Welcome FXGears' Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. FXGears.com hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat.
A place for redditors to discuss quantitative trading, statistical methods, econometrics, programming, implementation, automated strategies, and bounce ideas off each other for constructive criticism. Feel free to submit papers/links of things you find interesting.
Law of Forex - What "Law" do you believe in the Forex Market?
The "law" i mean here is a pattern, phenomenon or a rules that the Forex Market / or a certain currency pair always obey , or something that always happen. Some silly example like "EURUSD will never be lower than xx value" , or "A certain economic news with positive result will guarantee a certain currency to go bull" , or "a certain pattern followed by a certain pattern, then this will happen" , a certain time/day of the week has the most volume , "RSI always works when pair with another indicator" , "MACD doesn't work unless xxx" ,"a mixture of indicators plus another price action is a sign of something happen" etc.. Tell us what do you believe and and your opinion on it, let us know!
It isn't easy to win in the forex market. But if you follow these simple tips, you have a chance in the market. #forexmarket #FXtradingadvices #Emotion #ForexTradingtips #Mistakes #Strategies #traderpulse
I have just started learning about trading in forex market and it would be great if someone with experience could help me to come up with a trading plan
I just finished reading Currency Trading for Dummies and I now have some very basic idea of trading however I understand that I’m only starting and I’m going to stick with demo account for now. Now I want to start working on my trading plan and as I have learned there is no easy formula to make a trading plan however I think someone with experience could explain to me some flaws of my trading plan if there are any. For now I only have a very basic trading plan. I have decided to trade in 1h and 4h charts. First, I will look at a general trend because as I learned in the book it is better to not trade against trend and then look at resistance and support in daily charts. Then I will look at where prices are likely to break resistance or support and there I am going to enter the market. I plan to close my positions at some key resistance or support levels or when I learn how to use it maybe I will also use Fibonacci retracement. Hoping to hear andvice from someone who is familiar with such type of trading Thanks!
Are you a newbie? Want to know what are your choices in the Forex market? Then here is it. #daytradingmethods #forexmarket #investment #momentumtrading #trend #scalping #reversetrading #pricemoves #traderpulse
The Forex market is tied in with exchanging between nations, the monetary forms of those nations, and the planning of putting resources into specific monetary standards. The Fx advertise is exchanging between provinces, typically finished with a representative or a money related organization. Numerous individuals are engaged with Forex exchanging, which is like financial exchange exchanging, yet FX exchanging is finished on a lot bigger generally scale. A great part of the exchanging happens between banks, governments, agents, and a modest quantity of exchanges that will occur in retail settings where the normal individual engaged with exchanging is known as an observer. Monetary market and money related conditions are making the Forex market exchanging go here and there day by day. Millions are exchanged every day between a considerable lot of the biggest nations and this will remember some measure of exchanging for littler nations also. From the investigations throughout the years, most exchanges the forex market are done among banks and this is called interbank. Banks make up around 50 percent of the exchanging the forex advertise. Along these lines, if banks are generally utilizing this strategy to bring in cash for investors and for their own bettering of business, you realize the cash must be there for the littler speculator, the reserve troughs to use to build the measure of premium paid to accounts. Banks exchange cash every day to expand the measure of cash they hold. Overnight a bank will put millions in forex markets, and afterward, the following day brings in that cash accessible to people in general in their reserve funds, financial records, and so on. Business organizations are additionally exchanging all the more regularly in the Forex markets. The business organizations, for example, Deutsche Bank, UBS, Citigroup, and others, for example, HSBC, Barclays, Merrill Lynch, JP Morgan Chase, and still others, for example, Goldman Sachs, ABN Amro, Morgan Stanley, etc are effectively exchanging the Forex markets to build an abundance of investors. Numerous littler organizations may not be associated with the Forex advertises as widely as some enormous organizations are nevertheless the alternatives are still there. National banks are the banks that hold universal jobs in remote markets. The flexibility of cash, the accessibility of cash, and the loan costs are constrained by national banks. National banks assume a huge job in the Forex exchanging and are situated in Tokyo, New York, and in London. These are by all accounts not the only focal areas for Forex Trading yet these are among the biggest engaged with this market technique. At times banks, business financial specialists, and the national banks will have enormous misfortunes, and this thusly is given to speculators. On different occasions, financial specialists and banks will have tremendous additions. #future academy
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