Hello everyone, I'm new to the game and I like mostly the scalp strategy . I scalp about 30 times a day with fixed lot size and I can almost make my virtual account break even. But no profits actually. I really want to learn something to improve my game . Is there any good stuff on YouTube that you guys could recommend for me to watch and hopefully I can therefore improve my game level? Many thanks !
Hi guys. I'm basically new to trading forex despite studying for 10 months, I feel like I'm a no good trader. Just a small background, I tried to trade on real account after 4 months with a trading plan I copied from a forex guru and I lost 25% of my $100 in 3 months (very small account just to test my psychology). I decided to study again with the help of babypips and started demo trading 2 months ago by constructing my own trading plan which is based on trend/range trading. My problem is, I feel like I'm super playing it safe in trading. I've only had 4-6 trades in a month and an average win rate of 83% having 100-150 pips gain. I am currently looking at H1 and H4 timeframes. Do you think having 4-6 trades a month is a very small frequency given that i look at H1/H4 charts? How often do you guys trade for those who look at H1/H4 charts? Is there any advice you can tell me which will improve my trading frequency? Thanks for taking the time to read and response on this post.
Recently I've found out on of my neighbours is a forex guru. I understand that these are mostly scammers. He drives a new lambo and has a 160k g-wagon. I'm sure he's leveraged up to his neck but seems to be popular. In his early 20s he's "teaching" people over twice his age, and they happily give him 1000's for the trouble. This got me thinking. What if someone were to create an actual useful non-scam financial course. Teaching best practices for personal finance. Touching on topics of forex, stocks etc. But without the promise of get rich quick. Why has nobody done this?
Hey, guys! Beginner trader here. I'm trying to ease myself into this and I want to make sure I have plenty of opportunities to make mistakes, and learn from them. Right now, I'm struggling to understand leverage; I see how risky it is, and I understand how to calculate it, but I don't understand how that effects my actual account. So if anyone can explain what I can expect here, I would appreciate it. So I have an account with Hugo's Way. I use Bitcoin for my account, so my initial deposit was .005 BTC ($50, for argument's sake), but I added another .01 BTC ($100) before I did any trading. So my account started at a total of .015 BTC ($150), and I chose a leverage of 1:50. Due to my inexperience, I proceeded to lose about .001 BTC ($10). After consulting my teacher, who isn't exactly a forex guru, I was told to change my leverage to 1:500, and I did so, thinking it was safer, which in hindsight probably wasn't where my teacher's mind was. Afterward, through a mix of trades that I can learn from and some genuine bad luck, I lost another .001 BTC ($10), leaving my account with .013 BTC ($130) remaining. So I decided to refresh my understanding of leverage, and by my calculations, I should owe 5.05 BTC ($50,500)... Yikes. However, I see no indication that someone is looking to collect or sue my pants off. So my calculations must be way off, but what am I getting wrong? I was thinking my broker would ask for reimbursement if I closed this account. But I read somewhere that it's calculated during my trades, so it's the big red or blue number I see next to my pips, meaning it's the same as my net profit. I've even read one top answer saying the broker doesn't care! I think I'm overreacting, but before I continue trading, I need to ask: how screwed am I really?
Victor Ang (Alg0insight) (Sell you Expensive EA and cahoot with broker to earn from you Gao Gao)
Recently, his website (https://algoinsights.com/who-we-are/) came up again and he is trying to sell his algo and trading services, this is after he told his past clients that he was RETIRING for good. Regards to his past clients, he made promises that this algo can 1. make lots of $ and 2. can run 100% automatically but when the market went through much trending due to Brexit and other major events, he left clients to figure out what to do, even asking them to manual close trades when they are already not profitable, leading to many clients having significant losses and getting their life savings wiped out. He closed his FB page, FB personal page, website when clients ask why their losses were escalating. At the end of it all, he even blamed clients for their losses when his algo FAILED TO DELIVER. And now after letting down so many clients with his empty promises, he still dare to come back to the market by reviving his website. But notice now he dare not put up his photos anymore. Why? If you wonder who is this Victor Ang, this is his picture. Victor Ang - Algoinsight - Forex Algo that will help you lose $ Past clients, you are welcome to add on your story, we must not let scammers continue to scam others. If you're considering to invest with Victor, PLS DON'T, you will regret for life. To be fair to the Forex market, yes you can make money from it but you need to be skilled and well researched.
Just recently been looking into forex. Learned on baby pips and went on to try my hand at trading gold starting with 100$ using a 1:100 leverage. Is it honestly possible to produce a gnarly income doing this? And if so any advice or strategy info. Day trading is something I’ve always wanted to do and since my campus is closed due to the virus and I’m stuck with my parents again I’ve been trying to develop some standing group without the use of a “Instagram forex guru” charging large amounts for advice you never really know is real. 23y/o.
Forex "educators" getting a job in investment banks.
Hi, I am really curious about what are experienced investment bankers and everyone's thoughts about these Forex gurus getting a job in investment banks as a hedge fund trader. Note that I'm not a "Forex guru" just a regular trader being curious about the question. Let's give it a scenario, a "Forex guru" has a lot of experience in educating new traders/all kinds of traders. He has built a huge network with other "Forex guru" and has been educating traders about Forex trading, indicators, technical analysis/fundamental analysis etc etc. Is there a chance that this "Forex guru" with a huge portfolio ever get a job in investment banks as a hedge fund trader? What would an investment bank think about such portfolios?
So Darn Easy Forex - I think its a scam but not sure
Hey guys so ive been prowling the internet in search of all things forex and i came across this guy on youtube called Yusef Scott. Every trade he makes, he wins, and he wins big. Were talking 20-100k a trade in profits. All his videos are very watered down and just talks for the sake of talking. He doesnt actually spill any information. However he does show befores and afters of trade alerts he gives out to the public for free which are legit. Anyways he sells training programs that he claims thousands of students praise. All his reviews on his website are obviously fake and paid for. I mean, they all are those stockphoto type of people leaving ground breaking reviews saying how this program made forex easy to understand and how Yusef has changed their lives. BUT. Outside of all his reviews which youll find on his site, you wont find a single review on another website that reviews these trading programs. You will only find reviews of his product on his page. Other than that, hes a ghost. He has an instagram and all that, but its the same watered down motivational garbage that every godly forex guru uses to try and sell you their product. Its really fishy but i cant quite say 100% that its a scam, but im like 90% sure its another fish in a sea of forex education scams. Thoughts? Let me know what you guys think!
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I've seen mentions of Nick Shawn & Momo Forex here; Here's why i don't like them...
I want everyone who searches these people to see this on forex cuz this is the truth they need to see! Hopefully it will save alot of traders throwing money at these fools! Look listen i got both of their courses for free from a website i found a download. Nick & Momo charge 1k per course for terrible content & i lost a little respect for nick & momo as momo convinced nick to make a signals group which nick pledged never to do! That Group makes 70k a month from it; it's called LevelsFX also these guys both have full courses 1 each that sell for over 1k and nick and momo's excuse for doing LevelsFX was ppl were re-selling their courses and they had to get a legal team and pay 4-5 figures a month to take down few small time course re-sellers on Instagram Look listen i got both of their courses for free from a website i found a download they charge 1k per course for terrible content & i lost a little respect for nick & momo as momo convinced nick to make a signals group which nick pledged never to do! That Group makes 70k a month from it; it's called LevelsFX also these guys both have full courses 1 each that sell for over 1k and nick and momo's excuse for doing LevelsFX was ppl were re-selling their courses and they had to get a legal team and pay 4-5 figures a month to take down few small time course re-sellers on Instagram which is obvious BS + Nick would keep on changing the number he said he needed to pay every month etc obvious liar and taking. Advantage of his audience like any Guru. The real reason they started this service is because the courses weren't paying and that's how they make their money and live trading profits etc. Can easily be faked look here:which is obvious BS + Nick would keep on changing the number he said he needed to pay every month etc obvious liar and taking. Advantage of his audience like any Guru. Search: Gurus MT4 Exposed on Google or Youtube for more info Don't buy a Guru's course if you can download it for free not seen one yet that's worth it! ~ Never have bought a course! Site i used was Coursed co and searched LucidFX (Still available for download) & MissionFX I don't like Gurus i hate them & I have to say Nickshawnfx has let me down in the past and I'm seeing many mentions of them on forex . As you know no-one without a third party verified track record (real server data from a well regulated broker) can be trusted. So pretty much no-one in the FX industry can be trusted. Edit: Mistakes fixed etc
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Young A Mo - FOREX GURU Lifestyle of a Trader South ...
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