How to Trade Forex Market Successfuly?

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found this guy on instagram that trades forex “for a living” andddddd...

found this guy on instagram that trades forex “for a living” andddddd... submitted by ____okay to Cringetopia [link] [comments]

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.
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Reddit Forex Scalping: 4 Strategies To Make Money Trading Forex For Newbies

Reddit Forex Scalping: 4 Strategies To Make Money Trading Forex For Newbies

4 Forex and Stocks Scalping Strategies Reddit

We take a look at scalping trading strategies, as well as some useful indicators.
https://preview.redd.it/rb33l4c42nw51.jpg?width=600&format=pjpg&auto=webp&s=c225b90045dcd566f5a85e09cf51d887a1b69ed7

What does scalping mean?

Scalping is a type of trading strategy designed to profit from small price changes since the benefits of these transactions are obtained quickly and once an operation has become profitable. All forms of trading require discipline, but because the number of trades is so large, and the profits from each trade are so small, a scalper must rigorously stick to their trading system, to avoid large losses that could eliminate dozens. successful operations.
The scalper traders: they will take small profits to take advantage of the gains as they appear. The goal is a successful trading strategy by means of a large number of profitable trades, rather than a few successful trades with large profits.
The scalping of the idea of a better risk exposure as the current time each operation is quite short, which reduces the risk of an adverse event that causes a big move. Furthermore, it is considered that smaller movements are easier to achieve than larger movements and that smaller movements are more frequent than larger ones.
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The best scalping strategies

  1. Stochastic Oscillator Strategy
  2. Moving average strategy
  3. Parabolic SAR Indicator Strategy
  4. RSI (Relative Strength Index) Strategy

Reddit Forex Scalping Strategies:

1- Scalping trading using the stochastic oscillator

Scalping can be achieved by using the stochastic oscillator. The term stochastic refers to the current price point relative to its range over a recent period of time. When comparing the price of a security with its recent range, a stochastic tries to provide potential changes. The scalping using said oscillator aims to capture the movements of a market trend, ie, one that moves up or down accordingly. Prices tend to close near the extremes of the recent range before a change occurs, as in the example seen below:
https://preview.redd.it/7wy3ixui2nw51.png?width=1397&format=png&auto=webp&s=91f50d685dd4841015c51322cee9fb90701aad33
the chart above, for Brent over a three minute period, we can see that the price rises even higher, and the lows in the stochastic (marked with arrows) provide entry points for long trades, when the black line of% K is crosses over with the red dotted line of% D. The operation is exited when the stochastic reaches the maximum value of its range, above 80, when a bearish convergence appears, when the line of% K crosses below with% D.
Rather, short positions would be used in a downtrend market, as in the example below. This time, instead of 'buying dips', we are 'selling raises'. Therefore, we will look for a bearish convergence in the direction of the trend, as highlighted below:
https://preview.redd.it/y3qqvejs2nw51.png?width=1398&format=png&auto=webp&s=627f3ded47e901c1f9ea97d5416caeea49b9dc3f

2- Scalping using the moving average

Another method is to use moving averages, usually with two relatively short-term and one longer-term to indicate the trend.
In the examples below, on a three-minute chart of the EUR / USD pair , we are using 5- and 20-period moving averages in the short term, and a further 200-period moving averages in the long term. In the first chart, the longer-term moving average is rising, so we expect the five-period moving average to cross above the 20-period moving average, and then we take positions in the direction of the trend. These are marked with an arrow.
https://preview.redd.it/22jquy1z2nw51.png?width=1499&format=png&auto=webp&s=ed4f724384b86f95dff584c596e25652f23f240d
In the second example, the long-term moving average is declining, so we look for short positions when the price crosses below the 5-period moving average, which has already crossed below the 20-period moving average.
https://preview.redd.it/0tl7mky23nw51.png?width=1496&format=png&auto=webp&s=ca7b44138901537185d9e0dbd639a799407ced08
It is important to remember that these trades are trending and that we are not trying to find and capture every move. As in any scalping strategy, it is essential to have good risk management with stops, which is vital to avoid large losses that could eliminate many small gains quickly.
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3- Scalping with the use of the parabolic SAR indicator

The Parabolic SAR is an indicator that highlights the direction in which the market is moving and also tries to provide entry and exit points. SAR is the acronym for ' stop and reversal ', which means stop and revocation. The indicator is a series of points placed above or below the price bars. One point below the price is bullish and one point above it is bearish.
A change in the position of the points suggests that there is going to be a change in trend. The chart below shows the DAX on a five minute chart; You can open short trades when the price moves below the SAR points and long when the price moves above them. As you can see, some trends are quite widespread and at other times a trader will encounter many trades that generate losses.
https://preview.redd.it/35uo837g3nw51.png?width=1498&format=png&auto=webp&s=f020a461c6ff1f8d49fab381da0713b1de75dbf7

4- Scalping using the RSI

Lastly, investors can use an RSI strategy to find entry points that go with the prevailing trend. In the first example, the price is rising steadily, with three higher overall moving averages.
Downs in the trend are to be bought, so when the RSI drops to 30 and then moves above this line, a possible entry point is created.
https://preview.redd.it/fkk1df2k3nw51.png?width=1499&format=png&auto=webp&s=8e9b4c7b1af0d0732793ddf5dc462aeaa7321dc9
Conversely, when the RSI moves to 70 and then begins to decline within the downtrend, an opportunity is created to 'sell the rally', as we have seen in the example below.
https://preview.redd.it/dlq4ge7p3nw51.png?width=1497&format=png&auto=webp&s=10eb4baf8bd92a4e0e33905464859b73871a6201
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What do you have to know before starting scalping strategies Reddit?

The scalping requires the trader has an iron discipline, but also very demanding as far as time is concerned. Although long-term times and smaller sizes allow investors to move away from their platforms, given that there are few possible entries and can be controlled remotely, scalping requires the investor's full attention.
Possible entry points can appear and disappear very quickly and therefore a trader must be very vigilant about his platform. For individuals who have a day job or other activities, scalping is not necessarily an ideal strategy. On the other hand, long-term operations with higher profit objectives are a more suitable option.
It is difficult to execute a successful scalping strategy. One of the main reasons is that many operations need to be performed over time. Some research in this regard usually shows that more frequent investors only lose money faster, and have a negative capital curve. Instead, most investors are more successful and reduce their time commitments to trading, and even reduce stress by using long-term strategies and avoiding scalping strategies.
The scalping requires quick responses to market movements and the ability to forgo an operation if the exact moment has passed. 'Chase' trades, along with a lack of stop-loss discipline, are the key reasons why scalpers are often unsuccessful. The idea of ​​only being in the market for a short period of time sounds appealing, but the chances of being stopped out on a sudden move with a quick correction are high.
Trading is an activity that rewards patience and discipline. Although those who are successful with scalping do demonstrate these qualities, they are a small number. Most investors do better with a long-term view, smaller position sizes, and a less frenetic pace of activity.
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Volume Oscillator Testing | How to Trade Forex for Beginners 2020

Volume Oscillator Testing | How to Trade Forex for Beginners 2020 submitted by TheAcademyofForex to u/TheAcademyofForex [link] [comments]

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True Strength Indicator Testing | Swing Trading Forex for a Living

True Strength Indicator Testing | Swing Trading Forex for a Living submitted by TheAcademyofForex to u/TheAcademyofForex [link] [comments]

Advice on trading forex for rich folks?

If I have a few requests from my well-to-do friends and relatives to help them trade forex as another source of income, how do I set up such a system where it's legally transparent and agreeable for both parties?
These people have known me for many years and acknowledge my passion, technical skill, and background in trading equities and forex over the past 8 years. They have repeatedly asked me to trade for them over the years but I'd been holding off because I want to convince myself that my results are now consistently positive enough.
Assume that:
- I can prove my consistent profits on paper (i.e. displaying my broker's live account records).
- I personally know these people and they believe they can trust me with some of their disposable money. But I also want to make sure they realise that there will be drawdowns at times or no profit at all.
- I don't want to trade for strangers on the Internet.
- They have no interest/time to learn how to trade forex so it's attractive to have another trusted person to do so.

I'm thinking of not charging them anything until they see consistent profits after XX months/weeks.
Do I mix their funds in my own broker account or using a totally separate one? I use only Daily TF and obviously hold for weeks/months sometimes. I average much lower than 10% per annum but have reached close to 13% in some months.
I'm nowhere close to actually going with such plans. I'm not sure whether it's a good or bad idea but I think it's worth thinking about. Google results usually link to forex prop firms. So I do appreciate some perspective.
Thanks all.
Merry Christmas.

EDIT: I've thought about applying to a forex prop firm but I'm still leery of those. Plus, their requirement that you can't hold your positions over the weekend just turns me off.
EDIT2: Thanks for all the replies! Lots to think about...
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I have been trading Forex for a while now, but noch I feel burned out. Any Recommendations?

Hello, I've been trading Forex here and now over the last 4 years and was pretty consistent with making profits through swing trading and price action.
But now I came back after 3 months and was only able to make 2k in the last four weeks.
And with every trade I take, I feel really insecure and started to doubt my analyses.
Any recommendations how to get out of this?
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Technical and Fundamental trading: Forex for beginners 2020 (Lesson 11)

Technical and Fundamental trading: Forex for beginners 2020 (Lesson 11) submitted by HowToForexTutorials to u/HowToForexTutorials [link] [comments]

Is there here someone who trade forex for a living?

I've always been curious about the trader life. Do you have freedom? Is it a boring life? Do you trade all day long or just a few hours per day?
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[PDF] How to Day Trade Forex for a Living: A Beginner s Manual for Day Trading Currency - Proven Money-Making Strategies (How to Day Trade for a Living) By Bryan Lee

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The FX Robot Method - Trading Forex For A Living

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How To Trade Forex For Beginners

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I'm moving to Japan and I'm interested in trading Forex for my income

I'm getting married and moving to Japan. My fiancee is Japanese and currently lives and works in Tokyo. I have a few questions about trading Forex and the feasibility of doing it full time for income. I can find a job in Tokyo easily, but I want to try this first. On to the questions.
  1. I will have approximately $160,000.00 dollars for use. Obviously, I don't want to risk it all. I would like to know what is a reasonable goal in regards to a monthly return? Is a consistent 5% monthly return out of reach?
  2. Living in Japan, what would be a good broker to use?

  1. I'm currently reading Day Trading for a Living by Andrew Aziz. Besides his chatroom, are there any other recommended chatroom that are recommended?

Any other advice is much appreciated.

Thanks for the help!
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Started trading forex for first time, turned $60 into $500 my first week and half of trading. What's next?

Hi all! I am currently a full-time, 22 year old student living in the west coast. Forex caught my eye when I saw and read about many people who accumulated their wealth over their skills of trading.
I immediately started to research what forex was, and decided to take a stab at the market. I did do a fair share of research on the forex market, but eventually got tired of the constant links to websites of these "online forex gurus" offering me their "secret sauce" for a large check. As a student, I can't even afford half of it!
Anyways, I initially put in 20, but lost my money pretty quickly in the Gbp/Jpy, an decided to deposit another 40, as a compromise of trying out and depositing into forex for the second and final time. From there, it's difficult to describe exactly, but I just started making trades on my guess of where the market was going to move. I would just rely on my instinct of watching the market, and by looking at the past history for that pair. I'm a noob, I know.
Now, I turned my $60 into about $540~ and don't know what to do. I really enjoy trading, but at the same time, now that my account is at $500 dollars, I feel a bit scared that I can lose that money through careless trading. If anyone here has any advice or comments on what I should/should not do, I would really appreciate it! Thanks all
Tl;dr I'm a noob trader who made $60 into $500 and don't know what to do next
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I have been trading Forex for 7 months. AMA

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