What is Two Blokes Trading? Two Blokes Trading is a fun and informative podcast and website for new and experienced home financial traders. It follows us, Tom and Owen, as we learn to trade profitably and consistently. We interview leading traders and trading industry insiders every week on the Podcast to give our listeners the best chance of becoming profitable traders.
I’ve just started forex. I love it. But I’m losing all my money. What do I do?
Okay so I always wanted to trade as I’m obsessed with everything economics. Weird considering I didn’t even take it at university (that’s a story for another day) After years of wanting to trade, I finally tick all the boxes; over 18, money to invest. (I’m 20M btw) Okay so start with £250, playing about with it. Putting in all the techniques I’ve learnt over the years but never used besides a demo account. And it’s going amazing. In one day I’ve got £750. This is great. It’s good because it wasn’t an accident, I actually know what I’m doing over all the years of demo trading. But then I hit a wall. I got exited and done one stupid trade and lost every penny of that in the space of hours. My confidence is absolutely shattered and I’m scared to take any risk whatsoever. I invest another 250 and my confidence is completely fucked. I lost it in the blink of an eye. Finally I put another 250. I’m telling my self that if I lose this, I’m done with this as it’s clearly not for me. So far I’m a £140 and I’m sitting still. I don’t know what to do. I was doing so well and so motivated but all of that has gone into the trash. My confidence is at an all time low. I can’t afford to keep throwing cash either. I’m a scalper as swing trades don’t sit well with me. UPDATE :: okay so I tried to do the whole “no trade for two weeks” but I just couldn’t. I put down another £1500 in my account and told myself that this is the final one. I lost that in about 1 day. I’ve now put another 2000 and lost more then half of that already. Idk what to do
Unathi Kwaza: Watching @Checkpoint_eNCA episode on Forex Fraud. South Africans are too gullible man. I don't feel sorry for any of those losing money. People don't want to work, they want free money. Tsek
What type of commodities do you guys trade? Do you focus on Forex with algo trading, Options?
So like the title suggest I was wondering what types of trades or trading do you focus on? I am super into options but want to get into algo trading to become a better technical trader. If you focus on forex what platforms do you use to trade on. I know with TD ameritrade I think the report they have is 30-40% of traders who trade forex lose money and TD leverages against you? Any help would be awesome!!! Edit: You guys are amazing honestly! Thank you so much for the help you've guys (and gals) given me a lot to think about!
Many forex traders find it hard to succeed in the market. As a result of this, they end up losing money. In this post, we will tell you how to not lose money in forex trade. We have come up with 4 simple and effective tips to safeguard the money you invest. Read the complete blog to explore these tips and ensure that you never lose your money. When it comes to not losing money in the foreign exchange market, allow Tradesto to safeguard you. https://preview.redd.it/vsm7cgv6n7551.jpg?width=500&format=pjpg&auto=webp&s=777343e3148f5207d0bee72e89113dc71a5a60e1 1. Understand Forex Market When you enter forex trading, your goal should be to understand how the foreign exchange market works and not how to beat it. Forex traders with the mindset of beating the market barely succeed. So, the best tip will be to understand the market very well. 2. Learn to Manage Risk in Forex It is often observed that some forex traders are exceptionally great at trading but lack risk management skills. Challenges in the foreign exchange market can come up uninformed. It is important for you to learn the risks and know how to protect your capital by managing these risks. 3. Never Make Forex Trading Decisions in Haste Hasty decisions in the forex industry will lead you nowhere. Wise forex traders always spend considerable time in deciding when and how they should trade. This is the most important tip you need to follow too. 4. Rely on Forex Broker for Fund Safety In the forex industry, if you are on your own, then the security of funds is something that you will lack. The ideal thing to do would be to search for a forex trade broker who offers the security of funds. That way, your money will stay safe. How Tradesto Can Save You from Losing Money in Forex? Celebrated among the top-ranking forex brokers, Tradesto offers fund security to its customers. Along with the security of funds, as per the Tradesto review, this platform provides more benefits too. Open a live account today and tell us about your experience in Tradesto review.
What broker besides IB allows you to convert currency via Forex and instantly avoiding losing money on conversion?
IB has this great feature where you can convert your accounts currency via forex, if you have GBP and USD accounts and want to day trade on multiple markets same day. Also it is instant as you pretty much use forex to fill your order. As an example broker like Saxo, it charges you 1% every time you try to convert internally to different currency and it may take up to 1 day, aka not instantly. Is there any other broker like IB for uk investors?
Being Too Smart – the foremost successful traders i do know are highschool graduates. They keep it simple and don‘t look beyond the obvious; their results are excellent. Mr pips master Not Trading Around News Time – Most of the large moves occur around news time. the quantity is high and therefore the moves are real; there’s no better time to trade fundamentally or technically than when news is released; this is often when the important money adjusts their positions and as a result the costs changes reflect serious currency flow (compared to quiet times when Bank traders rule the market with their customer order flow. Emotional Trading – once you don‘t pre-plan you‘re trades essentially it‘s an idea and not an idea; thoughts are emotions and a really poor basis for doing trades. Do people generally say intelligent things once they are upset and emotional; I don‘t think so. excessive amount of Detail – If your trading quite 2 indicators then you would like to wash house. Having many indicators stifles trading and finds reasons to not trade. A setup and a trigger is all you would like . Quality Trading Time – I suggest 3 hours each day of quality, focused trading time; that‘s about all of your brain allows. When your trading being 100% focused; half way is bullshit‘ it doesn‘t work. Don‘t even think that point spent ahead of the pc watching the rates has any correlation to profitability; it doesn‘t. Spend less time but when your trading be 100% focused on trading.
What Percentage of Forex Traders Lose and Make Money (The 96% Myth Busted)Find out what are your chances to make money with forex and stock trading and which is the “riskiest” and which is the “safest” broker out there. For the first time in the history of trading, you get to know the real statistics of how many investors actually make money by trading CFD’s like forex, stocks etc. One of the most popular questions bothering new forex traders has been “What percentage of forex traders make money?”, “How risky is forex trading?”. There was some speculation, but nobody had significant hard facts. Until now… Most traders have heard the popular estimate that 96% to 99% of traders lose money. This figure has been circling around for many years, but it was more like a folk legend than a hard fact. There was some data from a couple of brokers, but it was not possible to get the results from all the market participants. But now the secret can be revealed thanks to the new regulations. ..... Continue reading at: http://forexillustrated.com/96-of-forex-traders-lose-money-the-myth-has-been-busted/
Apparently unregulated forex brokers like Hugosway and JafX can create artificial spikes to hit your SL and make you lose money. As a result, they profit.
JafX for example had created a huge monster candle, which was deleted moments after. And this was from two videos I saw. I’d like to post the video for anyone who’s interested but I need a platform to post on so I can send the link.
Kuvera Global is a pyramid scheme (scam)! 99% of distributors lose money. FOREX is high risk and not for casually putting in your University loan money
EDIT: Kuvera Global is not to be confused with Kuvera, the Indian mutual fund investing company I can’t believe ppl are buying into this scam. It sickens me that university ppl who know nothing about trading and managing money are targeting innocent students (probably mainly international and first year students). They claim to be experts after 6months, but just sound like sales people roping you into another pyramid scheme. I asked one of their head persons a basic question regarding the impact of the Forex market on Trump’s tariffs which was big news, and they fumbled and couldn’t give me an answer. When I told them this sounds like a pyramid, they proceeded to tell me that I’m uneducated and I will be another loser working a 9-5 job. They even started making personal jabs at me. To speak on Kuvera, it has a complex compensation plan that results in money going back to the mentors. Their product is extremely overpriced at $220/month. You can use Intuit Turbo Tax for like $20 a year and find better videos on how to trade on YouTube. This just incentivizes people to recruit and make money off of signing people up bc that is the only way to make money (Pyramid scheme). Also the distributors on Instagram are posting these results of them making $100+ overnight or while they’re watching the basketball game. They are promoting this lifestyle of flashy cars, fancy hotels, money and 6 figure salaries at age 20 is everything and telling everyone else not in the program they are a chump working 9-5 and missing out. They don’t promote how risky FOREX, cryptocurrency and buying equities can be. You can end up at square one and lose tons of cash overnight as well. Stop losses only protect you for one trade, but once you keep putting money in and trying to win, you will end up losing eventually and you may not have enough cash to get back in the game. On top of that you are paying this $220 fee. So you are already starting at a loss. FOREX is no joke. Hedge funds and other investment banks filed for bankruptcy when the Swiss Franc took away it’s cap limit over the Euro in 2015. Foreign exchange trading results in major risks such as counterparty risk, market liquidity risk, leverage risks, etc. Kuvera telling us that you can make money through your phone with little risks and by working a few hours a week whenever you feel like it when Wall Street bankers are working 60-80 hours per week? That seems fishy. Also, what baffles me is this giant disclaimer they use. They say that they are not registered financial advisors, but they are teaching us how where to put our hard earned money? Seems contradictory to me. Furthermore, you have to report all your gains/losses when you file your taxes, otherwise you are committing a federal crime. I hope they are issuing T5s and teaching their followers how they can file this on their tax return. Speaking of taxes, they also mentioned that you will save more in taxes by becoming self-employed so you can have more deductions. WOW. They are legit scamming you to sign up, become a self-employed Kuvera distributor and you will save money on taxes. However, this just means Kuvera does not have to pay CPP, EI, withholding taxes, and can avoid any other liabilities of hiring employees (wrongful dismissal, severance, you name it). This is a classic pyramid scheme resulting in earlier backers making tons of money off of suckers, and using tactics to make it appear legit. Oh and the whole Kuvera being traded publicly and that means it’s legit thing, that does not mean they are legit! They were formerly called WealthGenerators which, if you check on Google, was a major scam selling stocks illegally. They just changed their name to Kuvera. Investview purchased them and the annual audits (required by the SEC) just determine whether the financials are presented fairly, not whether they are coming from a legitimate source. I think it’s the FDC that determines a legitimate company. They will come crashing down soon and if not, well, 99% of people who join MLMs (fancy name for pyramid schemes) lose money. This is a legit joke and I can’t believe this is going on at YorkU. General rules: when you see:
People promoting The Movement
21 year olds (who look immature and still act like they’re in high school) saying they make over $100k and have a new fancy car
A compensation plan where you can recruit to make money (or save on the obscene fees)
People within the company assuring you this is not a pyramid scheme
Acquaintances you hardly know messaging you on FB or Instagram about an opportunity
Unusally large fees to join in (whether it is a sign up fee or masked as a service), and finally
It sounds too good to be true, then
IT IS MOST LIKELY A PYRAMID SCHEME. Yes, most MLMs are disguised as pyramid schemes as it is insanely easy to appear like you are a legitimate company. Don’t join these schemes. Please pass this on to 3 more people and encouraging them to do the same.
This article looks at the most common reasons why professional and new forex traders lose money on the forex market. Instead of learning from failure, learn how to avoid it to avoid losing money. Knowledge Deficiency – Most new forex traders do not take the time to learn what drives currency rates (primarily fundamentals). The forex website DailyFX found that many forex traders do better than that, but new traders still have a tough timing gaining ground in this market. Reviewing the following list will show you some of the most common reasons why forex traders lose money and help you make it into that elusive percent of winning traders. So to stop losing money in forex trading, you need to learn how to monitor your emotions by getting a comprehensive forex risk management plan which also includes information on how to avoid overtrading. The only way to prevent overtrading is to know exactly what you’re looking for in the market, and just take a little time off the markets Forex money management conclusion. Money Management is one of the most important and wide topics when it comes to successful forex trading. A famous quote says “a bad trader will lose money with a perfect strategy, and a good trader will make money with a bad strategy”. This stands true because of the right implementation of money management. Here are 10 tips to help aspiring traders avoid losing money and stay in the game in the competitive world of forex trading. Do Your Homework Just because forex is easy to get into doesn’t mean
Forex News: 15/07/2020 - Euro surges, stocks bounce back amid fresh vaccine hopes
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