BS 10 pips a day Forex Scalping Strategy Forex MT4 ...

I have an 89% win rate over 18 trades, with a 27% profit. How many trades should I do before going live?

So I've been doing some scalping on pairs with high spreads in cryptocurrencies previously with great success, but I finally figured I'd give forex a real shot (was into it a few years ago, but didn't go live). Last time I scalped in crypto, I had 14 out of 14 successful trades, but only about a 10% profit. I haven't heard about anyone scalping the way I do in crypto, but I find my method extremely reliable when I just find the right pair to trade. This is just to say I have some experience with trading, but I'm by no means an expert.
Now, I've been scalping the past few days with a paper trading account on TradingView. I've mostly been trading the US Currency Index, S&P 500 and some crypto pairs thus far. I'm scalping on the 1m time frame using bollinger bands and looking at trends, price action and stoch RSI for confirmation on my entries. I started out with 100k a few days ago and first doubled my account to around 200k and then did a 1,3 mill trade, but I was running like 500-1000 USD per pip, so if the market turned against me, I'd be liquidated real quick. While the trades were good, I figured I was disconnected from the risk I was taking because it isn't real money, and I wanted to try doing more conservative and realistic trades, so I reset the account yesterday.
Edit (more trades done): Since the account was reset, I've done 45 trades where I've lost on two of them. If my math serves me right, that's about an 95.5% win rate. I'm up around 77.5% currently. I did lose 1500 on one trade, but that's because I by mistake placed a sell order when I was supposed to add another buy order double down on my long position, so I'm not counting that one in (but I'm not counting the 1500 I lost as profit either). I have a very strict strategy I'm sticking to when doing these scalps. I realize 45 trades is not a huge sample size, but that is kinda why I'm asking:
How many trades should I do on the paper trading account before I should run it live with confidence?
For anyone who might be interested, here's my account history: https://imgur.com/a/zuRSWwd
Edit: here's 6 trades more: https://imgur.com/a/CmbyU6n
Edit2: some more trades: https://imgur.com/a/q9xqVyq
Edit3: I think we're up to 45 trades now: https://imgur.com/a/CsWZEN7
submitted by imawfullyaverage to Forex [link] [comments]

Former investment bank FX trader: some thoughts

Former investment bank FX trader: some thoughts
Hi guys,
I have been using reddit for years in my personal life (not trading!) and wanted to give something back in an area where i am an expert.
I worked at an investment bank for seven years and joined them as a graduate FX trader so have lots of professional experience, by which i mean I was trained and paid by a big institution to trade on their behalf. This is very different to being a full-time home trader, although that is not to discredit those guys, who can accumulate a good amount of experience/wisdom through self learning.
When I get time I'm going to write a mid-length posts on each topic for you guys along the lines of how i was trained. I guess there would be 15-20 topics in total so about 50-60 posts. Feel free to comment or ask questions.
The first topic is Risk Management and we'll cover it in three parts
Part I
  • Why it matters
  • Position sizing
  • Kelly
  • Using stops sensibly
  • Picking a clear level

Why it matters

The first rule of making money through trading is to ensure you do not lose money. Look at any serious hedge fund’s website and they’ll talk about their first priority being “preservation of investor capital.”
You have to keep it before you grow it.
Strangely, if you look at retail trading websites, for every one article on risk management there are probably fifty on trade selection. This is completely the wrong way around.
The great news is that this stuff is pretty simple and process-driven. Anyone can learn and follow best practices.
Seriously, avoiding mistakes is one of the most important things: there's not some holy grail system for finding winning trades, rather a routine and fairly boring set of processes that ensure that you are profitable, despite having plenty of losing trades alongside the winners.

Capital and position sizing

The first thing you have to know is how much capital you are working with. Let’s say you have $100,000 deposited. This is your maximum trading capital. Your trading capital is not the leveraged amount. It is the amount of money you have deposited and can withdraw or lose.
Position sizing is what ensures that a losing streak does not take you out of the market.
A rule of thumb is that one should risk no more than 2% of one’s account balance on an individual trade and no more than 8% of one’s account balance on a specific theme. We’ll look at why that’s a rule of thumb later. For now let’s just accept those numbers and look at examples.
So we have $100,000 in our account. And we wish to buy EURUSD. We should therefore not be risking more than 2% which $2,000.
We look at a technical chart and decide to leave a stop below the monthly low, which is 55 pips below market. We’ll come back to this in a bit. So what should our position size be?
We go to the calculator page, select Position Size and enter our details. There are many such calculators online - just google "Pip calculator".

https://preview.redd.it/y38zb666e5h51.jpg?width=1200&format=pjpg&auto=webp&s=26e4fe569dc5c1f43ce4c746230c49b138691d14
So the appropriate size is a buy position of 363,636 EURUSD. If it reaches our stop level we know we’ll lose precisely $2,000 or 2% of our capital.
You should be using this calculator (or something similar) on every single trade so that you know your risk.
Now imagine that we have similar bets on EURJPY and EURGBP, which have also broken above moving averages. Clearly this EUR-momentum is a theme. If it works all three bets are likely to pay off. But if it goes wrong we are likely to lose on all three at once. We are going to look at this concept of correlation in more detail later.
The total amount of risk in our portfolio - if all of the trades on this EUR-momentum theme were to hit their stops - should not exceed $8,000 or 8% of total capital. This allows us to go big on themes we like without going bust when the theme does not work.
As we’ll see later, many traders only win on 40-60% of trades. So you have to accept losing trades will be common and ensure you size trades so they cannot ruin you.
Similarly, like poker players, we should risk more on trades we feel confident about and less on trades that seem less compelling. However, this should always be subject to overall position sizing constraints.
For example before you put on each trade you might rate the strength of your conviction in the trade and allocate a position size accordingly:

https://preview.redd.it/q2ea6rgae5h51.png?width=1200&format=png&auto=webp&s=4332cb8d0bbbc3d8db972c1f28e8189105393e5b
To keep yourself disciplined you should try to ensure that no more than one in twenty trades are graded exceptional and allocated 5% of account balance risk. It really should be a rare moment when all the stars align for you.
Notice that the nice thing about dealing in percentages is that it scales. Say you start out with $100,000 but end the year up 50% at $150,000. Now a 1% bet will risk $1,500 rather than $1,000. That makes sense as your capital has grown.
It is extremely common for retail accounts to blow-up by making only 4-5 losing trades because they are leveraged at 50:1 and have taken on far too large a position, relative to their account balance.
Consider that GBPUSD tends to move 1% each day. If you have an account balance of $10k then it would be crazy to take a position of $500k (50:1 leveraged). A 1% move on $500k is $5k.
Two perfectly regular down days in a row — or a single day’s move of 2% — and you will receive a margin call from the broker, have the account closed out, and have lost all your money.
Do not let this happen to you. Use position sizing discipline to protect yourself.

Kelly Criterion

If you’re wondering - why “about 2%” per trade? - that’s a fair question. Why not 0.5% or 10% or any other number?
The Kelly Criterion is a formula that was adapted for use in casinos. If you know the odds of winning and the expected pay-off, it tells you how much you should bet in each round.
This is harder than it sounds. Let’s say you could bet on a weighted coin flip, where it lands on heads 60% of the time and tails 40% of the time. The payout is $2 per $1 bet.
Well, absolutely you should bet. The odds are in your favour. But if you have, say, $100 it is less obvious how much you should bet to avoid ruin.
Say you bet $50, the odds that it could land on tails twice in a row are 16%. You could easily be out after the first two flips.
Equally, betting $1 is not going to maximise your advantage. The odds are 60/40 in your favour so only betting $1 is likely too conservative. The Kelly Criterion is a formula that produces the long-run optimal bet size, given the odds.
Applying the formula to forex trading looks like this:
Position size % = Winning trade % - ( (1- Winning trade %) / Risk-reward ratio
If you have recorded hundreds of trades in your journal - see next chapter - you can calculate what this outputs for you specifically.
If you don't have hundreds of trades then let’s assume some realistic defaults of Winning trade % being 30% and Risk-reward ratio being 3. The 3 implies your TP is 3x the distance of your stop from entry e.g. 300 pips take profit and 100 pips stop loss.
So that’s 0.3 - (1 - 0.3) / 3 = 6.6%.
Hold on a second. 6.6% of your account probably feels like a LOT to risk per trade.This is the main observation people have on Kelly: whilst it may optimise the long-run results it doesn’t take into account the pain of drawdowns. It is better thought of as the rational maximum limit. You needn’t go right up to the limit!
With a 30% winning trade ratio, the odds of you losing on four trades in a row is nearly one in four. That would result in a drawdown of nearly a quarter of your starting account balance. Could you really stomach that and put on the fifth trade, cool as ice? Most of us could not.
Accordingly people tend to reduce the bet size. For example, let’s say you know you would feel emotionally affected by losing 25% of your account.
Well, the simplest way is to divide the Kelly output by four. You have effectively hidden 75% of your account balance from Kelly and it is now optimised to avoid a total wipeout of just the 25% it can see.
This gives 6.6% / 4 = 1.65%. Of course different trading approaches and different risk appetites will provide different optimal bet sizes but as a rule of thumb something between 1-2% is appropriate for the style and risk appetite of most retail traders.
Incidentally be very wary of systems or traders who claim high winning trade % like 80%. Invariably these don’t pass a basic sense-check:
  • How many live trades have you done? Often they’ll have done only a handful of real trades and the rest are simulated backtests, which are overfitted. The model will soon die.
  • What is your risk-reward ratio on each trade? If you have a take profit $3 away and a stop loss $100 away, of course most trades will be winners. You will not be making money, however! In general most traders should trade smaller position sizes and less frequently than they do. If you are going to bias one way or the other, far better to start off too small.

How to use stop losses sensibly

Stop losses have a bad reputation amongst the retail community but are absolutely essential to risk management. No serious discretionary trader can operate without them.
A stop loss is a resting order, left with the broker, to automatically close your position if it reaches a certain price. For a recap on the various order types visit this chapter.
The valid concern with stop losses is that disreputable brokers look for a concentration of stops and then, when the market is close, whipsaw the price through the stop levels so that the clients ‘stop out’ and sell to the broker at a low rate before the market naturally comes back higher. This is referred to as ‘stop hunting’.
This would be extremely immoral behaviour and the way to guard against it is to use a highly reputable top-tier broker in a well regulated region such as the UK.
Why are stop losses so important? Well, there is no other way to manage risk with certainty.
You should always have a pre-determined stop loss before you put on a trade. Not having one is a recipe for disaster: you will find yourself emotionally attached to the trade as it goes against you and it will be extremely hard to cut the loss. This is a well known behavioural bias that we’ll explore in a later chapter.
Learning to take a loss and move on rationally is a key lesson for new traders.
A common mistake is to think of the market as a personal nemesis. The market, of course, is totally impersonal; it doesn’t care whether you make money or not.
Bruce Kovner, founder of the hedge fund Caxton Associates
There is an old saying amongst bank traders which is “losers average losers”.
It is tempting, having bought EURUSD and seeing it go lower, to buy more. Your average price will improve if you keep buying as it goes lower. If it was cheap before it must be a bargain now, right? Wrong.
Where does that end? Always have a pre-determined cut-off point which limits your risk. A level where you know the reason for the trade was proved ‘wrong’ ... and stick to it strictly. If you trade using discretion, use stops.

Picking a clear level

Where you leave your stop loss is key.
Typically traders will leave them at big technical levels such as recent highs or lows. For example if EURUSD is trading at 1.1250 and the recent month’s low is 1.1205 then leaving it just below at 1.1200 seems sensible.

If you were going long, just below the double bottom support zone seems like a sensible area to leave a stop
You want to give it a bit of breathing room as we know support zones often get challenged before the price rallies. This is because lots of traders identify the same zones. You won’t be the only one selling around 1.1200.
The “weak hands” who leave their sell stop order at exactly the level are likely to get taken out as the market tests the support. Those who leave it ten or fifteen pips below the level have more breathing room and will survive a quick test of the level before a resumed run-up.
Your timeframe and trading style clearly play a part. Here’s a candlestick chart (one candle is one day) for GBPUSD.

https://preview.redd.it/moyngdy4f5h51.png?width=1200&format=png&auto=webp&s=91af88da00dd3a09e202880d8029b0ddf04fb802
If you are putting on a trend-following trade you expect to hold for weeks then you need to have a stop loss that can withstand the daily noise. Look at the downtrend on the chart. There were plenty of days in which the price rallied 60 pips or more during the wider downtrend.
So having a really tight stop of, say, 25 pips that gets chopped up in noisy short-term moves is not going to work for this kind of trade. You need to use a wider stop and take a smaller position size, determined by the stop level.
There are several tools you can use to help you estimate what is a safe distance and we’ll look at those in the next section.
There are of course exceptions. For example, if you are doing range-break style trading you might have a really tight stop, set just below the previous range high.

https://preview.redd.it/ygy0tko7f5h51.png?width=1200&format=png&auto=webp&s=34af49da61c911befdc0db26af66f6c313556c81
Clearly then where you set stops will depend on your trading style as well as your holding horizons and the volatility of each instrument.
Here are some guidelines that can help:
  1. Use technical analysis to pick important levels (support, resistance, previous high/lows, moving averages etc.) as these provide clear exit and entry points on a trade.
  2. Ensure that the stop gives your trade enough room to breathe and reflects your timeframe and typical volatility of each pair. See next section.
  3. Always pick your stop level first. Then use a calculator to determine the appropriate lot size for the position, based on the % of your account balance you wish to risk on the trade.
So far we have talked about price-based stops. There is another sort which is more of a fundamental stop, used alongside - not instead of - price stops. If either breaks you’re out.
For example if you stop understanding why a product is going up or down and your fundamental thesis has been confirmed wrong, get out. For example, if you are long because you think the central bank is turning hawkish and AUDUSD is going to play catch up with rates … then you hear dovish noises from the central bank and the bond yields retrace lower and back in line with the currency - close your AUDUSD position. You already know your thesis was wrong. No need to give away more money to the market.

Coming up in part II

EDIT: part II here
Letting stops breathe
When to change a stop
Entering and exiting winning positions
Risk:reward ratios
Risk-adjusted returns

Coming up in part III

Squeezes and other risks
Market positioning
Bet correlation
Crap trades, timeouts and monthly limits

***
Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

Read Carefully Experts!

This may appear to be a noob question, but read on carefully and please try and understand the point I'm trying to make! I'm hoping your answers might be helpful to people both learning Forex and looking to get into it, so please don't hate on me for this post.
I am relatively new to FX and have learned about break and retest strategies, MACD crossovers and stop losses below structure and risk to reward ratios (usually going for 1:1 or 2/3:1) and so on. I say this only so you know I've a general (very basic) understanding of charts, price action etc.
I definitely do NOT expect to step into the markets and instantly win a majority of my trades, however, to illustrate my thoughts please note the example below.
If I am winning 2% on a winning trade and losing 1% on a losing trade (2:1 reward risk per trade), a strategy that wins just 50% of the time trading once per trading day would be +10% each month. (10 days of -1%, 10 days of +2%). +10% is a HUGE increase in accounts and if a $1000 account was +10% per month for 12 months the end of year balance would be over $3138.43 or a 213.84% return!
This leads me to a theory that almost NO system can be returning 50% on a 2:1 reward risk, even with careful trade selection (let's say I monitor the 7 major pairs, gold and GBP/JPY as I do and pick one entry a day) Am I wrong? I appreciate it is a hypothetical example designed to make a point, but my thoughts are if you monitored lots of pairs and took only ONE entry a day, we might expect to win 50% of the time.
Let's expand this further. I have seen numerous algos (can't name them but looking like they win at LEAST 50% of the time) which tempt me because they appear to indicate moves I could jump on and where I could pull a bunch of pips out of the market. However, there surely cannot be a holy grail or are people making this type of insane return? It cannot be as easy as buying an algo, signing up to $300,000 worth of FTMO funding and earning 10% per month for an easy $21,000 per month income with profit share. Or maybe it is and I'm just cynical?! I end up getting tempted by courses etc. in the hope that if I spent £400 on a good course it would open the door to what I need to do, but I'm nervous this is just another huge mistake.
I genuinely would love to trade Forex for a living. Really I would. I hope it's possible and I hope to learn a strategy I can wash, rinse and repeat. I love watching videos and live streamers who seem to have a great understanding of what's going on but I wonder if it's really possible. It seems a million miles away but I'm determined to keep learning and trading.
Reading your considered thoughts to this post would be helpful for me and I'm sure others and thank you for reading it.
submitted by mal4291 to Forex [link] [comments]

Former investment bank FX trader: Risk management part II

Former investment bank FX trader: Risk management part II
Firstly, thanks for the overwhelming comments and feedback. Genuinely really appreciated. I am pleased 500+ of you find it useful.
If you didn't read the first post you can do so here: risk management part I. You'll need to do so in order to make sense of the topic.
As ever please comment/reply below with questions or feedback and I'll do my best to get back to you.
Part II
  • Letting stops breathe
  • When to change a stop
  • Entering and exiting winning positions
  • Risk:reward ratios
  • Risk-adjusted returns

Letting stops breathe

We talked earlier about giving a position enough room to breathe so it is not stopped out in day-to-day noise.
Let’s consider the chart below and imagine you had a trailing stop. It would be super painful to miss out on the wider move just because you left a stop that was too tight.

Imagine being long and stopped out on a meaningless retracement ... ouch!
One simple technique is simply to look at your chosen chart - let’s say daily bars. And then look at previous trends and use the measuring tool. Those generally look something like this and then you just click and drag to measure.
For example if we wanted to bet on a downtrend on the chart above we might look at the biggest retracement on the previous uptrend. That max drawdown was about 100 pips or just under 1%. So you’d want your stop to be able to withstand at least that.
If market conditions have changed - for example if CVIX has risen - and daily ranges are now higher you should incorporate that. If you know a big event is coming up you might think about that, too. The human brain is a remarkable tool and the power of the eye-ball method is not to be dismissed. This is how most discretionary traders do it.
There are also more analytical approaches.
Some look at the Average True Range (ATR). This attempts to capture the volatility of a pair, typically averaged over a number of sessions. It looks at three separate measures and takes the largest reading. Think of this as a moving average of how much a pair moves.
For example, below shows the daily move in EURUSD was around 60 pips before spiking to 140 pips in March. Conditions were clearly far more volatile in March. Accordingly, you would need to leave your stop further away in March and take a correspondingly smaller position size.

ATR is available on pretty much all charting systems
Professional traders tend to use standard deviation as a measure of volatility instead of ATR. There are advantages and disadvantages to both. Averages are useful but can be misleading when regimes switch (see above chart).
Once you have chosen a measure of volatility, stop distance can then be back-tested and optimised. For example does 2x ATR work best or 5x ATR for a given style and time horizon?
Discretionary traders may still eye-ball the ATR or standard deviation to get a feeling for how it has changed over time and what ‘normal’ feels like for a chosen study period - daily, weekly, monthly etc.

Reasons to change a stop

As a general rule you should be disciplined and not change your stops. Remember - losers average losers. This is really hard at first and we’re going to look at that in more detail later.
There are some good reasons to modify stops but they are rare.
One reason is if another risk management process demands you stop trading and close positions. We’ll look at this later. In that case just close out your positions at market and take the loss/gains as they are.
Another is event risk. If you have some big upcoming data like Non Farm Payrolls that you know can move the market +/- 150 pips and you have no edge going into the release then many traders will take off or scale down their positions. They’ll go back into the positions when the data is out and the market has quietened down after fifteen minutes or so. This is a matter of some debate - many traders consider it a coin toss and argue you win some and lose some and it all averages out.
Trailing stops can also be used to ‘lock in’ profits. We looked at those before. As the trade moves in your favour (say up if you are long) the stop loss ratchets with it. This means you may well end up ‘stopping out’ at a profit - as per the below example.

The mighty trailing stop loss order
It is perfectly reasonable to have your stop loss move in the direction of PNL. This is not exposing you to more risk than you originally were comfortable with. It is taking less and less risk as the trade moves in your favour. Trend-followers in particular love trailing stops.
One final question traders ask is what they should do if they get stopped out but still like the trade. Should they try the same trade again a day later for the same reasons? Nope. Look for a different trade rather than getting emotionally wed to the original idea.
Let’s say a particular stock looked cheap based on valuation metrics yesterday, you bought, it went down and you got stopped out. Well, it is going to look even better on those same metrics today. Maybe the market just doesn’t respect value at the moment and is driven by momentum. Wait it out.
Otherwise, why even have a stop in the first place?

Entering and exiting winning positions

Take profits are the opposite of stop losses. They are also resting orders, left with the broker, to automatically close your position if it reaches a certain price.
Imagine I’m long EURUSD at 1.1250. If it hits a previous high of 1.1400 (150 pips higher) I will leave a sell order to take profit and close the position.
The rookie mistake on take profits is to take profit too early. One should start from the assumption that you will win on no more than half of your trades. Therefore you will need to ensure that you win more on the ones that work than you lose on those that don’t.

Sad to say but incredibly common: retail traders often take profits way too early
This is going to be the exact opposite of what your emotions want you to do. We are going to look at that in the Psychology of Trading chapter.
Remember: let winners run. Just like stops you need to know in advance the level where you will close out at a profit. Then let the trade happen. Don’t override yourself and let emotions force you to take a small profit. A classic mistake to avoid.
The trader puts on a trade and it almost stops out before rebounding. As soon as it is slightly in the money they spook and cut out, instead of letting it run to their original take profit. Do not do this.

Entering positions with limit orders

That covers exiting a position but how about getting into one?
Take profits can also be left speculatively to enter a position. Sometimes referred to as “bids” (buy orders) or “offers” (sell orders). Imagine the price is 1.1250 and the recent low is 1.1205.
You might wish to leave a bid around 1.2010 to enter a long position, if the market reaches that price. This way you don’t need to sit at the computer and wait.
Again, typically traders will use tech analysis to identify attractive levels. Again - other traders will cluster with your orders. Just like the stop loss we need to bake that in.
So this time if we know everyone is going to buy around the recent low of 1.1205 we might leave the take profit bit a little bit above there at 1.1210 to ensure it gets done. Sure it costs 5 more pips but how mad would you be if the low was 1.1207 and then it rallied a hundred points and you didn’t have the trade on?!
There are two more methods that traders often use for entering a position.
Scaling in is one such technique. Let’s imagine that you think we are in a long-term bulltrend for AUDUSD but experiencing a brief retracement. You want to take a total position of 500,000 AUD and don’t have a strong view on the current price action.
You might therefore leave a series of five bids of 100,000. As the price moves lower each one gets hit. The nice thing about scaling in is it reduces pressure on you to pick the perfect level. Of course the risk is that not all your orders get hit before the price moves higher and you have to trade at-market.
Pyramiding is the second technique. Pyramiding is for take profits what a trailing stop loss is to regular stops. It is especially common for momentum traders.

Pyramiding into a position means buying more as it goes in your favour
Again let’s imagine we’re bullish AUDUSD and want to take a position of 500,000 AUD.
Here we add 100,000 when our first signal is reached. Then we add subsequent clips of 100,000 when the trade moves in our favour. We are waiting for confirmation that the move is correct.
Obviously this is quite nice as we humans love trading when it goes in our direction. However, the drawback is obvious: we haven’t had the full amount of risk on from the start of the trend.
You can see the attractions and drawbacks of both approaches. It is best to experiment and choose techniques that work for your own personal psychology as these will be the easiest for you to stick with and build a disciplined process around.

Risk:reward and win ratios

Be extremely skeptical of people who claim to win on 80% of trades. Most traders will win on roughly 50% of trades and lose on 50% of trades. This is why risk management is so important!
Once you start keeping a trading journal you’ll be able to see how the win/loss ratio looks for you. Until then, assume you’re typical and that every other trade will lose money.
If that is the case then you need to be sure you make more on the wins than you lose on the losses. You can see the effect of this below.

A combination of win % and risk:reward ratio determine if you are profitable
A typical rule of thumb is that a ratio of 1:3 works well for most traders.
That is, if you are prepared to risk 100 pips on your stop you should be setting a take profit at a level that would return you 300 pips.
One needn’t be religious about these numbers - 11 pips and 28 pips would be perfectly fine - but they are a guideline.
Again - you should still use technical analysis to find meaningful chart levels for both the stop and take profit. Don’t just blindly take your stop distance and do 3x the pips on the other side as your take profit. Use the ratio to set approximate targets and then look for a relevant resistance or support level in that kind of region.

Risk-adjusted returns

Not all returns are equal. Suppose you are examining the track record of two traders. Now, both have produced a return of 14% over the year. Not bad!
The first trader, however, made hundreds of small bets throughout the year and his cumulative PNL looked like the left image below.
The second trader made just one bet — he sold CADJPY at the start of the year — and his PNL looked like the right image below with lots of large drawdowns and volatility.
Would you rather have the first trading record or the second?
If you were investing money and betting on who would do well next year which would you choose? Of course all sensible people would choose the first trader. Yet if you look only at returns one cannot distinguish between the two. Both are up 14% at that point in time. This is where the Sharpe ratio helps .
A high Sharpe ratio indicates that a portfolio has better risk-adjusted performance. One cannot sensibly compare returns without considering the risk taken to earn that return.
If I can earn 80% of the return of another investor at only 50% of the risk then a rational investor should simply leverage me at 2x and enjoy 160% of the return at the same level of risk.
This is very important in the context of Execution Advisor algorithms (EAs) that are popular in the retail community. You must evaluate historic performance by its risk-adjusted return — not just the nominal return. Incidentally look at the Sharpe ratio of ones that have been live for a year or more ...
Otherwise an EA developer could produce two EAs: the first simply buys at 1000:1 leverage on January 1st ; and the second sells in the same manner. At the end of the year, one of them will be discarded and the other will look incredible. Its risk-adjusted return, however, would be abysmal and the odds of repeated success are similarly poor.

Sharpe ratio

The Sharpe ratio works like this:
  • It takes the average returns of your strategy;
  • It deducts from these the risk-free rate of return i.e. the rate anyone could have got by investing in US government bonds with very little risk;
  • It then divides this total return by its own volatility - the more smooth the return the higher and better the Sharpe, the more volatile the lower and worse the Sharpe.
For example, say the return last year was 15% with a volatility of 10% and US bonds are trading at 2%. That gives (15-2)/10 or a Sharpe ratio of 1.3. As a rule of thumb a Sharpe ratio of above 0.5 would be considered decent for a discretionary retail trader. Above 1 is excellent.
You don’t really need to know how to calculate Sharpe ratios. Good trading software will do this for you. It will either be available in the system by default or you can add a plug-in.

VAR

VAR is another useful measure to help with drawdowns. It stands for Value at Risk. Normally people will use 99% VAR (conservative) or 95% VAR (aggressive). Let’s say you’re long EURUSD and using 95% VAR. The system will look at the historic movement of EURUSD. It might spit out a number of -1.2%.

A 5% VAR of -1.2% tells you you should expect to lose 1.2% on 5% of days, whilst 95% of days should be better than that
This means it is expected that on 5 days out of 100 (hence the 95%) the portfolio will lose 1.2% or more. This can help you manage your capital by taking appropriately sized positions. Typically you would look at VAR across your portfolio of trades rather than trade by trade.
Sharpe ratios and VAR don’t give you the whole picture, though. Legendary fund manager, Howard Marks of Oaktree, notes that, while tools like VAR and Sharpe ratios are helpful and absolutely necessary, the best investors will also overlay their own judgment.
Investors can calculate risk metrics like VaR and Sharpe ratios (we use them at Oaktree; they’re the best tools we have), but they shouldn’t put too much faith in them. The bottom line for me is that risk management should be the responsibility of every participant in the investment process, applying experience, judgment and knowledge of the underlying investments.Howard Marks of Oaktree Capital
What he’s saying is don’t misplace your common sense. Do use these tools as they are helpful. However, you cannot fully rely on them. Both assume a normal distribution of returns. Whereas in real life you get “black swans” - events that should supposedly happen only once every thousand years but which actually seem to happen fairly often.
These outlier events are often referred to as “tail risk”. Don’t make the mistake of saying “well, the model said…” - overlay what the model is telling you with your own common sense and good judgment.

Coming up in part III

Available here
Squeezes and other risks
Market positioning
Bet correlation
Crap trades, timeouts and monthly limits

***
Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

Former investment bank FX trader: Risk management part 3/3

Former investment bank FX trader: Risk management part 3/3
Welcome to the third and final part of this chapter.
Thank you all for the 100s of comments and upvotes - maybe this post will take us above 1,000 for this topic!
Keep any feedback or questions coming in the replies below.
Before you read this note, please start with Part I and then Part II so it hangs together and makes sense.
Part III
  • Squeezes and other risks
  • Market positioning
  • Bet correlation
  • Crap trades, timeouts and monthly limits

Squeezes and other risks

We are going to cover three common risks that traders face: events; squeezes, asymmetric bets.

Events

Economic releases can cause large short-term volatility. The most famous is Non Farm Payrolls, which is the most widely watched measure of US employment levels and affects the price of many instruments.On an NFP announcement currencies like EURUSD might jump (or drop) 100 pips no problem.
This is fine and there are trading strategies that one may employ around this but the key thing is to be aware of these releases.You can find economic calendars all over the internet - including on this site - and you need only check if there are any major releases each day or week.
For example, if you are trading off some intraday chart and scalping a few pips here and there it would be highly sensible to go into a known data release flat as it is pure coin-toss and not the reason for your trading. It only takes five minutes each day to plan for the day ahead so do not get caught out by this. Many retail traders get stopped out on such events when price volatility is at its peak.

Squeezes

Short squeezes bring a lot of danger and perhaps some opportunity.
The story of VW and Porsche is the best short squeeze ever. Throughout these articles we've used FX examples wherever possible but in this one instance the concept (which is also highly relevant in FX) is best illustrated with an historical lesson from a different asset class.
A short squeeze is when a participant ends up in a short position they are forced to cover. Especially when the rest of the market knows that this participant can be bullied into stopping out at terrible levels, provided the market can briefly drive the price into their pain zone.

There's a reason for the car, don't worry
Hedge funds had been shorting VW stock. However the amount of VW stock available to buy in the open market was actually quite limited. The local government owned a chunk and Porsche itself had bought and locked away around 30%. Neither of these would sell to the hedge-funds so a good amount of the stock was un-buyable at any price.
If you sell or short a stock you must be prepared to buy it back to go flat at some point.
To cut a long story short, Porsche bought a lot of call options on VW stock. These options gave them the right to purchase VW stock from banks at slightly above market price.
Eventually the banks who had sold these options realised there was no VW stock to go out and buy since the German government wouldn’t sell its allocation and Porsche wouldn’t either. If Porsche called in the options the banks were in trouble.
Porsche called in the options which forced the shorts to buy stock - at whatever price they could get it.
The price squeezed higher as those that were short got massively squeezed and stopped out. For one brief moment in 2008, VW was the world’s most valuable company. Shorts were burned hard.

Incredible event
Porsche apparently made $11.5 billion on the trade. The BBC described Porsche as “a hedge fund with a carmaker attached.”
If this all seems exotic then know that the same thing happens in FX all the time. If everyone in the market is talking about a key level in EURUSD being 1.2050 then you can bet the market will try to push through 1.2050 just to take out any short stops at that level. Whether it then rallies higher or fails and trades back lower is a different matter entirely.
This brings us on to the matter of crowded trades. We will look at positioning in more detail in the next section. Crowded trades are dangerous for PNL. If everyone believes EURUSD is going down and has already sold EURUSD then you run the risk of a short squeeze.
For additional selling to take place you need a very good reason for people to add to their position whereas a move in the other direction could force mass buying to cover their shorts.
A trading mentor when I worked at the investment bank once advised me:
Always think about which move would cause the maximum people the maximum pain. That move is precisely what you should be watching out for at all times.

Asymmetric losses

Also known as picking up pennies in front of a steamroller. This risk has caught out many a retail trader. Sometimes it is referred to as a "negative skew" strategy.
Ideally what you are looking for is asymmetric risk trade set-ups: that is where the downside is clearly defined and smaller than the upside. What you want to avoid is the opposite.
A famous example of this going wrong was the Swiss National Bank de-peg in 2012.
The Swiss National Bank had said they would defend the price of EURCHF so that it did not go below 1.2. Many people believed it could never go below 1.2 due to this. Many retail traders therefore opted for a strategy that some describe as ‘picking up pennies in front of a steam-roller’.
They would would buy EURCHF above the peg level and hope for a tiny rally of several pips before selling them back and keep doing this repeatedly. Often they were highly leveraged at 100:1 so that they could amplify the profit of the tiny 5-10 pip rally.
Then this happened.

Something that changed FX markets forever
The SNB suddenly did the unthinkable. They stopped defending the price. CHF jumped and so EURCHF (the number of CHF per 1 EUR) dropped to new lows very fast. Clearly, this trade had horrific risk : reward asymmetry: you risked 30% to make 0.05%.
Other strategies like naively selling options have the same result. You win a small amount of money each day and then spectacularly blow up at some point down the line.

Market positioning

We have talked about short squeezes. But how do you know what the market position is? And should you care?
Let’s start with the first. You should definitely care.
Let’s imagine the entire market is exceptionally long EURUSD and positioning reaches extreme levels. This makes EURUSD very vulnerable.
To keep the price going higher EURUSD needs to attract fresh buy orders. If everyone is already long and has no room to add, what can incentivise people to keep buying? The news flow might be good. They may believe EURUSD goes higher. But they have already bought and have their maximum position on.
On the flip side, if there’s an unexpected event and EURUSD gaps lower you will have the entire market trying to exit the position at the same time. Like a herd of cows running through a single doorway. Messy.
We are going to look at this in more detail in a later chapter, where we discuss ‘carry’ trades. For now this TRYJPY chart might provide some idea of what a rush to the exits of a crowded position looks like.

A carry trade position clear-out in action
Knowing if the market is currently at extreme levels of long or short can therefore be helpful.
The CFTC makes available a weekly report, which details the overall positions of speculative traders “Non Commercial Traders” in some of the major futures products. This includes futures tied to deliverable FX pairs such as EURUSD as well as products such as gold. The report is called “CFTC Commitments of Traders” ("COT").
This is a great benchmark. It is far more representative of the overall market than the proprietary ones offered by retail brokers as it covers a far larger cross-section of the institutional market.
Generally market participants will not pay a lot of attention to commercial hedgers, which are also detailed in the report. This data is worth tracking but these folks are simply hedging real-world transactions rather than speculating so their activity is far less revealing and far more noisy.
You can find the data online for free and download it directly here.

Raw format is kinda hard to work with

However, many websites will chart this for you free of charge and you may find it more convenient to look at it that way. Just google “CFTC positioning charts”.

But you can easily get visualisations
You can visually spot extreme positioning. It is extremely powerful.
Bear in mind the reports come out Friday afternoon US time and the report is a snapshot up to the prior Tuesday. That means it is a lagged report - by the time it is released it is a few days out of date. For longer term trades where you hold positions for weeks this is of course still pretty helpful information.
As well as the absolute level (is the speculative market net long or short) you can also use this to pick up on changes in positioning.
For example if bad news comes out how much does the net short increase? If good news comes out, the market may remain net short but how much did they buy back?
A lot of traders ask themselves “Does the market have this trade on?” The positioning data is a good method for answering this. It provides a good finger on the pulse of the wider market sentiment and activity.
For example you might say: “There was lots of noise about the good employment numbers in the US. However, there wasn’t actually a lot of position change on the back of it. Maybe everyone who wants to buy already has. What would happen now if bad news came out?”
In general traders will be wary of entering a crowded position because it will be hard to attract additional buyers or sellers and there could be an aggressive exit.
If you want to enter a trade that is showing extreme levels of positioning you must think carefully about this dynamic.

Bet correlation

Retail traders often drastically underestimate how correlated their bets are.
Through bitter experience, I have learned that a mistake in position correlation is the root of some of the most serious problems in trading. If you have eight highly correlated positions, then you are really trading one position that is eight times as large.
Bruce Kovner of hedge fund, Caxton Associates
For example, if you are trading a bunch of pairs against the USD you will end up with a simply huge USD exposure. A single USD-trigger can ruin all your bets. Your ideal scenario — and it isn’t always possible — would be to have a highly diversified portfolio of bets that do not move in tandem.
Look at this chart. Inverted USD index (DXY) is green. AUDUSD is orange. EURUSD is blue.

Chart from TradingView
So the whole thing is just one big USD trade! If you are long AUDUSD, long EURUSD, and short DXY you have three anti USD bets that are all likely to work or fail together.
The more diversified your portfolio of bets are, the more risk you can take on each.
There’s a really good video, explaining the benefits of diversification from Ray Dalio.
A systematic fund with access to an investable universe of 10,000 instruments has more opportunity to make a better risk-adjusted return than a trader who only focuses on three symbols. Diversification really is the closest thing to a free lunch in finance.
But let’s be pragmatic and realistic. Human retail traders don’t have capacity to run even one hundred bets at a time. More realistic would be an average of 2-3 trades on simultaneously. So what can be done?
For example:
  • You might diversify across time horizons by having a mix of short-term and long-term trades.
  • You might diversify across asset classes - trading some FX but also crypto and equities.
  • You might diversify your trade generation approach so you are not relying on the same indicators or drivers on each trade.
  • You might diversify your exposure to the market regime by having some trades that assume a trend will continue (momentum) and some that assume we will be range-bound (carry).
And so on. Basically you want to scan your portfolio of trades and make sure you are not putting all your eggs in one basket. If some trades underperform others will perform - assuming the bets are not correlated - and that way you can ensure your overall portfolio takes less risk per unit of return.
The key thing is to start thinking about a portfolio of bets and what each new trade offers to your existing portfolio of risk. Will it diversify or amplify a current exposure?

Crap trades, timeouts and monthly limits

One common mistake is to get bored and restless and put on crap trades. This just means trades in which you have low conviction.
It is perfectly fine not to trade. If you feel like you do not understand the market at a particular point, simply choose not to trade.
Flat is a position.
Do not waste your bullets on rubbish trades. Only enter a trade when you have carefully considered it from all angles and feel good about the risk. This will make it far easier to hold onto the trade if it moves against you at any point. You actually believe in it.
Equally, you need to set monthly limits. A standard limit might be a 10% account balance stop per month. At that point you close all your positions immediately and stop trading till next month.

Be strict with yourself and walk away
Let’s assume you started the year with $100k and made 5% in January so enter Feb with $105k balance. Your stop is therefore 10% of $105k or $10.5k . If your account balance dips to $94.5k ($105k-$10.5k) then you stop yourself out and don’t resume trading till March the first.
Having monthly calendar breaks is nice for another reason. Say you made a load of money in January. You don’t want to start February feeling you are up 5% or it is too tempting to avoid trading all month and protect the existing win. Each month and each year should feel like a clean slate and an independent period.
Everyone has trading slumps. It is perfectly normal. It will definitely happen to you at some stage. The trick is to take a break and refocus. Conserve your capital by not trading a lot whilst you are on a losing streak. This period will be much harder for you emotionally and you’ll end up making suboptimal decisions. An enforced break will help you see the bigger picture.
Put in place a process before you start trading and then it’ll be easy to follow and will feel much less emotional. Remember: the market doesn’t care if you win or lose, it is nothing personal.
When your head has cooled and you feel calm you return the next month and begin the task of building back your account balance.

That's a wrap on risk management

Thanks for taking time to read this three-part chapter on risk management. I hope you enjoyed it. Do comment in the replies if you have any questions or feedback.
Remember: the most important part of trading is not making money. It is not losing money. Always start with that principle. I hope these three notes have provided some food for thought on how you might approach risk management and are of practical use to you when trading. Avoiding mistakes is not a sexy tagline but it is an effective and reliable way to improve results.
Next up I will be writing about an exciting topic I think many traders should look at rather differently: news trading. Please follow on here to receive notifications and the broad outline is below.
News Trading Part I
  • Introduction
  • Why use the economic calendar
  • Reading the economic calendar
  • Knowing what's priced in
  • Surveys
  • Interest rates
  • First order thinking vs second order thinking
News Trading Part II
  • Preparing for quantitative and qualitative releases
  • Data surprise index
  • Using recent events to predict future reactions
  • Buy the rumour, sell the fact
  • The mysterious 'position trim' effect
  • Reversals
  • Some key FX releases
***

Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

Never traded before - need help understanding if I’m being propositioned a scam or this is just how Forex works

My mother, being concerned for my future wellbeing, as I’m not a successful person by any means, has introduced me to a friend of hers that apparently is a “currency exchange” trader or something.
I’m generally a sceptical person so I put off the idea of having a zoom meeting with this person for a few weeks. But today I met him, he was a pleasant older man, apparently about 70 years old.
Essentially, he claims that he spent $40,000 ish about 7-8 years ago to be given a proper education in the whole Forex and analysis thing. Makes a decent living himself but as he’s nearing retirement he wants to offer me free tuition to essentially learn the ropes.
I don’t, at least yet, see where I am to lose money, unless it’s a really long game scam.
But in essence he wants me to go through the entire pips school thing, and if I manage to without finding it too difficult, understanding the basics, and showing that I’m actually up for putting the effort in, he will essentially teach me everything he knows etc, set up in modules. This won’t cost me anything other than my time.
Where I get a little confused and, as I’m completely oblivious to all of this, it may just be how these things work.
But he said, he’ll show me how to set up a Demo account and over the months learn how to try to make consistent growth on these demo account (I believe he spoke in the 3%+ per month range)
And here’s where I don’t know if it gets shady or if it’s ok. . . Once I’m relatively experienced in this, showing consistency on this etc, he says he can offer me access to a hedge fund or something? Where apparently I trade some other organisations money and not my own? Something like $100,000 per fund and I’d be expected to make profits, but never more than a 5% loss in a month or a 10% loss in any one day. Other than that, I would apparently receive 10% of profits from that.
Only thing is something to do with a server fee, something like to have access to those funds it’s something like $750 a month that’s deducted from your profit, so I don’t know if it’s a scam or it’s just how the professional world of this works.
Either way I’m keen to learn from the modules he’s sending me and so on, just not sure about any part once actual money, whether that be mine or someone else’s, is involved.
Any advice would be well received thanks
submitted by brooksjonx to Forex [link] [comments]

Forex Signals Reddit: top providers review (part 1)

Forex Signals Reddit: top providers review (part 1)

Forex Signals - TOP Best Services. Checked!

To invest in the financial markets, we must acquire good tools that help us carry out our operations in the best possible way. In this sense, we always talk about the importance of brokers, however, signal systems must also be taken into account.
The platforms that offer signals to invest in forex provide us with alerts that will help us in a significant way to be able to carry out successful operations.
For this reason, we are going to tell you about the importance of these alerts in relation to the trading we carry out, because, without a doubt, this type of system will provide us with very good information to invest at the right time and in the best assets in the different markets. financial
Within this context, we will focus on Forex signals, since it is the most important market in the world, since in it, multiple transactions are carried out on a daily basis, hence the importance of having an alert system that offers us all the necessary data to invest in currencies.
Also, as we all already know, cryptocurrencies have become a very popular alternative to investing in traditional currencies. Therefore, some trading services/tools have emerged that help us to carry out successful operations in this particular market.
In the following points, we will detail everything you need to know to start operating in the financial markets using trading signals: what are signals, how do they work, because they are a very powerful help, etc. Let's go there!

What are Forex Trading Signals?

https://preview.redd.it/vjdnt1qrpny51.jpg?width=640&format=pjpg&auto=webp&s=bc541fc996701e5b4dd940abed610b59456a5625
Before explaining the importance of Forex signals, let's start by making a small note so that we know what exactly these alerts are.
Thus, we will know that the signals on the currency market are received by traders to know all the information that concerns Forex, both for assets and for the market itself.
These alerts allow us to know the movements that occur in the Forex market and the changes that occur in the different currency pairs. But the great advantage that this type of system gives us is that they provide us with the necessary information, to know when is the right time to carry out our investments.
In other words, through these signals, we will know the opportunities that are presented in the market and we will be able to carry out operations that can become quite profitable.
Profitability is precisely another of the fundamental aspects that must be taken into account when we talk about Forex signals since the vast majority of these alerts offer fairly reliable data on assets. Similarly, these signals can also provide us with recommendations or advice to make our operations more successful.

»Purpose: predict movements to carry out Profitable Operations

In short, Forex signal systems aim to predict the behavior that the different assets that are in the market will present and this is achieved thanks to new technologies, the creation of specialized software, and of course, the work of financial experts.
In addition, it must also be borne in mind that the reliability of these alerts largely lies in the fact that they are prepared by financial professionals. So they turn out to be a perfect tool so that our investments can bring us a greater number of benefits.

The best signal services today

We are going to tell you about the 3 main alert system services that we currently have on the market. There are many more, but I can assure these are not scams and are reliable. Of course, not 100% of trades will be a winner, so please make sure you apply proper money management and risk management system.

1. 1000pipbuilder (top choice)

Fast track your success and follow the high-performance Forex signals from 1000pip Builder. These Forex signals are rated 5 stars on Investing.com, so you can follow every signal with confidence. All signals are sent by a professional trader with over 10 years investment experience. This is a unique opportunity to see with your own eyes how a professional Forex trader trades the markets.
The 1000pip Builder Membership is ordinarily a signal service for Forex trading. You will get all the facts you need to successfully comply with the trading signals, set your stop loss and take earnings as well as additional techniques and techniques!
You will get easy to use trading indicators for Forex Trades, including your entry, stop loss and take profit. Overall, the earnings target per months is 350 Pips, depending on your funding this can be a high profit per month! (In fact, there is by no means a guarantee, but the past months had been all between 600 – 1000 Pips).
>>>Know more about 1000pipbuilder
Your 1000pip builder membership gives you all in hand you want to start trading Forex with success. Read the directions and wait for the first signals. You can trade them inside your demo account first, so you can take a look at the performance before you make investments real money!
Features:
  • Free Trial
  • Forex signals sent by email and SMS
  • Entry price, take profit and stop loss provided
  • Suitable for all time zones (signals sent over 24 hours)
  • MyFXBook verified performance
  • 10 years of investment experience
  • Target 300-400 pips per month
Pricing:
https://preview.redd.it/zjc10xx6ony51.png?width=668&format=png&auto=webp&s=9b0eac95f8b584dc0cdb62503e851d7036c0232b
VISIT 1000ipbuilder here

2. DDMarkets

Digital Derivatives Markets (DDMarkets) have been providing trade alert offerings since May 2014 - fully documenting their change ideas in an open and transparent manner.
September 2020 performance report for DD Markets.
Their manner is simple: carry out extensive research, share their evaluation and then deliver a trading sign when triggered. Once issued, daily updates on the trade are despatched to members via email.
It's essential to note that DDMarkets do not tolerate floating in an open drawdown in an effort to earnings at any cost - a common method used by less professional providers to 'fudge' performance statistics.
Verified Statistics: Not independently verified.
Price: plans from $74.40 per month.
Year Founded: 2014
Suitable for Beginners: Yes, (includes handy to follow trade analysis)
VISIT
-------

3. JKonFX

If you are looking or a forex signal service with a reliable (and profitable) music record you can't go previous Joel Kruger and the team at JKonFX.
Trading performance file for JKonFX.
Joel has delivered a reputable +59.18% journal performance for 2016, imparting real-time technical and fundamental insights, in an extremely obvious manner, to their 30,000+ subscriber base. Considered a low-frequency trader, alerts are only a small phase of the overall JKonFX subscription. If you're searching for hundreds of signals, you may want to consider other options.
Verified Statistics: Not independently verified.
Price: plans from $30 per month.
Year Founded: 2014
Suitable for Beginners: Yes, (includes convenient to follow videos updates).
VISIT

The importance of signals to invest in Forex

Once we have known what Forex signals are, we must comment on the importance of these alerts in relation to our operations.
As we have already told you in the previous paragraph, having a system of signals to be able to invest is quite advantageous, since, through these alerts, we will obtain quality information so that our operations end up being a true success.

»Use of signals for beginners and experts

In this sense, we have to say that one of the main advantages of Forex signals is that they can be used by both beginners and trading professionals.
As many as others can benefit from using a trading signal system because the more information and resources we have in our hands. The greater probability of success we will have. Let's see how beginners and experts can take advantage of alerts:
  • Beginners: for inexperienced these alerts become even more important since they will thus have an additional tool that will guide them to carry out all operations in the Forex market.
  • Professionals: In the same way, professionals are also recommended to make use of these alerts, so they have adequate information to continue bringing their investments to fruition.
Now that we know that both beginners and experts can use forex signals to invest, let's see what other advantages they have.

»Trading automation

When we dedicate ourselves to working in the financial world, none of us can spend 24 hours in front of the computer waiting to perform the perfect operation, it is impossible.
That is why Forex signals are important, because, in order to carry out our investments, all we will have to do is wait for those signals to arrive, be attentive to all the alerts we receive, and thus, operate at the right time according to the opportunities that have arisen.
It is fantastic to have a tool like this one that makes our work easier in this regard.

»Carry out profitable Forex operations

These signals are also important, because the vast majority of them are usually quite profitable, for this reason, we must get an alert system that provides us with accurate information so that our operations can bring us great benefits.
But in addition, these Forex signals have an added value and that is that they are very easy to understand, therefore, we will have a very useful tool at hand that will not be complicated and will end up being a very beneficial weapon for us.

»Decision support analysis

A system of currency market signals is also very important because it will help us to make our subsequent decisions.
We cannot forget that, to carry out any type of operation in this market, previously, we must meditate well and know the exact moment when we will know that our investments are going to bring us profits .
Therefore, all the information provided by these alerts will be a fantastic basis for future operations that we are going to carry out.

»Trading Signals made by professionals

Finally, we have to recall the idea that these signals are made by the best professionals. Financial experts who know perfectly how to analyze the movements that occur in the market and changes in prices.
Hence the importance of alerts, since they are very reliable and are presented as a necessary tool to operate in Forex and that our operations are as profitable as possible.

What should a signal provider be like?

https://preview.redd.it/j0ne51jypny51.png?width=640&format=png&auto=webp&s=5578ff4c42bd63d5b6950fc6401a5be94b97aa7f
As you have seen, Forex signal systems are really important for our operations to bring us many benefits. For this reason, at present, there are multiple platforms that offer us these financial services so that investing in currencies is very simple and fast.
Before telling you about the main services that we currently have available in the market, it is recommended that you know what are the main characteristics that a good signal provider should have, so that, at the time of your choice, you are clear that you have selected one of the best systems.

»Must send us information on the main currency pairs

In this sense, one of the first things we have to comment on is that a good signal provider, at a minimum, must send us alerts that offer us information about the 6 main currencies, in this case, we refer to the euro, dollar, The pound, the yen, the Swiss franc, and the Canadian dollar.
Of course, the data you provide us will be related to the pairs that make up all these currencies. Although we can also find systems that offer us information about other minorities, but as we have said, at a minimum, we must know these 6.

»Trading tools to operate better

Likewise, signal providers must also provide us with a large number of tools so that we can learn more about the Forex market.
We refer, for example, to technical analysis above all, which will help us to develop our own strategies to be able to operate in this market.
These analyzes are always prepared by professionals and study, mainly, the assets that we have available to invest.

»Different Forex signals reception channels

They must also make available to us different ways through which they will send us the Forex signals, the usual thing is that we can acquire them through the platform's website, or by a text message and even through our email.
In addition, it is recommended that the signal system we choose sends us a large number of alerts throughout the day, in order to have a wide range of possibilities.

»Free account and customer service

Other aspects that we must take into account to choose a good signal provider is whether we have the option of receiving, for a limited time, alerts for free or the profitability of the signals they emit to us.
Similarly, a final aspect that we must emphasize is that a good signal system must also have excellent customer service, which is available to us 24 hours a day and that we can contact them at through an email, a phone number, or a live chat, for greater immediacy.
Well, having said all this, in our last section we are going to tell you which are the best services currently on the market. That is, the most suitable Forex signal platforms to be able to work with them and carry out good operations. In this case, we will talk about ForexPro Signals, 365 Signals and Binary Signals.

Forex Signals Reddit: conclusion

To be able to invest properly in the Forex market, it is convenient that we get a signal system that provides us with all the necessary information about this market. It must be remembered that Forex is a very volatile market and therefore, many movements tend to occur quickly.
Asset prices can change in a matter of seconds, hence the importance of having a system that helps us analyze the market and thus know, what is the right time for us to start operating.
Therefore, although there are currently many signal systems that can offer us good services, the three that we have mentioned above are the ones that are best valued by users, which is why they are the best signal providers that we can choose to carry out. our investments.
Most of these alerts are quite profitable and in addition, these systems usually emit a large number of signals per day with full guarantees. For all this, SignalsForexPro, Signals365, or SignalsBinary are presented as fundamental tools so that we can obtain a greater number of benefits when we carry out our operations in the currency market.
submitted by kayakero to makemoneyforexreddit [link] [comments]

Hands on or hands off

Hi all. I am in a very difficult psychologically situation. I have studied for 7 years to be a day trader. Stare at the charts all day, actively manage, bla bla bla. So here is my struggle.
Off the bat, my goal is to one day be a full time forex trader with no other source of income
Recently I started reading off levels. I go in for 10m per day (while on the crapper in the morning) set up 20-30 alerts on my phone, and then just enter blindly for 1.5 rr during the day. I get about 60% strike rate, more than enough to be popping champagne and living the life. I get about 3-4 setups per day. That is option 1.
Option 1 downside is eventually I get a short like gbpusd this Monday, where I got in for 4 pip stop and could have trailed it for 15RR!
Option 2 is active trading. Sitting at the desk, charting out, following news events, the works. Taking positions, trailing stops to lock profits, the stress that goes with it.
I should be happy with option 1 but it keeps feeling wrong. As if I am cheating. It cannot be this easy, can it? Furthermore, if I go full time to only trade 10 mins per say and make 2-3 R almost every day, what will I do the rest of the time? I am one of those guys raised with the "you have to work hard around the clock" mentality, and I know that does not apply to Forex and trading at all. Nevertheless, 10m per day just feels and sounds weird, and I can't shake the feeling I will get a slap in the face for it. But I backtested. I forward tested. I have been trading it in a micro account for 2 months and it checks out.
Reddit, what is your opinion. Option 1 laid back, or go back to the grinder and do option 2
Edit : correcting typo
View Poll
submitted by crypthon to Forex [link] [comments]

H1 Backtest of ParallaxFX's BBStoch system

Disclaimer: None of this is financial advice. I have no idea what I'm doing. Please do your own research or you will certainly lose money. I'm not a statistician, data scientist, well-seasoned trader, or anything else that would qualify me to make statements such as the below with any weight behind them. Take them for the incoherent ramblings that they are.
TL;DR at the bottom for those not interested in the details.
This is a bit of a novel, sorry about that. It was mostly for getting my own thoughts organized, but if even one person reads the whole thing I will feel incredibly accomplished.

Background

For those of you not familiar, please see the various threads on this trading system here. I can't take credit for this system, all glory goes to ParallaxFX!
I wanted to see how effective this system was at H1 for a couple of reasons: 1) My current broker is TD Ameritrade - their Forex minimum is a mini lot, and I don't feel comfortable enough yet with the risk to trade mini lots on the higher timeframes(i.e. wider pip swings) that ParallaxFX's system uses, so I wanted to see if I could scale it down. 2) I'm fairly impatient, so I don't like to wait days and days with my capital tied up just to see if a trade is going to win or lose.
This does mean it requires more active attention since you are checking for setups once an hour instead of once a day or every 4-6 hours, but the upside is that you trade more often this way so you end up winning or losing faster and moving onto the next trade. Spread does eat more of the trade this way, but I'll cover this in my data below - it ends up not being a problem.
I looked at data from 6/11 to 7/3 on all pairs with a reasonable spread(pairs listed at bottom above the TL;DR). So this represents about 3-4 weeks' worth of trading. I used mark(mid) price charts. Spreadsheet link is below for anyone that's interested.

System Details

I'm pretty much using ParallaxFX's system textbook, but since there are a few options in his writeups, I'll include all the discretionary points here:

And now for the fun. Results!

As you can see, a higher target ended up with higher profit despite a much lower winrate. This is partially just how things work out with profit targets in general, but there's an additional point to consider in our case: the spread. Since we are trading on a lower timeframe, there is less overall price movement and thus the spread takes up a much larger percentage of the trade than it would if you were trading H4, Daily or Weekly charts. You can see exactly how much it accounts for each trade in my spreadsheet if you're interested. TDA does not have the best spreads, so you could probably improve these results with another broker.
EDIT: I grabbed typical spreads from other brokers, and turns out while TDA is pretty competitive on majors, their minors/crosses are awful! IG beats them by 20-40% and Oanda beats them 30-60%! Using IG spreads for calculations increased profits considerably (another 5% on top) and Oanda spreads increased profits massively (another 15%!). Definitely going to be considering another broker than TDA for this strategy. Plus that'll allow me to trade micro-lots, so I can be more granular(and thus accurate) with my position sizing and compounding.

A Note on Spread

As you can see in the data, there were scenarios where the spread was 80% of the overall size of the trade(the size of the confirmation candle that you draw your fibonacci retracements over), which would obviously cut heavily into your profits.
Removing any trades where the spread is more than 50% of the trade width improved profits slightly without removing many trades, but this is almost certainly just coincidence on a small sample size. Going below 40% and even down to 30% starts to cut out a lot of trades for the less-common pairs, but doesn't actually change overall profits at all(~1% either way).
However, digging all the way down to 25% starts to really make some movement. Profit at the -161.8% TP level jumps up to 37.94% if you filter out anything with a spread that is more than 25% of the trade width! And this even keeps the sample size fairly large at 187 total trades.
You can get your profits all the way up to 48.43% at the -161.8% TP level if you filter all the way down to only trades where spread is less than 15% of the trade width, however your sample size gets much smaller at that point(108 trades) so I'm not sure I would trust that as being accurate in the long term.
Overall based on this data, I'm going to only take trades where the spread is less than 25% of the trade width. This may bias my trades more towards the majors, which would mean a lot more correlated trades as well(more on correlation below), but I think it is a reasonable precaution regardless.

Time of Day

Time of day had an interesting effect on trades. In a totally predictable fashion, a vast majority of setups occurred during the London and New York sessions: 5am-12pm Eastern. However, there was one outlier where there were many setups on the 11PM bar - and the winrate was about the same as the big hours in the London session. No idea why this hour in particular - anyone have any insight? That's smack in the middle of the Tokyo/Sydney overlap, not at the open or close of either.
On many of the hour slices I have a feeling I'm just dealing with small number statistics here since I didn't have a lot of data when breaking it down by individual hours. But here it is anyway - for all TP levels, these three things showed up(all in Eastern time):
I don't have any reason to think these timeframes would maintain this behavior over the long term. They're almost certainly meaningless. EDIT: When you de-dup highly correlated trades, the number of trades in these timeframes really drops, so from this data there is no reason to think these timeframes would be any different than any others in terms of winrate.
That being said, these time frames work out for me pretty well because I typically sleep 12am-7am Eastern time. So I automatically avoid the 5am-6am timeframe, and I'm awake for the majority of this system's setups.

Moving stops up to breakeven

This section goes against everything I know and have ever heard about trade management. Please someone find something wrong with my data. I'd love for someone to check my formulas, but I realize that's a pretty insane time commitment to ask of a bunch of strangers.
Anyways. What I found was that for these trades moving stops up...basically at all...actually reduced the overall profitability.
One of the data points I collected while charting was where the price retraced back to after hitting a certain milestone. i.e. once the price hit the -61.8% profit level, how far back did it retrace before hitting the -100% profit level(if at all)? And same goes for the -100% profit level - how far back did it retrace before hitting the -161.8% profit level(if at all)?
Well, some complex excel formulas later and here's what the results appear to be. Emphasis on appears because I honestly don't believe it. I must have done something wrong here, but I've gone over it a hundred times and I can't find anything out of place.
Now, you might think exactly what I did when looking at these numbers: oof, the spread killed us there right? Because even when you move your SL to 0%, you still end up paying the spread, so it's not truly "breakeven". And because we are trading on a lower timeframe, the spread can be pretty hefty right?
Well even when I manually modified the data so that the spread wasn't subtracted(i.e. "Breakeven" was truly +/- 0), things don't look a whole lot better, and still way worse than the passive trade management method of leaving your stops in place and letting it run. And that isn't even a realistic scenario because to adjust out the spread you'd have to move your stoploss inside the candle edge by at least the spread amount, meaning it would almost certainly be triggered more often than in the data I collected(which was purely based on the fib levels and mark price). Regardless, here are the numbers for that scenario:
From a literal standpoint, what I see behind this behavior is that 44 of the 69 breakeven trades(65%!) ended up being profitable to -100% after retracing deeply(but not to the original SL level), which greatly helped offset the purely losing trades better than the partial profit taken at -61.8%. And 36 went all the way back to -161.8% after a deep retracement without hitting the original SL. Anyone have any insight into this? Is this a problem with just not enough data? It seems like enough trades that a pattern should emerge, but again I'm no expert.
I also briefly looked at moving stops to other lower levels (78.6%, 61.8%, 50%, 38.2%, 23.6%), but that didn't improve things any. No hard data to share as I only took a quick look - and I still might have done something wrong overall.
The data is there to infer other strategies if anyone would like to dig in deep(more explanation on the spreadsheet below). I didn't do other combinations because the formulas got pretty complicated and I had already answered all the questions I was looking to answer.

2-Candle vs Confirmation Candle Stops

Another interesting point is that the original system has the SL level(for stop entries) just at the outer edge of the 2-candle pattern that makes up the system. Out of pure laziness, I set up my stops just based on the confirmation candle. And as it turns out, that is much a much better way to go about it.
Of the 60 purely losing trades, only 9 of them(15%) would go on to be winners with stops on the 2-candle formation. Certainly not enough to justify the extra loss and/or reduced profits you are exposing yourself to in every single other trade by setting a wider SL.
Oddly, in every single scenario where the wider stop did save the trade, it ended up going all the way to the -161.8% profit level. Still, not nearly worth it.

Correlated Trades

As I've said many times now, I'm really not qualified to be doing an analysis like this. This section in particular.
Looking at shared currency among the pairs traded, 74 of the trades are correlated. Quite a large group, but it makes sense considering the sort of moves we're looking for with this system.
This means you are opening yourself up to more risk if you were to trade on every signal since you are technically trading with the same underlying sentiment on each different pair. For example, GBP/USD and AUD/USD moving together almost certainly means it's due to USD moving both pairs, rather than GBP and AUD both moving the same size and direction coincidentally at the same time. So if you were to trade both signals, you would very likely win or lose both trades - meaning you are actually risking double what you'd normally risk(unless you halve both positions which can be a good option, and is discussed in ParallaxFX's posts and in various other places that go over pair correlation. I won't go into detail about those strategies here).
Interestingly though, 17 of those apparently correlated trades ended up with different wins/losses.
Also, looking only at trades that were correlated, winrate is 83%/70%/55% (for the three TP levels).
Does this give some indication that the same signal on multiple pairs means the signal is stronger? That there's some strong underlying sentiment driving it? Or is it just a matter of too small a sample size? The winrate isn't really much higher than the overall winrates, so that makes me doubt it is statistically significant.
One more funny tidbit: EUCAD netted the lowest overall winrate: 30% to even the -61.8% TP level on 10 trades. Seems like that is just a coincidence and not enough data, but dang that's a sucky losing streak.
EDIT: WOW I spent some time removing correlated trades manually and it changed the results quite a bit. Some thoughts on this below the results. These numbers also include the other "What I will trade" filters. I added a new worksheet to my data to show what I ended up picking.
To do this, I removed correlated trades - typically by choosing those whose spread had a lower % of the trade width since that's objective and something I can see ahead of time. Obviously I'd like to only keep the winning trades, but I won't know that during the trade. This did reduce the overall sample size down to a level that I wouldn't otherwise consider to be big enough, but since the results are generally consistent with the overall dataset, I'm not going to worry about it too much.
I may also use more discretionary methods(support/resistance, quality of indecision/confirmation candles, news/sentiment for the pairs involved, etc) to filter out correlated trades in the future. But as I've said before I'm going for a pretty mechanical system.
This brought the 3 TP levels and even the breakeven strategies much closer together in overall profit. It muted the profit from the high R:R strategies and boosted the profit from the low R:R strategies. This tells me pair correlation was skewing my data quite a bit, so I'm glad I dug in a little deeper. Fortunately my original conclusion to use the -161.8 TP level with static stops is still the winner by a good bit, so it doesn't end up changing my actions.
There were a few times where MANY (6-8) correlated pairs all came up at the same time, so it'd be a crapshoot to an extent. And the data showed this - often then won/lost together, but sometimes they did not. As an arbitrary rule, the more correlations, the more trades I did end up taking(and thus risking). For example if there were 3-5 correlations, I might take the 2 "best" trades given my criteria above. 5+ setups and I might take the best 3 trades, even if the pairs are somewhat correlated.
I have no true data to back this up, but to illustrate using one example: if AUD/JPY, AUD/USD, CAD/JPY, USD/CAD all set up at the same time (as they did, along with a few other pairs on 6/19/20 9:00 AM), can you really say that those are all the same underlying movement? There are correlations between the different correlations, and trying to filter for that seems rough. Although maybe this is a known thing, I'm still pretty green to Forex - someone please enlighten me if so! I might have to look into this more statistically, but it would be pretty complex to analyze quantitatively, so for now I'm going with my gut and just taking a few of the "best" trades out of the handful.
Overall, I'm really glad I went further on this. The boosting of the B/E strategies makes me trust my calculations on those more since they aren't so far from the passive management like they were with the raw data, and that really had me wondering what I did wrong.

What I will trade

Putting all this together, I am going to attempt to trade the following(demo for a bit to make sure I have the hang of it, then for keeps):
Looking at the data for these rules, test results are:
I'll be sure to let everyone know how it goes!

Other Technical Details

Raw Data

Here's the spreadsheet for anyone that'd like it. (EDIT: Updated some of the setups from the last few days that have fully played out now. I also noticed a few typos, but nothing major that would change the overall outcomes. Regardless, I am currently reviewing every trade to ensure they are accurate.UPDATE: Finally all done. Very few corrections, no change to results.)
I have some explanatory notes below to help everyone else understand the spiraled labyrinth of a mind that put the spreadsheet together.

Insanely detailed spreadsheet notes

For you real nerds out there. Here's an explanation of what each column means:

Pairs

  1. AUD/CAD
  2. AUD/CHF
  3. AUD/JPY
  4. AUD/NZD
  5. AUD/USD
  6. CAD/CHF
  7. CAD/JPY
  8. CHF/JPY
  9. EUAUD
  10. EUCAD
  11. EUCHF
  12. EUGBP
  13. EUJPY
  14. EUNZD
  15. EUUSD
  16. GBP/AUD
  17. GBP/CAD
  18. GBP/CHF
  19. GBP/JPY
  20. GBP/NZD
  21. GBP/USD
  22. NZD/CAD
  23. NZD/CHF
  24. NZD/JPY
  25. NZD/USD
  26. USD/CAD
  27. USD/CHF
  28. USD/JPY

TL;DR

Based on the reasonable rules I discovered in this backtest:

Demo Trading Results

Since this post, I started demo trading this system assuming a 5k capital base and risking ~1% per trade. I've added the details to my spreadsheet for anyone interested. The results are pretty similar to the backtest when you consider real-life conditions/timing are a bit different. I missed some trades due to life(work, out of the house, etc), so that brought my total # of trades and thus overall profit down, but the winrate is nearly identical. I also closed a few trades early due to various reasons(not liking the price action, seeing support/resistance emerge, etc).
A quick note is that TD's paper trade system fills at the mid price for both stop and limit orders, so I had to subtract the spread from the raw trade values to get the true profit/loss amount for each trade.
I'm heading out of town next week, then after that it'll be time to take this sucker live!

Live Trading Results

I started live-trading this system on 8/10, and almost immediately had a string of losses much longer than either my backtest or demo period. Murphy's law huh? Anyways, that has me spooked so I'm doing a longer backtest before I start risking more real money. It's going to take me a little while due to the volume of trades, but I'll likely make a new post once I feel comfortable with that and start live trading again.
submitted by ForexBorex to Forex [link] [comments]

5%ers Prop Shop: Money Management Plan for 5%ers Forex Funding

Trading for 5%ers Forex Prop Funding: Risk Management Plan.

Follow results here.

Plan will come into effect 24th October. First day risk settings were higher but sustained a 1% drawodwn. Bit too much for a one day drawdown with 4% drawdown limit. Position risk will be revised upon the closing of current open trades.

UR = "Units of Risk". Learn more about UR money management here.

Stage UR Value ($) Max Week Max Week Max Week Max Day
Qualifying 1 42 14 7 3
Funded 1 4 168 56 28 12
Funded 2 8 336 112 56 24
Funded 3 16 672 224 112 48
Funded 4 34 1344 448 224 96
Funded 5 68 2688 896 448 192
Funded 6 136 5376 1792 896 384
Funded 7 272 10752 3584 1792 768


Lot sizing for UR (Per 10 pips)

P = Pips
1 UR =$ 10 p 20 p 30 p 40 p 50 p 60 p 70 p 80 p 90 p 100 p
1 0.01 2 UR 3 UR 4 UR 5 UR 6 UR 7 UR 8 UR 9 UR 10 UR
4 0.04 2 UR 3 UR 4 UR 5 UR 6 UR 7 UR 8 UR 9 UR 10 UR
8 0.08 2 UR 3 UR 4 UR 5 UR 6 UR 7 UR 8 UR 9 UR 10 UR
16 0.16 2 UR 3 UR 4 UR 5 UR 6 UR 7 UR 8 UR 9 UR 10 UR
34 0.32 2 UR 3 UR 4 UR 5 UR 6 UR 7 UR 8 UR 9 UR 10 UR
68 0.64 2 UR 3 UR 4 UR 5 UR 6 UR 7 UR 8 UR 9 UR 10 UR
136 1.28 2 UR 3 UR 4 UR 5 UR 6 UR 7 UR 8 UR 9 UR 10 UR
272 2.56 2 UR 3 UR 4 UR 5 UR 6 UR 7 UR 8 UR 9 UR 10 UR

The above table calculates the lot size to be used for UR to be equal to 10 pips (On US majors) at each level. This can be used to select lot sizes set by the amount of pips that need to be risked.

Examples;
Desired risk is 5 UR. The stop loss is 10 pips. 5* 0.01 (Or 0.05) is appropriate lot size.
Desired risk is 5 UR. The stop loss is 50 pips. 0.01 is appropriate lot size.
Desired risk is 5 UR. On two trades stops are 20 and 30 pips. 5* 0.02 & 0.03 are appropriate lot sizes.

Results for my 5%ers Forex funded account.

submitted by db_aum to ForexFunding [link] [comments]

Let me show you how I make money.

Again within 24 hours of trying to work out a way to make this sustainable and workable for everyone I've noticed it's not worth the hassle to do so. It seems a lot of you expect everything for nothing.

I'm afraid that is not going to work for me. Nothing I am doing is free for me, and if people do not want to pitch in the tiniest bit to help with that I can only conclude one of two things;

1 - The info is not worth $50 to you. In which case it is not worth my time writing it.
2 - People are ungrateful. In which case it is not worth my time writing it.

If people were willing to meet me half way, I'd have went a lot further. People seem to want to stand where they are and shout over to me I'm a scammer for not bringing it all to their feet. That's a perspective. You can have it. I do not mind. But if this is your talk, I'll trade in silence. I'll also show you what happens with the "Scammy" info I was going to provide you for $50.
In the week ahead I'll set up an account with a similar amount to the amount of money people seem to think it's egregious to ask for, and I'll run the same trades on this as will be in the trading plans shared in the proposed offer. I'll use recognised results tracking programs that will automatically verify and display the results.

Build up phase:

I'll start with currency trades. These are the lowest barrier to entry since I can trade micro lots and also have access to leverage. Currency trades should give me about 400 'pips' margin of error. Realistically, I should not need more than 40. I think SPX will be up 2 - 4% next week, this should give gains to on the Aussie against the Swiss (AUDCHF) - I'll go long AUDCHF.

Margin up phase:

After the currency trades I should have enough to trade SPX. I'll start to position short on SPX around 3080 and I'll take a first target of 2377. Given the right setups I'll add to my SPX short as prices are falling to bulk up the net take profit on the trade if it works. I'll trail my stops on the first trades to mke sure I'm not increasing my risk .

Big up phase:

By this time I should have enough margin to trade the Dow. Here I can make some real money. Around 21,000 I'll start to short the Dow and I'll be targeting 10,000. This trade should pay me somewhere in the region of $50,000 per traded lot. During the move I should be able to build up a position of at least 4 - 5 lots on the margin I have. Should be over $200,000 if it hits.

Cash flow up phase:

Once the drop has happened, I will begin to go long and do it in ways that will generate me daily income. I'll do this by transferring about $100K into options account and selling puts for 100 SPY. I'll also switch back to currency trades and I'll engage in what are known as "Carry trades", these will pay me every day I hold the trade based upon the "Swap".
The best carry trades will depend upon what respective interest rates are at the time. Assuming things are similar (relatively) to how they currently are, I will be buying the Aussie, Kiwi and Turkish currencies and I'll be selling them against the dollar and Yen. This will be long AUDUSD, NZDUSD, AUDJPY, NZDJPY and short USDTRY. I'll allocate $50,000 to carry trades.

I'll use the remaining money to hedge and offset risks/losses on my cash flow trades if that is needed, and if not I will use it to make similar trades but ones based upon a short time frame and geared towards risk:reward based profit rather than passive cash flow. I'll keep doing this until the Dow is back to around 17,000 - 18,000.

Crash cash phase:

For the next phase of the drop I will again switch to trading the Dow. This is where I can make most money. I might also allocate $100 - 200K to OTM puts, but since this can be a slower more steady crash it will make more sense to build a position in the CFD market on the Dow. Again my Dow trade should pay over $50,000 per lot. This time building up over 20 lots should be fairly easy.

Cash flow decade phase:

Once the market has crashed I will start to become a big options seller. i'll also engage in carry trades if interest rates are not all screwed up (Which is there are 'currency wars' they could be). Being able to be on the right side of a carry trade will determine if this is viable or not - and that has some variables that can not be known at this time. I'd love to be able to just short USDTRY, though. If it's viable.

With options, I will be selling both put options and call options. I think once the crash has happened we will enter into a long term theta market last 10 - 15 years - this period is known as a 'Lost decade)'. I'll sell SPY puts for under the lows and I'll also sell SPY calls each time there is jumps in upside volatility. I'll be happy to sell SPY calls for 200 for literally years on end.

By this time I should have more than $50.

I'll update my swing plans either bi-weekly, weekly or monthly. Pending on how much free time I have. I'll edit this post to add in the results tracking material when I set it up.

Update: Here's the tracking link. http://www.myfxbook.com/members/2020sBeasomething-for-nothing/6040046

I set the copy software to invert trades & the first trades went short AUDCHF rather than long. That puts me on quite a substantial losing start, but it should not matter. Might push the start of SPX trades back a week. Probably won't. Let me just show the value of what I've been trying to teach you.
submitted by 2020sbear to u/2020sbear [link] [comments]

Leaving this thread

I joined this thread a few weeks ago. I thought it was a place where real traders hangout and actually learn from each other. Learning forex is not just strategy and psychology. I've learnt people here got a fixed state of mind about risk management and money management. Whereas I have been consistent with 10%, I have friends who trade 20%, 30% and as little as 5%.
Some who take the whole move and others who take whatever ago.
I would ask why, and they all reply,"My risk management."
What could be a learning moment always turns into an exchange of nasty conversation. My very memorable "nemesis" who told me I need to be saved, I'm too far gone, etc, also bragged he has been trading profitably for 2 years. He recently posted how he is depressed about trading and is actually afraid of the markets. hasn't trade for months now and when he did, it was only for 5 months.
Most of them are computer science and Finance students. They are quick to tell every newbie how they need such background to be succesful taders. Here's the kicker. Only one trader in my circle has a C.S background. All the others have A Bachelors of Obsession and Perseverance. Of course there are very few cool finance and CS students here. No beef.
At the end of the day, I'm only human. And these conversation, at the very least trigger a conversation. At the most annoys me. I know scalpers and swingers and I treat them equally. at the end of the day they are all securing the bag. I'm nice to them, so at the end of the day they drop me a nugget.
  1. The dude who turns 200 to 250k in under a month. "Dude, Icmarkets is great. but after opening with 200$, split that into ten accounts. and if you go bust then you have only lost 20."
  2. A 100 lots guy,"if you loose 3 trades in a row, go back to demo."
  3. my homeboy rockstar trader, I would call him up like yo I just had the biggest week ever, I.m 50% up. and he's like, withdraw and go treat yourself. It took me 2 years before my first withdrawal. you've made it in a year. And, I'm like," but I'm trynna compound.."
  4. And he's like,"At the very least open an extra account."
These look like simple remarks but mix em with your strategy and they take you a step further, control greed, give you a chance to stop and refine your strategy, Give you a chance to come back after a blown account, I could go on and on. there is so much I've learnt even from mediocre traders with flashy lifestyle on IG.
Now I just mentioned a guy who trades the 1 min and make 80-100+% per trade. instead of someone asking me how's that possible? Have you seen his Myfxbook? No He went on about how that's pure bullshit. Now my personality trait, I would wanna answer him that I have actually seen his myfxbook and that is how i actually keep track of each %age.
So basically this thread has consumed my time online and offline and in some way affected my trading. I remember closing a trade at 10 pips profit just so my account would be a solid 30 something %, when I was positive that the trade had higher chances of reaching 45 pips, I just didnt wanna risk the propbable chance of it reversing to my SL. so that i could sshot and post it to the few haters and non believers that I had earned in this thread. Now look at this, With the cute sshot I was 30%+ up, but without it and the haters, I would've been about 70% up that.
Whereas I had myself and my few trading friends who I actually reach out to ask questions. now I had a bunch of people to convince that there actually is money in forex. Even when I'm not online I find myself thinking about this thread. Wanting to come online to answer a few question or just read some posts.
I have caught myself checking this page first before starting my backtesting. we all know how a quick check can turn into minutes on the internet. I'd come online and see a "pro trader" telling a newbie how he needs a Finance or C.S background to succeed in this field, if not just foget about it. And these replies are always delivered with a touch of arrogance that makes me go like wtf?! and i would jump in and reply.
More power to those who can manage being apart of a toxic group. I have managed to help a few who reached out to me from this group but that's that. As for me I can manage the negative energy and trade and run a super productive life.
Anyways, I'm one strike away from a perma ban for posting profits. So...yeah
submitted by Gottagethard to Forex [link] [comments]

Young "millionaires" from trading, Real or Fake?

Ok, so I want to get into trading as I've been stalking this trader for a while now on social media and honestly it seems too good to be true.
I've done intensive research into his life but I can't quite see why or how he is making so much money... let's start with the basics, he grew up in a city 30mins away from me, he failed school dropped out and apparently started trading at an early age of around 18. Heres where it gets weird: him and 2 of his (what seems like) childhood friends created and owns a company, let's call it "GO-forex" and the company seems to be a signal giving forex company (I'm not sure how it all works) but apparently he sends messages to other forex trades when to make trades. Apparently he does this for free as he gets paid by "another company" to do this as his job.
What's sketchy is the way he recruits people and how the business model works, basically when I asked if I could work for him he said "you need more followers" on Instagram. I looked at his workers, a group of 10-15 people and they all had 5k+ followers on Instagram an continuously keep posting things like motivation, why forex is the best, flexing and importantly, telling people to get on this free forex signals thing. That's how I found out about him, a mutual friend was working for him promoting forex lifestyl and that but suddenly left and became a mechanic... what's also sketchy is that he keeps saying "minimum £300 is what the broker will take for you to start and you can withdraw money at any time" I know a broker gets commission and stuff but whats going on here? He posts daily messages he gets from his customers making £90 or £120 and them thanking him, and his always like "join now!!!". I think the app he uses is metatrader and he always flexes when he makes a lot of pips, making anywhere between £1000 to £7000 profit per day.
He is also constantly promoting his masterclass and shows that he is into real estate investing too. I really have no clue what is going on with this, what's the business model? Does he make more money off the company or trading himself? Is he faking it till he makes it? Is he secretly the broker? Is he stealing his customers money and using it for his own trades? Why does he want to give people signals? Why is his business so reliant on social media? Is he a fraud?
I have too many questions but not any answers. He is living the life I always wanted yet he looks like he hasn't worked hard or isn't that smart....
submitted by AnonymousFlamer to Trading [link] [comments]

I am a professional Day Trader working for a Prop Fund, Hope I can help people out and answer some questions

Howdy all, I work professionally for a proprietary trading fund, and have worked for quite a few in my time, hope I can offer some insights on trading etc you guys might have.
Bonus for you guys
Here are the columns in my trading journal and various explanations where appropriate:
Trade Number – Simply is this the first trade of the year? The 10th?, The 50th? I count a trade
that you opened and closed just one trade number. For example if you buy EUUSD today and
sell it 50 pips later in the day and close out the trade, then that is just one trade for recording
purposes. I do not create a second trade number to describe the exit. Both the entry and exit are
under the same trade number.


Ticket Number – This is ticket number / order ID number that your broker gives you for the trade
on your platform.


Day of the Week – This would be simply the day of the week the trade was initiated


Financial Instrument / Currency Pair – Whatever Financial Instrument or currency pair you are
trading. If you are trading EUUSD, put EUUSD. If you are trading the EuroFX futures
contract, then put in Euro FX. If you are trading the emini S&P, then put in Emini S&P 500. If
you are trading a stock, put in the ticker symbol. Etc.


Buy/Sell or Long/Short – Did you buy or sell to open the new trade? If you bought something to
open the trade, then write in either BUY or LONG. If you sold(shorted) something to open a
trade, then write in SOLD, or SHORT. This is a personal preference. Some people like to put in
their journals as BUY/SELL. Other people like to write in Long/Short. My preference is for
writing in long/short, since that is the more professional way to say it. I like to use the lingo
where possible.


Order Type – Market or Limit – When you entered the trade was it a market order or limit order?
Some people can enter a trade using a combination of market and limit orders. If you enter a
trade for $1 million half of which was market order and the other half was limit order, then you
can write in $500,000 Market, $500,000 Limit as a bullet points.


Position Size / Units / Contracts / Shares – How big was the total trade you entered? If you
bought 1 standard lot of a currency pair, then write in $100,000 or 1 standard lot. If you bought 5
gold futures contracts, then write in 5 contracts. If you bought 1,000 shares of stock, then write
in 1,000 shares. Etc.


Entry Price – The entry price you received entering your opening position. If you entered at
multiple prices, then you can either write in all the different fills you got, or specify the average
price received.


Entry Date – Date that you entered the position. For example January 23, 2012. Or you can
write in 1/23/12

.
Entry Time – Time that you opened the position. If it is multiple positions, then you can specify
each time for each various fill, or you can specify the time range. For example if you got
$100,000 worth of EUUSD filled at 3:00 AM EST, and another $100,000 filled at 3:05 and
another $100,000 filled at 3:25, then you can write all those in, or you can specify a range of 3:00
– 3:30 AM EST.


Entry Spread Cost (in pips) – This is optional if you want to keep track of your spread cost in
pips. If you executed a market order, how many pips did you pay in spread.


Entry Spread Cost (in dollars) – This is optional if you want to keep track of your spread cost in
dollars. If you executed a market order, how many dollars did you pay in spread.


Stop Loss Size – How big is your stop loss size? If you are trading a currency pair, then you
write in the pips. If you are trading the S&P futures contract, then write in the number of points.
If you are trading a stock, then write in how many cents or dollars your stop is away from your
entry price.


% Risk – If you were to get stopped out of the trade, how much % loss of your equity is that?
This is where you input your risk per trade expressed in % terms if you use such a position sizing
method. If you risked 0.50% of your account on the trade, then put in 0.50%


Risk in dollars – If you were to get stopped out of the trade, how much loss in dollars is that. For
example if you have a $100,000 account and you risked 1% on a trade, then write in $1,000
dollars


Potential Reward: Risk Ratio – This is a column that I only sometimes fill in. You write in what
the potential reward risk ratio of the trade is. If you are trading using a 100 pip stop and you
expect that the market can reasonably move 300 pips, then you can write in 3:1. Of course this is
an interesting column because you can look at it after the trade is finished and see how close you
were or how far removed from reality your initial projections were.


Potential Win Rate – This is another column that I only sometimes fill in. You write in what you
believe the potential win rate of this trade is. If you were to place this trade 10 times in a row,
how many times do you think you would win? I write it in as percentage terms. If you believe
the trade has a 50% chance to win, then write in 50%.


Type of Inefficiency – This is where you write in what type of inefficiency you are looking to
capture. I use the word inefficiency here. I believe it is important to think of trading setups as
inefficiencies. If you think in terms of inefficiencies, then you will think in terms of the market
being mispriced, then you will think about the reasons why the market is mispriced and why such
market expectations for example are out of alignment with reality. In this category I could write
in different types of trades such as fading the stops, different types of news trades, expecting
stops to get tripped, betting on sentiment intensifying, betting on sentiment reversing, etc. I do
not write in all the reasons why I took the trade in this column. I do that in another column. This
column is just to broadly define what type of inefficiency you are looking to capture.


Chart Time Frame – I do not use this since all my order flow based trades have nothing to do
with what chart time frame I look at. However, if you are a chartist or price action trader, then
you may want to include what chart time frame you found whatever pattern you were looking at.


Exit Price – When you exit your trade, you enter the price you received here.


Exit Date – The date you exited your trade.


Exit Time – The time you exited your trade.


Trade Duration – In hours, minutes, days or weeks. If the trade lasts less than an hour, I will
usually write in the duration in minutes. Anything in between 1 and 48 hours, I write in the hours
amount. Anything past that and I write it as days or weeks as appropriate, etc.
Pips the trade went against you before turning into a winner – If you have a trade that suffered a
draw down, but did not stop you out and eventually was a winner, then you write it how many
pips the trade went against you before it turned into a profitable trade. The reason you have this
column is to compare it to your stop loss size and see any patterns that emerge. If you notice that
a lot of your winning trades suffer a big draw down and get near your stop loss points but turn out
to be a profitable trade, then you can further refine your entry strategy to get in a better price.


Slippage on the Exit – If you get stopped out for a loss, then you write in how many pips you
suffered as slippage, if any. For example if you are long EUUSD at 1.2500 and have your stop
loss at 1.2400 and the market drops and you get filled at 1.2398, then you would write in -2 pips
slippage. In other words you lost 2 pips as slippage. This is important for a few different
reasons. Firstly, you want to see if the places you put your stop at suffer from slippage. If they
do, perhaps you can get better stop loss placement, or use it as useful information to find new
inefficiencies. Secondly, you want to see how much slippage your broker is giving you. If you
are trading the same system with different brokers, then you can record the slippage from each
one and see which has the lowest slippage so you can choose them.


Profit/Loss -You write in the profit and/or loss in pips, cents, points, etc as appropriate. If you
bought EUUSD at 1.2500 and sell it at 1.2550, you made 50 pips, so write in +50 pips. If you
bought a stock at $50 and you sell it at $60, then write in +$10. If you buy the S&P futures at
1,250 and sell them at 1,275, then write in +25 points. If you buy the GBP/USD at 1.5000 and
you sell it at 1.4900, then write in -100 pips. Etc. I color code the box background to green for
profit and red for loss.


Profit/Loss In Dollars – You write the profit and/or loss in dollars (or euros, or jpy, etc whatever
currency your account is denominated in). If you are long $100,000 of EUUSD at 1.2500 and
sell it at 1.2600, then write in +$1,000. If you are short $100,000 GBP/USD at 1.5900 and it
rises to 1.6000 and you cover, then write in -$1,000. I color code the box background to green
for profit and red for loss.


Profit/Loss as % of your account – Write in the profit and/or loss as % of your account. If a trade
made you 2% of your account, then write in +2%. If a trade lost 0.50%, then write in -0.50%. I
color code the box background to green for profit and red for loss.


Reward:Risk Ratio or R multiple: If the trade is a profit, then write in how many times your risk
did it pay off. If you risked 0.50% and you made 1.00%, then write in +2R or 2:1 or 2.0. If you
risked 0.50% and a trade only makes 0.10%, then write in +0.20R or 0.2:1 or 0.2. If a trade went
for a loss that is equal to or less than what you risked, then I do not write in anything. If the loss
is greater than the amount you risked, then I do write it in this column. For example lets say you
risk 0.50% on a stock, but overnight the market gaps and you lose 1.50% on a trade, then I would
write it in as a -3R.


What Type of trading loss if the trade lost money? – This is where I describe in very general
terms a trade if it lost money. For example, if I lost money on a trade and the reason was because
I was buying in a market that was making fresh lows, but after I bought the market kept on going
lower, then I would write in: “trying to pick a bottom.” If I tried shorting into a rising uptrend
and I take a loss, then I describe it as “trying to pick a top.” If I am buying in an uptrend and buy
on a retracement, but the market makes a deeper retracement or trend change, then I write in
“tried to buy a ret.” And so on and so forth. In very general terms I describe it. The various
ways I use are:
• Trying to pick a bottom
• Trying to pick a top
• Shorting a bottom
• Buying a top
• Shorting a ret and failed
• Wrongly predicted news
• Bought a ret and failed
• Fade a resistance level
• Buy a support level
• Tried to buy a breakout higher
• Tried to short a breakout lower
I find this category very interesting and important because when performing trade journal
analysis, you can notice trends when you have winners or losing trades. For example if I notice a
string of losing trades and I notice that all of them occur in the same market, and all of them have
as a reason: “tried to pick a bottom”, then I know I was dumb for trying to pick a bottom five
times in a row. I was fighting the macro order flow and it was dumb. Or if I notice a string of
losers and see that I tried to buy a breakout and it failed five times in a row, but notice that the
market continued to go higher after I was stopped out, then I realize that I was correct in the
move, but I just applied the wrong entry strategy. I should have bought a retracement, instead of
trying to buy a fresh breakout.


That Day’s Weaknesses (If any) – This is where I write in if there were any weaknesses or
distractions on the day I placed the trade. For example if you are dead tired and place a trade,
then write in that you were very tired. Or if you place a trade when there were five people
coming and out of your trading office or room in your house, then write that in. If you placed the
trade when the fire alarm was going off then write that in. Or if you place a trade without having
done your daily habits, then write that in. Etc. Whatever you believe was a possible weakness
that threw you off your game.


That Day’s Strengths (If any) – Here you can write in what strengths you had during the day you
placed your trade. If you had complete peace and quiet, write that in. If you completed all your
daily habits, then write that in. Etc. Whatever you believe was a possible strength during the
day.


How many Open Positions Total (including the one you just placed) – How many open trades do
you have after placing this one? If you have zero open trades and you just placed one, then the
total number of open positions would be one, so write in “1.” If you have on three open trades,
and you are placing a new current one, then the total number of open positions would be four, so
write in “4.” The reason you have this column in your trading journal is so that you can notice
trends in winning and losing streaks. Do a lot of your losing streaks happen when you have on a
lot of open positions at the same time? Do you have a winning streak when the number of open
positions is kept low? Or can you handle a lot of open positions at the same time?


Exit Spread Cost (in pips) – This is optional if you want to keep track of your spread cost in pips.
If you executed a market order, how many pips did you pay in spread.


Exit Spread Cost (in dollars) – This is optional if you want to keep track of your spread cost in
dollars. If you executed a market order, how many dollars did you pay in spread.


Total Spread Cost (in pips) – You write in the total spread cost of the entry and exit in pips.


Total Spread Cost (in dollars) – You write in the total spread cost of the entry and exit in dollars.


Commission Cost – Here you write in the total commission cost that you incurred for getting in
and out of the trade. If you have a forex broker that is commission free and only gets
compensated through the spread, then you do not need this column.


Starting Balance – The starting account balance that you had prior to the placing of the trade


Interest/swap – If you hold forex currency pairs past the rollover, then you either get interest or
need to pay out interest depending on the rollover rates. Or if you bought a stock and got a
dividend then write that in. Or if you shorted a stock and you had to pay a dividend, then write
that in.


Ending Balance – The ending balance of your account after the trade is closed after taking into
account trade P&L, commission cost, and interest/swap.


Reasons for taking the trade – Here is where you go into much more detail about why you placed
the trade. Write out your thinking. Instead of writing a paragraph or two describing my thinking
behind the trade, I condense the reasons down into bullet points. It can be anywhere from 1-10
bullet points.


What I Learned – No matter if the trade is a win or loss, write down what you believed you
learned. Again, instead of writing out a paragraph or two, I condense it down into bullet points. it
can be anywhere from 1-10 bullet points. I do this during the day the trade closed as a profit or
loss.


What I learned after Long Term reflection, several days, weeks, or months – This is the very
interesting column. This is important because after you have a winning or losing trade, you will
not always know the true reasons why it happened. You have your immediate theories and
reasons which you include in the previous column. However, there are times when after several
days, weeks, or months, you find the true reason and proper market belief about why your trade
succeeded or failed. It can take a few days or weeks or months to reach that “aha” moment. I am
not saying that I am thinking about trades I placed ten months ago. I try to forget about them and
focus on the present moment. However, there will be trades where you have these nagging
questions about they failed or succeeded and you will only discover those reasons several days,
weeks, or months later. When you discover the reasons, you write them in this column.
submitted by Fox-The-Wise to Forex [link] [comments]

Are these "young millionaires" real or fake?

Ok, so I want to get into trading as I've been stalking this trader for a while now on social media and honestly it seems too good to be true.
I've done intensive research into his life but I can't quite see why or how he is making so much money... let's start with the basics, he grew up in a city 30mins away from me, he failed school dropped out and apparently started trading at an early age of around 18. Heres where it gets weird: him and 2 of his (what seems like) childhood friends created and owns a company, let's call it "GO-forex" and the company seems to be a signal giving forex company (I'm not sure how it all works) but apparently he sends messages to other forex trades when to make trades. Apparently he does this for free as he gets paid by "another company" to do this as his job.
What's sketchy is the way he recruits people and how the business model works, basically when I asked if I could work for him he said "you need more followers" on Instagram. I looked at his workers, a group of 10-15 people and they all had 5k+ followers on Instagram an continuously keep posting things like motivation, why forex is the best, flexing and importantly, telling people to get on this free forex signals thing. That's how I found out about him, a mutual friend was working for him promoting forex lifestyl and that but suddenly left and became a mechanic... what's also sketchy is that he keeps saying "minimum £300 is what the broker will take for you to start and you can withdraw money at any time" I know a broker gets commission and stuff but whats going on here? He posts daily messages he gets from his customers making £90 or £120 and them thanking him, and his always like "join now!!!". I think the app he uses is metatrader and he always flexes when he makes a lot of pips, making anywhere between £1000 to £7000 profit per day.
He is also constantly promoting his masterclass and shows that he is into real estate investing too. I really have no clue what is going on with this, what's the business model? Does he make more money off the company or trading himself? Is he faking it till he makes it? Is he secretly the broker? Is he stealing his customers money and using it for his own trades? Why does he want to give people signals? Why is his business so reliant on social media? Is he a fraud?
I have too many questions but not any answers. He is living the life I always wanted yet he looks like he hasn't worked hard or isn't that smart....
submitted by AnonymousFlamer to Daytrading [link] [comments]

A Quick List of the Best Forex Signal Service Providers (Paid and Free)

A Quick List of the Best Forex Signal Service Providers (Paid and Free)
https://preview.redd.it/8xclw78vdxt41.jpg?width=294&format=pjpg&auto=webp&s=59181d876b45b3a7b5a7524454f4dae6baf65dfb
Already opened an account and ready to try your luck and polish your skill in Forex trading platforms? In case you are a newbie you have to take support of the expert trader to gain as much experience as possible. Even this will help you to be successful in the long run. But have you ever thought about the ways to start trading?
Probably, following trading style of any experienced trader will be really helpful and saves much energy and time as well. Moreover, you can come to learn several new as well as efficient trading strategies at the same time. Sounds great and pretty simple, right? But the troublesome is regarding the selection of the trustworthy Forex signal service provider.
While you are in trouble this blog is perfect for you! It entails the leading and best Forex trading signal service providers from both paid and free category. So what are you waiting for! Just go through it once to narrow your choice and select the most coherent one to enjoy trading.

1. JKonFX

While you are hunting for a reliable as well as profitable online trading signals provider along with track record there is the team of JKonFX lead by Joel Kruger. This personality has a reputation in this type of trading with about 59.16% of journal performance for the year 2016.
He has offered real-time fundamental and technical insights and that too in an utmost transparency to its 30000 subscribers. Being the lower frequency trader, sending trading alert is only a minor part of this Forex trading signal provider. If it is about comparing numerous options to choose from then you may look for other reliable ones.
  • Verified statistics: Not verified independently
  • Price: $30 monthly
  • Year founded: 2014
  • Suitable for beginners: Yes (including easy-to-follow video updates)

2. Forex Signals

Since its establishment in 2012, it is the top trading signals provider to provide 24-hour accessibility to the trading rooms and that too live. There you get the chance to observe the ways by which experienced trading coaches execute the trade and share the market action whenever it gets revealed in real time.
Besides signal service, it also offers access to the track record of the profits where investment can be made through the managed account. It is only signal provider that owns verified statistics independently on myfxbook. The link is also given to their respective live account of the master.
As it offers everything in such a transparent way, Forex trading by selecting this provider becomes much easier and profitable in the long run.
  • Verified statistics: Yes
  • Price: $97 every month
  • Year founded: 2012
  • Suitable for beginners: Yes

3. DDMarkets

Since May, 2014, DDMarkets (Digital Derivatives Markets) is offering the trading alert services in the form of a detailed document regarding the respective trading ideas in utmost explicit manners. Its procedure is quite simple all you have to do is to perform an extensive research for sharing the analytics while delivering the triggered trading signal.
After its get issued, you will receive daily updates via email. It doesn’t bear floating of the open drawdown to put effort to make profit anyhow. This technique is only followed by the renowned providers for fudging the trading performances.
  • Verified statistics: Not verified independently.
  • Price: plans from $74.40 monthly
  • Year founded: 2014
  • Suitable for beginners: Yes (including easy-to-follow trade analysis)

4. 1000pip Builder

The leading trading signal provider is 1000pip Builder and is one of the few to offer independently verified and tracked results. It focuses on developing potential as well as consistent outcome with little to no drawdown. By following this strategy they are the only one to generate about 6000 pips in just 1 and half years.
Every complicated analytics (key component of the Forex trading) are done by the leading trader Bob. Whenever you take a trade via this trading signal provider, an instant message filled with other crucial pieces of information will be sent via SMS or email. Generally, it includes taking of profit level, stop loss and entry price so that these can be followed by you in an appropriate way.
  • Verified statistics: Yes
  • Price: $97 monthly along with 30% discount
  • Year founded: 2016
  • Suitable for beginners: Yes

5. Traders Academy Club

Previously known as Vladimir Forex Signals, the Traders Academy Club is established in 2011. It offers standard signals which are sent to the traders via a specific Skype group or Email. But primarily it is an online Forex trading education centre.
As there isn’t any verified statistics statistically, it exhibits every previous signal and trade through which comparison will be much easier with your original outcome. Live trading experience and hundreds of educational trading videos are offered via this signal.
  • Verified statistics: No
  • Price: $97 annually
  • Year founded: 2011
  • Suitable for beginners: Yes

6. Forex Mentor Pro

Play every day videos of the team of Forex Mentor Pro for listening into their insights of the market for upcoming weeks and days. Since its introduction in 2008, the team offers the accessibility to 3 trading systems by eradicating the necessity of the performance statistics. But step-by-step guide of the training videos will be posted so that you can attain the much-required speed.
  • Verified statistics: No statistics mentioned
  • Price: from $16.40/month annually or $47/monthly
  • Year founded: 2008
  • Suitable for beginners: Yes (including training videos and systems)

7. Honest Forex Signals

Since 2011, Honest Forex Signal commences offering a trade copier signal service. It has developed a specific page dedicated to the trading statistics that comes with links for displaying the last return on the myfxbook. But it never link myfxbook directly and hence it doesn’t look so independent. However, certain good reviews have acquired by it on the web and several traders comment that its services are quite helpful.
  • Verified statistics: No
  • Price: $177 per month
  • Year founded: 2011
  • Suitable for beginners: Yes

8. Daily Forex

Apart from offering free signals, both video and written instructions are provided by it which makes it unique from others. It will interact with you regarding the ideas under the traders which things are important to look for to enter this market.
Other crucial pieces of information can be also gained on its site. This will be quite interesting if you still stuck to it on completion of trial period.
  • Verified statistics: No-free service offers market feedback
  • Price: Free
  • Year founded: 2006
  • Suitable for beginners: Moderate

9. Baby Pips

This signal provider considers every trader as newbie and so offers detailed information in the “About Us” section. Even the information is really helpful to train the novice Forex traders. Also market signals and analysis is provided by them which can be easily founded under “Pick of the Day” section.
Its main motto is to teach the relevant reasons underneath every decision of trading so that you can become an expert one soon. Signals can be received via their posted blogs on the site via Facebook and Twitter.
  • Verified statistics: No-free service offers market feedback
  • Price: Free
  • Year founded: 2005
  • Suitable for beginners: Yes

10. Forex Peace Army

Though it is popular for the recorded reviews on the Forex yet it offers a few free trading signals as well. It has a set up of its forum style where an article is posted every day filled with detailed instructions on the way to act on every particular bit of news on the basis of the immediate effects.
Even summary of the tradable news is posted on a weekly basis where you can come to know about what is coming up next week as well.
Verified statistics: No-free service offers market feedback
  • Price: Free
  • Year founded: 2006
  • Suitable for beginners: Moderate
These are the best Forex trading signal service providers you can ever find. However, you are not insisted to choose any of them if you can find much better than these then, you are supposed to choose that one. But you should look for a reliable signal provider on the basis of the considerable aspects.
Technical Trading Signals is also there which can be your perfect trading partner as well. Even it offers both automated and manual system of sending notification to the traders via Telegram, Email, SMS and WhatsApp regarding every step of trading.
As it comprises of maximum risk it is not an ideal option for every investor. Every sort of leverage gets against your trading step. You may lose consecutively your investment as well. Financial advice is better to seek before starting trading.
submitted by ttsignals to u/ttsignals [link] [comments]

10 Pips per day forex 10 Pips A Day - Forex Strategy - YouTube 10 Pips A Day  Simple Easy Forex strategy 90+ Wins - YouTube Forex Trading - 10-20 pips a day - YouTube Forex Trading - Scalping For 10 Pips Per Day - YouTube 10 Pips a Day Winning Forex Strategy Revealed! IM Academy ...

175# 10 pips - Forex Strategies - Forex Resources - Forex Trading. 187# 10 pips a day with CCI and MACD - Forex Strategies - Forex. 51# 10 Pips A Day - Forex Strategies - Forex Resources - Forex ... 169# 10-20 pips a day - Forex Strategies - Forex Resources - 3# Inside Day Breakout - Forex Strategies - Forex Resources - BS 10 pips a day Forex Scalping Strategy is a combination of Metatrader 4 (MT4) indicator(s) and template. The essence of this forex strategy is to transform the accumulated history data and trading signals. BS 10 pips a day Forex Scalping Strategy provides an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye. Based on this ... I only try to get 10 pips, and if that’s all I get, then I’m out for the day. It's easy enough to get 10 pips that once that threshold is met, it's okay to get out. When you know that you can turn turn $10,000 into $130,000 in one year on 10 pips a day, it's no longer important to strike back at the market or get greedy on one day of trading. 10 pips per day scalping strategy is a reversal trend trading system simple and clear. 10 Pips Per Day is based only two indicators Stochastic and Bollinger bands. These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. In forex, all you need to fulfill all your goal is to get those 10 pips consistently. This forex strategy is designed to do just that. It succeeds in getting 10 to 20 pips in 98 percent of trades. The 2 percent are just left hanging while strategy continues to open the trades in the opposite direction. You may think that making 10 pips a day is very small profit, but earning 10 PIPS a day can protect your account and also you can withdraw profits regularly. Do not aim for 100 pips per trade, that's impossible every time. My strategy is very reliable, easy and has high rate of winning orders, ie: 95 trades profit out of total 100 trades. My strategy has proven it’s efficiency, enabling many ... The 10 Pips A Day Forex Trading Strategy is a simple forex trading system for beginners and even advanced forex traders.. Must Read: How Fred Made 1 Million Dollars Trading Forex With Only 40 Trades Within 3 Months And You Wouldn’t Believe What Happens Next! Currency Pairs: only the major pairs. Timeframes: 15minutes. Indicators required: 5 ema and 12 ema and RSI 14 with level 50. The 50 Pips A Day Forex Trading Strategy is designed to capture the early market move of GBPUSD or EURUSD but you can certainly experiment with other major currency pairs. It is a pretty simple day trading strategy but remember that many times, the best day trading strategies that work are actually simple in design which can make them quite robust. I think this is a great day trading strategy ... forex forum image Emperor of is there a forex forum for begi... How long does it take to generate 10 pips in forex? Fierra E I am new to trading and I want to generate a least t...

[index] [14936] [3352] [14608] [5428] [20020] [23084] [12975] [3414] [4276] [25290]

10 Pips per day forex

CONTACT: EMAIL 👉[email protected] MENTORSHIP 👉 www.trendtrading.academy INSTAGRAM: JayTakeProfits 👉 https://www.instagram.com/jaytakeprofits/ (... Get forex trading signals with http://www.bkforexadvisors.com, learn to trade forex and get forex trading strategies from Boris Schlossberg Kathy Lien How much we earn if we get 10pips per day trading in forex. forex trading - is forex trading the easiest way to get rich? https://www.mql5.com/en/market/product/35531 Forex trading for beginners can be especially toug... 6 min overview of IM Academy - http://financialfreedommovement.info/im-ready/?id=sjcruickshank Would You Like to Learn a Skill For LIFE???📈📉💰 Forex Trading i... Find out the the truth about trends that "Market Makers" Hope You Will Never Know . . . GRAB YOUR FREE! PDF CLICK HERE http://www.go2pdf.info Best Nade...

http://arab-binary-option.gerslilimaslins.gq