Can I Become A Millionaire Trading Forex? 1 to 24 month ...

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 involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since.
I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass.
What the fuck is forex and forex trading.
In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend.
These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell)
Is forex trading illegal in Kenya? Is it a scam?
Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019)
Have there been scams involving forex in Kenya?
Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable.
However, by the end of this post, I hope you won’t fall for such silliness.
What next how do I make it work..?
Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that.
The second route is more practical, structured and smarter.
First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car.
Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored.
The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc
Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you.
Here are some nice YouTube channels to watch. These guys are legit..
  1. Sam sieden
  2. Cuebanks
  3. TheCoinFx
  4. The trading channel
  5. Astro
  6. Forex family
  7. Wicksdontlie
Advanced stuff
  1. ICT
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off.
How long will it take until things start making sense
Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee.
Social media, Mentality, Psychology and Books
Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed.
Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you.
Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch.
Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn.
This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts.
Brokers
You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it.
Money transfer.
All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.)
How much money can I make..?
I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make.
How much money do I need to start with..?
Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds.
Taxes..?
Talk to a lawyer or an accountant. I am neither.
Family? Friends?
Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it.
The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together.
Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job.
And now it is 5am, fuck.
This is oversimplified and leaves out many many aspects.
Happy to answer any questions.
submitted by ChaliFlaniwaNairobi to Kenya [link] [comments]

The rise of fake Gurus

The rise of fake Gurus
https://preview.redd.it/s8df6kzd0tw51.jpg?width=1200&format=pjpg&auto=webp&s=1415af6b476b3ad00d3fcb6a8769de347b2a132d
Today, we are going to discuss how the rising of fake gurus from YouTube actually hacking our brain and trapping us to gambling in the stock market by using their attractive thumbnail and live webinar. In the end, we will discuss how to avoid being trapped. Please read this article seriously because we have made it very simple for you to check who is good or bad.
We Indians feel good when someone gives us something free of cost whether that content is valid or not, legit or not we hardly verify the facts. We can accept anything & everything IF it is free of cost. Didn’t you experience it?
At first, we are going to talk about why 95% of stock market-related content on YouTube is bullshit and fake which will not give you satisfactory results what they are claiming in the thumbnail. It’s so funny that I identified there in one video thumbnail that claimed to quit your job to become a millionaire by following his strategy. Seriously, Guys?
There are millions of fancy strategies stated as no loss strategy, guaranteed monthly income strategy, 100% working strategy, intraday tricks which will never give you loss, how to earn 1 Cr in one day, Become warren buffet in 3 simple steps, how to get your money double in options trading, etc, etc
You know guys what is the most fun thing? There are millions of views on their videos. It’s clearly indicating that we are the ones viewing all those videos that resulted in getting us trapped. Isn’t it?
How is it possible that someone without any experience will come and tell us how to make millions from the stock market? Guys, think logically does that possible? Have you ever verified their article before practically implementing it in the live market by putting your hard-earned money? Why are you using even in the first place?
Believe me, no one can make you rich in the stock market. It’s only your right and quality knowledge, dedication, and focus that can change the way you see the stock market. No amount of information will provide you an edge or trading improvement until and unless you experience it by yourself practically by implementing.
For egg: whatever we share at AfterVision, we do it with full confidence because we only share a backtested system that we have achieved after 11 years of deep research & experience. Believe in the result, don’t just focus on fake and manipulated promises.
Any single mistake in the stock market can make your capital zero. You have to control and focus on your Psychological process and implementation with the combination of Disciplined because these both play an important key role in the stock market then come last our so-called strategy. The strategy has no value if you don’t have an advanced system which can give you a better risk-reward ratio and clear cut entry and exit mechanism.
Never join anybody if someone is making fake promises to give you more than a 10% return per month consistently. But, the funny thing is no one will talk about less than 30-50% of the capital return. Amazed? Don’t be the one to get trapped though!
Never be dependent on any tip provider, signal or software, etc because trust me it is a bullshit idea of selling tips and indictors which doesn’t work seriously. They don’t trade themselves because it’s easy for YouTubers to create a 5 min video explaining about anything and showing some fake screenshots to trust us easily on them. YouTube is like their Dukan(shop), the business turnover is depending on our views we give to them that why they always come up with some choosy and fake caption and thumbnail such as 100% capital double, no loss strategy, etc so that viewers will click often on their video by getting trapped.
Youtuber and live webinar guys will emotionally sell you some sort of snack oil of how you can change your life by joining their superficial level program. I am not telling you that all are bad. But, I can tell you 6 out of 10 are selling craps on the name of courses. I have got to join so many courses in the last 6 months to experience ranges from Indian to Forex guys. They are just bragging about indicator on the name of courses. That’s it. We already know indicators don’t work all the time. It’ll give you 3 times signals within 30 min. You’ll confuse about whether to buy or sell. That’s what the techniques they are claiming to work 100% of the time in any market in any situation.
Why we are different at AfterVision?
First of all, we don’t ever promise you to give 100% result because there is no perfect system in the world which can give you 100% result.
We don’t sit and trade the whole day that’s a fishy system to sit the whole day to make money. At AfterVision, Only 45-60 min is enough to make money if you are a serious trader. We focus on a one-to-one basis live session rather than providing a crowd or batch where no one can ask questions openly.
We don’t talk about any kind of indicators because believe me it is just crap, will only confuse you in the end. we believe in logical trading, if you are not getting any logic to take an entry or exit then simply we sleep that day without doing trade.
We never focus on more than 5 trades in a month because we believe in quality rather than just focusing on quantity. We provide 24*7 doubt sessions with lifetime support. Yes, anytime you can call at AfterVision to take any support.
Click here - http://blog.aftervisioneducation.com/the-rise-of-fake-gurus/
submitted by aveducatioseo to u/aveducatioseo [link] [comments]

Is this guy telling the hard truth?

I always dreamt of becoming a multi millionaire in 5 to 10 years but this guy has brought an interesting point to the table:
Day Trading Market Ceiling There also a Day Trading Market Ceiling. A successful day trader (not an investor, though) will eventually get capped out, as the market simply can’t accommodate an infinitely increasing position size for a particular strategy. To make more the trader either needs to alter the strategy, or also trade something else…and this may or may not work. Change one thing and you can’t assume all else will stay the same. To attain the returns discussed in the “How Much Day Traders Make,” multiple trades are made each day. Trades are likely only lasting a couple minutes. While multiple-millions of dollars worth of stocks, futures or currencies may change hands over the course of couple hours, day traders have precise entry points. Therefore, position size is limited to the amount of liquidity (volume) available at the exact moment a trader needs to get into and out of trades. Investors, hedge funds and mutual funds can accumulate or dispose of positions over weeks, taking advantage of days or even weeks worth liquidity. Day traders don’t have that luxury. It doesn’t matter if a stock trades millions of shares a day; if there is only 100 shares available when they need to take the trade (based on the strategy) that’s all they get. That’s an extreme example, but at any given moment there isn’t infinite liquidity available–there is what there is, and that means there is a limit to how big of a position you can accumulate and dispose of when your strategy calls for it. Based on personal experience, in day trading forex I wouldn’t be comfortable taking more than 5 standard lots on a day trade. Some may take more, most traders would take way less. Taking a larger amount would mean significantly increased risk of slippage or partial fills (you end up with the whole position on losing trades, but only partial positions on some winning trades). Possible gains attained by taking a larger position are offset by these negative factors. At 10:1 or 15:1 leverage a forex day trader–using a day trading forex strategy similar to mine— may cap out at around a $50,000 to $75,000 account (including leverage, that means trading close to $1million). Beyond that, they may find little additional gains, unless they alter their strategy, take longer term trades or stagger their entries and exits at various prices. Changing a strategy to accommodate a larger position isn’t a bad thing, but it takes additional research/practice time…and is it worth it? Only each individual can answer that for them self. In the ES futures market I cap out at about 10 contracts, and that only requires a $40,000 to $75,000 account (maybe even less depending on how much you risk per trade). There is no reason to trade more in my opinion. Could you day trade more contracts? Sure, you could probably get away with 100 contracts some days/some trades…but why? It would take a long time to work up to carrying those sorts of positions, and even trading a few contracts can produce a good living. The same goes for the stock market. Even in a very liquid stock or ETF like the SPDR S&P 500 (SPY) you will hit a limit on how much you can effectively trade on a short time frame. It may be a big limit, but you do hit it. To see the minimum amount of capital you need to day trade, see How Much Do I Need to Become a Day Trader. The bottom line is that you hit a limit on the amount of capital you can utilize effectively, and beyond that your percentage returns will likely decrease. For example, it’s much easier to make 10% a month on a $20,000 account than it is to make 10% a month on $20,000,000. That means day trader tend to withdraw all proceeds over and above their “efficient capital limit.” So a $50,000 day trading forex accounts stays a $50,000 account and monthly profits are withdrawn and spent (like any other job) or allocated to something else. In other words the account doesn’t keep compounding indefinitely, the trader nor the market can withstand doing that…there are ceilings…psychological, natural (life) and structural (market).
Source: https://vantagepointtrading.com/why-day-traders-can-make-big-returns-but-arent-millionaires/

The entire article is a good read. Go read it. But in a way this shattered my dream. So tell me is this guy telling the hard truth or just bull shitting?
He also says that he has met a lot of day traders and most make between 50,000 to 200,000 per year. So aiming for that is a more "realistic goal" then making close to a million dollar per year.
submitted by geardrivetrain to Daytrading [link] [comments]

I did it.

12 years of disciplined boring investing almost all in SPY and later VOO and I am a millionaire in my late thirties.
900k from index funds and 200k from real estate.
Started with zero. No inheritance. Separate money from my wife (not counting her assets or contributions). Made mid five to low six figures income the whole time. One kid... now two.
edit 1
I actually did not thing anyone would respond to this but a lot of people did. Some asked for proof. Here it is. Omitting real estate holdings. https://imgur.com/a/zI9UWJa
Also including credit report - no debt outside a used car loan because I will not pay cash when I get money at 3.49%.
Edit 2
People asked for more details.
At a high level I have been investing / studying markets since I was very young. I tried everything (internet stocks, FOREX, Options, Futures, small caps etc) coupled with fundamental and technical analysis. Did OK, even won second place in a trading contest but never got what I wanted.
Like many people I made bad decisions and had divorce, job loss, etc. Even had to close out an IRA in my twenties.
Ended up turning to a disciplined index fund strategy about 12 years ago.
Strategy was to max out 401k and live below my means (old car, no cable tv, make my own food, etc). At the end of each month swept all my pennies into an after tax fund since my 401k was maxed. That is it. Make your own coffee and buy VOO or SPY ideally in a tax advantaged account.
I road this through the 2008/2009 crash - kept my investments and bought more.
I also have small (like 5% of my money) in Bitcoin, Tesla and Pot stocks. This is purely for fun.
A couple people mentioned this was just luck. I think it is important to understand the market will move up, retrace, consolidate and then move higher. The timing of this is somewhat luck. The strategy part is live below your means, buy and accumulate positions for years so when a bull market hits you are in. I guess you can call each runup "luck" except people keep living in debt no matter what their income. I would much prefer people take away an investment strategy that does work if you are a disciplined from someone not born rich and who tried a lot of different strategies.
The takeaway really is with education and discipline you can reach a level of financial independence even after many screwups. I can publish this simple system and honestly few will follow it... There are no ads, systems to buy or affiliate links. I make zero dollars sharing this. I make my own coffee and watch netflix. I invest the rest in index funds. Take a trip or buy something if it really is important to me. That is it.
Edit 3
People asked what is next. Teach my six year old and newborn savings and investing. Opening a ROTH* for the 6 year old and custodial brokerage account for the new addition. They will have millions as a safety net at retirement. They will now know about this money and will need to find their own path in life.
Staying in the market, if it crashes I will buy more.
Stating in until I reach 5-10 million. Don't need the money for a long time...
submitted by ControlPlusZ to investing [link] [comments]

Why forex isn't the Holy Grail (?)

I don't understand why people say it's impossible to become rich in short time with forex.
Let's assume we have a strategy that has a winrate of 50% with a r of 1:1.25 (not so strong or impossible, right?). We are daytrading it and we can open 60 operations per month. We risk 2% (a conservative approach) per trade of initial capital of the year, starting with 5000. With these numbers we are gaining 15% each month, let's lower that down to 10% because yes. Within a year we can make 120% of initial capital! Let's lower that down to 100% because, again, yes.
After 8 years we would be more than millionaire.
If we could bring up that r to 1:1.5 we would be millionaire in 5 years (and billionaire in 12!!!!).
I don't understand why this is wrong, why people keep saying that trading isn't the Holy Grail. 1:1.25, 50% winrate is the lowest working strategy I could imagine and still would be extraordinary even though I've lowered that down even more.
What's wrong with this? What am I missing?
P.s I'm backtesting a strategy that is doing 45% winrate with 1:2 r and 80+ possible operations per month. I feel like I'm going to eat golden nuggets in few years! Please roast me!
submitted by Scrotus_8 to Forex [link] [comments]

An Honest Review of T3 Newsbeat Live

T3 Newsbeat Live is run by Mark Melnick, a 20-year veteran trader from New York. According to him, he made his first million at the age of 19 during the dot-com boom back in the late 90s.
He claims that his trading room is the fastest growing trading room at T3 and also the Wall Street’s #1 trading room. You can see this in the description of his videos on Youtube.
He is a big proponent of reaching the highest win rate possible in trading. He openly shares some of his trading strategies in free videos and claims that some of his strategies are batting over 70% or even 80 %.
He also often says that some of the members enjoy a win rate over 90% using his strategies.
I will let you be the judge of this.
Self-Promotion
He makes a lot of videos to attract new people into his trading room. His daily videos are uploaded on Facebook and Youtube almost daily even on Weekends (mostly excluding Friday evening & Saturdays).
In so many videos you’d hear him talking about how his trading room has an edge over other trading rooms while bashing other trading rooms as a whole.
He often talks about how his trading room bought stocks/options at the near bottom or shorted at the near top using his “algorithmic analysis” which can be applied to all markets (stocks, future, forex, crypto).
Piques your curiosity, right?
In fact, that’s how I got to give his trading room a try.
“Who in the hell wouldn’t want to catch the top & bottom in the markets, right?”
So, you would think people in his room and himself are making a killing using his algorithmic analysis?
Not so fast… (in fact, his algorithmic analysis is just drawing trendlines and identifying the most probable support and resistance)
When it works (of course, nothing works 100% of the time), you are able to catch just few cents off the top and bottom when it works if you follow his trade.
However, you have no idea how long you’d have to hold your position. Mark doesn’t know either.
So, he usually goes for nickels and dimes and rarely holds a position longer than 5 minutes.
Even if he’s good at picking bottoms and tops, you’d often risk more than nickels and dimes just to make nickels and dimes. Make sense, right?
…….
…….
…….
Also, because he gets out of his positions fast, he misses out on riding some potentially big trades.
Oh, how I wish stay in that position a bit longer. He doesn’t say but one can surmise that he often leave too much on the table.
Of course, it’s important to take your profit fast when you scalp but you consistently leave too much on the table like he does, one has to wonder if he has any system for taking profits (otherwise, it’s all discretionary guessing).
This type of bottom/top picking is not his main strategy, though.
The strategy that makes him the most amount of money might surprise you. I will get to this later.
How Mark Trades (Mark’s Trading Setups and Strategies)
Mainly, he scans the market in the morning for earnings reports, analysts’ upgrades/downgrades and other catalysts that have potential to make moves in the market.
He openly shares his mockery or insult of analysts, calling certain analysts “idiots” or “imbeciles”.
He puts on his first trade(s) early in the morning (from 9:30AM to 10:00AM Eastern Standard Time) when the market move is the most volatile.
Some of his strategies use market order during this period of volatile time using options. You can see why this can be very risky and especially on thinly traded options with side spread.
He does point out this but sometimes you hear people in the room stuck in an options position that they can’t get out.
Just like his trades from calling the top/bottom of a stock, he gets in and gets out of a position within minutes if not seconds while going for nickels and dimes while staring at 1minute and 5-minutes charts.
That applies to most, if not all of his strategies. (Yes, sometimes he does catch bigger moves than nickels and dimes.)
When you trade during the most volatile time in the morning, you’re subjected to wild moves in both directions. If you’re overly prudent or inexperienced in trading, your stop (unless very wide), has a very high chance of hitting. A lot of times it might stop you out and go in the direction that you predicted.
So, when you’ve been trading during this time, you’d probably don’t set a stoploss order or a hard stop to avoid getting fleeced.
You do have to be proactive at cutting your loss as quickly as possible. Otherwise you’d find yourself scrambling to get out your position while the bid keeps dropping.
I have to say that Mark is very cautious and he does get out of trades very fast if he has doubt.
A lot of times he lets out exhausting, heavy sighs and even murmurs some swear words when things don’t seem to go the way he wants in a trade. Besides calling certain analysts, “imbeciles” and “idiots”, this is quite unprofessional but no one in the room has the gut to point things out like this.
The irony is that he is the “head of trading psychology” at T3 and it doesn’t seem like that he doesn’t have much control over his trading psychology and let alone his emotion.
People in trading chatrooms, like a herd of sheep, as a whole exhibit herd mentality. Even in an online chatroom, you don’t often see someone ruffling feathers and say what they really want to say.
This is probably because of the certain amount of people believing whatever he says without questioning the validity and quality of his comments.
He has several strategies and according to him all of them have win rate over %70.
However, he also comes up with new strategies as often as every month. He either comes up with new strategy or tweaks his existing strategies.
According to him, the reason is that the market is always evolving and you need to constantly adapt yourself to the ever-changing market environment.
What do you think? Does this sound like someone with an edge?
And for someone who scalps for nickels and dimes, he claims to have the highest Sharpe Ratio that he has ever seen in the industry. I’m NOT making this up. He often utters remarks like “My Sharpe Ratio is one of the highest I’ve seen in my twenty-year trading career.”, “I want to create a of traders with a very high Sharpe Ratio.
How can you achieve a high Sharpe Ratio when you scalp all the time?
And let’s not even talk about commissions generated from frequent scalping.
Who cares about commissions when you can be a scalper with high Sharpe Ratio?
Now, I want to talk about something controversial about his most profitable strategy.
Chatters
According to him, he makes the most amount of money using what he calls “Chatters”. He admits he bets on this kind of trades heavily.
His chatter trades are based on the “newsflow” of big funds making a move in certain stocks and piggybacking on the same trade before others catch on.
No one knows how he exactly gets his “newsflow” and he doesn’t give a straight answer when asked.
Maybe he pays a lot for this kind of information or maybe it’s given to him for free. Who knows?
But it makes sense. The name of the room is Newsbeat Live. Without this the name wouldn’t be the same.
This is probably the only real edge that he has and it’s understandable that he doesn’t want to reveal how he get this kind of newsflow and from where.
By joining his trading room he’ll make a callout on these trades for you to take advantage of.
In order to do this kind of trade, you have to be very quick on your trigger finger.
Almost always the initial move is done within a couple of minutes, if not seconds. If you get in late, you find yourself a sucker buying at or near the top.
Also, because you want to get in as soon as you hear his “chatter” announcements, he advised people to get in within 5 seconds of each chatter announcement and use market order to get in. He said that if he had a small account, he’d bet 100% on this kind of “high-octane” chatter trades and get in and get out fast for “easy” money.
This was how chatter trades were done
…Until one they when many people got burned badly.
Back in September or October of 2019, a lot of people in the room lost a lot money because they market ordered call options contracts on a chatter trade.
The spread on that trade was something like BID: 0.5 ASK: 5.00 few seconds after he announced it.
I didn’t take that trade. No way, I’m going to buy something that has a spread like that.
If you’ve been trading options you know that this kind of spread can happen. Many people that day in the room marketed-in on the trade, taking the offer at ASK.
They found themselves buying at $5.0 per contract when someone probably bought the same contract at $0.40 or $0.50 just few seconds ago.
Someone walked away with decent profits on that trade.
This was the biggest trading chatroom fiasco I’ve ever seen.
People in the room grieving and throwing numbers of how much they had just lost. 10K, 20K, 30K and even $60K.
Could it be also that someone who lost more and didn’t want to talk about it because it’d hurt too much? And how embarrassing to talk about such a loss. I give credit to people who spoke up about it.
People were obviously distressed and what did Mr. Mark Melnick do at this moment?
Initially, he didn’t say much. But what he said he was going to walk away from the trading desk to clear his mind.
It took a while for him to come back and he mentioned that it hurt him a lot that people lost a lot of money and encouraged people not to hesitate to contact him.
I don’t think he ever said anything about that he made a mistake insinuating to load up on chatter trades. No apology since everyone who took the trade did it at their own risk. He advised people to reach out to their broker and do whatever it takes to get their trades annulled because the market makers in that trades were despicable crooks and evil.
But let’s get one thing clear. Perhaps the cold hard truth.
Since Mark is the one who announces chatter trades. he basically frontruns everyone who gets in on these trades after him. There were times when he doesn’t take his own chatter trades and lets the room have it.
But when he does, it’s a guarantee win for him.
He has some sycophantic followers in his trading room and these people are always hungry for chatter plays. I can imagine drooling over the idea of next chatter trades.
It’s human to naturally seek the least path of resistance and this type of trade requires no skill but having fast trigger finger and a platform that allows fast execution.
By taking his chatter trades, you are most likely to make money as long as you act fast to get in and get out.
The thing is, you don’t know when it’s exactly the next chatter trade is going to happen.
If you take a bathroom break, you just miss it. If you take a phone call or answer a door bell, you just missed it.
So, it requires you to be glued to your monitor(s) if you want to make the most of your subscription.
So, we went over Mark’s most profitable strategy. But wait we haven’t yet to talk about his overnight swing trades.
Mark’s Swing Trades
His overnight swing trades jokes. Yes, jokes.
A lot of his overnight trades are done just before earnings announcements when implied volatility is at the highest.
You’ve ever bought a call option just before earnings, predicted the right direction but only to find out that you still lost money next morning? This is because of the implied volatility crush post earnings. A lot of people new to options don’t know this and get taken advantage by veterans this way.
I don’t know if Mark knows or not but I witnessed him buying options this way. I think he understand the concept of implied volatility but why he gets on such trades is a mystery.
I haven’t exactly checked the result of all of his swing trades but I wouldn’t be surprised if people lost more money following his swing trades than anything in the room.
Final Word
Mark offers “free-consultation” on the phone for people who struggle in their trading.
He said that he takes a lot of phone calls but often you’d get the feeling that he is distracted, unable to give an undivided attention for his consultation.
“How would you like to get on a free consultation with a millionaire scalper who can take your trading to the next level?” Appealing isn’t it?
But would you want to get on the phone with someone who is going to give a consultation, even if he or she is distracted?
Oh, it’s a free consultation. Ok, why not? What do I got to lose?
In his videos, you’d hear him saying that he cares for everyone in his trading room and considers them as part of his family. And he runs the trading room out of his good heart and intention more than making money.
Besides he says that he makes more money from his trading than running the room.
My suggestion is that you have a look and you’d be the judge.
He does hold “open house” for his trading room from time to time.
Also, I believe that if you try his trading room for the first time, you try it for a month for about $50. As for me, he’s just another front runner using his trading room to profit with a bad sense of humor and exaggeration that make you cringe.
submitted by appplejack007 to Daytrading [link] [comments]

Strategy to Make 50% - 100% a Year Trading One Day a Week.

Strategy to Make 50% - 100% a Year Trading One Day a Week.
I feel a lot of times people can over think and try to over engineer making moderate annual gains in the Forex markets. Simple and low maintenance strategies can be devised to do this.
If someone said to me, "Hey, I've got $10 million and want 15% a year . I don't want to be in the market more than 3 hours a week". I'd say, "I got this. Give me close of New York session on Friday to 2 hours before the market close. Easy gig."

In this post I will teach you how.

I will also post setups and track results from strategy on Friday's that qualify. Since I am not doing this for a pedantic millionaire investor, I'll use the whole of Friday for my trades. With this I think I should be able to beat 50% on 1% risk per position.

There are specific qualifiers needed going into Friday to trigger this strategy. It will not trade every week. Only when there is a trend present and we are either in a trending week or near the end of a corrective week.

Here is what a corrective week tends to look like.


https://preview.redd.it/dtdwbsjt74i31.png?width=673&format=png&auto=webp&s=37030c3d5e4aad34812ab806addb5e34e948b525
You can sync up this with real price action in what has been (and still is) a corrective week in GBPUSD.

Setting Up

Approaching Final High

When we see this, we have a really easy trade looking to buy London open area at a 61.8% retracement. There are multiple reasons this trade could work. Lots of different ways a strategy can pick up this trade (I won't cover these here, if you look through my post history I cover them extensively).
Here is the area on this chart I will be looking to trade.

Entry Area

Let's look closer at the trades when we have this set up. I said buy 61.8, but that is too arbitrary. Working one day a week here, should pretend to look busy, huh.


https://preview.redd.it/lwtj73tia4i31.png?width=1298&format=png&auto=webp&s=444c8d13d15c8b8f3ea5402ec35cb46c63be1440
So we're looking for the 61.8 retracement for around London. This is where the strategy can potentially come active. This trade may or may not be taken, it depends on a few things. Honestly, one of them is I might sleep in. Others are more professional ... promise.

When there has been this failed new high move, it's on. I always want the following trade. Here we're looking for a 61.8 retrace from the failed new high swing. A bounce from there, and then pending order can be placed to enter on a retest of there. This is what I consider to be a strong signal. I can use tight stops here and get good RR. I expect a strong move from this area.
When it breaks out of the high and runs a little, I'll close half my profit and trail stops to protect running profits. I will wait and watch for the market contracting and starting to make a messy range. I'll then look for it to start to pull back and look like it's going to start to correct the move of the day. I will look to buy into this move and expect to see price spiking. Not trying to "time the market" or anything, but it's probably going to be 90 to 120 minutes before the market closes this happens.

For trending weeks, I'll be using the same sort of execution rules and trading patterns. he prerequisite price action I want to see will be there having been a new high/low in the trend made by Thursday. I'll then be looking for a retrace of that and the market running out the end of the week with a final trend move.


https://preview.redd.it/5u0qyoeec4i31.png?width=520&format=png&auto=webp&s=986aa1b123f98e24aec8c23da2dd8651417a8c85

Part 2 https://www.reddit.com/Forex/comments/cufic1/strat_for_50_100_a_year_more_details_first_trade/
submitted by whatthefx to Forex [link] [comments]

List of Resources for New/Aspiring Traders

This is a post I made about 5 years ago and I'm reuploading it for visibility. Check back often as this will be getting reformatted and edited over the coming days to make sure it's upto date.
Price Action Attack Map N/A ------------------------------
http://www.forexfactory.com/showthread.php?t=520423 FXLester's guide to price action
http://www.forexfactory.com/showthread.php?t=2331 James16's guide to price action
http://forums.babypips.com/free-forex-trading-systems/58037-price-action-matters.html "Price Action That Matters by Aaron Kruger
https://www.forex4noobs.com/ Forex 4 noobs price action battle plan!
GAMES N/A ------------------------------------------------------
http://chartgame.com/ Personally, i think this is pure genius! I love it, it's an amazing way to brush up on your chart skills and it's actually pretty cool to see how things went. It throws a random chart at you and you have to day trade it, it'll tell you how you did versus a buy & hold strategy and... well it's just really really good!
BLOGS N/A -------------------------------------------------------------------------------------------
https://jkonfx.com/ Technical & fundamental news on currencies. I would advise newer traders not to trade solely on external opinions because that won't cement your own methodology or reasons for trading. Excellent website for if you want an overview of the markets and daily reports. Also includes a trading journal and a lot of media attention.
http://www.stocktradingtogo.com/ A good blog for new traders/ investors. Lot of ‘top 10 lists’ to flick through.
http://www.tradingheroes.com/ This is absolutely amazing! I can't put a value on this! It's one of the best gems of the internet. Podcasts interviewing successful traders, some are notable such as 50pips, Walter Peters & Chris Kapre.
http://www.nobrainertrades.com/ Found this when doing the podcast link below, it's actually really good high quality stuff. Blog based with plenty of educational material.
http://www.chatwithtraders.com A weekly podcast that interviews successful traders. Thank you gumballfrank for this.
http://ftp.traderkingdom.com/ Not had much of a chance to check this out, but first impression are nice!
http://www.forexlive.com Heavily oriented towards fundamentals. Good news portal submitted by WinterTires thanks!
http://www.tradeciety.com/ Heavily visually oriented perfect for beginners! Lots of infographics and info. Submitted by gumballfrank
http://orderflowforex.com/ A blog that focuses on Personal Development as a trader. Absolutely essential. It'll help to focus you on your journey to trading omnipotence!
ONLINE SCHOOLS & LEARNING PORTALS N/A -------------------------------------------------------------------------------
http://theinnercircletrader.com/Tutorials.htm Best tutorials in the world by a secret trillionaire.
http://www.tradimo.com A superb website dedicated to training people to become better investors traders for free.
http://www.babypips.com One of the best free online schools which tracks your progress and teaches you heaps on information. The forum is the gem, where many people keep trade journals and put up their strategies. Don't copy them but borrowing concepts and ideas is good.
http://www.forexpeacearmy.com/forex-forum/forex-military-school-complete-forex-education-pro-banke Unbelievably thorough! Education on forex trading, literally everything is covered.
http://stockcharts.com/school/doku.php?id=chart_school Very wide ranging resource that focuses mainly on technical analysis.
http://www.investopedia.com This should be a given, but seriously – this place is the Wikipedia of trading/ investing.
http://www.swing-trade-stocks.com/swing-trading-basics.html Actually a really good learning resource that mentions psychology and momentum among other things.
http://thepatternsite.com/Psychology.html Really good information on trading psychology – something that often goes unnoticed with beginners.
http://www.finvids.com/ Cool little website with videos on candle patterns and chart patterns.
http://www.fxacademy.com/ Appears to be a free trading academy. Not tried it personally, but it looks really good. With plenty of videos for visual learners.
http://forex-strategies-revealed.com/intro PEOPLE IN NEED OF A STRATEGY CHECK THIS OUT List of strategies, literally everyone you'll ever need.
ARTICLES OF INTEREST N/A -----------------------------------------------------------------------------
http://orderflowforex.com/2014/11/trading-books-proper-orde There's a lot of information out there, it's overwhelming. You might think "Where the hell do I start?!" well here's your answer! The books you have to read... and in what order! Super important for beginners.
http://www.stocktradingtogo.com/2009/05/14/trading-psychology-stages-investor-emotions/ An article on the ’14 stages of investor emotions’ knowing who you are and what is happening to you can lead you to make more calculated decisions.
http://fourhourworkweek.com/2014/10/15/money-master-the-game/ Tim Ferris, author of The 4 Hour Work Week interviews Tony Robbins to find out the success behind the worlds best investors. Talking about morning routines, peak performance & mastering money!
http://www.tradeciety.com/category/trading-blog/ Best trading & investing blogs and articles as picked by tradeciety.com
http://www.forextradetracker.com/blog/understanding-forex-jargon-a-glossary-for-beginners Forex jargon glossary for beginners. Submitted by gumballfrank
http://orderflowforex.com/order-flow-trading/what-is-order-flow-trading/ What is order flow trading? Essential for beginners
FORUMS N/A -------------------------------------------------------------------------------------------------
http://www.forexpeacearmy.com/ Excellent learning resource, main focus is to help avoid people getting scammed.
http://www.trade2win.com/boards/ Massive forum for beginners to talk to more experienced traders – very active community.
http://www.forexfactory.com/forum.php Much like trade2win but more focused towards forex.
http://forums.babypips.com/ Another forum dedicated to forex traders. You'll find people keeping good strategies here, list them via most views first to find the real gems.
MISCELLANEOUS RESOURCES N/A --------------------------------------------------------------------
http://www.forexfactory.com/showthread.php?t=520423 Some beast called Lester showing you how it is! Read this!
http://theinnercircletrader.com/Tutorials.htm If you watch all of these you're already a millionaire!
http://www.forex-warez.com/Free%20Download/ Every book you could ever want on trading, investing, market psychology, strategies etc.
http://www.forextradetracker.com/ SUPER IMPORTANT This website is paramount to your success, still in development but will provide users with an easy way to document trades. Success is determined by your willingness to follow through with the boring bits so keep this one in your bookmarks.
http://www.hotcandlestick.com/candlestick-pattern-flashcard-game.html Super useful Flashcard game that helps you to remember important candlestick patterns.
http://www.hotcandlestick.com/forex_charts.htm Important candlestick patterns that have appeared on the major currency pairs. Good for a quick overview.
http://www.freeonlinetradingeducation.com/chart-school.html Website offering visual illustration & practical applications of popular candlestick patterns.
http://www.hotcandlestick.com/candles.htm Glossary of candlestick patterns.
http://www.incrediblecharts.com/topic/Technical_Analysis Another resource for learning technical analysis. Not particularly thorough but useful for basic concepts.
http://www.forexschoolonline.com/ Market overviews and trading opportunity videos provided, along with educational videos and the like.
http://www.tradersdna.com/education/ Another trading education site focusing more on forex.
submitted by Dannyboi93 to forexit [link] [comments]

How to get started in Forex - A comprehensive guide for newbies

Almost every day people come to this subreddit asking the same basic questions over and over again. I've put this guide together to point you in the right direction and help you get started on your forex journey.

A quick background on me before you ask: My name is Bob, I'm based out of western Canada. I started my forex journey back in January 2018 and am still learning. However I am trading live, not on demo accounts. I also code my own EA's. I not certified, licensed, insured, or even remotely qualified as a professional in the finance industry. Nothing I say constitutes financial advice. Take what I'm saying with a grain of salt, but everything I've outlined below is a synopsis of some tough lessons I've learned over the last year of being in this business.

LET'S GET SOME UNPLEASANTNESS OUT OF THE WAY

I'm going to call you stupid. I'm also going to call you dumb. I'm going to call you many other things. I do this because odds are, you are stupid, foolish,and just asking to have your money taken away. Welcome to the 95% of retail traders. Perhaps uneducated or uninformed are better phrases, but I've never been a big proponent of being politically correct.

Want to get out of the 95% and join the 5% of us who actually make money doing this? Put your grown up pants on, buck up, and don't give me any of this pc "This is hurting my feelings so I'm not going to listen to you" bullshit that the world has been moving towards.

Let's rip the bandage off quickly on this point - the world does not give a fuck about you. At one point maybe it did, it was this amazing vision nicknamed the American Dream. It died an agonizing, horrible death at the hand of capitalists and entrepreneurs. The world today revolves around money. Your money, my money, everybody's money. People want to take your money to add it to theirs. They don't give a fuck if it forces you out on the street and your family has to live in cardboard box. The world just stopped caring in general. It sucks, but it's the way the world works now. Welcome to the new world order. It's called Capitalism.

And here comes the next hard truth that you will need to accept - Forex is a cruel bitch of a mistress. She will hurt you. She will torment you. She will give you nightmares. She will keep you awake at night. And then she will tease you with a glimmer of hope to lure you into a false sense of security before she then guts you like a fish and shows you what your insides look like. This statement applies to all trading markets - they are cruel, ruthless, and not for the weak minded.

The sooner you accept these truths, the sooner you will become profitable. Don't accept it? That's fine. Don't bother reading any further. If I've offended you I don't give a fuck. You can run back home and hide under your bed. The world doesn't care and neither do I.

For what it's worth - I am not normally an major condescending asshole like the above paragraphs would suggest. In fact, if you look through my posts on this subreddit you will see I am actually quite helpful most of the time to many people who come here. But I need you to really understand that Forex is not for most people. It will make you cry. And if the markets themselves don't do it, the people in the markets will.

LESSON 1 - LEARN THE BASICS

Save yourself and everybody here a bunch of time - learn the basics of forex. You can learn the basics for free - BabyPips has one of the best free courses online which explains what exactly forex is, how it works, different strategies and methods of how to approach trading, and many other amazing topics.

You can access the BabyPips course by clicking this link: https://www.babypips.com/learn/forex

Do EVERY course in the School of Pipsology. It's free, it's comprehensive, and it will save you from a lot of trouble. It also has the added benefit of preventing you from looking foolish and uneducated when you come here asking for help if you already know this stuff.

If you still have questions about how forex works, please see the FREE RESOURCES links on the /Forex FAQ which can be found here: https://www.reddit.com/Forex/wiki/index

Quiz Time
Answer these questions truthfully to yourself:

-What is the difference between a market order, a stop order, and a limit order?
-How do you draw a support/resistance line? (Demonstrate it to yourself)
-What is the difference between MACD, RSI, and Stochastic indicators?
-What is fundamental analysis and how does it differ from technical analysis and price action trading?
-True or False: It's better to have a broker who gives you 500:1 margin instead of 50:1 margin. Be able to justify your reasoning.

If you don't know to answer to any of these questions, then you aren't ready to move on. Go back to the School of Pipsology linked above and do it all again.

If you can answer these questions without having to refer to any kind of reference then congratulations, you are ready to move past being a forex newbie and are ready to dive into the wonderful world of currency trading! Move onto Lesson 2 below.

LESSON 2 - RANDOM STRANGERS ARE NOT GOING TO HELP YOU GET RICH IN FOREX

This may come as a bit of a shock to you, but that random stranger on instagram who is posting about how he is killing it on forex is not trying to insprire you to greatness. He's also not trying to help you. He's also not trying to teach you how to attain financial freedom.

99.99999% of people posting about wanting to help you become rich in forex are LYING TO YOU.

Why would such nice, polite people do such a thing? Because THEY ARE TRYING TO PROFIT FROM YOUR STUPIDITY.

Plain and simple. Here's just a few ways these "experts" and "gurus" profit from you:


These are just a few examples. The reality is that very few people make it big in forex or any kind of trading. If somebody is trying to sell you the dream, they are essentially a magician - making you look the other way while they snatch your wallet and clean you out.

Additionally, on the topic of fund managers - legitimate fund managers will be certified, licensed, and insured. Ask them for proof of those 3 things. What they typically look like are:

If you are talking to a fund manager and they are insisting they have all of these, get a copy of their verification documents and lookup their licenses on the directories of the issuers to verify they are valid. If they are, then at least you are talking to somebody who seems to have their shit together and is doing investment management and trading as a professional and you are at least partially protected when the shit hits the fan.


LESSON 3 - UNDERSTAND YOUR RISK

Many people jump into Forex, drop $2000 into a broker account and start trading 1 lot orders because they signed up with a broker thinking they will get rich because they were given 500:1 margin and can risk it all on each trade. Worst-case scenario you lose your account, best case scenario you become a millionaire very quickly. Seems like a pretty good gamble right? You are dead wrong.

As a new trader, you should never risk more than 1% of your account balance on a trade. If you have some experience and are confident and doing well, then it's perfectly natural to risk 2-3% of your account per trade. Anybody who risks more than 4-5% of their account on a single trade deserves to blow their account. At that point you aren't trading, you are gambling. Don't pretend you are a trader when really you are just putting everything on red and hoping the roulette ball lands in the right spot. It's stupid and reckless and going to screw you very quickly.

Let's do some math here:

You put $2,000 into your trading account.
Risking 1% means you are willing to lose $20 per trade. That means you are going to be trading micro lots, or 0.01 lots most likely ($0.10/pip). At that level you can have a trade stop loss at -200 pips and only lose $20. It's the best starting point for anybody. Additionally, if you SL 20 trades in a row you are only down $200 (or 10% of your account) which isn't that difficult to recover from.
Risking 3% means you are willing to lose $60 per trade. You could do mini lots at this point, which is 0.1 lots (or $1/pip). Let's say you SL on 20 trades in a row. You've just lost $1,200 or 60% of your account. Even veteran traders will go through periods of repeat SL'ing, you are not a special snowflake and are not immune to periods of major drawdown.
Risking 5% means you are willing to lose $100 per trade. SL 20 trades in a row, your account is blown. As Red Foreman would call it - Good job dumbass.

Never risk more than 1% of your account on any trade until you can show that you are either consistently breaking even or making a profit. By consistently, I mean 200 trades minimum. You do 200 trades over a period of time and either break-even or make a profit, then you should be alright to increase your risk.

Unfortunately, this is where many retail traders get greedy and blow it. They will do 10 trades and hit their profit target on 9 of them. They will start seeing huge piles of money in their future and get greedy. They will start taking more risk on their trades than their account can handle.

200 trades of break-even or profitable performance risking 1% per trade. Don't even think about increasing your risk tolerance until you do it. When you get to this point, increase you risk to 2%. Do 1,000 trades at this level and show break-even or profit. If you blow your account, go back down to 1% until you can figure out what the hell you did differently or wrong, fix your strategy, and try again.

Once you clear 1,000 trades at 2%, it's really up to you if you want to increase your risk. I don't recommend it. Even 2% is bordering on gambling to be honest.


LESSON 4 - THE 500 PIP DRAWDOWN RULE

This is a rule I created for myself and it's a great way to help protect your account from blowing.

Sometimes the market goes insane. Like really insane. Insane to the point that your broker can't keep up and they can't hold your orders to the SL and TP levels you specified. They will try, but during a flash crash like we had at the start of January 2019 the rules can sometimes go flying out the window on account of the trading servers being unable to keep up with all the shit that's hitting the fan.

Because of this I live by a rule I call the 500 Pip Drawdown Rule and it's really quite simple - Have enough funds in your account to cover a 500 pip drawdown on your largest open trade. I don't care if you set a SL of -50 pips. During a flash crash that shit sometimes just breaks.

So let's use an example - you open a 0.1 lot short order on USDCAD and set the SL to 50 pips (so you'd only lose $50 if you hit stoploss). An hour later Trump makes some absurd announcement which causes a massive fundamental event on the market. A flash crash happens and over the course of the next few minutes USDCAD spikes up 500 pips, your broker is struggling to keep shit under control and your order slips through the cracks. By the time your broker is able to clear the backlog of orders and activity, your order closes out at 500 pips in the red. You just lost $500 when you intended initially to only risk $50.

It gets kinda scary if you are dealing with whole lot orders. A single order with a 500 pip drawdown is $5,000 gone in an instant. That will decimate many trader accounts.

Remember my statements above about Forex being a cruel bitch of a mistress? I wasn't kidding.

Granted - the above scenario is very rare to actually happen. But glitches to happen from time to time. Broker servers go offline. Weird shit happens which sets off a fundamental shift. Lots of stuff can break your account very quickly if you aren't using proper risk management.


LESSON 5 - UNDERSTAND DIFFERENT TRADING METHODOLOGIES

Generally speaking, there are 3 trading methodologies that traders employ. It's important to figure out what method you intend to use before asking for help. Each has their pros and cons, and you can combine them in a somewhat hybrid methodology but that introduces challenges as well.

In a nutshell:

Now you may be thinking that you want to be a a price action trader - you should still learn the principles and concepts behind TA and FA. Same if you are planning to be a technical trader - you should learn about price action and fundamental analysis. More knowledge is better, always.

With regards to technical analysis, you need to really understand what the different indicators are tell you. It's very easy to misinterpret what an indicator is telling you, which causes you to make a bad trade and lose money. It's also important to understand that every indicator can be tuned to your personal preferences.

You might find, for example, that using Bollinger Bands with the normal 20 period SMA close, 2 standard deviation is not effective for how you look at the chart, but changing that to say a 20 period EMA average price, 1 standard deviation bollinger band indicator could give you significantly more insight.


LESSON 6 - TIMEFRAMES MATTER

Understanding the differences in which timeframes you trade on will make or break your chosen strategy. Some strategies work really well on Daily timeframes (i.e. Ichimoku) but they fall flat on their face if you use them on 1H timeframes, for example.

There is no right or wrong answer on what timeframe is best to trade on. Generally speaking however, there are 2 things to consider:


If you are a total newbie to forex, I suggest you don't trade on anything shorter than the 1H timeframe when you are first learning. Trading on higher timeframes tends to be much more forgiving and profitable per trade. Scalping is a delicate art and requires finesse and can be very challenging when you are first starting out.


LESSON 7 - AUTOBOTS...ROLL OUT!

Yeah...I'm a geek and grew up with the Transformers franchise decades before Michael Bay came along. Deal with it.

Forex bots are called EA's (Expert Advisors). They can be wonderous and devastating at the same time. /Forex is not really the best place to get help with them. That is what /algotrading is useful for. However some of us that lurk on /Forex code EA's and will try to assist when we can.

Anybody can learn to code an EA. But just like how 95% of retail traders fail, I would estimate the same is true for forex bots. Either the strategy doesn't work, the code is buggy, or many other reasons can cause EA's to fail. Because EA's can often times run up hundreds of orders in a very quick period of time, it's critical that you test them repeatedly before letting them lose on a live trading account so they don't blow your account to pieces. You have been warned.

If you want to learn how to code an EA, I suggest you start with MQL. It's a programming language which can be directly interpretted by Meta Trader. The Meta Trader terminal client even gives you a built in IDE for coding EA's in MQL. The downside is it can be buggy and glitchy and caused many frustrating hours of work to figure out what is wrong.

If you don't want to learn MQL, you can code an EA up in just about any programming language. Python is really popular for forex bots for some reason. But that doesn't mean you couldn't do it in something like C++ or Java or hell even something more unusual like JQuery if you really wanted.

I'm not going to get into the finer details of how to code EA's, there are some amazing guides out there. Just be careful with them. They can be your best friend and at the same time also your worst enemy when it comes to forex.

One final note on EA's - don't buy them. Ever. Let me put this into perspective - I create an EA which is literally producing money for me automatically 24/5. If it really is a good EA which is profitable, there is no way in hell I'm selling it. I'm keeping it to myself to make a fortune off of. EA's that are for sale will not work, will blow your account, and the developer who coded it will tell you that's too darn bad but no refunds. Don't ever buy an EA from anybody.

LESSON 8 - BRING ON THE HATERS

You are going to find that this subreddit is frequented by trolls. Some of them will get really nasty. Some of them will threaten you. Some of them will just make you miserable. It's the price you pay for admission to the /Forex club.

If you can't handle it, then I suggest you don't post here. Find a more newbie-friendly site. It sucks, but it's reality.

We often refer to trolls on this subreddit as shitcunts. That's your word of the day. Learn it, love it. Shitcunts.


YOU MADE IT, WELCOME TO FOREX!

If you've made it through all of the above and aren't cringing or getting scared, then welcome aboard the forex train! You will fit in nicely here. Ask your questions and the non-shitcunts of our little corner of reddit will try to help you.

Assuming this post doesn't get nuked and I don't get banned for it, I'll add more lessons to this post over time. Lessons I intend to add in the future:
If there is something else you feel should be included please drop a comment and I'll add it to the above list of pending topics.

Cheers,

Bob



submitted by wafflestation to Forex [link] [comments]

Just 2 more Conspiracy Theories that turned out to be True

(i couldn't post in the previous one , word limit )

1.Big Brother or the Shadow Government

It is also called the “Deep State” by Peter Dale Scott, a professor at the University of California, Berkeley.
A shadow government is a "government-in-waiting" that remains in waiting with the intention of taking control of a government in response to some event. It turned out this was true on 9/11, when it was told to us by our mainstream media. For years, this was ridiculed as a silly, crazy conspiracy theory and, like the others listed here, turned out to be 100% true. It is also called the Continuity of Government.
The Continuity of Government (COG) is the principle of establishing defined procedures that allow a government to continue its essential operations in case of nuclear war or other catastrophic event. Since the end of the cold war, the policies and procedures for the COG have been altered according to realistic threats of that time.
These include but are not limited to a possible coup or overthrow by right wing terrorist groups, a terrorist attack in general, an assassination, and so on. Believe it or not the COG has been in effect since 2001.After 9/11, it went into action.
Now here is the kicker, many of the figures in Iran Contra, the Watergate Scandal, the alleged conspiracy to assassinate Kennedy, and many others listed here are indeed members of the COG. This is its own conspiracy as well.
The Secret Team:
The CIA and Its Allies in Control of the United States and the World is a book written by Air Force Col. L Fletcher Prouty, published in 1973.
From 1955 to 1963 Prouty was the "Focal Point Officer" for contacts between the CIA and the Pentagon on matters relating to military support for "black operations" but he was not assigned to the CIA and was not bound by any oath of secrecy. (From the first page of the 1974 Printing)
It was one of the first tell-all books about the inner workings of the CIA and was an important influence on the Oliver Stone movie JFK. But the main thrust of the book is how the CIA started as a think tank to analyze intelligence gathered from military sources but has grown to the monster it has become. The CIA had no authority to run their own agents or to carry out covert operations but they quickly did both and much more. This book tells about things they actually did and a lot about how the operate. In Prouty's own words, from the 1997 edition of The Secret Team: This is the fundamental game of the Secret Team. They have this power because they control secrecy and secret intelligence and because they have the ability to take advantage of the most modern communications system in the world, of global transportation systems, of quantities of weapons of all kinds, and when needed, the full support of a world-wide U.S. military supporting base structure.
They can use the finest intelligence system in the world, and most importantly, they have been able to operate under the canopy of an assumed, ever-present enemy called "Communism." It will be interesting to see what "enemy" develops in the years ahead. It appears that "UFO's and Aliens" are being primed to fulfill that role for the future.
To top all of this, there is the fact that the CIA, itself, has assumed the right to generate and direct secret operations. "He is not the first to allege that UFOs and Aliens are going to be used as a threat against the world to globalize the planet under One government."
The Report from Iron Mountain
The Report from Iron Mountain is a book, published in 1967 (during the Johnson Administration) by Dial Press, that states that it is the report of a government panel.
According to the report, a 15-member panel, called the Special Study Group, was set up in 1963 to examine what problems would occur if the U.S. entered a state of lasting peace.
They met at an underground nuclear bunker called Iron Mountain (as well as other, worldwide locations) and worked over the next two years. Iron Mountain is where the government has stored the flight 93 evidence from 9/11.A member of the panel, one "John Doe", a professor at a college in the Midwest, decided to release the report to the public. The heavily footnoted report concluded that peace was not in the interest of a stable society, that even if lasting peace, "could be achieved, it would almost certainly not be in the best interests of society to achieve it." War was a part of the economy.
Therefore, it was necessary to conceive a state of war for a stable economy. The government, the group theorized, would not exist without war, and nation states existed in order to wage war. War also served a vital function of diverting collective aggression. They recommended that bodies be created to emulate the economic functions of war.
They also recommended "blood games" and that the government create alternative foes that would scare the people with reports of alien life-forms and out of control pollution.
Another proposal was the reinstitution of slavery.
U.S. News and World Report claimed in its November 20, 1967 issue to have confirmation of the reality of the report from an unnamed government official, who added that when President Johnson read the report, he 'hit the roof' and ordered it to be suppressed for all time.
Additionally, sources were said to have revealed that orders were sent to U.S. embassies, instructing them to emphasize that the book had no relation to U.S. Government policy.
Project Blue Beam is also a common conspiracy theory that alleges that a faked alien landing would be used as a means of scaring the public into whatever global system is suggested. Some researchers suggest the Report from Iron Mountain might be fabricated, others swear it is real.
Bill Moyers, the American journalist and public commentator, has served as White House Press Secretary in the United States President Lyndon B. Johnson Administration from 1965 to 1967. He worked as a news commentator on television for ten years. Moyers has had an extensive involvement with public television, producing documentaries and news journal programs.
He has won numerous awards and honorary degrees. He has become well known as a trenchant critic of the U.S. media. Since 1990, Moyers has been President of the Schumann Center for Media and Democracy. He is considered by many to be a very credible outlet for the truth. He released a documentary titled, The Secret Government, which exposed the inner workings of a secret government much more vast that most people would ever imagine.
Though originally broadcast in 1987, it is even more relevant today. Interviews with respected top military, intelligence, and government insiders reveal both the history and secret objectives of powerful groups in the hidden shadows of our government.
Here is that documentary:
vid
For another powerful, highly revealing documentary on the manipulations of the secret government produced by BBC, click here.
The intrepid BBC team clearly shows how the War on Terror is largely a fabrication.
For those interested in very detailed information on the composition of the shadow or secret government from a less well-known source, take a look at the summary available here.

2. The Federal Reserve Bank

The fundamental promise of a central bank like the Federal Reserve is economic stability.
The theory is that manipulating the value of the currency allows financial booms to go higher, and crashes to be more mild. If growth becomes speculative and unsustainable, the central bank can make the price of money go up and force some deleveraging of risky investments - again, promising to make the crashes more mild.
The period leading up to the American revolution was characterized by increasingly authoritarian legislation from England. Acts passed in 1764 had a particularly harsh effect on the previously robust colonial economy.
The Sugar Act was in effect a tax cut on easily smuggled molasses, and a new tax on commodities that England more directly controlled trade over. The navy would be used in increased capacity to enforce trade laws and collect duties.
Perhaps even more significant than the militarization and expansion of taxes was the Currency Act passed later in the year 1764.
"The colonies suffered a constant shortage of currency with which to conduct trade. There were no gold or silver mines and currency could only be obtained through trade as regulated by Great Britain. Many of the colonies felt no alternative to printing their own paper money in the form of Bills of Credit."
The result was a true free market of currency - each bank competed, exchange rates fluctuated wildly, and merchants were hesitant to accept these notes as payment.
Of course, they didn't have 24-hour digital Forex markets, but I'll hold off opinions on the viability of unregulated currency for another time.
England's response was to seize control of the colonial money supply - forbidding banks, cities, and colony governments from printing their own. This law, passed so soon after the Sugar Act, started to really bring revolutionary tension inside the colonies to a higher level.
American bankers had learned early on that debasing a currency through inflation is a helpful way to pay off perpetual trade deficits - but Britain proved that the buyer of the currency would only take the deal for so long...
Following the (first) American Revolution, the "First Bank of the United States" was chartered to pay off collective war debts, and effectively distribute the cost of the revolution proportionately throughout all of the states. Although the bank had vocal and harsh skeptics, it only controlled about 20% of the nation's money supply.
Compared to today's central bank, it was nothing.
Thomas Jefferson argued vocally against the institution of the bank, mostly citing constitutional concerns and the limitations of government found in the 10th amendment.
There was one additional quote that hints at the deeper structural flaw of a central bank in a supposedly free capitalist economy.
"The existing banks will, without a doubt, enter into arrangements for lending their agency, and the more favorable, as there will be a competition among them for it; whereas the bill delivers us up bound to the national bank, who are free to refuse all arrangement, but on their own terms, and the public not free, on such refusal, to employ any other bank" –Thomas Jefferson.Basically, the existing banks will fight over gaining favor with the central bank - rather than improving their performance relative to a free market.
The profit margins associated with collusion would obviously outweigh the potential profits gained from legitimate business.
The Second Bank of the United States was passed five years after the first bank's charter expired. An early enemy of central banking, President James Madison, was looking for a way to stabilize the currency in 1816. This bank was also quite temporary - it would only stay in operation until 1833 when President Andrew Jackson would end federal deposits at the institution.
The charter expired in 1836 and the private corporation was bankrupt and liquidated by 1841.While the South had been the major opponent of central banking systems, the end of the Civil War allowed for (and also made necessary) the system of national banks that would dominate the next fifty years.
The Office of the Comptroller of the Currency (OCC) says that this post-war period of a unified national currency and system of national banks "worked well." [3] Taxes on state banks were imposed to encourage people to use the national banks - but liquidity problems persisted as the money supply did not match the economic cycles.
Overall, the American economy continued to grow faster than Europe, but the period did not bring economic stability by any stretch of the imagination. Several panics and runs on the bank - and it became a fact of life under this system of competing nationalized banks. In 1873, 1893, 1901, and 1907 significant panics caused a series of bank failures.
The new system wasn't stable at all, in fact, many suspected it was wrought with fraud and manipulation.
The Federal Reserve Bank of Minneapolis is not shy about attributing the causes of the Panic of 1907 to financial manipulation from the existing banking establishment.
"If Knickerbocker Trust would falter, then Congress and the public would lose faith in all trust companies and banks would stand to gain, the bankers reasoned."
In timing with natural economic cycles, major banks including J.P. Morgan and Chase launched an all-out assault on Heinze's Knickerbocker Trust.
Financial institutions on the inside started silently selling off assets in the competitor, and headlines about a few bad loans started making top spots in the newspapers.
The run on Knickerbocker turned into a general panic - and the Federal Government would come to the rescue of its privately owned "National Banks.
"During the Panic of 1907, "Depositors 'run' on the Knickerbocker Bank. J.P. Morgan and James Stillman of First National City Bank (Citibank) act as a "central bank," providing liquidity ... [to stop the bank run] President Theodore Roosevelt provides Morgan with $25 million in government funds ... to control the panic. Morgan, acting as a one-man central bank, decides which firms will fail and which firms will survive."
How did JP Morgan get so powerful that the government would provide them with funding to increase their power? They had key influence with positions inside the Administrations.
They had senators, congressmen, lobbyists, media moguls all working for them.
In 1886, a group of millionaires purchased Jekyll Island and converted it into a winter retreat and hunting ground, the USA's most exclusive club. By 1900, the club's roster represented 1/6th of the world's wealth. Names like Astor, Vanderbilt, Morgan, Pulitzer and Gould filled the club's register. Non- members, regardless of stature, were not allowed. Dignitaries like Winston Churchill and President McKinley were refused admission.
In 1908, the year after a national money panic purportedly created by J. P. Morgan, Congress established, in 1908, a National Monetary Authority. In 1910 another, more secretive, group was formed consisting of the chiefs of major corporations and banks in this country. The group left secretly by rail from Hoboken, New Jersey, and traveled anonymously to the hunting lodge on Jekyll Island.
In fact, the Clubhouse/hotel on the island has two conference rooms named for the "Federal Reserve." The meeting was so secret that none referred to the other by his last name. Why the need for secrecy?
Frank Vanderlip wrote later in the Saturday Evening Post,
"...it would have been fatal to Senator Aldrich's plan to have it known that he was calling on anybody from Wall Street to help him in preparing his bill...I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System."
At Jekyll Island, the true draftsman for the Federal Reserve was Paul Warburg. The plan was simple.
The new central bank could not be called a central bank because America did not want one, so it had to be given a deceptive name. Ostensibly, the bank was to be controlled by Congress, but a majority of its members were to be selected by the private banks that would own its stock.
To keep the public from thinking that the Federal Reserve would be controlled from New York, a system of twelve regional banks was designed. Given the concentration of money and credit in New York, the Federal Reserve Bank of New York controlled the system, making the regional concept initially nothing but a ruse.
The board and chairman were to be selected by the President, but in the words of Colonel Edward House, the board would serve such a term as to "put them out of the power of the President."
The power over the creation of money was to be taken from the people and placed in the hands of private bankers who could expand or contract credit as they felt best suited their needs. Why the opposition to a central bank? Americans at the time knew of the destruction to the economy the European central banks had caused to their respective countries and to countries who became their debtors.
They saw the large- scale government deficit spending and debt creation that occurred in Europe. But European financial moguls didn't rest until the New World was within their orbit. In 1902, Paul Warburg, a friend and associate of the Rothschilds and an expert on European central banking, came to this country as a partner in Kuhn, Loeb and Company.
He married the daughter of Solomon Loeb, one of the founders of the firm. The head of Kuhn, Loeb was Jacob Schiff, whose gift of $20 million in gold to the struggling Russian communists in 1917 no doubt saved their revolution. The Fed controls the banking system in the USA, not the Congress nor the people indirectly (as the Constitution dictates). The U.S. central bank strategy is a product of European banking interests.
Government interventionists got their wish in 1913 with the Federal Reserve (and income tax amendment). Just in time, too, because the nation needed a new source of unlimited cash to finance both sides of WW1 and eventually our own entry to the war.
After the war, with both sides owing us debt through the federal reserve backed banks, the center of finance moved from London to New York. But did the Federal Reserve reign in the money trusts and interlocking directorates? Not by a long shot. If anything, the Federal Reserve granted new powers to the National Banks by permitting overseas branches and new types of banking services.
The greatest gift to the bankers, was a virtually unlimited supply of loans when they experience liquidity problems.
From the early 1920s to 1929, the monetary supply expanded at a rapid pace and the nation experienced wild economic growth. Curiously, however, the number of banks started to decline for the first time in American history. Toward the end of the period, speculation and loose money had propelled asset and equity prices to unreal levels.
The stock market crashed, and as the banks struggled with liquidity problems, the Federal Reserve actually cut the money supply. Without a doubt, this is the greatest financial panic and economic collapse in American history - and it never could have happened on this scale without the Fed's intervention.
The number of banks crashed and a few of the old robber barons' banks managed to swoop in and grab up thousands of competitors for pennies on the dollar.
See:
America - From Freedom to Fascism The Money Masters Monopoly Men (below video):
VID
submitted by CuteBananaMuffin to conspiracy [link] [comments]

Can the simplest forex indicators make you a millionaire?

This was a question on Quora I have recently answered for and thought some of you here might find it useful.
So I insert it here:
#####
Do you want to be a millionaire trading Forex with indicators? Well, of course, you do...why would you post this question to Quora otherwise?
The REAL question is – how do you do it?
There are countless different technical indicators out there, so where do you start? Where do you focus your valuable time and money?
Let's understand first what Forex indicators are. In essence, they are tools that turn the already available price data into something else. You've read it right. They don't provide any new information you couldn't get simply by looking at the chart.
But there are still people who get amazing results with indicators. Have they invented a secret tool that actually moves the needle?
I'm not Tyrion Lannister to tell this to you, but it's probably not the case. As far as I know, there tends to be one reason why somebody is crushing it with technical indicators while others don't.
And it has nothing to do with the indicator or indicators being used.
So what I am talking about?
It's the personality of the trader that matters. Just think about it:
Indicator-based trading is more objective than price action trading. You can argue about whether a chart pattern is present, but there's no argument about an indicator's direction.
I really don't want to get into the age-old debate of which one is better because the answer varies from person to person. The point is that you have to find out which works for you.
It's not a complicated process, although requires a lot of time. Can you guess what it is? I know you can, it's called testing.
If I told you to start boxing because it works for Mike Tyson, chances are you would laugh at me. Then, in the same way, don't put money into random indicator just because somebody allegedly makes millions using it.
That somebody might has a large trading capital, a perseverant attitude, years of experience and a system you will never able to follow because it goes against everything you are comfortable with.
You have to test different indicators as well as price action techniques. By doing so, you will know which approach best suits you. Also, you will naturally figure out which of the specific indicators, chart patterns, candlestick patterns, etc., performed the best.
You can use free tools like MetaTrader's strategy tester feature or TradingView's market replay. Also, you can invest in backtesting software such as ForexTester.
####
Have a nice day!
submitted by marcellpetras to Forex [link] [comments]

Misconceptions and ideas regarding trading

Years ago, I have stumbled on this little subreddit called Forex and it greatly improved my trading. I am by no means a millionaire but I'm doing well for myself. I want to give something back for the community that helped me develop myself.
1)Your profit %, risk reward ratio ..etc means nothing- Only thing you should care about is your risk of ruin. Its a simple formula.
2)Read Brent penfold 's book- The universal principles of successful trading. Its the only book I recommend to anyone. Nothing else. Not even a single article/blog more than this. Read the book ten times minimum.
3)Psychology is overrated- if you truly believe that the hardest part of trading is psychology then you're doing something wrong. You generally get emotional if you don't know what the fuck you're doing in the market.
4)Results are super important- People say that you should focus on the 'mindset' and all that but results is the only thing that will give you confidence. "You should enjoy smelling the roses after a hard day of work but never forget that the beauty of the roses lies in their transience"
5)Demo trading is a joke- Seriously. Never demo trade. You will learn nothing from it. The only exception is when you are building a strategy that cannot be backtested and don't have the money to try it real time.
6)Trading is gambling- No matter how much you deny it, trading is gambling. You will never know whats going to happen next so focus on protecting your capital first.
7)You won't make a million in your first year- Or your second, or your third unless you are some kind of prodigy. Trading is just like any other job. Instead of physical work, you put a lot of mental effort because all it takes is one bad trade to make you cry like a little bitch even if your previous 10 days made lots of money.
8)Invest your emotions in a few different hobbies - The reality of trading is that there will be bad days- days so FUCKING bad that you regret every single decision in your life. Easiest thing to solve this problem is to invest in something else, like hobbies- gym , meditation , your job etc. Spread your emotions into something where you can control the results.
9)Take a goddamn break and enjoy- If you are a day trader like me , always remember that you don't have to trade every single day. Its counter productive and makes you invest a lot of emotions in your trade. So you grew up your account by more than 10% in the past 15 days? Take a break and enjoy. Get drunk your ass off or whatever you prefer.
10)The easiest way to get rich in trading- is to develop a track record and find investors/ trading jobs. It takes a enormous load of effort and time to turn your 10k into 10million. Actually I am still underestimating but you get the point. Its close to impossible. Maintain a clean journal and a track record. That's your main focus.
To be honest I was surprised that there's a lot of free money flying around. I know a couple of investors because I am involved in a startup who told me that there's lot of money ready to invest if I had a clean trading track record. It blew my mind. Upon further research, I have realized that this is the easiest way to get rich, if that's the kind of thing you're after.
I understand that my perspective towards trading could be different from most of you,so please don't nitpick and waste my time. I am hoping that some of the critics will prove some of my ideas wrong though so that I can still improve.
Good luck. Stay safe and protect your ass. I love you all, fuckers but don't be a retard and do stupid shit.
submitted by mechz21 to Forex [link] [comments]

4 things you should know that will make you a better trader

Hi Redditors, This is a content that I wrote that I hope it will help you in your trader! Read on :)

Knowing your Commitment

Being honest about your commitment to Forex is very important. If you are working 8-5 daily — it’s already 7pm when you are home — and the strategy you are using, require you to be in front of your computer for 5 hours waiting for signal then you might want to change to another strategy. As you may find committing to this strategy in a long run impossible or you have to change a certain part of your lifestyle to compensate time for trading.
Sort your priorities before coming up with a schedule for the trading strategy you plan to use. This will help you to have a better organization and balance in both trading and your personal life. This way, you do not have to sacrifice your top priorities.

Mindset

Anything can happen any time when it comes to trading!
When you are trading with real money, adjust your stop loss to a comfortable level, in the way you do not have to worry even if you lose. It varies depending on your risk appetite: I set my stop loss to 2% of my account per trade, while some people set their stop-loss at 10% of their account. Previously when I set my stop loss level at 5% of my account, I realized I was in constant fear when the trade was in the Red zone (losing money). That is when I know I have to lessen my stop loss.
Having said that, you need to know it takes time before the market can hit your take profit.
You have to know that trading forex cannot make you an overnight millionaire — it is about being consistent. Likewise, you don’t expect to hit the gym for just a week and become the next Mr. Olympia. Forex is all about constantly keeping track of how your strategy is reacting to the current market, and knowing when to change and where to change. This is why I recommend you to keep a journal to record all the trades that you have done.

Risk: Reward ratio

The Risk and Reward ratio is one of the primary factors that will make you a profitable trader. The ratio emphases on how willing you are to risk to achieve your take profit. For example, if your R: R is 1: 2 and the Pivot Bar Strategy (GBP/JPY) is a 40pip: 80pip, you know that with every 2 losses you need 1 winning trade to break-even. Similarly, if your strategy only has 50% chance of being correct (equivalent to a coin toss), you will have a winning strategy right there. (Let’s do the math!) With every 10 trades you make — 5 wins (400pips) and 5 losses (200pips) — you have an overall profit of 200pips after deducting all your losses,
This is all part of your risk management, and all good traders know it is not how good you can make profit, but how well you can manage risk that will make you a profitable trader In a long run.

Edge

Many people say that speculators (Trader who trade short-term time-frame) are gamblers, which I agree to a small extent: we trade with the odds in our favour like how player count cards¹ in blackjack. In the same manner, when the odds are in our favour, we have an edge against the house.
So let’s talk about the roulette table where the house has an edge against the player. Many may think that the roulette table is a 50/50 game, well is not. Because of the 0 and 00, this makes the roulette table have an edge over players. Let’s do the math, you only bet on colours (Black or Red) the chances of you hitting is 18/38 that’s approximately 47.37%. The casino and because of the 0 and 00 the casino have an edge of 2.63%, this number might seem small but it kills. If you would gamble with a capital of $100 and $20 for every bet, the odds are you are not going to win big in the long run or you might even lose it all.
What makes forex different? When you have the correct mindset, proper risk management (Risk: Reward ratio) and you test your strategy before using it on the live market. You will have an edge, is definitely not easy getting everything right, if it is, everybody will quit their day job and trade. Forex is not for the faint-hearted, you have to put in the effort to be a profitable trader.

I am still working towards on becoming a profitable trader and I hope you would embark on this journey with me. We can learn and explore how we can all be profitable traders in the forex market. My next content post will be teaching you on how you can back-test your strategy and journaling.




  1. count cards - Card game strategy in blackjack that players use to decrease the house edge by keeping a tally of all the high and low valued cards seen by the player. It allows players to bet more with less risk when the count gives them an advantage and minimize their loss when the count is not a favourable one.
submitted by ForexGOAT to Forex [link] [comments]

I made a list of resources for beginners and experienced traders alike.

Check back often as this is regularly updated.
Price Action Attack Map N/A ------------------------------
http://www.forexfactory.com/showthread.php?t=520423 FXLester's guide to price action
http://www.forexfactory.com/showthread.php?t=2331 James16's guide to price action
http://forums.babypips.com/free-forex-trading-systems/58037-price-action-matters.html "Price Action That Matters by Aaron Kruger
https://www.forex4noobs.com/ Forex 4 noobs price action battle plan!
GAMES N/A ------------------------------------------------------
http://chartgame.com/ Personally, i think this is pure genius! I love it, it's an amazing way to brush up on your chart skills and it's actually pretty cool to see how things went. It throws a random chart at you and you have to day trade it, it'll tell you how you did versus a buy & hold strategy and... well it's just really really good!
BLOGS N/A -------------------------------------------------------------------------------------------
https://jkonfx.com/ Technical & fundamental news on currencies. I would advise newer traders not to trade solely on external opinions because that won't cement your own methodology or reasons for trading. Excellent website for if you want an overview of the markets and daily reports. Also includes a trading journal and a lot of media attention.
http://www.stocktradingtogo.com/ A good blog for new traders/ investors. Lot of ‘top 10 lists’ to flick through.
http://www.tradingheroes.com/ This is absolutely amazing! I can't put a value on this! It's one of the best gems of the internet. Podcasts interviewing successful traders, some are notable such as 50pips, Walter Peters & Chris Kapre.
http://www.nobrainertrades.com/ Found this when doing the podcast link below, it's actually really good high quality stuff. Blog based with plenty of educational material.
http://www.chatwithtraders.com A weekly podcast that interviews successful traders. Thank you gumballfrank for this.
http://ftp.traderkingdom.com/ Not had much of a chance to check this out, but first impression are nice!
http://www.forexlive.com Heavily oriented towards fundamentals. Good news portal submitted by WinterTires thanks!
http://www.tradeciety.com/ Heavily visually oriented perfect for beginners! Lots of infographics and info. Submitted by gumballfrank
http://orderflowforex.com/ A blog that focuses on Personal Development as a trader. Absolutely essential. It'll help to focus you on your journey to trading omnipotence!
ONLINE SCHOOLS & LEARNING PORTALS N/A -------------------------------------------------------------------------------
http://theinnercircletrader.com/Tutorials.htm Best tutorials in the world by a secret trillionaire.
http://www.tradimo.com A superb website dedicated to training people to become better investors traders for free.
http://www.babypips.com One of the best free online schools which tracks your progress and teaches you heaps on information. The forum is the gem, where many people keep trade journals and put up their strategies. Don't copy them but borrowing concepts and ideas is good.
http://www.forexpeacearmy.com/forex-forum/forex-military-school-complete-forex-education-pro-banke Unbelievably thorough! Education on forex trading, literally everything is covered.
http://stockcharts.com/school/doku.php?id=chart_school Very wide ranging resource that focuses mainly on technical analysis.
http://www.investopedia.com This should be a given, but seriously – this place is the Wikipedia of trading/ investing.
http://www.swing-trade-stocks.com/swing-trading-basics.html Actually a really good learning resource that mentions psychology and momentum among other things.
http://thepatternsite.com/Psychology.html Really good information on trading psychology – something that often goes unnoticed with beginners.
http://www.finvids.com/ Cool little website with videos on candle patterns and chart patterns.
http://www.fxacademy.com/ Appears to be a free trading academy. Not tried it personally, but it looks really good. With plenty of videos for visual learners.
http://forex-strategies-revealed.com/intro PEOPLE IN NEED OF A STRATEGY CHECK THIS OUT List of strategies, literally everyone you'll ever need.
ARTICLES OF INTEREST N/A -----------------------------------------------------------------------------
http://orderflowforex.com/2014/11/trading-books-proper-orde There's a lot of information out there, it's overwhelming. You might think "Where the hell do I start?!" well here's your answer! The books you have to read... and in what order! Super important for beginners.
http://www.stocktradingtogo.com/2009/05/14/trading-psychology-stages-investor-emotions/ An article on the ’14 stages of investor emotions’ knowing who you are and what is happening to you can lead you to make more calculated decisions.
http://fourhourworkweek.com/2014/10/15/money-master-the-game/ Tim Ferris, author of The 4 Hour Work Week interviews Tony Robbins to find out the success behind the worlds best investors. Talking about morning routines, peak performance & mastering money!
http://www.tradeciety.com/category/trading-blog/ Best trading & investing blogs and articles as picked by tradeciety.com
http://www.forextradetracker.com/blog/understanding-forex-jargon-a-glossary-for-beginners Forex jargon glossary for beginners. Submitted by gumballfrank
http://orderflowforex.com/order-flow-trading/what-is-order-flow-trading/ What is order flow trading? Essential for beginners
FORUMS N/A -------------------------------------------------------------------------------------------------
http://www.forexpeacearmy.com/ Excellent learning resource, main focus is to help avoid people getting scammed.
http://www.trade2win.com/boards/ Massive forum for beginners to talk to more experienced traders – very active community.
http://www.forexfactory.com/forum.php Much like trade2win but more focused towards forex.
http://forums.babypips.com/ Another forum dedicated to forex traders. You'll find people keeping good strategies here, list them via most views first to find the real gems.
MISCELLANEOUS RESOURCES N/A --------------------------------------------------------------------
http://www.forexfactory.com/showthread.php?t=520423 Some beast called Lester showing you how it is! Read this!
http://theinnercircletrader.com/Tutorials.htm If you watch all of these you're already a millionaire!
http://www.forex-warez.com/Free%20Download/ Every book you could ever want on trading, investing, market psychology, strategies etc.
http://www.forextradetracker.com/ SUPER IMPORTANT This website is paramount to your success, still in development but will provide users with an easy way to document trades. Success is determined by your willingness to follow through with the boring bits so keep this one in your bookmarks.
http://www.hotcandlestick.com/candlestick-pattern-flashcard-game.html Super useful Flashcard game that helps you to remember important candlestick patterns.
http://www.hotcandlestick.com/forex_charts.htm Important candlestick patterns that have appeared on the major currency pairs. Good for a quick overview.
http://www.freeonlinetradingeducation.com/chart-school.html Website offering visual illustration & practical applications of popular candlestick patterns.
http://www.hotcandlestick.com/candles.htm Glossary of candlestick patterns.
http://www.incrediblecharts.com/topic/Technical_Analysis Another resource for learning technical analysis. Not particularly thorough but useful for basic concepts.
http://www.forexschoolonline.com/ Market overviews and trading opportunity videos provided, along with educational videos and the like.
http://www.tradersdna.com/education/ Another trading education site focusing more on forex.
Edit - I've spent about 2 hours making this now. I hope you guys find it useful! I'll continue to update it and may you all find trading success. If you want to help me out spread the link! put it on forums or share it with friends. Good luck to you all and happy trading!
Edit 2 - My brain is fryed... time for a rest.
Edit 3 Once I've categorized this post making it easier to navigate i'll be adding books to read, videos to watch & the traders that will help on your journey to self-sufficiency. Happy trading everybody!
Edit 4 Moved the podcasts into the comments so there is more room here for extra sites.
submitted by Dannyboi93 to Forex [link] [comments]

fdfdfdfdfdf

https://www.amazon.com/1-page-marketing-plan-customers-money-ebook/dp/b01b35m3sm https://www.amazon.com/1-rule-process-achieve-wildest-ebook/dp/b079y68d9x https://www.amazon.com/2019-lottery-dream-numbers-book-ebook/dp/b07lg95psq https://www.amazon.com/25-day-challenge-veronica-isles-ebook/dp/b01cayt9zk https://www.amazon.com/30-day-attraction-experiment-quest-ebook/dp/b00clxbhew https://www.amazon.com/300-winning-lottery-affirmations-attraction-ebook/dp/b07p1wzh9w https://www.amazon.com/50th-law-50-cent-ebook/dp/b002m41tru https://www.amazon.com/allow-mastering-effort-receive-desires-ebook/dp/b01ar1aa3s https://www.amazon.com/amazing-life-lessons-which-change-ebook/dp/b079j5p75d https://www.amazon.com/abundance-code-julie-ann-cairns-ebook/dp/b00zb242xs https://www.amazon.com/advanced-ericksonian-hypnotherapy-scripts-jones-ebook/dp/b00irmfjtu https://www.amazon.com/advanced-law-attraction-techniques-manifestation-ebook/dp/b015mxnc3q https://www.amazon.com/advanced-magic-money-creating-abundance-ebook/dp/b071jq3l7h https://www.amazon.com/advanced-manifesting-attraction-attunement-vibrations-ebook/dp/b07qpbcd2m https://www.amazon.com/advanced-manifesting-made-easy-metaphysical-ebook/dp/b076nxxcqt https://www.amazon.com/affirmations-positive-reprogram-subconscious-manifest-ebook/dp/b00vee4eh6 https://www.amazon.com/affirmations-practical-techniques-unleash-subconscious-ebook/dp/b01apyy9j8 https://www.amazon.com/affirmations-success-positive-transform-attraction-ebook/dp/b00i10fw9u https://www.amazon.com/ageless-metabolic-cure-science-genetically-ebook/dp/b07phv3q18 https://www.amazon.com/alchemist-paulo-coelho-ebook/dp/b00u6sfuss https://www.amazon.com/alchemy-lovecrafts-library-book-1-ebook/dp/b004crsu3q https://www.amazon.com/are-builders-our-fortunes-self-reliance-ebook/dp/b00dk2u3xo https://www.amazon.com/art-non-conformity-rules-change-perigee-ebook/dp/b0042fzwc0 https://www.amazon.com/art-reading-people-manipulation-psychology-ebook/dp/b07nchwbh6 https://www.amazon.com/as-man-thinketh-james-allen-ebook/dp/b0788sfm2r https://www.amazon.com/ask-given-learning-manifest-attraction-ebook/dp/b00dj735o4 https://www.amazon.com/ask-until-given-minutes-god-like-ebook/dp/b07dfprhkw https://www.amazon.com/ask-your-guides-sonia-choquette-ebook/dp/b003h7evlc https://www.amazon.com/astonishing-power-emotions-attraction-book-ebook/dp/b009erlgai https://www.amazon.com/attract-good-luck-victoria-gallagher-ebook/dp/b00e4txsra https://www.amazon.com/attract-money-forever-companion-manifest-ebook/dp/b076ms6sfj https://www.amazon.com/attract-money-using-mind-power-ebook/dp/b076tsx5mx https://www.amazon.com/attunement-source-become-creator-manifest-ebook/dp/b07c483k3h https://www.amazon.com/aura-balancing-balance-satisfying-lives-ebook/dp/b00gb940za https://www.amazon.com/autobiography-andrew-carnegie-gospel-wealth-ebook/dp/b0030n6e3g https://www.amazon.com/awakened-imagination-linked-table-contents-ebook/dp/b01in0fk9y https://www.amazon.com/beat-odds-lottery-forex-trader-ebook/dp/b07cgyvhmp https://www.amazon.com/banned-manifestation-secrets-book-ebook/dp/b00hqk9efy https://www.amazon.com/basics-numerology-what-birthdate-about-ebook/dp/b00lh2z2ey https://www.amazon.com/be-what-you-wish-contents-ebook/dp/b00xe23mcy https://www.amazon.com/become-medical-intuitive-complete-developmental-ebook/dp/b00ql7h3zq https://www.amazon.com/becoming-supernatural-common-people-uncommon-ebook/dp/b0746rn3g7 https://www.amazon.com/beginning-magic-money-creating-abundance-ebook/dp/b071jq9ttz https://www.amazon.com/believe-yourself-dr-joseph-murphy-ebook/dp/b00dxx6rmq https://www.amazon.com/believe-yourself-dr-joseph-murphy-ebook/dp/b01kktndvi https://www.amazon.com/book-rental-property-investing-passive-ebook/dp/b018uti2do https://www.amazon.com/book-secret-wisdom-prophetic-evolution-ebook/dp/b011j4t1ge https://www.amazon.com/brain-fog-fix-mike-dow-ebook/dp/b00zb242re https://www.amazon.com/brain-rules-updated-expanded-principles-ebook/dp/b00jnyexam https://www.amazon.com/brave-leadership-confident-powerful-authentic-ebook/dp/b077zh91tg https://www.amazon.com/breaking-habit-being-yourself-dispenza-ebook/dp/b006m7a8ji https://www.amazon.com/call-heart-heralding-messiah-teaching-ebook/dp/b01gytdg2o https://www.amazon.com/change-me-prayers-spiritual-surrender-ebook/dp/b00nzwjdlc https://www.amazon.com/code-extraordinary-mind-unconventional-redefine-ebook/dp/b0182smobe https://www.amazon.com/communications-crash-course-conversations-communication-ebook/dp/b07q4gppj9 https://www.amazon.com/compendium-magical-things-communicating-divine-ebook/dp/b07c6thw37 https://www.amazon.com/complete-book-numerology-david-phillips-ebook/dp/b003x4lem8 https://www.amazon.com/complete-william-walker-atkinson-unabridged-ebook/dp/b01ckh7poo https://www.amazon.com/complete-works-florence-scovel-shinn-ebook/dp/b07978ghkg https://www.amazon.com/complete-works-florence-scovel-shinn-ebook/dp/b07qcp6cxw https://www.amazon.com/confident-now-victoria-gallagher-ebook/dp/b00722zn92 https://www.amazon.com/creation-frequency-universe-manifest-dreams-ebook/dp/b07bmglk49 https://www.amazon.com/crystal-healing-beginners-meditating-crystals-ebook/dp/b01ncmoei3 https://www.amazon.com/crystals-made-easy-judy-hall-ebook/dp/b07dn2zfdk https://www.amazon.com/day-attraction-experiment-vol-how-ebook/dp/b074mk4cp4 https://www.amazon.com/days-positive-self-talk-shad-helmstetter-ebook/dp/b01970f9ya https://www.amazon.com/declutter-your-mind-yogic-way-ebook/dp/b07gd5zbms https://www.amazon.com/develop-confidence-improve-public-speaking-ebook/dp/b07lgf7v56 https://www.amazon.com/develop-your-personal-mission-statement-ebook/dp/b00cwik2i8 https://www.amazon.com/disruptive-leadership-counterintuitive-successful-business-ebook/dp/b07qjwbyp4 https://www.amazon.com/done-final-step-instant-manifestations-ebook/dp/b00p80wyf6 https://www.amazon.com/dont-work-stupid-coach-yourself-ebook/dp/b07q5dn87n https://www.amazon.com/dynamic-laws-prosperity-impact-books-ebook/dp/b00nrkazm8 https://www.amazon.com/empath-intuition-matters-survival-meditation-ebook/dp/b07gxfb7qr https://www.amazon.com/egyptian-magic-illustrated-wallis-budge-ebook/dp/b00glzrk7o https://www.amazon.com/eight-pillars-prosperity-james-allen-ebook/dp/b01ly7ip3m https://www.amazon.com/energy-codes-7-step-system-awaken-ebook/dp/b07gnvhkdw https://www.amazon.com/essential-law-attraction-collection-ebook/dp/b00ea8ufnu https://www.amazon.com/essential-rudolf-steiner-introduction-supersensible-ebook/dp/b011xhtmti https://www.amazon.com/feeling-secret-neville-goddard-ebook/dp/b07mc56dyf https://www.amazon.com/financially-independent-millennial-millionaire-thirties-ebook/dp/b07prjg6s5 https://www.amazon.com/four-agreements-practical-personal-freedom-ebook/dp/b005brs8z6 https://www.amazon.com/frequency-manifesting-vibrations-attraction-manifestation-ebook/dp/b015bqhxd4 https://www.amazon.com/game-life-how-play-ebook/dp/b0788nzxcq https://www.amazon.com/gandhis-life-his-own-words-ebook/dp/b0779n9p6n https://www.amazon.com/genie-within-your-subconscious-mind-ebook/dp/b004i6d35q https://www.amazon.com/get-big-fast-more-good-ebook/dp/b00dqc9gdq https://www.amazon.com/get-rich-collection-50-books-ebook/dp/b07lc564kv https://www.amazon.com/get-unstuck-now-clarity-problem-ebook/dp/b0196fibqy https://www.amazon.com/god-function-consciousness-controlling-circumstances-ebook/dp/b076nzb2x7 https://www.amazon.com/goetia-pathworking-magickal-results-demons-ebook/dp/b07rx1kdqs https://www.amazon.com/good-vibes-life-self-love-unlocking-ebook/dp/b07c6t7xmw https://www.amazon.com/habits-highly-broke-people-destructive-ebook/dp/b07kyyy5x3 https://www.amazon.com/how-let-go-inspirational-eliminate-ebook/dp/b07l14qvb2 https://www.amazon.com/habits-highly-effective-people-powerful-ebook/dp/b01069x4h0 https://www.amazon.com/hack-your-mind-subconscious-neuroplasticity-ebook/dp/b07qjbsvmd https://www.amazon.com/happy-increase-simple-2-step-formula-ebook/dp/b008eed35i https://www.amazon.com/having-secret-feeling-growing-rich-ebook/dp/b07cwfbx12 https://www.amazon.com/hermetica-lost-wisdom-pharaohs-ebook/dp/b07fpvzkcx https://www.amazon.com/hero-secret-book-rhonda-byrne-ebook/dp/b00eb9z9z2 https://www.amazon.com/hidden-side-things-c-leadbeater-ebook/dp/b01b4unjca https://www.amazon.com/how-attract-money-joseph-murphy-ebook/dp/b07gy3qfvs https://www.amazon.com/how-day-trade-living-management-ebook/dp/b012c4au10 https://www.amazon.com/how-friends-influence-people-digital-ebook/dp/b004u7g81o https://www.amazon.com/how-get-your-back-days-ebook/dp/b01a5skaco https://www.amazon.com/how-master-self-hypnosis-weekend-systematic-ebook/dp/b00ffhhjne https://www.amazon.com/how-memorize-bible-easily-most-ebook/dp/b00npdk2l6 https://www.amazon.com/how-power-prayer-joseph-murphy-ebook/dp/b009o1phiq https://www.amazon.com/how-predict-future-creating-yourself-ebook/dp/b079nkc6g2 https://www.amazon.com/how-secret-changed-my-life-ebook/dp/b01co346eg https://www.amazon.com/how-stop-worrying-start-living-ebook/dp/b07k59ycnw https://www.amazon.com/how-win-friends-influence-people-ebook/dp/b07d62slyb https://www.amazon.com/how-win-friends-influence-people-ebook/dp/b07k5bw2hk https://www.amazon.com/how-win-lottery-attraction-important-ebook/dp/b07mbhqshr https://www.amazon.com/how-win-lottery-attraction-manifestation-ebook/dp/b00nh84t3g https://www.amazon.com/how-win-lottery-discover-strategies-ebook/dp/b07d7jc3fw https://www.amazon.com/how-win-lottery-techniques-significantly-ebook/dp/b00i0zezdk https://www.amazon.com/how-stop-worrying-start-living-ebook/dp/b01ncv2rir https://www.amazon.com/ignore-guy-get-survival-mastering-ebook/dp/b00c7vj1ka https://www.amazon.com/infinite-possibilities-living-your-dreams-ebook/dp/b002nt3b5w https://www.amazon.com/infinite-possibility-neville-goddard-create-ebook/dp/b07637y2mc https://www.amazon.com/intelligent-investor-collins-business-essentials-ebook/dp/b000fc12c8 https://www.amazon.com/invest-like-warren-buffett-strategies-ebook/dp/b01jusnelo https://www.amazon.com/its-not-your-money-abundance-ebook/dp/b07cwfgmjj https://www.amazon.com/james-allen-21-books-collection-ebook/dp/b073sdlbbn https://www.amazon.com/just-ask-universe-no-nonsense-manifesting-ebook/dp/b0060cj9dq https://www.amazon.com/keys-jacobs-outrageous-financial-prosperity-ebook/dp/b07rv52fml https://www.amazon.com/kybalion-hermetic-philosophy-ancient-greece-ebook/dp/b00dt7fw4k https://www.amazon.com/law-attraction-esther-hicks-ebook/dp/b009nlo7g0 https://www.amazon.com/law-attraction-manifest-anything-positive-ebook/dp/b01n34j6n4 https://www.amazon.com/law-attraction-money-manifest-rich-ebook/dp/b00dr2hp8s https://www.amazon.com/law-attraction-practical-exercises-action-ebook/dp/b00hlrxafm https://www.amazon.com/law-other-essays-manifestation-ebook/dp/b00g97fd6y https://www.amazon.com/law-other-essays-manifestation-ebook/dp/b07phzyc62 https://www.amazon.com/law-promise-neville-goddard-ebook/dp/b004nnunzw https://www.amazon.com/law-success-napoleon-hill-ebook/dp/b07r9wzk3x https://www.amazon.com/law-success-sixteen-lessons-ebook/dp/b00zf49nwm https://www.amazon.com/law-success-sixteen-lessons-ebook/dp/b07p6mdtbl https://www.amazon.com/law-success-napoleon-hill-ebook/dp/b01n1wkf7q https://www.amazon.com/leadership-code-amplifying-mindset-methods-ebook/dp/b07l62c1mj https://www.amazon.com/lethal-commit-relationship-dating-advice-ebook/dp/b00c833ipq https://www.amazon.com/life-changing-habits-personal-blueprint-happiness-ebook/dp/b06wgtms3p https://www.amazon.com/life-changing-habits-personal-blueprint-happiness-ebook/dp/b07nkp993s https://www.amazon.com/life-visioning-transformative-activating-potential-ebook/dp/b006vxpe06 https://www.amazon.com/little-book-common-sense-investing-ebook/dp/b075z6hscj https://www.amazon.com/little-money-bible-stuart-wilde-ebook/dp/b005d0k8cm https://www.amazon.com/living-flow-science-synchronicity-choices-ebook/dp/b07dmyw3qp https://www.amazon.com/lottery-strategic-approach-winning-games-ebook/dp/b07bvb465r https://www.amazon.com/lottery-winning-systems-turns-skill-ebook/dp/b00faz97uo https://www.amazon.com/lotto-wheel-five-gail-howard-ebook/dp/b00f0udu70 https://www.amazon.com/love-life-god-journey-creation-ebook/dp/b004kzorxw https://www.amazon.com/minutes-self-motivation-self-help-esteem-ebook/dp/b06xwdttvh https://www.amazon.com/money-master-game-financial-freedom-ebook/dp/b00mzaiu4g https://www.amazon.com/maat-laws-essentials-uwa-afu-ebook/dp/b01678c1iw https://www.amazon.com/magic-believing-claude-m-bristol-ebook/dp/b07ft19w2s https://www.amazon.com/magic-believing-claudie-bristol-ebook/dp/b07lgj62y9 https://www.amazon.com/magic-believing-original-classic-ebook/dp/b07nd38ymv https://www.amazon.com/magic-faith-unabridged-start-publishing-ebook/dp/b00bukiswq https://www.amazon.com/magic-intuition-florence-scovel-shinn-ebook/dp/b00f8kx5ls https://www.amazon.com/magic-money-journal-creating-abundance-ebook/dp/b0789fd9zx https://www.amazon.com/magic-money-mastery-creating-abundance-ebook/dp/b071g4ttyh https://www.amazon.com/magic-secret-book-3-ebook/dp/b006l9b6ti https://www.amazon.com/magick-angels-demons-practical-rituals-ebook/dp/b07p1vgqr8 https://www.amazon.com/magnum-opus-step-course-ebook/dp/b07mdstg1d https://www.amazon.com/man-thinketh-free-audiobook-classics-ebook/dp/b07gnqc26f https://www.amazon.com/manifest-wealth-prosperity-thought-servitors-ebook/dp/b018pxiiu2 https://www.amazon.com/manifest-your-dreams-missing-workbook-ebook/dp/b00m9lf3y6 https://www.amazon.com/manifest-your-millions-lottery-attraction-ebook/dp/b00f9ubqyk https://www.amazon.com/manifestation-manifesto-techniques-strategies-visualization-ebook/dp/b00ly7zbqg https://www.amazon.com/manifestation-matrix-manifest-believing-strategies-ebook/dp/b00ub49hbs https://www.amazon.com/manifestation-mindset-manifestor-overcome-strategies-ebook/dp/b019hko3ns https://www.amazon.com/manifestation-revelation-manifest-happiness-prosperity-ebook/dp/b01lyunrjv https://www.amazon.com/manifesting-love-attract-your-attraction-ebook/dp/b071kjp59l https://www.amazon.com/manifesting-love-attraction-specific-relationship-ebook/dp/b00agkv59y https://www.amazon.com/manifesting-secret-behind-law-attraction-ebook/dp/b009mo88ke https://www.amazon.com/mantras-motion-manifesting-through-movement-ebook/dp/b07c6tx2lh https://www.amazon.com/master-achievement-adversity-maximize-supercharge-ebook/dp/b07np4h7fl https://www.amazon.com/master-key-system-charles-haanel-ebook/dp/b078ngv6dv https://www.amazon.com/master-key-system-unlocked-ebook/dp/b006umlnn0 https://www.amazon.com/mastery-love-practical-relationship-toltec-ebook/dp/b005bsqwvm https://www.amazon.com/maximize-your-potential-expertise-incredible-ebook/dp/b00clvf2p4 https://www.amazon.com/mega-millions-tricks-winning-lottery-ebook/dp/b007q5xrzw https://www.amazon.com/millionaire-next-door-william-danko-ebook/dp/b00clt31d6 https://www.amazon.com/millionaires-genesis-their-prosperity-secrets-ebook/dp/b004nnutj2 https://www.amazon.com/mind-magic-beginners-simple-wanna-bees-ebook/dp/b07p5w1w91 https://www.amazon.com/mind-matter-astonishing-science-material-ebook/dp/b079nqxst4 https://www.amazon.com/mind-over-matter-self-discipline-impulses-ebook/dp/b07pwhk5dx https://www.amazon.com/miracle-club-thoughts-become-reality-ebook/dp/b07b328w4m https://www.amazon.com/miracle-mindfulness-introduction-practice-meditation-ebook/dp/b009u9s6vm https://www.amazon.com/miracles-stuart-wilde-ebook/dp/b00e8si7gy https://www.amazon.com/miracles-your-mind-unlock-potential-ebook/dp/b01n4i82kz https://www.amazon.com/modern-astrology-harness-discover-purpose-ebook/dp/b07j5j2n3n https://www.amazon.com/money-law-attraction-esther-hicks-ebook/dp/b004c03l3m https://www.amazon.com/morals-dogma-illustrated-albert-pike-ebook/dp/b00eti4i7a https://www.amazon.com/most-powerful-achievement-system-world-ebook/dp/b075fd3nk4 https://www.amazon.com/mudras-awakening-chakras-balancing-beginners-ebook/dp/b00p82coay https://www.amazon.com/mudras-memory-improvement-gestures-ultimate-ebook/dp/b00pfsp8tk https://www.amazon.com/mudras-ultimate-techniques-healing-mudra-ebook/dp/b00mmpb5ci https://www.amazon.com/mystical-words-power-magick-empowered-ebook/dp/b07ncyzfhl https://www.amazon.com/myth-revisited-small-businesses-about-ebook/dp/b000ro9vjk https://www.amazon.com/number-patterns-cracking-lottery-pick-ebook/dp/b06w2nxkrx https://www.amazon.com/napoleon-hill-road-riches-ebook/dp/b01i9nd10u https://www.amazon.com/numbers-their-occult-mystic-virtues-ebook/dp/b003icxiwe https://www.amazon.com/orison-swett-marden-premium-collection-ebook/dp/b0182fd0yc https://www.amazon.com/opportunity-business-create-life-love-ebook/dp/b07kns1g4g https://www.amazon.com/outrageous-openness-letting-divine-take-ebook/dp/b00j0yt4w2 https://www.amazon.com/pay-off-your-mortgage-years-ebook/dp/b07qvxxqdf https://www.amazon.com/positive-thoughts-change-your-believe-ebook/dp/b06y42xsjp https://www.amazon.com/powerball-how-play-roger-daneth-ebook/dp/b00ghuen5u https://www.amazon.com/passive-income-freedom-step-step-ebook/dp/b07mdtmdcr https://www.amazon.com/photographic-memory-beginners-practical-improvement-ebook/dp/b07kmbx8rf https://www.amazon.com/playing-matrix-deliberately-creating-consciously-ebook/dp/b073rr9tlg https://www.amazon.com/power-awareness-neville-goddard-ebook/dp/b07m6llsr6 https://www.amazon.com/power-awareness-neville-goddard-ebook/dp/b07pk44np1 https://www.amazon.com/power-intention-learning-co-create-world-ebook/dp/b000seij6a https://www.amazon.com/power-neuroplasticity-dr-shad-helmstetter-ebook/dp/b00hzs2hm4 https://www.amazon.com/power-positive-thinking-maximum-results-ebook/dp/b000fc0sxm https://www.amazon.com/power-positive-thinking-norman-vincent-ebook/dp/b06y17d216 https://www.amazon.com/power-secret-book-2-ebook/dp/b0049p1n3k https://www.amazon.com/power-spoken-word-florence-scovel-shinn-ebook/dp/b00bjgn51k https://www.amazon.com/power-your-spoken-word-affirmations-ebook/dp/b01gxol7gc https://www.amazon.com/power-your-subconscious-mind-ebook/dp/b00uru8beu https://www.amazon.com/power-your-subconscious-mind-ebook/dp/b07mxf6s4v https://www.amazon.com/power-your-subconscious-mind-ebook/dp/b07pjvjcqd https://www.amazon.com/power-your-subconscious-mind-ebook/dp/b0767qqbbj https://www.amazon.com/power-your-subconscious-other-works-ebook/dp/b00ge32rrg https://www.amazon.com/practical-law-attraction-manifesting-successfully-ebook/dp/b07nc27m19 https://www.amazon.com/pranayama-science-ultimate-breathing-techniques-ebook/dp/b075kpdp7h https://www.amazon.com/pray-gods-word-daily-houge-ebook/dp/b019x8wd6i https://www.amazon.com/prayer-that-gets-results-ebook/dp/b01naakzk0 https://www.amazon.com/prince-niccol%c3%b2-machiavelli-ebook/dp/b0788mywmh https://www.amazon.com/prosperity-bible-greatest-writings-secrets-ebook/dp/b07lc5y33h https://www.amazon.com/prosperity-bible-greatest-writings-secrets-ebook/dp/b07nxtygxr https://www.amazon.com/prosperity-bible-greatest-writings-secrets-ebook/dp/b07qgnynhb https://www.amazon.com/psyche-skills-dating-relationship-advice-ebook/dp/b00ftevilm https://www.amazon.com/psychoanalyzing-twelve-zodiacal-types-palmer-ebook/dp/b00usc6tm8 https://www.amazon.com/psychology-selling-increase-thought-possible-ebook/dp/b000seqkrk https://www.amazon.com/qabalah-made-easy-discover-practical-ebook/dp/b07dn22xzh https://www.amazon.com/quantum-sorcery-basics-theory-practice-ebook/dp/b00ewyvrzw https://www.amazon.com/quick-easy-way-effective-speaking-ebook/dp/b01ncuzgo6 https://www.amazon.com/radical-approach-akashic-records-vibration-ebook/dp/b07g681w74 https://www.amazon.com/real-law-attraction-abundance-prosperity-ebook/dp/b07h4h4zdt https://www.amazon.com/reality-unveiled-hidden-existence-transform-ebook/dp/b01n392e8n https://www.amazon.com/relax-more-try-less-abundance-ebook/dp/b010965p4u https://www.amazon.com/rich-dad-poor-teach-middle-ebook/dp/b0175p82ra https://www.amazon.com/rich-dad-poor-teach-middle-ebook/dp/b07c7m8sx9 https://www.amazon.com/rich-dads-before-quit-your-ebook/dp/b01b11tsww https://www.amazon.com/rich-dads-cashflow-quadrant-financial-ebook/dp/b0175p5mzu https://www.amazon.com/rich-dads-guide-investing-invest-ebook/dp/b01drwrz64 https://www.amazon.com/richest-man-babylon-ancients-inspiring-ebook/dp/b07bb5n17s https://www.amazon.com/richest-man-babylon-george-clason-ebook/dp/b07h7hn6dn https://www.amazon.com/richest-man-babylon-laws-wealth-ebook/dp/b00d4yepr8 https://www.amazon.com/richest-man-babylon-original-classic-ebook/dp/b07nd3361p https://www.amazon.com/secrets-attracting-money-wealth-including-yourself-ebook/dp/b07hdb147f https://www.amazon.com/see-you-at-top-anniversary-ebook/dp/b0047t78tq https://www.amazon.com/self-help10-think-become-nobody-stop-ebook/dp/b01due41bq https://www.amazon.com/sales-management-simplified-straight-exceptional-ebook/dp/b01019d3qc https://www.amazon.com/science-getting-rich-wallace-wattles-ebook/dp/b000fc25tc https://www.amazon.com/science-getting-rich-wallace-wattles-ebook/dp/b0023sdpt0 https://www.amazon.com/science-getting-rich-wallace-wattles-ebook/dp/b00okworo4 https://www.amazon.com/science-getting-rich-wallace-wattles-ebook/dp/b06xpvc236 https://www.amazon.com/science-mind-definitive-ernest-holmes-ebook/dp/b001r6otk8 https://www.amazon.com/science-self-empowerment-awakening-human-story-ebook/dp/b07k3r1w1s https://www.amazon.com/secret-book-dzyan-unveiling-manuscript-ebook/dp/b07jr8dvzz https://www.amazon.com/secret-daily-teachings-rhonda-byrne-ebook/dp/b00cvqymb4 https://www.amazon.com/secret-doctrine-complete-petrovna-blavatsky-ebook/dp/b006k3j9jy https://www.amazon.com/secret-doctrines-rosicrucians-ancient-mysteries-ebook/dp/b01b1jgkuw https://www.amazon.com/secret-door-success-florence-scovel-shinn-ebook/dp/b00bukir5o https://www.amazon.com/secret-imagining-neville-goddard-ebook/dp/b00nqiar6k https://www.amazon.com/secret-infinite-intelligence-2nd-ebook/dp/b01lvtlm27 https://www.amazon.com/secret-law-attraction-master-intention-ebook/dp/b01bo8kabk https://www.amazon.com/secret-rhonda-byrne-ebook/dp/b002m5e2dw https://www.amazon.com/secret-success-florence-scovel-shinn-ebook/dp/b00j96vn1g https://www.amazon.com/secrets-millionaire-mind-mastering-wealth-ebook/dp/b000fcjz3g https://www.amazon.com/see-yourself-you-want-be-ebook/dp/b01lqu0t1m https://www.amazon.com/selling-you-napoleon-hill-ebook/dp/b01i9nd4os https://www.amazon.com/seven-spiritual-laws-success-fulfillment-ebook/dp/b005by3xhc https://www.amazon.com/shamanism-made-easy-develop-shamanic-ebook/dp/b07dn1hphm https://www.amazon.com/signature-all-things-jacob-boehme-ebook/dp/b001bdi55m https://www.amazon.com/six-figure-blogging-blueprint-profitable-ebook/dp/b07r7z2h69 https://www.amazon.com/sky-limit-upgrading-including-thinketh-ebook/dp/b07lc64g7d https://www.amazon.com/small-changes-mind-productivity-happiness-ebook/dp/b00w8q11v6 https://www.amazon.com/soulmate-secret-manifest-love-attraction-ebook/dp/b001nll310 https://www.amazon.com/souls-brain-neurology-intuition-critters-ebook/dp/b07cwf5jkg https://www.amazon.com/spirit-means-business-prosper-without-ebook/dp/b07d6b92cx https://www.amazon.com/spontaneous-manifestations-zero-tapping-universal-ebook/dp/b011eplpl2 https://www.amazon.com/squared-pam-grout-ebook/dp/b00b2jsras https://www.amazon.com/start-up-curve-steps-entrepreneurial-success-ebook/dp/b01k8orqk4 https://www.amazon.com/step-tarot-complete-course-readership-ebook/dp/b009ul5226 https://www.amazon.com/strangest-secret-earl-nightingale-ebook/dp/b0067qv140 https://www.amazon.com/strangest-secret-earl-nightingale-ebook/dp/b0788qs6fx https://www.amazon.com/succeed-lotto-even-where-start-ebook/dp/b071w4vgbq https://www.amazon.com/success-inevitable-potential-confidence-principles-ebook/dp/b07qlnp11d https://www.amazon.com/tnt-rocks-claude-m-bristol-ebook/dp/b007z7g7fs https://www.amazon.com/transcending-maya-matrix-co-creation-self-realization-ebook/dp/b0795xg471 https://www.amazon.com/tarot-made-easy-learn-interpret-ebook/dp/b07dmz3rm2 https://www.amazon.com/ten-metaphysical-secrets-manifesting-money-ebook/dp/b076pfvsx5 https://www.amazon.com/texts-good-cant-ignore-high-quality-ebook/dp/b07b6v5fy1 https://www.amazon.com/think-grow-rich-napoleon-hill-ebook/dp/b0743fcv3w https://www.amazon.com/think-grow-rich-napoleon-hill-ebook/dp/b079f2czty https://www.amazon.com/think-grow-rich-napoleon-hill-ebook/dp/b07drrsqv7 https://www.amazon.com/think-grow-rich-original-revisedtm-ebook/dp/b00vvn4yfw https://www.amazon.com/think-grow-rich-original-unedited-ebook/dp/b07n1w6w37 https://www.amazon.com/think-yourself-rich-subconscious-wealth-ebook/dp/b01e7fwps8 https://www.amazon.com/third-eye-awakening-techniques-awaken-ebook/dp/b01cqd0gkm https://www.amazon.com/thomas-troward-six-book-collection-annotated-ebook/dp/b078hzdz5d https://www.amazon.com/thought-vibration-law-attraction-world-ebook/dp/b00pzqjzfk https://www.amazon.com/thought-vibration-law-attraction-world-ebook/dp/b07phv7p2n https://www.amazon.com/thoughtless-magic-manifestations-through-protocols-ebook/dp/b016e578gi https://www.amazon.com/total-law-attraction-unleash-creative-ebook/dp/b00ayidrxu https://www.amazon.com/trick-money-having-some-ebook/dp/b004bsg8xk https://www.amazon.com/trifecta-secret-wealth-abundance-higher-ebook/dp/b00ivomq1i https://www.amazon.com/ultimate-secrets-total-self-confidence-ebook/dp/b001tmcezc https://www.amazon.com/unbeatable-mind-3rd-resiliency-toughness-ebook/dp/b00tzfeerq https://www.amazon.com/unlimited-attraction-workbook-accelerate-manifestation-ebook/dp/b01mu866yb https://www.amazon.com/unscripted-entrepreneurs-success-advice-stories-ebook/dp/b07dq97rsd https://www.amazon.com/untethered-soul-journey-beyond-yourself-ebook/dp/b003tu29wa https://www.amazon.com/vortex-law-attraction-book-ebook/dp/b003qxmypw https://www.amazon.com/ways-change-your-life-esteem-ebook/dp/b01n0jtea8 https://www.amazon.com/wallace-d-wattles-ultimate-collection-ebook/dp/b013paazds https://www.amazon.com/wallace-wattles-collection-annotated-illustrated-ebook/dp/b01bls8jxy https://www.amazon.com/way-wealth-franklin-money-success-ebook/dp/b005z4g3h0 https://www.amazon.com/way-wealthy-footsteps-john-hanna-ebook/dp/b07kk497h2 https://www.amazon.com/what-self-made-millionaires-know-people-ebook/dp/b076y1xg6s https://www.amazon.com/what-you-wish-neville-goddard-ebook/dp/b07d1dqtwd https://www.amazon.com/what-you-wish-neville-goddard-ebook/dp/b07r2nh8x5 https://www.amazon.com/wisdom-buddha-unabridged-dhammapada-editions-ebook/dp/b00a73a94w https://www.amazon.com/wisdom-genevieve-behrend-invisible-attaining-ebook/dp/b00pqhzcf0 https://www.amazon.com/wishes-fulfilled-wayne-w-dyer-ebook/dp/b006m9vfei https://www.amazon.com/work-smart-business-hypnotizing-million-dollar-ebook/dp/b07mzxcd3b https://www.amazon.com/works-famous-little-makes-dreams-ebook/dp/b005x7f49c https://www.amazon.com/you-be-detox-limitations-awesome-ebook/dp/b079nnj3lq https://www.amazon.com/your-business-rules-live-money-ebook/dp/b07pmnst48 https://www.amazon.com/your-faith-fortune-neville-goddard-ebook/dp/b00dxxikps https://www.amazon.com/your-infinite-power-rich-subconscious-ebook/dp/b01e7fut2w https://www.amazon.com/your-subconscious-brain-change-life-ebook/dp/b07dt152n2 https://www.amazon.com/your-word-florence-scovel-shinn-ebook/dp/b005bypgue
submitted by tiddu to tiddu [link] [comments]

Proven Forex Trading Strategies That Work (for 2020) - YouTube Forex Millionaire Trader Secret Best Forex Strategy Forex ... TRUTH about the Millionaire Forex Trading Lifestyle - YouTube HERE’S THE STRATEGY TO WIN TRADING FOREX! - YouTube SA forex millionaires - John Ghatti forex lifestyle ... This Forex Strategy Made Me A Millionaire (For Beginners ... Top 5 Forex trading millionaires in South Africa 2020 ... SA forex millionaires - Binary Forex Mosa lifestyle of ...

Millionaires in forex. There are many who have made their fortunes in forex. The biggest haul in history is how Gorge Soros made his fortune. No. 1: George Soros Vs. The British Pound In 1992 British pound exchange rate versus other European currencies was fixed by the bank of England. In order to maintain that value, the bank set their interest rate at a high level, similar to the one offered ... Forex Trading Millionaires Strategies. All three of the traders above show you the path to becoming a millionaire with their strategies and ways of trading. The only one that is absolutely free is Eric Garrison’s which you can find by clicking the free strategy page above. The reason I send people to this page is because it is very easy to trade this strategy. You simply use 7 different ... People spend years polishing their trading skills and knowledge, experimenting with different strategies, and choosing those that work best for them. In that process, they stamp their right to be called the most successful Forex trading millionaires with huge capital and worldwide fame. Yet it is also important to point out that not all traders prefer to show off their success. In fact, it is ... If you want to start online Forex trading in 2020 or just looking for best Forex trading strategies that work, then you’ve come to the right place.. Or if you want to learn Price Action trading then if you click this link, you’d be taken to my very comprehensive Price Action Trading Course …and yes, it’s FREE. You have full access to hundreds of free Forex trading strategies and ... Currency Trading Strategies that Work in 2020 – The 3 Pillars. Day Trading Cryptocurrency – How To Make $500/Day with Consistency. Forex Trading for Beginners. How to Trade With Exponential Moving Average Strategy. Shooting Star Candle Strategy. Swing Trading Strategies That Work. The Best Bitcoin Trading Strategy - 5 Simple Steps (Updated) Undeniably Forex trading millionaires work hard for their money! None of this success has been merely handed to them. Instead, they’ve achieved it all solely through hard work. The Forex industry, though an incredible and entertaining environment, requires an unbelievable amount of hard work and commitment if it is to make you money. Therefore, those that have managed to make money in the ... Forex Trading Millionaires Strategies. September 12, 2017 admin Forex. How to be the Warren Buffet of Forex market. Many traders come across the endless sea of the internet and searched a name like Warren Buffet in Forex market but sadly failed. A lot of beginner traders in Forex try to find someone who made millions and billions from scratch in the Forex market but they never found someone ... Imagine taking a $12,000 inheritance from your grandmother and turning that into billions of dollars trading? This is the story of Bill Lipschutz, and calling him a millionaire forex trader is an insult because as a matter of fact, he is not a millionaire forex trader but a billionaire forex trader. [toc] Background Of Bill Lipschutz Some Simple Forex Trading Strategies That Work. Below are some simple strategies in forex trading that can be used by anyone quickly. These are strategies that have been proven to work. They are also easy to learn and implement. You can also use them for long term profits. Unlike common belief where people think that the more complex your forex strategy is, the more likely you are to profit ... 5 Free Forex Trading Strategies that Actually Work . So, you’ve made a decision to change your life drastically and become a trader. However, be prepared – all novices in FX trading make the same common mistake in the very beginning. Whether they are too optimistic and believe the can become millionaires in a few days or they tend to be quite pessimistic, thinking that only super-smart ...

[index] [20791] [9498] [2154] [114] [17619] [15239] [2542] [240] [23119] [10158]

Proven Forex Trading Strategies That Work (for 2020) - YouTube

SA forex millionaires - Binbary Forex Mosa lifestyle of money making from online trading. SA #forex #millionaires - Binary Forex Mosa lifestyle of money. #Fo... Trading forex is not easy but with the right information you can make money in the market check how I’m able to analyze and predict trades so I can make mone... Discover proven Forex trading strategies that work so you can beat the markets in 2020 and beyond. 👇 SUBSCRIBE TO RAYNER'S YOUTUBE CHANNEL NOW 👇 https://www.... Top 5 #Forex trading millionaires in South Africa 2020 #toptrader #Sandile_shezi DISCLAIMER: past results dont garauntee future gains. REGISTER FOR perfect entry trading system t.me/perfectentrytradingsystem Full educational platform, dai... SA forex millionaires - John Ghatti forex lifestyle - making money with private wealth robot EA. John Ghatti is the founder of winners ground forex mentorshi... Copy My Pro Forex Signals For FREE today! https://WWW.FXLIFESTYLE.COM FOLLOW MY FACEBOOK https://www.facebook.com/fxlifestyleteam ADD MY SNAPCHAT FXL... The forex trading lifestyle is not what you think. I want to tell you the truth about forex trading for aliving so that you know what to expect. The milliona...

http://binaryoptiontrade.neowaworsparmafor.tk