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17094841 No.17094841 [Reply] [Original]

Asian session

>what is Forex
Forex, also known as foreign exchange, FX or currency trading, is a decentralized global market where all the world's currencies trade.

>Why should I trade Forex?
The Forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $5 trillion. All the world's combined stock markets don't even come close to this.

>ok OP i'm curious where do I start?
if you totally new this is the ultimate beginners guide
https://www.babypips.com/

if you're a little advanced which I'm assuming you are, this guy is the ultimate resource possibly even one of us He even talks about bank manipulation and how to make it work in your favor
https://nononsenseforex.com/

>best broker I've found but feel free to shop around make sure to sign up for a meta trader account and not a webbased so you can use indicators
https://www.oanda.com/us-en/
I know theres a few anons who trade and I'd like to get talking

>> No.17094905
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17094905

>>17094841
I use LMFX, Traders Way, FxChoice and LQDFX as a US client and have had no problems.
I'm also testing PaxForex, FxGlory and AAFX since the new year...seem to be good so far on all of them.

>> No.17094952

>>17094841
Can I trade with $200? I'm in college and poor

>> No.17094979
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17094979

Bump

>> No.17094990

I've played trading simulations on forex. On paper I can make a lot of money. In practice I don't know how I'd do.

>> No.17095018
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17095018

>>17094952
Yes, thats small but enough to open an account but if you haven't traded forex before, i dont recommend using actual fiat before at a minimum 6 months of trading on a demo account. Virtually any broker can let you open a demo account with play money and let you trade all you want to get a feel for the platform and trading. Only after a long while will you actually fund your account.

>> No.17095036

>>17094841
How is the volume and volatility after the nyse closes? Is there enough to make money when I get home from work?

>> No.17095051
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17095051

>>17094990
It took me several years to be successful...I worked my day job and traded part time and blew alot of money over those first years (at least 10k)...over time I stuck with it and over the past few years i made over 250k per year. Its doable, just stick with it...the forex market ain't going anywhere!

>> No.17095075

>>17095036
Not really to be honest, Asian session is pretty weak. I don't really trade intraday, so some body else could better clarify.

>> No.17095104

>>17095036
Its usually lowest from 4pm to 10pm e.s.t.
If you want volatility, its best from 2a.m. thru 10a.m. e.s.t. (yes, forex uses g.m.t. but I'm simplifying the conversation)
So what can you do if those hours arent best for you?
Use those slow night hours to chart your next trade. You can place you trade anytime and even set limit buy/sells so experiment on a demo account and go from there.
And unlike crypto, TA is NOT a meme in forex, but I use it very little anymore simply based on my experience.