how and where do I learn to scalp the forex market? there's

>>1403114
Have you tried /biz/?

I heard people there are geniuses who have advanced understandings of business matters, such as the advanced technique of limiting the flow of chicken tendies to manchildren in order to drive demand and create an addicting monopoly thats hard to get out of.

>>1403129
You doubt the power tendies give? The energy makes you the HFT you need to be

>>1403129
>advanced understandings of business matters
I can only speak for myself, but /biz/ is where I learned that cryptocurrencies are basically risk-free, and "shorting" a stock means "holding it for a short period of time".

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you sound like my dumbass friend that lives with his parents and dropped out of a fast food job after like 4 shifts because it was "too hard"

took his 500 bucks he made and tried to play forex and lost all his money because he thought he was going to get rich super quick

first, you get the capital to make it happen
then find out what you are doing
until then keep dreaming

>>1403129
All i can say is this forum is the best business forum in the entire world as it caters to different age groups with varying levels of capital.. For example:

*Kneepads for the clueless 18 year old without capital

*Cryptos and penny stocks for the 18 year olds with a small amount of capital who wanna get rich quick

*Stocks for the well heeled gentlemen gamblers

*Online Surveys for the poo in loos

*youtubes adsence for all the wannabe pewdiepies

and the list goes on!
Truly there is no other business forum out there that embodies raw Free Markets at all levels. /biz/ Is truly the God among finance boards

>>1403114
>he wants to compete against computers and proprietary software from his mom's basement

What's the bare minimum I need to learn to get going? I know what the Forex pairs are, basically what types of orders there are. Learning software is the only issue I'd guess. I'm trying to understand Interactive Broker's software, but it's kind of a pain in the neck. What do?

Also, to OP, I've heard that you might want to start with this program:
http://candlecharts.com/fxinsiders/early/index_FINAL.htm

>>1403213
Don't even try, man. It's not worth it. You'll lose all your money. Either save your money, invest in an education, or try out small scale trading on Robinhooc and go from there.

>>1403226
>not having fun and doing risky things in your life for the fun of it
enjoy your boring life.

>>1403226
I'm not going to risk all my money blindly. I just want to know roughly how to do this before I delve into it in more detail.

>>1403233
It's not risky, it's wasting your money. My best advice is stop being an ignorant cuck and become interested in realistic ventures. Like >>1403178 said, you would be competing against people and technology you will never understand.

>>1403242
>not doing it for fun
>not saving a little of your disposable income to gamble it
I'm not going to mortgage my home to bet it on the forex market.

come on bro.

>>1403243
You're still not getting it dude. If you want to >gamble your income, go to a casino or find something better to trade/invest with. Forex is the last place to put your minuscule amount of money in.

>>1403245
>missing the part where I mention is disposable savings I can waste
why do think I'm asking about scalping if I wanted a safer way?

>>1403246
Great argument, faggot. You deserve to lose your money. Please post in the future about how fun it is to lose in Forex trading. You are retarded.

>>1403248
>you can't learn from your mistakes
what is experience then faggot?

>>1403250

How are you going to learn from competing with algos? Are you retarded?

>>1403253
so I can't learn to beat a videogame AI?
I am doing it for fun retard.

>>1403253
Last I heard successful Forex traders do exist. So it must be possible, or plausible even.

>>1403254
>comparing videogame AI to algos

Unless you can execute trades within miliseconds, then no, you will not stand a chance.

>>1403258

They do exist, however very few if any daytrade, and even if you're always losing profit becaue algos close out before you always. Also, in order to make any substantial profits you have to leverage or invest a high amount which makes it even more riskier.

>>1403260
So?

there are dumb gooks and fat burgers paying hundreds of dollars to play some shitty mobile garbage, why I can't waste some bucks on it?

>>1403262
I heard you can trade after 5 minutes or even longer periods of time.

>>1403263

Why would you? Go play the casino or something instead.

Yes, if you are going for say 5-6 pips of profit then sure. Enjoy your 5pip profit on a <$50k investment

>>1403263
How old, uneducated, and poor are you?

>>1403114
>Start your own forex exchange.
>Charge fees to use your exchange.
>You're literally scalping every transaction.
You only need a few dozen million in seed money.

>>1403267
>>1403268
why are u mad?

I just told you is like a videogame.
A cassino is a dumb RNG BS that doesn't depend on your skill.

>>1403270

So go bet on sports.

>>1403273
I'm bored of videogames and I want something new and better.

>>1403114
>forex
bucket shop scam, stay far away

>>1403270
I'm genuinely interested in how you could be so fucking stupid. I just find it absolutely amazing how ignorant people like you can actually be. The overwhelming majority of this thread is telling you that there are much better ways to use your money in a profitable way, while also retain the fun of "gambling it" or "learning about the system".

Go trade cryptos, or stocks on an internet brokerage website. Trading on Forex isn't going to interest you. You won't be able to even understand how strategies to profit on Forex even work. It's not an advantageous use of time or money.

How long have these algos been a problem? Are they present for futures as well?

>>1403280
Algorithmic trading isn't a problem.

>>1403284
Problem for us though, I guess? Since when have they made it difficult then?

>>1403278
you seem unaware I have been watching some youtube videos and learning about forex seems interesting enough.

gambling is based on luck and doesn't have the interesting appeal of being based on my skills.

why should I gamble when I can do something that looks like a videogame?

>strategies
I'm just learning, but they don't seem complex shit like college math.

>>1403280

Algos trade everywhere.

>>1403284

It's a massive problem.

>>1403300
How? Because you can't have a simple barrier to the market? Create a competitive algorithm or gtfo. Simple.

>>1403300
is algorithmic trading limited to forex?

Just started reading a book about stock trading strategies and indicators... just to run into this shit.

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- Anyone here have a successful and durable experience in forex trading ?
- What's techniques did you use ?
- With how much money did you begin ?
- Gives me advice for a beginner like me, please.

I am really sad when i read specialized forums in forex, why?
Because all the trading journal I read ends the same way :
They end up losing all their gains and have their account to 0 dollars, after 6 months or 1 year.

I need testimonials from people who really live forex successfully since several years.
http://forums.babypips.com/newbie-island/70214-truth-about-forex-you-cant-become-rich.html


I think this method is the best to learn forex or index cfd:

Depositing tiny amount less than € 200 and try to make it grow until 1000, once in 1000 reached 900 withdraw.
With the remaining € 100, try to grow them again to € 1,000, remove 900 ... etc.
Do it 10 times successfully
Instead of dropping € 50,000, losing after six months, redeposit € 20,000 and lose again after one week.

Warning : this is only for winner in forex market.

>>1403114

why would you want to do that?

>>1403114
Most people lose everything on Forex, just trade shares

Why don't you try instruments that move "slower" pace, like stocks, before even moving into Forex? If you can't earn positive profits CONSISTENTLY via instruments such as stocks, how do u think u can possibly do that in Forex, which moves way faster?

If u are lazy to read good books like Hedgehogging, well they have a table which states that the probability of profiting from a intraday trade is like ~50%, same as flipping coin; but in the meantime your broker is having 100% profits scalping u.

Many of the so called "profitable" trades out there (esp in forums) are just confirmation biased posts.. most of them are just pure luck based trades where the trader makes positive trades in SHORT term. In long term, you don't hear stuff from them. Except from fellas like Buffett where he makes like 20% CAGR for 50 years. Did he do it in Forex??

Do you normally hear professional portfolio managers boast they are gonna trade Forex so that you will have a over 9000% returns in no time? Think about it. Don't listen to "No risk, no rewards" BS.. taking higher risks have diminishing returns. And wait till u lose 100% of your funds and u pat yourself on that!

>>1403114

Forex isn't for beginners.

Unlike most instruments its purpose is to facilitate an exchange that won't be reversed. Think of a tourist that exchanges their currency to whatever currency is used in the country they're visiting or a corporation repatriating money from a foreign subsidiary. Neither of them are buying or selling currencies in hopes that the exchange rate moves in their favor so they can reverse their positions and make a profit. Forex is riddled with these type of transactions. Compare that to stocks were everyone is profit motivated. You buy a stock in expectation that you will be able to eventually sell it for more than you paid. This fundamental difference has an affect on how price moves.

Stocks are also easier to understand. If a company has growing revenue, has manageable debt, and is making a consistent profit it's share price will go up. It's that simple. Now how do you use fundamentals to determine the price of a currency pair? Here things aren't so straight forward.

(cont)

>>1403114

(cont)

Another major difference is how the market works on a technical level. Stocks are listed on central exchanges. The price you see quoted on your trading terminal is exactly the same price that everyone else sees (ignoring latency for this example). When a trade is executed everyone will see it and the exact volume will get shown to everyone. Everyone sees the same information no matter whether they are an individual or multi billion dollar institution. Outside of futures contracts, which only make up a small percentage of total FX volume, Forex trades are done over the counter. This means that price may vary depending on which liquidity providers you're trading with. Granted that today almost all banks somewhere down the line are connected which make their bids and offers fall in line the price discrepancy still exists even though it's small. As for volume there's simply no way to know outside of guesswork. Are spreads higher than average? Is price moving abruptly without many ticks? That's all you really have to gauge FX liquidity.

As for your scalping strategy it's something that's best left for HFTs. In my opinion the risk reward simply isn't worth it. Trend trading is were the most, and easy, money is made. If you trade of a borderline with a 20 pip stop, with that stop including your commission, and your typical trend last say a week that banks you 400 pips that's a risk reward of 1:20. Let's make those numbers even nicer, let's assume you're a terrible trader who only manages to catch one successful trade out of twenty. That's a loss percentage of 95%. You lost 380 pips and made 400 netting you 20 pips. I'll let you run the number yourself and see if your scalping strategy can let you come out ahead with a 95% loss rate.

Lastly those people making millions in one hour are trading with hundreds of millions to billions. Having a lot of money makes making more money easier.

>>1403332

In order to compete with algos you need to have a similar algo and you also need to trade as close as possible to the exchange.

No, I can't have a warehouse right next to the exchange and have 0.0001 latency to the server.

>>1403345

It's not, but it's much easier for an algo to profit from forex markets because you don't need very much in terms of change to make money.

>>1403114
If you want to scalp Forex you need to be able to accept small gains (1 pip to 3 pips) and have a broker that doesn't rape you on trading fees.

You likely will be able to get minimal amounts of money doing so. You also will need to sit and watch the terminal at the same time for Hours on end.