Is there anyone here that’s been trading forex for a year or more with more than 50% net gains?

Is there anyone here that’s been trading forex for a year or more with more than 50% net gains?

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Source?

Yes i trade forex what do you want?
I only trade against the usd, usually nzd, gpb, chf and very rarely ill trade the cad usd. I stay from Euro tho theres just too much to think about there

I just want to know if you’ve made above 50% profit and what times trading is open. Also how does the end of the trading day influence the way you trade?

forexshit is pretty questionable IMO

Last year i was at 70% profit but this year is a bad year with all the noise going on in America at the moment and the trade war delegations isnt making things much easier.
End of trading day doesnt effect anything much, its usually before the weekend you want to close our your trades if youre not comfortable with them or if theres news coming out the early in the following week.

Easter friday was a quiet day with no volume so i used only really small margins, and i suspect monday will be the same.
In nz trading opens 11am monday and finishes 11 am saturday

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If I decide to start trading it, I’m only going to trade the oscillations and not the breakouts because I think they’re more predictable? Is that what you do?

Ive been trading forex for many years and the last few years have been very profitable.
I routinely make 5-15k per week.
Once you understand how it works, its literally a fountain of money. I stay away from cryptos...too manipulated and wholly unpredictable on a short term basis.
I failed at forex for the first couple YEARS (let that sink in). But I became more focused on money and time management, daily trading and overall personal discipline. Most people under 30 don't have the overall discipline to succeed in forex...get too aggressive and lack overall discipline, but if you put time into it, you can become wealthy like I am.
Best part? Ever hear that phrase about feed a man or teach him to fish? Well, once you see how forex works and realize you can literally trade anywhere in the world on your phone, you realize you can become a master fisherman, completely away from the wageman.
Feels REALLY good man.

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I dont suggest relying on indicators because in forex trading theyre not always reliable, maybe if youre scalping. Things like the RSI and whatnot are more reliable in share trading but they can apply to forex sometimes.

Look at this for example, if you were relying on the rsi or the stochastics to tell you when the market was going to go back down you would have got severely burnt, several times.
Its crucial to pay attention to the news and how economies are doing and what not, that massive rally was basically the start of the weakening of the American dollar and NZ also improving since we have a new prime minister turning shit around.
Honestly im a bit concerned about my short position but its only small and ill see how things look on monday when america comes back online.

This is only a hobby for me but forex trading can be hugely profitable if youre sensible

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I wouldn’t have gotten burnt because I would have closed my position at the top of the Bollinger band before it broke out. That’s what I mean by trading only the oscillations.

You inspire me. Do or did you have a day job?

Ive told my story a few times on this site so forgive me if you heard it before.
Back in 2006 I went to prison for 2 years...involved taking and selling drugs...stupid shit Im ashamed of now but it is what it is. I had a white collar job and when I got out of prison in 2008, I couldnt go back to working in my field with a felony as well as the job market was absolutely horrible at the time. I was living on my ex-wife's couch and had to have a job otherwise I'd be sent to a halfway house (no fucking thank you)...so I got a job driving a taxi (it was literally the only job I found in a month and I looked everywhere but no one wanted to hire a newly released felon).
A co-worker of mine showed me forex and how he started with a hundred dollars and turned it into a thousand dollars in less than a month...i decided to try since I knew a bit about trading but never did it aggressively. For the first few years, i didnt quite grasp it, but i kept at it. I made smaller and more frequent trades...I didnt max my leverage and started to accumulate money. Its very doable if you put time into it and realize virtually everybody fails at first. Stay away from this crypto shit...too manipulated.

it's not possible to make money trading forex as a retial investor. anyone who thinks they are are just getting lucky.

What country are you from? You should trade on a foreign account to avoid tax thats what a mate of mine is australia does.
Hes a NZ citizen but he lives in Australia but he trades on a NZ forex account, since we dont have a capital gains tax, every time he visits nz he just takes out a small margin of his gains before he leaves. Pretty smart desu

You have some misconceptions about all of this

I'm in the US.
I pay every cent of taxes due...I have an accountant and tax attorneynow and the providers email me statements of trade every month...I print them out along with my bank statements and hand that to them and they figure my taxes...mine are due in a few weeks and my taxes are over 140k, but I pay them quarterly now to avoid a big hit. I make more than enough to live well and pay the taxman. 've learned over time to live below my means and the last thing I want as a convicted felon is to have the IRS coming down on me and make an example of. Get that 'avoid tax' mentality out of your head..thats poisonous. Do it right!

Yeah ...absolutely no one makes money in the markets.
Love always,
We Crypto Traders

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Does that mean I have to take cash with me to nz and deposit it in an account while I’m there?

it's possible to make money in the markets. by investing in good stocks (or cryptocurrency) you can make money. if you buy bonds you'll make small returns over time

but forex? you wont make money there. the price you see on screen is essentially the fair price of that currency given all information available. you just lose what you pay in fees.

Yeah i dunno about that tax debate. This side of the world may be different but in Australia and NZ Middle classed people get taxed more than upper classed, which is complete bs, and things dont get easier for them. The cost of everything is going up, mortgages, groceries petrol, yet taxes on the rise aswell and only the rich can afford to live which is why i got started with investing.
Weak argument maybe but thats why id avoid taxes anyway i can.

Im not sure how it works for you if youre from the US but maybe another country closer to you.
My friend is a NZ citizen so he could open an account no problem, what i was saying if he decided to do it with an australian forex provider they would be taxing him, which is why he doesnt. Hes basically taking advantage of a small loophole in the system

So what if it’s a fair price? It still goes through daily oscillations that you can make money off

Yeh, I’m a dual Aus NZ citizen but have lived in Aus my whole life. I already have an nz bank account too

how would you make money from these oscillations?

Roberta Gemma

With leverage

Then youre golden, open an NZ forex account and trade through them with your nz bank account.
If youre traveling back the fourth the max amount of money you can take with you is $10000, anything more and you have to declare it.
Forex also offer international transfers so you can transfer money from your nz bank account to your aussie one and vice versa to avoid the banks ridiculous fees,
Back in 2016 i had 20k in an aussie bank account and the banks wanted 2 fucking grand just to transfer it for me, i contacted forex and they did it for a small fee of 300 or so.

Ive made over two million dollars over the past 5 years in retail forex...its tough but doable.
Yeah you can invest in stocks, but thats super tough to make a living in just by trading them. As far as 'investing' in cryptos, you must not be paying attention much unless you're super aggressive at shorting.
You're so jaded with all these larpers and shills to realize that YOU have to put time in so YOU can become a success at what you do, whatever it is.Give retail forex 1 year...commit to making 3 trades per week, using no more than 2% of your capital per trade. Give it a try and commit yourself to success...you might be (pleasantly) surprised. A year from now you will be a year older, so gain a years experience in trading and it'll pay off in the end.

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What’s the maximum leverage you can trade with?

yeah no, forex is shit.

Your attitude is your undoing. Sad!

I have 5 accounts. Two large and 3 micro accounts. I have one with FXGlory that has 3000:1 leverage. My large accounts are the standard 50:1.

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shill

Would you need to be trading with at least 100x leverage for it to be worth the effort if your capital is around 10k? Because looking at the hourly oscillations it’s only around a tenth of a percent

lol

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>i need to double my money every 10 hours
the absolute state of forecucks

If youre trading with 10k or more, 50:1 leverage should be your ABSOLUTE max. If you want higher leverage, use very small amounts in case you make errors and get blown out. That alone was my biggest stumbling block...make your trades small at first and work your way up.

Well I’d want at least 2% per hour of my time since that’s only 200 dollars an hour if you have 10k capital meaning it would have to be 20x margin at bare minimum.

If I had 10k to work with, I'd be looking to make 4 to 5 hundred dollars a week. Your thinking is all wrong and you need to get that way of thinking out of your mind. You'll be too aggressive with your trades and one bad trade will blow you out. Baby steps.

I wouldn’t be confident leaving my money in for a breakout which it’s bound to do over such a long span of time. That’s why you’re better off doing high leverage short trades.

Why is aud usd so untradable?

Looking forward to the GVT app then. Choose your trader with a track record - ??? - Profit!

If thats your style, so be it. But that way will eventually catch up with you and defeat you. I 100% guarantee it. That 'get rich quick' mentality is what gives forex a black eye.

I trade it often and squeeze 15-20 pips a day out of it...it's rangebound and just adjust your trade style accordingly. At 1/2 lot ($5/pip) thats a couple hundred dollars a week. If thats not your style, there are others to choose from.

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It’s not because I want to get rich but because that’s the only time frame with a greater than 70% predictability