The Forex Guy Reviews Read Customer Service Reviews of ...
The Forex Guy TheForexGuy.com reviews and ratings by ...
Unathi Kwaza RT from Jimmy Ramokgopa: On a lighter note, here is a video on how to make money on the internet. Don't follow the links that are sent to you. Don't listen to the Forex guys. Here is a super-easy way. #Day14ofLockdown #ThursdayMotivation #ThursdayThoughts #forexsignal #Money #lock...
Whatsup Forex, Has anyone heard of theforexguy.com? I've been reading their articles and practising and of it on my own demo account (they preach price action) and I've been fairly successful. Let me just preface this by saying I have no affiliations with them, and I'm not here to promote anything, simply looking for information. They have got a paid area which if it's anything like their free stuff so far might actually be worth it down the track. So I was just wondering if anyone has had any experiences of exposure to them. Cheers!
I’ve been reading these posts on an off for quite some time now and it saddened me to see someone had recently posted their “I quit the game” statement. We all walk through fire to stand in the green valley...and the journey has to be made on foot. And alone. And it’s tough. In response, I wanted to add a list of pointers for people starting out in this insane game and to address what I’ve learned from over a decade of trading Forex. It’s long-ish but it’s based on reality and not a bunch of meaningless retail junk systems and “insider knowledge” by nitwits on YouTube or some 19-year old “whiz kid” who apparently makes ten billion dollars a week with a mystical set-up that’ll only cost you $1,999 to buy! I became a profitable trader by keeping everything simple. I lost thousands when I started out, but I look back now and realise how easily I could’ve avoided those losses. Keep Everything Simple. For the sake of disclosure, I worked for Morgan Stanley for over a decade in fixed income but learned almost everything I know from the forex guys whom I got to know as good friends. They make markets but there’s still a lot to learn from them as a small fry trader. I got into all this as a hobby after annoying the traders with questions, and all these years later it still pays me. There are still occasional nightmare accidents but they’re far rarer to the point where they don’t affect my ROI. Possibly the most clear statement I could make about Forex trading in the large institutional setting is actually a pretty profound one: Forex traders are not what you think they are: every single forex trader I ever worked with (and who lasted the test of time) had the exact same set of personality traits: 1. NOT ONE of them was a gung-ho high-five loudmouth, 2. Every single one of them analysed their mistakes to the point of obsession, 3. They were bookish and not jocks, 4. They had the humility to admit that many early errors were the result of piss-poor planning. The loudmouths last a year and are gone. Guys who last 5, 10, 20 years in a major finance house on the trading floor are nothing like the absurd 1980s Hollywood images you see on your tv; they’re the perfect opposite of that stereotype. The absolute best I ever met was a studious Irish-Catholic guy from Boston who was conscientious, helpful, calm, and utterly committed to one thing: learning from every single error of judgement. To quote him: “Losing teaches you far more than winning”. Enough of that. These points are deliberately broad. Here goes:
Know The Pairs. It amazes me to see countless small account traders speak as though “systems” work across all pairs. They don’t. Trading GBP/CHF is an entirely different beast to trading CHF/JPY. If you don’t know the innate properties of the CHF market or the JPY or the interplay between the AUD and NZD etc then leave them alone until you do. —There’s no rush— Don’t trade pairs until you are clear on what drives ‘commodity currencies’, or what goes on behind currencies which are easily manipulated, or currencies which simply tend to range for months on end instead of having clear trends. Every pair has its own benefits and drawbacks. Google “Tips on trading the JPY” etc etc etc and get to know the personality of these currencies. They’re just products like any other....Would you buy a Honda without knowing a single thing about the brand or its engine or its durability? So why trade a currency you know nothing about?
Indicators are only telling you what you should be able to see in front of you: PRICE AND MARKET STRUCTURE. Take everything off your charts and simply ask one question: What do I see happening right here and right now? What time frame do I see it on? If you can’t spot a simple consolidation, an uptrend, or a downtrend on a quick high-versus-low time frame scan then no indicator on the planet will help you.
Do you know why momentum indicators work on clear trends but are often a complete disaster on ranges? If not, why not? Do you know why such indicators are losing you tons of trades on low TFs? Do you actually understand the simple mathematics of any indicator? If the answer to these questions is “no” then why are you using these things and piling on indicator after indicator after indicator until you have some psychedelic disco on your screen that looks like an intergalactic dogfight in Star Wars? Keep it simple. Know thy indicator.
Risk:Reward Addiction. The greatest profit killer. So you set up your stops and limits at 1:1.5 or whatever and say “That’s me done” only to come back and see that your limit was missed by a soul-crushing 5 pips before reversing trend to cost you $100, $200, $1000. So you say “Ah but the system is fine”. Guys...this isn’t poker; it doesn’t have to be a zero sum game. Get over your 1:1.5 addiction —The Market Does Not Owe You 50 Pips— Which leads to the next point which, frankly, is what has allowed me to make money consistently for my entire trading life...
YOU WILL NEVER GO BROKE TAKING A PROFIT. So you want to take that 50-pip profit in two hours because some analyst says it’ll happen or because your trend lines say it has to happen. You set your 1:1.5 order. “I’ll check where I’m at in an hour” you say. An hour later you see you’re up 18 pips and you feel you’re owed more by now. “If I close this trade now I could be missing out on a stack”. So what?! Here’s an example: I trade in sterling. I was watching GBP climb against it’s post-GDP flop report and once I was up £157 I thought “This is going to start bouncing off resistance all morning and I don’t need the hassle of riding the rollercoaster all day long”. So I closed it, took the £157, went to make breakfast. Came back shortly afterwards and looked at the chart and saw that I could’ve made about £550 if I’d trusted myself. Do I care? Absolutely not...in fact it usually makes me laugh. So I enter another trade, make another quick £40, then another £95. Almost £300 in less than 45 mins and I’m supposed to cry over the £250 I “missed out on”?
£300 in less than an hour for doing nothing more than waiting for some volatility then tapping a keyboard. It’s almost a sin to make money that easily and I don’t “deserve” any of it. Shut off the laptop. Go out for the day. Does the following sound familiar? “Okay I’m almost at my take-profit...almost!.....almost!....okay it’s bouncing away from me but it’ll come back. Come back, damnit!! Jesus come back to my limit! Ah for F**k’s sakes!! This is complete crap; that trade was almost done! This is rigged! This is worse than poker! This is total BS!!” So when you were 50% or 75% toward your goal and could see the trade slipping away why wasn’t $100 or $200 enough? You need more than that?...really?! So point 6:
Tomorrow Is Another Day. Lordy Lordy, you only made $186 all day. What a disaster! Did you lose anything? Nope. Will the market be open again tomorrow? Yep. Does London open in just four hours? Yep. Is the NOK/SGD/EUR whatever still looking shitty? Yep. So let it go- there are endless THOUSANDS of trades you can make in your lifetime and you need to let a small gain be seen for what it is: ANOTHER BEAUTIFUL PROFIT.
Four or five solid but small profits in a day = One Large Profit. I don’t care how I make it, I don’t care if it’s ten lots of £20, I don’t care if I make the lot in a single trade in 30 seconds either. And once I have a nice sum I switch the computer off and leave it the Fk alone. I don’t care if Brexit is due to detonate the pound or if some Fed guy is going to crap all over the USD in his speech; I’ve made my money and I’m out for the day. There will be other speeches, other detonations. I could get into the entire process by which I trade but it’s aggravatingly basic trend-following mostly based on fundamentals. Losing in this business really does boil down to the same appalling combination of traits that kill most traders: Greed, Impatience, Addiction. Do I trade every day? Absolutely not; if there’s nothing with higher probability trades then I just leave it alone. When I hit my target I’m out for the day- the market doesn’t give a crap about me and I don’t give a crap about the market, if you see my meaning. I played poker semi-professionally for two years and it’s absolutely soul-destroying to be “cold decked” for a whole week. But every player has to experience it in order to lose the arrogance and the bravado; losing is fine as long as you learn from it. One day you’ll be in a position to fold pocket Kings because you’ll know you’re dead in the water. The currency markets are exactly the same in that one regard: if you learn from the past you’ll know when it’s time to get out of that stupid trade or that stupid “system” that sounded so great when you had a demo account. Bank a profit. Keep your charts simple. Know the pairs. Be patient. Touch nothing till you understand it inside out. And if you’re not enjoying the game....STOP PLAYING. [if people find this helpful I might post a thread on the best books I’ve studied from and why most forex books are utterly repetitious bullshit]. Peace.
What are your guys thoughts on Forex trading here at the stocks sub?
Currently teaching myself how to trade Forex right now. I feel like there are way too many fundamentals on a micro and macro level to be able to accurately pinpoint the intrinsic value of a stocks price without being an equity research analyst or doing insider trading. I guess I could trade stocks options? Hmmm.
Former host of a (very popular) breakfast TV show joins a Forex-related MLM. This guy was one of the main targets of October 2019 Chilean protests because he's considered a harasser and performed some acts of dubious morality. Pyramid scam name is IMForex, a**hole name is Karol Dance.
Using Technical Analysis on High Impact News Events
I have shown in several of my posts how my technical analysis strategies can be very effective in moves that seem to be news driven. Up to now, it's been mainly small events. Some guy says something about Brexit. Trump tweets. Little price movements, low impact events. Now I'll show you it on interest rates (the biggest regularly recurring fundamental events). Here are the trades I took shortly after the ECB announcement. https://preview.redd.it/2u68ujv238m31.png?width=810&format=png&auto=webp&s=5b5872c714206cbf67fd79e1f44bde5fc695c14d Here was my fundamental preparation for these trades. I don't know there is an ECB decision today. None of my trade plans have Euro in them, and I've just filtered for high impact news on currencies I'm trading. Someone I am chatting with on WhatsApp said the ECB are morons and they have to go because there's going to be volatility. I think to myself, "Yeah. ECB are morons". Then about 5 minutes later wonder if anything substantial has happened. Open EURUSD chart. See patterns. Execute trades. After this I Google "ECB". https://preview.redd.it/csp4z8lv58m31.png?width=850&format=png&auto=webp&s=d4a57ed1c26404e5eed689334fc2f6d7f14d1db8 This is not part of the analysis, it's just a little tip to techy traders. Sometimes you're going to encounter people who know fuck all about trading but here about these things and reference them to you, because you're the 'Forex guy/girl'. What I do takes quite a bit of explaining. It's a bit dry. Not fun at parties. Know what I am saying. So, instead of having to do that, now I can just say; "Woah. Yeah. You see that too? Wild stuff. Draghi went with the stimulus. Trumps not happy! I'll tell you that. DXY surely took a hit".
What do you guys think the pound will say in different UK general election scenarios? [Forex]
I'm positioning for a 10+ seat Tory majority to push the pound up to $1.35. The polls all seem to think the Tories have a comfortable lead and we saw a similar spike when May announced her deal. A hung parliament seems unlikely, and will make the pound very volatile, even if long term it leads to the UK staying in the EU. Still expect a fall coming next year as the UK-EU trade deal deadline looms and a no deal is back on the table. It'd be wise to sell if we see anything above $1.40
I read through the FAQ/Wiki and it gives some pretty good advice, but I noticed that it says not to pay for any groups as they are a waste of money. Then it cites a website that has a paid mastermind/mentorship (forex4noobs.com). So my question is have any of you actually paid for any of these? Because before I started on this subreddit I was actually thinking about joining forex4noobs or the forex guy . com for training. Both seem to have great reviews on forexpeacearmy by members. So if anyone has joined either of these, what would you recommend, yay or nay?
Guy Gentile || knowing the Difference: Options vs Forex
Gets best Day trading tips and knowledge by highly professional Day trader Guy Gentile. He is also providing best trading knowledge via his official web page DayTraderPro. Contact with Guy Gentilevia his social media sites and webpage to get daily basis trading tips and market updates. Guy Gentile Forex trading and options trading is entirely different and understanding how they differ is essential to becoming a successful trader. An option is a contract with fixed risks and fixed rewards. When trading options, you invest in the contracts that can trade stocks, ETFs or index products. With this, a trader must decide if an underlying asset (stock, commodity or currency) will go up or down during a period, and they can see upfront the potential earning if their prediction is correct. When trading Forex, the aim is to profit from fluctuating currency rates. Trading currency compares the value differences of two base currencies.
The Forex market is technically accessible 24/7, but most Forex traders don’t trade on the weekend. Connected to the stock market is the options market; therefore, there are trading restrictions to the standard 9 am to 4:30 pm trading hours. While trading 24 hours sounds great, it doesn’t allow for a rest period for the trader. With set trading hours, options traders have no choice but to stop after a particular time, which can be both physically and mentally beneficial.
Forex trades have no delays and execution is immediate. Option trades, on the other hand, can be delayed by many common issues experienced in different markets, except for the Forex market. Therefore, when trading Forex, you will most likely always get the price you want.
Leverage is the use of borrowed capital, most likely from your brokerage, to increase the potential return of an investment. When trading Forex, leverage levels are much higher than when trading options. Forex leverage can range between 50 to 400. While this is enticing, you must be very cautious when dealing with margin trading, as overexposure can lead to significant losses. With options, you can use putt and call contracts to increase your leverage significantly.
Forex traders must have position limits. That means that the trader’s online software will automatically create a margin call when the margin amount goes over the value of the trading account. Margin calls act as an automated safeguard that ensures the trader does not lose control of their losses. Also, with Forex, the trader determines the time between trades. Options trading, on the other hand, give the trader a specified period of trading before the options expires. But don’t count options out! With this kind of trading, traders can use strategies such as buy-writes to help eliminate the risks taken.
Options trading require a brokerage to be the middleman between the trader and the stock market. Fees are included due to this, as that is how most brokerage services are paid. However, with Forex trading there are no commission fees because it is an inter-bank market. Being an inter-bank market allows for instant buyer-to-seller matches without a go-between. If a trader does use a Forex trading firm, they will add a spread between the bid and ask price to make their profit. The Forex trader will end up paying slightly higher than the base currency.
Forex trading has many pros, but traders looking to make a decision must remember that this is currency trading. For day traders, especially this means that little fluctuation will occur during a regular trading day. This market only becomes interesting when a major world event takes place. But with options trading, the stock market allows for a more exciting trading day. Ultimately, the decision is yours. Make sure your trading choice matches your style and resources. For more Contact Guy Gentile: http://guygentile.com/ https://www.daytraderpro.com/
This course was useless, what a waste of money. Buy the book "Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications." It has the same information and goes beyond The Forex Guy. It's also cheaper as well. There is a whole site on "Dale Woods" and what a fraud he is. Just look it up. TheForexGuy.com Scam is quite an interesting tale involving fraud, lies, misdirection and other scandalous activity perpetrated by one Dale Woods, aka ‘Graham Blackmore’, aka ‘The Forex Guy’.. Before I start though it’s essential that you remember how the classic scam artist and fraudster operates when cornered. That_Forex_Guy FX:AUDJPY Australian Dollar / Japanese Yen. Trend Analysis. 263 views. 4. 2. trendanalysis. THIS IS ONE OF THE BEST FOREX METHODS OUT THERE BECAUSE IT TEACHES YOU HOW THE MARKETS ACTUALLY MOVE AND ALLOWS YOU TO STAY AWAY FROM MARKET MANIPULATION AND CAPITALIZE ON BIG MOVES FOLLOW: ... You can talk directly with The Forex Guy, or other experienced War Room Traders. Share your trade ideas, talk all things Forex, ask questions and learn from others who have the answers to help you reach your trading goals. No trade signal gets unnoticed by the collected activity of all the War Room traders scanning the markets. Dale, the Forex Guy, is a phenomenal teacher, especially for newbies. I've spent a lot of money on other sites, and they all have something good to contribute. However, I feel that Dale provides perhaps the most comprehensive, easy-to-understand explanation of what the charts really tell you.
Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Want the tools I made for MT4 & 5? Go here - https://www.theforexguy.com/download/ Technical analysis is a tree with many branches. But instead of focusing o... Providing you with the most elite forex, crypto, and investing advice out in the public market! These are strategies that the big banks use to manipulate the... Want the tools I made for MT4 & 5? Go here - https://www.theforexguy.com/download/ In today's Forex price action trading video we are looking at a mean rever... Download my tools: https://www.theforexguy.com/download/ In today's Forex price action trade tutorial, I wanted to talk a little on quality control, and how ...