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Hi i was wondering if anyone knows of any day traders in nz and what forex brokers they use as i have been looking for a trustworthy ECN broker for a couple of months now and when i find a decent one they inform me they are no longer accepting nz clients. not sure what to do.
Any forex day traders in Worcester/surrounding area?
New to the business. About 4 months of learning and practicing and now trading live. Would love to meet an experienced person that would like to shed knowledge on a youngster like myself(21 yr old). I'm currently a junior attending college in town, and have always loved business and market trends. But I know in this field you have to "pay your dues" literal or not. I'm hesitant to go and drop hundreds to be a member of a trading group and would rather meet someone with the knowledge and local enough to be able to meet up and learn the trade. If you're out there and wanna help a guy out learning the field, perhaps with some tips with strategies and whatnot, please comment below! I'd love to be a pupil and learn a thing or two. My schedule is busy, but I would put in the effort for you. Thanks for the look.
What’s the deal with these fake FX Ponzi schemes where they pose with rental cars and fake watches in order to portray the life of a millionaire ?
Just see so many saps sending this kind of crap across promising they will made x amount over night etc you would have to be a dip shit with two brain cells to fall for this crap seriously seems like every other Instagram account is a forex day trader weekend millionaire.
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).
I've watched quite a few youtube videos and started babypips for forex, I'm interested in doing crypto and some majors. I can't help but wonder I'm missing something, the videos I've watched portray things to be pretty straight forward...
Get trading platform and deposit money
Pick your currency
Add some moving average lines to your graphs
When lines meet in upward trend in oversold position then buy
When lines meet in downward trend and overbought then sell
I feel like I'm over simplifying it but it seems like most of the battle is reading a graph and noticing the trend. I was wondering how long a forex day trader will hold for on average? I see some people suggesting they dont work for more than a few hours a day.. Do you set auto limits or do you manually stop a trade later and call it a day? How does your day go?
Newbie forex day trader here. Assuming one does not put a stop loss and he does not exit the trade manually, then when does one exit the trade if the profit target is not hit in a long time? Does the trade terminate automatically when equity hits $0.00? Sorry for my bad English. Same question, different wording below for clarity sake. If you don't use a stop loss,when do you exit the trade if it doesn't go in your favor?Assuming you don't manually leave the trade yourself, do you stay in the trade until your equity hits $0.0 or you'll stay in the trade forever until your target price is reached?
Hi All - I'm looking for sites that show movement and related news on either currency pairs or singular currencies. In general, data to help understand possible movement as well as charts. For example FT.com is a great resource. I'm making a list to compare data for my daily prep work before my trades. I will share a comprehensive list. I am making a website that has many lists of all Forex-related data, tools, indicator sites, various review sites, etc. As someone who earns the great majority of my income as a forex day trader, I feel like Forex information is too fragmented and my hope is to create an expansive list of everything Forex. Thanks!!!!!!!!!! (edited text to reflect my post details not “jiving” with a commentator)
Okay so i'm posting this up to source some good quality information from anyone who can offer some good shit. I'm currently a full time forex day trader and have been for a while now and am wanting to dive into the stock market and make some extra profits while using forex as my bread and butter as I now have a lot more time to put towards other income streams as I believe I am ready to move onto a new venture and have decided to learn this before I start executing Now, I have done research online on stock trading but I have a few questions that you may hold answers to. Excuse my ignorance in advance pls
Any solid resources or material that can help me in learning?
Fundamentals or technicals?
What are some important metrics, information or news that you use to help pick a stock?
Do you have a set criteria that you use that also aids in picking a stock?
How do you decide where to enter a stock? Or do you just enter at market price?
I understand related to margin accs and live by risk management, but what do you all use or prefer; cash or margin acc?
Thank you everyone Edit: I checked the wiki before this post but though this post could make these few questions a bit clearer while I continuously research and learn :D
Forex Traders! They get so mad that you don’t join their “investment team”. The best are these “conventions” they pay out of pocket for pretending like they’re living like CEOs for a day. Show me a vacation you were able to fund, not the hotel the convention is being held at.
Full-Time Day Trader, What's a realistic daily account growth precentage to aim for?
Hello all I am a full-time Forex day trader and used to set daily targets for profits. However I'm trying to steer my focus from profits and focus more so on percentages. After a few devastating losses I have reached a point where I can make 10% as a daily return, however I am wondering if setting this as the standard has the potential to be quite dangerous as it could be considered to be unrealistic. What is a good and realistic gain to aim for daily? I have a £10k account and can step down the exposure if needs be. I'd love a second opinion on this... Many thanks and best of luck ladies and gents. [EDIT] What do you guys aim for? (This is assuming of course that you are also fulltime traders like myself)
CBOE Bitcoin Futures: Trading advice from a seasoned stock+options+forex trader
Disclaimer: This is only my opinion. Nobody knows what will happen in the future, but this is what I will be doing. TLDR: If you own Bitcoin already: don't sell. If you want to buy more, watch the market over the next few days (especially the next few hours) for good opportunities. I've been a professional (other people's money) stock, options, and FOREX day-trader for a few years, and have many more years of non-professional (my own money) experience. In about one hour (6PM Eastern Time), the Chicago Board Options Exchange will begin trading Bitcoin futures under the ticker XBT. A short explanation of futures trading: Traders bet on the future price on an asset, in this case Bitcoin. Instead of actually trading Bitcoin, they are trading contracts that give the right to buy or sell the asset at a certain price. Futures exist for many assets, including but not limited to Gold, Silver, Wheat, Corn, Soy, the S&P500, etc.... Read more on futures here.
What does this mean for Bitcoin?
The addition of this new security will make a big impact on Bitcoin trading. Bitcoin will see a huge increase in trading volume and, consequently, short-term volatility. Eventually, the addition of volume will cause the price to stabilize. However, the new traders will likely cause a frenzy of buying and selling that, for the near future, will cause huge spikes in both directions. Again, in the long-term, the price should stabilize from the additional liquidity, but the influx of traders will temporarily destabilize the market. Other than the price, the introduction of Bitcoin to mainstream traders will further support the growth of Bitcoin as a currency. I am very pro-Bitcoin long-term. Watch this video from Andreas Antonopoulos for his insight on the CBOE.
This is my opinion. I cannot predict the future with certainty, and there is a very good chance I will be wrong. Be smart with your trading to protect you when you're wrong. Today I sold about half of my Bitcoin at a profit after buying during yesterday's mini-correction. My plan is to hold the other half through the chaos. I am anticipating major price swings in both directions over the next few hours/days, so I intend to buy back the Bitcoin I sold if/when the price dips considerably. In the event that the price skyrockets, I still have half of my Bitcoin. In the event that the price tanks downwards, I can buy much more Bitcoin to bring my average Bitcoin price down significantly. If you already have Bitcoin, I suggest holding it tight. If you want to buy more, you may see some very good opportunities in the near future. Good luck! :) EDIT: Although futures trading started tonight, most traders will not engage in trading until tomorrow morning. Thanks for the gold!
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Surely a chart is a chart, right...... Yes I understand that sometimes price can spike chaotically on lower time frames due to news, but you can always try and avoid news. And you can day trade on low spread pairs. Surely if you have trading skills, shouldnt trading be the same on any timeframe?. If someone out there can be successful day trading, why cant you and me do it too? Lets also hear from successful forex day traders on this subreddit, raise your hand....
ForexEcho is a news aggregator website that delivers all the latest high impact forex news that moves markets. Our goal is to provide financial traders with news on key economic indicators from reputable and authoritative sources that are both timely and relevant, day in and day out.
I have read and watched many blog/youtube posts on lot sizes, leverage and risk management. And a general consensus is that nearly all of these traders/investors say to not risk more than 1-3% per trade. My question is, what is the point of brokers who offer huge leverage (up to 1000/1) if all these so called “pro” forex day traders only risk 1-3%? I can almost consistently make 10-12 pips a day (scalping or catching small hourly swings) and in theory shouldn't one leverage the shit out of your account and risk 10% or more if you are consistent? Perhaps a 3-5k trading account is simply not large enough for supplemental income from my 50/hrs week day job. When you factor in federal income tax and brokerage commissions, a few hundred dollars a week does not go very far. I hope this does not sound like a rant, please let me know your thoughts as I am exploring some outside the box leverage thinking.
Forex trading is a huge market that started in the 1970s. Trillions are traded in foreign exchange on a daily basis. Whether you are an experienced trader or an absolute beginner to online forex trading, finding the best forex broker and a profitable forex day trading strategy or system is complex. So learn the fundamentals before choosing the best path for you. Learn more from our Veteran Day Traders. Day Traders will teach you how to make better day trading decisions for forex trading, swing or emini trading and become a more profitable day trader. Day traders wanting to experiment with these trading strategies can use a demo account or trading simulator to get acquainted with the basics of counter trading trading. They can gain experience in a risk free setting. The chart below illustrates the use of the pivot point indicator to help identify potential turning points in the market trend. What are the best indicators. There are many ... Die Forex & CFD Märkte bieten dem Trader die Möglichkeit, ... Daytrader und generieren täglich das höchste Handelsvolumen. Day Trader zu werden ist ein intensiver Prozess, und sobald Sie sich auf diesen einlassen, werden Sie viel Zeit damit verbringen, Fehler zu machen, zu korrigieren und Ihre Strategien erneut zu testen. Ihre Disziplin, Ihre Stresstoleranz und Ihr Vertrauen in Ihre ... Forex (Foreign Exchange Market) ist ein Finanzmarktplatz auf dem W hrungen gehandelt werden. Es ist vergleichbar mit dem Aktienhandel. Der Forex-Handel ist der Markt mit der h chsten Liquidit t. Diese Handelsplattform wird von multinationalen Kooperationen, gro en Banken, Regierungen und W hrungsh ndlern getragen. Der Forex-Markt gilt als einer mit dem h chsten Potential, da er im weitesten ... Day traders. A forex day trader is one who closes all trade positions at the end of each trading day and makes sure there are no open positions overnight. Day traders function with an extensive knowledge and experience of what the forex entails. This category of forex traders makes use of a variety of methods to make proper trading decisions that lead to success. Some trade securities with the ... In fact, many traders who earn a living through trading the forex market are day traders. Day trading has many advantages. The most glaring advantage of day trading is its efficiency. Scalping tends to be less efficient compared to day trading with regards to trading cost. Scalpers tend to earn a few pips here and there multiple times in a day. However, a 1 or 2 pip trading cost on each trade ... Do you want to learn how to master the secrets of famous day traders? Take our free forex trading course! Top 28 most successful day traders. Let’s look at the most famous day traders! 1. Ross Cameron. Ross Cameron is a successful day trader and in 2016 he reportedly made $222,244.91, though he doesn’t boast about it and recognises that it could easily have been more or less. He is highly ... Forex daytraden is een snelle manier van handelen. Grote schommelingen in valuta koersen bieden interessante kansen voor aspirant daytraders. Lees in dit artikel welke tactiek beginnende forex daytraders hanteren, geillustreerd met een praktijkvoorbeeld. In the high leverage game of retail forex day trading, there are certain practices that can result in a complete loss of capital.There are five common mistakes that day traders can make in an ...
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