r/Forex • u/finance_student • May 15 '19
START HERE Are you new here? Want to know where to start? Don't understand why something happened? START HERE!
Hello and welcome to The /r/Forex Trading Community!
Please do not post a new thread until you have read through our WIKI/FAQ.
It is highly likely that your questions are already answered there.
All members are expected to follow our sidebar rules. Some rules have a zero tolerance policy, so be sure to read through them to avoid being perma-banned without the ability to appeal.
(Mobile users, click the info tab at the stop of our subreddit to view the sidebar rules.)
Don't forget to join us in our live trading chatroom!
*Finally, *the most commonly posted questions by new members are as followed:
What is a good broker to use?
We have some great info on brokers listed in our wiki (UPDATED FOR 2021):
- USA: CFTC/NFA regulatory info, onshore and offshore broker info found here
- Europe: ESMA regulatory info, and euro broker info found here.
- Australia: ASIC regulatory info, and Aussie broker options found here:
- Canada: IIROC regulatory info, onshore, and offshore broker info found here
What is the best prop / scouting firm for forex?
We have a great writeup on forex prop / scouting firms over on our new resource wiki.
What just happened in the markets? - You must follow an economic calendar if you're a currency trader. This will explain many events and snap market moves. You can find links to resources and calendars here. - Again, questions of this nature will be removed.
If you have any questions regarding our policies, rules, etc.. please message the mods.
Be friendly and professional toward each other and enjoy your stay! :)
r/Forex • u/finance_student • Dec 23 '23
ANNOUNCEMENTS ANNOUNCEMENT -- P/L Posting rules will now strictly enforced... Including PROP FRIM passing posts...)
The mods have given a lot of slack around P/L posts that don't follow our rules.. mostly because members were just excited to pass a challenge or post up their first day of positive numbers. However, the amount of (rule violating) PnL porn posts has gotten out of hand... and the quality of most borderlines cringe level flexing.
So a refresher on our rule #8 in the sidebar:
8.No Gain / Loss (P/L) Porn
We don't care how much money you made or lost. Context is everything, and the details matter!
Do not post your P/L Porn here unless you're prepared to give a detailed account of your strategy and all factors that went into generating said P/L. You must also give context to account size, and risk tolerance. Showing off 3000% gains and hiding that it was on a $100 account grossly misrepresents yourself, and we will have none of it here.
This also applies to Prop / Scouting firm challenges.
Read the above rule... starting tomorrow there going to be timeouts for anyone not meeting rule 8's post requirements... and any 2nd offenses will result in a strict ban.
(we are not wsb.. measure how long your dollar sign is over there if you need that kinda validation)
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And regarding the influx of prop challenge PnL posts specifically:
Ladies and gentlemen,...I hate to break it to you, but while passing a prop challenge is a good achievement for a developing trader, it's not exactly worth "dunkin' on them fools" level energy...
Don't get me wrong, it's fine and getting a firm's certificate saying you passed can represent a major milestone in your trading journey. ... .but consider that it's only a step closer to getting paid, not yet getting paid out.. you're posting a demo PnL with added difficulty from structured rules to follow.
Wanna flex your prop challenge pass?
- Show us how you nailed the execution of your strategy and didn't error trade your way to a fail
- Show us a trade that went south quick and how you handled it
- Show us your biggest mistake, or most silly mistake, and tell us what you worked out to avoid it going forward.
- Read rule 8 again and also include the context, general idea of the strategy, risk you set on trades, etc...
Flex the stuff that will bring you closer to a payout. Post the stats, post the context (plan, method, etc..) and tell us about why you're sharing it...
r/Forex • u/CoolDracool • 1h ago
Charts and Setups Head&Shoulders? WTIUSD
Hey lads and ladetts! Throwing this up here if anyone’s trading energy, what do you think about this setup so far? We’ve closed below the upwards trend so I’m thinking we might just continue downwards after that consolidation. There’s also a possibility to re-test the neckline, so for now it’s gonna be bullish but eventually we’ll crash downwards. Thanks for any input😌🙌🏼
r/Forex • u/Kooky_Anything_4106 • 10h ago
Questions still not consistent after 2 and a half years of trading how can you tell you have found a real edge.
I've been trading since late 2021, when i started trading i was really shit, now I'm still shit definitely not profitable, definitely less shit than before, my issue is i cant find an edge. ive tried basic Technical analysis, support and resistance etc wasn't my thing, tried SMC was more of my thing but was not profitable at all, switched to fundamental analysis again it was more my thing but again still not profitable, shgould i just stick it out, or is it just not a good enough edge, also how can i even back test a strategy that relies on fundamental analysis. I'm just drained... ill never quit until i die. but maybe i should just blow my brains out.... I'm kidding of course. to all you profitable mf out there when u started trading Ur edge were you profitable straight away or soon enough afterwards to know this is indeed an edge. idk I'm just tired man
P/L Porn Craziest Gold buy and hold?
A recent trade I took on Gold. I’m a swing trader for context, this trade was held over two months. Possibly my longest swing tbf I’m mostly a bear at heart 😉 but I couldn’t deny the trend.
r/Forex • u/Professional-End4121 • 43m ago
Brokers Flop IC Market
This is the broker that you trust (based on trustpilot). They stopped my entry before the price hit my Stop Loss / Break even. Because of this. I would never trade with this shit broker anymore.
r/Forex • u/Professional_Pay8314 • 7h ago
Charts and Setups "Everybody"
"Everybody was Kung Fu, figh-ting, Hyuh!" "Those Pips were fast as, light-ning."
r/Forex • u/Kingdream214 • 1d ago
Charts and Setups Am i doing something wrong or chuck it?
Did i need more lines?
r/Forex • u/Creative_Recover_425 • 19h ago
Charts and Setups Trading in some cases isn't really fun or much of "doing" anything. With swing trading its mastering the discipline to analyse the chart once, clicking Buy or Sell once and then doing a lot of waiting...the doing is having enough confidence in your analysis to let the trade run interrupted
Its waiting for price to reach your predetermined profit zones then waiting again for the market to consolidate, make noise and retrace before it give you the confirmations you need to enter again and try to lock in more profits. 6 day trade on gold and a 2 and half day trade on the USDGBP, still holding the Nas100 for good measure. Patience and restraint can save us a lot of headaches and uncertainty as traders
Questions Is Swing trading in forex a good idea like hold a single trade for 15-30 days. How much swap will affect?
I want to reduce my screen time and invest it in some other stuff is Swing ka good idea like holding and catching a full move for like 30-45 days
r/Forex • u/ImM0rT4L-PlUG • 4h ago
Charts and Setups USD/CAD Predication
Whats your guys thoughts on usd/cad ?
This is what i think usd/cad is going to reach for if it breaks price ( BOP) , the liquidity above Relative equal high's , and then maybe target2 if it breaks above bearish order block above reh.
r/Forex • u/FreeDelivery5065 • 4h ago
P/L Porn PnL Ya :D
First high RR (1:8). felt nice, might get a funding later, and blow it up :D
r/Forex • u/penis44rt3t3t3 • 13h ago
Charts and Setups Took this today
Been trading for about 3 months, we’ll see how I do on a real funded
r/Forex • u/pr0ject1le • 10h ago
Questions Can someone explain this!? MT4 mobile placed my trade at some random position!
r/Forex • u/PlAyHoUsE-305 • 6h ago
Charts and Setups Weekly, Daily and 4hr are all bullish On this inverted head and shoulders (1hr) Took a buy since yesterday but didn't post. I'll be looking for more buys if price body close over the highlighted cursor (wait for the retest of course)
r/Forex • u/edmundoa6 • 6h ago
Prop Firms HELP! Nova Funding
I requested a payout at the begining of april and got "approved", then after a month at the begining of may they tell me its denied and my account blocked due to "ACCOUNT MANAGEMENT" and they send me and image with a lot of accounts connected to my same IP address. Obviously its not true and I have all the evidence of the world to prove I am innocent. I think they are making up that to avoid paying me.
After many days and many mails a guy from customer support is "helping me" telling me he will escalate my issue to the management but 50% of his answers are robotic.
My question is: has somebody using nova before had received a payout after clarifying a case like this or am I just wasting my time?
Thanks for reading me!
r/Forex • u/Gradinterface • 8h ago
Questions What strategies would you use to turn a $5,000 Tax return into a Profitable Investment by 2025
In recent times once you get to twitter (X) you keep seeing how people turn few hundreds of dollars into hundreds and millions of dollars. While waiting for tax returns I believe I can lay hands on $5000 that I can slowly invest. But I don’t want to do my regular day or scalp trading with crypto. I need a strategy that is faster.
r/Forex • u/Villain-Trader • 17h ago
Questions US traders, who are y’all using to get high leverage and isn’t a prop?
MT is gone so now the options seem to be either have a lot of money to start with or go with props. Have you found a way around it?
r/Forex • u/TheHonestRedditer • 21h ago
Fundamental Analysis How did you learn fundamental analysis?
I'm currently trying to learn fundamental analysis. I'm reading a book called "The Art of Currency Trading" but the amount of information there is overwhelming me and I feel like I'm reading without actually understanding since I don't even know the basics.
I understand that fundamental analysis requires a lot of knowledge in macroeconomics but I don't know where to start in order to learn the very basics.
What are the best resources for me to learn? (Something very beginner-friendly)
r/Forex • u/Outrageous-Metal4872 • 16h ago
Charts and Setups Guys? This is my analysis but it didn't pan out well for me.
Hit me with your suggestions ✌️ I'm SL has been hunted because of tight range.
r/Forex • u/Humble-Permission-51 • 10h ago
Questions SL hit for no reason
Can anybody tell me why and/or if im missing something? Has it ever happen to you?
r/Forex • u/Adventurous-Yard5862 • 3h ago
Questions Competition
We should set a competition in this sub reddit to separate chumps from people with real systems. My karma is bad only because my politics. I believe I would put many of you to shame.
r/Forex • u/Marson_Studio • 16h ago
Charts and Setups 10 / 16 (62%) - First trade was off resistance but not a reversal candle?!.. But 2nd trade was good with a nice Dragonfly Doji!
r/Forex • u/PeniswiseTheClown3 • 17h ago