Hey All, I've been learning a lot about Forex through some demo trading and mba classes and curious what types of careers are out there related to Forex. If any of you have these roles too, what do you do and what does your day to day look like?
Hello guys, thanks for spending the time to read this and i hope you can spare me 5mins of your time. I'm a student currently taking a double degree in Banking and Finance. I started Forex a year before starting my double degree and I've always aspired to work in a career relating to Forex or just trading as a whole. I love analyzing charts and predicting movements, but that is as far as i can go. I'm really dying to learn Forex fundamentally on a more intricate level and along with that mindset, a career in Forex or trading in the future. I love the thought of being able to understand how everything links together and how news releases, speeches, interest rates etc causes movements. However, me being the dumbass i am. Decided blindly that a degree in Banking (aspiring to be a trader in a bank) and Finance (just cause its Forex) is the way to go. I understand that Economics is vital and crucial in the Fundamental aspects of Forex and i guess i didnt do enough research and overlooked the fact that a degree in Economics is available as well. So here i am, kinda screwed. I'm just really clueless and overwhelmed as a career as a 'trader' is so broad. Hedge fund traders, prop traders, investment banking etc. I don't really know what my ideal career is per se, as all i wanna do is understand fundamentals, analyze charts and predict. I'm also really confused and lost as to whether or not Banking and Finance is the right choice. Hell, is a Degree in Banking even a right choice? IF it is, should i change to Banking and Economics?? I'm terribly sorry for being ignorant, but i figured this is the only place i could ask. Thanks.
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noob question here! Curious about Forex career prospects
Not in day trading (though that would be awesome), but in a banking or government setting. I am working toward a major in philosophy and I am enjoying learning about forex economics to the point where I am considering minoring in Econ. Philosophy is at its most basic: a search for and analysis of truth (or whatever you want to apply it to) and it has a lot of free electives. My question(s)... Would a philosophy majoeconomics minor grad be able to find work in Forex in banking or government? Do I need hard banking/stock trading experience, Would my personal Forex trading experience help and how much? What would the career path be ideally, entry level to the top, and what is the top? I checked all the usual career sites but they are pretty light on Forex Trading, compared to say lawyers and doctors. This is a great thread and community thanks in advance for whatever answers I get, even if they are not what I want to hear, bring it on!
My cat manage to closed half of my EURUSD positions
So I am a cat owner and my cat like to sit on my computer when it gets hot. It does not bothering me so much as I find it kind of cute and I always close all my applications. Anyway I left home today for some quick grocery shopping and left my computer on not thinking much of it and latter when returning coming home I found my cat siting on my laptop again. I had thought that I close my mt4 terminal before leaving but when coming home seeing my cat on the laptop I also saw how the terminal window was open which gave me a panic attack. Quickly shushing away the cat I found out that half of my EURUSD positions was basically gone. I have had many dumb and unnecessarily losses in my pathetic forex career but today takes the cake. TLDR The fat cat closed half of my EURUSD positions and I lost some money.
What was that course that you felt it really helped through out your forex career and helped you develop a better understanding of the market and not a course that that basically "obligates" you to approach the market a certain kind of way. Let me hear your opinions! (Sorry in advance if my english is bad, not my main language)
Hi, Im at the stressful point in my life where I have to choose a uni course. I'm learning a lot about FOREX through free information on the internet but I would also like to seek formal education as a backup. Would economics or commerce be a better degree that helps with working with FOREX in the future?
How far in your forex career did you have that huzzah moment? The moment you found a strategy that worked for you and you’re psychology was ready for you to become a profitable trader. I know this just doesn’t happen in a single moment. But what point did you realize that you finally made your way to become a profitable trader?
Deciding if I should pursue a career in forex trading (as a 15 year old)
Hey everyone, I’m a teenager living in the uk and in the past 9 months or so I’ve been trying to decide what I want to do once I leave school. Long story short I have lots of interests but my ultimate goal in life is to travel the world and gain ‘financial freedom’. I know this sounds very typical of a teenager which has been exposed to gurus or whatever but I want some opinions off some professional or experienced traders not these gurus trying to sell me something. I would just like to know if forex trading is a career where you can be very successful and I will start learning as soon as I can, I’ve learnt all the basics but I want to keep learning more about it so I’m ready to trade real money when I’m 18. I really hope I don’t come across as just some idiot who thinks it’s a get rich quick scheme because I certainly know it’s not. I would really appreciate any advice and comments if anyone sees this, Thank you
As a novice trader, I feel overwhelmed at times about how cut throat forex markets can be and the sheer amount of information that I have to juggle in my mind when making decisions. I still have the drive to continue to learn and get better but I just want to ask more experienced traders if they feel rewarded both financially but mainly, emotionally over their forex careers?
Learn to make money trading the news like an institutional trader
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Learn how to predict the GDP results using correlation
Learn how to predict the CPI results, the Durable Goods results
Get a broad understanding of interest rates, inflation and central banks and how they affect the market
Learn how to use the Retail Sales, PPI, PMI and other fundamental announcements to improve your trading
Understand what is sentiment, risk aversion, risk appetite and how these can impact your trading
Learn the five major us Fundamentals
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Be willing to learn fundamental analysis
FOREX TRADING Description *** Join this course and get a chance to win a share of a $2000 in our Demo trading account Competition for students competition check inbox after signing up for info*\* The main reason majority of Forex traders fail is because they do not understand Fundamental Analysis,
To work at a Forex Trading Firm as A Proprietory trader you must master fundamental Analysis
To Work as a Currency Analyst you Must master Fundamental Analysis
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Mastering Fundamental analysis is what will make you a professional trader and if you decide to look for employment as a trader knowledge of fundamental analysis is necessary
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You will learn Fundamental analysis in a simple easy to understand manner (you don’t need a degree in economics)
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Learn how to predict the results for the Nonfarm payrolls announcement
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Take this course if you want to trade Forex for a living
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Asset management is a difficult job. Regardless the asset class the money manager uses, stocks, futures, forex, cryptos. It’s easy to see trading as grabbing your extra cash and investing it on an asset you consider will increase in value soon. Nevertheless, doing that without properly diversifying your funds and having a correct image of what you actually can invest will kill your career, no matter how much you’ve studied. Luckily, technology has advanced to a point where you don’t need to manage your assets all the time. Welcome to the world of automated trading. What Is A Forex Robot? A Forex robot is not an artificial intelligence. A Forex robot is an algorithm that you can set up and program so that it follows the set of instructions you’ve given it, step by step. Forex robots are becoming more and more popular in recent times thanks to the huge influx of new traders that the Forex market is receiving, which makes it more popular and thus a bit harder to predict, given the number of inexperienced people partaking in the industry. How Can It Help With Asset Management? A Forex robot can help you in many ways, some of which are:
Save Money On Asset Managers.
Asset management is a career that many third parties have started, born out of the difficulty of diversifying your portfolio if you don’t know enough about the market. While some services can be very accessible, you’re still spending money on them that you could spend trading, and if that’s not enough, you’re trusting someone else with the success of your career. Using a Forex robot eliminates the need of having someone managing your investments, and you can rest assured that your trades depend only on you.
More Precision and Less Risk.
When you use a Forex robot, you eliminate the passion and emotion factor from trading. It’s common knowledge that anger, fear, and anxiety are the most prevalent reasons why traders take more risk than they should, or take no risks at all, both of which eradicate your chances at a sustainable Forex career. However, making use of a Forex robot or algorithm ensures that the trades you do execute are done with those factors out of the equation, deriving into a more pragmatic approach.
More Free Time and Less Stress.
The ultimate profit about using a Forex robot for managing your assets is time. Since you don’t need to spend time watching every asset and chart or opening and closing your trades, you gain the ability to simply sit back while the trades occur by themselves. What can you do, then? This free time can then be spent studying your assets and other possible options for allocating your profits and generate even more! Doing so will also be much easier thanks to the fact that you don’t have the stress of watching all your pairs to make sure things are going the way you want them to.
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Ive been trading for a year and a half. My strategy is becoming more and more refined. I'm more consistent these days (as long as heavy speculation doesnt fuck things up i.e brexit). My personal account started with few hundred GBP which I've doubled and just withdrawn some profit. If I'm honest my end goal is to be able to live from my profits. I truly have a passion for this game. I've also started managing client money and they're doing well. I don't care about being rich. I want the respect from my family, putting them on and them recognising my skill. Has anyone got knowledge on what it takes to truly make a living from forex trading?
Foreign exchange currency market is a very volatile market. For new or beginner Bitcoin Revolution 2 Review currency traders who have not attended any foreign exchange trainings, fx courses or technical analysis classes before, it is very easy to lose a lot of money trading in the online forex market!There are many forex training courses being conducted, but you have to beware of those courses that only teach some forex strategies, or provide some forex signals or indicators to the students, but do not really equip these beginners with the necessary knowledge of the core fundamentals to forex trading. The situation is worse if the forex strategies are provided by unauthorized forex brokers. A good forex course should cover the following:A scientifically proven and tested forex trading strategy. These fx strategies should have more than 60% to 70% winning chances in all the different market conditions. Also, these trading methods should have been back tested for a long period of time, with at least 5-10 years of scientific testing. Not many self-taught currency traders can afford to test their foreign exchange strategies with this approach due to the lack of facilities, expertise and resources. An effective money or risk management system. Warren Buffet's number 1 rule on investment is "Do not lose your money!" It is very important to preserve your capital. A good forex strategy consists of good money management. Do not risk more than 5% of your capital on any one trade. If a forex trader has a forex strategy with 60-70% chances of winning out of 100 trades in the online currency market, the fx trader will win more and lose less if the same amount of money is traded all the time.Developing the right trading mindset. For adults, it is very difficult to learn through memorizing strategies, because adults learn by participation. In a good forex course, it would help to develop the right trader's mindset by having plenty of activities during the training course to reinforce the principles of trading. Do not use the slow track method to learn although it is cheap, like listening to CDs, reading books or participating in foreign exchange forums. It could cost you an arm and a leg, if you try to trade and learn through trial and error. The fast track to success is to learn from a successful currency trader who has the passion to help beginner forex traders to trade for living and never work again.Get a good forex training course for a beginner forex trader. Register for free Forex Course in Malaysia worth USD48, and discover the power of forex.For the small investor there is only one way to trade Forex. Learn this simple trading method that works every time.My assumption for the purposes of this writing is that you the reader have at least a general knowledge of Forex and a bit of Forex trading experience. Also you know that Forex is the largest market on the planet, and although one can quickly make a ton of cash; one can also lose everything in less than a flash. https://healthreviewfactory.com/bitcoin-revolution-2-review/
Hey Daytrading, I'm a 19 year old uni student, currently studying quite a bit of mathematics and weirdly enough majoring in Physiology, and was introduced to trading at 15, I used to "trade" with my dad back then, however he was trading with a market maker at the time and he copped a net $30000 loss. I have had a successful history paper trading since , and 3 months ago decided to tackle trading with real money, and have more than tripled my accounts earnings. I have also attached proof of my first and final trade, and a brief account summary. So about 8 months ago, I posted a question on this subreddit, asking whether "scalping indices was as easy as it seems?", at the time I was trading on a $50,000 demo account and was making consistent profits of at least 10% on the days I would trade, however I was quite skeptical of the large returns, and questioned this rapid success on this subreddit. Regardless, after this prolonged period of demo trading, I had saved up $5000 to open up a trading account (with an ECN/STP broker btw), to test the waters trading real money, and to see if I could replicate this success in a real trading account. I did. On the first day, I made $900, with no losing positions, this initial success got to my head and I entered a few losing trades the following days of that week, however in the end resulted positive. Long story short in the span of 3 months my $5000 account grew to now almost $27000 (also notable, I did deposit an extra $4000 at one point to maintain a decent margin level after a big losing trade), and more than 80% of the positions i have opened have been in the green, with consistent profits weekly. As indicated by my post 8 months ago, I mainly scalp index CFD's, however trading with real money, I have found myself keeping positions a bit longer than what a scalper would. I have stayed away from Forex, and have attempted to trade Amazon and Tesla. I'm probably going to continue trading and hopefully continue my account growth. I am planning to day trade with a 30k account and withdrawing profits weekly. I am 19 and a career trading is looking more like an option for me. I'm really trying to get a job or internship at a trading firm, because I believe that would be an invaluable experience, and could possibly kickstart a career for me in trading. Anyways, I hope i didn't come off as arrogant or boastful, I just wanted to share my personal experience trading. TL;DR: Started with a $5000 trading account, which I grew to $26000 in 3 months, by mainly day trading index CFD's and a little bit of stock CFD's. Attached proof. https://preview.redd.it/6tss47h77ql51.jpg?width=828&format=pjpg&auto=webp&s=8b159f9997cfb806942a6e3bdc7b076209fa183f https://preview.redd.it/jny8byga8ql51.png?width=828&format=png&auto=webp&s=b4b1c51a598d472e2ea76f7077ba89c53e3f947a EDIT: I haven’t been trading stocks guys, i thought i made it clear that my my main strategy was scalping indices, my post 8 months ago on this subreddit was literally asking why i found “scalping indices so easy”, so the argument that I’ve just gotten lucky these past 3 months is redundant, 8 months ago the market was completely different to what it is now, regardless I havent even been trading stocks (less than 5% of my profits are from stocks) Also, yeh i dont use stop losses, come at me 🤣
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My Most Profitable Trade of My Forex Career - YouTube
So, here’s one of the questions I’ve received… “Do you have any advice for new traders who want to pursue a trading career?” I get it. You might not want to ... EP 089: From ramen noodles to a lucrative career trading Forex markets w/ Blake Morrow Blake Morrow (otherwise known as @PipCzar on Twitter) started out as a... What is your favorite part about the job? [i.e. about trading and analyzing markets]. What is your least favorite? Vince Stanzione, veteran trader and invest... In this video Jay Wayne is quitting his job at officemax to trade full time ..... Check out the discord for all entries. 🔥 Active Discord Server, Join The Hunt: discord.gg/sFSgpYK - 👉Updates, Setups, and Laughs: https://twitter.com/lucidfx...