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Former investment bank FX trader: some thoughts

Former investment bank FX trader: some thoughts
Hi guys,
I have been using reddit for years in my personal life (not trading!) and wanted to give something back in an area where i am an expert.
I worked at an investment bank for seven years and joined them as a graduate FX trader so have lots of professional experience, by which i mean I was trained and paid by a big institution to trade on their behalf. This is very different to being a full-time home trader, although that is not to discredit those guys, who can accumulate a good amount of experience/wisdom through self learning.
When I get time I'm going to write a mid-length posts on each topic for you guys along the lines of how i was trained. I guess there would be 15-20 topics in total so about 50-60 posts. Feel free to comment or ask questions.
The first topic is Risk Management and we'll cover it in three parts
Part I
  • Why it matters
  • Position sizing
  • Kelly
  • Using stops sensibly
  • Picking a clear level

Why it matters

The first rule of making money through trading is to ensure you do not lose money. Look at any serious hedge fund’s website and they’ll talk about their first priority being “preservation of investor capital.”
You have to keep it before you grow it.
Strangely, if you look at retail trading websites, for every one article on risk management there are probably fifty on trade selection. This is completely the wrong way around.
The great news is that this stuff is pretty simple and process-driven. Anyone can learn and follow best practices.
Seriously, avoiding mistakes is one of the most important things: there's not some holy grail system for finding winning trades, rather a routine and fairly boring set of processes that ensure that you are profitable, despite having plenty of losing trades alongside the winners.

Capital and position sizing

The first thing you have to know is how much capital you are working with. Let’s say you have $100,000 deposited. This is your maximum trading capital. Your trading capital is not the leveraged amount. It is the amount of money you have deposited and can withdraw or lose.
Position sizing is what ensures that a losing streak does not take you out of the market.
A rule of thumb is that one should risk no more than 2% of one’s account balance on an individual trade and no more than 8% of one’s account balance on a specific theme. We’ll look at why that’s a rule of thumb later. For now let’s just accept those numbers and look at examples.
So we have $100,000 in our account. And we wish to buy EURUSD. We should therefore not be risking more than 2% which $2,000.
We look at a technical chart and decide to leave a stop below the monthly low, which is 55 pips below market. We’ll come back to this in a bit. So what should our position size be?
We go to the calculator page, select Position Size and enter our details. There are many such calculators online - just google "Pip calculator".

https://preview.redd.it/y38zb666e5h51.jpg?width=1200&format=pjpg&auto=webp&s=26e4fe569dc5c1f43ce4c746230c49b138691d14
So the appropriate size is a buy position of 363,636 EURUSD. If it reaches our stop level we know we’ll lose precisely $2,000 or 2% of our capital.
You should be using this calculator (or something similar) on every single trade so that you know your risk.
Now imagine that we have similar bets on EURJPY and EURGBP, which have also broken above moving averages. Clearly this EUR-momentum is a theme. If it works all three bets are likely to pay off. But if it goes wrong we are likely to lose on all three at once. We are going to look at this concept of correlation in more detail later.
The total amount of risk in our portfolio - if all of the trades on this EUR-momentum theme were to hit their stops - should not exceed $8,000 or 8% of total capital. This allows us to go big on themes we like without going bust when the theme does not work.
As we’ll see later, many traders only win on 40-60% of trades. So you have to accept losing trades will be common and ensure you size trades so they cannot ruin you.
Similarly, like poker players, we should risk more on trades we feel confident about and less on trades that seem less compelling. However, this should always be subject to overall position sizing constraints.
For example before you put on each trade you might rate the strength of your conviction in the trade and allocate a position size accordingly:

https://preview.redd.it/q2ea6rgae5h51.png?width=1200&format=png&auto=webp&s=4332cb8d0bbbc3d8db972c1f28e8189105393e5b
To keep yourself disciplined you should try to ensure that no more than one in twenty trades are graded exceptional and allocated 5% of account balance risk. It really should be a rare moment when all the stars align for you.
Notice that the nice thing about dealing in percentages is that it scales. Say you start out with $100,000 but end the year up 50% at $150,000. Now a 1% bet will risk $1,500 rather than $1,000. That makes sense as your capital has grown.
It is extremely common for retail accounts to blow-up by making only 4-5 losing trades because they are leveraged at 50:1 and have taken on far too large a position, relative to their account balance.
Consider that GBPUSD tends to move 1% each day. If you have an account balance of $10k then it would be crazy to take a position of $500k (50:1 leveraged). A 1% move on $500k is $5k.
Two perfectly regular down days in a row — or a single day’s move of 2% — and you will receive a margin call from the broker, have the account closed out, and have lost all your money.
Do not let this happen to you. Use position sizing discipline to protect yourself.

Kelly Criterion

If you’re wondering - why “about 2%” per trade? - that’s a fair question. Why not 0.5% or 10% or any other number?
The Kelly Criterion is a formula that was adapted for use in casinos. If you know the odds of winning and the expected pay-off, it tells you how much you should bet in each round.
This is harder than it sounds. Let’s say you could bet on a weighted coin flip, where it lands on heads 60% of the time and tails 40% of the time. The payout is $2 per $1 bet.
Well, absolutely you should bet. The odds are in your favour. But if you have, say, $100 it is less obvious how much you should bet to avoid ruin.
Say you bet $50, the odds that it could land on tails twice in a row are 16%. You could easily be out after the first two flips.
Equally, betting $1 is not going to maximise your advantage. The odds are 60/40 in your favour so only betting $1 is likely too conservative. The Kelly Criterion is a formula that produces the long-run optimal bet size, given the odds.
Applying the formula to forex trading looks like this:
Position size % = Winning trade % - ( (1- Winning trade %) / Risk-reward ratio
If you have recorded hundreds of trades in your journal - see next chapter - you can calculate what this outputs for you specifically.
If you don't have hundreds of trades then let’s assume some realistic defaults of Winning trade % being 30% and Risk-reward ratio being 3. The 3 implies your TP is 3x the distance of your stop from entry e.g. 300 pips take profit and 100 pips stop loss.
So that’s 0.3 - (1 - 0.3) / 3 = 6.6%.
Hold on a second. 6.6% of your account probably feels like a LOT to risk per trade.This is the main observation people have on Kelly: whilst it may optimise the long-run results it doesn’t take into account the pain of drawdowns. It is better thought of as the rational maximum limit. You needn’t go right up to the limit!
With a 30% winning trade ratio, the odds of you losing on four trades in a row is nearly one in four. That would result in a drawdown of nearly a quarter of your starting account balance. Could you really stomach that and put on the fifth trade, cool as ice? Most of us could not.
Accordingly people tend to reduce the bet size. For example, let’s say you know you would feel emotionally affected by losing 25% of your account.
Well, the simplest way is to divide the Kelly output by four. You have effectively hidden 75% of your account balance from Kelly and it is now optimised to avoid a total wipeout of just the 25% it can see.
This gives 6.6% / 4 = 1.65%. Of course different trading approaches and different risk appetites will provide different optimal bet sizes but as a rule of thumb something between 1-2% is appropriate for the style and risk appetite of most retail traders.
Incidentally be very wary of systems or traders who claim high winning trade % like 80%. Invariably these don’t pass a basic sense-check:
  • How many live trades have you done? Often they’ll have done only a handful of real trades and the rest are simulated backtests, which are overfitted. The model will soon die.
  • What is your risk-reward ratio on each trade? If you have a take profit $3 away and a stop loss $100 away, of course most trades will be winners. You will not be making money, however! In general most traders should trade smaller position sizes and less frequently than they do. If you are going to bias one way or the other, far better to start off too small.

How to use stop losses sensibly

Stop losses have a bad reputation amongst the retail community but are absolutely essential to risk management. No serious discretionary trader can operate without them.
A stop loss is a resting order, left with the broker, to automatically close your position if it reaches a certain price. For a recap on the various order types visit this chapter.
The valid concern with stop losses is that disreputable brokers look for a concentration of stops and then, when the market is close, whipsaw the price through the stop levels so that the clients ‘stop out’ and sell to the broker at a low rate before the market naturally comes back higher. This is referred to as ‘stop hunting’.
This would be extremely immoral behaviour and the way to guard against it is to use a highly reputable top-tier broker in a well regulated region such as the UK.
Why are stop losses so important? Well, there is no other way to manage risk with certainty.
You should always have a pre-determined stop loss before you put on a trade. Not having one is a recipe for disaster: you will find yourself emotionally attached to the trade as it goes against you and it will be extremely hard to cut the loss. This is a well known behavioural bias that we’ll explore in a later chapter.
Learning to take a loss and move on rationally is a key lesson for new traders.
A common mistake is to think of the market as a personal nemesis. The market, of course, is totally impersonal; it doesn’t care whether you make money or not.
Bruce Kovner, founder of the hedge fund Caxton Associates
There is an old saying amongst bank traders which is “losers average losers”.
It is tempting, having bought EURUSD and seeing it go lower, to buy more. Your average price will improve if you keep buying as it goes lower. If it was cheap before it must be a bargain now, right? Wrong.
Where does that end? Always have a pre-determined cut-off point which limits your risk. A level where you know the reason for the trade was proved ‘wrong’ ... and stick to it strictly. If you trade using discretion, use stops.

Picking a clear level

Where you leave your stop loss is key.
Typically traders will leave them at big technical levels such as recent highs or lows. For example if EURUSD is trading at 1.1250 and the recent month’s low is 1.1205 then leaving it just below at 1.1200 seems sensible.

If you were going long, just below the double bottom support zone seems like a sensible area to leave a stop
You want to give it a bit of breathing room as we know support zones often get challenged before the price rallies. This is because lots of traders identify the same zones. You won’t be the only one selling around 1.1200.
The “weak hands” who leave their sell stop order at exactly the level are likely to get taken out as the market tests the support. Those who leave it ten or fifteen pips below the level have more breathing room and will survive a quick test of the level before a resumed run-up.
Your timeframe and trading style clearly play a part. Here’s a candlestick chart (one candle is one day) for GBPUSD.

https://preview.redd.it/moyngdy4f5h51.png?width=1200&format=png&auto=webp&s=91af88da00dd3a09e202880d8029b0ddf04fb802
If you are putting on a trend-following trade you expect to hold for weeks then you need to have a stop loss that can withstand the daily noise. Look at the downtrend on the chart. There were plenty of days in which the price rallied 60 pips or more during the wider downtrend.
So having a really tight stop of, say, 25 pips that gets chopped up in noisy short-term moves is not going to work for this kind of trade. You need to use a wider stop and take a smaller position size, determined by the stop level.
There are several tools you can use to help you estimate what is a safe distance and we’ll look at those in the next section.
There are of course exceptions. For example, if you are doing range-break style trading you might have a really tight stop, set just below the previous range high.

https://preview.redd.it/ygy0tko7f5h51.png?width=1200&format=png&auto=webp&s=34af49da61c911befdc0db26af66f6c313556c81
Clearly then where you set stops will depend on your trading style as well as your holding horizons and the volatility of each instrument.
Here are some guidelines that can help:
  1. Use technical analysis to pick important levels (support, resistance, previous high/lows, moving averages etc.) as these provide clear exit and entry points on a trade.
  2. Ensure that the stop gives your trade enough room to breathe and reflects your timeframe and typical volatility of each pair. See next section.
  3. Always pick your stop level first. Then use a calculator to determine the appropriate lot size for the position, based on the % of your account balance you wish to risk on the trade.
So far we have talked about price-based stops. There is another sort which is more of a fundamental stop, used alongside - not instead of - price stops. If either breaks you’re out.
For example if you stop understanding why a product is going up or down and your fundamental thesis has been confirmed wrong, get out. For example, if you are long because you think the central bank is turning hawkish and AUDUSD is going to play catch up with rates … then you hear dovish noises from the central bank and the bond yields retrace lower and back in line with the currency - close your AUDUSD position. You already know your thesis was wrong. No need to give away more money to the market.

Coming up in part II

EDIT: part II here
Letting stops breathe
When to change a stop
Entering and exiting winning positions
Risk:reward ratios
Risk-adjusted returns

Coming up in part III

Squeezes and other risks
Market positioning
Bet correlation
Crap trades, timeouts and monthly limits

***
Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

Some trading wisdom, tools and information I picked up along the way that helped me be a better trader. Maybe it can help you too.

Its a bit lengthy and I tried to condense it as much as I can. So take everything at a high level as each subject is has a lot more depth but fundamentally if you distill it down its just taking simple things and applying your experience using them to add nuance and better deploy them.
There are exceptions to everything that you will learn with experience or have already learned. If you know something extra or something to add to it to implement it better or more accurately. Then great! However, my intention of this post is just a high level overview. Trading can be far too nuanced to go into in this post and would take forever to type up every exception (not to mention the traders individual personality). If you take the general information as a starting point, hopefully you will learn the edge cases long the way and learn how to use the more effectively if you end up using them. I apologize in advice for any errors or typos.
Introduction After reflecting on my fun (cough) trading journey that was more akin to rolling around on broken glass and wondering if brown glass will help me predict market direction better than green glass. Buying a $100 indicator at 2 am when I was acting a fool, looking at it and going at and going "This is a piece of lagging crap, I miss out on a large part of the fundamental move and never using it for even one trade". All while struggling with massive over trading and bad habits because I would get bored watching a single well placed trade on fold for the day. Also, I wanted to get rich quick.
On top all of that I had a terminal Stage 4 case of FOMO on every time the price would move up and then down then back up. Just think about all those extra pips I could have trading both directions as it moves across the chart! I can just sell right when it goes down, then buy right before it goes up again. Its so easy right? Well, turns out it was not as easy as I thought and I lost a fair chunk of change and hit my head against the wall a lot until it clicked. Which is how I came up with a mixed bag of things that I now call "Trade the Trade" which helped support how I wanted to trade so I can still trade intra day price action like a rabid money without throwing away all my bananas.
Why Make This Post? - Core Topic of Discussion I wish to share a concept I came up with that helped me become a reliable trader. Support the weakness of how I like to trade. Also, explaining what I do helps reinforce my understanding of the information I share as I have to put words to it and not just use internalized processes. I came up with a method that helped me get my head straight when trading intra day.
I call it "Trade the Trade" as I am making mini trades inside of a trade setup I make from analysis on a higher timeframe that would take multiple days to unfold or longer. I will share information, principles, techniques I used and learned from others I talked to on the internet (mixed bag of folks from armatures to professionals, and random internet people) that helped me form a trading style that worked for me. Even people who are not good at trading can say something that might make it click in your head so I would absorbed all the information I could get.I will share the details of how I approach the methodology and the tools in my trading belt that I picked up by filtering through many tools, indicators strategies and witchcraft. Hopefully you read something that ends up helping you be a better trader. I learned a lot from people who make community posts so I wanted to give back now that I got my ducks in a row.
General Trading Advice If your struggling finding your own trading style, fixing weakness's in it, getting started, being reliably profitable or have no framework to build yourself higher with, hopefully you can use the below advice to help provide some direction or clarity to moving forward to be a better trader.
  1. KEEP IT SIMPLE. Do not throw a million things on your chart from the get go or over analyzing what the market is doing while trying to learn the basics. Tons of stuff on your chart can actually slow your learning by distracting your focus on all your bells and whistles and not the price action.
  2. PRICE ACTION. Learn how to read price action. Not just the common formations, but larger groups of bars that form the market structure. Those formations carry more weight the higher the time frame they form on. If struggle to understand what is going on or what your looking at, move to a higher time frame.
  3. INDICATORS. If you do use them you should try to understand how every indicator you use calculates its values. Many indicators are lagging indicators, understanding how it calculates the values can help you learn how to identify the market structure before the indicator would trigger a signal . This will help you understand why the signal is a lagged signal. If you understand that you can easily learn to look at the price action right before the signal and learn to watch for that price action on top of it almost trigging a signal so you can get in at a better position and assume less downside risk. I recommend using no more than 1-2 indicators for simplicity, but your free to use as many as you think you think you need or works for your strategy/trading style.
  4. PSYCOLOGY. First, FOMO is real, don't feed the beast. When you trade you should always have an entry and exit. If you miss your entry do not chase it, wait for a new entry. At its core trading is gambling and your looking for an edge against the house (the other market participants). With that in mind, treat as such. Do not risk more than you can afford to lose. If you are afraid to lose it will negatively effect your trade decisions. Finally, be honest with your self and bad trading happens. No one is going to play trade cop and keep you in line, that's your job.
  5. TRADE DECISION MARKING: Before you enter any trade you should have an entry and exit area. As you learn price action you will get better entries and better exits. Use a larger zone and stop loss at the start while learning. Then you can tighten it up as you gain experience. If you do not have a area you wish to exit, or you are entering because "the markets looking like its gonna go up". Do not enter the trade. Have a reason for everything you do, if you cannot logically explain why then you probably should not be doing it.
  6. ROBOTS/ALGOS: Loved by some, hated by many who lost it all to one, and surrounded by scams on the internet. If you make your own, find a legit one that works and paid for it or lost it all on a crappy one, more power to ya. I do not use robots because I do not like having a robot in control of my money. There is too many edge cases for me to be ok with it.However, the best piece of advice about algos was that the guy had a algo/robot for each market condition (trending/ranging) and would make personalized versions of each for currency pairs as each one has its own personality and can make the same type of movement along side another currency pair but the price action can look way different or the move can be lagged or leading. So whenever he does his own analysis and he sees a trend, he turns the trend trading robot on. If the trend stops, and it starts to range he turns the range trading robot on. He uses robots to trade the market types that he is bad at trading. For example, I suck at trend trading because I just suck at sitting on my hands and letting my trade do its thing.

Trade the Trade - The Methodology

Base Principles These are the base principles I use behind "Trade the Trade". Its called that because you are technically trading inside your larger high time frame trade as it hopefully goes as you have analyzed with the trade setup. It allows you to scratch that intraday trading itch, while not being blind to the bigger market at play. It can help make sense of why the price respects, rejects or flat out ignores support/resistance/pivots.
  1. Trade Setup: Find a trade setup using high level time frames (daily, 4hr, or 1hr time frames). The trade setup will be used as a base for starting to figure out a bias for the markets direction for that day.
  2. Indicator Data: Check any indicators you use (I use Stochastic RSI and Relative Vigor Index) for any useful information on higher timeframes.
  3. Support Resistance: See if any support/resistance/pivot points are in currently being tested/resisted by the price. Also check for any that are within reach so they might become in play through out the day throughout the day (which can influence your bias at least until the price reaches it if it was already moving that direction from previous days/weeks price action).
  4. Currency Strength/Weakness: I use the TradeVision currency strength/weakness dashboard to see if the strength/weakness supports the narrative of my trade and as an early indicator when to keep a closer eye for signs of the price reversing.Without the tool, the same concept can be someone accomplished with fundamentals and checking for higher level trends and checking cross currency pairs for trends as well to indicate strength/weakness, ranging (and where it is in that range) or try to get some general bias from a higher level chart that may help you out. However, it wont help you intra day unless your monitoring the currency's index or a bunch of charts related to the currency.
  5. Watch For Trading Opportunities: Personally I make a mental short list and alerts on TradingView of currency pairs that are close to key levels and so I get a notification if it reaches there so I can check it out. I am not against trading both directions, I just try to trade my bias before the market tries to commit to a direction. Then if I get out of that trade I will scalp against the trend of the day and hold trades longer that are with it.Then when you see a opportunity assume the directional bias you made up earlier (unless the market solidly confirms with price action the direction while waiting for an entry) by trying to look for additional confirmation via indicators, price action on support/resistances etc on the low level time frame or higher level ones like hourly/4hr as the day goes on when the price reaches key areas or makes new market structures to get a good spot to enter a trade in the direction of your bias.Then enter your trade and use the market structures to determine how much of a stop you need. Once your in the trade just monitor it and watch the price action/indicators/tools you use to see if its at risk of going against you. If you really believe the market wont reach your TP and looks like its going to turn against you, then close the trade. Don't just hold on to it for principle and let it draw down on principle or the hope it does not hit your stop loss.
  6. Trade Duration Hold your trades as long or little as you want that fits your personality and trading style/trade analysis. Personally I do not hold trades past the end of the day (I do in some cases when a strong trend folds) and I do not hold trades over the weekends. My TP targets are always places I think it can reach within the day. Typically I try to be flat before I sleep and trade intra day price movements only. Just depends on the higher level outlook, I have to get in at really good prices for me to want to hold a trade and it has to be going strong. Then I will set a slightly aggressive stop on it before I leave. I do know several people that swing trade and hold trades for a long period of time. That is just not a trading style that works for me.
Enhance Your Success Rate Below is information I picked up over the years that helped me enhance my success rate with not only guessing intra day market bias (even if it has not broken into the trend for the day yet (aka pre London open when the end of Asia likes to act funny sometimes), but also with trading price action intra day.
People always say "When you enter a trade have an entry and exits. I am of the belief that most people do not have problem with the entry, its the exit. They either hold too long, or don't hold long enough. With the below tools, drawings, or instruments, hopefully you can increase your individual probability of a successful trade.
**P.S.*\* Your mileage will vary depending on your ability to correctly draw, implement and interpret the below items. They take time and practice to implement with a high degree of proficiency. If you have any questions about how to do that with anything listed, comment below and I will reply as I can. I don't want to answer the same question a million times in a pm.
Tools and Methods Used This is just a high level overview of what I use. Each one of the actions I could go way more in-depth on but I would be here for a week typing something up of I did that. So take the information as a base level understanding of how I use the method or tool. There is always nuance and edge cases that you learn from experience.
Conclusion
I use the above tools/indicators/resources/philosophy's to trade intra day price action that sometimes ends up as noise in the grand scheme of the markets movement.use that method until the price action for the day proves the bias assumption wrong. Also you can couple that with things like Stoch RSI + Relative Vigor Index to find divergences which can increase the probability of your targeted guesses.

Trade Example from Yesterday This is an example of a trade I took today and why I took it. I used the following core areas to make my trade decision.
It may seem like a lot of stuff to process on the fly while trying to figure out live price action but, for the fundamental bias for a pair should already baked in your mindset for any currency pair you trade. For the currency strength/weakness I stare at the dashboard 12-15 hours a day so I am always trying to keep a pulse on what's going or shifts so that's not really a factor when I want to enter as I would not look to enter if I felt the market was shifting against me. Then the higher timeframe analysis had already happened when I woke up, so it was a game of "Stare at the 5 min chart until the price does something interesting"
Trade Example: Today , I went long EUUSD long bias when I first looked at the chart after waking up around 9-10pm Eastern. Fortunately, the first large drop had already happened so I had a easy baseline price movement to work with. I then used tool for currency strength/weakness monitoring, Pivot Points, and bearish divergence detected using Stochastic RSI and Relative Vigor Index.
I first noticed Bearish Divergence on the 1hr time frame using the Stochastic RSI and got confirmation intra day on the 5 min time frame with the Relative Vigor Index. I ended up buying the second mini dip around midnight Eastern because it was already dancing along the pivot point that the price had been dancing along since the big drop below the pivot point and dipped below it and then shortly closed back above it. I put a stop loss below the first large dip. With a TP goal of the middle point pivot line
Then I waited for confirmation or invalidation of my trade. I ended up getting confirmation with Bearish Divergence from the second large dip so I tightened up my stop to below that smaller drip and waited for the London open. Not only was it not a lower low, I could see the divergence with the Relative Vigor Index.
It then ran into London and kept going with tons of momentum. Blew past my TP target so I let it run to see where the momentum stopped. Ended up TP'ing at the Pivot Point support/resistance above the middle pivot line.
Random Note: The Asian session has its own unique price action characteristics that happen regularly enough that you can easily trade them when they happen with high degrees of success. It takes time to learn them all and confidently trade them as its happening. If you trade Asia you should learn to recognize them as they can fake you out if you do not understand what's going on.

TL;DR At the end of the day there is no magic solution that just works. You have to find out what works for you and then what people say works for them. Test it out and see if it works for you or if you can adapt it to work for you. If it does not work or your just not interested then ignore it.
At the end of the day, you have to use your brain to make correct trading decisions. Blindly following indicators may work sometimes in certain market conditions, but trading with information you don't understand can burn you just as easily as help you. Its like playing with fire. So, get out there and grind it out. It will either click or it wont. Not everyone has the mindset or is capable of changing to be a successful trader. Trading is gambling, you do all this work to get a edge on the house. Trading without the edge or an edge you understand how to use will only leave your broker happy in the end.
submitted by marcusrider to Forex [link] [comments]

Forex trading - deciding on a forex broker

The foreign currency market is the largest of all of the trading markets with an almost unbelievable 5 trillion dollars changing hands each day. Until recently Forex trading was consigned to heavy weight traders and brokers who could afford the high minimum trading amounts required.
However, the recent appeal of trading online has prompted a further development in the foreign exchange boom. Increased leverages are now not just available for the big scale traders but also for the starter and lower volume speculators. Whereas minimum deposits were at one time in the thousands of dollars range now they are in the hundreds. Nowadays, a trader can enter the foreign exchange with little more than a credit card, a Forex trading account and a laptop or PC. The boom has led to a number of brokers entering the market to meet the demand in online trading, but getting a suitable broker out of so many options can be difficult.
Deciding on a Forex broker
Take a look at this list of fundamentals to think about when making your selection of a suitable Forex broker:
Foreign currencies
All Forex brokers provide the "majors" as pairs to trade upon. These principal moneys include the US dollar (USD), the Japanese Yen (JPY) and the British pound (GBP). Further brokerages host platforms that have the alternative to exchange lesser known moneys. The more sluggish Forex currencies or"exotics" encounter even more volatility as opposed to the "majors" which can provide intriguing trading options. If you are planning on trading on one of the weaker, "exotic" currencies make sure that it on the list of currencies to invest with on your broker of choice's platform. In short make sure that you work with currencies that you have an interest in.
Trades
A lot of currency brokerages have reduced their minimum deposits to as low as $100. Higher leverage sums which were formerly only made accessible for expert traders are currently on hand for the lower end traders. The good thing about this is that with a 50:1 leverage, on a trading account of $1,000 the user can now sustain a place of $50,000. Be careful to remember, however, that leverage is a sort of financial loan, whilst the strength of your account is markedly increased the potential sum to be lost is also boosted.
Regulation
Each one of the leading Forex firms will have made sure that they are listed by one or more of the main regulatory authorities. For a user to observe that a company is fully regulated shows that the brokerage service is a serious operation devoted to fair market procedures. Signing up for membership with an unregulated broker is not advised, even more so with such a wide choice of regulated brokers out there..
Minimum amounts for deposit
Every broker will designate a minimum deposit amount prior to the start of trading. Smaller deposit amounts can be put down using beginner or low volume trading accounts whereas the high roller accounts require higher minimums to begin. As there are such larger numbers of brokers operating the initial deposit amounts can play a significant role as each company pushes for your custom by trying to out compete rival companies with more tempting welcome offers. You will notice that it can be to your gain if you browse a little.
Commissions and Spreads
Forex brokerages profit though commissions and spreads. The broker's commission can either be set on a per transaction basis or over a set of transactions. The spread refers to the amount between the actual and the bidding prices of a currency or currency pair. Usually the spread is comes in at around 3-5 pips.
Margins
It is not unconventional for a broker to require that you fund your account with an advanced amount of capital to counter balance any potential losses that may be experienced. This advanced amount is known as a margin or margin requirement. Be sure that the conditions of the margin requirement are suited to your degree of trading.
Trading Platforms
The most widespread platform in the online Forex market is the Meta trading platform. It is very reliable and can be accessed both on your computer and your mobile device. Some brokers use their own proprietary trading platform as well so it is advisable to take the time to find out how trusted it is and whether there are any interruptions between messaging between their platform and the actual foreign exchange.
Support
See if you can get as much information as possible about the level of support available with a broker. Good indicators of a broker's level of service can include the trading education materials they have and if there is a live chat option. Together with this, many top companies display documentation, tutorials and eBooks to educate you on how to improve your chances of achieving profitable returns and cutting down minimising the risks.
Forex trading involves risks. You can minimise the risks by researching your broker and testing out your trading strategy thoroughly.
submitted by cfdstraded to FOREXTRADING [link] [comments]

7 Ways To Make Money In The Pandemic

During this pandemic, so many companies have gone bankrupt, so that many employees have been fired by the company. Entertainment places, shopping places, and even places of worship are temporarily closed. And now, there are more and more unemployed people in this pandemic. Then, how to find the most suitable job in this situation. I will provide a list of jobs that might help you, especially those of you who lost your current job.
1. Freelancers
For those of you who want to get a job without having to leave the house, you can try this job. You can become a writer, web designer, product designer, logo creator, and more. You are free to choose a job according to the skills you have.
2. Become a creator on YouTube
This job is also very suitable at this time of the pandemic. By making videos, you can make money easily. However, if you want to be paid by YouTube, you have to reach 1000 subscribers and 4000 broadcast hours. It's not difficult if you can make a really interesting video. Make the video as good as possible so that your video is fast monetization.
3. Forex
You also make money easily by trading forex. However, before you want to trade in forex, you must know how to know about trading. Because if you don't know the knowledge and procedures first, you will lose and you will not make money.
4. Become a reseller
Selling other people's products to get profit from the profit-sharing between the seller and you. You don't need to keep stock of the items you have to sell. You only need social media, you can make money by sharing product links from sellers to your social media accounts. And if later you have friends or relatives who want to buy the products that you have shared, then you will get a commission from the sale of these items.
5. Play games
Sometimes games are seen as useless for adults like us. However, who would have thought that games could also make money. By playing games, you can get money easily and quickly. There are many choices of games that you can play, and you can use them as a place to find a passive.
6. Become a Courier
Since the COVID 19 pandemic began to spread, everyone who ordered them to stay at home, avoid crowds of people, and even places of worship have been temporarily closed. If everyone is ordered to stay at home, then what about the family's food needs. One solution is to shop at an online store. When everyone uses the online shop, isn't this a great opportunity for a package delivery courier. Very profitable, right? Being a courier in this pandemic situation is a great opportunity for those of you who lose your job.
7. Become a tutor
If you know science, math, and other skills, now is a great opportunity for you. Because everyone was ordered to stay at home, all places were closed, even schools were closed. Being a teacher today is a very good business opportunity. Because all students in school all requests to study at home. And a student needs guidance. And this is your opportunity to mentor a student.
submitted by demisky01 to u/demisky01 [link] [comments]

Forex Trading in Kenya.

Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while.
FIRST OF ALL, who am I..?
I am a forex trader, in Nairobi, Kenya..i have been actively involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since.
I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass.
What the fuck is forex and forex trading.
In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend.
These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell)
Is forex trading illegal in Kenya? Is it a scam?
Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019)
Have there been scams involving forex in Kenya?
Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable.
However, by the end of this post, I hope you won’t fall for such silliness.
What next how do I make it work..?
Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that.
The second route is more practical, structured and smarter.
First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car.
Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored.
The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc
Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you.
Here are some nice YouTube channels to watch. These guys are legit..
  1. Sam sieden
  2. Cuebanks
  3. TheCoinFx
  4. The trading channel
  5. Astro
  6. Forex family
  7. Wicksdontlie
Advanced stuff
  1. ICT
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off.
How long will it take until things start making sense
Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee.
Social media, Mentality, Psychology and Books
Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed.
Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you.
Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch.
Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn.
This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts.
Brokers
You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it.
Money transfer.
All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.)
How much money can I make..?
I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make.
How much money do I need to start with..?
Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds.
Taxes..?
Talk to a lawyer or an accountant. I am neither.
Family? Friends?
Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it.
The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together.
Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job.
And now it is 5am, fuck.
This is oversimplified and leaves out many many aspects.
Happy to answer any questions.
submitted by ChaliFlaniwaNairobi to Kenya [link] [comments]

What you must know about getting gold trading signals

What you must know about getting gold trading signals
Trading gold is considered as a natural part of Forex trading. Gold provides a lot more opportunities in trading profits more frequently than the traditional Forex currency pairs. Traders going for just a few hundred and few thousand dollars may trade in Gold online at the most cost-effective rates. Profitable gold trading is done with the application of the analysis methods. It is also possibly filtered with doing a fundamental analysis of gold trading signals where the details will support the historical data.

Gold trading signals
There are so many ways of making a profit from gold. Investing in gold or buying gold means investing a lot of time and effort. Trading in gold means that there is a lot to buy or hold for a long period. Gold trading means buying or selling various times in a small period like a few hours, days or months.
One can invest in gold with just a few US dollars or buy gold in the form of nuggets or coins or by buying a small share in Gold bullion present in secure vaults. Physical gold is also an investment that also involves a lot of problems in storage and proof.
Gold trading allows you to make more frequent and larger profits than one can make with investing and holding gold. This happens even when there are up and down fluctuations in gold prices.
How to trade in gold
When it comes to trading at the gold price, the traders require something quite closely linked with the value of gold. It is worthwhile to note that gold trading signals play a vital role in this.
Options and futures for trading in gold
One of the important ways for trading in gold represents gold through a major and regulated exchange. This needs a deposit of nearly $ 5,000 with future brokerages. This is because the smallest of the Gold futures can expire in just early 33 ounces of Gold. It involves buying or selling just a single contract with a margin to support the trade.
Another alternative solution is to trading shares in ETF which owns Gold and where the price fluctuations mirror close fluctuations in the price of Gold. But, this needs opening an account with brokerage offering direct tradings in stock shares. The stockbrokers generally require a minimum deposit of the few thousand dollars and it also requires charging a sizable or minimum commission spread on every trade. A share of SDPR gold usually costs a person one-tenth of the value of an ounce of gold in US dollars. But this is going to be a truly expensive gold trading method.
Mining shares for trading gold
Buying and selling hare in gold mining companies is another method of gold trading. It involves consideration of various factors like speed, costs, and the minimum deposit required. It also has an added drawback that the value of gold is just one of the important trading factors driving the price for minimum sharing.
Gold trading with forex broker
Gold trading is a fast, easy and practical method of trading in gold. It is cost-effective for everyone who wants to spend a few hundred dollars on Gold trading. Several Forex Brokers offer to trade in spot Gold or the actual price of Gold in an ounce.
Talk to Gold Trading experts to learn more on Gold trading signals and various methods of profitable trading in gold.
submitted by goldtradingsignals to u/goldtradingsignals [link] [comments]

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I ruined my career as a music artist. The years are passing by and the amount of regret and guilt are eating me alive.

Hello everyone.
First of all thank you for reading this and giving attention to my story I'm about to share. I want to mention this is a throwaway account because I feel shy talking about this subject. It is something personal to me.
To give you some quick background information about what's going on: - I'm currently 27 years old while my "career" has ended 7 years ago. In all this time in between, I've had the desire to achieve something similar but so far without the success I had imagined.

Here we go...
  1. When I was 12 years old, I had the desire to become an artist (a DJ/Electronic music artist). I had tons of ambition and motivation and had set my goal for life. From that point in my life I kept pursuing it and put in the hard work to achieve it. It was literally the thing that kept me awake at night. I imagined and visualized my dream of standing on a stage in front of 10k people and playing my own music. I visualized one of my idols supporting me and my music. That was the person I looked up to, the guy who sparkled my fire and inspired me to achieve something similar.
  2. Years went by where I got laughed at on every online forum possible. My music sucked, I was too confident about my thing and people basically told me it was pure shit haha. Yet it did not stop me from pursuing my dream. I was the little kid amongst older guys being better at this music production thing. It was fun to be honest. After 3 or 4 years, when I was around 16 my music got noticed by someone bigger than myself. My music started to get noticed by local clubs and "famous" DJ's. They started playing it every single week in clubs and reached out to me. That's where it all began. Somebody I looked up to emailed me and wanted to make a song together. That's what opened many doors for me. Eventually, it led to releasing (and distributing) a real song under my name and having more support and plays as I wished for.
  3. After a few more musical releases, I got approached again. This time by one of the biggest artists within this scene. I had the luck this scene was very local and everything happened in my country. So we met up. I was a shy little kid who took the train to cross the country to meet one of my idols. This was a big day. I felt like the luckiest and happiest kid alive. A dream coming true. My dream of being a star and realizing my goals didn't seem far away.
  4. Things went well from this point. It took some time but eventually near the time I graduated I was ready and settled to make this my business and job. I was happy, around 18 years old. And I was playing shows around the globe and earning a nice amount of money per booking. The fans and "likes" kept coming in and it seemed like I established some sort of fanbase. This was the life I imagined. My goal seemed reached and I was happy.
  5. As I grew older I started to become a bit more pessimistic or perfectionistic.. or both. There are a lot of fake things going on in the music business and I was not the type of artist who likes to play along with that. I felt real. I spoke real (to my fans, on my social media pages, etc), and I acted that way. I want to mention that at this same period of my life, my family was putting some sort of pressure on me that I should find a part-time job for some extra income. Since I didn't play shows every week, I didn't generate a stable income doing music alone. Yet this was the goal, and this was perfectly possible as almost everyone in my crew was making a living from this. I want to mention that "my crew" was my record label / booking agency where I was part of. I kept believing that this was possible but due the pressure and stress my family gave me I think I started to doubt myself at some point. Although I was living my dream and touring the world, my family didn't push or believe it enough so they would suggest me to find a parttime job. I hated that. Every time they brought that up it made me annoyed because I just wanted to focus on my career and because I knew I could pull this off.
  6. My career was still in a good line at that time. It was also the time I was smoking cannabis. I became an addict. It was something I did on a daily basis and I think it had a negative impact on my behavior and work ethic to produce music. It also had an impact on my social media posts and thoughts about the music industry.
  7. Eventually, everything let to the point where I made a social media post which my label and booking agency didn't like, at all. It was so "off-track" for them that they decided to cancel some of my bookings for that upcoming summer. My post was about justice, and I shared some of my thoughts on the "fake" aspect of this music business because it made me extremely annoyed how people could achieve the same things putting in less work than I did (friends, connections, money..). As my label and booking agency supported those fake activities as well, they were kind of pissed that I shared those honest words in front of my fans online.
  8. Since I was a honest person, stubborn, and perfectionistic, I was like "fuck this" and basically never made contact again with them. Eventually this led to my last booking and then my career died. To this day (7 years later), I still get spotify plays from those old songs, and I still get messages every now and then of people asking what happened and why I stopped making this music.
  9. I would like to mention that my interest for that specific genre was fading away near the time I made that post on my social media. Don't get me wrong, obviously, I would've loved to keep doing it as my job. But personally it just wasn't touching me that much anymore as there were other genres that started to appeal to me more.

Here is an important thing I remember telling my dad at the age of 20, after destroying my career and right before starting some labour work which I absolutely hated. "Dad, I'm going to do this job maximum 3 months before I'm off on another musical adventure in another style!".
So far 7 years have passed hopping jobs and not saving a lot of money. It's only been 2 years I finally been able to quit smoking cannabis. I have made tons of songs in all those years, and removed tons of songs completely from my computer because I hate them at some point and I get angry because of everything.
I get a few plays a month on Spotify with my new musical project but it never really took off. I decided to abandon my previous name and start from scratch because I didn't want any connection to my older project. The closest I got to achieving something big was another famous artist reaching out because he liked one of my songs, but eventually it led to nothing (unfortunately).
I have not played a single show as my new project and haven't got close to being successful or making this my job, at all.
As the years are passing by and I'm slowly starting to realize I'm no longer the "golden boy" (aka the little 13 year old kid with big dreams) it starts to eat me and devastate me mentally. It's a big part of my life and the dream is still alive but it feels like the fire or belief that I will get there is slowly fading away.
There have barely been days that I did not make music but no matter how much I produce or whatever genre or style I try, it doesn't seem to take off.
At this point, and for the last year, or 2-3 years, it has become worse.. I highly doubt every step I take and I feel like I cannot make any decision at all for my musical path anymore. I changed my artist name multiple times and even while writing this post I still think the name isn't good enough and I should start another project from scratch. I basically like a lot of genres and I can't seem to make a choice on what I really wanna go after. The musical world has exploded so much with social media and everything right after my career died and there just seems to be too much choice and things going on. I cannot seem to find the right path and I can't find my fire and ambition like I had when I was younger.
Every now and then I still look back at my musical colleagues which I abandoned 7 years ago and see what they are up to, what the music sounds like and how successful they are right now. It makes me feel worse but some part of me likes looking at it and imagined what I could've become. The fact of seeing them so successful right now and still doing their dream job just makes me even more sad realizing its been 7 years and I'm still living at home, hopping jobs and thinking how to take off on another musical path.
Last year I have met the most amazing girlfriend in the world, and in the meantime I found some other hobbies that I'm passionate about such as trading in forex and doing visuals. But I feel like it will never replace music since that's like my main-quest in life.
If I think about it, being able to do shows again and make an income being a music artist would make me the happiest person alive but there's no way I'm going back to my older project and certainly no way I'm going to knock on the door of my label and say 'Whatsup' after 7 years.
Without a doubt, my behavior and stubbornness led to the most stupid choice I ever made in my life.

Thanks for reading along. I might delete this post later because I feel like I shared too much personal stuff and it makes me insecure. Although I want to admit it felt good writing all of this.
Peace.
submitted by Top-Rub8826 to askatherapist [link] [comments]

What You Need To Know To Get Your Start In The Foreign Exchange Market

You don't need a lot of capital in order to get started. This is one of the reasons why this market is so appealing. With minimal risk, you can start making profitable trades in almost no time at all. Moreover, you can even begin the process of implementing transactions without doing a whole lot of research, particularly if the risk for each trade is low and you have binary options experience and strategies that you can simply roll over.
This, however, doesn't mean that you should simply dive right in before receiving the necessary training. There are definite differences between binary option and currency exchange trading, even though they share a few striking similarities. There are countless factors that can impact currency prices and this makes it important to learn all that you can about foreign events. In a way, it is not unlike entering a high risk foreign market with high profit potential.
In addition to going through the learning process, you have to identify a few worthy sources of information. This is how you will stay abreast of changes in foreign policies and gross domestic products among other things. The more international information you glean from a reliable source, the easier it will be to predict the price movements of your selected currencies with accuracy.
The next step is to use a trade simulator. This is a platform that lets you implement trades without actually risking any cash. It gives you the chance to test your sources and see how well your trading theories will play out. It also allows traders to test out different trading strategies in order to identify the ones that they're most comfortable using.
Your risk tolerance is very important in this market, just like it is in any other. Try to find out exactly how much risk you can comfortable take on before you start making irrational decisions. Understanding and honoring risk tolerance is always key for maximising your profits.
Start by searching for a few reputable option in training for Forex trading online. The learning process is an ongoing one and thus, it pays to look for a progressive and long-term program that can accommodate you continued growth. This is the market that never closes and thus, once you're ready to start trading profitably, you can earn money non-stop.
submitted by jeffout to ForexRated [link] [comments]

I need to vent about quarantine

Hi everyone I just need to vent and get everything off my chest from quarantine because my mom doesn’t understand. So I’m 18 years old a senior who GRADUATED this year so no prom or graduation school ended as soon as baseball season began my favorite sport. And now that things are opening up again and people and my friends are going places I can’t go.
I understand why I can’t go because I do have a compromised immune system from having a kidney transplant and taking medicine but at times being in the house gets to me. Especially when you see your friends out having fun going over each other’s houses playing sports and they don’t even offer to invite you because they know what that answer is gonna be. I’m losing friends because there’s people I haven’t talked to since school ended up nobody dare checks up on me but I do to everyone else.
I decline FaceTime calls from my group chat friends and I know some of you might think oh your stupid why are you declining the call but I do because they can all laugh and have a good time and say what’s the move and I don’t say anything or they could ask me can you come and I have to say no. Then my friends are also getting jobs so they’re gonna be making money but I’m just sitting on my ass at home and my mom said I can’t get a job until all of this is over whenever it is. And I know some of y’all will say why not start an online business or learn how to do Forex trading or something I don’t have the patience to wait I would rather just get a normal job and get paid immediately.
Then my mom watches nothing but CNN and just gets more paranoid by the day and even told me after this is all over I’m still not letting you go out because how do I know it’s gone. I haven’t been allowed to go into a grocery store since February haven’t gotten my haircut since March and my mental health is just going down. I feel that nobody cares about me not even my mom nobody understands what I’m going through and whenever I ask her can I go somewhere just for fun it turns into an argument and me just wanting to explode and me throw and break everything in sight.
I hate social media now because I hate seeing people live life but I’m stuck in my own house as a prison.
I’m just tired of quarantine I want it to end before I end up doing something I regret and my mental health gets worse.
Update: So yesterday me and my mom had a fight and it wasn’t good.
This is what happened my friend invited me to his cookout tomorrow and said I can also spend the night and he said that nobody has been out of his house and I told my mom and she was like heck no and started ranting and stuff so I asked again and she said no so then I got mad/upset and went downstairs and I was mad so u could see it on my face and then she was like idky ur mad and all this other stuff and was like if u have an attitude you can go stay at Ashley’s(my sister) for the night and then when u get mad u start to cry so then she was like idc if ur crying and I don’t feel sorry for u do u think ur the only one who’s going through this and then was like ur making me mad and she went upstairs
submitted by Shon1021 to offmychest [link] [comments]

I just need to vent about quarantine

I need to vent about quarantine
Hi everyone I just need to vent and get everything off my chest from quarantine because my mom doesn’t understand. So I’m 18 years old a senior who GRADUATED this year so no prom or graduation school ended as soon as baseball season began my favorite sport. And now that things are opening up again and people and my friends are going places I can’t go.
I understand why I can’t go because I do have a compromised immune system from having a kidney transplant and taking medicine but at times being in the house gets to me. Especially when you see your friends out having fun going over each other’s houses playing sports and they don’t even offer to invite you because they know what that answer is gonna be. I’m losing friends because there’s people I haven’t talked to since school ended up nobody dare checks up on me but I do to everyone else.
I decline FaceTime calls from my group chat friends and I know some of you might think oh your stupid why are you declining the call but I do because they can all laugh and have a good time and say what’s the move and I don’t say anything or they could ask me can you come and I have to say no. Then my friends are also getting jobs so they’re gonna be making money but I’m just sitting on my ass at home and my mom said I can’t get a job until all of this is over whenever it is. And I know some of y’all will say why not start an online business or learn how to do Forex trading or something I don’t have the patience to wait I would rather just get a normal job and get paid immediately.
Then my mom watches nothing but CNN and just gets more paranoid by the day and even told me after this is all over I’m still not letting you go out because how do I know it’s gone. I haven’t been allowed to go into a grocery store since February haven’t gotten my haircut since March and my mental health is just going down. I feel that nobody cares about me not even my mom nobody understands what I’m going through and whenever I ask her can I go somewhere just for fun it turns into an argument and me just wanting to explode and me throw and break everything in sight.
I hate social media now because I hate seeing people live life but I’m stuck in my own house as a prison.
I’m just tired of quarantine I want it to end before I end up doing something I regret and my mental health gets worse.
Update: So yesterday me and my mom had a fight and it wasn’t good.
This is what happened my friend invited me to his cookout tomorrow and said I can also spend the night and he said that nobody has been out of his house and I told my mom and she was like heck no and started ranting and stuff so I asked again and she said no so then I got mad/upset and went downstairs and I was mad so u could see it on my face and then she was like idky ur mad and all this other stuff and was like if u have an attitude you can go stay at Ashley’s(my sister) for the night and then when u get mad u start to cry so then she was like idc if ur crying and I don’t feel sorry for u do u think ur the only one who’s going through this and then was like ur making me mad and she went upstairs
Edit: It’s not like I ask to go places I’ve only asked to go somewhere TWICE DURING THIS WHOLE PANDEMIC. The first place was the bowling alley with my friends the day lockdown started which was on March 13th. The second time was yesterday July 3rd other than that I’ve been staying inside and don’t ask to go anywhere. And I haven’t seen any friends since March 13th or family members since June 2nd.
I just wanna get out of the house and feel a little bit of normality.
submitted by Shon1021 to quarantine [link] [comments]

I ruined my career as a music artist. The years are passing by and the amount of regret and guilt are eating me alive.

Hello everyone.
First of all thank you for reading this and giving attention to my story I'm about to share.I want to mention this is a throwaway account because I feel shy talking about this subject. It is something personal to me.
To give you some quick background information about what's going on:- I'm currently 27 years old while my "career" has ended 7 years ago. In all this time in between, I've had the desire to achieve something similar but so far without the success I had imagined.
Here we go...
  1. When I was 12 years old, I had the desire to become an artist (a DJ/Electronic music artist). I had tons of ambition and motivation and had set my goal for life.From that point in my life I kept pursuing it and put in the hard work to achieve it. It was literally the thing that kept me awake at night. I imagined and visualized my dream of standing on a stage in front of 10k people and playing my own music. I visualized one of my idols supporting me and my music. That was the person I looked up to, the guy who sparkled my fire and inspired me to achieve something similar.
  2. Years went by where I got laughed at on every online forum possible. My music sucked, I was too confident about my thing and people basically told me it was pure shit haha. Yet it did not stop me from pursuing my dream. I was the little kid amongst older guys being better at this music production thing. It was fun to be honest. After 3 or 4 years, when I was around 16 my music got noticed by someone bigger than myself. My music started to get noticed by local clubs and "famous" DJ's. They started playing it every single week in clubs and reached out to me. That's where it all began. Somebody I looked up to emailed me and wanted to make a song together. That's what opened many doors for me. Eventually, it led to releasing (and distributing) a real song under my name and having more support and plays as I wished for.
  3. After a few more musical releases, I got approached again. This time by one of the biggest artists within this scene. I had the luck this scene was very local and everything happened in my country. So we met up. I was a shy little kid who took the train to cross the country to meet one of my idols. This was a big day. I felt like the luckiest and happiest kid alive. A dream coming true. My dream of being a star and realizing my goals didn't seem far away.
  4. Things went well from this point. It took some time but eventually near the time I graduated I was ready and settled to make this my business and job. I was happy, around 18 years old. And I was playing shows around the globe and earning a nice amount of money per booking. The fans and "likes" kept coming in and it seemed like I established some sort of fanbase. This was the life I imagined. My goal seemed reached and I was happy.
  5. As I grew older I started to become a bit more pessimistic or perfectionistic.. or both. There are a lot of fake things going on in the music business and I was not the type of artist who likes to play along with that. I felt real. I spoke real (to my fans, on my social media pages, etc), and I acted that way. I want to mention that at this same period of my life, my family was putting some sort of pressure on me that I should find a part-time job for some extra income. Since I didn't play shows every week, I didn't generate a stable income doing music alone. Yet this was the goal, and this was perfectly possible as almost everyone in my crew was making a living from this. I want to mention that "my crew" was my record label / booking agency where I was part of. I kept believing that this was possible but due the pressure and stress my family gave me I think I started to doubt myself at some point. Although I was living my dream and touring the world, my family didn't push or believe it enough so they would suggest me to find a parttime job. I hated that. Every time they brought that up it made me annoyed because I just wanted to focus on my career and because I knew I could pull this off.
  6. My career was still in a good line at that time. It was also the time I was smoking cannabis. I became an addict. It was something I did on a daily basis and I think it had a negative impact on my behavior and work ethic to produce music. It also had an impact on my social media posts and thoughts about the music industry.
  7. Eventually, everything let to the point where I made a social media post which my label and booking agency didn't like, at all. It was so "off-track" for them that they decided to cancel some of my bookings for that upcoming summer. My post was about justice, and I shared some of my thoughts on the "fake" aspect of this music business because it made me extremely annoyed how people could achieve the same things putting in less work than I did (friends, connections, money..). As my label and booking agency supported those fake activities as well, they were kind of pissed that I shared those honest words in front of my fans online.
  8. Since I was a honest person, stubborn, and perfectionistic, I was like "fuck this" and basically never made contact again with them. Eventually this led to my last booking and then my career died. To this day (7 years later), I still get spotify plays from those old songs, and I still get messages every now and then of people asking what happened and why I stopped making this music.
  9. I would like to mention that my interest for that specific genre was fading away near the time I made that post on my social media. Don't get me wrong, obviously, I would've loved to keep doing it as my job. But personally it just wasn't touching me that much anymore as there were other genres that started to appeal to me more.

Here is an important thing I remember telling my dad at the age of 20, after destroying my career and right before starting some labour work which I absolutely hated. "Dad, I'm going to do this job maximum 3 months before I'm off on another musical adventure in another style!".
So far 7 years have passed hopping jobs and not saving a lot of money. It's only been 2 years I finally been able to quit smoking cannabis. I have made tons of songs in all those years, and removed tons of songs completely from my computer because I hate them at some point and I get angry because of everything.
I get a few plays a month on Spotify with my new musical project but it never really took off. I decided to abandon my previous name and start from scratch because I didn't want any connection to my older project. The closest I got to achieving something big was another famous artist reaching out because he liked one of my songs, but eventually it led to nothing (unfortunately).
I have not played a single show as my new project and haven't got close to being successful or making this my job, at all.
As the years are passing by and I'm slowly starting to realize I'm no longer the "golden boy" (aka the little 13 year old kid with big dreams) it starts to eat me and devastate me mentally. It's a big part of my life and the dream is still alive but it feels like the fire or belief that I will get there is slowly fading away.
There have barely been days that I did not make music but no matter how much I produce or whatever genre or style I try, it doesn't seem to take off.
At this point, and for the last year, or 2-3 years, it has become worse.. I highly doubt every step I take and I feel like I cannot make any decision at all for my musical path anymore. I changed my artist name multiple times and even while writing this post I still think the name isn't good enough and I should start another project from scratch. I basically like a lot of genres and I can't seem to make a choice on what I really wanna go after. The musical world has exploded so much with social media and everything right after my career died and there just seems to be too much choice and things going on. I cannot seem to find the right path and I can't find my fire and ambition like I had when I was younger.
Every now and then I still look back at my musical colleagues which I abandoned 7 years ago and see what they are up to, what the music sounds like and how successful they are right now. It makes me feel worse but some part of me likes looking at it and imagined what I could've become. The fact of seeing them so successful right now and still doing their dream job just makes me even more sad realizing its been 7 years and I'm still living at home, hopping jobs and thinking how to take off on another musical path.
Last year I have met the most amazing girlfriend in the world, and in the meantime I found some other hobbies that I'm passionate about such as trading in forex and doing visuals. But I feel like it will never replace music since that's like my main-quest in life.
If I think about it, being able to do shows again and make an income being a music artist would make me the happiest person alive but there's no way I'm going back to my older project and certainly no way I'm going to knock on the door of my label and say 'Whatsup' after 7 years.
Without a doubt, my behavior and stubbornness led to the most stupid choice I ever made in my life.

Thanks for reading along. I might delete this post later because I feel like I shared too much personal stuff and it makes me insecure. Although I want to admit it felt good writing all of this.
Peace.
submitted by Top-Rub8826 to Advice [link] [comments]

Stop-Loss and the Hunger For New Capital

Stop-Loss and the Hunger For New Capital

Stop-Loss and the Hunger For New Capital


Stop-Loss and the Hunger For New Capital


Ever wonder why when you trade your stop gets tagged? Although you put it in a spot where "There's no way price will want to reach my stop level for sure this time"
As a trader, particularly a new trader – I've always wondered why my stops were only tagged for the price of running briefly the area that I've ever so carefully researched ... hit my stop point ..... then move on in the direction of my original study and run to the point where my profit should have been taken.
Everything leaving me wondering ...... In the hell for what did this do??? Obviously this is a common issue that has plagued most traders. At least, I know that I have faced this very problem for years.

What I noticed was that there was a very distinctive pattern going on, and it was repeating itself again and again. I noticed that the traditional supply and demand theory, support and resistance zones, or double top / double bottom trading patterns that I have been told time and time again that price has always covered these regions, was not really a real thing.

The argument had been, ..... Put me into the shoes of the major investment banks vs. the home-trading fighter who was going to conquer the markets every day. If you were a large company with an infinite supply of money and you decided to bring a massive chunk of it into the game, you can't just dump the whole lot into the game and demand all your orders to be filled out at once, then take off the price in the direction you want .... no ..... That is not exactly the way it operates.All these major organizations need to do is pair orders.

And they match that order by sending the markets to areas where liquidity is high .... The stops AKA!

Let 's say you 're evaluating the markets, for example, and deciding that price wants to go higher than an old regular target as it's in a bullish uptrend at the moment. And you see price for the past day, or so, not willing to go any lower.
What looks like a bit of a demand shelf or support level where the demand is all in a nice tight clustered row that just doesn't seem to want to go down and you know for sure this time price won't go under that heavily protected area ..... only for the price to run down quickly and refuse to go up (in this case a long position).
And I started to note that these "secure zones" or places where price is certainly not going to come up / down to be simply used by these large entities as feeding grounds for harvesting liquidity and adding more positions to include them in a larger movement.

They need a lot of money to buy in and just to do so, your sell stop is great. Many traders put their stops below this tight pack range of candles a few pips / ticks / cents believing they 're secure as price obviously doesn't want to come down below them. And most traders have their positions liquidated by the hungry major capital banks to feed the whole push higher than you were originally right about.

And how can you stop this pitfall happening to you is the million-dollar question? There are a few ways to handle this and keep your hard-earned money from being ripped away from you in an moment, which you have at risk in the markets.

Stop-Hunting and the Hunger For New Capital

I found that you would do much better in your trading career if you look at these areas (in the above example a long position) as a chance rather than a safe zone to put your stop. What I mean by that is, anticipate them coming down under those equal lows and try to get far below it instead of getting long above the area of consolidation. Yeah, that means you're going to have to go long when the competition runs against you and I know , I know, it feels really uncomfortable and wrong and goes against all you've been taught ... but believe me that this approach can give you the very best possible entries.
Imagine: getting into the day 's low and riding price action all the way up to the top of everyday scale!!! Wouldn't this be terrific?

Well, if your quantitative skills are timely and your business research tells you to go a long way, then all you need to do is wait for the perfect entry. Let the price build up and create "demand shelf" or support areas for that. Let the market shift sideways and bounce around like a pinball mocking all the other traders who were at the top of these stuff for a long time and put their stops just below them in hopes that the price would not come down and stop them. All the while playing with and holding their emotions on the cliff of –Will this be a winner, or a trade loser? So when price does the unimaginable and runs below the support area and scoops up all the traders stops you can then go long and take part in the glorious upside of being right – and of course make some money doing it.

Notice facile? Well, that is not so. It takes patience and timing and experience to catch all those eager participants who keep their stops on a silver platter for the fat and thirsty banks to suck them up, as the markets normally send price south of the border.
Stop-Loss and the Hunger For New Capital (meme)

You have to define the times of the day when the wrong move is made apparent.
Or when they make that low of the day – typically within the 1st 1 – 4 hours
of the trading day, and I don't mean either when the banks come online at 8 a.m. NY.
I mean 12 am, at the beginning of the day.
So yes you 're definitely going to have to be awake if you like watching
price do its thing and don't trust the process of buying into those down candles.
And use a limit order like me-then go to sleep and trust your overall analysis to be right and wake up to your morning with a nice little start.
But the trick is-where are you going to shop under the lows?

And where does your stop then go when you buy?

Those are all interesting questions that I should seek to answer clearly here – but alas, all markets are different.

Yet general rule of thumb as follows:

  1. You should predict that such stop-sweeps will occur in grades 5 and 10. The average is usually about 10, cents, pips, ticks or otherwise. The bigger the step down the more likely it is not a stop raid and potentially a reversal of the pattern. And you can prevent too much danger and keep the stop fairly secure.
Your stop will need to go low on the 1hr map below the next move. As a minimum, and yes, that may mean a greater risk level that you are usually prepared to take.
However if that is the case then try to turn your power back.
You don't need to make every trade worth a million dollars.
This is about continuity, when dealing, not winning the draw.
In your research you need to be sure the price will push higher as this is how the overall trend directions point it.
I am not recommending trade in these types of trades against the trend.
You need to be in full agreement with the direction of the total daily level.
And bringing it in.

Also, a great way to place the maximum risk reward for your take profit:

Attempt to position it in places above the market where short-sellers will stop.

And in a nutshell, with a bit of analysis, all the knowledge I described above can be readily found, I didn't come up with it on my own and these ideas are not unique. Yet how you adapt them to your particular trading style is up to you and relies on your interpretation of these principles for your success and/or failure. Price is fractal and would want to return to markets it has previously sold before – if you accept the basic fact you ought to be doing very well in your business career.

Eva " Forex " Canares .
Cheers and Profitable Trading to All.

About FTMO -
They fund forex traders. Just Pass their risk management rules and begin trading for their company. They'll provide you capital up to $300k USD for trading the financial markets. 70% of profits you keep and losses are covered by them. How does it work?
How to Become a Funded Forex ,Stocks or CryptoCurrency Trader?
submitted by Eva_Canares to FTMO_Forex_Trading [link] [comments]

Coin24option.com SCAM

📷
I ran across this website coin24option.com from someone claiming that they could flip my $800 into $8000 by trading through bitcoins and currency.
One day I was searching on Facebook for what i don't remember, I came across people saying how this guy Marcosfx was helping people make lots of money. It was about 10 people I saw saying the same thing and they all said to contact him if you would like to make extra money. So my curious self wanted to do some digging to find out if this was really legit.
My website that you are on now is about scams and legit companies to make money from. This will be on my TOP 10 Scam list as number 1. Ok so I contacted Mr. MarcosFX and he responded a few hrs later. He sent me a list of the amounts I can start with and flip the money. I chose the $800 because it sounded good at the time and I had money to blow. I also did it because I was 90% confident it would work. I knew about the currency and forex market and they claimed to do this for you.
Ok so once he contacted me he told me to buy 800 bucks worth of bitcoin and then transfer it into his account which I did. I bought it from someone through Zelle. When you go through Zelle it is almost impossible to get your money back if you have been scammed.
Ok after I did that he told me to give him my information so that he can make an account for me on coin24option.com He sent me the username and password and asked me to watch the account grow. I watched for about 6 days getting excited each day as the account went up 1000 a day. I was for sure that I was going to make me a whole lot of money and had a whole lot of plans on what i was going to do with it. When the last day came around I was trying to withdraw the money but couldn't. He messaged me on Facebook and said that I had to send him 20% of the 8000 before I could get it. I told him why couldn't I just give him the 20% from what was already there. He said it doesn't work that way. Immediately a red flag stood up in my brain. I was being SCAMMED! I tried everything in my power to get my 800 back but he just would not refund the money. I told him I wasn't giving him any more money and that was that. He ended up blocking me and ran away with my money.
I thought I was great at spotting scams before they occurred but this time, I got played! When I did the research on this company the first time I realized I pulled up the wrong company with close to the same name and that company had 5 stars. When I went back to look up coin24option.com there were plenty of people who had already gotten scammed from this company.
The only thing I could do was file an online scam report, but I still was not able to get my money back.
When you go con scam24option.com the site looks very professional. But at the top, it says it's not safe. They have a live chat there but no one ever answers the chat. All of the reviews and people they have listed as working for them are fake. I hope who is behind this site rot in hell for all of the money they have stolen from innocent people.
If you are reading this I hope I saved you from this SCAM. IF you are looking for a legit way to make money online you should check out www.moneyallthetime.com/best also if you want to learn Forex and trade yourself without having to lose any money then join the academy. CLICK HERE
I hope this helps, and if you have had a bad experience with this company please leave your comments.
submitted by legendarymarketer to u/legendarymarketer [link] [comments]

Is Overnight Millionaire by Wesley Virgin a scam?

(Some personal background, TLDR at the end)
Hi, I'm a 19 years old and I have a few objectives in my life I want fulfilled, I want to go to college and take a Computer Science course, I want to raise a family and all that sort of stuff. I am taking all the steps to go to a good college, the thing is I need to finish highschool with a good grade and I'm currently working on that.
About family and that, I have a girlfriend and we used to be perfect for each other but since I started working on a market to raise some money for the future I have no time for her, two days a week maybe one and she lives 20/30 minutes away from me, she can't find a job and she has been having health, money and mind state issues, she has been anxious, sad.
I have this vision for the future where we live in a decent/good house because I want to provide good conditions for both her and our kids (when we eventually have kids). We even have a dream family car and some travels we'd love to do. Recently we made one to the capital of my country and although it was poorly planned and we missed a few things we wanted to see I think it was good for her and for me as well since I have been working full time from 3PM to midnight and then some days of the week I have classes in the morning, I have been physically and mentally tired and it helped me relax a bit and spend some time with her.
The thing is, this job pays me the minimum salary allowed in my country which is very low, and I'm wasting 8hours a day which I could be using to do more productive things like study for school, spend time with my girlfriend and family, invest in my future because since I like computers I study a lot of things from programming languages to other things like image editing and stuff.
I want to quit my job but I also need the money, and that is the reason why I want to grow rich. I've been learning how to invest money and I still need to learn a lot more because I need to make loads of passive income which is not that easy. I thought about P2P, forex and stock investment, I thought making an online course and even Fiverr. If you guys have suggestions feel free to tell me.
I was always a positive person but lately, work, school and this issues with my girlfriend have been stressful and I became more negative. I found this overnight millionaire program by Wesley Virgin which helps you find a good mindset for financial growth, in the presentation video I felt like I needed to buy it and he explained that the mindset is about making yourself sure that you WILL do this, and now that's what I've been doing, I'm sure I'll become a millionaire and I have to set some goals even if they don't look very reasonable.
However, the course seems to have a lot more valuable content but I'm a little bit worried about it. I've been playing around with computers since I was 8 so I know that many people try to scam others on the internet a lot. So here I am asking if any of you guys know about whether the course is legit or a scam.
(I know that maybe it sounds like I'm dreaming too high but also I'm aware that the more money you have the more you will receive if you invest and also the sooner you invest the better so that's why I'm doing my best right now)
TLDR: I want to know if Overnight Millionaire program by Wesley Virgin is legit or scam?
submitted by typicalBACON to millionaire [link] [comments]

I need to vent about quarantine

Hi everyone I just need to vent and get everything off my chest from quarantine because my mom doesn’t understand. So I’m 18 years old a senior who GRADUATED this year so no prom or graduation school ended as soon as baseball season began my favorite sport. And now that things are opening up again and people and my friends are going places I can’t go.
I understand why I can’t go because I do have a compromised immune system from having a kidney transplant and taking medicine but at times being in the house gets to me. Especially when you see your friends out having fun going over each other’s houses playing sports and they don’t even offer to invite you because they know what that answer is gonna be. I’m losing friends because there’s people I haven’t talked to since school ended up nobody dare checks up on me but I do to everyone else.
I decline FaceTime calls from my group chat friends and I know some of you might think oh your stupid why are you declining the call but I do because they can all laugh and have a good time and say what’s the move and I don’t say anything or they could ask me can you come and I have to say no. Then my friends are also getting jobs so they’re gonna be making money but I’m just sitting on my ass at home and my mom said I can’t get a job until all of this is over whenever it is. And I know some of y’all will say why not start an online business or learn how to do Forex trading or something I don’t have the patience to wait I would rather just get a normal job and get paid immediately.
Then my mom watches nothing but CNN and just gets more paranoid by the day and even told me after this is all over I’m still not letting you go out because how do I know it’s gone. I haven’t been allowed to go into a grocery store since February haven’t gotten my haircut since March and my mental health is just going down. I feel that nobody cares about me not even my mom nobody understands what I’m going through and whenever I ask her can I go somewhere just for fun it turns into an argument and me just wanting to explode and me throw and break everything in sight.
I hate social media now because I hate seeing people live life but I’m stuck in my own house as a prison.
I’m just tired of quarantine I want it to end before I end up doing something I regret and my mental health gets worse.
Update: So yesterday me and my mom had a fight and it wasn’t good.
This is what happened my friend invited me to his cookout tomorrow and said I can also spend the night and he said that nobody has been out of his house and I told my mom and she was like heck no and started ranting and stuff so I asked again and she said no so then I got mad/upset and went downstairs and I was mad so u could see it on my face and then she was like idky ur mad and all this other stuff and was like if u have an attitude you can go stay at Ashley’s(my sister) for the night and then when u get mad u start to cry so then she was like idc if ur crying and I don’t feel sorry for u do u think ur the only one who’s going through this and then was like ur making me mad and she went upstairs
submitted by Shon1021 to sad [link] [comments]

Running a ponzi and stealing $180K, IRL.


I wanted to write a quick post in answer to the people who routinely make claims I have a history of stealing from people in my previous company and base this upon a blog they read. If you would like to discuss this further, please make a post and link it to me to engage on. I will do so as long as we deal with the facts of how a PAMM company really works.
I won't engage in circular debates where the essential point is, "I don't believe you". You don't have to - that's not how any of this works. Just fact check.

Anti-SEO:

I want to avoid Google ranking on this post. Although for my personal 'PR' it would be beneficial to aim to rank something answering claims, at some points in this some others involved in the company will not really come over in the best light. I assume it's likely these people are still involved things (Not spoke with them for 5 yrs) - It'd be unfair to rank bad PR on them.

The failure of the company was squarely due to me. Anything anyone else did either would not have happened or not have mattered if I'd done better. I do not want anything I do now to further hinder anyone.

So I will refer to names by only one letter (or number if applicable).

Ponzi Claims:


I found it strange at the time this ended up centred around the ponzi scheme side of things. There was a reasonable question to be asked and answered as to if it was a pyramid scheme. Were people signing up just to sign people up, or was there a core product of fair market value. The services sold I'd previously ran at the same sort of price point direct to market - so I felt on fairly good ground on that.
Initially I's actually been a bit excited initially, because I was a reader of the blog in question and I liked the work they'd done on pyramid schemes. I thought I'd be able to either validate I was doing things right, or learn how I should be doing them better. I never thought the ponzi side of it would take any more than a few minutes to clear up. But that was not so ...
A ponzi scheme was to all intents and purposes impossible. All of our business was done via three different brokers and all of our results publicly tracked with close to real time updates for marketing purposes. Of the three brokers we were using, two of them had good regulation. An off-shore broker had to be used for US clients, so this is the only one with any sort of question mark.
All of our results over all the brokers were almost identical (Some execution/costs variance). The two regulated brokers were under different regulators. Most, if not all, the brokers held clients funds in segregated accounts. All brokers would have to have been fully complicit in the scam - and it costs more to get regulated than there was to steal. Logically, it could not have been so.
We were using a PAMM model. This works by the client opening a brokerage account and signing a LPoA to allow trades to be copied onto their account. The LPoA grants the company no access to the funds. Money laundering laws also dictate the funds can only be redeemed to same source they were funded. PAMMs are big business. Protection of all parties is built into it, it's a well trusted model.
This should have taken no less than 5 minutes to self verify. It could not have been a ponzi.

£50,000 Fine:


That happened. Turns out if you set up a PAMM in the Netherlands and then let a bunch of people refer investment to it this is classed as running a ... I can't remember exactly and even at the time it was in Dutch so I didn't personally read it all. The underlying problem was not the model in any way. We were told at the time we basically jut had to pay £2,000 for each country we did business in.
We were global. At this time the company had neither the money to do that, or pay the fine they gave us for not having the money to do that.
My mistaken assumption was that since when you run a PAMM you are basically piggybacking off the broker's licence, all was well and good. This was true - but the problem was sourcing. Paying people to refer investment was what we were fined for when you get right down to it.

$180,000 Stolen:


This was just a headline. In many ways it's misleading. Firstly, nothing was stolen or even taken. It was lost or given away to clients who'd lost in the PAMMs that went bad. All the money lost was lost trying to get enough money to make good all the PAMMs. So it was not stolen, and there is nothing in anyway to imply that's a suitable word to use. In the blog, no explanation of that is offered.
What seems to be inferred is that this was commissions due out to clients that the company kept. Even outside the above mentioned this would be wrong. All affiliates were paid. You will not find a single one who says they were not. Further to that, of all the funds invested into the company (We'll call the company '5') somewhere in the 60 - 70% range was sourced directly by me.
Other funds were sourced by my co-founder. Investments were made through passive advertising without them being attributed to a refer. All in all, assuming we did not pay the affiliates and we had this much, $18,000 would be the number. Of the $180,000 somewhere a bit over $100,000 would have been mine. I never took that, and could not have "Stolen" it.
I don't see the point in getting super technical on everything by going through how, but the number also probably wasn't $180,000. I think this was an overestimate made in a throw away comment by my co-founder (We'll call her 'M') who was (Justifiably) extremely angry at me at the time she came up with the number and added it in a post (Of this multi paragraph post, this one line and one number was taken - if memory servers, all context was left out when the blogger cited this as stolen. Which would make sense. The post was berating me for losing the money. That didn't fit the narrative.

What Backs the Story?

Of all of the claims of wrongdoing (Apart from the fine, which is documented and true) - there is no evidence proposed for any of the claims made. All of it hinges on a story told to the blogger by one person, who was another of my co-founders 'We'll call her 'E'. E was either a late teenager or very early 20s at the time.
In the founding of 5, E was essential. Before 5 I'd been running a service selling trading signals and selling them at $5 a week subscription. I was generating a lot of business (Working all day, every day and having fun with it. Like I did here for a while, but at that time I really was marketing). 5 - 10 people a day could be signing up.
I knew nothing at all about how to structure an online business. No listing of new clients to send emails. Nothing about making membership sites with password access etc. I was working off a Wix site I made myself with no on-boarding system in place. The volume of people joining was crushing me. I could not process them and was getting a lot of PayPal disputes.
I wanted to send them the stuff. Just did not have the process to ensure this was being done. E stepped in and saved me on that. She made original 5 website (On Wordpress, I believe it was later upgraded to something else). Set up memberships payments. Automated listing. Also she suggested changing the name to what the company became. E made the work I was doing work.
After that, she had varying performance. Her gripe in the blog is she was not paid for helping to found the company. Left out of this is the fact she was not paid because she was head of marketing and we were not getting enough clients. Almost all of them coming from me hitting the DMs and signing people up the old fashioned way.
On results of trading, everything was going well (and this was my area). Things were going so well people legit through it must be a ponzi! But we did not have in-flow of clients. On this I again blame myself. I sort of assumed this would all work itself out and did not put focus on fixing problems before they became problems.
There was a lot of pressure on everyone. E got into a new romantic relationship. I think she was heavily influenced by this person (I found E to be good hearted on the whole). E and M started to get along less and less. Then E and M seemed to hate each other. It all seemed to come from nowhere, but it quickly got to the point me and M felt it was not working with E, and she thought the same.
Pretty much everything is based upon the story told to the blogger by E. As I've said before I found her to be a good heart overall and believe she was influenced into doing what she did, and would not have done it on her own gumption. Therefore I won't rip into her; but if you're reading, 'E' (Won't be lol) - that was a bit naughty, wasn't it? Little 'Economic with the truth'.

Why would the blogger post such big claims with no evidence?

People should ask themselves this on the first read through of the blog, to be fair. If you're a single source reporting on a story - tell how you know it's true. I think this mainly came down to revenge. After the ponzi thing I wrote blog line by line ripping the initial blog to bits. It was written in a very cheeky sort of tone, and what I was saying was right.
He then played, "My blog's bigger than your blog" , on which he was right.

If you think there is some smoking gun here in any way, just email the blogger and ask them how they know. What evidence were they ever given any money was stolen. There was none.

Money taken from the company:

In it's sad and drawn out end, cash on hand and assets within the company got down to around $10,000 and we were due out over 10* this to clients who I wanted to pay back. I was not bringing in new business (It seemed unethical to do until I fixed old problems - this was a miscalculation. No business was the big problem) and there was the 50K fine.
The company was essentially bankrupt. I wanted to use the remaining 10K to have one last ditch effort to re-coup losses, or randomly select clients to pay the 10K to. M didn't. At this time we fell out (Forever). I have no idea what happened to that 10K. I think M probably kept it. At the time I was livid about that - but to be honest, after all the work she did she deserved something. Losing was not her fault. To 'M' if you're reading (Won't be), I'm sorry.

What went wrong?


I was not good enough. When I got ahead I thought I was coasting. I came from a background of having nothing and as soon as I started to make a few grand I assumed I was gliding to being a millionaire. I stopped learning. Stopped improving. I never watered what I planted, and it withered and died.
I fail. Turns out you can not coast up a learning curve without ending up on your arse.
submitted by 2020sbear to u/2020sbear [link] [comments]

Back pain and work in construction

Before 5 months I came in different country in order to get a better life. My uncle and my aunt have been living there for 30+ years, so I was really happy when they accepted me to live with them. Pretty much in my country I have 1 year of experience in working in forex center, but as what you suppose it’s not really useful in the current situation. So my uncle is super cocky and rude person, really intelligent and always sarcastic with me. He never accepted me as a part of the family and have never treated me like a relative. In my whole life he was telling me to give up my dreams, because with dreams nobody succeeded and says that I probably am saying to myself I will succeed, but this is not how it works, he says. I’ve always been determined to myself, always wanted more and always wanted to be well educated and as well well informed. He is dream killer, killed my dreams with the football, when I was 13 he said that already boys at my age were seen by scouts, so they will play big football, but not me, he killed my dream back then, even though I started since I was 5, I stopped at 17 though, but it was always on my mind. As well in my last job he was saying that nobody become rich from working in forex centers, so I better quit and do something with my hands. I don’t know why he is like that. Anyway, I said he changed and he really wants to help me out, he is giving me a roof, so I am thankful for that. So he has pretty big firm here in Scandinavia and there are 50+ working for him, he is pretty cool with them. I never really enjoyed that job, even though I was doing it. So before a month super bad pain comes in my back. It’s really back, I couldn’t barley walk. He said I am looking for excuses and I should not stop. I went to doc and therapy and they said it’s not good for me to continue doing it, because I have some kind of displacement of my tibia and I need therapy, as well I have something in lower back, which also requires therapy, so the therapist said that at least one or two months I should not go for that job. I asked my uncle and he said I will do something not that heavy, but our working hours are insane, we start at 7 and we finish around 8, and on the final it’s the same pain. So I took a week off and yesterday I asked him should I go to work tomorrow he replied ,, do you have anything better to do here? ‘’ So I am at work again, again in disgusting pain. As well because we live in Scandinavia I decided to start online lessons for the language, because I am really determinnetdd to learn the language, he said it’s a waste of money and I don’t need it, he even started shouting at me why I did it and that I will eventually learn it. How am I supposed to learn it when I don’t have to be around local people who speaks the language and with that job, only with people from my country? I need an advice what to do, as well how can I start something online, so I can make a living here without that? Finding another job is not an option, because I don’t know the language and pretty much everybody do speak English. I am desperate and I really don’t know what to do at that very moment. M 19
submitted by gaborsof to Advice [link] [comments]

Need Help With A Strategy

Hi there. so first off a little background information, I am currently 16 years old and I got into forex trading about 6 to 7 months ago. I've spent the past few months doing the babypips course as well as taking online lessons to learn things such as harmonic patterns, support & resistance, using fibs and stuff like that. Along with this, I've been trading on a demo account with pepperstone to see what kinds of strategies work for me, which is mostly scalping as well as trading on the 15m tf. But here lies my problem. I want to move on to a live account, which, as recommended, obviously means I'm going to need a strategy. I've experimented and tried to find what works for me and I've understood very well what environment and timeframe I like to trade on, but I'm unsure how to form a strategy which I can follow and play by. I've tried multiple strategies such as the 3EMA(8,13,21) strategy on the 15m tf as well as strategies based on indicators, but nothing seems to work. Everything I try works for about 2 to 3 days, but eventually turns around really really fast. I was wondering if anyone could help me or give me tips on how to, or rather, the steps to building my own strategy. I decided to come here as I browse this subreddit a-lot and I've met and seen some of the nicest and most humble people here, hence coming here and not going to some baby pips forum. Any help is appreciated, thanks so much if anyone replies!!!

EDIT : Hey guys so I have in fact gotten the advice I was seeking for, and like I mentioned below, I was practicing S/R over the weekend and tried planning ahead for this once, these are my profits for today with only half the knowledge as well as half the time due to school as well as no strategy. So I'd say pretty good returns on a 200$ demo account with 1:500 leverage who gets barely any time to trade....and is testing a strategy. Anyways, thank you so much to those who responded and helped out!!!!
submitted by shlokilimanjaro to Forex [link] [comments]

Need to vent about quarantine

Hi everyone I just need to vent and get everything off my chest from quarantine because my mom doesn’t understand. So I’m 18 years old a senior who GRADUATED this year so no prom or graduation school ended as soon as baseball season began my favorite sport. And now that things are opening up again and people and my friends are going places I can’t go.
I understand why I can’t go because I do have a compromised immune system from having a kidney transplant and taking medicine but at times being in the house gets to me. Especially when you see your friends out having fun going over each other’s houses playing sports and they don’t even offer to invite you because they know what that answer is gonna be. I’m losing friends because there’s people I haven’t talked to since school ended up nobody dare checks up on me but I do to everyone else.
I decline FaceTime calls from my group chat friends and I know some of you might think oh your stupid why are you declining the call but I do because they can all laugh and have a good time and say what’s the move and I don’t say anything or they could ask me can you come and I have to say no. Then my friends are also getting jobs so they’re gonna be making money but I’m just sitting on my ass at home and my mom said I can’t get a job until all of this is over whenever it is. And I know some of y’all will say why not start an online business or learn how to do Forex trading or something I don’t have the patience to wait I would rather just get a normal job and get paid immediately.
Then my mom watches nothing but CNN and just gets more paranoid by the day and even told me after this is all over I’m still not letting you go out because how do I know it’s gone. I haven’t been allowed to go into a grocery store since February haven’t gotten my haircut since March and my mental health is just going down. I feel that nobody cares about me not even my mom nobody understands what I’m going through and whenever I ask her can I go somewhere just for fun it turns into an argument and me just wanting to explode and me throw and break everything in sight.
I hate social media now because I hate seeing people live life but I’m stuck in my own house as a prison.
I’m just tired of quarantine I want it to end before I end up doing something I regret and my mental health gets worse.
submitted by Shon1021 to Vent [link] [comments]

An Honest Review of T3 Newsbeat Live

T3 Newsbeat Live is run by Mark Melnick, a 20-year veteran trader from New York. According to him, he made his first million at the age of 19 during the dot-com boom back in the late 90s.
He claims that his trading room is the fastest growing trading room at T3 and also the Wall Street’s #1 trading room. You can see this in the description of his videos on Youtube.
He is a big proponent of reaching the highest win rate possible in trading. He openly shares some of his trading strategies in free videos and claims that some of his strategies are batting over 70% or even 80 %.
He also often says that some of the members enjoy a win rate over 90% using his strategies.
I will let you be the judge of this.
Self-Promotion
He makes a lot of videos to attract new people into his trading room. His daily videos are uploaded on Facebook and Youtube almost daily even on Weekends (mostly excluding Friday evening & Saturdays).
In so many videos you’d hear him talking about how his trading room has an edge over other trading rooms while bashing other trading rooms as a whole.
He often talks about how his trading room bought stocks/options at the near bottom or shorted at the near top using his “algorithmic analysis” which can be applied to all markets (stocks, future, forex, crypto).
Piques your curiosity, right?
In fact, that’s how I got to give his trading room a try.
“Who in the hell wouldn’t want to catch the top & bottom in the markets, right?”
So, you would think people in his room and himself are making a killing using his algorithmic analysis?
Not so fast… (in fact, his algorithmic analysis is just drawing trendlines and identifying the most probable support and resistance)
When it works (of course, nothing works 100% of the time), you are able to catch just few cents off the top and bottom when it works if you follow his trade.
However, you have no idea how long you’d have to hold your position. Mark doesn’t know either.
So, he usually goes for nickels and dimes and rarely holds a position longer than 5 minutes.
Even if he’s good at picking bottoms and tops, you’d often risk more than nickels and dimes just to make nickels and dimes. Make sense, right?
…….
…….
…….
Also, because he gets out of his positions fast, he misses out on riding some potentially big trades.
Oh, how I wish stay in that position a bit longer. He doesn’t say but one can surmise that he often leave too much on the table.
Of course, it’s important to take your profit fast when you scalp but you consistently leave too much on the table like he does, one has to wonder if he has any system for taking profits (otherwise, it’s all discretionary guessing).
This type of bottom/top picking is not his main strategy, though.
The strategy that makes him the most amount of money might surprise you. I will get to this later.
How Mark Trades (Mark’s Trading Setups and Strategies)
Mainly, he scans the market in the morning for earnings reports, analysts’ upgrades/downgrades and other catalysts that have potential to make moves in the market.
He openly shares his mockery or insult of analysts, calling certain analysts “idiots” or “imbeciles”.
He puts on his first trade(s) early in the morning (from 9:30AM to 10:00AM Eastern Standard Time) when the market move is the most volatile.
Some of his strategies use market order during this period of volatile time using options. You can see why this can be very risky and especially on thinly traded options with side spread.
He does point out this but sometimes you hear people in the room stuck in an options position that they can’t get out.
Just like his trades from calling the top/bottom of a stock, he gets in and gets out of a position within minutes if not seconds while going for nickels and dimes while staring at 1minute and 5-minutes charts.
That applies to most, if not all of his strategies. (Yes, sometimes he does catch bigger moves than nickels and dimes.)
When you trade during the most volatile time in the morning, you’re subjected to wild moves in both directions. If you’re overly prudent or inexperienced in trading, your stop (unless very wide), has a very high chance of hitting. A lot of times it might stop you out and go in the direction that you predicted.
So, when you’ve been trading during this time, you’d probably don’t set a stoploss order or a hard stop to avoid getting fleeced.
You do have to be proactive at cutting your loss as quickly as possible. Otherwise you’d find yourself scrambling to get out your position while the bid keeps dropping.
I have to say that Mark is very cautious and he does get out of trades very fast if he has doubt.
A lot of times he lets out exhausting, heavy sighs and even murmurs some swear words when things don’t seem to go the way he wants in a trade. Besides calling certain analysts, “imbeciles” and “idiots”, this is quite unprofessional but no one in the room has the gut to point things out like this.
The irony is that he is the “head of trading psychology” at T3 and it doesn’t seem like that he doesn’t have much control over his trading psychology and let alone his emotion.
People in trading chatrooms, like a herd of sheep, as a whole exhibit herd mentality. Even in an online chatroom, you don’t often see someone ruffling feathers and say what they really want to say.
This is probably because of the certain amount of people believing whatever he says without questioning the validity and quality of his comments.
He has several strategies and according to him all of them have win rate over %70.
However, he also comes up with new strategies as often as every month. He either comes up with new strategy or tweaks his existing strategies.
According to him, the reason is that the market is always evolving and you need to constantly adapt yourself to the ever-changing market environment.
What do you think? Does this sound like someone with an edge?
And for someone who scalps for nickels and dimes, he claims to have the highest Sharpe Ratio that he has ever seen in the industry. I’m NOT making this up. He often utters remarks like “My Sharpe Ratio is one of the highest I’ve seen in my twenty-year trading career.”, “I want to create a of traders with a very high Sharpe Ratio.
How can you achieve a high Sharpe Ratio when you scalp all the time?
And let’s not even talk about commissions generated from frequent scalping.
Who cares about commissions when you can be a scalper with high Sharpe Ratio?
Now, I want to talk about something controversial about his most profitable strategy.
Chatters
According to him, he makes the most amount of money using what he calls “Chatters”. He admits he bets on this kind of trades heavily.
His chatter trades are based on the “newsflow” of big funds making a move in certain stocks and piggybacking on the same trade before others catch on.
No one knows how he exactly gets his “newsflow” and he doesn’t give a straight answer when asked.
Maybe he pays a lot for this kind of information or maybe it’s given to him for free. Who knows?
But it makes sense. The name of the room is Newsbeat Live. Without this the name wouldn’t be the same.
This is probably the only real edge that he has and it’s understandable that he doesn’t want to reveal how he get this kind of newsflow and from where.
By joining his trading room he’ll make a callout on these trades for you to take advantage of.
In order to do this kind of trade, you have to be very quick on your trigger finger.
Almost always the initial move is done within a couple of minutes, if not seconds. If you get in late, you find yourself a sucker buying at or near the top.
Also, because you want to get in as soon as you hear his “chatter” announcements, he advised people to get in within 5 seconds of each chatter announcement and use market order to get in. He said that if he had a small account, he’d bet 100% on this kind of “high-octane” chatter trades and get in and get out fast for “easy” money.
This was how chatter trades were done
…Until one they when many people got burned badly.
Back in September or October of 2019, a lot of people in the room lost a lot money because they market ordered call options contracts on a chatter trade.
The spread on that trade was something like BID: 0.5 ASK: 5.00 few seconds after he announced it.
I didn’t take that trade. No way, I’m going to buy something that has a spread like that.
If you’ve been trading options you know that this kind of spread can happen. Many people that day in the room marketed-in on the trade, taking the offer at ASK.
They found themselves buying at $5.0 per contract when someone probably bought the same contract at $0.40 or $0.50 just few seconds ago.
Someone walked away with decent profits on that trade.
This was the biggest trading chatroom fiasco I’ve ever seen.
People in the room grieving and throwing numbers of how much they had just lost. 10K, 20K, 30K and even $60K.
Could it be also that someone who lost more and didn’t want to talk about it because it’d hurt too much? And how embarrassing to talk about such a loss. I give credit to people who spoke up about it.
People were obviously distressed and what did Mr. Mark Melnick do at this moment?
Initially, he didn’t say much. But what he said he was going to walk away from the trading desk to clear his mind.
It took a while for him to come back and he mentioned that it hurt him a lot that people lost a lot of money and encouraged people not to hesitate to contact him.
I don’t think he ever said anything about that he made a mistake insinuating to load up on chatter trades. No apology since everyone who took the trade did it at their own risk. He advised people to reach out to their broker and do whatever it takes to get their trades annulled because the market makers in that trades were despicable crooks and evil.
But let’s get one thing clear. Perhaps the cold hard truth.
Since Mark is the one who announces chatter trades. he basically frontruns everyone who gets in on these trades after him. There were times when he doesn’t take his own chatter trades and lets the room have it.
But when he does, it’s a guarantee win for him.
He has some sycophantic followers in his trading room and these people are always hungry for chatter plays. I can imagine drooling over the idea of next chatter trades.
It’s human to naturally seek the least path of resistance and this type of trade requires no skill but having fast trigger finger and a platform that allows fast execution.
By taking his chatter trades, you are most likely to make money as long as you act fast to get in and get out.
The thing is, you don’t know when it’s exactly the next chatter trade is going to happen.
If you take a bathroom break, you just miss it. If you take a phone call or answer a door bell, you just missed it.
So, it requires you to be glued to your monitor(s) if you want to make the most of your subscription.
So, we went over Mark’s most profitable strategy. But wait we haven’t yet to talk about his overnight swing trades.
Mark’s Swing Trades
His overnight swing trades jokes. Yes, jokes.
A lot of his overnight trades are done just before earnings announcements when implied volatility is at the highest.
You’ve ever bought a call option just before earnings, predicted the right direction but only to find out that you still lost money next morning? This is because of the implied volatility crush post earnings. A lot of people new to options don’t know this and get taken advantage by veterans this way.
I don’t know if Mark knows or not but I witnessed him buying options this way. I think he understand the concept of implied volatility but why he gets on such trades is a mystery.
I haven’t exactly checked the result of all of his swing trades but I wouldn’t be surprised if people lost more money following his swing trades than anything in the room.
Final Word
Mark offers “free-consultation” on the phone for people who struggle in their trading.
He said that he takes a lot of phone calls but often you’d get the feeling that he is distracted, unable to give an undivided attention for his consultation.
“How would you like to get on a free consultation with a millionaire scalper who can take your trading to the next level?” Appealing isn’t it?
But would you want to get on the phone with someone who is going to give a consultation, even if he or she is distracted?
Oh, it’s a free consultation. Ok, why not? What do I got to lose?
In his videos, you’d hear him saying that he cares for everyone in his trading room and considers them as part of his family. And he runs the trading room out of his good heart and intention more than making money.
Besides he says that he makes more money from his trading than running the room.
My suggestion is that you have a look and you’d be the judge.
He does hold “open house” for his trading room from time to time.
Also, I believe that if you try his trading room for the first time, you try it for a month for about $50. As for me, he’s just another front runner using his trading room to profit with a bad sense of humor and exaggeration that make you cringe.
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