Deciding if I should pursue a career in forex trading (as a 15 year old)
Hey everyone, I’m a teenager living in the uk and in the past 9 months or so I’ve been trying to decide what I want to do once I leave school. Long story short I have lots of interests but my ultimate goal in life is to travel the world and gain ‘financial freedom’. I know this sounds very typical of a teenager which has been exposed to gurus or whatever but I want some opinions off some professional or experienced traders not these gurus trying to sell me something. I would just like to know if forex trading is a career where you can be very successful and I will start learning as soon as I can, I’ve learnt all the basics but I want to keep learning more about it so I’m ready to trade real money when I’m 18. I really hope I don’t come across as just some idiot who thinks it’s a get rich quick scheme because I certainly know it’s not. I would really appreciate any advice and comments if anyone sees this, Thank you
I want the option to buy 1,000,000 EUR at a minimum USD rate through a Long Put. Current Spot Rate = USD/EUR = 1.20 Put Option X = EUUSD = 0.8080 Premium = EUUSD = 0.0134 Notional Principal = 1,000,000 / 0.8080 = 1,237,624 USD Premium Cost = 1,237,624 x 0.0134 = 16,584 EUR What's the cost of the 16,584 EUR in USD? A or B? A. 16,854 / 0.8080 = 20,525 USD B. 16,854 x 1.20 = 19,901 USD I don't understand why the textbook uses A. Wouldn't we use the current spot rate for the cost of the option? Thanks.
This Random strategy broke even trading Forex every 15 minutes for a month.
New to Algo trading, and just learning and experimenting. I'm posting this more because I found it to be interesting, though I wonder if anyone could suggest one small change to give this an edge slightly above break-even. (One old weird trick the algorithms don't want you to know!?) I realize that 1 month isn't much time at all, but this thing traded every 15 minutes, 24/5. Results: Break-even, after fluctuating +/- 10% several times throughout. Parameters:
Account Value used per trade: 50%
Stop Loss: 10 Pip Trailing
Schedule: cron job on a Debian server, firing every 15 minutes
Step 1: Roll the dice to choose currency pair, each pair assigned to a side of the dice
Step 2: Flip a coin to determine direction. Heads for Long, Tails for Short
Step 3: Trade the randomly generated results
I thought this would waste my account in a big hurry, but I was pretty surprised at how well it did. Yeah, it isn't profitable, but for being totally random, I was not expecting it to break-even. This experiment was inspired by the Incerto series by N. N. Taleb. (I should clarify- he doesn't advocate for trading this way, just reading so much about randomness got me interested in the experiment) Here's a link to the actual script, for those interested. https://pastebin.com/raw/Qwcr6hMG
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08-04 00:15 - 'Use bitcoinmirrortraders.com , they will trade your bitcoin in forex under Mirror Trading International. Go on YouTube for reviews for MTI. I just signed up under them as my sponsor so hoping to grow my balance' by /u/losloppie removed from /r/Bitcoin within 56-66min
http://twitter.com/forex_in_world/status/1285112906745610243EUR/USD Forecast: Breaking 1.15? EU leaders near leap forward, vaccine hopes, technicals all point up https://t.co/aBMQBP0ORo— FOREX IN WORLD (@forex_in_world) July 20, 2020
http://twitter.com/forex_in_world/status/1283331129198751747GBP/USD Forecast: Heading increased? Huawei, Hong Kong and downside momentum would possibly well maybe furthermore merely limit positive aspects https://t.co/hboX9Yey8a— FOREX IN WORLD (@forex_in_world) July 15, 2020
http://twitter.com/forex_in_world/status/1283316098885193728EUR/USD Forecast: Rupture or leap at famous cap? Coronavirus vaccine hopes fight EU uncertainty https://t.co/Xav7ABeRet— FOREX IN WORLD (@forex_in_world) July 15, 2020
http://twitter.com/forex_in_world/status/1283331130394062849Chart Artwork: Short and Prolonged-Term Setups on EUR/USD and USD/CHF https://t.co/2UcWt0t3OF— FOREX IN WORLD (@forex_in_world) July 15, 2020
http://twitter.com/forex_in_world/status/1283285869647060992EUR/USD Diagnosis: Bulls cease end to June swing highs, upside doable intact https://t.co/vtVpDU2iWi— FOREX IN WORLD (@forex_in_world) July 15, 2020
Forex Risk Management Strategies You can Abide By #15 Lot size. The position size you take on the market determines the size of your profits and losses in dollar value by affecting the value of a single pip. In the Forex market, one standard lot (standard position size) equals to 100.000 units of the base currency. Traded pair: EUR/JPY (one pair , is enough to earn in forex) Time frame: 15 Min. Trading hours: 9 am to 7 pm, PARIS time, GMT+1. The rest of the method, is the same than before. ROI you can expect , will depend on your risk, but let say, that it is twice your risk (risk =5%, ROI expected /month : 10%) The 15 pips forex scalping trading strategy is an extremely accurate scalping strategy. It is the tool to have for the scalpers. It has an efficiency of 85-90% making it among one of the best trading strategies there is for scalping. FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. FOREX Essentials in 15 Trades gives you the tools to make a smart entry into the world of FOREX trading, improve your skills, and boost your trading results. About the Author John M. Bland is cofounder of Global-View.com. Prior to this, he was a bank forex consultant, fund manager, and independent trader.
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