What is Two Blokes Trading? Two Blokes Trading is a fun and informative podcast and website for new and experienced home financial traders. It follows us, Tom and Owen, as we learn to trade profitably and consistently. We interview leading traders and trading industry insiders every week on the Podcast to give our listeners the best chance of becoming profitable traders.
Ive been invited to an online Forex seminar. Gut tells me it's a scam. A bit like the Amway of investing. Am I wrong?
So, a chap I know is doing the hard sell on Forex. Sure, I'm interested to learn, but almost everything he says sounds scripted. The link to the video says to get back to the person who referred you. Something doesn't seem right to me. I'm not going to join them, but have any of you come across this and what are your experiences or comments?
When you lose your hard-earned possession, your natural instinct tells you to get it back. You act on the impulse and strive to take it back. But should you do that with the market? Will the market cut some slack for you? Get your answer here. https://wetalktrade.com/revenge-trading-forex/
My friend from highschool is in what I'm pretty sure is an MLM (it's called forex) and is calling to tell me about it later today. What should I know going into this?
The group is well known enough where you can Google forex MLM and see a fair number of results. On his Snapchat story, he's constantly pushing recruitment for the group, telling people "it's as easy as this to make money!" It checks all the MLM boxes.
That being said, I don't want to ignore his call unless I absolutely have to for safety. What should I know going into the call to protect myself?
I am going to tell you a very kept secret from forex mentors that will never tell you
You need big amount of cash to put in the account balance in order to trade forex. And by trading I mean proper trading. BUT before that, train yourself on small account balance and take small pips in order to elevate your forex skillset. Delete your emotions. Have a plan and trading time. Develop good patience. Then slowly rise up on a bigger account. That is forex. You are paid to wait. <- Read it again
Hi guys just wondering, is forex trading like stock trading where you buy a certain stock and sell it once the value is high? Is it like that? Because one of my friend told me is absolutely different. Can anyone pls tell me i’m tad bit confused now :(
I'm trading for 11 months with pretty good success. I never traded metals and forex before, just stocks. Today when gold started to consolidate at the last hour, I decided to scalp short it with a large amount, so I opened 100 lots. I haven't realised, in forex 100 (lots) doesn't mean "100 pcs", because I used to stocks and I went full retard without knowledge. Seconds later, I realised it means 10 million dollars (1 lot = 100.000, and I had 500x leverage). It moved up a bit and immediately I was down £4000. I scared as fuck and rather than closing the position quickly I hoped maybe I could close break even. The market closed, and I waited for the Asian session. The gold popped like never before, and I lost all my life savings (£55000) in less than two hours. (including the 1-hour break between sessions). If I count that I lost all my earnings as well, I lost around £85000. Here is the margin call https://imgur.com/a/XY5m4ZA https://imgur.com/a/VSgmCSs https://imgur.com/pRWl5g9 IC Markets closed my position partially in every 1-2 minutes until I shut it myself at £35. You know the rest of the story. I'm depressed, crying and shouting with myself. Yes, I know I was stupid, thanks. I just wanted to share this with you. Edit: WOW THANK YOU, GUYS! I haven't expected this, but you help me. Many of you asked the same questions, I answer it here: - I live in Europe, and we usually trade CFD's, not futures. - Currency in GBP. - As you can see, this account made on IC Markets. They not just allowing you a 500x leverage, it's the default. - You can ask me why I went against the market. Because gold is way oversold? Because I expected institutions would sell their shares before gold is hitting £2000, leaving retails hanging there. Also, as I said, I wanted to scalp, not riding the gold all the way down. If I had a loss of £100, I would close the position immediately. But when I saw the £4000, my heart is stopped, and my brain just freezes. - I went for a revenge trade with my last £2k, and I don't have to say what happened. I uninstalled the app, and I give up trading for a while. - Again, in the past months, I was cautious, I lost a significant sum in March, but I managed to recover. Made consistent gains, always with SL. This is just an example of how easy is to fuck up everything you did. - I didn't come here for some shiny digital medals. I can't tell about my losses to anyone who I know in real life. I would make a fool of myself. - Anyone who attacking me that it is a scam. Well, think what you want. I feel terrible and the last thing is to answer all the messages saying "You fucking karma whore". I don't give a shit about karma.
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Lesson 1 - What is Forex and how does It work? - YouTube
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