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Forex Trading Lessons: A Must For Forex Beginners

Forex Trading Lessons: A Must For Forex Beginners
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Algorithmic Trading

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.
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Stocks - Investing and trading for all

Almost any post related to stocks is welcome on /stocks. Don't hesitate to tell us about a ticker we should know about, but read the sidebar rules before you post. Check out our wiki and Discord!
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Learn Forex Live Reviews

Learn Forex Live Reviews submitted by Rufflenator to 3bitcoins [link] [comments]

Learn Forex Live Reviews

Learn Forex Live Reviews submitted by Hellterskelt to bitcoin_is_dead [link] [comments]

Learn Forex Live Reviews

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Learn Forex Live – Hands on Forex Techniques

Recently a team of Forex system testers perfected a well-known forex trading concept. The trading concept is that if you have a forex trading system or technique that is consistently losing why not reverses the signals and makes a profit. In practice, this does however not work very well.
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Forex Demo Accelerator - Forex Demo Accelerator. Learn to trade quickly using accelerated time frame and autotrader hints. Practice on the most popular indicators and currency pairs! Fine-tune your strategy, and then take it live!

Forex Demo Accelerator - Forex Demo Accelerator. Learn to trade quickly using accelerated time frame and autotrader hints. Practice on the most popular indicators and currency pairs! Fine-tune your strategy, and then take it live! submitted by dejobaan to WhatsOnSteam [link] [comments]

Learn online Forex trading course in India with live charts and trading hours anytime and anywhere

In the video tutorial courses, you will learn how you can take advantage of currency movements to make profits. We will talk in detail about Currencies, Charts, Bulls & Bears, Short Selling, and much more from our professional traders having experience more than 20 yrs. Access and Learn everything you need to know to start Trading on the Forex Market today!
course from anywhere at any time according to your convenience.
Brainers provides online NISM Forex certification examination preparation with video lesson by expert trainers in a specified course. We provide lessons with live charts. We provide preparation for both beginners and investor.
We offer a diverse selection of courses from leading universities and cultural institutions from around the world. These are delivered one step at a time and are accessible on mobile, tablet and desktop, so you can fit learning around your life.
We ensure that they get the best learning, by one of the best professionals, at the best time and the best place of your choice.
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EUR/USD (6E) | Short Trade

EUUSD (6E) | Short Trade submitted by UC_Trading to FuturesTrading [link] [comments]

Join our binary options and Forex live trading room. Learn to trade and start profiting from global markets. Free Trial Available!

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Former investment bank FX trader: some thoughts

Former investment bank FX trader: some thoughts
Hi guys,
I have been using reddit for years in my personal life (not trading!) and wanted to give something back in an area where i am an expert.
I worked at an investment bank for seven years and joined them as a graduate FX trader so have lots of professional experience, by which i mean I was trained and paid by a big institution to trade on their behalf. This is very different to being a full-time home trader, although that is not to discredit those guys, who can accumulate a good amount of experience/wisdom through self learning.
When I get time I'm going to write a mid-length posts on each topic for you guys along the lines of how i was trained. I guess there would be 15-20 topics in total so about 50-60 posts. Feel free to comment or ask questions.
The first topic is Risk Management and we'll cover it in three parts
Part I
  • Why it matters
  • Position sizing
  • Kelly
  • Using stops sensibly
  • Picking a clear level

Why it matters

The first rule of making money through trading is to ensure you do not lose money. Look at any serious hedge fund’s website and they’ll talk about their first priority being “preservation of investor capital.”
You have to keep it before you grow it.
Strangely, if you look at retail trading websites, for every one article on risk management there are probably fifty on trade selection. This is completely the wrong way around.
The great news is that this stuff is pretty simple and process-driven. Anyone can learn and follow best practices.
Seriously, avoiding mistakes is one of the most important things: there's not some holy grail system for finding winning trades, rather a routine and fairly boring set of processes that ensure that you are profitable, despite having plenty of losing trades alongside the winners.

Capital and position sizing

The first thing you have to know is how much capital you are working with. Let’s say you have $100,000 deposited. This is your maximum trading capital. Your trading capital is not the leveraged amount. It is the amount of money you have deposited and can withdraw or lose.
Position sizing is what ensures that a losing streak does not take you out of the market.
A rule of thumb is that one should risk no more than 2% of one’s account balance on an individual trade and no more than 8% of one’s account balance on a specific theme. We’ll look at why that’s a rule of thumb later. For now let’s just accept those numbers and look at examples.
So we have $100,000 in our account. And we wish to buy EURUSD. We should therefore not be risking more than 2% which $2,000.
We look at a technical chart and decide to leave a stop below the monthly low, which is 55 pips below market. We’ll come back to this in a bit. So what should our position size be?
We go to the calculator page, select Position Size and enter our details. There are many such calculators online - just google "Pip calculator".

https://preview.redd.it/y38zb666e5h51.jpg?width=1200&format=pjpg&auto=webp&s=26e4fe569dc5c1f43ce4c746230c49b138691d14
So the appropriate size is a buy position of 363,636 EURUSD. If it reaches our stop level we know we’ll lose precisely $2,000 or 2% of our capital.
You should be using this calculator (or something similar) on every single trade so that you know your risk.
Now imagine that we have similar bets on EURJPY and EURGBP, which have also broken above moving averages. Clearly this EUR-momentum is a theme. If it works all three bets are likely to pay off. But if it goes wrong we are likely to lose on all three at once. We are going to look at this concept of correlation in more detail later.
The total amount of risk in our portfolio - if all of the trades on this EUR-momentum theme were to hit their stops - should not exceed $8,000 or 8% of total capital. This allows us to go big on themes we like without going bust when the theme does not work.
As we’ll see later, many traders only win on 40-60% of trades. So you have to accept losing trades will be common and ensure you size trades so they cannot ruin you.
Similarly, like poker players, we should risk more on trades we feel confident about and less on trades that seem less compelling. However, this should always be subject to overall position sizing constraints.
For example before you put on each trade you might rate the strength of your conviction in the trade and allocate a position size accordingly:

https://preview.redd.it/q2ea6rgae5h51.png?width=1200&format=png&auto=webp&s=4332cb8d0bbbc3d8db972c1f28e8189105393e5b
To keep yourself disciplined you should try to ensure that no more than one in twenty trades are graded exceptional and allocated 5% of account balance risk. It really should be a rare moment when all the stars align for you.
Notice that the nice thing about dealing in percentages is that it scales. Say you start out with $100,000 but end the year up 50% at $150,000. Now a 1% bet will risk $1,500 rather than $1,000. That makes sense as your capital has grown.
It is extremely common for retail accounts to blow-up by making only 4-5 losing trades because they are leveraged at 50:1 and have taken on far too large a position, relative to their account balance.
Consider that GBPUSD tends to move 1% each day. If you have an account balance of $10k then it would be crazy to take a position of $500k (50:1 leveraged). A 1% move on $500k is $5k.
Two perfectly regular down days in a row — or a single day’s move of 2% — and you will receive a margin call from the broker, have the account closed out, and have lost all your money.
Do not let this happen to you. Use position sizing discipline to protect yourself.

Kelly Criterion

If you’re wondering - why “about 2%” per trade? - that’s a fair question. Why not 0.5% or 10% or any other number?
The Kelly Criterion is a formula that was adapted for use in casinos. If you know the odds of winning and the expected pay-off, it tells you how much you should bet in each round.
This is harder than it sounds. Let’s say you could bet on a weighted coin flip, where it lands on heads 60% of the time and tails 40% of the time. The payout is $2 per $1 bet.
Well, absolutely you should bet. The odds are in your favour. But if you have, say, $100 it is less obvious how much you should bet to avoid ruin.
Say you bet $50, the odds that it could land on tails twice in a row are 16%. You could easily be out after the first two flips.
Equally, betting $1 is not going to maximise your advantage. The odds are 60/40 in your favour so only betting $1 is likely too conservative. The Kelly Criterion is a formula that produces the long-run optimal bet size, given the odds.
Applying the formula to forex trading looks like this:
Position size % = Winning trade % - ( (1- Winning trade %) / Risk-reward ratio
If you have recorded hundreds of trades in your journal - see next chapter - you can calculate what this outputs for you specifically.
If you don't have hundreds of trades then let’s assume some realistic defaults of Winning trade % being 30% and Risk-reward ratio being 3. The 3 implies your TP is 3x the distance of your stop from entry e.g. 300 pips take profit and 100 pips stop loss.
So that’s 0.3 - (1 - 0.3) / 3 = 6.6%.
Hold on a second. 6.6% of your account probably feels like a LOT to risk per trade.This is the main observation people have on Kelly: whilst it may optimise the long-run results it doesn’t take into account the pain of drawdowns. It is better thought of as the rational maximum limit. You needn’t go right up to the limit!
With a 30% winning trade ratio, the odds of you losing on four trades in a row is nearly one in four. That would result in a drawdown of nearly a quarter of your starting account balance. Could you really stomach that and put on the fifth trade, cool as ice? Most of us could not.
Accordingly people tend to reduce the bet size. For example, let’s say you know you would feel emotionally affected by losing 25% of your account.
Well, the simplest way is to divide the Kelly output by four. You have effectively hidden 75% of your account balance from Kelly and it is now optimised to avoid a total wipeout of just the 25% it can see.
This gives 6.6% / 4 = 1.65%. Of course different trading approaches and different risk appetites will provide different optimal bet sizes but as a rule of thumb something between 1-2% is appropriate for the style and risk appetite of most retail traders.
Incidentally be very wary of systems or traders who claim high winning trade % like 80%. Invariably these don’t pass a basic sense-check:
  • How many live trades have you done? Often they’ll have done only a handful of real trades and the rest are simulated backtests, which are overfitted. The model will soon die.
  • What is your risk-reward ratio on each trade? If you have a take profit $3 away and a stop loss $100 away, of course most trades will be winners. You will not be making money, however! In general most traders should trade smaller position sizes and less frequently than they do. If you are going to bias one way or the other, far better to start off too small.

How to use stop losses sensibly

Stop losses have a bad reputation amongst the retail community but are absolutely essential to risk management. No serious discretionary trader can operate without them.
A stop loss is a resting order, left with the broker, to automatically close your position if it reaches a certain price. For a recap on the various order types visit this chapter.
The valid concern with stop losses is that disreputable brokers look for a concentration of stops and then, when the market is close, whipsaw the price through the stop levels so that the clients ‘stop out’ and sell to the broker at a low rate before the market naturally comes back higher. This is referred to as ‘stop hunting’.
This would be extremely immoral behaviour and the way to guard against it is to use a highly reputable top-tier broker in a well regulated region such as the UK.
Why are stop losses so important? Well, there is no other way to manage risk with certainty.
You should always have a pre-determined stop loss before you put on a trade. Not having one is a recipe for disaster: you will find yourself emotionally attached to the trade as it goes against you and it will be extremely hard to cut the loss. This is a well known behavioural bias that we’ll explore in a later chapter.
Learning to take a loss and move on rationally is a key lesson for new traders.
A common mistake is to think of the market as a personal nemesis. The market, of course, is totally impersonal; it doesn’t care whether you make money or not.
Bruce Kovner, founder of the hedge fund Caxton Associates
There is an old saying amongst bank traders which is “losers average losers”.
It is tempting, having bought EURUSD and seeing it go lower, to buy more. Your average price will improve if you keep buying as it goes lower. If it was cheap before it must be a bargain now, right? Wrong.
Where does that end? Always have a pre-determined cut-off point which limits your risk. A level where you know the reason for the trade was proved ‘wrong’ ... and stick to it strictly. If you trade using discretion, use stops.

Picking a clear level

Where you leave your stop loss is key.
Typically traders will leave them at big technical levels such as recent highs or lows. For example if EURUSD is trading at 1.1250 and the recent month’s low is 1.1205 then leaving it just below at 1.1200 seems sensible.

If you were going long, just below the double bottom support zone seems like a sensible area to leave a stop
You want to give it a bit of breathing room as we know support zones often get challenged before the price rallies. This is because lots of traders identify the same zones. You won’t be the only one selling around 1.1200.
The “weak hands” who leave their sell stop order at exactly the level are likely to get taken out as the market tests the support. Those who leave it ten or fifteen pips below the level have more breathing room and will survive a quick test of the level before a resumed run-up.
Your timeframe and trading style clearly play a part. Here’s a candlestick chart (one candle is one day) for GBPUSD.

https://preview.redd.it/moyngdy4f5h51.png?width=1200&format=png&auto=webp&s=91af88da00dd3a09e202880d8029b0ddf04fb802
If you are putting on a trend-following trade you expect to hold for weeks then you need to have a stop loss that can withstand the daily noise. Look at the downtrend on the chart. There were plenty of days in which the price rallied 60 pips or more during the wider downtrend.
So having a really tight stop of, say, 25 pips that gets chopped up in noisy short-term moves is not going to work for this kind of trade. You need to use a wider stop and take a smaller position size, determined by the stop level.
There are several tools you can use to help you estimate what is a safe distance and we’ll look at those in the next section.
There are of course exceptions. For example, if you are doing range-break style trading you might have a really tight stop, set just below the previous range high.

https://preview.redd.it/ygy0tko7f5h51.png?width=1200&format=png&auto=webp&s=34af49da61c911befdc0db26af66f6c313556c81
Clearly then where you set stops will depend on your trading style as well as your holding horizons and the volatility of each instrument.
Here are some guidelines that can help:
  1. Use technical analysis to pick important levels (support, resistance, previous high/lows, moving averages etc.) as these provide clear exit and entry points on a trade.
  2. Ensure that the stop gives your trade enough room to breathe and reflects your timeframe and typical volatility of each pair. See next section.
  3. Always pick your stop level first. Then use a calculator to determine the appropriate lot size for the position, based on the % of your account balance you wish to risk on the trade.
So far we have talked about price-based stops. There is another sort which is more of a fundamental stop, used alongside - not instead of - price stops. If either breaks you’re out.
For example if you stop understanding why a product is going up or down and your fundamental thesis has been confirmed wrong, get out. For example, if you are long because you think the central bank is turning hawkish and AUDUSD is going to play catch up with rates … then you hear dovish noises from the central bank and the bond yields retrace lower and back in line with the currency - close your AUDUSD position. You already know your thesis was wrong. No need to give away more money to the market.

Coming up in part II

EDIT: part II here
Letting stops breathe
When to change a stop
Entering and exiting winning positions
Risk:reward ratios
Risk-adjusted returns

Coming up in part III

Squeezes and other risks
Market positioning
Bet correlation
Crap trades, timeouts and monthly limits

***
Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

How should I invest my money?

Just looking for some advice on my situation
I'm 28 on $70k/year with:
20k savings
20k student loan
3k ETFs(VTI)
My job is quite stable for the next few years fortunately. My goals are eventual home ownership but do not feel pressured to buy, although house prices are ever increasing and that the fact that I save more rent the sooner I buy are motivating.
What do?
Much appreciated.
submitted by Chell335 to PersonalFinanceNZ [link] [comments]

I’m done :/

Hi, I’m 16 borrowed 1k from my parents. I was confident i can be profitable after studying and trading paper money for 4 months. Basically after months of trading on a live account I blew up my 1k account. It was a good experience and somewhat knowledgeable. For the past few weeks I was up +500 then down -400 then finally I blew up my account. Shortly after blowing my account I’ve realized, trading might not be my thing or I just need more practice. This made me realize how much greed and how much trading is more of a psychological warfare. It was easy to stick to your trading plan using only 1-3% of your account per trade when your not using real money. My plan for now is to just try and get a job and return the money i borrowed (still scared to say i lost all the money) and keep paper trading for 6 months or longer.
Edit: Thanks for the advice and helpful comments as well as for the criticism. I’ve been reading the comments and getting the most value out of them. I’ve decided to follow some of the comments I think made the most sense. So here’s my plan:
  1. Get a part time job
  2. Pay back my parents
  3. Save money
  4. Learn, practice, learn forex
  5. Paper trade
Also a lot of people have asked me how in the world did I manage to trade when I’m only 16. Answer to that is my parents agreed to open an account under their own name.
Also thank you again for going out of your way giving advices. It really helps me out a lot.
submitted by TradingRam to Forex [link] [comments]

Wannabe trader in Europe desperate for cheap broker.

I live in Europe(not uk) and am so struggling to open a broker account. I've been reading books about daytrading and what not but here wanting to start low doesn't seem possible. Is anyone here from Europe? Do you know some really cheap( if not commission free) but that has pretty big range of companies to buy stocks on Us market? Especially penny stocks, I mean fixed commission per share can be really expensive if the share is less than a dollar. And please not brokers that sell only CFDs(like eToro or Trading212) . I'm really struggling to find a cheap broker being European resident, and willing to start with little money. I've tried Revolut but it only has major companies to buy stocks from, and doesn't really look reliable at all. I tried to make account on Td Ameritrade, found out can't. Then on Interective Brokers, and found out after making the account it was available only Pro version(the paid one) out of Us (and that's at least 20$ per month). And have been considerig many more brokers. Can you please let me know if there is any good and reliable broker for someone from Europe, that wants to start with penny stocks on Us market, with a capital as low as 50$?
I'm getting desperate here.
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Learn how to trade Forex Currency Trading Charts and live day trading room: Yen stengthens, dollar weakens swiss franc down June 30

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Is it worth it to buy a forex course on udemy?

Hey guys, I’m relatively new to forex trading. I have some really basic understanding on terms and definitions and whatsoever because I read through some of the lessons in babypips already. Plus, I was also wondering if enrolling in an online course would be worth it? I wanna hear some opinions but please go easy on me lol thanks a lot
submitted by jakeyperaltaaa to Forex [link] [comments]

IML/IM ACADEMY/TRADEHOUSE/FOREX

I have been involved with an organization called Tradehouse that is affiliated with the popular MLM IML/IM MASTERY ACADEMY/whatever name they go by now... sadly for a few months now. If you have any friends or family that are involved with either of these entities - please get them out if you can. They have probably already been roped in and indoctrinated with the language that the community uses (which often includes every clap back and argument in the book) but please try anyways.
They get you in by leveraging the higher ups in their organization ("chairman") and showing them live their lavish lifestyles.. and imply that you can too. As soon as you're welcomed in you're lovebombed and called "family" by everyone in this massive telegram group chat. And then it's radio silence right after. You're assumed to learn everything that you can about trading on your own. And soon you realize it's impossible because retail trading involves SO much risk.. which is exactly why many DON'T... lmao. You're literally trading against big banks and hedge funds. And if you don't know anything about trading let me tell you something that you might not know yet - for every winner or winning trade there is a loser. Banks can afford to trade because they are going in trades from both positions and skimming off the top of the profits. Retail traders? Yeah we aren't so lucky lol. So you realize that trading isn't as easy as it seems.. but your monthly payment is coming up and you have to do something. Here is where they get you - once you sign up (RECRUIT) two people you get your monthly fee waived (mind you.. JUST FOR THAT MONTH). The pressure is then on you to flex a lifestyle you don't have yet, in order to sell people a dream you aren't even living. All to avoid a monthly charge that they are going to have to handle unless they start the same cycle.. It's honestly horrible.
The whole thing is just slimly. Everyone that is brought in is indoctrinated and taught to say the exact same things, just mindless robots. "Its all about the mindset if you're losing it's on you" "Forex isn't a scam" "broke mindset" just the dumbest stuff..
I’m making this post to anyone on here that was like me, just looking for all the information that they could about what they think or thought seemed like a good idea, but suddenly doesnt.. your conscience knows. It’s okay to get roped into these things, they are marketers after all. You aren’t stupid for joining or inquiring, and if you’re in it already like me you can make it out. You’ve already done the first step and that’s look outside of the bubble.. time to pop it.
Anyone that has any questions about the above groups, advice or stuff you’d like to hear about my experience please drop it in the comments. I’m not sure how reddit works still lol but I’m always free to help.
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Another sceptical novice trader!

I see all the posts and comments, articles on websites, etc saying it is stupid hard to become profitable that you might as well not even start. Also saying if you don’t have sufficient starting capital you’re pretty much doomed from the start. Im a young guy(18 years old) with about 3-7 thousand dollars total at the moment in all bank accounts that can be used to trade forex. I’m also a newbie.and am very naive when it comes to thing and believe almost everything I hear. I would really appreciate your professional discretion to help me decide if I should continue down this route(almost 2 months so far) or not and if it can even be done at my level:( I find learning about trading very interesting and facinating!
If I decide not to I will probably try dropshipping again or FBA, maybe even affiliate marketing. Something business related. I fucking hate school and hate jobs!
I want FIRE(financial independence, retire early) a a younger than average age. I want to be able to enjoy life and the luxuries it offers without being tied down by a dead end job!
submitted by dylan_2210 to Forex [link] [comments]

Despite having all my family and friends next to me, I feel so alone when trading forex?

I can talk about trading with my friends and family whenever I like and they listen to me and try to understand. But when I'm actually trading, I feel so alone even when my family are right next to me. I think it's because I am 100% responsible for my account. It's not like a regular 9-5 job where if you screw up, you don't take all the blame. And even if you do, the problem gets sorted by someone else while you get a little slap on the wrist. When you're trading, your problems are your own. You have to sort it out yourself, and that can feel a bit isolating at times. Does anyone else feel this? Not trying to be im14andthisisdeep, just saying how I feel. I made a £78 loss today. Maybe I'm just being too dramatic and letting my emotions get to me. Either way, I will be taking a break this week and resume trading next Monday.
submitted by RapidActionBattalion to Forex [link] [comments]

Is making a living trading Forex possible?

Hey everyone!
First let me give you some background. I live in Mexico, I'm a scientist (Biotech), but science is the least priority in Mexico, never the less I'm one of the lucky ones in Mexico, because only 10% of the population in Mexico makes more than $440 usd a month ($10,000 pesos), and I'm currently making around $500 usd a month.
You might think, $500 a month and you are part of the top 10%?, yup, that's life in Mexico. I already spent 6 years in college, I'm totally willing to spend another 10 years learning a new skill if that means at least making more that $500 usd a month.
I've been studying technical analysis for the past year, and I've been trading on a paper account for at least 6 months, but I'm nowhere near profitable.
Yes, I'm setting a stop loss, yes I'm only taking at least 1:3 risk reward trades, yes I'm only risking 2% per trade, but I'm still loosing money.
Is it possible to make a decent living trading Forex? I know one year of experience is nothing, I didn't learn to play the guitar in a single year, but I wonder if I'm better spending my next 10 years in another skill like marketing, or something else.
submitted by yared_cf2 to Forex [link] [comments]

Forex Trading in Kenya.

Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while.
FIRST OF ALL, who am I..?
I am a forex trader, in Nairobi, Kenya..i have been actively