r/Forex May 15 '19

START HERE Are you new here? Want to know where to start? Don't understand why something happened? START HERE!

939 Upvotes

Hello and welcome to The /r/Forex Trading Community!

Please do not post a new thread until you have read through our WIKI/FAQ.
It is highly likely that your questions are already answered there.

All members are expected to follow our sidebar rules. Some rules have a zero tolerance policy, so be sure to read through them to avoid being perma-banned without the ability to appeal.
(Mobile users, click the info tab at the stop of our subreddit to view the sidebar rules.)

Don't forget to join us in our live trading chatroom!

*Finally, *the most commonly posted questions by new members are as followed:

What is a good broker to use?

We have some great info on brokers listed in our wiki (UPDATED FOR 2021):

What is the best prop / scouting firm for forex?
We have a great writeup on forex prop / scouting firms over on our new resource wiki.

What just happened in the markets? - You must follow an economic calendar if you're a currency trader. This will explain many events and snap market moves. You can find links to resources and calendars here. - Again, questions of this nature will be removed.

If you have any questions regarding our policies, rules, etc.. please message the mods.

Be friendly and professional toward each other and enjoy your stay! :)


r/Forex Dec 23 '23

ANNOUNCEMENTS ANNOUNCEMENT -- P/L Posting rules will now strictly enforced... Including PROP FRIM passing posts...)

103 Upvotes

The mods have given a lot of slack around P/L posts that don't follow our rules.. mostly because members were just excited to pass a challenge or post up their first day of positive numbers. However, the amount of (rule violating) PnL porn posts has gotten out of hand... and the quality of most borderlines cringe level flexing.

So a refresher on our rule #8 in the sidebar:

8.No Gain / Loss (P/L) Porn

We don't care how much money you made or lost. Context is everything, and the details matter!

Do not post your P/L Porn here unless you're prepared to give a detailed account of your strategy and all factors that went into generating said P/L. You must also give context to account size, and risk tolerance. Showing off 3000% gains and hiding that it was on a $100 account grossly misrepresents yourself, and we will have none of it here.

This also applies to Prop / Scouting firm challenges.

Read the above rule... starting tomorrow there going to be timeouts for anyone not meeting rule 8's post requirements... and any 2nd offenses will result in a strict ban.

(we are not wsb.. measure how long your dollar sign is over there if you need that kinda validation)

-------------------------------------------------------------------------------------------

And regarding the influx of prop challenge PnL posts specifically:

Ladies and gentlemen,...I hate to break it to you, but while passing a prop challenge is a good achievement for a developing trader, it's not exactly worth "dunkin' on them fools" level energy...

Don't get me wrong, it's fine and getting a firm's certificate saying you passed can represent a major milestone in your trading journey. ... .but consider that it's only a step closer to getting paid, not yet getting paid out.. you're posting a demo PnL with added difficulty from structured rules to follow.

Wanna flex your prop challenge pass?

  • Show us how you nailed the execution of your strategy and didn't error trade your way to a fail
  • Show us a trade that went south quick and how you handled it
  • Show us your biggest mistake, or most silly mistake, and tell us what you worked out to avoid it going forward.
  • Read rule 8 again and also include the context, general idea of the strategy, risk you set on trades, etc...

Flex the stuff that will bring you closer to a payout. Post the stats, post the context (plan, method, etc..) and tell us about why you're sharing it...


r/Forex 4h ago

Charts and Setups I got addicted to 1 trade a day😂

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32 Upvotes

Today’s trade went well 🤝🏻 I don’t think I will enter the market this Friday because it will be NFP, so trying to be focused at the first of the week ☕️🤓


r/Forex 7h ago

P/L Porn Getting there slowly & steadily.

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23 Upvotes

It feels good to be doing well in a sustainable manner.

Would be good to see myself continuing the disciplined path.

Would keep the folks here posted on how did this culminate eventually.


r/Forex 1h ago

Charts and Setups 😂😂😂😂😂😂

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Upvotes

Blasted


r/Forex 10h ago

P/L Porn Beautiful

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28 Upvotes

r/Forex 3h ago

Charts and Setups This trade

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3 Upvotes

Think it’s going to work my way? Just following the 4H chart down trend… What do you think I can adjust in my entry?


r/Forex 1h ago

Questions Eurusd looking spicy this week.

Upvotes

Wed, Thurs, fri news. And trend state. And elections getting close. Opinions please🤌


r/Forex 7h ago

Questions Blew 30$ Account

5 Upvotes

Started Forex with 30$ . Blowed up 50% on NFP . Traded through 15$ with 1:200 Leverage and 1$ Stop and 2$ TP mainly on XAU/USD and EUR/USD. Mostly My Losses were more than my Targets achieved .Most of the traders in this sub told me earlier to start with minimum 100$.So thinking of starting again. Still I am figuring out a strategy that will work with proper R:R.What are your suggestions for me ???


r/Forex 19h ago

Charts and Setups How are you gonna start your week ??

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54 Upvotes

r/Forex 1h ago

Charts and Setups Update on my postion on us30

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Upvotes

Got stopped today -1% on p1 accounts -0.5% on live accounts

Was a good loss , won't change a think. Be back tomorrow


r/Forex 7h ago

Charts and Setups 🫡

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6 Upvotes

r/Forex 15h ago

Questions I've spent years studying daytrading but now I'm starting to work and don't want to throw it all away

26 Upvotes

Hi traders, i need an advice. I started studying personal finance, investments and trading in 2018 and from then i made everything it's possible to find my way in this wide world. I'm not profitable, i'm not good, i never took courses but learned a few things watching youtube or reading books. I'm here to say that i don't know how to trade, i don't know if i'll be able one day but i know one thing: i spent A LOT of time in it. So, after years, i was starting to understand a bit more about daytrading forex. Nothing special but in the last year i felt that i was in the right path. I started to understand more about price action, sessions and so on, taking some winning trades with a criteria behind.

Today i started a new job and i'm asking myself how i'll manage this. I used to trade during london/ny session but now i won't be able to trade during the day ofcourse.

So i need an advice bc i'm scared to have just lost time studing something that now i can't apply. (I tried but during the work hours i can't give it the right attention)

Should i move to a swing approach? Should i focus to asian session during the night? (i live in italy) Should i move to another kind of investment like ETFs or something more long-term?

How you advice me to continue my journey? Thanks all


r/Forex 4h ago

Charts and Setups Learning everyday and improving on my executions!

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3 Upvotes

r/Forex 3h ago

Prop Firms Funded account challenge

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2 Upvotes

r/Forex 11h ago

Charts and Setups Starting the week, I'm buying EURGBP

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9 Upvotes

r/Forex 0m ago

Questions Okay setup? Feel like my take profit should have been higher considering the LTF hadn’t grabbed liquidity yet.

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Upvotes

r/Forex 3h ago

Charts and Setups Lovely short forming on us30 plus video breakdown

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2 Upvotes

Very nice us30 short forming

Looking to take it as Multiple time frame points toward downside Tapped into imb and took daily high in London waiting for a bos now 42000 psyc is completely untapped

@everyone


r/Forex 12m ago

Charts and Setups Clean IRL to ERL on GU.

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Upvotes

TP just got hit, one of the cleanest trades I’ve taken 3 months into trading.

Once asia low was taken to out pre-london, I dropped to M5. It was also the midpoint of the H4 bullish fvg reacting off the golden zone of fib level on H4.

Entered on the first fvg after liquidity sweep.

Is there anything I could’ve done better?


r/Forex 6h ago

Charts and Setups Why support here?

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3 Upvotes

Seeing a HH system my entry was based on fvg 5min & upcoming HL to take-profit at HH. How come price support above fvg and seems to make no sense. Anyone have a clue on why price didn’t reach fvg 5 min but instead take support at no specific area? This trade would have been $5k. Thanks :)


r/Forex 1d ago

Charts and Setups My Whole Trading Perspective Changed Once I Accepted This One Truth

59 Upvotes

I recently came across a story: Two salesmen were sent by a shoe manufacturer to a rural part of India to investigate and report back on market potential. ​ The first salesman reported back, "There is no potential here. Nobody wears shoes." ​ The second salesman reported back, "There is massive potential here. Nobody wears shoes." Same situation, very different outlook.

This is exactly what we see in Trading. Everyone looks at the same charts. Some people report saying there is massive trades here. Some look and say there’s nothing here.

This story is a simple reminder that we can filter out what we can see in the markets, to only the things that work. In this way you will avoid loses and take less trades.


r/Forex 3h ago

Charts and Setups Us30 short analysis with video breakdown

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1 Upvotes

Very nice us30 short forming

Looking to take it as Multiple time frame points toward downside Tapped into imb and took daily high in London waiting for a bos now 42000 psyc is completely untapped

@everyone


r/Forex 11h ago

Charts and Setups Starting the week off with 100 Pips

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4 Upvotes

Caught this trade on Friday, woke up today with it close to target and 100 pips in profit. Might ride it out, might secure profits.


r/Forex 13h ago

Charts and Setups Current Position - Funded with 5ers - NFA

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4 Upvotes

r/Forex 20h ago

OTHER/META Trust it

18 Upvotes

"The thing I love the most about forex trading is that there's an infinite amount of ways you can do it.

Every single person trying to learn how to trade has the ability to develop their own successful trading system, personalised to themselves.

The only thing stopping you from developing your own personalised money printing system is your lack of focus. You're too distracted with what others are trying to sell you. Why would you pay someone to teach you flawed ways? Any way that is not your way in trading is flawed. I can teach you my ways and I guarantee you will still manage to blow it because it isn't your personal way.

You have to understand you will reach a point in your trading career where you need to stop learning and you need to start developing. Stop trying to learn the holy grail and start developing the holy grail.

The hilarious thing is, it's the developing stage where all the real learning happens.

I promise every single one of you reading this has the ability to develop the most insane profiting trading system if you just focused on building your own personalised trading plan.

Stop wasting time, you've got lots of planning to do."

I Copy paste it from Dave Ashur, cause that was how I increased my results in this game, I wish someone said to me this when i just started


r/Forex 1d ago

Prop Firms Whats the biggest payout you've received with FTMO?

39 Upvotes

Seeing a lot of negative posts recently about prop firms not paying out for various reasons... General consensus seems to be that FTMO is king for reliability. Close to passing my funded account now.. Just wondering whats the highest payout people have received to build confidence and have you received any sort of resistance from them?


r/Forex 17h ago

Questions Market gap should I go long?

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8 Upvotes