As they say a lot out there, Forex is a market in which we do not have to operate with commissions, but we can do it without the need for them, as if they were bad. The best way is to buy some of the most popular European stocks like Adidas or BMW, or even buy government bonds, like German ones. The ONLY exception is bank holidays when markets are either closed or illiquid with little trading activity. We often refer to trolls on this subreddit as shitcunts. You are going to find that this subreddit is frequented by trolls.
Forex is a market that allows unrestricted short trading as it is one of the basic features of currency trading. What is different in equities is when we trade the spot markets with a traditional broker. Second, the broker may not charge classic commissions, but they will charge you the cost of the spread, which is nothing more than a different type of commission. First, the broker that does not charge commissions is almost certainly a market maker . That is, in that case you are negotiating directly against the broker. Something that I would not qualify as a market with a “high volume” or “high liquidity”.
Do not mess with a lot of money because in the end we will most likely pay dearly for it. That is why I recommend that we start with the smallest possible amounts and that we try to learn that way. That way, if things don’t work out as expected, in the end we will have lost less money than if we started trading with large amounts.
- By using Forex Reddit effectively, traders can enhance their skills, make better-informed decisions, and ultimately improve their trading performance in the forex market.
- Many veteran traders, like me, end up swing trading more than day trading (which I also do, but less).
- There are several subreddits dedicated to forex trading, such as r/Forex, r/ForexTrading, and r/Daytrading.
- Members can also post their trading journals, which can be a valuable tool for tracking their progress and identifying areas for improvement.
- In the groups, you can participate in discussions, ask questions, and share your trading experience.
- News events such as political turmoil, natural disasters, and trade wars can also affect the forex market.
This subreddit is dedicated to forex signals, which are alerts that traders receive when there is a potential trading opportunity. Members can share their signals and discuss the best strategies for using them. In forex trading I see there is very small variation in price. There’s maybe 1% change up or down on average hence you would need to put a lot of money on to see and worthwhile profit.
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With regards to technical analysis, you need to really understand what the different indicators are tell you. It’s very easy to misinterpret what an indicator is telling you, which causes you to make a bad trade and lose money. It’s also important to understand that every indicator can be tuned to your personal preferences. Insane to the point that your broker can’t keep up and they can’t hold your orders to the SL and TP levels you specified. Never risk more than 1% of your account on any trade until you can show that you are either consistently breaking even or making a profit. You do 200 trades over a period of time and either break-even or make a profit, then you should be alright to increase your risk.
The forex market is the largest financial market in the world, with an average daily trading volume of over $5 trillion. The market operates 24 hours a day, five days a week, and is accessible to traders around the world. News events such as political turmoil, natural disasters, and trade wars can also affect the forex market. These events can cause volatility in the market, which can affect the value of currencies. Traders need to stay up-to-date with the latest news events to make informed trading decisions. Many veteran traders, like me, end up swing trading more than day trading (which I also do, but less).
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Members can also post their trading journals, which can be a valuable tool for tracking their progress and identifying areas for improvement. Another resource that traders use on Reddit is news and market analysis. Traders can stay up to date with the latest news and events that can impact the forex market. Reddit provides access to various news sources such as Reuters, Bloomberg, and CNBC.
In addition, there are also many brokers that do not charge commissions on stock trading; or rather, in trading CFDs on shares. Geopolitical events such as elections and wars can also affect the forex market. These events can cause uncertainty in the market, which can lead to volatility in the value of currencies. Traders need to be aware of geopolitical events and their potential impact on the forex market.
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But just like how 95% of retail traders fail, I would estimate the same is true for forex bots. Either the strategy doesn’t work, the code is buggy, or many other reasons can cause EA’s to fail. Save yourself and everybody here a bunch of time – learn the basics of forex. So let’s use an example – you open a 0.1 lot short order on USDCAD and set the SL to 50 pips (so you’d only lose $50 if you hit stoploss). An hour later Trump makes some absurd announcement which causes a massive fundamental event on the market.
You can also learn from experienced traders who are members of the group. The goal of forex trading is to make a profit by buying a currency when it is undervalued and selling it when it is overvalued. One of the most popular subreddits for forex trading is r/Forex. This subreddit has over 120,000 members and is a hub for traders to discuss everything related to forex trading. Members share their analysis of the market, trading strategies, and news that could affect the forex market. Trading tools are essential for forex traders, and Reddit provides access to various trading tools.
What factors contribute to forex trading profitability according to Reddit users?
Each has their pros and cons, and you can combine them in a somewhat hybrid methodology but that introduces challenges as well. Risking 5% means you are willing to lose $100 per trade. The reality is that very few people make it big in forex or any kind of trading. If somebody is trying to sell you the dream, they are essentially a magician – making you look the other way while they snatch your wallet and clean you out. In this case, the shares win by a landslide in swing trading or medium-term trading, even remaining closed at night.
What to look for in a forex broker?
These sessions are hosted by experienced traders who are willing to answer questions from other members. The AMAs cover a wide range of topics, including trading strategies, risk management, and https://forex-review.net/ psychology. They are a great way to learn from experts in the field and get advice from experienced traders. Forex Reddit also offers educational resources for traders who are new to the market.
Following experienced traders is an excellent way to learn forex trading. You can learn about their trading strategies, risk management techniques, and trading psychology. You can also ask them questions and seek their advice.
These tools include forex calendars, charting tools, and trading platforms. Forex calendars are used to keep track of upcoming economic events and news releases that can impact the market. Charting tools are used to analyze price movements and identify trading opportunities. Trading platforms are used to execute trades and manage positions. Forex trading can be a complex and challenging market to navigate, especially for beginners. With so many factors to consider and decisions to make, it can be overwhelming to try and develop a successful trading strategy.
Forex traders use various strategies to make their trades, such as technical analysis, fundamental analysis, and sentiment analysis. The forex market is influenced by many factors, including economic data, news, and geopolitical avatrade review events. Traders need to stay up-to-date with the latest news events and market trends to make informed trading decisions. Reddit has many experienced forex traders who share their insights and strategies on the platform.
One of the standout features of Oanda is its competitive spreads. The broker offers tight spreads on major currency pairs, starting from 0.6 pips on EUR/USD. Oanda also has a transparent commission structure, with no hidden fees or charges. This is not to say that you can’t day trade stocks, but we’d better use larger accounts and know what we’re doing. The stock markets are only open during the day in their respective countries, usually from 8 to 4 in the afternoon.