just learning to trust my analysis as it's correct most of the time. The only problem though, I tend to become insecure when I see the price movement and out of panic I close the position, after the closing I se eprice miving the right way... So now I focus on my patience and everything becomes way better already. | |
| I found most of my problems are psychological. When changing my psycology one by one I will progress extremely quickly, just need to identify it, haha. | |
| Honest question, you've found it significantly worth it? | |
| It's a scam, look up Alwaysmarco on YouTube and see his videos on it. Don't sign up | |
| Remember to diversify as well. | |
| you can tell u have a positive mindset | |
| Thanks dude. It has been a wild ride, that's for sure. The best thing I did to turn around initial declines was wait. I was so tempted to sell when it started going down and those are now my best performers. I have spent a ton of time researching companies too and averaged myself down on a couple. | |
| Yeah someone told me starting out and breaking even constantly for over a year is actually pretty damn good lol. | |
| I agree | |
| LP is what? | |
| Honestly yes I did, you not only get access to Golives with educators in the business that trade with you every day and makes money with you, and also you get access to a lot of different trading strategies so that you can try them and figure which one works best for you | |
| I prefer having that mindset and try to find out why things happened and fix them than believing I can reach the sky with a broken plane. | |
| It is being realistic. | |
| I'm all for being positive but your talk there can be detrimental. | |
| Limited partnerships. Mostly oil companies LP. Such as SHLX and PSXP, etc.. | |
| Ok, thanks for info" | |
| Mystery solved🤔,888,https://i.redd.it/cmw8wyk9au751.jpg,"And I could have blown the whole account if it wasn't for you meddling kids! | |
| [deleted] | |
| Ruh roh shaggy | |
| It's you but a no-neck version. | |
| Clever, love it | |
| Zoinks!! | |
| This is hilarious 😂😂😂😂 | |
| If not for my meddling self, i would have gotten away with that trade | |
| Meme of the year.... | |
| It’s funny cuz it’s true. | |
| I swear, I would have been already funded months ago if I wasn't this much of a pussy | |
| I can’t crosspost, can I borrow? | |
| Thanks mate, u a real comedian. I will of course keep the watermark and forward credit to your r/. Have a good weekend! | |
| Nah man it’s the banks I swear | |
| okay but imma need the template for this | |
| No it's the MM that lose all my money! | |
| It’s been me the whole time | |
| Lol.. more often than not. | |
| Bwahahahaha... fact. | |
| Ha facts | |
| LOL awesome | |
| Lmao pretty much | |
| Can someone give me tips as a beginner on how to trade please | |
| 🤭 | |
| 😂 | |
| You and a couple other millions of people lol | |
| Facts! LOL | |
| 🤭 | |
| Not dat deep bro lol🤭 | |
| Sure | |
| No P, and ill also try to give credit to the original artist on Twitter. Ur welcome | |
| 🤭 | |
| Follow the price. Forget about news/fundamentals. Price will always go where it's supposed to whether manipulated or not. Price action is the best | |
| What naive said, and I can't tell from experience, manage your risks, and it's better to exit a trade with a small loss then get a margin call. | |
| Read what naive said over and over, write it down hundreds of times before you dive into the rabbithole. Most the shit you learn in the start us bullshit you dont need or that will ruin you | |
| PM ME | |
| Like a true warrior" | |
| "When in doubt, refer her to a signal group.",887,https://i.redd.it/uwaim01xoiw61.jpg,"Great, now she needs $80! | |
| That's where USDJPY belongs up over 120. Yen strength is a bummer to everyone, even Japan due to their export economy. | |
| These are my kind of memes😂😂😂 | |
| ""I need $40 net of income taxes"" | |
| Damn I understood that | |
| Repost | |
| 1:1 risk reward. | |
| I need $40 | |
| Buy for 40 pip win. -40 | |
| Buy for another 40 pip win. -40 | |
| Buy for another 40 pip win. +40 | |
| Buy for another 40 pip win to break even. -40 | |
| Buy for another 40 pip win. +40 | |
| Buy for another 40 pip win to break even. -40 | |
| Responds to girlfriend. ""I need $80"" | |
| Bad rr kevel.. 30:40 pips | |
| Bruh | |
| [removed] | |
| This gets posted like every week lool | |
| Can anyone link me to any signal group | |
| can someome tell me more about forex? Dm if necessary :) | |
| Lmao, this hit me different | |
| I place stops on my phone but it just ignores them | |
| 😂😂😂 “Teach’em how to fish…” | |
| -$400 damn lmao | |
| hey, psst | |
| ​ | |
| *its a meme* | |
| It works like every other instrument. You can hold as long as your account / drawdown allows you to | |
| It depends if you are good or not. If you are good it will close when you want. When you are bad it will be closed for you ;-) | |
| If you have the margin they will let you hold it till they have ALL your money. | |
| Didn’t know that, I’ll walk myself out. | |
| you right now: [https://images.app.goo.gl/oGZroqkKCkJt9ADY6](https://images.app.goo.gl/oGZroqkKCkJt9ADY6) | |
| but yeah, it's one of the top posts of all time on this sub, op is BSing if he says he didn't know. | |
| It’s a joke bro. I wouldn’t recommend any signal groups to anyone. Learn your craft. | |
| Go to babypips.com and do the free course, you'll learn everything you need to know to get started. | |
| so true | |
| haha fair enough, I like numbers though 0.0 | |
| [removed] | |
| I love coming on here to read and learn how dumb I really am. Geez. | |
| Don’t go I need more trades | |
| See ya! | |
| I don’t scroll through reddit all day. So no, I didn’t. | |
| Signal groups are usually what non legit forex groups use to market a company. I used to be in one of those | |
| Would you happen to like numbers enough to do some backtesting for me? Free of charge of course :D | |
| as for fees, it depends on your broker, you should check with them. Usually swap fees apply (positive if you’re going short and negative if you’re going long). | |
| Automatic close would only apply in case of a stop loss or a margin closeut (not having enough balance to maintain your position). | |
| :( | |
| ​ | |
| ​ | |
| ​ | |
| ​ | |
| ​ | |
| ​ | |
| ​ | |
| ​ | |
| ​ | |
| ;9 | |
| Cap" | |
| Me after I make $50 in a paper account and think I’m a pro now,848,https://i.redd.it/cypunyhpl7k51.jpg,"Thats exactly what happened to me, i tried working at home and my son is 4 years old. He knows my money on forex( metatrader4 balance) he comes and check and say- Daddy you got lot of money? (I had a good day and 1000$ dollars on gold) i said yes and he goes now buy me this game ( roblox money) next day i lost everything and he goes daddy you still have lot of money? I said no, and he goes Daddyyyyy dont lose that money. You have to be the number one guy like me on roblox. Thats where i got my energy and i know that i cant stop making money nor lose. Goodluck to you all | |
| ...now we're stealing memes from WSBers? | |
| [deleted] | |
| Most of the traders have similar experiences. | |
| Pretty accurate tbh | |
| Hahaha.. Good one! | |
| You need a new monitor, bro. | |
| Reminds of so many people seeing this man with the laptop. | |
| If I had a dollar for every time I had seen this | |
| Demo accounts are good for like a month, throw a couple hundred bucks in and go at it! | |
| Tesla short sellers getting hit right in feels, right now | |
| put the kid's college fund on $ORCL, trust me can't go tits up | |
| Honestly tought i was on WSB until i read this | |
| Lol well I saw this on iFunny | |
| Fact | |
| Lol worst advice ever haha but frankly speaking that’s similar to what I’m doing lmao except I’m doing both at the same damn time paper and live trading on one screen, paper for testing live for executing with tiny quantities a lot of hard lessons learned | |
| Why would u short on Tesla right now lol. | |
| still? | |
| Sir, this is r/forex lol. Anyways, could you explain why you believe $ORCL can't go tits up? | |
| tiktok buyout | |
| Why $ORCL and not Microsoft or Walmart? | |
| https://www.cnbc.com/2020/08/19/tiktok-trump-oracle.html | |
| edit: tossed a coin | |
| Lived in China. The gov just updated list of field of products or services from local companies that could not be sold to foreign countries. | |
| Tiktok delicious algo that everyone wants is one of them. | |
| this explains why my (albeit tight) SL on $ORCL was just hit 😡 | |
| I just lost my childs college fund because of that🤦♂️. Thank god I also put half of it on $BYND. Fake meat for the win! | |
| based" | |
| Dropping My Course Next Week LOL,815,https://i.redd.it/5lwcbzfya5661.png,"Just inverse your own trades, instant profit! | |
| Sadly very true my first 5k in.. | |
| [deleted] | |
| I know this is a meme, but babypips teaches you not to trade the candlesticks alone haha. | |
| I think we’re in the same course!! | |
| me | |
| And here I thought I was the only smart one in the group! My exact trading expertise. | |
| Seems your course is teaching you less than you could learn through free sites like babypips... | |
| 🤣😂🤣😂🤣😂🤣 | |
| Lmaooo | |
| ;)) same to me lol | |
| F | |
| Can’t lose if you don’t sell | |
| goddamit, so painful yet funny | |
| have to laugh cuz otherwise gonna kill myself | |
| 😆😆😆😆 | |
| There are easier ways of learning | |
| This is me! And drooling too, haha | |
| 14k here... but hey I went back to demo for 4 months and am 2 days from receiving my real FTMO account so I’m on the come up. | |
| you lost 5k or up 5k? | |
| I'm gonna report it as being too personal | |
| why | |
| r/whoosh | |
| Margin call | |
| Lost 5k | |
| I'm new to Forex. What I learned from Babypips is that candlesticks alone--any tool alone--is not a good indicator of where price might go. For example, you're watching the chart of a pair, and you're waiting for a point where you'll buy. You see that the market is trending down, and you think it will reverse at some point. A candlestick formation at what you think is the bottom of the trend appears, so you place a buy order. Instead of shooting back up like you think it will because of the candlesticks alone, it continues downward and you lose money. | |
| Something else babypips has taught me is that even if you use multiple tools to predict where price will go, all of them might be wrong haha. | |
| I don't quite understand the point of this sub. Do you mind explaining it to me? | |
| So pretty much it told you the obvious lol.. it can be wrong with a single indicator or with multiple. Learn how to find supply and demand zones and read price action. Fundamentals and everything else are just icing. Good luck boss | |
| Sharing ideas and thoughts about trading in the foreign exchange market. Amongst other things like memes | |
| No I mean the point of r/woosh | |
| I'm a very active member of the forex community, but I've never understood r/woosh, just seen the occasional mention of it | |
| It's for people that completely missed the joke | |
| Ahh, yeah I struggle with that sort of thing a the time. | |
| We noticed | |
| Thank you for noticing this notice. We will note your noticing of the notice." | |
| The Weekend,809,https://i.redd.it/8qy4h6tjvnf51.jpg,"Buy some crypto | |
| Its my favorite part! Forced relaxation. As someone who naturally works alot, its refreshing to have some stress free time. | |
| Am I the only one who thinks w/e is the time to study for nxt week? | |
| Its backtesting day🤷🏻♂️ | |
| I know the feeling, but I try to get a little research done over the weekend. I like to have a plan to start out with on Monday mornings. | |
| Can’t relate lol. Anime time | |
| This was me my first couple months for sure lol. But balance in life is really important to learn to enjoy the time off! | |
| The pool standing pic is too good | |
| I use that time to study more about Forex | |
| Omg! I was literally just like, ok now I don’t know what to do haha. Guess I’ll watch a movie. | |
| Lmao love it!!! | |
| I genuinely hate weekends. I feel so lost. | |
| Literally me rn | |
| The struggle | |
| Crypto markets are never closed | |
| So true.... | |
| lmfaoo | |
| Crypto O Plomo | |
| Exactly, Robinhood allows you to trade weekends, I like Coinbase but it takes a long time for your funds to be available but once you are ready you can trade 24/7 if yo want. | |
| Came here to say this. | |
| What do you mean? You can analyze all the trades you did, test new things, learn about new things, check the market for the next trading opportunities, improve your journal,... etc. | |
| I tell myself do simulation with fxcm and tradingview. But you are right. Taking break is also very important part of trading! | |
| We all do...but still its a great trading meme...just smile and stop worrying about pips...besides theyre just pips lol | |
| Nope. It's just you. You're super special. | |
| It's always anime time for me. Even when I'm trading I usually have an anime playing on one of my monitors. One of the many benefits of having multiple monitors. | |
| Big facts, I’m on my 9th rewatch of code geass. | |
| Facts i been rewatching the asterisk war | |
| Lol | |
| We all do bro! | |
| Its just a really funny meme, lol a lil | |
| By the way im up for the month | |
| OP is talking about the financial markets. Not the ones where you buy fresh veggies. Thought I just clarify. | |
| Thats what i love about crypto, the traditional markets need to get with the times. | |
| Underrated comment 😆👍 | |
| Try Binance get a VPN if you’re in US | |
| Yes, but when you close the laptop, there's nothing open to monitor. | |
| damn man I use to pretend to be special | |
| You should watch Made in Abyss. It's great. | |
| Just finished watching death note. I’m going to give this a try | |
| Speaking of fresh veggies... you’re 🌽 af. Enjoy luv. | |
| 😂😂 I second this since nobody else has | |
| You only need a VPN if your trading the futures, you can still trade the spot markets from the US. I dont know about margin though. | |
| I hate relaxing bruh shits wack everyone always tells me im no fun and to have fun but they are gunna be pissed when im crashing ferraris on purpose haha whos no fun now!! | |
| A friend told me about it like 2 years ago, idk maaan | |
| Yeah fs, let me know if you like it! I can recommend more like it. Also theres 2 nice ones for this season *god of highschool* and a demon king one | |
| Out of the 436 anime I've finished watching Made in Abyss is one of my favorites. So I'd say it's well worth it and yes I've spent too much time on anime xD. | |
| I most definitely will. | |
| Them fight scenes in god of high school are EPIC! I feel things are a bit rushed tho but what the heck. I still have high hopes for it. | |
| Gonna be honest not really too hyped about the new anime this season but the returning anime shows have been really good. | |
| What about | |
| \-Deca Dence | |
| \-Yahari ore no seishun love comedy wa machigatteiru season 3 | |
| \-Enen no shouboutai: Ni No Shou | |
| \-Shokugeki no souma: Gou no sara | |
| Those are decent ones too. Personally I'm enjoying Deca-Dence the most so far. | |
| Ayyyy i see you,Ill probably give it a try. Im relatively new tho into trading and im tryna find a strategy then back test it. I gotta lot to learn and i kinda put the learning off w anime its tuff | |
| Season 2 this year right? | |
| And its so true. Explained most the characters within 10 mims | |
| And thats facts, i want some of my favorites to be renewed | |
| Deca-Dence is great. | |
| The 2 different styles really do it for me. | |
| There's a strategy in my post history that you can try. | |
| Also I get what you're saying but taking time for yourself and relaxing is vital to a good trading career because otherwise you'll just go nuts. | |
| My best ideas usually come to me when I'm not doing anything trading related. | |
| I have no clue to be honest but lets hope so! | |
| I just peeped your profile and cant seem to find it, can you link me :3 | |
| “The second season of the show was very recently released on 17th January 2020 in Japan. Inadittion to this it was all set to release on 11th April 2020 in the USA. | |
| However, due to the outbreak of the COVID- 19 pandemic, the release of season 2 in the USA is currently on hold. And as of this date, the makers have not announced any new release date for the show” | |
| -PopCultureTimes.com | |
| I guess it’s pushed back TBA 😭😭😭😭" | |
| Are you new here? Want to know where to start? Don't understand why something happened? START HERE!,800,https://www.reddit.com/r/Forex/comments/bp4mgr/are_you_new_here_want_to_know_where_to_start_dont/, | |
| Traders be like..,787,https://i.redd.it/i0730if8c3k41.jpg,"This sub need far more memes and far less ""im terrible at managing my money"" posts. | |
| Too good. | |
| It’s a flash crash. Forex traders are just mad they already live at home and can’t come up with 25k to day trade where the real money is... | |
| Aaaaaaaaaand the downvotes | |
| Yes ... prices are at December 2019 levels! | |
| This is my actual life. | |
| Nailed it haha | |
| Great meme!!! | |
| [deleted] | |
| I doubt this gets many upvotes as this probably hits home for too many people right now. :x | |
| You ment gamblers be like. Traders make consistent money with a proper strategy and money management | |
| That’s what the weekends for 😎 | |
| I'm trading forex but I only got 150 😂 and that's because I don't live at home, just started today after doing some research... But most of those Instagram forex traders are fucking annoying LOLOL | |
| You lost all your money | |
| Of course you don't. You're in my basement, not your moms. | |
| (Stupid joke) | |
| I know plenty of ""traders"" who are also hella gamblers. | |
| Bro chill kids are gonna come out and hate on you. They don’t understand statistical probability and how SPY puts print money | |
| I don’t know why you’re being downvoted. Yes forex, like all markets, are volatile right now but any skilled forex traders can manage it and even thrive. | |
| Nothing in the markets is guaranteed. | |
| And today more then ever, if you're money is in a market that moves... | |
| **You're gambling**. To some extent. | |
| Yeah they are. If they were so great they’d start their own fund. “If you can’t do; teach” | |
| School teachers are legit though sometimes. They don’t get paid shit yet they still teach. But “buy my course” is total BS | |
| Oh I see | |
| Lmfao haha | |
| True. I even have two accounts. One to gamble and one to trade. Obviously my gamble account is like $50.. But still.. | |
| Clearly you suck at trading lol | |
| Same this shouldn't be downvoted at all!! | |
| If you go into a casino you're gambling, in the short run you might make money but you will lose money. | |
| But how can the CASINO guarantee profits in a game of chance? | |
| Because of their business plan allows them to guarantee profit even though all their games are ""gambling"". | |
| Learn to think like he CASINO and not the player in the casino and you can guarantee profits. | |
| Oh 100, I see them all the time 😂 I do have someone's courses though, they're Adam khoos, has a Singapore billionaire... I torrented them though. I did it just to learn what the fuck forex is, it helped a little | |
| NAW MAN we all be like pro Forex 8x money market option trader futures investors and like I turned like $100 into $1,000,000 with this hack on Robinhood BRO and like I'm only 18 and my mom is even proud of me so like until you get on my level, don't even TALK. | |
| This is pro trader area only. | |
| Well good on you for investing in education! You’ll pay for it either to the market or somebody who created the course. All they do is expedite the learning process. I’ve networked with plenty of users who’ve sent me access to “courses” and they’re trading 101. How to size positions and find patterns | |
| Basically everything you can find on Google. Paying for the course just gives you a little confidence is all" | |
| Amen to that 2 - Have a fantastic weekend guys,788,https://i.redd.it/62w7mscevuq61.jpg,"How I feel when I get the fib out | |
| Those crayons... lol taste the rainbow... | |
| Wow, such empty | |
| Okay now this is truly a quality shitpost | |
| It's going up, im sure it will go up forever. HUR DUR | |
| Good to know I’m doing it right. | |
| My nose crayons make me smrtr | |
| apes always be looking like apes, trading or not | |
| That's the One!!!! | |
| Don't fool yourself they know your not making any money | |
| Just be yourself 🤣🤣" | |
| 📈 Focus on what you can control in trading 📉,778,https://i.redd.it/gwnkxnjzl4z41.jpg,"Quality post. | |
| Also to add in Control column, ***pre-execution activity*** & ***post-execution activity***. Don’t meddle with the trade after its executed. Unless you are a M1/M5/M15 scalper. | |
| People need to hear this! People get too many emotions involved and think trading is like directing an orchestra, when in reality you’re just playing a game of probability (and doing a lot of waiting). | |
| I am printing this out and putting it next to my computer | |
| This is honestly amazing. It’s so simple. | |
| Gonna save this as a reminder. Thanks. | |
| ...And track everything | |
| Noob here. Can someone explain why news, results, and trends are bad? | |
| Investing 101. Focus on your locus of control. | |
| Also can’t control emotions, but you can control if it effects your trading. | |
| The trading dichotomy of control | |
| And this is why I analyze and trade technicals. To me, news all but exists. News just makes me overthink or understand something a different way even though I would have been right or even make me lose more than I would have. Actually, this is such a fantastic way to approach trading. (OP’s image, not my personal bias for technicals) | |
| add dumb people on the internet to the list of the thing you cannot control | |
| No one ever said you can control the news and the next marlet move? This post is fucking ridiculous😂 | |
| Lies, just max out and hope for the best wallstreetbets style. | |
| You can also control your praying | |
| [removed] | |
| Finally a post with some good common sense | |
| I would add move your stop loss up as the trade moves into profit. No point in being 60% in profit and then giving it all back. | |
| I disagree with post-execution. I live or die by my trailing stop, I use no targets, and I have a mechanical way of following a trend. Meddling with an open trade based on your discretion is suicide and I agree. | |
| What trade journal do you use? Excel spreadsheet? I’m looking for something a bit more | |
| exactly right! | |
| The news is good tbh, the banks use the news as an excuse to manipulate the market. As long as you can predict how the banks move you can profit with them | |
| They are not bad, they are just not in your control. | |
| Yeah but most people read the news and then think they can predict where the price is going. The news can't tell you that. | |
| [removed] | |
| “Jesus f’ing Christ, why did I move my stop again??” That’s the traders prayer | |
| Lmao go to hell | |
| Eh, this depends on your system. With Turtle Trading for example you were supposed to not close trades early even if that meant you gave back big amounts of profit. | |
| Yep. Been guilty of that way too often for I'd like to admit. | |
| I’m all ears about the **mechanical way of following a trend** | |
| I use excel but also chart my trades on tradingview as a visual reference for later | |
| I use Google sheets, TradingView (for charts and rationale), and MyFXBook.com for data. | |
| Yeah, I think so too. Does OP mean do not let the news impact your strategy? | |
| Check out r/wallstreetbets and you'll understand haha | |
| Can you link some sources on that? | |
| I leave my stop where it is until I get a countertrend move, which I define as a candle that does not break the previous candle’s high in an uptrend or low in a downtrend. After this candle appears, I wait for price to resume the trend by breaking the high or low that failed to break at the beginning of the countertrend move. At this point, I place my stop loss below the lowest or highest point reached by the countertrend move. | |
| So, taking an uptrend as example. | |
| * You get a series of bullish candles, all breaking the previous candle’s high. My stop does not move. | |
| * You get a candle that does not break the previous candle’s high, signaling the beginning of the countertrend move. The color of the candle does not matter. | |
| * After I get this countertrend candle, I mark the highest point reached by the candle before the countertrend move. | |
| * Once this high has broken, I move my stop loss to the lowest point reached by the countertrend move. | |
| Love TradingView | |
| By this, do you mean screenshots? Or is there a feature on trading view to record all your trades? | |
| What does myfxbook do? Does it just show you your trading info or does it have charts? | |
| It's not you think it's a fact my bro. | |
| The reason why 96% Forex traders do not profit is because the banks are hiding something!! | |
| Observe the markets and you will see their little tricks | |
| Did you know if you consistently compound your account with a 15% gain everyweek (2% per trade) on a 200£ trading account by the end of the first year you will be stacking £107,753.85 | |
| I see. However, what defines the below move of yours?: | |
| • Once this high has broken, I move my stop loss to the lowest point reached by the countertrend move. | |
| Like, aren’t you susceptible to another move that is a false break before the market attempts another swing high again? Let’s take AUDUSD of last 2 weeks for example, in terms of the D1 timeframe chart. | |
| I am new to trading but will try this. Which timeframe do use for this? Sounds like a rather short frame of 1 or 5 mins | |
| When you draw lines and fibs and stuff on your chart, like the AMZN chart for example, it saves the drawing on there and you will see it when you look at the chart later on... you can also publish your chart as an ""idea"" to share with others, which is great to see if your trade worked out in your favor | |
| I don’t use myfxbook for trading info, I use it for my trading statistics. You can connect your broker it analyzes your accounts read only data and it shows you your trading stats. Everything from your profit factor to your “risk of ruin”. Shows you if you’re more profitable going long or shorting. You can see the overall progression of your trading approach broken down mathematically. | |
| No offense but if this gain per week was even remotely possible consistently we would have much more rich forex traders | |
| Wow that’s actually an incredibly realistic goal as well | |
| Yes I am susceptible to that. I want to ride a trend as long as it paints higher highs and lows. The moment it stops doing that, I am happy to exit and reassess | |
| 1h | |
| You just don't know any consistent Forex traders that profit from this 😹 | |
| I see. Nice strategy although on the aggressive side. Thanks for the tip breakdown by the way. | |
| Lol are you joking or something? If you are able to achieve 15% weekly consistently then you would have $10 compounded to 800 trillion in 50 years. Stop lying bro lol, of course it’s possible but consistency is impossible and name one forex trader worth more than a few billion lol | |
| You don't know anyone 😹 | |
| I would not want anyone like you on my team with that mindset😹😹😹 | |
| You just put a limit on how much you can make. You got to believe and do it | |
| Trading is not a joke if you understand how the banks manipulate the market 😹😹😹😹😹 | |
| LMAO OK THEN GO MAKE 800 trillion bucks dude, lmfao | |
| Maybe while you are at it stop trying to trick people otherwise" | |
| When you forget to put a Stop Loss and you left your phone at home,764,https://v.redd.it/u71ims2yrgl41,"LMAO even worst it was a 1.00 lot | |
| The guy trying to cross the street, was a stop hunter | |
| Funniest thing I've seen on the internet in a while. | |
| [deleted] | |
| Meanwhile my broker is in the white car behind me going ""WTFH why no stop loss? How you gonna pay for all these negatives now??"" | |
| Currently happened to me right now | |
| Two open pairs with open stop loss I forgot to add on Friday haha | |
| Meme IQ. On 1000.... | |
| u/VredditDownloader | |
| Song? | |
| [deleted] | |
| How I literally drove home other week Friday realising it was NFP news | |
| And there is news 🥲 | |
| And pray for Trump don't tweet meanwhile😅 | |
| That's accurate😅 | |
| So basically you can’t afford that car if you trade? 😂 | |
| So, you're saying that I can't afford the car anyways? | |
| Booo!!! I was laughing at every comment until you squeezed your lemon butt on here. | |
| Sometimes instead of buying a brand new car, you have to sell your house😅 | |
| It was a joke but I don't think I made that clear | |
| Fuck it. Sell the house, live in the car, and YOLO your account in an attempt to make all your money back. | |
| >without a stop loss. Or with. | |
| Well then, I don't get your very clever joke. Or do I... | |
| the joke was that we are all broke | |
| Exactly the lemon butt I'm talking of, loosen up a little." | |
| Amen to that,740,https://i.redd.it/kbb46anopip61.jpg,"Absolutely, gaining profits it's a bit like peeing in the morning..so many missed opportunities... | |
| Jokes aside, goodluck trading my friend. | |
| Have you tried using a drain plug? | |
| Scalp bro... | |
| Lost too much on NZD last week, how it trended down to a 4 month low... 🥲 | |
| Have you tried not placing the drain there? | |
| Me all over | |
| My account as well | |
| [deleted] | |
| ForexStreetBets | |
| Buy high, and sell only a tiny bit higher lots of times. | |
| Idk how to put it in words, but it’s kinda like hot potato... you see how much the stock “vibrates” and where it vibrates ( what price it stays around). If it’s a technical breaking point volume has to come in the last bit to confirm a movement up it down.. careful though cause it can also be a trap... regardless have a,b,c,d, and e scenarios and always be willing to flip your decision. I wouldn’t go so hard on your first entry just in case your wrong. And if you flip your direction I would take a little more risk to make up your loss. And if your quick enough, add more! I would also only try to play support and resistance and not play in between unless your conviction is high ( I only try to go for 3-4 cents here between 300-700-900 shares, if I’m wrong and it does against me and I have a good feeling it will vibrate around the price I double down to get a better entry ( sometimes my risk to reward messes up but I let my conviction take lead and it works for me). Also don’t try to sell at increments of five cents.. I find that selling between five cent moves is way better. Also just make sure you have a stop loss if you play with size. And if out in and the price moves in your favor raise the stop up to your entry ... sometimes if you had a good entry you won’t get stopped out sometimes you do though.. idk I find that I lose less when I do this. | |
| I usually do the same. If your broker have low spread, It's an opportunity, but with a really slow gain with shitty RR ratio." | |
| We all know this is true! 😂,706,https://imgur.com/sCu4EX3,"I wonder how many times people are gonna post this. | |
| This is actually a good visualization of the logic behind Elliot Wave | |
| It is very true and it does happen on the reality, . .upvote for this | |
| No one knows this is true this is just a retarded drawing nothing about this makes any sense whatsoever and I’m surprised you managed to get 500 upvotes by reposting that’s probably how you do all your trading too stealing other peoples strategies | |
| First time I'm seeing this 😂😂😂 | |
| When u trynna hear some sentiment 🤣🤣🤣🤣 | |
| And that post is gonna conclude my time here on this sub. Too many wannabe traders and wannabe experts. | |
| Hahaha 😅 | |
| Seen this second time | |
| All of these subs in 48 hours - | |
| https://www.reddit.com/user/admin-mod/m/0st0nks/" | |
| New traders be like,696,https://i.redd.it/srqmtv3cqupa1.jpg,"When you not apreciate the smaller things, yiu will never achieve greatness. Going from 50$ to 50.69 is more then 1% growth. Adding compounding to this will evolve in a beast of a account. | |
| On a $5,000 account that would be $69, do that 5 times a day and you can quit your day job. | |
| I'M RICH BITCH!! | |
| [removed] | |
| “If I easy made 69 cents with .01 lot then my next trade will be for .15 lots and make all the money!” | |
| Queue exploding noises | |
| They might be too scared of hitting a profit target. | |
| *Would you like to upsize your meal?* | |
| **You bet your ass I do** | |
| Making that 0.69$ was just made when you got scared and didn't let the either the tp get hit or the stop loss , we've all been there but you got accept one of the two , either tp or your SL | |
| Me when I got $0.50 profit for the day 😃 | |
| Truth. Then we turn around and blow half of it :D | |
| Real😂 | |
| Literally me | |
| Meeeeee | |
| *Nice* | |
| If you can make 1% most days of the week you’re gonna be more than fine. | |
| I don't understand, the get sad from making money? Because it's a small amount? Or is this post about something else? They get depressed? | |
| I do this then take the money out to buy weed or uber eats | |
| 1% is 1%…better than 90% still. Of course, gotta do it consistently :) | |
| real | |
| Good job | |
| Even more than that.....😂 | |
| I made 18 dollars my first 2 days with a $100 dollar deposit. I was more than appreciative. | |
| 1% gains are for the weak | |
| Worst possible advice u can give, the thing that you won 5 times in the row (very unlikely) doesnt mean you will not loose 10 times in row after that | |
| I'M BITCH RICH!! | |
| The mindset of the 99% dumb money | |
| Real Champ💪😂 | |
| They got so happy by gaining this amount at first, get carried away and traded emotionally and lose it all within a day. | |
| LoL!!! So 1% of a 50k account is weak? Gtfo. Ever heard of the phrase, 'if you can't make money with a 100$ account, what makes you think you can make money with a 100k$ account? | |
| The biggest traders among us are the most humble ones. | |
| That’s why I park my money in 5% CD while you play gambling games | |
| Make 20 trades a day, %65 win rate = 13 wins and 7 losses, or 6 profit trades. More than enough. Obviously takes practice. | |
| I'M RITCH BICH!!! | |
| Ah ok.. | |
| Yeah I did something similar when I visited England when I was 12 years old. | |
| I played some game in a pub that cost one £ to play, hit a bunch of buttons and won 50£ | |
| I then proceeded to give it all back. But stopped once my profits were all spent. | |
| making 1% on 50k is nothing. good luck with your boring gains | |
| Can’t even be bothered to read ur whole comment but as it stands before and now; 1% gains are for the dumb ones (unless you’re trading 100m) | |
| If gambling got me retired at 24 call me the gambling don from now on, educate yourself mate don’t be scared of the unknown it’s gonna be ok x | |
| BE stop lose hehehe | |
| Sounds like a fruit machine. You don't have those in your country? | |
| I think in prop firm standard it's good. You can probably accumulate millions of dollars worth of prop firms in a single year. If you have like 10 mil and make 3% a month even with the profit split you'll probably make 240k a month but at that point it'll probably be a good idea to make your own personal account. | |
| Banks will pay you like 3% annual 😭 amd they run the markets | |
| Please, enlighten us. What is your targeted gain percentage? | |
| Got any good self-education sources? | |
| I don't know what it was, it was some kind of machine where you had to hit a bunch of flashing lights quickly. | |
| It wasn't a slot machine if that's what you mean by fruits | |
| Stand on your own 2 feet mate, enlighten “us”. It’s me and you here but easy to see what umbrella you fall under but since you asked so nicely: minimum 20% | |
| I thought you knew what you were doing? | |
| I’m always willing to help the little guy out, download soft4fx simulator and log trades until your eyes burn and repeat for 2 years then the word “gambling” disappears and only gets brought up by people who are scared of the market hint hint | |
| That is a hefty target. I am impressed, personally I aim for 10%, anything above that is bonus. What is your risk? 5 to 10%? | |
| 5-10% risk a trade yes | |
| Bellend | |
| With proper position size that would be achievable. Been playing with that idea as well, but you need a high rr then, otherwise you could be wiped out in a couple of trades. I do like the aggresive style that comes with it. | |
| Calm down it ain’t my fault ur poor mate | |
| It’s not hard to accomplish at all, I aim for 1:10s making 90-100% but minimum I’ll take is 20% | |
| 😂😂 | |
| I smell manure | |
| What timeframe you play? I am actually curious niw to your trading style. Seems like a fucking adrenaline rush on a daily basis. | |
| You make 20% a day minimum? | |
| You can very much learn from these reddits lol but some people force it | |
| Scared of the unknown | |
| Used to be adrenaline rush before my set up was complete but thousands of hours across 6 people have gone into the set up so no emotion involved when entering trades now, plus the set up appears once or twice a month maybe | |
| No my set up appears once or twice a month if I’m lucky | |
| Come back in a couple of years when you're worth 200 millions, then I'll apologize | |
| Explain that one to me. 1000 hours accros 6 people? What? | |
| Wait. Once or twice a month? So, average, about 30% growth per month, or 1% per day. You're shit talking about someone making in a single trade what it takes you an entire averaged day to make? | |
| My average is .1% growth per trade, between 10-20 per day. | |
| I'm not trying to shit talk you, it just seems like you're choosing between $30 a month or $1.5 per day. | |
| I don’t want an apology little man | |
| On the simulator (backtesting) as the majority call it | |
| Key word was minimum, but let’s go with what you said about average 30% a month; id rather do that in 2 emotionless trades, than sweating sat at a laptop all day. | |
| Chill... Blowing accounts makes you aggressive I see | |
| Ah, crystal. Good for you buddy. So you only trade 1 or 2 times per month. That is bliss!!! | |
| You’re not wrong mate I blew one a few years ago and it still hurts when I think about it | |
| Thanks, and sort of, I’m on the charts every single day backtesting and analysis for upcoming day so it ain’t all easy breeze" | |
| The grind is real,702,https://i.redd.it/to05esrgmnv91.jpg,"He wouldn't have to sell banana's if he CLOSED that laptop... | |
| He's not trading, he's checking the commodities price of bananas and adjusting his pricing accordingly. | |
| while it is laughable, selling banana gives you alot of free time to trade. The only thing left is risk control and know how to trade. | |
| [deleted] | |
| Bro lemme get a banana. “Hold up bro I been waiting all hour for this trade” | |
| Watching a chart in real time is probably still more fun than selling bananas for a living, real talk. | |
| Banana futures | |
| Hope he bought puts | |
| BANANAAAAAAAAAAAAAAAAAAAAAAAAAA | |
| Mad respect 💯 | |
| This is insane. Yes, the grind is real. Reddit never stops amazing me with such posts. | |
| Very sad indicator usage. | |
| What's the best way to create **Indicator based Alerts on Forex**? | |
| I've created one with TradingView when Gold crosses 50 EMA, | |
| but i want to know whether it can be done somewhere for free or inside MetaTrader itself? | |
| Ew. | |
| 😂😂😂😂😂😂 | |
| Nepali | |
| ""banana trees"" | |
| Damn right ! | |
| he is the forex trader but selling banana as part time job to that people understand he is working. selling banana is the prerequisite to his wealth since he got money without working. | |
| Fast forward 10 years, he’s selling bananas out of a lambo trunk 😂😂 | |
| Me too. I didn’t even get the joke lol | |
| That would be double losses. | |
| Well, it’s about perception. This was a great joke but it can also become an inspiration for those who need motivation. Good one! | |
| servings lifetime۔۔۔۔ with dignity and prosperity۔۔۔ | |
| Not sure which is the side hustle, bananas or forex? | |
| What does this mean? | |
| Depends how many bananas get stolen when he’s too busy charting. | |
| Theres always money… (collectively) in the banana stand | |
| dude dont even have a set up. Just one sad two lines cross | |
| I mean 99% of indicators are a joke. A simple rsi and ma is good for confirmation the rest is up to the eyes and brain | |
| What is ew? | |
| OK I'll explain the joke: Obviously this Forex trader has lost all of his money and now has to sell fruit on the side of the road to make a living. | |
| Not really. They are not needed for successful trading but if you can make them useful, then why not use them? | |
| mE in the mirror. | |
| got it lol. that is funny, and I feel like an idiot lol" | |