Done for the night, who ever was interested in the chat session Monday I will see ya there! I wince every time I go to the ATM to take money out of my U. So I read everything I could about forex, the systems, psychology of it and more. But on a yearly basis I make the higher end of 6 figures. I could make much more if I cared to. Also if your a complete noob read through the course on Babypips. Word of advice use a demo account all major brokers give out demo accounts for freewhile you are learning how to trade.

index - Forex

After a few months switch to live once you get the hang of it. Which Forex broker did you go with? And how can we be sure you aren't here just to drum up business for X forex broker? Many people who get into forex get burned quickly and then complain that stop-losses were ignored and money making trades would return errors. How can we be sure we aren't getting scammed by the one we go with? Scams as this guy admits to: Most of what I read of that makes perfect sense.

When you make a forex trade, the company that "makes" the deal for you HAS to take the opposite position of you by nature. Forex is a zero sum game, for every winner there is a loser.

If you can figure out which of your clients routinely lose, you'll learn to keep the opposite position from their trades. If a client is constantly earning money, you'll turn around a split second after his trade and take the same position as him with the larger institution you buy money from.

The forex brokerage is not a bank, so it does not hold large quantities of currency nor does it make its money by being on the opposite end of every trade. From here they can make a margin call more likely on undercapitalized accounts only and just keep all of the investors money. I use FXCM as my broker. I wouldn't say FXCM is the best but no trading desk, MT4, and OK spreads hasn't worried me too much to move to another one. Generally I like to go with "Buy low, sell high.

Basically in Forex you can't buy something and hold it. Because you're buying in pairs. You lose it all. So most people only bet a very small percentage of what they have. What you mean is "no dealing desk", and as long as you're not on a micro account, you should be fine. FXCM's micro account shenanigans aka price manipulation make it a very bad place to learn to trade. To anybody intrigued by forex after seeing this thread: Does anyone else find it extremely hilarious that others are asking for advice on getting into forex trading with a reddit that has the headline: It generally takes 5 years worth of experience of constant trading for someone to become a decent trader.

But it can still be fun hobby trading. I personally like trading forex and think its the best job I could ever have. I have colleagues who make much much more but I prefer not to. I stand corrected and apologize for the error on my part. I was told by another redditor friend that you were the same person, but that does not excuse my inattention to the different user name.

I will go ahead and delete the earlier posts so you don't get sullied further. Again, my sincere apologies. Navy during the period beforehand. It's entirely possible this was the quickest stable job he got, and he learned a ton from the bullshit he was pushing and spends the time on phone calls trying to get inexperienced investors to get on board surfing forex exchange data like we surf reddit.

I am not saying I know better, or that I am even right. I am just saying that it's possible. Your employee salary is not the only yardstick of earning money. How can you reconcile that your profit may indeed be based on pure luck versus actual skill?

How long have you been trading? In my opinion forex takes ALOT of skills I could spends hours analyzing the charts to pick just one trade. Can you elaborate on this? Overly simplified non-speculator use: They could use the Forex markets to lock-in an exchange rate.

Have you checked out www. You can create a trading team and share all your trading information. You are wrong about question 1. While your trading actions are not helpful to an individual person or company, your actions do make the market more efficient. That means your are helping the economists. Contributes to the efficient market hypothesis. But at the end of the day, trends take time to develop. Daily movements are psychological sentiment and luck IMHO. I'm also a Forex trader.

Have done some trading with FXCM. Vowed to never let something like that happen again.

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So far it hasn't. My questions are as follows:. Thanks for your responses! I've looked at the AT interface a bit but don't have the necessary bankroll yet. Glad to hear you didn't get cleared out. That "sometimes" should be "always" if you don't want to have this happen to you again. I would never dream of trading without stops. Not to mention I wouldn't be day trading or swing trading, or whatever anyway.

Being a professional poker player is less risky than FX trading and that 50k probably just went to the broker and another client of the broker. Of course you really didn't loose anything other than points in the servers of the broker.

They have your cash to do whatever they want with until you cash out. Those online poker sites make a lot of money as long as there are customers who are in the system and don't take their money out. Alternatively, one could trade on a large ECN or a reputable spot FX aggregated exchange with tons of liquidity sources like CAX. The company could have all the liquidity in the world but if it is offering unrealistic and unregulated margins that means big losses really quick if the company doesn't play their cards right.

There is a reason the SEC limits margins and such on stocks and bonds, because No matter how you dice it the FX market isn't realistic for small time investors on these services that buy up half the Google adspace on every site dedicated to the financial sector and it is also the reason the SEC issues a warning to people who are thinking about entering the FX market. The company, what company? The ECN doesn't stick its neck out when it gives you leverage, they do have automated margin calls these days.

I don't think spot FX is for retailers anyways, specifically TA goons. The amount of leverage some of the bucket shops hand out is ridiculous, I trade on an institutional platform, While I am not questioning the validity of your post, but is this not true of stock trading as well? I wouldn't call stock trading an idiotic action, but I could draw just as many parallels between it and online poker sites.

I have not fully grok'd the concept of the spread yet and how the broker makes money on that, so I could be talking out my ass. Stocks are listed products that are traded on an exchange. Here, your broker merely executes your order and the exchange matches it with other market participants.

When you're trading retail spot FX, your broker is actually the counterparty to your trade, because there is no exchange. In this regard, the broker is actually a dealing desk or market maker. Generally, these dealing desks FXCM, OANDA, etc do not charge commissions, because they're always the ones that do business with you on the bid or ask side.

They aren't required to hedge your order using futures or by offsetting the position in the interbank market, which means, they can technically bet against you on every trade you make, earning the spread and the amount of money you lose on the trade.

Stocks have real value which is an ownership of a corporation. You can turn a dollar into a physical certificate of stock in which you have rights as an owner of the company.

It's value is derived by the market, yes, but the ultimate seller of the stock is the company in which you purchased the stock, so your money indirectly went to the company which then used the revenue from the sale of the stock to hopefully increase the value of the company and thus your 'share' of the company.

With FX trading you are trading in a sphere setup by a single company that is working against you and at the end of the day you have nothing of physical value to show for it. Unless you purchased the stock in an IPO, your money goes directly to another investor, not the company. The main reason companies care about the value of their stock is because of the voting rights attached to the stock.

If it declines enough, shareholders get pissed and management gets sacked. Don't forget to mention that companies care about stock value. I don't see it that way, a single broker sets the prices but at the same time they don't, the market does.

You can buy a single currency and hold it for months if you think that country is going to do well. While the trade will settle up daily, if you just don't log in, it would in theory be the same thing. You can easily get physical value from it, make good trades, profit it, then cash out. There are scam brokers, but most of the big brokers are completely legit and people won't have any issues with their trades or cashing out.

I thought Powerball 7 was a dystopian fiction film directed by Norman Jewison with a screenplay by William Harrison. What type of reviews are you reading on that anyway? I am not an astute businessman. In fact, the hardest part of running my business is running the business.

I prefer programming and interface design, which is my passion. I've learned a heck of a lot along the way about the ins and outs of business, but software will always be my area of expertise. A bong rip here and there never killed anyone.

In fact, some of the most successful businessmen of all time have done enough drugs to kill a whale. I don't actually believe that your weed consumption is correlated with your professionalism or pragmatism, but clorklime's comment was funny as fuck.

So an UpVote to both of you! I know some brilliant people who smoke weed. Your the reason why the herb is illegal, and why its frowned upon in society. Liquidity is lower, but still sufficient after NY Close and is boosted when Tokyo opens. Deutschebank's retail FX division starts at I traded retail fx for a firm for a few years and have personally been to both DBFX's and FXCM's operation.

I've been in very similar situations to the OP. Or maybe he just wanted to see if he has demo traded enough to sound like a strategies to binary options trading platform utrader currency trader. I think your right. I'm a director in a company that have a trading side of the business. If he is losing 50k overnight on a currency movement, forex trader en ligne must be trading with BIG figures.

My guys would never use a service like FXCM to conduct our trading. My viral marketing senses are tingling! I wondered about that too, especially with fxcm. My roomate answered a job "ad" with fxcm on monster. He had to download the trail trading platform. Great way to hook in new traders. I love these "Schemes"! Day Trading, Forex, RE Flipping, MLM All of them a based on a single fact: At the very least: Ever notice how you rarely hear about the flame-outs?

Am I to believe - everyone makes money? It can't be so - it's a zero sum game - for someone to make money, another needs to lose it.

Have you ever met a successful day trader? : investing

So this is why you have all these "cheerleaders" trying to get fresh meat interested. Like in CoD4 for example, it was nice and great during the weeks stock market prediction for the week the release since everyone was on a level playing field.

The relative skill of your average player is true. Fast forward to Christmas time when tons of other people say that they want it for Christmas.

Be it kid, teenager, adult etc. There are more players in the game who are total noobs. I learned more about economics from this video game analogy then most of the other posts here Can you please explain credit default swaps with a Halo 3 analogy?

It could also be impacted how easy it is to stick a credit default grenade to the target. It is possible for a target to be stuck with many, many such credit default grenades.

The thrower buyer may stick the target with as many grenades as he wishes. Upon "detonation" of the credit default grenade ie, when the target gets fragged by alternative methodsall those near to the target suffer massive damage as well. If they also have credit default grenades attached to them, they will be detonated as well and a vicious cycle of chaos ensues.

The government in this case, the dedicated host server can choose to allow instant respawning bailouts with all the weapons and items the target was carrying at the expense of everyone else in the game in the case that the target is too l33t to fail. You should really write a blog about how the whole economy, small businesses, or legal pyramid schemes or affiliate marketing stuff is all analogous to an online videogame. You could even end up making some sort of simple money making scheme that uses a videogame interface to work within.

You might even help thousands make money for themselves by turning some sort of economic activity into online games that trick you into doing WORK and gives u positive reinforcement and operant conditioning. You need a game that lets you play with paypal but it would actualy be using paypal in real life, or helps you find deals on ebay and then sell them back for a profit or something There are plenty of websites with games you can play with points that add up and can be traded for cash, but many of those are also zero sum where you are almost making bets off each other, but u need a way to do something like Gold farming but legaly, where u harvest resources online and sell them in real world, i dunno, something with value.

Maybe even brain power from collective conciousness of like a Human Botnet. Day trading and forex is like COD4?! I fucking rule at COD! Quick, where do i put my money?!

Where's the start button? Beware the downward spiral into premature account detonation. I trade equities for a living but forex is pretty foreign to me.

Do you do this for a living or just on the side? I used to be a professional trader but found it too risky to have it as my main source of income forex guru strategy v 3 download I had a family which I plan to eventually.

Forex is a wild ride. I had months were I would make my friends yearly salaries, and months where I lost up to 3x as you did. For me, gold market price today indian rupees per gram was client money so it reddit forex trader impact me nearly as much.

I do it for a living. I would imagine trading make money with link shorteners with other peoples money would suck - it's hard trying to explain to people how you lost all their investments in one night and for them to trust that you'll make it back the next. Can you be successful in FOREX taking it slow? I dont know if anyone gives a Shit but I WAS a FX dealer at a major shop back in the late 90's that DID regularly take the other side of trades in FX for about 10 years.

My mom has been doing this for a while and has been slowly but surely making enough money that she can almost live off it.

Would you suggest she quit working seeing as she is still an amateur? It seems risky to me and no - I don't know what market she's trading in exactly. She should keep her day job, life is great when your new to forex and you suddenly start making alot of money. But I can't stress how bad this is.

The market will eventually start to play against her luck - when shes traded for more than 3 years and feels fully comfortable then I suggest she quits. I want to see if I can make something of it. How do you suggest I highschool stockmarket course If I can manage to increase my play money perhaps I'll try it with real money. Read what I said above. You took the best first step by using a demo account, most people make the mistake of diving straight into a live account.

Don't get discouraged if you loose alot of money at first, and pray that you don't go on a winning streak. Completed Market Order On that trade you only would have made 56 cents. This is just so I learn the mechanics of the whole thing. But perhaps you have more insight into this. What strafefire said is right. You would want your demo account to be something that you would be realistically willing to invest with your own real money. I talked to the livechat people and they told me to check out http: If you do want to go at it, I recommend trying out multiple platforms for different companies to see which one you like the best.

Throughout college I was always fascinated by triangular arbitrage. How did you get into it? Where are you working? How long would you say it took you to learn, and also are there any classes you'd suggest taking in college that you'd think might provide advantage.

Why would you trade these instruments anyway? Not being sarcastic, I just don't know anything outside of stocks and bonds. In for long haul; investing off fundamental analysis, macro trends, top down sector trends. Kind of a loaded word.

Trader is more appropriate. Speculation is pure betting, while trading does have some technique to it. The line is very gray at times, however. I used to work for FXCM. How do you like it? I was the developer of DailyFX and a bunch of their other sites. Have you read the book Random Walk Down Wallstreet? If you have, tell me what you think about his argument? If not, what is your position on the idea that the market is completely random?

The random walk hypothesis does not say the market is "completely random," just that any one move cannot be known in advance. Completely different statistical concepts. I played around with it a little, and likely though some network of indirect intermediaries, took your few hundred -- but that was enough for me.

Too much like gambling. I played poker for a couple of years. It was fun, but I decided to quit. There is plenty of proof that making money in online poker is possible if you are good.

I used to frequent the twoplustwo forums. Is there some online forex forum where I get some proof that there are people who trade forex for a living and are making decent dollars? Sorry but you should consider proving your claims by faxing your annual tax return or something to a mod so that we could see a star on this AMA. As it stands this looks too much like one of those late night TV ads that promise making 6 figure by trading forex at home.

There is no commission on FOREX because they see all your stops. Running the stops is how the dealers make the money. Eventually your account is the commission. New Documentary about traders http: What do you think of the academic critique that FX futures trading is a zero sum game, and that returns are largely random? Have you read Nassim Taleb's The Black Swan or his Fooled by Randomness?

If not, go and order a copy of both now. Thanks for taking the time. This question may be a bit specialised for many readers but I'd urge you to take some terms and research them. I worked at a leading market prices provider, who also provided technical analysis tools. In particular I was interested in fractal dimensions, identifying repeating patterns, and variations of moving averages - i designed quite a few of those myself. What tools, or forms of technical analysis tools, have you found most useful for trading forex?

I'd imagine a lot of volatility analysis, but I'd love to know what your preferred set of tools are. One does not "trade" on fundamental analysis. Top down trends take years to develop.

Technical analysis is largely the dominant method in anything sub-year or less. Like most good traders, I work from home. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. By signing up, you agree to our Terms and that you have read our Privacy Policy and Content Policy. Log in or sign up in seconds. Submit a new text post. IAmA subscribe unsubscribe 16, readers 14, users here now Submit an AMA Request an AMA Hide AMA Requests Please check out our Rules and FAQs Click here to request being added to our calendar.

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This is an archived post. You won't be able to vote or comment. I'm back Started trading for the night I'm long GBPJPY Used to trade around when I was actively trading. Can you give a rundown as to how you got into forex trading? How much did you start with? What's your average profit in a typical month?

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What resources do you recommend someone look into if they're considering diving into forex trading? Is this your primary source of income?

I don't see anything scamish there. Read your reply again. What you just said sounds completely shady. Forex is way different than longer term stocks. So I have more than a few questions for you: Is the learning curve as steep as it seems to be or am I perceiving something that is not there?

What did you do before you started day trading? Presumably you started with a decent amount of funding, would you please share how much? What is your perception on risk for hobbyist traders? I have read varying opinions on whether stock trading or currency trading is riskier. Where would you suggest one become educated on currency trading? If you were to average what you make monthly, what figure would you arrive at?

And, of course, thank you in advance. Mainly books and internet. How easily can you explain what you do to people who know nothing about finance, and what do they typically think of your job?

My questions are as follows: Do you use stops? Was last night's loss your biggest? Did you get margin called, or did you close your trade s manually? What's your trading balance now? At what point balance-wise did you switch to FXCM's Active Trader interface? Do you trade a system? If I think of any more questions I'll post them below this.

Leverage is a by-product calculation. I hate IAmA posts that glamorize idiotic actions. They should be called out more. What kind of parties are you guys having anyway? What kind of charge do you get off of that anyway?

What kind of electrolytes do you get off of that anyway? There's no way that made any sense to anyone. No real broker trades at a chop shop like FXCM. God, did I just do that Your money or someone elses? All the JPY pairs are looking really good for tonight. Anyone else have tips for me? FXCM GAIN capital MB trading CMS Fx Alphari.

What was the specific trade that lost you the 50k? Do you have background in finance? Do you ever hang around any sites like forexfactory, elitetrader, etc.? No background in finance. What's the difference between an investor and a speculator? What leverage are you using? Do you have any other currency pairings you focus on? Would you consider yourself more technical or fundamental? How long did it take to go from your initial 10k to where you are now?

I played around with forex for a bit and lost a few hundred. I'm so sorry man. Not that there's anything wrong with it. Posts are automatically archived after 6 months. Nikhil Sonnad, Thu-Huong Ha.

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