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I've just quit my job to become a self employed technical

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Thread replies: 29
Thread images: 3

I've just quit my job to become a self employed technical analysis based Forex day trader, with 50k starting capital.

Ask me anything.
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Poor bait
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Why Forex?
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what is a imichoku cloud
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>>1761662
Because I have a profitable track record here and the liquidity and the fact that I can trader whenever I want.
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>>1761668
if you've only got 50k capital you've not got need for much liquidity and nor do you have access to most of the liquidity in the FX market given that it is a segregated market run by institutions
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>>1761668
What's your track record look like? I'd like a picture of it not just you describing something that I can't see.

Liquidity shouldn't be an issue for you since you have such a small amount of capital relative to other investors within the forex market.

Minimum transaction size that can be dealt on either platform of the forex interbank market tends to be $1M in the base currency with the average one-ticket transaction size being closer to $5M USD. Another market has a minimum tick size of $10M with average trades happening between $50M and $100M (literally just clients clearing up loose change off their books).
That should give you some idea as to the scope of this particular market.

Just for reference, daily market turnover within the foreign currency exchange markets is over $4-trillion. You'll be swing trading whether or not you acknowledge that as fact.

Best of luck.
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After Trump takes away food stamps you're going to starve to death you leech
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>>1761659

im a complete noob in the world of finance and stock exchange. is there such a thing as low risk trading where I have a higher than 60% probability of not losing money?

How much time would I need to invest each day to make about $100 per day using this low risk trading method?

Can you point me to some tutorials to learn the ins and outs of forex?
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>>1762114
>learn the ins and outs of forex
http://babypips.com/school
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>>1762368
LOL no
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>>1761659
What's your average holding period?
What kind of setups do you look for?
Do you trade an automatic system or discretionary?
Do you like to trade certain pairs better than others? Why?
Do you trade any other markets?
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>>1761659
k. keep us posted

get a trip so we know how rich you have become in a few months
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>>1762374
it's good enough to get a basic understanding. it'll probably take op a few major losses before he realizes that he's not going to make overnight billions changing money.
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>>1761659
What do you plan to do after you lose all your money?

Spoiler: You're going to lose all your money
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>>1761659
How do you plan to compete with smart people running entire building floors filled with computers and graphics cards
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>>1761659
Would you recommend buy and hold with currency pairs. Read babypips.com. how do u get your feet wet, make a little and build up? Thnc
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>>1761659
You ever heard of Rob Booker? He's seems full of shit.
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>>1761659
How do I do what you do?
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File: 1358027836695.png (108KB, 800x800px) Image search: [iqdb] [SauceNao] [Google]
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these are my absolute fav kind of threads
keep it up all
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File: forexautismo.jpg (33KB, 400x400px) Image search: [iqdb] [SauceNao] [Google]
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>>1761659
did you lose all your money yet?
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Some questions for OP:
1) Why would one choose Forex when it is a negative sum game instead of positive sum like stocks
2) Why would one choose Forex if it is efficient as hell and basically gambling to make brokers rich via spreads and fees?
3) Why choose Forex when you can make more money by investing in long term index funds without all the hassle of active trading?
4) What is your edge (you can tell, since market is too big for you to lose edge if you tell on /biz/
5) If you are a real Forex trader and not an emotional gambler, then you probably have rule set in stone on what to buy, when in what amounts, and when to sell. Why not just program a bot to do trading for you based on these rules and do something else in the meantime? Unless of course you are trading on emotions and not hard set logic.
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>>1764844
what is a negative sum game?
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>>1764851
It is when the overall average outcome for all participants is below 0!

Forex is a negative sum game because of the fees and spreads from brokers.
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>>1765244
That is, as always only when you are bad. 400% a month is done easily as scalper.
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>>1765285
400% what the fuck retard do you even believe your own bullshit
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>>1762539
basic understanding of 'stuff retail trades believe' sure...

basic understanding of the FX market - nope...
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>>1765285
>400% a month is done easily as scalper.

lmaooooooooo
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>>1765893
basic understanding as in "what is a currency pair". unfortunately it doesn't explain why the average person probably shouldn't be buying and/or selling them.
Thread posts: 29
Thread images: 3


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