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#4640104 - 01/19/18 03:18 PM Forex Day Trading
Phishin Offline


Registered: 05/01/12
Posts: 2429
Loc: Indiana
Anyone here invest much in the Forex market?

I have a few friends who do. So I decided to watch a bunch of videos, read as much as I can, and talk to as many people as I can.

This past week, I opened up a "Demo" account with a broker. I've been playing making trades based on what I've learned so far. I started the "Demo" account with $2000, and with a 200:1 leverage. This week I've made about $1000 in make-believe money.

I'm a trying to learn technical trading. Most of my positions that I take in the market are held from 10 seconds to maybe an hour.

Anyone here dabble in Forex?
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#4640154 - 01/19/18 04:04 PM Re: Forex Day Trading [Re: Phishin]
raytseng Online   content


Registered: 12/11/08
Posts: 2339
Loc: CA
you need to compare your alpha though. If you just dumped that same position into sp500 or total stock market for the week you probably also would've been way up too with less work.

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#4640180 - 01/19/18 04:17 PM Re: Forex Day Trading [Re: Phishin]
Donald Offline


Registered: 03/21/04
Posts: 20457
Loc: Upstate NY
Invest for the long term in index funds.

You buy on leverage a ton of shares to make a nickel a share and then get out. Could easily go the other way.

If the highly paid fund managers with lots of staff cannot always pick good stocks to buy, what makes you think you can??
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#4640192 - 01/19/18 04:22 PM Re: Forex Day Trading [Re: Phishin]
CourierDriver Offline


Registered: 12/27/09
Posts: 4943
Loc: Tn.
Originally Posted By: Phishin
Anyone here invest much in the Forex market?

I have a few friends who do. So I decided to watch a bunch of videos, read as much as I can, and talk to as many people as I can.

This past week, I opened up a "Demo" account with a broker. I've been playing making trades based on what I've learned so far. I started the "Demo" account with $2000, and with a 200:1 leverage. This week I've made about $1000 in make-believe money.

I'm a trying to learn technical trading. Most of my positions that I take in the market are held from 10 seconds to maybe an hour.

Anyone here dabble in Forex?
Tried this about 6 years ago...when you invest in the say dollar/yen for example, be sure you put in upstop or down stops so if you start to lose money, your stops will close you out and you will not lose so much...never invest more then 2 to 8 percent of your money, you will last longer and not go broke...I made some money, but finally after a year lost it all,,about 1500 dollars, to many variables around the world can shake you down,,there are 1000 of variables, ,read all you can, and there are webinars you can get into..its a big boys game,,,stocks are better if you have the money..good luck ...just be careful with your budget,,,
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#4640196 - 01/19/18 04:27 PM Re: Forex Day Trading [Re: Phishin]
Vuflanovsky Offline


Registered: 12/15/14
Posts: 1168
Loc: California
I was interested in forex trading several years ago but a knowledgeable friend said that anyone seriously attempting this should take at least two years to learn ( in a virtual context ) and educate yourself before putting yourself in a position where one bad trade can potentially wipe out most of what you have. I don't think trading currency movement is for me.

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#4640220 - 01/19/18 04:42 PM Re: Forex Day Trading [Re: Phishin]
pandus13 Online   content


Registered: 08/12/11
Posts: 3199
Loc: Chicago,IL,USA
Did this about 8 years ago.
Had about $1,000 split into 2 500.
This was learning money for wifey. (had a friend with lots of time who did well)

A new baby and a crazy market does not make for good research time tough.

Both money evaporated when the market went down, and even with the stop orders, somehow it/software got stuck and we saw the money evaporating...

Did I tell you my first paycheck was $100? {insert sad face}
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#4640240 - 01/19/18 05:02 PM Re: Forex Day Trading [Re: Phishin]
Leo99 Offline


Registered: 03/30/14
Posts: 3044
Loc: NJ
I tried it but it wasn't for me. I had more fun with DWTI and WTI.
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#4640310 - 01/19/18 06:12 PM Re: Forex Day Trading [Re: Phishin]
mbacfp Offline


Registered: 09/02/15
Posts: 837
Loc: California
It is more trading than "investing". I use options in conjunction with the futures to limit downside risk. Delta neutral trading...don't have to guess which direction. Can be safe just make sure you use options to set the parameters of the profit / loss profile. Can wipe your funds out quick if not careful.
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#4640331 - 01/19/18 06:30 PM Re: Forex Day Trading [Re: Phishin]
555 Offline


Registered: 06/08/09
Posts: 372
Loc: New England
Look into the tax liabilities. Talk to an accountant.
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#4640339 - 01/19/18 06:40 PM Re: Forex Day Trading [Re: Phishin]
Reddy45 Offline


Registered: 08/15/08
Posts: 2969
Loc: USA
This is basically buying different monies and then reselling those monies when the exchange rate nets a profit right?

I know there is a high speed version of this that is done with algorithms, but can this be done slowly by an individual and still net a profit?

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#4640358 - 01/19/18 06:56 PM Re: Forex Day Trading [Re: Phishin]
mbacfp Offline


Registered: 09/02/15
Posts: 837
Loc: California
Yes, I don't compete on the day trading level. I am looking for trades 1-3 Months out. That is were I am able to make some money. Been doing this since 16 years old. I use spread sheets to calculate Thetas, Deltas, etc. Secret is to understand your risk each and every trade. Need enough volatility either direction to be successful at Delta Neutral Trading.
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#4640363 - 01/19/18 07:00 PM Re: Forex Day Trading [Re: Phishin]
Mr Nice Offline


Registered: 09/12/04
Posts: 21196
Loc: Orlando, FL
I'm more of a QQQ type of investor...

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#4640365 - 01/19/18 07:03 PM Re: Forex Day Trading [Re: Phishin]
mbacfp Offline


Registered: 09/02/15
Posts: 837
Loc: California
Good read to learn technicals. John J. Murphy's "Technical Analysis of the Financial Markets". First book I ever read on investing. I rely on technicals for everything personally and professionally.
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#4640366 - 01/19/18 07:03 PM Re: Forex Day Trading [Re: Phishin]
mbacfp Offline


Registered: 09/02/15
Posts: 837
Loc: California
QQQ great holding...own myself and for clients.
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#4640459 - 01/19/18 08:32 PM Re: Forex Day Trading [Re: Phishin]
miden851 Offline


Registered: 02/15/16
Posts: 433
Loc: GA
individual stocks mainly here
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