Want To Trade Forex: Here’s How To Start? - ValueWalk

Forex Trading Lessons: A Must For Forex Beginners

Forex Trading Lessons: A Must For Forex Beginners
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/r/Forex Trading Community

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

Short? Long? Who gives a fuck as long you're maxed out! "Gain as if you'll live forever. Trade as if you'll die today. ...Then, go fuck yourself."
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Want to Trade forex for a living? Read this.

Think of it like a really extreme freelance career, working for tips at a seasonal bar or restaurant. Every day, week, month, you have to put in the work to build your revenue stream. One Friday, you could pull in $800. Memorial Day weekend, $2000. Then for all of June to August, $50 a week, or worse, you spend more on bus fare just to get to work.
Same for trading. First you have to build some kind of personal track record. No one else needs to see it. No one else cares. It's just for you to know what you are actually capable of. You can't plan a monthly budget on an income you haven't proven yet.
Calculate your rock bottom monthly expenses. Rent, transportation, bills, food. No entertainment or other discretionary spending.
Compare to your hypothetical track record for trading. What's the worst month you had in a year? The best month? The average? How many months did you not make enough to pay your bills?
From that, figure out how much of a savings buffer you need, to afford that many months of bills, and no trading income (or worse, trading LOSSES).
Normal budget planning recommends 2-3 months of living expenses saved, plus an emergency fund. For volatile jobs, I'd say you need at least 2x that much. I've heard of some old school traders who only saw $0 or losses for 2 years straight. There's this penny stock trader guy Ross, who sells Warrior Trading education courses. In 2017 (?) he did a challenge where he traded $500 up toward a goal of $500,000 in a year -- he posted account updates (as far as one can trust them), and showed that he reached $335k by the end of the year, but had SIX MONTHS of zero to negative returns in the middle of his year. In 2012-2014, volatility died, and a lot of traders couldn't hack it in those conditions. With price movement dead for two years, how would you adjust for the lack of trading opportunities and income?
Your living costs need to be as low as possible, and your trading income needs to be sufficiently high, so that even your low months are consistently able to cover your bills. If your living cost is currently $2500 a month, and you have a $50,000 job, then one example might be to downsize your life (take on roommates, whatever) to reduce your cost down to $1500/mo and aim for a trading account size combined with personal trading method that gets you an annual range of $50k-$100k. That way, even in a bad year when you only make $25k, you'll still be able to pay rent. And just as they recommend for people who make good tips, save the extra income from any good month or year, until you have that huge safety cushion to live off.
It sucks immensely to trade under pressure when you don't have rent money. It's one of the big rules -- never trade with money you can't afford to lose.
If that all sounds too unglamorous, keep a part-time to full-time job, and trade in the evenings/plan your setups on the weekend to juice your income. Keeping a base income means covering your bases (so long as the job market is good), leaving you to trade stress free. Even if you blow a $1000 account, hopefully you can build that back up in a few months of saving from your normal job.
By the numbers, 93% of new traders quit or fail within 5 years. And only less than 1% of traders are profitable after expenses, per year. That means anyone who makes more than $0, so there's a long way to reach an income you can live on. Work towards being that successful guy, but make plans to survive the initial X number of years where you haven't yet proven your ability to be that guy.
submitted by brycewit to Forex [link] [comments]

I am a Alberta resident (20) and want to trade forex

You need to be a accredited investor i found out today but i have seen other people who are not and are still able to make a account and trade currency with out being one just looking for help or other options (not into trading stocks)
submitted by Skiper21 to Forex [link] [comments]

Who wants to trade forex? But doesn't have deposit or money?

submitted by Benson1014 to AskReddit [link] [comments]

So You Want to Trade Forex Full-Time?

So You Want to Trade Forex Full-Time? submitted by ososru to Bitcoin4free [link] [comments]

So You Want to Trade Forex Full-Time?

So You Want to Trade Forex Full-Time? submitted by Rufflenator to 3bitcoins [link] [comments]

hello I wanted to trade Forex all types of skins and knives but only on one condition ...

that condition is that you to subscribe to my channel. https://www.youtube.com/channel/UCqvKzAnlYAqqbdBqh1UJT9A I skins and very good knives only send trade NetHub name : GoldHaze119
submitted by CSGOSkapJrCSGO to CaseClickerTrades [link] [comments]

My dad wants me to trade forex in the future, how do I change his views? any advice is appreciated.

So a long time ago, my dad clicked an ad that brought him to ufxmarkets, which promised him a lot of money. So right away he put $3000 and lost it all eventually because it was a scam. He recognized it was a mistake but he still wanted to trade forex, so now he's moved on to fxcm.ca, which I read may be a scam, link link2
Yesterday, he told me he getssignals from a "guru" in New Zealand or Australia, I don't remember, and he basically wants me to replace him, that way he doesn't have to pay for one and always rely on someone he didn't know. He said that he made $160 just yesterday, so that surprised me. He then told me to study about it, and if I don't wanna do it, I don't have to.
So today, after researching, I've seen people say that forex trading is unregulated, high risk and is basically gambling, (no skill, all luck), and online trading (what my dad is doing) are scams. But some people say otherwise.
So basically my questions are, is forex trading a whole, a scam? And is fxcm.ca a scam? Should my dad stop forex trading? He thinks forex trading can be his main income if I help him, and he also finds it fun, so is forex trading pretty much his way of gambling,? Gambiling is prohibited in our religion so clarification on this will help.
submitted by jugofwater97 to investing [link] [comments]

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

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

US30 Prop Firm options

Sorry if this is not allowed because it’s technically not forex. I was wondering what are my options for prop firms if I want to trade forex and US30.
submitted by lma1 to Forex [link] [comments]

Negative account in forex

So.. My birthday just past and I have been debating on where to treat myself.
I decided I want to trade forex live. I have been doing it off and on since the beginning of the year.
Now I want to start a live account but with a few hundred as I am willing to lose that.
My two questions are..
1) lets say put in 500 in my account I buy a lot and it goes down to -500, will my account just shut down and not go any more negative than that?
2) if it does go -500 will I be able to open up a new account later on under the same brokerage
(I am using Forex.com)
thanks all
submitted by AdministrationHead62 to Forex [link] [comments]

Will Webull ever offer forex and crypto trading?

I chose Webull because I absolutely love the mobile app and desktop application. However, eventually I will want to trade forex and crypto but I don’t want to have to use another broker in order to do so. Do you guys see Webull offering these in the future? Why don’t they currently offer them?
submitted by donib11 to Webull [link] [comments]

It was a contrarian! The vaccine news was just released we shorted the #EURUSD. It yielded 42 pips in a quick time. Want to make a contrarian trade in style? Download the #signalsapp now. https://traderpulse.com/forex-trade-signals/#pricing

It was a contrarian! The vaccine news was just released we shorted the #EURUSD. It yielded 42 pips in a quick time. Want to make a contrarian trade in style? Download the #signalsapp now. https://traderpulse.com/forex-trade-signals/#pricing submitted by traderpulse to u/traderpulse [link] [comments]

I have students of all races and all around the world. Many of us want to take action but aren't sure what to do. Lets start with building wealth to help level the playing field. Join my one on one Forex class to learn how to trade the market yourself.

I have students of all races and all around the world. Many of us want to take action but aren't sure what to do. Lets start with building wealth to help level the playing field. Join my one on one Forex class to learn how to trade the market yourself. submitted by Teri_Ijeoma to u/Teri_Ijeoma [link] [comments]

It was a volatile week leading up to the #USelection. However, our experts guided our #premiumusers to great #profits. Here is a snapshot of the best of the lot. Want to get the complete list? Reach us here. https://traderpulse.com/forex-trade-signals/#pricing

It was a volatile week leading up to the #USelection. However, our experts guided our #premiumusers to great #profits. Here is a snapshot of the best of the lot. Want to get the complete list? Reach us here. https://traderpulse.com/forex-trade-signals/#pricing submitted by traderpulse to u/traderpulse [link] [comments]

Want to get started on how to invest and trade on Bitcoin and forex? Dm me now to get started

Want to get started on how to invest and trade on Bitcoin and forex? Dm me now to get started submitted by Gathadams to u/Gathadams [link] [comments]

#EURUSD was at the low in the #shorttermcharts. But we still took the #risk of shorting it. Fortune favored the brave and thus yielded 39 #pips. Our users were happy, want to be one of them? Download this #freeapp now. https://traderpulse.com/forex-trade-signals/#pricing

#EURUSD was at the low in the #shorttermcharts. But we still took the #risk of shorting it. Fortune favored the brave and thus yielded 39 #pips. Our users were happy, want to be one of them? Download this #freeapp now. https://traderpulse.com/forex-trade-signals/#pricing submitted by traderpulse to u/traderpulse [link] [comments]

Scalped 64 pips profit in #Gold. With our unique #scalpingstrategy, aiming a biggie in scalping is an easy task. Want to make a quickie in the #forexmarket? https://traderpulse.com/forex-trade-signals/#pricing

Scalped 64 pips profit in #Gold. With our unique #scalpingstrategy, aiming a biggie in scalping is an easy task. Want to make a quickie in the #forexmarket? https://traderpulse.com/forex-trade-signals/#pricing submitted by traderpulse to u/traderpulse [link] [comments]

I'm a Forex Trader , Dm me if you are looking to invest in forex or want to learn how to trade .

I'm a Forex Trader , Dm me if you are looking to invest in forex or want to learn how to trade . submitted by nellysmart1 to u/nellysmart1 [link] [comments]

Do you want to make profit in #FX with minimal effort? Download the #signalapp now. We give 2-3 signals every day with 20-30 pips profit. Here is a recent trade in #EURGBP where we made 31 pips. And it's completely free. https://traderpulse.com/forex-trade-signals/#pricing

Do you want to make profit in #FX with minimal effort? Download the #signalapp now. We give 2-3 signals every day with 20-30 pips profit. Here is a recent trade in #EURGBP where we made 31 pips. And it's completely free. https://traderpulse.com/forex-trade-signals/#pricing submitted by traderpulse to u/traderpulse [link] [comments]

With #Euro making a #strongpullback against #USD, not many would have shorted it against #CAD. But we did and scored a handsome reward of 28 #pips in no time. Want to make such contrarian trades? Download our #freesignals app now. https://traderpulse.com/forex-trade-signals/#pricing

With #Euro making a #strongpullback against #USD, not many would have shorted it against #CAD. But we did and scored a handsome reward of 28 #pips in no time. Want to make such contrarian trades? Download our #freesignals app now. https://traderpulse.com/forex-trade-signals/#pricing submitted by traderpulse to u/traderpulse [link] [comments]

101 #pips profit in no time. Our expertise combined with #gold always yields the best result. Want to make the most out of it? Get our #premiumsignals now. https://traderpulse.com/forex-trade-signals/#pricing

101 #pips profit in no time. Our expertise combined with #gold always yields the best result. Want to make the most out of it? Get our #premiumsignals now. https://traderpulse.com/forex-trade-signals/#pricing submitted by traderpulse to u/traderpulse [link] [comments]

I want to celebrate with you the end of my backtest journey! This is what 388 k candles looks like. 710 trades. 45% winrate. 1:2 rrr. -11.5% drawdown. +486% gain. No hate! (/r/Forex)

I want to celebrate with you the end of my backtest journey! This is what 388 k candles looks like. 710 trades. 45% winrate. 1:2 rrr. -11.5% drawdown. +486% gain. No hate! (/Forex) submitted by ContentForager to mistyfront [link] [comments]

How to Start Trading Forex - YouTube How to Trade Forex like the Banks: Secrets Revealed ... How to Start Forex Trading in 2020 IN 5 Minutes! - YouTube What Is The Best Way To Enter A Trade In Forex? - YouTube How to Trade Forex - Learn Real Forex Trading 💹 💰 💲 - YouTube AUD NZD - The Best Forex Pair To Trade - YouTube Forex - A NEW Way To Enter Your Trades (if you want to win ... HOW TO TRADE FOREX 2020  MAKE MONEY ONLINE $230 A DAY ... How To Trade FOREX in 90 SECONDS  LEARN HOW TO TRADE ... The Easiest Way To Trade Forex *SIMPLIFIED* - YouTube

The maximum leverage offered by your Forex broker in what you want to trade (leverage varies from asset to asset and country to country); and. The minimum position size you can trade with your broker in what you want to trade (this is usually 1 micro lot). There are a few Forex brokers allowing trading in a minimum position size even lower than 1 micro lot. This lower size is 1 nano lot ... How to trade Forex like the banks. It is usually a vain and unprofitable effort to trade against the banks in the long run. So, it only makes sense to learn to trade with them and not against them. Here are tips on how to trade like a market maker. The first thing is to learn to trade on larger timeframes. Banks don't trade on minute charts. It is sure to quench your desire of, “I want to trade Forex”. The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC. Start ... Want to Trade Forex? Get Used to Losing. In today’s world, losing is avoided at all costs, seen as a sign of weakness and failure that you should hope to avoid again in the future. In finance especially, losers are looked down upon and barely given a second thought as the focus shifts to winning at all costs. The reality of trading – and life really – is that losing is one of the best ... Here are 4 steps on how to trade forex: Step 1: Learn how the forex market works. The basic concept . Forex trading involves simultaneously buying and selling two currencies. For example, if you are buying the GBP/USD, it means you’re buying GBP by selling USD and if you’re selling the pair, you’re buying USD by selling GBP. In the foreign exchange market, forex pairs are divided into ... Want To Trade Forex: Here’s How To Start? By. Brendan Byrne - Jun 15, 2020, 11:47 am. Forex, or FX or currency trading or foreign exchange is a decentralized global market where the global currencies trade. It is the biggest and most liquid market globally. Even if you combine all stock markets, they won’t come anywhere close to the FX. Thus, the FX market offers immense opportunities ... You can trade forex online in multiple ways. Steps. Part 1 of 3: Learning Forex Trading Basics 1. Understand basic forex terminology. The type of currency you are spending or getting rid of, is the base currency. The currency that you are purchasing is called quote currency. In forex trading, you sell one currency to purchase another. The exchange rate tells you how much you have to spend in ...

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How to Start Trading Forex - YouTube

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