Spread Betting is a form of trading stocks, or any other security by placing your trades on a brokers/bookmakers price rather than the actual market. Trading this way means (in the UK) you don't pay any stamp duty or become liable for capital gains tax on your profits (if there are any!).. But lets get down to the nitty gritty, stocks, indices, forex or commodities, ideas to trade or charts to watch... :) All welcome..
Certainly not what I had planned for and strongly do not recommend others to follow this example but I had to tell someone. GBP/USD 5/27 sold .1 at 1.22465. Immediately went against me. Spotted what I thought was the top and decided to double down. 6/1 sold another .1 at 1.24997. Again, went against me and took off to 1.2800 on 6/10. At this point i'm over $700 in the hole and IG is sending me notes every couple hours to put more money in my account. Entered the trade with just over $1,800 balance. Was ready to let IG close the position and leave me to cry in my beer. Glimmer of hope, late on 6/10 the dollar began to rise but in true roller coaster fashion 6/15 rolls around and the market and the pound decide they miss the altitude and jump back up to 1.2690 on 6/16. Again with another crash sending me into joyous laughter like I knew it all along and I'm staring at actual profit. ....but wait.....can I squeeze out just a few more pips? "No profit for you!" said the pip Nazi. Back to 1.2542 on 6/24 and I'm for sure thinking there is no coming back from the previous bottom. Well, let me tell you my fine, filthy, forex friends. The monetary gods woke me up this morning to a nice little surprise. Despite the DOW, S&P and NASDAQ mult-day losing streak, my take profit was hit at 1.23240 this morning 6/26! I survived to trade again and finally managed to put someone else's money in my pocket to boot! And I'll finish with the immortal words of the wise philosopher Tarek El Moussa "Time to find another [currency] to flip!" https://preview.redd.it/xy4ljxvvha751.png?width=673&format=png&auto=webp&s=cdf13ecb21dbbf6e11d1861b2664f9d656b5ef28
I have been using this method for a while with pretty consistent results. I use 3 pairs on the daily charts (chart time frame is actually irrelevant): EURJPY, EURUSD, USDJPY. This gives me a hedge between the 3 positions. After the opening of Forex trading (6pm EST Sunday) I place both a pending buy-stop and sell-stop order 30 pips away from the opening price for each pair. I place stop-loss at 50 pips and take-profit at 150 pips for each. I also instruct MT4 to use a trailing stop of 500 points (50 pips). That's it. I now wait for 1 to 3 orders to fill and either hit target or stop. If it hits stop I will re-enter a new pending order with the original entry, stop-loss and take-profit values as the order that was just stopped. If my targets are hit... GREAT! If not, at Friday 3pm EST I close all open positions and cancel any open pending orders. Position size for me is 1% of account size on a 50 pip stop loss for each position. Consistent results with literally only a few MINUTES per week of management.
Hi /forex . I want to share my somewhat stupid way in trading. A little background: I am a student in the university, and I like to trade a bit for experience mainly and for some extra cash. My trading technique is a mixture of scalping and extending the SL. I look for 1-2-3 patterns on the 5 min graph, and take small profit multiple times a day, some days i manage to make 6% increase in my equity. If a position goes the opposite way, I just extend the SL. Sometimes it takes one or two weeks before it is closed, but I use that time to relax and focus on studying for my university. The only rule I abide by with forex trading is "take it easy and don't pressure yourself." With my way of trading I am limiting profit and extending losses, something I realize but it is the only way i feel comfortable especially that trading forex is a hobby for me. I use Etoro (I know there a lot of complains about this platform) because I like its mobile trader (I only trade with mobile trader) and its blog.
Hi, I have a small company and have created many videos and docs that I would like my employees to learn from. However, I want to keep track of who has learnt how much (tracking). I might prepare a quick multiple-choice quiz too (like in https://www.babypips.com/learn/forex/different-ways-to-trade-forex). Babypips.com doesn't have video but I have quite a few. I would like it to be hosted in my website that my employees can login. Any recommendation for good free LMS? Please note that I am not monetizing it. I am an advanced technical person - installation, script writing, programming in multiple languages (python, php etc).
Former Imarketslive MLM scammer paid his way to Forbes India claiming to have turned 11k to 1.2million in just 8 days of trading forex and Metals.Now that's a 10000% percent return that too in 8 days.All I'm asking is this the biggest fucking bullshit cap or is this actually can be done?
Here's the post by Forbes India https://www.forbesindia.com/article/brand-connect/19-year-old-trader-awsaf-hossain-is-changing-the-face-of-entrepreneurship-in-bangladesh/63585/1. I know this is paid branding which can be done starting from 250k rupees bout 2.0k dollars ,but ur avg Joe doesn't.He says he wants to make a hedgefund and this and that but ik this dude's a sham.He was involved in a pyramid scheme before despite being from a really rich family. He was in a podcast saying he was broke so that's ur first sign of being al fake self made guy.i personally have no beef with this guy but I think if ppl buy his bullshit he will take their money and run. I wanna know what u guys think bout this 10000 percent return in 8 days shit
Does forex trading make sense for someone with a computer science background as a way to make money on the side?
I'd like to make some money on the side. I have a computer science background. I read the Wiki, but it mostly contained educational resources, whereas I'm wondering "does it make sense to trade forex in my position". I see three possible benefits of trading forex:
I trade forex and get some money on the side
I trade forex, get good at it, then program a bot that trades forex (not sure how profitable this is)
I trade forex and pick up some skills that are useful if I'm investing later on in my life (in tech companies etc.)
I'm trying to weigh trading forex against doing freelance programming work on the side as a way to earn extra money. Hence I arrive at my question: Does forex trading make sense for someone with a computer science background as a way to make money on the side? Is it worth it, given that I want to invest in companies later on in my life? Or should I stick to programming freelancing?
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