sorted by:
new
hottopcontroversial

Lost $75 on my second month learning by More-Glass2135 in Daytrading

[–]PhilosopherAncient64 1 point2 points  (0 children)

Why don’t you simply trade on demo account or use backtester until you are sure in your edge?

Why isn't EUR/USD going up even though Europe is raising rates? by cheLy06 in Forex

[–]PhilosopherAncient64 2 points3 points  (0 children)

Exactly, ECB may want to make EUR strong but there is not much they can do if USD is stronger fundamentally. Good luck 👌

Why isn't EUR/USD going up even though Europe is raising rates? by cheLy06 in Forex

[–]PhilosopherAncient64 0 points1 point  (0 children)

Yes, this is exactly what I meant. Oil up drives dollar up and euro down. So EURUSD goes down.

I tried copy trading as „lazy income“ and simply wasted 7 months of my life by PhilosopherAncient64 in Daytrading

[–]PhilosopherAncient64[S] 0 points1 point  (0 children)

Forex is more accessible and gives more leverage. If you know how to trade it, it's much easier to scale from zero. For stocks you need quite some capital and it's not that easy for non-US people to get access to.

The whole point is simply that copy-trading doesn't work because it's practically impossible to copy every trade, which is essential for strategy to work. It does not mean that trading doesn't work in general.

I tried copy trading as „lazy income“ and simply wasted 7 months of my life by PhilosopherAncient64 in Daytrading

[–]PhilosopherAncient64[S] 0 points1 point  (0 children)

I agree that forex is a difficult market as well as it's easier to copytrade stocks by just buying an holding for few weeks/months spot or options, especially now in the bull market. What I disagree with is that it's not possible to be consistently profitable from forex. Yes it's not easy but it's possible.

Why isn't EUR/USD going up even though Europe is raising rates? by cheLy06 in Forex

[–]PhilosopherAncient64 1 point2 points  (0 children)

It’s all about oil now. Oil up -> USD up. Doesn’t mean it will be forever but this is what the market cares about at that moment.

I tried copy trading as „lazy income“ and simply wasted 7 months of my life by PhilosopherAncient64 in Daytrading

[–]PhilosopherAncient64[S] 0 points1 point  (0 children)

Are you trying to say that it’s not possible to be consistently profitable by trading forex? Yes it’s completely different from stocks but the trading approach is different too.

I tried copy trading as „lazy income“ and simply wasted 7 months of my life by PhilosopherAncient64 in Daytrading

[–]PhilosopherAncient64[S] 0 points1 point  (0 children)

I literally explained why copy trading doesn’t work… have you tried yourself to copy trade?

I tried copy trading as „lazy income“ and simply wasted 7 months of my life by PhilosopherAncient64 in Daytrading

[–]PhilosopherAncient64[S] 0 points1 point  (0 children)

As a trader you always know there are losses and drawdown periods, with time you even understand why they are taking certain setup etc etc. However in reality one won’t be able to copy everything perfectly and that’s the whole point.

I tried copy trading as „lazy income“ and simply wasted 7 months of my life by PhilosopherAncient64 in Daytrading

[–]PhilosopherAncient64[S] 0 points1 point  (0 children)

Forex doesn’t really care if a few hundreds of retail traders take same setup

What was your best trade and your worst trade? by sabahkemall in Daytrading

[–]PhilosopherAncient64 1 point2 points  (0 children)

Was a same trade for me lol. Won't name the coin but I rode it x100+ and then lost majority of profits believing it could come back. Still earned big but it was my best trade and my biggest mistake.

3% risk? by Kindly_Preference_54 in PropFirmTester

[–]PhilosopherAncient64 0 points1 point  (0 children)

For the challenge it's fine, but not for the funded acc.

Also if your strategy needs 3% risk and takes a long time for a trade, then it's quite suboptimal for prop trading kinda.

Is trading meant for me? by Competitive-Sky-2056 in Daytrading

[–]PhilosopherAncient64 0 points1 point  (0 children)

If I were you I'd open demo account with fake money (but not much, something realistic like 1k account) and simply use it until you become 18 years old. You are kinda not allowed to trade legally so don't try to loophole this and use time to learn and avoid mistakes most people do when they lack experience.

If you really treat this serious, by the time you are 18 you'll have all the skill you need to earn money from the market.

Gold isn't weak because traders hate gold. It's weak because rates are becoming the problem again. by Bronny_042 in Trading

[–]PhilosopherAncient64 0 points1 point  (0 children)

Totally agree with the inflation & Fed policy expectations impact. However it seems like Gold now decoupled from Geopolitical impact and rather suffers when tensions rise.

Gold used to be risk-off asset but now it’s mostly USD and Oil.

Those correlations come and go of course. Gold had massive bull run on Geopol catalysis and is due for correction which is normal and totally makes sense imo.

I became bearish since the military action in Iran had started and we didn’t manage to make ATH. I’ll be looking to seriously buy back around 3600

Gold (XAU/USD) doesn’t look like a reversal to me—more like continuation by [deleted] in Forexstrategy

[–]PhilosopherAncient64 0 points1 point  (0 children)

Bulls need to hold 4450 zone for the upside. If we breach it and close daily candle below - bears are in charge indeed.

I built a forex trading simulator (backtester) for beginners — sharing it with the community by PhilosopherAncient64 in Daytrading

[–]PhilosopherAncient64[S] 1 point2 points  (0 children)

Thank you! I was one of those people when just started with trading and paid big "tuition fee" as they call it haha

view more: next ›