- Anyone here have a successful and durable experience in forex

Forex is for fags in the UK.

It's not possible as a retail trader, especially in the US (due to regulations). You're probably interested in forex because required minimums are so low. Most services are bucket shops that prey on people like you.

Some aren't though. Best case scenario, you find a service that routes your trades directly to an ECN. Even then, you're fucked because institutions use hft strategies that exploit proprietary order-book data streams.

>>980355
The reason you can't find a forum with success testimonials for retail forex trading is because no one has succeeded for years. That game is literally rigged.

Don't do it. Lost 40k playing that crap. When you think you know what your doing, you don't. Even after years of studying and playing with a demo account. Best advice is don't waste your time. Second best advice, pick a direction and wait.

>>980512
>Lost 40k playing that crap.

in demo account or real ?

>>980533
Real of course.

>>980539
I think you're lying, you have not lost 40k.
Or you won 40k in forex and you just want to discourage me !

>>980542
Where would lying get me in this situation by discouraging someone from the same fate?

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I know a piece of shit like you OP

they quit the only fast food job they were capable of getting after like only 3 months and a few hundred dollars in savings thinking they would making it big forex trading and look at them now.

they are fucking nobodies.

save ten thousand dollars up, then come back

>>980355
ITT: a combination of the following:

>losers who thought forex was a get rich quick scheme and ended up shitting their accounts down the drain and are STILL butthurt about it

AND/OR

>people blatantly talking out of their asses because they don't know what the hell is going on

>>980355
Anyone here getting tired of this faggot posting this question every single fucking day? The least you could do is fix your fucking grammar op.

>>980376
this

LMAX has some promise - though you're still forced to cross the spread as a retail punter

interactive brokers is also perhaps worth considering

and FX futures

aside from that it is mostly a den of thieves - the reason most people lose is because you're playing a less than zero sum game and you're doing so with extra leverage and dubious counter parties

retail traders engaging in short term trading tend to lose in all asset classes, they just get fucked extra quickly in the FX market

fact is you're unlikely to find an edge and most of the information aimed at retail traders is pure pseudoscience - you'll find forums full of people trying all sorts of fancy looking technical analysis, blaming things like 'psychology' or 'money management' for their lack of success - the real reason is they've got no edge and haven't got a clue what they're doing

at least if you get a post grad level of knowledge in statistics, econometrics, signal processing etc.. you might have a shot at developing a profitable strategy. Everyone else just seems to take a statistics made easy process because mathematics is hard for most people and they want an easy to use framework - the fact that technical analysis is easy to pick up and can be used subjectively just feeds into this - people then feel confident that there is some rational behind their decisions and start trading which is why 'brokers' love to promote it, give you free charting software etc.. when their entire business model revolves around not connecting you with other counterparties but simply taking the other side of your trades and eventually draining your account

>>981416
We should add some variation of this post to the sticky.

>>981397
I never put money into FX, because I couldn't find a brokerage where i'd stand a chance at profit.

>>981416
It's the 10th time OP makes this fucking thread, i wonder how long until e gets b&
Anyway, no you are a clueless retard. I've been doing this since 2012, succesfully and from the retail side. Here's how it works.

You don't need a degree and the only math you need is at best some statistics 101. This is the only way to make money in fx markets. You folks want to listen, fine, otherwise feel free to feed me your liquidity. By the way, what you were talking about before is called statistical arbitrage, and the fact that you do not know the difference between arbitrage and trading says it all. Ignorant people like you should not be allowed to go around and act like they know stuff. It is a good and decent thing to stfu if you don't know what are you talking about

Anyway, back to OP. What do you need is a trend following systems+a quantitative model that allows you to define a trend and a swing with some degree of accuracy. Nothing too fancy, standard indicators will do the trick, provided you test it on a big enough sample with no overfitting. Then you need some basic understanding of macros and what does the market is expecting of them. Trade on the long term, swing and position traders ar the one banking the $$$. Learn candlestick patterns, only thing that is not completely retarded about TA. Understand long tail distributions and why going with the trend makes blowing up an account incredibly hard (unless you are not retarded).
Average learning process takes 1yr/1yr and half. Nobody is going to tell you stuff for free on the internet, nobody is giving away their strats, and /biz/ is the wrong place to do so. Stay away from paid courses.
And no, nothing wrong with sticking with a few regulated market makers (they offer negative balance protection and micro accounts), just read the fucking reviews on forexpeacearmy. Demo for at least 6 months once you have a proper strategy.

>>981509
>muh bad broker stealing muh money
No, don't blame brokers, blame your stupidity

>>981574
>I've been doing this since 2012, succesfully

- In 2012, what's your capital in your forex account ?
- In december 2015, what's your capital in your forex account ?

>>981574
what broker(s) do you recommend? Do they offer an API? What are their min account balances? I'll happily eat my words if you've got one with true ECN access, a good API, and low minimums.

>>981574
>By the way, what you were talking about before is called statistical arbitrage, and the fact that you do not know the difference between arbitrage and trading says it all. Ignorant people like you should not be allowed to go around and act like they know stuff. It is a good and decent thing to stfu if you don't know what are you talking about


I didn't mention stat arb once... perhaps it is you who doesn't know what he is talking about

little hint for you - mean reverting strategies aren't the only use for statistics

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>>980355

im the guy from the other thread that works for an fx broker in sydney. doing ok this week.

If you're looking to learn, go to www.babypips.com and go through the free school tab. You'll learn allot.

>>982495

thats exactly what i did. takes 2-3 weeks to do the whole website and its invaluable information

>>982518
>invaluable information

kek

it is just regurgitating the same old stuff that is printed in numerous books and on numerous websites aimed at retail traders

>>982354
- In begin, what's your capital in your forex account ?
- today (3 december 2015), what's your capital in your forex account ?

>>982354
it really enjoy finally see a guy who happens to earn large sums of money on the forex market but I hope you will not lose all your gains after 6 months or 1 year, as many guys .

Can you summarize your technique ?

>>982354

If you keep this up, you're going to leave your job, right?

>>980355
Go through all this material. Its a piece of piss and if you follow it and get really good at the bits that you enjoy you WILL make money. http://theinnercircletrader.com/Tutorials.htm

>>980542
He has nothing to gain about lying about losing 40k. I've lost roughly 5k trading and I can tell you that when you're daytrading any market it's extremely difficult to just breakeven and most of the time it seems almost impossible to make any kind of profit daytrading at all.

>>982928
>I've lost roughly 5k trading

on what market ? forex ?

>>982928

Discretionary or systematic?

If you lost a good chunk of change and you didn't trade systematically, then you deserved to lose everything you invested.

You can make good money by utilizing a sound trading system backed by both technical and fundamental analysis algorithms. The hard part is being gifted in math, multiple programming languages, finance, and spending years perfecting and back-testing your algorithms.

Discretionary trading is a losers game. Also, if you do go ahead and start studying algorithmic trading, then you will always come across these blow-hard fucks spouting out their efficient market bullshit. Don't pay them any attention, because they probably don't even know what statistical arbitrage is or anything like that.

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>"trading" forex

literally, if there is an efficient market on the planet, it's forex

>>983492
This. The only market movers in forex are large institutions that use quantitative techniques.

>>981395

I'll start by saying I'm not op.

I do have a bit over $10k saved, and I'm working a job at home that I don't plan to quit until I find something better.

How can I start to use the money I've saved? A large portion was invested until a few months ago but I sold with the idea of doing a better more informed start.

>>983492
it isn't *that* efficeint

granted the institutions making money from it though are either engaged in high frequency market making or trend following

the trend followers tend to have a very small edge and are taking positions in multiple currencies simultaneously - it isn't so much attempting to predict individual movements as applying their model and taking advantage of the fact there does appear to be a small inefficiency

on the other hands retail traders pulling up charts, whacking a bunch of colored lines on them and gazing at them subjectively in the belief they give them some sort of glimpse into the future are just kidding themselves

>>983529
>and I'm working a job at home

what kind of job ?
what is your salary ?.

>>984507
Not that dude, but I work from home and make 70k. I'm a programmer. I could do any number of jobs from home like this though, like being an independent contractor. I could also do consulting work, but that would most likely require me to go out probably half of the week at minimum. A lot of companies like to see people in their office if they're paying them, while others only care about results, so consulting I'd end up with less control over where I work.

>>982834

yea, its not babypips itself that is invaluable. its the information it presents.

>>982901

in the beginning my account balance was $25,000. on DEC 3 i was at $66,000 but as of today DEC 7 i have $39,280. These amounts are in AUD, which is my countries currency.

>>982917

my technique is trading parabolic SAR + bollinger bands on 5m candles to find good entry points. I generally trade economic data also - i.e., im quite bearish on the australian economy at the moment, so i would go short on AUD/USD -- but in the last week the AUD/USD went up big, so i lost about 30% of my account. This was due to USD weakening in the face of EUR on the friday session due to ECB.

>>982918

i will not quit my job. quitting forex after 6-12 months is actually a good idea. the law of averages dictates you will get fucked anyway. its a good way to turn $1000 into $100,000 but its also a very good way to turn $100,000,000 into $50,000,000 in a few days.

>>982928

I agree - i was trading soundly and had made $31k on $25k deposit - and then i lost $16k in 10 minutes.

>>983529

don't trade FX unless you are quite happy to kiss every last cent of that money good bye in the quest to make more money.

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>>987420
>in the beginning my account balance was $25,000. on DEC 3 i was at $66,000 but as of today DEC 7 i have $39,280. These amounts are in AUD, which is my countries currency.

> i was trading soundly and had made $31k on $25k deposit - and then i lost $16k in 10 minutes.

>don't trade FX unless you are quite happy to kiss every last cent of that money good bye in the quest to make more money.

surprise surprise, another shitter saying to stay out of forex because they're total garbage at it.

>>987544

ey bro i am still up 56% in a 2 month period. not bad at all imo, and im very amateur

>>987420
what do you mean that you work for an fx broker?

do you work for one and do retail fx too?

>>987714

i work for one and trade fx with another.

remember, there is no such thing as insider trading in FX.

>>987698
oh fair enough. what kind of leverage are you trading with and and how long are you keeping positions open to make and lose 5 figures in a few months?

TOP FUCKING KEK. 99% OF YOU ARE FUCKING MORONS WHO WILL GET ASSBLASTED

STAY THE FUCK AWAY FROM FOREX. IT IS COMPLICATED.

Do you know what the capital account is? Do you have a good understanding of the macroeconomic growth drivers of a country? Do you know the net positioning of institutions and the government in that country's bond market? Can you predict how these variables will change in the coming years?

Great! Now you need to know that for TWO countries and keep in mind that external global events can completely fuck up your trade.

Seriously, only like 2 in 300 people on this board are capable of making money from forex in the long term, and one of the two is also really lucky.

I'll tell you a foolproof method to make a couple of hundred dollars in one day at forex.

Most forex brokers have a sign up bonus of $100. It requires you to deposit more money and place a trade. So to make money with forex, sign up to heaps of accounts, follow the rules for the sign up bonus and then withdraw your money plus the bonus.

>>987917

What's funny is that this is probably the best method in this thread.

>>987716
>i work for one

it would be really interesting if you have access to the statistics of your broker:
for example :
- What percentage of losing customers after 4 years of trading
- What is the percentage of winning customers after 4 years of trading
- How much money have earned the top 10 customers?

>>988034

We have the 90 90 90 rule for individual traders. More than 90% of traders lose more than 90% of their account balance in 90 days or less.

Corporate trading teams are much more successful.

I can't breach confidentiality and talk about peoples money.

>>988639
What about the 10% that haven't lost money in the first 90 days? I'm up 36% this year, am i gon make it?

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>>987544
>$16k in 10 minutes

>>987917

they wouldn't let you withdraw the money. Even if you made considerable profits they will not let you withdraw them. They rig everything they can against you, and if all else fails, they simply don't allow you to withdraw your profits. That's why you should withdraw any money you make as soon as possible.

>>989109

*even if you made considerable profits legitimately.

Read the forex edge, its about how brokers rig everything and screw over their clients and strategies to get around it - that last part should be taken with a grain of salt. Google forex dark lord.

If you're interested in trading, disregard all forms of technical analysis except market profile and research and analyse rather then actually trade. Look for trends and when you do actually trade you should have done lots of research, analysis, learning and practice. The time you spend doing that should dwarf any time you spend actually executing trades. Practice accounts are for learning the platform only and you should only practice what you are going to do with live money, which is wait for a real opportunity to have an edge and trade very very rarely

>>989118

and just to make it clear I'm not just talking about the learning phase. You should always be putting a lot of work in before you execute a trade. It can take months or years before you find an opportunity to trade

>>982931
yes I lost it trading forex

>>989109
I've done it. They let me withdraw the bonus too.

Let's say that price is at 75. What would be easier; price dropping to 50 or price rising to 100?

What if price were at 80, instead? What about 95?

How far is price likely to deviate from its mean?

>>987544
>surprise surprise, another shitter saying to stay out of forex because they're total garbage at it.
Odd that someone so good at it would be here telling others to waste their money on something they presumably don't know enough about.

>>987917
this should work for any that aren't complete shady

it is quote popular to do it with sports betting firms and financial spread betting firms - it is called 'matched betting' - typically people will palace a bet then hedge it by laying the same bet on a betting exchange making it almost 'risk free', you take a slight hit due to commission + crrosing the spread but then make money from the free bet/bonus

open multiple accounts and use multiple IDs - friends and family addresses (ensure to use a VPN and different IPs for each account) and if you put the time in you could make a couple of grand a month

>he trades anything lower than daily charts
>he trades and analyses less than 28 pairs
>he uses technical indicators on his charts
>he panics when he is 30 or even 20 pips down

I've heard a forex trader had 320k dollars in his account but he found it changed into 12k when he got up. Can such thing really happen? If can, why did he fall asleep during trading?

Sorry Not 12k but 1.2k

>>989689
What do any of these things mean?

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>>989697

such a thing can happen in less than 1 minute.

>>989526

there is no straightforward probability in forex. its chaos

>>987917

i'll tell you a much better forex trading method. sign up for demo accounts with a bunch of brokers. try and find one that has a price feed that lags behind the live price by even 50ms.

Once you find it, set up the live price on a currency pair on one monitor, and that brokers price on another monitor. Say the price is $1.00, and the price lag is 1 minute (completely unheard of, you're looking at 40-50 milliseconds most likely, and i'll outline why below), and the chart is 5 minute candles. If the price goes from $1.0000 to $1.0100 (100 pips), the 5 minute candle on the live price will move up 60 seconds before the brokers update their price. That means you can see, 100% guarantee, that the future price of that currency pair will increase by 100 pips.

so, you buy $100,000 (1 lot) of currency for $1.00, on a $10,000 forex account leveraged 10:1. the broker price updates to $1.01 and you sell, making (100,000 x $0.01, or) $1000. because you are monitoring the price feeds, there is zero risk. this is similar to matched betting.

The catch is though - you effectively made the broker buy you something worth $1.01 for $1.00. In this situation, your broker actually lost $1000, because they didn't offload the risk correctly. So if you do this with $10,000 leveraged 50:1, you would make $5,000 (broker would lose $5,000) on your $10,000 account - or $10,000 leveraged 100:1 which is standard account leverage.

If you engage in these tactics carefully, you can make a shitload of money. its quite easy to set up an automated trading bot that looks at both price feeds and trades on the live price if a broker price ever lags.
this is not financial advice.

>>990709
INCREDIBLE
I wonder why traders don't suffer from the stress to death

>>981416

I don't understand. I signed up for forex and made some money and lost some. In the end i just withdrew the last 40percent to buy coke I think but I never had issues. I also never gained or lost more than 500 bucks but who profits from my bad trading?

I joined and then some broker from NY called and said he was my broker blah blah blah, my account has been at 0 dollars for a while now so I don't see how im losing?

>>989689
>he trades anything lower than daily charts
I'm a fan of H4, but I agree that anything lower becomes obscuring.
>he trades and analyses less than 28 pairs
Yes.
>he uses technical indicators on his charts
Those bollingers don't band themselves.
>he panics when he is 30 or even 20 pips down
I'm a full cent down but I don't give two fucks.

>>991267
You never put all of your money in forex. Maybe 20-30% max.

The guy that lost 320k overnight probably has around 20 million split between stocks bonds and hookers.

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Be 2009, CNBC touting Forex gives everyone $25 to play with -- punk kid says what can I do with $25? I turn it into $900 that week and pay 3400 pips of spread in the process -- everyone happy but the kid.

Only two methods I've ever seen that had any chance of short term profits in Forex. The news method, where some dude put a tight stoploss and a huge take profit upon major news releases, and the general martingale strategy which eventually bankrupts you in the long run.

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>>980355

Ahh... A hard days work playing dota today.

Well, better go see a hooker before getting smashed with friends and doing it again tomorrow.

Forex is one hell of a drug /biz/. Don't do it.

>>993890
>not having shorts on aud/usd from before it went below parity