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- - Forex
( https://www.aspkin.com/forums/general-money-chat/104712-forex.html)
aspkin | 01-29-2017 09:26 AM | Forex Who's down for some forex trading?
I opened up a practice trading account about a week ago.. so far I find that I"m very inpatient and that isn't good when trading.
I'm going to partner with a buddy of mine who is doing 2-4% returns daily and see how far we can go with Forex.
Hmm... I wonder how interesting it would be to post my results. :heh: |
ChezaChez | 01-29-2017 09:54 AM | Re: Forex I Trade, forex indices and commodities, lets hope you avoid the pit falls that come to all trades.... good Luck |
Re: Forex Always good to see results bigboss - here's hoping you have better success than my buddy that went hardcore into it...and lost a bundle :( Our friendship kind of went apart when he would be asking me for loan and I had to keep saying no because the security wasn't there and I don't want to loan money to friends. |
JamesNorth101 | 01-29-2017 01:10 PM | Re: Forex Best thing I ever learned with any type of trading was to let losses go and not try to chase them. People can end up in a whole load of mess otherwise
Forex is a relatively slow moving market and unless your trading something like forex options its not too much of an issue as you are limited to how much you can loose
Having a stop-loss order is very important I have found just so if things go very wrong very fast your limited in how much you can loose. Things can go very wrong in the time it takes to make a cup of tea sometimes! |
Re: Forex I've been looking into stocks in general over the last few months and have compiled a lot of articles to read through to get a good idea of what it's all about.
I've gotten mixed feedback having spoken to close friends and family who invest in stocks and shares - some are successful, others aren't. I think you'll get the same advice, some telling you to go for it, others telling you otherwise as they've heard horror stories.
But one thing I know for sure is, there are a lot of people who are very successful at it, and I think the reason is simple - they make smart decisions, as oppose to gambling blindly with their investment. |
aspkin | 01-30-2017 01:52 PM | Re: Forex So far shorting the GBP against USD is a winning play.
Up nearly 5k in just a day.. wow! |
JamesNorth101 | 01-30-2017 01:55 PM | Re: Forex Is that in practice money or real funds?
Practice trades don't always reflect the real markets trades. It does always take into account the real liquidity in the market. The larger the liquidity the smaller the discrepancy |
oompaloompa | 01-30-2017 03:42 PM | Re: Forex Quote:
Originally Posted by aspkin
(Post 827337)
So far shorting the GBP against USD is a winning play.
Up nearly 5k in just a day.. wow! | looking at it now, was this an intraday move? - what £80 a point? it has not moved much, 60 pips? you must have put quite a bit of cash down on that one, but watch out not to hold it too long as you are on the wrong side of that trend, GBP has been rising last couple of weeks, gonna go further.....think it will go up to 130....may well fall later in the year....
agree with the others, let go of loses, and you only need to win slightly more than lose to make money....
2-4% ? hehe maybe just after brexit!!!! mmm, well needs gearing to get that percentage, most currencies do not move more than half percent a day.....but gearing works both ways........eg, not in your favour too!! |
AlexB | 01-30-2017 03:44 PM | Re: Forex Started on Plus500 with £20 free bonus, got bored and left for couple months and came back to £300+!
- Didn't cash out and lost it all. |
Klemantina | 01-30-2017 09:57 PM | Re: Forex Started in 2014, after a lot of ups and downs I finally returned all my losses and made a decent profit. It's a risky business so be careful. Any moment a black swan can wipe out your entire account. It happened to my friends with the 2014 Switzerland interest rates and in 2016 oct 7 "flash crash". |
Purpose | 01-30-2017 11:25 PM | Re: Forex 10 years ago I traded stocks and I didn't know any better about penny stocks so I lost a lot. I've grown and learned a lot since then. I rather invest money on businesses that makes guaranteed money than stocks or forex. |
Ebayorbust | 01-31-2017 02:56 AM | Re: Forex Quote:
Originally Posted by aspkin
(Post 827337)
So far shorting the GBP against USD is a winning play.
Up nearly 5k in just a day.. wow! | Sounds similar to my Blackjack experience in Vegas, lol. |
aspkin | 02-01-2017 03:06 AM | Re: Forex Quote:
Originally Posted by oompaloompa
(Post 827365)
looking at it now, was this an intraday move? - what £80 a point? it has not moved much, 60 pips? you must have put quite a bit of cash down on that one, but watch out not to hold it too long as you are on the wrong side of that trend, GBP has been rising last couple of weeks, gonna go further.....think it will go up to 130....may well fall later in the year....
agree with the others, let go of loses, and you only need to win slightly more than lose to make money....
2-4% ? hehe maybe just after brexit!!!! mmm, well needs gearing to get that percentage, most currencies do not move more than half percent a day.....but gearing works both ways........eg, not in your favour too!! | Practice account while I wait on funds to clear. It came with a 100k.
Now I'm on my live account and so far so good. :) |
oompaloompa | 02-01-2017 02:30 PM | Re: Forex shall I tell you what would be a great business, possibly even a forum section.....
copying an experienced traders trades, preferably in real time or at least soon after....with caviat that it can go right or wrong way, and you are just copying best opinion of trader....I reckon noobs who do not know what to think, would like an educated guess to copy....I know I would! I am scared of my own shadow when trading.... |
JamesNorth101 | 02-01-2017 06:46 PM | Re: Forex Sounds a bit like etoro.com |
Re: Forex It would result in what some would call market manipulation which is frowned apon. As is a practice referred to as 'pump and dump'. |
oompaloompa | 02-02-2017 07:28 AM | Re: Forex Quote:
Originally Posted by JamesNorth101
(Post 827741)
Sounds a bit like etoro.com | eek no, those services are too big, causes saturation and too many followers, needs to be smaller scale copying IMO... |
aspkin | 02-02-2017 09:37 AM | Re: Forex Quote:
Originally Posted by oompaloompa
(Post 827716)
shall I tell you what would be a great business, possibly even a forum section.....
copying an experienced traders trades, preferably in real time or at least soon after....with caviat that it can go right or wrong way, and you are just copying best opinion of trader....I reckon noobs who do not know what to think, would like an educated guess to copy....I know I would! I am scared of my own shadow when trading.... | That would be interesting... live trading?
I have a friend that does 2% gains pretty much everyday.. if there was a way to make his trades live I would love to set that up.
You can't really stream that... hmm. |
aspkin | 02-09-2017 05:41 AM | Re: Forex The one thing I'm terrible at is listening to other people's ideas of where the markets are headed. The other day with Forex I listened as other people suggested the market would go UP... nope.. apparently nobody knows where it's going and I shouldn't listen.
I learned I'm a technical trader.. not a news trader.
I'm back to even with my forex account. |
aspkin | 03-16-2017 08:21 AM | Re: Forex Alright, Forex has been a failed experiment. :)
I find that it's time consuming, expensive to trade ($200 per trade) and it's direction is so random that it's difficult to trade.
I would not recommend unless you have no other projects you're working on and you have plenty of time to learn about trading strategies.
Vanguard Index Funds here I come! |
jakobrockz | 03-26-2017 01:27 AM | Re: Forex Quote:
Originally Posted by aspkin
(Post 836116)
Alright, Forex has been a failed experiment. :)
I find that it's time consuming, expensive to trade ($200 per trade) and it's direction is so random that it's difficult to trade.
I would not recommend unless you have no other projects you're working on and you have plenty of time to learn about trading strategies.
Vanguard Index Funds here I come! | which index funds are you currently invested in? |
Drebin70 | 04-03-2017 03:46 AM | Re: Forex Quote:
Originally Posted by aspkin
(Post 836116)
Alright, Forex has been a failed experiment. :)
I find that it's time consuming, expensive to trade ($200 per trade) and it's direction is so random that it's difficult to trade.
I would not recommend unless you have no other projects you're working on and you have plenty of time to learn about trading strategies.
Vanguard Index Funds here I come! |
Whose charging you that to trade?
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