Hedging Strategies – How to Trade Without Stop Losses
Hedging Strategies – How to Trade Without Stop Losses
10 Ways to Avoid Losing Money in Forex - Investopedia
The Best Foreign Exchange Trading Advice You Will Ever
Forex: Guaranteed Stop-Loss vs Non-Guaranteed Stop-Loss
10 Big Mistakes Forex Day Traders Make - thebalance.com
My timeline of 20 years of trading (good and bad) to profitability
Tips for picking mentors This is what works for me, and what I would tell my younger self. Don't let anyone tell you who's good or not, and who's helpful or not. Always start with an open mind. I follow Ferrari flashing you tube traders and dry professorial educators who use pen and paper. All that matters is that they help you make money.
I believe you should pay for education if you can afford it, not alerts, memberships, clubs or groups. Choose people who empower you to be self sufficient. "Leaving chatrooms" is the concept new traders get the most upset about but I don't know one professional trader who uses a chatroom. Education, not replication. Some paid mentors are great traders, some aren't. Start with their free stuff to see if you are a good fit before paying for anything. Do not invest in anything that you will not learn for your life time (no "trade alert" groups that will be gone one day and you will no longer be able to make money). Teachers, not gurus. If people make money or how much they make does not matter. All that matters if they help you make money.
On that note: What are the motivations of the person you want to learn from/get tips from? Are they showing you charts and a high level of technical skill or just talking about stocks in a sports car or at a swimming pool? Even if they are good traders that people aspire to be like these, you cannot copy your way to success long term.
Admit how little you know. I cannot tell you how many times i have been positive i knew something and changed my mind. I always say, when I knew 1% i thought I knew it all. At 5% I was sure I knew it all. Now I know I know it all - so I probably know 10%. The reason I post and tweet is it makes me accountable so it raises my game. Find someone you can be accountable to.
Ask for a full course outline. If they are honest they will have no problem giving it to you. You should not have to pay for something to find out what you are getting.
There are good free groups so there is no reason to pay for one if that's your objective. Rather than join Fintwit or StockTwits, start creating your own curated list of twitter or reddit people to follow who make you a better trader and challenge you to be better. You should always know less than the people you follow with the goal of learning from them not replicating them. When you surpass their teaching level, move on to a higher tier of people. It's fine to stay old friends, just upgrade your social group from time to time. Some people are just social animals but really take some time and evaluate who else is in that room with you. There are some diamonds, just in a lot of rough.
Some of the more popular trade groups appear to be thousands of people paying thousands of dollars to be cheerleaders while they watch highly skilled marketers doing very average trading. If If I sign up 10 members a day for a thousand dollar monthly membership fee and then deposit that 10k in my Ameritrade account right now, it shows it as "trading profit" for the day. Just saying. You shouldn't have to the question the people you trust.
Just think about how you spend your day. Are you watching chat or twitter scroll by while you wait for a "tip". Then you buy at the top, it goes down and you take a loss. Over and over and over.
If you don't cut that routine off, it will never end until you blow up.
Turn it all off and go find out how to find your own stocks. You may be terrible at it and lose money. But are you losing money anyway? I'm perfectly capable of going broke myself. I 'd rather not let someone else help me doing it.
I am not the best trader. I am good at learning efficiently. Find out what your skills are and use them. Find out what your weaknesses are and find a way to make up for them.
Why I promote paid education
A lot of people say you can learn from free videos. I think most of those people don't have a very realistic idea of how little they know. Good education programs offer very specific and detailed information is miles above the free videos. You can become profitable from free videos but I don't like them for this reason:
I think it is imporant to have a structured (beginner, intermediate, advanced etc.) class that builds on previously taught elements under the guidance od the same teacher. If you mix and match different mentors and videos you will get a lot of differnt opinions. Once I paid for proper education I could then go back to those videos and I knew what I liked best. I did not have to have someone tell me what to use. I know I like a 15 EMA on a minute chart and a 20 on a daily. I can't exactly say why, I just know those yield the most profitable setups for me. Other people use other setups. There's no right answer, just whats right for me.
While I promote paid education for your your first introduction., I do free stuff but thats because I am a trader just like you. I have no interest in sales or marketing or customer service.
I am 41. 16 (1995): Started designing web pages for friends and family and local businesses. 18 (1997): Opened my first account with $10k on parents advise but had little interest. Started a pro-gaming league hosting tournaments around the country for Starcraft. 20: (1999) Had an established client based now (LSU Tigers website and first online auction service, Texas Roadhouse, et al) Saved $25k now from working. Decided to pay taxes for the first time. Suddenly became very conservative (fiscally) and wanted to know how to make back the money the Government just stole from me (preferably directly from them).
(2001) Became very ill and had to drop out of college and quit my businesses. I slowly lost every friend and contact I had made since childhood.
Spent the last 15 years Warren-Buffetting (buying things I know that seem affordable) my way up and down from 5$k - $35k. I was good enough to be able to take money out to live and had a little family money (from a portion of a family insurance company I provided services for) that I lived comfortably. I blew up a few times a long the way and didn't know what a candlestick was.
Went into liver failure and ICU at Mayo Clinic. Got out a year later weighing 90 pounds.
39-41. Started turning a corner. I started reading Daytrading and met an ex-gambler (gone now) who was posting occasional watch lists of gappers and ran a discord chatroom calling breakout ORB5 setups. I noticed he picked a lot of winners and did not want to copy him but wanted to know HOW he picked them. I joined his room. I think he had started it the day before because there were like 3 of us. He was offering instruction on how to scan for break out long and short possibilies on FinViz. (Long https://bit.ly/2ZV8LQK: Short: https://bit.ly/2O6oo2B ) I was literally like.. "whats a vwap". He was so patient with me and we became friends. He moved on to bigger goals since then but we are still in touch. I was making nearly $2k a day following his alerts. He was a good mentor (luckily) because he never told me entries or exits. he would tell me his thoughts but never specifics - that was up to me. I learned a great deal from him, but once he left I could not pick the winners like he could. I could trade stocks but I could not pick stocks. I wanted to find winners on my own. I ended up paying him about $90 for a an hour "lesson" after we quite some time but I was already profitable and already knew everything he went over but I wanted to support him and be his first paid endoresement. He was so good at picking winners and losers that he was actually offered a lucritive private job and he accepted. He was the first person who changed my trading life. (I did pay for a couple "indicators and services" and that I ..learned a lot from the lesson in stupidity they gave me but will not mention them by name. I'm sure my timing on things is a little off on details. When I say I bought an "indicator" this means a specific tool used to do something that I cannot do myself or to make up for a weakness I have (counting waves). Not a "green arrow buy and green arrow to sell" indicator.) I literally googled "how to stop having trades turn against you" and watched a video I would later learn was on Stochstic Divergences from someone named Barry Burns. I researched him and watched about a hundred of his videos and was fascinated. I read one concerning review but then read that the person never took his courses and was just made because he would not provide financial statements as proof he was a profitable trader. (he does not give trade alerts, he's just an instructor so he never does this). I took a webinar on the weekend. He does one weekly at least. He asked for 250 people max and a thousand showed up. He had a chatbox and answered my question personally so after that I felt confident enough to pay him for course. I emailed him and he responded personally with a course outline. I took a beginner course and was dying to learn more. He just happened to have a special for basically every course he's ever done for half the cost. I decided this was a way to trade that spoke to my strengths and I wanted to try to master it so I did it all. Beginner to masterclass, trends, scalps, reversals, fib, cycles, waves, crosses, sector research, futures, options, stocks, forex, minute charts to yearly, tick , heikin ashi, divergences.. it went on and on and I ate it up with a spoon. At the same time I started reading books. We correspond through emails still and sometime's hes busy. I don't know if he even knows who I am but he was the second person who changed my trading life. I knew a lot but I was losing (often more) money. I was a "doctor" (maybe an high-school nurse) who had read a book on surgery but never done it and said "sure.. I can transplant a heart!" Rather than focus on my teachings and understanding what I was learning, I got impatient and moved on too quickly. Anything I mention I did find helpful but not always at the time that I found it. I should have mastered each item then added to my already profitable program. I had neither of those things. The course I took from Barry Burns had some custom indicators for some platforms, but none I used. They were not "premium indicators" so to speak of little buy now arrows, but simply auto labeling of waves and cycles, auto drawing of some divergences etc. He teaches counting different from anyone else I've seen so standard Elliot wave theory did not work. I was frustrated. I was wondering if I made a mistake learning something differently than other people. (in the end it was irrelevant. It was an understanding of concepts and theory that mattered. The means by which you learned it is far less important. I would definitely take his courses again as my entry into trading if I did it again) I knew how to trade I did not know what or when to trade them. I found a man named Robert Payne. He writes custom indicators for thinkorswim, many of which are are only available on other platforms. I had a lot of programming experience so I bought a couple of things from him and started studying his code. He was amazing! His code is top quality and his indicators actually were very good. And they did start helping me find a few setups. But they were expensive and nothing lasted. I would buy a Wolfe Wave indicator and learn to trade it but not understand what it was doing. We e-mailed back and fourth for a little while as he was teaching me how to use his stuff. He introduced me to a number of people (who often were behind the original indicators he was trying to replicate) and for that I am most grateful to him. The first and most influential to me later was Scott Carney. Scott runs HarmonicTrader.com. He sells a very reasonable (I think its like 20 bucks a month when he does a sale) where you get a morning trade meeting about the market and futures commodities harmonics that are setting up, a harmonic pattern indicator for almost any platform (some are far better than others)) and books and videos all focused on this one thing he has dedicated his life to. I went to culinary school for a year. My first Chef instructor told our class on day one: "always source from people who specialize in one thing". On dozens of trips to Mexico in my youth we would drive ATC's up dirt roads to these small shacks. The last house on the left was Lupe and she always had a baby in one arm and a ladle in the other where she pour tortilla batter on a griddle press. I doubt it was clean, everything was covered in dirt from the windy sandy landscape - but they were the best damn tortilla's in the world. Scott Carney is my chubby little Mexican goddess of trading Harmonic patterns and the third person who changed my trading life. (and he would not be happy if I called him that) At this point I was struggling to find tradable stocks still. I started leaving all my chatrooms and twitter groups and message boards. I limit my twitter to people who trade better than me or up-my-game in some way. I try not to "mingle" with people of my skill level too much. I want to be challenged constantly. I met a few more mentors but no more paid programs. Instead I pay for services like good websites and platforms that help me make my own decisions. I started associating and following expert technicians and I learn from every day and week in videos charts and tweets. Now when I see this: https://chrt.biz/LOVE/12425esmrhl/chart/ This is what I see in my head. https://chrt.biz/LOVE/12425equ72v/chart/ and when I see this https://chrt.biz/CCH/12425esm49g/chart/ I see this https://chrt.biz/CCH/12425eqxxj4 And when I have nothing to trade, I can write my own scan and find my own winner and trade it without outside help. There was no short cut. I put hours and hours and hour and hours in charting a hundred charts a day. Repetition = learning. Just make sure you are learning something you won't regret.
Forex Trading: a Beginner's Guide The forex market is the world's largest international currency trading market operating non-stop during the working week. Most forex trading is done by professionals such as bankers. Generally forex trading is done through a forex broker - but there is nothing to stop anyone trading currencies. Forex currency trading allows buyers and sellers to buy the currency they need for their business and sellers who have earned currency to exchange what they have for a more convenient currency. The world's largest banks dominate forex and according to a survey in The Wall Street Journal Europe, the ten most active traders who are engaged in forex trading account for almost 73% of trading volume. However, a sizeable proportion of the remainder of forex trading is speculative with traders building up an investment which they wish to liquidate at some stage for profit. While a currency may increase or decrease in value relative to a wide range of currencies, all forex trading transactions are based upon currency pairs. So, although the Euro may be 'strong' against a basket of currencies, traders will be trading in just one currency pair and may simply concern themselves with the Euro/US Dollar ( EUUSD) ratio. Changes in relative values of currencies may be gradual or triggered by specific events such as are unfolding at the time of writing this - the toxic debt crisis. Because the markets for currencies are global, the volumes traded every day are vast. For the large corporate investors, the great benefits of trading on Forex are:
Enormous liquidity - over $4 trillion per day, that's $4,000,000,000. This means that there's always someone ready to trade with you
Every one of the world's free currencies are traded - this means that you may trade the currency you want at any time
Twenty four - hour trading during the 5-day working week
Operations are global which mean that you can trade with any part of the world at any time
From the point of view of the smaller trader there's lots of benefits too, such as:
A rapidly-changing market - that's one which is always changing and offering the chance to make money
Very well developed mechanisms for controlling risk
Ability to go long or short - this means that you can make money either in rising or falling markets
Leverage trading - meaning that you can benefit from large-volume trading while having a relatively-low capital base
Lots of options for zero-commission trading
How the forex Market Works As forex is all about foreign exchange, all transactions are made up from a currency pair - say, for instance, the Euro and the US Dollar. The basic tool for trading forex is the exchange rate which is expressed as a ratio between the values of the two currencies such as EUUSD = 1.4086. This value, which is referred to as the 'forex rate' means that, at that particular time, one Euro would be worth 1.4086 US Dollars. This ratio is always expressed to 4 decimal places which means that you could see a forex rate of EUUSD = 1.4086 or EUUSD = 1.4087 but never EUUSD = 1.40865. The rightmost digit of this ratio is referred to as a 'pip'. So, a change from EUUSD = 1.4086 to EUUSD = 1.4088 would be referred to as a change of 2 pips. One pip, therefore is the smallest unit of trade. With the forex rate at EUUSD = 1.4086, an investor purchasing 1000 Euros using dollars would pay $1,408.60. If the forex rate then changed to EUUSD = 1.5020, the investor could sell their 1000 Euros for $1,502.00 and bank the $93.40 as profit. If this doesn't seem to be large amount to you, you have to put the sum into context. With a rising or falling market, the forex rate does not simply change in a uniform way but oscillates and profits can be taken many times per day as a rate oscillates around a trend. When you're expecting the value EUUSD to fall, you might trade the other way by selling Euros for dollars and buying then back when the forex rate has changed to your advantage. Is forex Risky? When you trade on forex as in any form of currency trading, you're in the business of currency speculation and it is just that - speculation. This means that there is some risk involved in forex currency trading as in any business but you might and should, take steps to minimise this. You can always set a limit to the downside of any trade, that means to define the maximum loss that you are prepared to accept if the market goes against you - and it will on occasions. The best insurance against losing your shirt on the forex market is to set out to understand what you're doing totally. Search the internet for a good forex trading tutorial and study it in detail- a bit of good forex education can go a long way!. When there's bits you don't understand, look for a good forex trading forum and ask lots and lots of questions. Many of the people who habitually answer your queries on this will have a good forex trading blog and this will probably not only give you answers to your questions but also provide lots of links to good sites. Be vigilant, however, watch out for forex trading scams. Don't be too quick to part with your money and investigate anything very well before you shell out any hard-earned! The forex Trading Systems While you may be right in being cautious about any forex trading system that's advertised, there are some good ones around. Most of them either utilise forex charts and by means of these, identify forex trading signals which tell the trader when to buy or sell. These signals will be made up of a particular change in a forex rate or a trend and these will have been devised by a forex trader who has studied long-term trends in the market so as to identify valid signals when they occur. Many of the systems will use forex trading software which identifies such signals from data inputs which are gathered automatically from market information sources. Some utilise automated forex trading software which can trigger trades automatically when the signals tell it to do so. If these sound too good to be true to you, look around for online forex trading systems which will allow you undertake some dummy trading to test them out. by doing this you can get some forex trading training by giving them a spin before you put real money on the table. How Much do you Need to Start off with? This is a bit of a 'How long is a piece of string?' question but there are ways for to be beginner to dip a toe into the water without needing a fortune to start with. The minimum trading size for most trades on forex is usually 100,000 units of any currency and this volume is referred to as a standard "lot". However, there are many firms which offer the facility to purchase in dramatically-smaller lots than this and a bit of internet searching will soon locate these. There's many adverts quoting only a couple of hundred dollars to get going! You will often see the term acciones trading forex and this is just a general term which covers the small guy trading forex. Small-scale trading facilities such as these are often called as forex mini trading. Where do You Start? The single most obvious answer is of course - on the internet! Online forex trading gives you direct access to the forex market and there's lots and lots of companies out there who are in business just to deal with you online. Be vigilant, do spend the time to get some good forex trading education, again this can be provided online and set up your dummy account to trade before you attempt to go live. If you take care and take your time, there's no reason why you shouldn't be successful in forex trading so, have patience and stick at it!
The majority of this sub is focused on technical analysis. I regularly ridicule such "tea leaf readers" and advocate for trading based on fundamentals and economic news instead, so I figured I should take the time to write up something on how exactly you can trade economic news releases. This post is long as balls so I won't be upset if you get bored and go back to your drooping dick patterns or whatever.
How economic news is released
First, it helps to know how economic news is compiled and released. Let's take Initial Jobless Claims, the number of initial claims for unemployment benefits around the United States from Sunday through Saturday. Initial in this context means the first claim for benefits made by an individual during a particular stretch of unemployment. The Initial Jobless Claims figure appears in the Department of Labor's Unemployment Insurance Weekly Claims Report, which compiles information from all of the per-state departments that report to the DOL during the week. A typical number is between 100k and 250k and it can vary quite significantly week-to-week. The Unemployment Insurance Weekly Claims Report contains data that lags 5 days behind. For example, the Report issued on Thursday March 26th 2020 contained data about the week ending on Saturday March 21st 2020. In the days leading up to the Report, financial companies will survey economists and run complicated mathematical models to forecast the upcoming Initial Jobless Claims figure. The results of surveyed experts is called the "consensus"; specific companies, experts, and websites will also provide their own forecasts. Different companies will release different consensuses. Usually they are pretty close (within 2-3k), but for last week's record-high Initial Jobless Claims the reported consensuses varied by up to 1M! In other words, there was essentially no consensus. The Unemployment Insurance Weekly Claims Report is released each Thursday morning at exactly 8:30 AM ET. (On Thanksgiving the Report is released on Wednesday instead.) Media representatives gather at the Frances Perkins Building in Washington DC and are admitted to the "lockup" at 8:00 AM ET. In order to be admitted to the lockup you have to be a credentialed member of a media organization that has signed the DOL lockup agreement. The lockup room is small so there is a limited number of spots. No phones are allowed. Reporters bring their laptops and connect to a local network; there is a master switch on the wall that prevents/enables Internet connectivity on this network. Once the doors are closed the Unemployment Insurance Weekly Claims Report is distributed, with a heading that announces it is "embargoed" (not to be released) prior to 8:30 AM. Reporters type up their analyses of the report, including extracting key figures like Initial Jobless Claims. They load their write-ups into their companies' software, which prepares to send it out as soon as Internet is enabled. At 8:30 AM the DOL representative in the room flips the wall switch and all of the laptops are connected to the Internet, releasing their write-ups to their companies and on to their companies' partners. Many of those media companies have externally accessible APIs for distributing news. Media aggregators and squawk services (like RanSquawk and TradeTheNews) subscribe to all of these different APIs and then redistribute the key economic figures from the Report to their own subscribers within one second after Internet is enabled in the DOL lockup. Some squawk services are text-based while others are audio-based. FinancialJuice.com provides a free audio squawk service; internally they have a paid subscription to a professional squawk service and they simply read out the latest headlines to their own listeners, subsidized by ads on the site. I've been using it for 4 months now and have been pretty happy. It usually lags behind the official release times by 1-2 seconds and occasionally they verbally flub the numbers or stutter and have to repeat, but you can't beat the price! Important - I’m not affiliated with FinancialJuice and I’m not advocating that you use them over any other squawk. If you use them and they misspeak a number and you lose all your money don’t blame me. If anybody has any other free alternatives please share them!
How the news affects forex markets
Institutional forex traders subscribe to these squawk services and use custom software to consume the emerging data programmatically and then automatically initiate trades based on the perceived change to the fundamentals that the figures represent. It's important to note that every institution will have "priced in" their own forecasted figures well in advance of an actual news release. Forecasts and consensuses all come out at different times in the days leading up to a news release, so by the time the news drops everybody is really only looking for an unexpected result. You can't really know what any given institution expects the value to be, but unless someone has inside information you can pretty much assume that the market has collectively priced in the experts' consensus. When the news comes out, institutions will trade based on the difference between the actual and their forecast. Sometimes the news reflects a real change to the fundamentals with an economic effect that will change the demand for a currency, like an interest rate decision. However, in the case of the Initial Jobless Claims figure, which is a backwards-looking metric, trading is really just self-fulfilling speculation that market participants will buy dollars when unemployment is low and sell dollars when unemployment is high. Generally speaking, news that reflects a real economic shift has a bigger effect than news that only matters to speculators. Massive and extremely fast news-based trades happen within tenths of a second on the ECNs on which institutional traders are participants. Over the next few seconds the resulting price changes trickle down to retail traders. Some economic news, like Non Farm Payroll Employment, has an effect that can last minutes to hours as "slow money" follows behind on the trend created by the "fast money". Other news, like Initial Jobless Claims, has a short impact that trails off within a couple minutes and is subsequently dwarfed by the usual pseudorandom movements in the market. The bigger the difference between actual and consensus, the bigger the effect on any given currency pair. Since economic news releases generally relate to a single currency, the biggest and most easily predicted effects are seen on pairs where one currency is directly effected and the other is not affected at all. Personally I trade USD/JPY because the time difference between the US and Japan ensures that no news will be coming out of Japan at the same time that economic news is being released in the US. Before deciding to trade any particular news release you should measure the historical correlation between the release (specifically, the difference between actual and consensus) and the resulting short-term change in the currency pair. Historical data for various news releases (along with historical consensus data) is readily available. You can pay to get it exported into Excel or whatever, or you can scroll through it for free on websites like TradingEconomics.com. Let's look at two examples: Initial Jobless Claims and Non Farm Payroll Employment (NFP). I collected historical consensuses and actuals for these releases from January 2018 through the present, measured the "surprise" difference for each, and then correlated that to short-term changes in USD/JPY at the time of release using 5 second candles. I omitted any releases that occurred simultaneously as another major release. For example, occasionally the monthly Initial Jobless Claims comes out at the exact same time as the monthly Balance of Trade figure, which is a more significant economic indicator and can be expected to dwarf the effect of the Unemployment Insurance Weekly Claims Report. USD/JPY correlation with Initial Jobless Claims (2018 - present) USD/JPY correlation with Non Farm Payrolls (2018 - present) The horizontal axes on these charts is the duration (in seconds) after the news release over which correlation was calculated. The vertical axis is the Pearson correlation coefficient: +1 means that the change in USD/JPY over that duration was perfectly linearly correlated to the "surprise" in the releases; -1 means that the change in USD/JPY was perfectly linearly correlated but in the opposite direction, and 0 means that there is no correlation at all. For Initial Jobless Claims you can see that for the first 30 seconds USD/JPY is strongly negatively correlated with the difference between consensus and actual jobless claims. That is, fewer-than-forecast jobless claims (fewer newly unemployed people than expected) strengthens the dollar and greater-than-forecast jobless claims (more newly unemployed people than expected) weakens the dollar. Correlation then trails off and changes to a moderate/weak positive correlation. I interpret this as algorithms "buying the dip" and vice versa, but I don't know for sure. From this chart it appears that you could profit by opening a trade for 15 seconds (duration with strongest correlation) that is long USD/JPY when Initial Jobless Claims is lower than the consensus and short USD/JPY when Initial Jobless Claims is higher than expected. The chart for Non Farm Payroll looks very different. Correlation is positive (higher-than-expected payrolls strengthen the dollar and lower-than-expected payrolls weaken the dollar) and peaks at around 45 seconds, then slowly decreases as time goes on. This implies that price changes due to NFP are quite significant relative to background noise and "stick" even as normal fluctuations pick back up. I wanted to show an example of what the USD/JPY S5 chart looks like when an "uncontested" (no other major simultaneously news release) Initial Jobless Claims and NFP drops, but unfortunately my broker's charts only go back a week. (I can pull historical data going back years through the API but to make it into a pretty chart would be a bit of work.) If anybody can get a 5-second chart of USD/JPY at March 19, 2020, UTC 12:30 and/or at February 7, 2020, UTC 13:30 let me know and I'll add it here.
So without too much effort we determined that (1) USD/JPY is strongly negatively correlated with the Initial Jobless Claims figure for the first 15 seconds after the release of the Unemployment Insurance Weekly Claims Report (when no other major news is being released) and also that (2) USD/JPY is strongly positively correlated with the Non Farms Payroll figure for the first 45 seconds after the release of the Employment Situation report. Before you can assume you can profit off the news you have to backtest and consider three important parameters. Entry speed: How quickly can you realistically enter the trade? The correlation performed above was measured from the exact moment the news was released, but realistically if you've got your finger on the trigger and your ear to the squawk it will take a few seconds to hit "Buy" or "Sell" and confirm. If 90% of the price move happens in the first second you're SOL. For back-testing purposes I assume a 5 second delay. In practice I use custom software that opens a trade with one click, and I can reliably enter a trade within 2-3 seconds after the news drops, using the FinancialJuice free squawk. Minimum surprise: Should you trade every release or can you do better by only trading those with a big enough "surprise" factor? Backtesting will tell you whether being more selective is better long-term or not. Hold time: The optimal time to hold the trade is not necessarily the same as the time of maximum correlation. That's a good starting point but it's not necessarily the best number. Backtesting each possible hold time will let you find the best one. The spread: When you're only holding a position open for 30 seconds, the spread will kill you. The correlations performed above used the midpoint price, but in reality you have to buy at the ask and sell at the bid. Brokers aren't stupid and the moment volume on the ECN jumps they will widen the spread for their retail customers. The only way to determine if the news-driven price movements reliably overcome the spread is to backtest. Stops: Personally I don't use stops, neither take-profit nor stop-loss, since I'm automatically closing the trade after a fixed (and very short) amount of time. Additionally, brokers have a minimum stop distance; the profits from scalping the news are so slim that even the nearest stops they allow will generally not get triggered. I backtested trading these two news releases (since 2018), using a 5 second entry delay, real historical spreads, and no stops, cycling through different "surprise" thresholds and hold times to find the combination that returns the highest net profit. It's important to maximize net profit, not expected value per trade, so you don't over-optimize and reduce the total number of trades taken to one single profitable trade. If you want to get fancy you can set up a custom metric that combines number of trades, expected value, and drawdown into a single score to be maximized. For the Initial Jobless Claims figure I found that the best combination is to hold trades open for 25 seconds (that is, open at 5 seconds elapsed and hold until 30 seconds elapsed) and only trade when the difference between consensus and actual is 7k or higher. That leads to 30 trades taken since 2018 and an expected return of... drumroll please... -0.0093 yen per unit per trade. Yep, that's a loss of approx. $8.63 per lot. Disappointing right? That's the spread and that's why you have to backtest. Even though the release of the Unemployment Insurance Weekly Claims Report has a strong correlation with movement in USD/JPY, it's simply not something that a retail trader can profit from. Let's turn to the NFP. There I found that the best combination is to hold trades open for 75 seconds (that is, open at 5 seconds elapsed and hold until 80 seconds elapsed) and trade every single NFP (no minimum "surprise" threshold). That leads to 20 trades taken since 2018 and an expected return of... drumroll please... +0.1306 yen per unit per trade. That's a profit of approx. $121.25 per lot. Not bad for 75 seconds of work! That's a +6% ROI at 50x leverage.
Make it real
If you want to do this for realsies, you need to run these numbers for all of the major economic news releases. Markit Manufacturing PMI, Factory Orders MoM, Trade Balance, PPI MoM, Export and Import Prices, Michigan Consumer Sentiment, Retail Sales MoM, Industrial Production MoM, you get the idea. You keep a list of all of the releases you want to trade, when they are released, and the ideal hold time and "surprise" threshold. A few minutes before the prescribed release time you open up your broker's software, turn on your squawk, maybe jot a few notes about consensuses and model forecasts, and get your finger on the button. At the moment you hear the release you open the trade in the correct direction, hold it (without looking at the chart!) for the required amount of time, then close it and go on with your day. Some benefits of trading this way: * Most major economic releases come out at either 8:30 AM ET or 10:00 AM ET, and then you're done for the day. * It's easily backtestable. You can look back at the numbers and see exactly what to expect your return to be. * It's fun! Packing your trading into 30 seconds and knowing that institutions are moving billions of dollars around as fast as they can based on the exact same news you just read is thrilling. * You can wow your friends by saying things like "The St. Louis Fed had some interesting remarks on consumer spending in the latest Beige Book." * No crayons involved. Some downsides: * It's tricky to be fast enough without writing custom software. Some broker software is very slow and requires multiple dialog boxes before a position is opened, which won't cut it. * The profits are very slim, you're not going to impress your instagram followers to join your expensive trade copying service with your 30-second twice-weekly trades. * Any friends you might wow with your boring-ass economic talking points are themselves the most boring people in the world. I hope you enjoyed this long as fuck post and you give trading economic news a try!
DIGITAL GOLD- A DISTINCTIVE INVESTMENT IN MODERN TIMES
https://preview.redd.it/0xnufktuh5941.png?width=593&format=png&auto=webp&s=f7a58fb22228ffe58de3c10dc29a1c9969e9e98f Presentation Increasingly more Innovation Day Is Developing, Numerous Leaps forward Achievements are made with the impact of the occasions, numerous advanced investments have begun to be resounded, yet now safe investments are as yet dependent on Gold, however do you realize that Gold is presently in the Digital adaptation? Presenting Digital Gold, Digital Gold is an Investment Achievement in Current Occasions. Its a well known fact if gold is utilized as an investment. As you most likely are aware, the cost of gold will build each year. Gold is additionally viewed as a promising long haul investment. To make your gold investment progressively productive, you can utilize the ERC20 Gold token discharged by Digital Gold. Token GOLD ERC20 will make it simple for you to spare, purchase, sell and even exchange gold investments digitally. For this situation, you don't have to stress over the decrease or even loss of the estimation of the assets. This is on the grounds that Gold token have an assurance of high security. Every gold token is connected to genuine gold with a sum that consistently coordinates the gold in the extra space. Every Gold Token ERC20 is equal to 1 gram of gold that has a purity of 99.99%. The measure of gold put away as a gold token can be effectively checked whenever. By executing a cryptocurrency framework, the acquisition of Gold token should be possible rapidly through Digital Gold authority site. When making any exchange, you won't be accused of any extra expenses. You can make whatever number cryptocurrency exchanges as could reasonably be expected by the measure of Gold token you have. You can even utilize it to direct business exchanges. Putting away gold as gold chips is in reality more productive than putting away it in distribution centers or banks. It isn't just a matter of comfort in the exchange yet additionally the issue of the report. The utilization of gold tokens will make you progressively productive and will appear to be down to earth. Explanations behind the significance of utilizing GOLD Token ERC20 There are numerous reasons why it is prescribed to utilize Digital Gold token. Positively, the explanation is extremely useful for you. After the audit. Look after protection Investing in gold with Digital Gold Token enables you to look after security. As you most likely are aware, when you need to purchase or trade Gold, you ought to be approached to give your genuine personality. Be that as it may, not for the Gold Token. Gold token proprietors just need the wallet address they have. High liquidity Having a (cryptocurrency) encourages exchanges, yet additionally makes it conceivable to purchase and sell tokens with enormous sums. Where the worth can be as per market costs. Property Assurance It is unquestionable that gold turns into an important asset, just as a gainful investment. Its worth can last a large number of years. Moreover, the buying influence level of gold likewise didn't change, so it is fitting whenever used to store riches. Be that as it may, poor market conditions can meddle with gold investing. In any case, the presence of a gold chip connected to physical gold can avert misfortunes because of poor market conditions. Gold tokens can be acquired, sold or even moved rapidly. In this way, your portfolio will be all the more encouraging. Protection Another explanation it is prescribed to invest in gold with the Digital Gold token is protection. Digital Gold ensures all Gold chip proprietors with full protection. Where Chubb Protection utilized protection originates from. It would be ideal if you note that Chubb Protection is truly outstanding and biggest insurance agencies. With protection, you don't have to pay more if something sudden happens later. All dangers will be borne by the protection administration. Digital Gold protection will give the absolute replacement esteem. You can invest securely, easily and discreetly. The outcomes are additionally unquestionably enticing. No hazard It is getting progressively fascinating to utilize gold tokens since gold stockpiling has no hazard. It is extraordinary on the off chance that you store gold autonomously which is helpless against robbery, misfortune and different risky dangers. By utilizing Digital Gold Tokens, you can make investments in gold easily and beneficially. Where would i be able to purchase and sell Digital (GOLD)? Digital Gold has just been rundown in a few trades, and Digital Gold itself can be traded or sold in the site of the accompanying: DIGITAL GOLD'S Authentic MARKETPLACE Digital Gold Marketplace Digital Gold's authentic marketplace is a trade that is spoken by Digital Gold on its official site. You can visit it by means of the connection beneath: Cryptex A programmed administration with which you can undoubtedly and rapidly trade digital forms of money for electronic monetary standards and back without enlisting. Purchasing and selling bitcoin and different digital forms of money unbounded and confinements. We work with money in 11 nations, bank cards, and electronic installments. Bitforex One of the main and most in vogue trades with a great many dealers from all locales of the world. BitForex is a profoundly respectable complete platform for exchanging and a genuine one-stop digital asset administration platform. Livecoin Livecoin is an advanced, safe Exchanging Platform for getting to cryptocurrency trade markets with straightforward interface and low exchanging expenses. For more information about the project visit: Website: https://gold.storage/ Whitepaper: https://gold.storage/wp.pdf ANN Thread: https://bitcointalk.org/index.php?topic=5161544 Telegram: https://t.me/digitalgoldcoin Medium: https://medium.com/@digitalgoldcoin Reddit: https://www.reddit.com/golderc20 Twitter: https://twitter.com/gold_erc20 Bitcointalk username: ryan619 Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2307679;sa=summary
Always concoct an idea for trading on the foreign Fibo Quantum Scalper Review exchange market. Do not expect to make a quick profit by using short cuts. Success in the market comes from taking time to develop a reasonable strategy not from having no plan at all.Avoid the urge to gamble with the Forex market. Know everything about your decision before finalizing a not trade over five percent of the money in your account. This gives you some breathing room. Even if you buy into a poor trade you will be able to stay in the market. Take some time away from watching the market because the longer your eyes are on it the more you are going to want to trade and impulse trading is never good. Stay conservative it is the best way to go about things. The more you know about the Forex market the easier it will be for you to make money. Keep in mind that youll need to keep learning to always be on top as things change. Keep up with your favourite foreign exchange sites and blogs to find out about new strategies tips and cuttingedge developments in the Forex world.The foreign exchange market for currency which is also known as Foreign Exchange is a money making opportunity that anyone can take advantage of. This article will give you a basic understanding of the foreign exchange market and how you earn income trading on Forex. Do not play follow the leader with your Foreign Exchange trading account. Your trading style may be far different than other traders so be careful to use their analysis as a guideline for trading. Cultivate your own analysis rather than simple echoing what other people do.Your foreign exchange investments should not exceed five percent of your portfolio. This makes it easier to deal with it if a trade goes bad. If you screw up a trade you can still recover. When you have been watching the Forex market for awhile you may want to trade big. However you should avoid temptation and stick to conservative trades. You can practice Foreign Exchange on a demo account without needing any automated software. You can just go to the Foreign Exchange website and look for an account.must cultivate a good attitude in order to trade successfully. Once you make the effort to learn the basics and methods of the market then you will be able to create a successful plan and will be better able to analyze the market as well.Hone your techniques by trading on mock accounts before engaging in real trading. Trading on a demo platform is the best form of preparation to get oneself ready to begin real serious trading.Get comfortable using stop loss orders in your trading strategy. Stop losses are like an insurance for your Forex trading account. You can lose a chunk of money if you dont have stop loss order so any unexpected moves in foreign exchange could hurt you. Using stop loss orders protects your investments. https://shockingtruereviews.com/fibo-quantum-scalper-review/
Established Strategies You Can Use In Forex Trading
Both down market and up market patterns are visible, but one is more dominant. You should aim to select the trades based on the trends. Adjust your position each time you open up a new trade, based on the charts you're studying. Traders often open in the same position and spend more than they should or not a sufficient amount. Vary your position depending on the trades above you if you want to be profitable in the market. Some currency pairs have what is called an inverse relationship with another currency pair. What this means is that when one pair is trending upwards, the other trends downward (and vice-versa). The classic example is that of the EUUSD vs. the USD/CHF. This comes about because the Swiss economy is closely tied with the rest of the European economy. Additionally, there is the common factor of the US dollar in both pairs. If you are just starting out in Forex and you are still hesitant about investing your own money, sign up for a demo account with a broker that will enable you to try out your Forex investment skills. Demo accounts allow you to trade with virtual money. It is a great way for you to practice without risking any real money. You should try Forex trading without the pressure of real money. By practicing live trading under real market conditions, you can get a feel for the Forex market without using actual currency. You can also get some excellent trading advice through online tutorials. Gather as much information as you can, and practice a lot of trading with your demo account, before you move on to trading with money. It may seem like it is you against the world sometimes when it comes to dealing with Forex trading. With the vast amount of information available online, it can be nearly overwhelming at first. This article will provide much helpful information for you to get started on the right path. Begin as a Forex trader by setting attainable goals and sticking with those goals. Establishing goals, and deadlines for meeting those goals, is extremely important when you're trading in Forex. Keep in mind that the timetable you create should have room for error. If this is your first-time trading, you will probably make mistakes. Additionally, calculate a realistic amount of time that you can spend trading, and make sure to factor in time spent researching. You should pay attention to the larger time frames above the one-hour chart. Technology can even allow you to track Forex down to 15-minute intervals. The thing is that fluctuations occur all the time and it's sometimes random luck what happens. You do not need stress in your life, stay with long cycles. Be sure that you always open up in a different position based on the market. There are Forex traders who always open using the same position. They often end up committing more cash than they intended and don't have enough money. Learn to adjust your trading accordingly for any chance of success. Learning about the currency pair you choose is important. It can take a long time to learn different pairs, so don't hold up your trading education by waiting until you learn every single pair. It's better to pick a pair in which you are interested, do your research, and understand how volatile the pair is. Follow and news reports and take a look at forecasting for your currency pair. As a beginner in Forex, you will need to determine what time frames you will prefer trading in. To make plans for getting in and out of trades quickly, rely on the 15-minute and hourly charts to plan your entry and exit points. A scalper, for example, might refer to the five- and ten-minute charts to complete trades within a matter of minutes. Utilize resources at hand, such as exchange market signals, to facilitate purchases or sell-outs. Forex Robots Software allows you to set alerts that sound once the market reaches a certain rate. Figure out your exit and entry points ahead of time to avoid losing time to decision-making. Many traders make careless decisions when they start making money based upon greed and excitement. Consequently, not having enough confidence can also cause you to lose money. Work hard to maintain control of your emotions and only act once you have all of the facts - never act based on your feelings. If you are new to the trading market, you should begin your account with a small initial deposit. This minimizes your losses if you were to lose your money. Instead of depositing more money, you should try to make gains through the money that you initially invested, and then place the money into further investments. Be sure that your account has a Stop-loss in place. Stop-losses are like free insurance for your trading. If you do not set up any type of Stop-loss order, and there happens to be a large move that was not expected, you can wind up losing quite a bit of money. Your capital can be preserved with Stop-loss orders.
Why you should never use your Liquidation Price as a Stop Loss on Bitcoin Futures
I made a detailed post on Medium about this: https://medium.com/@Austerity_Sucks/why-you-should-never-use-your-liquidation-price-as-a-stop-loss-on-bitcoin-futures-30655f280ddd#.kns7iew4k TL;DR Getting out of position pre-liquidation saves your maintenance margin. Always set a protective stop-loss right before you get liquidated! Here's the gist: Let’s say you’re long 1,000 contracts at 20x Fixed margin at price of $1,050 on OKCoin, $100,000 worth. Contracts at OKCoin are inverse and worth $100 a piece. Your liquidation price on this position then is $1,009.62, about $40 below your entry: Image 1 If you were using 20x, then the amount of margin you put down for this position would be 4.762 BTC at current prices (index price is $1,050): Image 2 This is the 5% “initial margin” mentioned earlier (4.762 is about $5,000, 5% of the $100,000 position of 1,000 contracts). But look at the profit/loss column when I enter a closing price of $1,010, which is JUST above our liquidation of $1,009.62. It is -3.77 BTC lost on the position. So by getting out of the position right before your margin call would have occurred, your 4.762 BTC is taking a -3.77 hit, but you still have almost 1 BTC left (about $1,000 or 1% of the position value). This is the “maintenance margin” we mentioned that the exchange takes from you upon liquidation. The value of getting out of your position before liquidation hits in this case is saving 1 BTC. So this is not trivial, you get to save 20% of your equity on the trade rather than paying the insurance fund/other traders! BitMEX, it can be argued, hits you with an even harsher penalty if you ride your position to liquidation rather than getting out right before your margin call price. Let’s go through a similar $100,000 position at full 100x leverage. This is obviously not advised and BitMEX will tell you also that most traders do not use this. But let’s see: Image 3 To make the 100,000 contract ($1 = 1 contract on BitMEX inverse btc contracts) position at $1,050 you need 1.1 BTC margin. This is a little more than 1%, because it also has to cover the exit fee on the position as well as potential funding. When you’re long your liquidation price is at a bit more than 0.5% margin, at $1,044.78 — this is a little more than $5 below your entry price: Image 4 So once the mark price on BitMEX reaches $1044.78 you lose the 1.1 BTC in margin, you’re liquidated, “rekt” as the kids say. You see none of that money ever again. However, if you were to sell out of the position at $1,045, just above the liquidation, your Profit/Loss on that is -0.456 BTC: Image 5 By getting out right before liquidation, your 1.1 BTC equity lost -0.456 BTC, and you still have 0.64 BTC left to play with. That’s a lot better than letting your position get liquidated so you have 0 left, right? In liquidation you’d lose the 0.64/1.1 — over 50% of your equity put down on the trade! The higher leverage you use, the worse the loss on liquidation will be as a % of your equity. Also, because BitMEX is 0.5% maintenance and OKCoin is 1%, the pain of the hit depends how geared you are...
100x on bitmex means you're losing bit over 50% equity (worse than okcoin), 10x means 5% of equity.
20x on okcoin means losing 20% of equity, 10x is 10% (worse than bitmex).
On FOREX and other legacy brokers you tend to get the maintenance margin left after your liquidation. But because these are counterparty contracts with social loss funds depending on traders to provide liquidity to each other, the maintenance margin needs to be used by the exchange for system risk management. Bitcoin futures traders have learned to deal with taking this hit without even realizing or caring that much. But be mindful of it if you want to save some extra margin
First off, let me state that I am not even close to a professional when it comes to trading. I got in a few months ago for passive income from copying 3.14fx and have come a long way since then, quadrupling my initial investment and losing half of it. I've watched traders such as cfdtrader, Lumyo, Robot, and crypto_chris lose several hundred percent after a fail from opening multiple positions. I got into 1broker to make money without monitoring it, but instead I learned a lot about trading and risk management, even profiting off several of my own trades. It's a valuable experience in itself even if you're not profiting and I wouldn't give it up for anything. If these losses are enough to make you quit, so be it. Investing comes with risks that some people can't handle. It's not free money. https://www.dailyfx.com/calendar is the economic calendar that I use while trading. High importance events can easily trigger a 80% loss or gain depending on the direction you choose. It's highly risky to trade when someone of great importance such as Draghi or Yellen are speaking. Even if you follow a general MAX 5% rule, you will still lose up to 16% of your account if somebody opens 4 of the same positions and they stop at 80%. Making back money is also tougher than losing it, as once you lose 16% of your account, 5% of your account is a lot less than before. Therefore, you have less capital per trade. Also, be careful when changing your copy amount. I often see copiers saying things like "Great work, I'm upping my copy amount" and "Increased copy amount from x to x". In my opinion, increasing a copy amount should only be done when your initial amount is already low. Losses on a higher copy amount may wipe out the gains on a smaller copy amount. (-50% loss with 0.1 btc = +100% gains with 0.05 btc) Always stick to a 5% max rule unless you're feeling risky. Then, there comes the gambling/greed phase that many new copiers often do. (Guilty of this myself). After extreme success, a copier may feel the need to upgrade their copy reward to maximize profit. Or after extreme failure, a copier may feel they need to upgrade their copy reward to make up for losses. All of these are mistakes. 1broker is not filled with market professionals. Most of us here are either self taught or complete novices. Professionals would not be sharing their trades for about $70-80 for each trade (at best). They won't be asking for copiers on other traders' profiles. They won't be using a Pikachu as their profile picture. They won't be using a broker that isn't heavily regulated and insured. They would be using their own capital to make millions off of trades. Remember, any newbie can easily accumulate winning trades by gambling with high leverage. As long as they have around $1300 as of now, they can easily create a profile that suggests that they are a professional, when in reality they are entering at random points and exiting when a position turns into profit, rather than using technical analysis and watching economic calendars. And even the best of traders will have their ups and downs. I've stuck with 3.14FX even when he reached -100% this month because he's had a great history on this site. I feel that he can make the money that he loses back. And even though he has doubled up on a position yesterday (not sure why, probably was extremely confident), it was a success. Can you really trust anyone? No way! Unlike regular trading, 1broker is more unregulated. Signing up requires no personal information so any user with malicious intent can build up a steady reputation and perform an exit scam (or have a massive failure) without any reparations. Robot has no link to any social media or anything in his profile. For all we know, he could own another account that has -100%, and he is depending on luck while opening multiple positions to accumulate followers. (I just used Robot as an example, my intent is not to accuse him of multiple accounts) Then there are potential exit scams (from a trader, not 1broker itself) that will drain a decent portion of your account. There's a reason why you have a choice to choose how many trades maximum you can copy per day. This hasn't happened yet, but it will definitely happen in the foreseeable future. Somebody will set up an order for 50 shorts and 50 longs and set the take profit and stop loss the opposite of each other. Then after closing, they'll withdraw their bitcoin never to be heard of again. When you put your trust in a trader, you should trust them to carefully monitor a trade. Unfortunately, there's currently no way to tell if your copied trader is online or not, so you'll never know if they're in a coma and won't be back for another 6 months. My suggestion is to either take profit when you think that the conditions are correct or just trust the trader. Nobody can see the future. If you think that you'll rather close the trade before the weekend, it's your choice. If you think upcoming news will destroy the trade, feel free to close early. However, be prepared for regret if it goes up, or a great feeling that you dodged a bullet if it goes down. It's all a part of trading. 1broker's copy system is seriously flawed at the moment. Of course, there's no easy way to fix it. Why would a great trader want to share one of their trades if they're not getting much out of it? This encourages opening multiple positions to maximize copy rewards, which can result in massive losses. Robot is one of the traders exploiting this. So how can you prevent massive losses? There's really no way. You're putting your trust in random people without an identity, who can easily be a scammer. When it comes to people like Robot, I put 1-2% of my funds because I know that he opens multiple positions. This is why I'm always sticking with 3.14FX, he established himself a long time ago and he knows what he is doing. Somebody who has been on the platform for over 3 years with several losses is preferable to an anonymous newcomer who just registered but appears to be good at trading. Also, the percentage on 1broker is misleading. You may think "Wow, I'm going to get an 500% of my initial investment if I copy Lumyo!" In reality, you should only be using 5% max of your capital per trade. If you copied him from the beginning (I started copying at around 90%), you should have only gained 25% rather than 500%. But still, 25% of your initial investment is huge.
My opinion on several traders
vits2015: If you watched vits2015 from the beginning, you would know that their style of trading is... off. 15 positions on UK100, all short, some of them at -30% when I first saw him as a successful trader. What does that tell me about him? He can open up to 6 positions on the same trade at once, and is willing to hold them as long as possible to get a profit. (Average holding time 8 days) gtfann: Even with recent losses, he still appears to be a decent trader. It seems that he upped his usual leverage due to the crowds of traders flocking to copy him though. Multiple positions with a lower leverage isn't really something that I like either, but I'm sticking with him for now until there's a drastic change. vaiono: He lets his losses play out and even though he has a decent track record,it's still risky to play with. Silver is extremely volatile and due to leverage, a small move in any direction can either be a huge loss or huge gain. Snortex: Pretty much a meme on 1broker. He acknowledges his trading style and warns his copiers. I like him as a person due to his warnings, but still wouldn't recommend copying him unless you can afford to lose a lot. Edit: After examination of his trades, I feel like he's not only gambling like his description suggests. His entries are planned out carefully (Although that has hurt him when there was a flash crash). You'll take several 80% losses but you may take several 400% gains. He seems to have a habit of chasing a trade, which can lead to multiple 80% losses. However, once the trend reverses, his profits go through the roof. When you're copying, copy for the long term! Of course, feel free to uncopy if you feel that the bottom is still far away. noIDea: He has had bad stretches in the past, but still makes his way back. I think he's a good trader and even though he opens multiple positions, he's one of the best at setting stop losses so the risk is not as high as others who open multiple trades. Gold_Gangsta: Name change from Crypto Chris for some reason? Be wary of multiple positions as the USDJPY fiasco shows. Seems to be doing fairly well with gold as of now. 1monk2: Multiple positions fairly often, even says that he's drunk in the description. This is gambling. knightlife999: The description definitely shows promise. There is no proof to those claims on the site, but I feel it's safe to allocate some of your funds toward copying him with his track record. HedgeCryFx Risk 5: Decent trader, pays attention to economic calendar as well. The only problem is that he lets losses play out to 80% boogi: I would be wary about the higher losses, but then again, there's a good track record. sergiomc: Seems to be decent at trading stocks. With an average holding time of 14 days and leverage of 10, you should be expecting to lose about ~3.92% of your gains to financing, which is not actually that much. Cool Hand Luke: Low leverage trading. If you were to copy him, I would recommend only using 1% or 2% of your account max per trade if you plan on copying others as well. He's a great trader for slow steady gains, but if you're looking to get rich fast or go broke trying, this is not the guy for you. eylemc: Quick trades with minimal profit and no losses so far. As of now, it may be too early to judge, but I think that he's somebody that might be worth copying. Edit: Seems to let losses play out to 80%. Be wary. 3.14fx: Back in the game, doing well with stocks and USDJPY recently. High leverage, but usually stops losses within a reasonable range. SunnyNet: Small gains, huge losses. Be wary as your first copied trade could easily be a -80%. SatoshiReport: Trading using a neural network, after looking deep into the trade history, I'm not so sure about it. Correct me if I am wrong, but the bot doesn't take into account important news and events. Edit: This bot has too many flaws to continue copying in my opinion. Even with the previous gains, it opens the same position as soon as one closes, negating the 33% stop loss AND forcing a loss due to the spread. The only thing that keeps it out of the negative is the rare 80% gains that you might find once in a while. CryptoMessiah: The image being shown on his twitter has weird numbers on it (USDJPY at 100-103 in the matter of minutes), I think it's a simulator so it isn't actually "proved". Also, asking people to copy for "free money" is misleading as anything can go wrong in the forex market, there is no guaranteed money. I copied with a minimum 0.001 btc and will update this post if the bot proves to be successful. Edit: Tons of losses trying to get the right direction and then huge wins. I would say it's ok, but you're better off with a human capitalizing on gains. The only advantage to this bot is 24/7 hour trading. kosanet: His description says it all. Be careful while copying, but don't be discouraged to place an amount you can afford to lose. He seems to have a great history of monitoring losses (positions never get below 20%) but it's still a new profile who clearly states that he's not a pro. May open multiple trades and trading with USDJPY a lot. His scalping strategy means that overnight fees won't be an issue. Edit: Now he's starting to be a little more risky with his trades as more copiers arrive. Be careful, he never reached liquidation at 80% yet but he could at any moment. google: A bit late to the party, but what can I say? I honestly can't believe he accumulated 190 copiers but he seems to have faded out quickly. Golgo13 is having a fun time on all of his trades KillerWhale: Extremely high risk with all of those multiple positions. Like google and robot, don't be fooled by performance recently and look through their whole account. People who saw the 220% recently may have missed when he was in -475% a few days ago. SoontobeWW3: Great trader in my opinion. However, I think emotion plays a role in his trading as every huge loss is often followed by more. APPoh: Seems to know what he's doing. However, there is a very short trading history and we're never sure. Positions can reach 50% without closing, so it's very possible that he might let losses play out to 80%. dingo: Not much to say. Good with 1 position at a time, and even with the 80% loss last month, still ended in profit. Be careful as he might sometimes not stop a position and instead wait for it to recover and a 80% loss is huge compared to his gains. Edit August 12: Will stop adding new traders now. Before copying someone, remember:
Check their trading history, ALL OF IT. You're entrusting them with your money, you should be 100% sure.
Wait until they've established themselves. Sure, you can be frustrated about potentially losing 200% profit, but it sure beats 700% losses.
I already expressed my views on Robot and 3.14FX above. Lumyo is currently inactive. Last tip: Don't uncopy people if you feel like they can make it back. If you choose to copy someone, you're in it for the long run. Now this may contradict some of my earlier statements, but if you have somebody that you believe in, don't uncopy them after a loss. Eventually, they will make their way back up and after you see their success again, you'll be tempted to copy again. Of course, if you are copying somebody who you have no faith in, feel free to drop them. Cutting your losses short is important to learn in trading.
I'm 23 and trying to solidify a FI plan, anyone so kind as to assist?
Hello FI! (throwaway account, sorry :( ) So, I'm a bit of an overachiever. Most people would consider me in excellent financial shape; I feel like I'm nowhere near where I want to be. The prospect of retiring at 60 with four weeks of vacation a year seems so bleak. I love travelling, learning. I'm a dual citizen in a european country and trilingual, though I've lived in the U.S. the majority of my life. I can think of so many things I would fill my time with if I could. Time is everything, and I dislike how much of it work sucks up. Right now, I live in a low-cost-of-living region making ~50k annually from employment in the IT field. I purchased a foreclosure and fixed it up, and have a roommate in covering about half of my base home living expenses (mortgage/insurance/electric/utilities). If figure I ever decide to move, I'll rent the house out. To be honest, I strongly dislike the entire region I live in, but it's cheap. I have a Bachelor's, but no student loans. I get my travel fix via an airline credit card. I put all of my expenses on it and pay it off every month. I get free tickets and fly where I feel when I can line up a place to stay (relatives or fans...was a notable name in a competitive gaming scene in the past so people've put me up when travelling). I decided to correct my spending about three months ago. I've been getting about 33% in savings a month since then with only minimal life changes. I'm going to try to push it to 50% next year if I can. This is after taxes/401k contributions/benefits, none of which I skimp on. (33% == ~$1,000 a month surplus.) I'm not really capable of going full Jason-style ERE, unfortunately. I really do enjoy my social life and am not willing to give that up- especially as I grew up as something of a geek and I'm kind of flourishing for the first time. But I am significantly cutting down my spending...not eating when I go out or having very little, for example, and no fast food ever. I put my employer match in to my 401k. I see people saying to max the 401k, but...I can't touch this until I'm 60, right? I'm not going to leave money on the table, but I don't see why I should put extra in to the 401k when I can probably invest it elsewhere better. Thing is, I don't know what to do with the next year's savings. I'm wary of the stock market; I don't trust that we're going to go back to the normal ~11% a year gains on average anytime soon. I could pay off my mortgage, but the interest is low enough that I could probably get better returns elsewhere. Right now I have:
$5k emergency fund.
$2k in a Forex account, and have been position trading under turtle trading-like rules, never risking more than 1% of my account value on a single trade (stop loss triggers at 1% loss). I've had 8 losing trades out of 10, but the 2 winning trades made me break even on the 8 losing. I don't know if this will work long term or not.
$3k in a stock account, spread over a few stocks I like.
My 401k, ~6k, put in a Fidelity 2055 target retirement mutual fund.
I owe <30k on my house at 5.25% interest. If I maintain the last three month's saving rate (without raising it to 50% like I hope), and pool my funds (not counting the 401k), I could pay off the house by the end of next year. So...I don't know where to go from here. If I make consistent returns on trading, maybe I'll dump more money in to trading forex/options, but at the moment I'm dead even. I'll see how that goes. I'm working with a realtor and investigating real estate right now- I'm also thinking of buying an investment property to rent out, with a loan. I hate taking on more debt, but the math works out. What do you guys think? Kill off the house debt? Or invest, and if so, where? I don't find stocks appealing for the next few years, but taking on debt for real estate makes me nervous. EDIT: Where do most of you generate passive income? Stock/ETF/bond portfolios or real estate, right? I'd like to imagine I could retire in this next decade, but that's probably not realistic as I would travel a lot in retirement...sigh
Always using a protective stop loss—a strategy designed to protect existing gains or thwart further losses by means of a stop-loss order or limit order—is an effective way to make sure that Trading Without a Stop Loss . You should have a stop-loss order for every forex day trade you make. A stop-loss is an offsetting order that gets you out of a trade if the price moves against you by an amount you specify. When you have a stop-loss order on your trades, you have taken a large portion of the risk out that investment. Welcome! Log into your account. your username. your password Trading without a stop loss doesn't burn accounts, closing trades with negative balances burns accounts. level 1. I always have a stop in place for forex and futures but it’s an insurance policy for huge counter moves and isn’t that close to the price action. I also move it in the trade direction as the price moves. In other words, the hedging strategies give you the chance to limit your losses without using a stop-loss strategy. The stop-losses are a critical tool used in Forex trading to limit losses if the trade doesn’t go as planned. You simply can’t be successful in the long run if you don’t limit your downside by using stop losses.
NO LOSS REBATE HUNTER ROBOT 16th JULY 2020 - BEST FOREX EA, NO LOSS FOREX TRADING, EARN REBATE IN FX
The Company assumes no responsibility or liability for your trading and investment results and you agree to hold the Company harmless for any such results or losses. Past results of any individual ... The next video is starting stop. ... Find out why Close. NO LOSS REBATE HUNTER ROBOT 16th JULY 2020 - BEST FOREX EA, NO LOSS FOREX TRADING, EARN REBATE IN FX ... You are hereby notified that ... Here I explain 3 ways you can mitigate risk without setting a stop loss. ... Trading Forex without a Stop Loss - Duration: 16:39. TraderNick 13,747 views. 16:39. Language: English Trading Without Stops and Why Stops Don't Work - Duration: ... Why I DO NOT Use A Stop Loss - So Darn Easy Forex™ - Duration: 12:28. So Darn Easy Forex University 23,872 views. Why Stop Losses Don't Work? Trading Forex without a Stop Loss - Duration: 16:39. TraderNick 13,005 views. 16:39. 5 FOREX PAIRS THAT WILL MAKE YOU RICH [TRADING HACK 2020] - Duration: 6:57.