Forex Trading for Beginners (A Step-by-Step Guide)
/r/Forex Trading Community
Welcome to FXGears.com's Reddit 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.
I am new here. and also still new in trading.. well to say how far I have gone I have lost USD1200 so far from trading. i'm in my late 20s and getting bothered about having a consistent income/cashflow. My question is whether it is possible to earn a living only from trading ? for a very long time I stopped the regular job. nearly 6 years, been hustling since I was 15+ on monthly wages, been able to save up a decent amount of money with properties here and there. Yup have some money stashed up in the bank, and getting less than 1% yearly while spending more than I'm getting now. I do not' see myself going back to 6-5 jobs ever again. At this point of my life I want a cash flow. There are 131k traders here. I believe there are more than a handful of you who can give me a good answer and a sound advise/ or guidance on how to go about it. thanks
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Hey guys, 18 year old here trying to get into investments. Im just curious, about which type of investing should I get into. I currently have a TFSA account that im using to trade for the long term, but im wanting to get into trading more on the daily level. I don't have much capital but I was curious for an 18 year old to learn and get some experience and possibly make some money, which type of investing would be the best? Thanks!
Hey everyone! First let me give you some background. I live in Mexico, I'm a scientist (Biotech), but science is the least priority in Mexico, never the less I'm one of the lucky ones in Mexico, because only 10% of the population in Mexico makes more than $440 usd a month ($10,000 pesos), and I'm currently making around $500 usd a month. You might think, $500 a month and you are part of the top 10%?, yup, that's life in Mexico. I already spent 6 years in college, I'm totally willing to spend another 10 years learning a new skill if that means at least making more that $500 usd a month. I've been studying technical analysis for the past year, and I've been trading on a paper account for at least 6 months, but I'm nowhere near profitable. Yes, I'm setting a stop loss, yes I'm only taking at least 1:3 risk reward trades, yes I'm only risking 2% per trade, but I'm still loosing money. Is it possible to make a decent living trading Forex? I know one year of experience is nothing, I didn't learn to play the guitar in a single year, but I wonder if I'm better spending my next 10 years in another skill like marketing, or something else.
Hi there, I could really use some help here. I day trade using IC Markets (I believe they are Australian), Raw Spread account. I withdraw money from IC Markets every other week, maybe GBP 1,000.00 (now I am getting the hand of it), however, overall, I am still very much down.
Do HRMC see this going into my bank account, do they then, see the total loss I have with my deposits to IC Markets and my withdrawals or only look at the withdrawals I am doing?
The big question, is this taxable, is day trading taxable in the UK, I know there are three areas you can fall into, however, how do I know what area I fall into. Additionally, when does it get to the point I need to file a tax report (if I do?).
Is there a broker out there I should be using that means I do not have to pay tax, everyone mentions spread betting, but I just contacted IC Markets and they do not do spread betting. Can you please let me know all the information and your thoughts as I beyond confused on all of this and really could do with some advice.
I have done so much research on the topic and do not have an answer yet.
The forex market is unique due to the sheer number and variety of traders who are active in the space. Unlike stock exchanges, forex markets are open twenty-four hours a day and span the entire globe. Forex trading is unlike any other market-based activity. With over $6.6 trillion moving through foreign exchanges daily and a tiered-market system, traders can make or lose a small fortune in a very short period of time. Making a living at it requires patience, discipline, and dedication. Here we discuss if it possible for an individual trader to make good money for living trading Forex: https://tickeron.com/blogs/can-i-make-a-living-trading-forex-7230
Are you a newbie looking to take a shot at the market? Here are the two kinds of approaches to get returns from the market. Know what you can do and then choose accordingly. #initialcapital #investing #risk #buyholdstrategy #trading #forex #FXmarket #newbie #traderpulse
I was like many of you. Searching stocks premarket ... Trying to find the one that would explode. Only once have I been lucky in 5 months. I got into forex. Now I'm setting daily targets of 50 on Monday and up by 10 per day every day I can hit target. If I can't hit target i lower it by $10 the next day. In 3 wks I've been able to grow my account by over $200 so far. And that's only on a $1k account. I'm now moving more capital over to forex.com from E-Trade. . Anyone else on similar findings ?
FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Forex is an abbreviation for the foreign exchange market. In the financial world, Forex trading is also known as FX trading, currency trading, or foreign exchange trading which can be used interchangeably. Forex trading is a huge market that started in the 1970s. Trillions are traded in foreign exchange on a daily basis. Whether you are an experienced trader or an absolute beginner to online forex trading, finding the best forex broker and a profitable forex day trading strategy or system is complex. So learn the fundamentals before choosing the best path for you. Forex trading has a steep learning curve. Read to learn the basics of currency pairs, how the forex market operates, and details on market pricing. The main reason why more and more traders flock to the Forex markets is that the barriers to entry to trading currencies are so low. All you need to start trading is a computer, a small amount of capital, an Internet connection to access your online trading platforms, and (most importantly) trading knowledge.. Even though it’s pretty easy to start trading with an online Forex trading account ...
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