Who Want's To Get Into Forex And Stocks With Me?

RodRod The Rodfather

I want hack these things...


 


This group will put their heads together and learn about stocks, forex, and other stuff to find a ways of making profit. We will be using Investopedia for simulation and will use systems thinking to hack this!


 


 


Everything I learned about "biohacking" has been baby steps to "circadian biology", that's where the real biohacking comes in. You can buy a bunch of cool shit to "hack" but if you don't have context, you're not winning. Paleo is just a brand now and too many have opinions, it's on you to read and reread the material to not only find truth but to connect the dots. Much love to everyone who has helped me on my journey for restoring my health, please keep in touch. Feel free to message me with health questions [email protected] 

Comments

  • StevoStevo Upgrade in Progress

    Mate, I'd love to!


     


    I used to play around with this using Metatrader. Its free to download: http://www.metaquotes.net/


     


    I found some advice on Linkedin that I kept, I'll post it here:


     


    1) www.babypips.com start in nursery school and complete all courses

    2) develop a trading plan

    3) trade AND DO NOT DEVIATE trading plan, e.g. changing stoploss to a larger drawdown because you THINK a trade will come back

    4) TRADE YOUR TRADING PLAN

    5) On Saturday, review ALL TRADES from the week good and bad, You would not believe how many perceived good trades were bad ones, and how many assumed bad trades were good ones. ANY AND ALL TRADES are a 50:50 proposition

    6) Revise trading plan based on review, a golden rule you will find that MORE THAN 60% of trades by the best of traders will fail, and LES THAN 40% will succeed. Why is the trader profitable? because of proper Money Management. The point of a trading plan and your desired style of trading is dependent on your understanding of HOW TO RECOGNIZE AND MAXIMIZE PROBABILITIES of a successful trade.


    What I find personal easy to understand I know can be extremely complex from the perspective of others.


    EGO is the hardest trading attribute to beat. I find that there are a few types of newbie traders. First those that will take a class and regardless of what is taught they still (and always) seek out the path of least resistance, usually leading to a robot or undoubtedly over simplified passive system.


    Another The EGO takes over and the class of trader sets out to prove that they can develop a better system than their mentor (this was me btw) and usually will end up spending all their time optimizing and never getting to the point of placing a trade.


    Very few individuals I find are able to break through the ego and just mindless follow a system that has been proven to work.


    The short answer is that YOU HAVE TO FIND FOR YOURSELF what you recognize works for you. YOU HAVE TO DO DO DILIGENCE and put the work in to understand the why and how of a system strategy PRACTICE PRACTICE PRACTICE with demo accounts until you see you are hitting that 40% success rate.


    There is a good reason that very few traders can make a living out of it. GETTING RICH QUICK IS NOT A POSSIBILITY


    SCALPING is a sure way to loose your account, After many many years I SELDOM trade a time frame under 4 hours unless I am willing to loose money. 4hour and daily can be potentially very profitable with the right strategy.


  • Star ChaserStar Chaser Powered by Shred

    I'm down, and i got the grade 8 math award son!


    I am a Video Game composer under the pseudonym Star Chaser.

    twitch.tv/starchaservgm (streaming most saturday and sunday nights EST)

    Guitarist:

    https://youtu.be/8L0SkovqEf4

    Next cover is Die by the Sword by Dragonforce.

    Music/Health/Biohacking Blog and Podcast currently under construction.

    Thanks to the internet, health experts, and my unending curiosity, I have overcome: excessive sweating (adrenal fatigue), anxiety and panic attacks, extremely high estrogen levels (man boobs), chronic brain fog (yeast overgrowth), depression, and am currently battling SIBO (took it from being so bloated it felt like my stomach skin was going to rip, slept 2 hours per night for a week because of upset stomach and being chronically fatigued to very mild, manageable but still annoying symptoms) and currently battling sleep deprivation/insomnia probably due to the SIBO/Leaky Gut and resulting histamine intolerance.

  • RodRod The Rodfather

    Sounds good! Email me in the signature!!!


    Everything I learned about "biohacking" has been baby steps to "circadian biology", that's where the real biohacking comes in. You can buy a bunch of cool shit to "hack" but if you don't have context, you're not winning. Paleo is just a brand now and too many have opinions, it's on you to read and reread the material to not only find truth but to connect the dots. Much love to everyone who has helped me on my journey for restoring my health, please keep in touch. Feel free to message me with health questions [email protected] 

  • StevoStevo Upgrade in Progress

    We need to figure out phase 2:


     


    Gnomes_plan.png


  • romansbromansb BulletResistant

    Let me know when phase 2 starts and I'll join in


    Where I post my research:
    buildingabetterhuman.com


    "Simplicity is the ultimate sophistication" -Leonardo Da Vinci

  • underwear-quilt-550x412.jpg


     


    I have found the required underpants! :p


  • edited December 2013

    I would like to join. I assume this is a skype group? Pm me the skype adress I have to add please :)


     


    Would like to add that so far I did study economics and finance, and did read some parts of the intelligent investor, the ivy portfolio, rich dad poor dad and the automatic millionaire, but I didn't buy stocks yet, but I would like to start with it. Also for my job I face a lot of risk every day, so I think I can am mentally very well prepared for this journey.


  • I didnt know there were any forex traders here. I have been learning it on and off for the better part of 4 years. It is a very tough and unforgiving industry. You can get along well for a long time, then get cleaned out in a short time. My advice if you are learning is to build your own SIMPLISTIC strategy. It seems the more complex people get with this the more trouble they run in to.  


    Its funny to have read this, as I have just last month started being a referring agent (introducing broker) to a company called "Managed Forex Hub" to bring some of my clients to. These guys are doing it right at least. They are regulated, are diligent, use good brokers (mostly ones in Australia). They offer a few different programs to diversify in to (their combined monthly average has not produced a negative month lower than -1% which is quite impressive to me). Now, these guys do the forex trading for you, but you can still learn a lot from watchign their programs trade in real time, and they do offer an educational monthly recap as well. If there is any interest, I would consider giving my commission to fellow BPers so they pay a reduced commission overall. I will have to check on that. If so, I will start a new thread about it. I can attest to their transparency, enthusiasm and overall experience and abiity to make money.


    Other than that, if you are going go at it on your own, here are a few tips. 1. Be prepared to spend a looooot of time on developing your strategy (I am talking years here, not months). 2. Be prepared to lose a lot of money at the start, if you decide to trade with real money that is. A better idea is to only trade on a demo account with a live price feed, until you are profitable over a 6 month span and various market conditions. A year would be better. 3. Don`t get discouraged at lack of success, especially at the start. You almost need to go through a long and painful learning process, and more or less dedicate your career towards this to make long term money. It is very very rare to find hobby traders who make money consistently between their other jobs and business ventures. This is sort of the reason why I decided to become a referring agent to Managed Forex Hub vs dedicate my own career towards it.


    If you are set on becoming a professional FX trader yourself, here are a few important tips I have learned to keep at the top of you list.


    1. Work on a 1:1 or greater risk:reward protocol for your risk management strategy.

    2. Automate any part of your analysis if it is possible. If you are trading primarily technical analysis it is quite easy and cheap to pay someone to code your set of rules in to a trade indicator, where you can get an email or text message any time a trade set up occurs. It will save many hours monitoring different currency pairs looking for trade set ups. You can still use your discretion or not on whether to take a trade or not, but the analysis you look for is automated.

    3. Get (and keep) a life. Including hobbies. Otherwise you will get consumed emotionally and physically and over-financially by the markets. It can effect your health, stress and relationships.

    4. Try to keep your Take Profit levels AND Stop Loss levels at or under 50 pips.

    5. Try to keep your average duration per trade under 8 hours, and preferrably under 4 hours.


    The Managed Forex Hub guys have taught me that there is a lot of strong evidence from people who are long term data miners that trades spanning longer than 1 session (say the UK session for example) have a 50-50 chance of succes based on your initial plan for the trade after approx 8 hours. So if your trade had an 80% success rate based on your strategy when you entered it, if it doenst reach its target win or loss after 8 hours it then becomes a coin a flip. So naturally smaller pip targets and stops will also keep you in that time window as well. Shorter term strategies keep you out of the market more and less susceptible to getting caught in a fundamentally influenced moves (less exposure).


    I hope that this helps some of you.

    Good luck, and be careful!


  • There is no reason for you to lose large amount of money trading. Before every trade determine your max loss or sell point and stick to it. Sure you'll miss out on profits but you'll save alot more in potential losses. Several buy ins and stop losses are far better than one buy/one attempt. 


     


    Also learn put options. The cost of put options can be high but in most cases they will cost less than your actions. 


  • Star ChaserStar Chaser Powered by Shred

    Thanks for the advice! I've finally managed to carve out a chunk of time to dedicate to this so i'm going to start out with the babypips site and read the intro to forex traiding ebook that was posted on a nother thread.


    I am a Video Game composer under the pseudonym Star Chaser.

    twitch.tv/starchaservgm (streaming most saturday and sunday nights EST)

    Guitarist:

    https://youtu.be/8L0SkovqEf4

    Next cover is Die by the Sword by Dragonforce.

    Music/Health/Biohacking Blog and Podcast currently under construction.

    Thanks to the internet, health experts, and my unending curiosity, I have overcome: excessive sweating (adrenal fatigue), anxiety and panic attacks, extremely high estrogen levels (man boobs), chronic brain fog (yeast overgrowth), depression, and am currently battling SIBO (took it from being so bloated it felt like my stomach skin was going to rip, slept 2 hours per night for a week because of upset stomach and being chronically fatigued to very mild, manageable but still annoying symptoms) and currently battling sleep deprivation/insomnia probably due to the SIBO/Leaky Gut and resulting histamine intolerance.

  • Good luck Roxas. I hope you rock the cash box. Remember to stay on demo for a long time, until you at least start feeling confident in your abilities. Here is some other tips when designing your strategy - try to remember the 60-30-10 rule.  On average, the markets are in a trending mode only about 30% of the time, breakout mode only about 10% of the time and in a counter-trend, or ranging mode about 60% of the time (meaning they just meander along sideways). If you can scalp and capture smaller intra-day pips you will have the majority of the market covered (this applies to ANY market and any time frame - not just FX). Then if you develop a method to clearly identify and profit from the other two modes (break out and strong trends) you will be able to profit in mostly all market conditions. That however is the challenge that every trader is faced with identifying and profiting from the 3 market environments.


    Oh, and by the way this is 60-30-10 rule is not a new concept, It was first talked about way back by French mathematician Louis Jean-Baptiste Alphonse Bachelier (often referred to today as the “Einstein of Finance”) in his 1900 PhD thesis, the Theory of Speculation in which he said:

    “Random noise (ranging markets) is what defines the normal market behavior. There are only two other types of market movement that are outside of the zone of random noise: market spikes (breakouts) and trends.”


    So if you are going to build your strategy, I would focus on pulling pips from a ranging market, following the principals in my other posts (keeping TPs and SLs at or under 30-50 pips if possible).


     


    The Managed Forex Hub funds are peforming fairly good so far this month. 4 of the 5 are positive so it should result in a net monthly positive average. The diversied approach is clever. You can view the average of their programs here: http://www.managedforexhub.com/performance-table/.

     


    Some people will tell you its to difficult to to cherry pick short term pips. But trust me on the ranging market mastering. You can make big money from the big mones when they happen (like what is happenign this month). But ranging market trading allows wou to pick the “Low-Hanging Fruit” while you wait for these big moves to occur.


     


    Best of luck Roxas!


  • StevoStevo Upgrade in Progress

    Is this a subject we could apply DiSSS and CaFE to?


  • edited December 2013


    The Managed Forex Hub funds are peforming fairly good so far this month. 4 of the 5 are positive so it should result in a net monthly positive average. The diversied approach is clever. You can view the average of their programs here: http://www.managedforexhub.com/performance-table/.


     




     


    ---


     


    I got pretty interested in this based on the returns shown in that table. I read through their website for an hour or two and began the process of opening an account with them. However, I started to do some digging around and now have serious doubts. Managed forex seems to be a huge area for scams -- do a google search to read up. 


     


    Some red flags for the above:


     


    Their table shows trading activity dating to 2010, but their domain registration is 8/2012


     


    On their About page, they list some credentials, based out of New Zealand. However, there are a variety of inconsistencies. If you search the referenced database, first off, you won't get a hit if you use the claimed parent business name, APC. If you enter their license number, you will get the Atlantic Pearl Limited entry, which doesn't even quite match the 'APC' acronym. 


     


    It's registration date is October, 2013.


     


    Atlantic Pearl has a New Zealand street address, but the country of origin is listed as Dominica. It happens that I've been to Dominica, it's a tiny little (gorgeous) island in the Caribbean. 


     


    Next down their About page is the Financial Dispute Regulation Scheme that they allegedly belong to. Enter their license number in the search on that site and you get no results. 


     


    Finally, if you just google their domain name, you get almost no results other than their own website. There's no listing or mention of them on ForexPeaceArmy at all. If they've been in business for several years they've done a stellar job of remaining under the radar. 


     


    I'm attracted to the idea of a managed forex account, but it sure looks like it's hard to find one you can trust.


    Biohacking News 

    Tracking biohacking developments and the movement to realize a higher level of human potential.

  • Tinker, yes, you certainly do have to be careful out there. There are a lot of scams and unregulated trading companies I am sure. I can answer some of this as I have conducted a lot of due diligence on them already. I am actually in the process of setting up an advisory/consultancy business for some high net worth investors I know locally, so I have recently been looking for good opportunities to present to them (in the futures and forex markets). These guys check the boxes for me, but I am still looking for more.


    As I understand they are a "hub" more or less, meaning they do not do the trading, they hire various traders who pass their due diligence checks to manage accounts for their clients. IF they perform good they keep them, if they don't, they remove them. So for example if they approved a trader who had a history going back to 1999 and they could verify it, then they would provide the trading history (even if it went back further than their domain was registered). That is why there are trading histories prior to the domain I would suspect.


    I asked about the same thing regarding the company. This is what I was told. Atlantic Pearl Ltd (APL) is the trading company that trades the accounts for investors by agreement (at all but one of their brokers). I was told that it is licensed in the Commonwealth of Dominica for the reason that it is a tax neutral jurisdicion there and they have various partners in different countries. They opened a "branch" or an overseas company in New Zealand, which obtained the registration of a Financial Service Provider. They sent me this when I asked: http://www.managedforexhub.com/downloads/fsp/APL_Certificate_of_Registration_NZ.pdf. Also, I can see that they are in fact licensed on the government website here: http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryOtherFSP/FSP283525/6.do.


    I also found them on the Financial Dispute Resolution Scheme site here: http://www.fdr.org.nz/member_search/scheme_member/302840 (I searched by their name). So they do have a type of arbitration if ever needed which is nice. Lastly, I cross referenced all what they said with one of their brokers that they trade at to ask them if they were approved money managers there. The broker in Australia I spoke with confirmed to me that they were and had good things to say. So things have checked out for me thus far, and they seem to be a professional group. It seems that they work primarily with private clients or investment groups as their main client base. Tom if you do decide to do any work with them at all, please mention that you heard of them from Justin Watts as I am asking if I can get a reduced rate for any clients I bring to them based on volume.


    The good thing is that everything is pretty transparent. Trades can be seen in real time. There is no lock in periods, just come and go as you please and you get to retain control of your account (so you dont have to send your money directly to them you just open your own trading account). I like this structure. If the trading is not good you can close the account in an email or phone call to the broker.


    I will let you know if I experience any problems along the way, but there haven't been any yet. As always do your own due diligence though as you should on anything.


  • Also, worthy of noting I am talking to these guys as well: http://www.worldcupadvisor.com/. They have some OK traders on there including some Forex traders. Between the two of these groups I think that one could build a good non-traditional type of portfolio.


    Once I have my own advisory company set up I will sort of be a "hub" myself with various reviews and opinions and experiences with such groups. I hope for it to be helpful and valuable to many including myself.


  • Dusty, good info, thanks. It looks like one of those tough calls where it could be a legit operation that just has some loose ends. The site does look good and a couple of links that were broken yesterday are working now (in particular, links to the prospectus for each fund). On the other hand, this is just how cons work -- a solid explanation for everything and always just enough of a carrot to be believable. 


     


    Oddly enough I've been going through the exact same thing on my other current investing interest, bitcoin. I've been looking into doing some mining and purchasing mining rigs is full of shady organizations and also takes a lot of due diligence. 


     


    I'll have to dig a little more on managedforexhub and if anything, open a minimum account. Thanks for your feedback and good luck with your other endeavor.


    Biohacking News 

    Tracking biohacking developments and the movement to realize a higher level of human potential.

  • GarrettGarrett
    edited January 2014

    If you're still into doing this, I'd advise reading "The Intelligent Investor" by Benjamin Graham, before moving into anything. Warren Buffett holds this book (and the author of the book, who happened to also become his teacher in school, and in life) in the highest regard.


    Warren Buffett is also the #1 investor on the planet.


     


    I'm reading the book to give me a basic foundation in investing, before delving into the stock market (or any other investments).


  • StevoStevo Upgrade in Progress

    "The Intelligent Investor" is about value investing isn't it? I have that book but still haven't read it. I'm sure there will be some cross-over with forex trading.


     


    I just joined the forum at babypips. I've been thinking about it: if I can learn what I've learnt in the BP forum about supplements and the human body etc, even though I'm not a "biology guy", what would I be able to learn with the same focus in the forex forums, considering I am a "money and numbers guy". Duh right! ;-)


     


    I want to go balls deep on this trading stuff; its time to take some of that $4trillion that floats around the market on a daily basis!


  • Since it's the basis of Warren Buffett's investment philosophy, my feeling (I'm still reading it) is that it will create a solid foundation for you, for approaching any type of investments.


     


    It would make sense to read the book which the greatest investor on the planet credits to his success, yes? ;)


  • StevoStevo Upgrade in Progress

    Of course ;-)  Its a different kind of investing though, that's what I was getting at. 


  • I agree, though the foundation would likely still be relevant, no matter what type of investing you're getting into.


  • Interesting. I studied Forex for about a year, worked my way through the babypips website, but failed to make any profit (broke even) and reasoned that recreational traders are just fish for the big movers. I then took up poker for 2 years and again broke even, people online got too good and you just lose to the rake.


     


    I would love to get back into either stocks and investing, but i am doing a full time degree so i have to manage my time wisely and i don't want to pursue something that i may never see returns on.


     


    On the flip side i love learning and once i get committed on something i go balls deep on it.  


  • edited March 2014


    I then took up poker for 2 years and again broke even, people online got too good and you just lose to the rake.






     


    Did you use PokerTracker 4? I am having early success with it. Really helped tighten up my game and keeps track of some players I should avoid.






  •  


    Did you use PokerTracker 4? I am having early success with it. Really helped tighten up my game and keeps track of some players I should avoid.




    I did use PT4, it was essential. How long have you been playing and what stakes?


     


    Not to put a whole downer on it but i found the hours put in did not match the almost non existent rewards. I had professional coaching who took me through the game theory optimal way of playing. Fascinating, but i couldn't get the results. 

  • I have a firm called Emerald Summit Capital - we specialize in intraday- and day-trading if you want to work with us to maximize your short-term profit. All funds are custodied at a reputable broker, not directly with us, and a recent trade history can be provided upon request.


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  • CycloneCyclone rich in satisfats
    I wish I could trade more but im heavily restricted because I work indirectly in the financial industry.


    I would stick to stocks personally, only big stable companies, keep it to less than 10 because you need to be following all the news about those companies. Ideally find stocks that have a consistent sway in stock value and then day trade the hell out of them.
  • Hi. My name is David. I've been learning to trade Forex since 2006.


    After 7 years. These is my advice.


    1. The higher the time frame (anything 4hr and above) the less detail the bars are form and the more straightforward sentiment is.


    2. Lower time frame is as detailed as hell (anything below 4hr). Do not engaged in the lower time frame unless you know where price is going at the higher TF and take action base on that.


    3. Study only price action and understand how Wyckoff theory fit into it. (yes even the market is by market makers)


    4. Ignore all candlestick except engulfing candlestick. Shooting star and hanging man. They are possible reversal sign. The rest is meant to confuse.


    5. Ignore money management. But don't ignore exits. The key to staying alive in trading is to lose less than you make.


    6. Before taking on a position. Always know these 4 things.

    ... Where is the market going?

    ... Is it doing a good job getting there?

    ... How can I reduce my risk?

    ... How can I maximize my profits?


    Sleep over the above questions if you don't know. Our brain have the cognitive function to present the solution.


    7. You want freedom because you trade. Not the other way. Many times I'm a folly of it. But ever since I learn to trade using just my Samsung Note 3. Volume and ADX. I can be anywhere doing anything because I only see my every 1hr and that is every 4hr of setup spotting.


    8. Bulletproof Hack - Leverage on credit card and Cashback deals. Credit card to make better returns base on capital size. Cashback deals, they return a portion of the spread you paid to your broker as commission for trading with them. I did 3. I use my wife account to register my affiliate commission with my broker. Than I use the broker affiliate to give commission from my wife account to me. So for every spread. I get paid 3x.



    Regards

    David
    Bucket list - 6 Pack Abs Before I Die.


  • Hi. My name is David. I've been learning to trade Forex since 2006.


    After 7 years. These is my advice.


    1. The higher the time frame (anything 4hr and above) the less detail the bars are form and the more straightforward sentiment is.


    2. Lower time frame is as detailed as hell (anything below 4hr). Do not engaged in the lower time frame unless you know where price is going at the higher TF and take action base on that.


    3. Study only price action and understand how Wyckoff theory fit into it. (yes even the market is by market makers)


    4. Ignore all candlestick except engulfing candlestick. Shooting star and hanging man. They are possible reversal sign. The rest is meant to confuse.


    5. Ignore money management. But don't ignore exits. The key to staying alive in trading is to lose less than you make.


    6. Before taking on a position. Always know these 4 things.

    ... Where is the market going?

    ... Is it doing a good job getting there?

    ... How can I reduce my risk?

    ... How can I maximize my profits?


    Sleep over the above questions if you don't know. Our brain have the cognitive function to present the solution.


    7. You want freedom because you trade. Not the other way. Many times I'm a folly of it. But ever since I learn to trade using just my Samsung Note 3. Volume and ADX. I can be anywhere doing anything because I only see my every 1hr and that is every 4hr of setup spotting.


    8. Bulletproof Hack - Leverage on credit card and Cashback deals. Credit card to make better returns base on capital size. Cashback deals, they return a portion of the spread you paid to your broker as commission for trading with them. I did 3. I use my wife account to register my affiliate commission with my broker. Than I use the broker affiliate to give commission from my wife account to me. So for every spread. I get paid 3x.



    Regards

    David




     


    Just want to add to this. This guy is totally spot on. Personally, I've been trading stocks using Wyckoff methodology for 2 years now. Other than the writing of Richard Ney, I've seen nothing that comes close, I've read maybe 40 trading books now, every time I go back to Wyckoff.


     


    The problem with using indicators is that it is generally not one bar 'signal' that changes the long/medium/and even short term trend of the market. It's volume over several days/bars and series of retest of prices levels before a trend is reversed. For that reason when trading indicators give you false hope and cause you to focus to minute details of the market. If you focus on single bar indicator like some candlesticks patterns, you'll be knocked out of the market easily on a deliberate shakeout. 


     


    I would high recommend studying the big picture of a market, what it takes to start and end a trend and market phases, who is actually controlling the market you're trading, the difference between public traders and professional traders, etc. 


     


    One exception in regard tor newbietobiohack is that everything that matters to me is volume. Specifically, how price is used to influence volume. Now i know you can't really see volume on Forex but I also trade currency futures which does show volume and mirrors Forex. 

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