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Forex Day Trading #4640104
01/19/18 04:18 PM
01/19/18 04:18 PM
Joined: May 2012
Posts: 2,498
Indiana
Phishin Offline OP
Phishin  Offline OP
Joined: May 2012
Posts: 2,498
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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Re: Forex Day Trading [Re: Phishin] #4640154
01/19/18 05:04 PM
01/19/18 05:04 PM
Joined: Dec 2008
Posts: 2,407
CA
raytseng Offline
raytseng  Offline
Joined: Dec 2008
Posts: 2,407
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.

Re: Forex Day Trading [Re: Phishin] #4640180
01/19/18 05:17 PM
01/19/18 05:17 PM
Joined: Mar 2004
Posts: 20,758
Upstate NY
Donald Offline
Donald  Offline
Joined: Mar 2004
Posts: 20,758
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??


2015 Subaru Forester 2.5 engine/CVT
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Re: Forex Day Trading [Re: Phishin] #4640192
01/19/18 05:22 PM
01/19/18 05:22 PM
Joined: Dec 2009
Posts: 5,044
Tn.
CourierDriver Offline
CourierDriver  Offline
Joined: Dec 2009
Posts: 5,044
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,,,



Re: Forex Day Trading [Re: Phishin] #4640196
01/19/18 05:27 PM
01/19/18 05:27 PM
Joined: Dec 2014
Posts: 1,254
California
Vuflanovsky Offline
Vuflanovsky  Offline
Joined: Dec 2014
Posts: 1,254
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.

Re: Forex Day Trading [Re: Phishin] #4640220
01/19/18 05:42 PM
01/19/18 05:42 PM
Joined: Aug 2011
Posts: 3,345
Chicago,IL,USA
pandus13 Offline
pandus13  Offline
Joined: Aug 2011
Posts: 3,345
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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Re: Forex Day Trading [Re: Phishin] #4640240
01/19/18 06:02 PM
01/19/18 06:02 PM
Joined: Mar 2014
Posts: 3,268
NJ
Leo99 Offline
Leo99  Offline
Joined: Mar 2014
Posts: 3,268
NJ
I tried it but it wasn't for me. I had more fun with DWTI and WTI.


Without data you're just another person with an opinion. W. E. Deming

2003 Corolla 250,000 miles
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Re: Forex Day Trading [Re: Phishin] #4640310
01/19/18 07:12 PM
01/19/18 07:12 PM
Joined: Sep 2015
Posts: 873
California
mbacfp Offline
mbacfp  Offline
Joined: Sep 2015
Posts: 873
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.


2014 F-550 PSD..........M1 Delvac ESP 5w-40 + OEM
2018 Dodge Charger SRT Hellcat
2012 Toyota Sienna LTD 3.5L V6
2003 Dodge Durango R/T 4x4 5.9L V8
Re: Forex Day Trading [Re: Phishin] #4640331
01/19/18 07:30 PM
01/19/18 07:30 PM
Joined: Jun 2009
Posts: 429
New England
555 Offline
555  Offline
Joined: Jun 2009
Posts: 429
New England
Look into the tax liabilities. Talk to an accountant.


84 XJ6 M1
92 Mustang 5.0 Redline
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99 MX5 Miata Anniversary Edition M1
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Re: Forex Day Trading [Re: Phishin] #4640339
01/19/18 07:40 PM
01/19/18 07:40 PM
Joined: Aug 2008
Posts: 3,167
USA
Reddy45 Offline
Reddy45  Offline
Joined: Aug 2008
Posts: 3,167
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?

Re: Forex Day Trading [Re: Phishin] #4640358
01/19/18 07:56 PM
01/19/18 07:56 PM
Joined: Sep 2015
Posts: 873
California
mbacfp Offline
mbacfp  Offline
Joined: Sep 2015
Posts: 873
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.


2014 F-550 PSD..........M1 Delvac ESP 5w-40 + OEM
2018 Dodge Charger SRT Hellcat
2012 Toyota Sienna LTD 3.5L V6
2003 Dodge Durango R/T 4x4 5.9L V8
Re: Forex Day Trading [Re: Phishin] #4640363
01/19/18 08:00 PM
01/19/18 08:00 PM
Joined: Sep 2004
Posts: 21,634
Orlando, FL
Mr Nice Offline
Mr Nice  Offline
Joined: Sep 2004
Posts: 21,634
Orlando, FL
I'm more of a QQQ type of investor...

Re: Forex Day Trading [Re: Phishin] #4640365
01/19/18 08:03 PM
01/19/18 08:03 PM
Joined: Sep 2015
Posts: 873
California
mbacfp Offline
mbacfp  Offline
Joined: Sep 2015
Posts: 873
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.


2014 F-550 PSD..........M1 Delvac ESP 5w-40 + OEM
2018 Dodge Charger SRT Hellcat
2012 Toyota Sienna LTD 3.5L V6
2003 Dodge Durango R/T 4x4 5.9L V8
Re: Forex Day Trading [Re: Phishin] #4640366
01/19/18 08:03 PM
01/19/18 08:03 PM
Joined: Sep 2015
Posts: 873
California
mbacfp Offline
mbacfp  Offline
Joined: Sep 2015
Posts: 873
California
QQQ great holding...own myself and for clients.


2014 F-550 PSD..........M1 Delvac ESP 5w-40 + OEM
2018 Dodge Charger SRT Hellcat
2012 Toyota Sienna LTD 3.5L V6
2003 Dodge Durango R/T 4x4 5.9L V8
Re: Forex Day Trading [Re: Phishin] #4640459
01/19/18 09:32 PM
01/19/18 09:32 PM
Joined: Feb 2016
Posts: 520
GA
miden851 Offline
miden851  Offline
Joined: Feb 2016
Posts: 520
GA
individual stocks mainly here


2008 Mazda6i GT; @202K miles
2016 Honda CR-V EX-L; @33K miles
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