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Is Forex a Scam? Answers for 2020 • Benzinga
A place for redditors to discuss quantitative trading, statistical methods, econometrics, programming, implementation, automated strategies, and bounce ideas off each other for constructive criticism. Feel free to submit papers/links of things you find interesting.
Welcome to Forexit. Give this a quick read will ya?
Forex. Love it or hate it, it's here to stay, and like the unregulated markets of currency based commerce - so too should there be an open space to joke and laugh and cry as we collectively lose our money, our houses, our friends, families and more often than not, our trading accounts. Look, keep it related to forex, don't be a dick, and you'll be alright.
I’ve just started forex. I love it. But I’m losing all my money. What do I do?
Okay so I always wanted to trade as I’m obsessed with everything economics. Weird considering I didn’t even take it at university (that’s a story for another day) After years of wanting to trade, I finally tick all the boxes; over 18, money to invest. (I’m 20M btw) Okay so start with £250, playing about with it. Putting in all the techniques I’ve learnt over the years but never used besides a demo account. And it’s going amazing. In one day I’ve got £750. This is great. It’s good because it wasn’t an accident, I actually know what I’m doing over all the years of demo trading. But then I hit a wall. I got exited and done one stupid trade and lost every penny of that in the space of hours. My confidence is absolutely shattered and I’m scared to take any risk whatsoever. I invest another 250 and my confidence is completely fucked. I lost it in the blink of an eye. Finally I put another 250. I’m telling my self that if I lose this, I’m done with this as it’s clearly not for me. So far I’m a £140 and I’m sitting still. I don’t know what to do. I was doing so well and so motivated but all of that has gone into the trash. My confidence is at an all time low. I can’t afford to keep throwing cash either. I’m a scalper as swing trades don’t sit well with me. UPDATE :: okay so I tried to do the whole “no trade for two weeks” but I just couldn’t. I put down another £1500 in my account and told myself that this is the final one. I lost that in about 1 day. I’ve now put another 2000 and lost more then half of that already. Idk what to do
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A review on a book subtitled “America love in god, heal America”. The author claims it is an international best seller on their Instagram page. I found it when looking at the author’s comment on a forex scam account asking for tips in “investing”.
Anybody on here trade options or Forex? Would love to meet some like minded people to teach me a few things.
Would be great to meet someone local who's into this kind of thing too. I learn better when I can ask questions, plus teaching is the best way to learn. Might be a win win! Plus, I'll bring beer. 😁 Might be a long shot, but worth a try!
When I first started trading I looked for the perfect strategy, 3 years have passed and I haven't found the "holy grail" strategy. But I did find a pretty good one. One of the major problems beginners have is when should they buy or sell a stock? What do you EXACTLY do? The Strategy: Heikin Ashi + Stochastic RSI. Heikin Ashi is a wonderful chart type that cuts major noise. It's a lot different than your regular candlestick charts. You get a series of green/red candles and the calculation is quite different. Step 1. I look at the trend of the Major index. I live in India, so I track Nifty50, you may track your country's index (Dow or something). I look for the trend and confirm the trend on multiple setups. If the stock has positive correlation with the market, and the market is up, I look for buying opportunities. If the market (index) is down, I look for shorting opportunities. The correlation with the market matters. Some stocks have negative correlation i.e. The market goes up and the stock goes down. If the stock has positive correlation and the market is up, I usually avoid shorting. Step 2. The Trend of the Stock. You can use something as simple as the 50 or the 200 simple moving average to find the trend of the stock. After that I draw a few support and Resistance zones on the chart. Not a lot, usually around 3,maybe 4 occasionally. Step 3. Confirm the trend. I use a 4x time frame chart to confirm the trend. For day trading I use 15 minute chart and I confirm the trend on a 1 hour chart. For swing trading you can use 30 minute chart and confirm the trend on the 4 hour chart. If the 15 min chart is bullish and the 4 hour chart is bearish, I avoid trading. Step 4. Use Heikin Ashi. The rules of heikin ashi are simple, two continuous closed red candles = bearish trend and two closed continuous green candles = bullish. There are other rules regarding the size of the candle and the trend. Step 5. Stochastic RSI. I use the default setting usually, and if the RSI is below 30 and rising up, when the heikin ashi has closed two green candles, I buy. When the stochastic RSI is above 70, coming down, and there are two red candles on Heikin Ashi, I sell. Step 6. Entry. The 4th and the 5th point will give you the entry signal. I use a stop-loss above the high of the candle (previous) or some other way. The risk is always less than 2%, if my capital is 10,000 the risk per trade is less than 200 bucks. To find out the number of shares to buy you can watch my video on position sizing, or any other video on YouTube. Step 7. Exit. When the trend continues and I see an area of resistance (long trade) I exit my position. Or when two continuous red candles are closed on Heikin Ashi. If the candles are red but the size is very small, I don't exit. Exit= Major Support /Resistance or two continuous closed candles in the opposite direction with decent size. Some Thoughts. The Win Rate of this strategy is theoretically 80%, but in real trading it falls to 65-70% considering that your stop loss is hit. That's still a good success rate. The risk reward is usually uncertain but it's above 1.5:1 (usually). The more rules you add, the lesser opportunities you get. If 2 rules out of the 7 rules are violated, or if a major rule is violated, I DON'T TRADE. This definitely decreases the opportunities I get, but my win rate is higher and I am more confident with my trade. You can modify the strategy according to what works for you. I learnt it from my mentor and made a couple of changes. This may not work on every stock (no strategy does) and it is good in TRENDING MARKET. In a sideways market it either doesn't give signals or doesn't work. -Vikrant C. Edit: I'm thinking of making a video on this strategy along with examples, comment below if that is something you'll be interested in. EDIT 2- I UPLOADED THE VIDEO! I've given the link in the comments section. This is my first video talking about a strategy, so it might not be the best video. But I hope it helps. LINK IS IN THE COMMENTS.
I have been forex trading for about 4 years now and have lost over $12k… You name it, I’ve looked everywhere and I can be certain that most of the problems are not focusing on what I have in front of me. Not even gonna talk about my poor risk management lol, if anyone can point me to the right direction I would love that. Thank you!
Samuel Morton is based in the UK. He is a full-time price action trader and the owner of love-the-pips.com, which offers price action courses, mentor-ship programs and trading signals for Forex.Samuel also manages his own trading fund, SM Capital. Below is my review of Samuel's Forex trading signals, a review of his trading course can be found here. Forex news from ForexLive. The fastest Foreign Exchange market reporting and analysis. Live Forex and economic news. Technical analysis, headlines, Live quotes. 1 Minute Review. IG is a comprehensive forex broker that offers full access to the currency market and support for over 80 currency pairs. The broker only offers forex trading to its U.S.-based ... View live forex rates and prices for commodities, indices and cryptos. Live streaming allows you to quickly spot any changes to a range of market assets. Love The Forex Game Partner Center Find a Broker In his prime, NBA legend Kobe Bryant MADE 1,000 shots a day in practice to increase his chances of making the 20-30 shots a game he takes.
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