FOREX trading general

put €6.4k in crypto beginning of december 2017 ath €25k, felt like a mastermind, then crash to 6k happened and I panic sold to tether the moment my portfolio worth hit 6.4k i.e. my initial. Watched in denial the rally back to 12k and went all-in €6.4k into fucking nano at $18 because some twitter TA guy told me the crash is over. Dabbled into TA started being confident, and got depressed watching my nano stack bleed to €3k worth, so decided to make it back with on bitmex.
I got beginner's luck and 4X just to lose it all to zero in the big april squeeze…
tl;dr I made every fucking mistake possible. I stepped away, fully admitted that I was clueless brainlet and dug myself into books:
Dow theory – markets have cycles, every information is already discounted in price and visible chart,
Wickoff – markets are moved by market operators (investment banks, hedge and pension funds), accumulation-distribution, retail vs operator,
Steve Nison – Candlestick charting and blending with western technicals
Thomas Bulkowski – Chart patterns AND backtesting and success statistic
Mark Douglas – Trading psychology (Trading in the zone),
Risk Management and position sizing
now I am humble, patient and proud that I am now archieving consistent small profit piling up after period of consistent breakeven.
I feel liberated after abandoning the destructive urge of getting rich quick. I realized trading is a marathon not a sprint. My (swing) trading takes me just 1 hour everyday. Itreat trading as reliable side business that generates me few percents every month that are compounding for 1hour of work a day. You need to actually start to like trading and do not have unrealistic expectations. Even if I became a gorillionaire, I will still find this 1 hour a day for swing trading, so why should I hustle and take unnecessary risk by risking more than 1.5% of my capital? No need to hurry, trade right and money will come and compound

I'm proud of you user.

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I also trade forex, what's your take on EURUSD at the moment. On daily it broke huge support 1.15 and now bounced up pretty much fully to 1.162 level and created a nice inverse H&S, plus there was a hawkish talk from chairman Powell, but I'm very unsure what to think about it anymore.

I was bearish when it broke through 1.15 and though it's gonna be a minor retracement up to 1.15 level from 1.13 level.. but now, I don't really know anymore what to think. Will wait out this inverse H&S, if it goes through or bounces off.

>he fell for the meme trading gurus
>he hasnt discovered price action trading
>he isnt an ICT disciple
user youre truly fucked

> with gambling, you can gamble just 100 and make 1000s

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you can literary use 1000x leverage in Forex, while Bitmex allows 100x max for crpyto.

you have no idea what you are talking about. yes, there were new regulations for Eurozone about leverage, but you can open account on IC Markets that is australian based and regulated with 500x leverage.

woah it's not like you interpret everything you learn in trading and see if it works for you or not.

there are hundreds of strategies and it's better to have some knowledge and foundation that go for the 'price action' trading

how about you try out market flow scripts and volume profile based trading huh, ever heard of that?

How people can manage to trade in a hectic, manic atmosphere while sweating in office suit attire? Nightmarish.

I can spend a hours contemplating, researching and meditating on a position.... only to open it and get rekt.

Are Wall St traders generally high IQ or 'in the know'?

you do know majority of traders today only look after and maintain algos right?

>1000x leverage
the difference being that in forex, the moves tend to only ever be a few %. In crypto bitcoin can move 200% in a week. More for altcoins. 200% moves combined with 100x leverage is far more than 1000x leverage combined with 2% movements.

So it's more of a maths / observer position?

>200% in week

we aren't in 6 months of bull run anymore user, even the minor bounces creating lower high from 6k$ -> 12k$ ->6k$->10k$->6k$,.. are 200%

plus you aren't going to get 2% red or green dildo in one minute in forex, since it's too liquid for such drastic changes, unless something drastic changes fundamentally, while BTC can squeeze in either direction for few % for no reason

youtube.com/watch?v=L7G0OfJUON8

That's the beauty of it

yeah volatility creates potential profits, but why would you try to scalp on 5 minute charts with leverage bigger than 10x, when you can just swing trade those swings on daily timeframe and still make insane profits.

You can't use 1000x leverage anymore if you're European. We got cucked hard.

Have you even read the whole sentence dumbass, brokers outside Eurozone can still offer high leverage and you can open account with them, even if you are European.

>E-coins are a SCAM
>Instead go on FOREX, which is known to be an even bigger FRAUD

that's like saying becoming rocket scientist is a fraud, because you are a brainlet

>Actually trying to argue your way out of it
>When FOREX trading websites are a known way mafias scam people
What's next, you gonna post about investing in DIAMONDS ?

Does anyone actually make money on forex? I know little about it. Do most serious traders do it through algorithmic trading and math heavy techniques, or is it mostly observing the news and wondering how it will affect the currency's exchange rate?

>just lose all your money at once more easily goyim

You just got to have a feel about it. It's easy money. Haven't you seen all the ads about it before bitcoins became big?

More seriously, it's a scam ; it's nothing more than gambling.

>all those people in the comment section saying what Anton said is "eye revealing"

Holy shit. How are people this DUMB? That's just Forex. Now imagine all the brainlets that crypto has attracted. No wonder this board has gone to SHIT.

i plan on using GVT to do this.

You can trade Forex with BTC deposits here.
They also have demo accounts so you can test things out first to get your feet wet in Forex.
evolve.markets/r/03dfdee5

You all do know that the top biz discord room has a forex channel don't you?

Forex, options, stocks, business ideas, etc..

Discord.me/xavier

I don't even use more than 10x leverage, unless I scalp some key level and the chart is overextended.

I actually agree with new ESMA rules, since it's gonna protect A LOT of people from losing their money.

Wow actually a nice place, thanks brudda

I fucking hate Anton.

>be me
>double my money with Basic ta
>Anton: ta doesn’t work goyim, use fundamentals and diversify among non correlating assets
>okay.jpg. Lose 80% of my fucking money

No problem. It has helped me learn a fuck ton in TA and fundies.

I happen to know for a fact that most retail brokers cook the data (test this by running a demo account along with a live account on a different IP, that used to get around the filters). Enjoy having candles magically extend to precisely your stops, spreads changing to fuck with your scalps, stop losses or orders "accidentally" not triggering, and there being an issue if you do try to cash out - but that's OK, they credit your account lol. They did this shit and far more 5 years ago when I worked on a certain project for one of these fuckers, and met a lot of others in the industry. Stay away from this garbage, it makes BitMEX look honest.

There are numerous contracts for the purpose

>Basic ta
??? what is ta?

Most of them are very talented commodity traders that also trade futures. Most of the ones I've seen generally trade heavily on price action and on global macro trends. Most people are dumb/new and over leverage themselves with little regard to risk management. Because of this most traders blow up their account and call the whole industry a scam.The 90-90-90 rule is very real phenomenon. FX is also heavily unregulated making it a hotbed for scammers to sell "Courses" for thousands of dollars each where they post a bunch of photos of a rented lambos

You're supposed to use both.
Use fundamentals to determine the major trend and then TA to find entry/exit points for trades only in the direction of that trend, ignore the opposite signals.

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There is literally no consistency of logic to ‘fundamentals’ in this fucking market.

For example, verge was hit with a 51% attack (or something like that) half a year ago. The attacker was able to market dump 100k worth.

And the price actually went up after that for a few days wtf.