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By (user no longer on site) OP
over a year ago
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Anyone here really good at forex trading? This time at home makes me wonder if it worth giving another try. Need a mentor with consistent profit track record please. |
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By *arksxMan
over a year ago
Leicester / London |
"Anyone here really good at forex trading? This time at home makes me wonder if it worth giving another try. Need a mentor with consistent profit track record please."
80% of retial investors loose money.
It not something you can learn in weekend and be a millionaire and thoughts of a "guru" showing you how to make money is YouTube snake oil bs
But join r/wallstreet bets on reddit lots of autists on there to learn from |
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By (user no longer on site)
over a year ago
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"Most of the Insta guys are just cowboys who are after subscriptions.
Study it for a long time first. "
All these Insta-successes remind of the ones pushing ‘Forever Living’ or whatever it was called  |
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By (user no longer on site)
over a year ago
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"Anyone here really good at forex trading? This time at home makes me wonder if it worth giving another try. Need a mentor with consistent profit track record please."
.
I been taking up my hobby on the stock market while on furlough |
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"Anyone here really good at forex trading? This time at home makes me wonder if it worth giving another try. Need a mentor with consistent profit track record please."
Simple rules.
My never list;
Simply put never in front of the following.
risk more than 1% of your account.
bet against the trend.
chase a trade, don't trade for the sake of trading.
chase a loss.
trade on non farm payroll day.
trade on Monday morning or Friday afternoon
Stick to the more stable currencies, avoid the Scandinavian ones, very unpredictable.
Always set a stop loss!!!!
Look for big world events. A few years ago the Japanese tsunami took more than 450 points off dollar/yen in a day.
Remember, there are 5 possible outcomes to a trade.
Lose big.
Lose small.
Break even.
Win small.
Win big.
Only one of those is extremely negative.
You're placing a bet, rise or fall. You've got a 50/50 chance of being right. |
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By (user no longer on site)
over a year ago
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I’m not a trader but I do import and export a lot so I’m constantly keeping eye on market and buying certain currencies. The SA Rand looked very good value to me over last couple weeks where I bought at 23.50. That was very nearly a record high against the £ so seemed a good time to buy |
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Maybe try babypips. Its an intro site to trading and i think they also do dummy trading where you can used to watching the signals for trades, divergence etc. It takes a bit of work and study but its worth it |
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By *arksxMan
over a year ago
Leicester / London |
I'm not interested in training anyone
But my simple advice is... Movements in markets are geo politically motivated.
Which means you have to read alot of news. A lot! I know things about other countries politcal and financially structure most of their citizens don't know.
Most of the social media bs is around "charting"
The idea you can make future money by following a line on graph is ridiculous and show how gullible some people are.
The best advice I can give is
Learn risk management.
Don't loose more than you can afford to loose espically on margin
Becuase you will loose when you first start out.
As for learning... Find a retuible source of information and if a course is offered take you accounts trading history with you and ask them to explain why you lost money.
I got my first job in finance not by shouting how much I could make the company .
But asking how I could make more if I had made less mistakes.
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By (user no longer on site)
over a year ago
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Forex is a very very quick way to lose money when you don’t know what you’re doing.
Also ignore the social media gurus who want you to sign up to their system.
Set a practice Account up and watch how scary it can be.
Since the lockdown restrictions started I bought up some moderna stock at around $23, it’s now at $46
There’s also oil that’s a good bet
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By (user no longer on site) OP
over a year ago
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Appreciate the advice. Not really what I was looking for. Im not quite a novice at this. Done several pro course already, worked for a very successful trader for a period (that encounter spurred my interest). Part of a subscribed community of traders but most managing big portfolios so cant blame them for being too busy to mentor. Thanks anyway for the chat. |
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"I'm not interested in training anyone
But my simple advice is... Movements in markets are geo politically motivated.
Which means you have to read alot of news. A lot! I know things about other countries politcal and financially structure most of their citizens don't know.
Most of the social media bs is around "charting"
The idea you can make future money by following a line on graph is ridiculous and show how gullible some people are.
The best advice I can give is
Learn risk management.
Don't loose more than you can afford to loose espically on margin
Becuase you will loose when you first start out.
As for learning... Find a retuible source of information and if a course is offered take you accounts trading history with you and ask them to explain why you lost money.
I got my first job in finance not by shouting how much I could make the company .
But asking how I could make more if I had made less mistakes.
"
 |
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Had fun with this too, list more than I have won quite honestly but live in hope, I'm a very addictive person but love the discipline involved in keeping things at a sensible level. Lots of fun if you're a thrill seeking addictive nutter like me |
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