Foreign Exchange Trader Salaries by education, experience

The Salary of a Forex Trader | How Forex Trading Works

The Salary of a Forex Trader | How Forex Trading Works submitted by HowForexTradingWorks to Forex [link] [comments]

Learn How To Trade Forex - Can A Beginner Make Money In Forex Trading?

Introduction
Contrary to what every Forex 'expert' out there would have you believe, it's not easy to learn how to trade Forex at all. Trading Forex is one of the most challenging skills you can ever set out to learn, which is especially daunting if you're a beginner just starting out to learn how to trade Forex. If you're finding it hard to learn how to trade Forex successfully right now, you're probably wondering: "Can a beginner make money in Forex trading?" By the end of this article, you'll know what you can do to make money in Forex trading right now.
Can A Beginner Make Money In Forex Trading?
If you have a look around the many Forex websites, forums, seminars and magazines, it seems like everyone's making millions of dollars trading Forex! The thing is, Forex traders love to talk about their winning trades and make themselves out to be wildly profitable traders, but the reality is that only 5% of Forex traders are consistently making money. Yes, even a beginner can make money in Forex trading, but there's a big difference between making money in Forex and making a full time income, achieving financial freedom, and building wealth through Forex.
What Stops Beginners From Making An Income
So what's stopping beginners from making a consistent, long term income from trading Forex? Well, unlike the professional Forex traders working for the big banks and hedge funds, most beginner traders learning to trade Forex aren't paid a full time salary to immerse themselves in the markets. If you're just starting out in Forex, then you've probably got a full time job that you spend at least 8 hours a day on, and a family and social life outside of that. That means that you have a very real shortage of time to get yourself to the level where you can trade like a pro, and believe me, it takes a lot of time and consistent effort.
It takes years of study, practice and real experience in the markets to learn how to trade Forex successfully, and get to the level where you can consistently make money in Forex trading. Not to mention that you'll be taking on, for all intents and purposes, an unpaid part time job that will chain you to your computer while you are trading. It's something that will alienate you from your social circle, and put considerable strain on your family relationships as well. It's no wonder that most traders wanting to learn how to trade Forex will give up within 3 months, and never make money in Forex trading.
What You Can Do To Make Money In Forex Trading Now
So what can you do to make money in Forex trading right now? The best shortcut I know is to buy a proven Forex trading system to do your trading for you. I'm not going to look you in the eye and tell you that you can just go out there and pick any system and make millions, because that's simply not true. Profitable trading systems are rare, and you need to choose very carefully. That said, if you can find a trading system that works, you can overcome the biggest challenges any trader faces while they learn how to trade Forex. You'll be able to gain valuable Forex market experience, preserve your personal relationships and most importantly make money in Forex trading while you learn how to trade Forex.
When you've built up the capital and income of your Forex systems operation, and have gathered up valuable trading experience, you may decide to try out trading Forex for yourself. Regardless of whether you trade with an automatic Forex system in the short, medium or long term, it's a powerful solution that will enable you to make money in Forex trading even if you're a beginner.
submitted by Ozone21337 to BestForexTradingtools [link] [comments]

Should I alter my career path for FX?

I am a premed student that just finished college and is on course to start medical school next fall (2021). I've always been pretty good at school and absolutely love science. My mom is a doctor, and 2 of my siblings are also docs. I'm the youngest. I also have a few cousins that are docs. As you can probably guess, I've been kind of groomed to be a doctor. There's always quite a bit of pressure from my family to become a doctor. However, my parents put me through school with no loans and gave me pocket money so they do have a lot invested in my career choice. Also, nuclear and extended family members have always told me that out of all the kids (siblings + cousins), I specifically am the one that needs to be a doctor (due to academic ability and the way my brain processes things). So the pressure is for sure there lol.
My issue is that I discovered the forex market a little over a year ago and absolutely fell in love with trading. I've been pretty consistent in learning about the market and practicing for the whole year. I found a good strategy that *actually* works, learned to manage my emotions, and I'm now starting to see overall profits. Obviously I still have a long way to go until I could returns significant enough to provide for a family doing this, but it seems very very lucrative.
If I become a doctor, I'd finish residency about a decade from now. By then, if I had consistently been getting better at trading for a decade, I would be making much more than my salary as a physician. So, I wonder: why would I continue to waste my time practicing medicine? I think I would enjoy practicing medicine, but why would I do it while I could do something I like just as much, and make more money. On top of that, wouldn't that mean the decade in school/residency was a giant waste of time? On the other side of the argument, 95% of retail traders don't make any money, so I assume that thinking I'll be making those significant returns in 10 years may be a long shot.
It's not all about the money though. I genuinely have always seen myself as a doctor. It's almost like a personality trait. I always want to be the one to figure or what's wrong with someone, or be responsible for treating a wound. When the Covid-19 pandemic started getting bad, I felt a very strong urge to be on the front lines helping, regardless of the risk.
I've always thought it would be exciting to actually use the knowledge I learned to diagnose and treat patients. I really really like human science. To the point that I've already made some the connections that'll be taught in medical school, just because of additional research I've done to cure my curiosity. Human science is for sure my thing, so I'd think medicine should be as well.
On top of all this, I am way more inclined to study trading than to study medicine. I've studied forex information for 10-12hrs straight before and not even noticed it was already 4am. In contrast, I have to force myself to open up MCAT books (even though I love science), and detest traditional school/tests. Although, I'm the type of person that can push through and do what needs to be done, whether I like it or not.
(TLDR) In a nutshell, I love both trading and medicine. However, I'm not sure if I could balance the two together through medical school/residency, and then while actually practicing. I also doubt that I will actually continue practicing medicine if I'm making a lot of money trading. Am I being unrealistic?
Sorry this was so long, but I really need some advice/perspective on how I should move forward. Thanks for reading!!!!

FYI: I understand that FX is not at all a get rich quick kind of thing. I'm more than willing to put in the work and I have been for the past year.


Edit: probably should have mentioned that I trade for a prop firm with a scaling plan. So no I don't intend on using my own money to trade for a while lol
submitted by VictoryLane7 to Forex [link] [comments]

Should I become a doc? (sos problems but here for laughs)

I am a premed student that just finished college and is on course to start medical school next fall (2021). I've always been pretty good at school and absolutely love science. My mom is a doctor, and 2 of my siblings are also docs. I'm the youngest. I also have a few cousins that are docs. As you can probably guess, I've been kind of groomed to be a doctor. There's always quite a bit of pressure from my family to become a doctor. However, my parents put me through school with no loans and gave me pocket money so they do have a lot invested in my career choice. Also, nuclear and extended family members have always told me that out of all the kids (siblings + cousins), I specifically am the one that needs to be a doctor (due to academic ability and the way my brain processes things). So the pressure is for sure there lol.
My issue is that I discovered the forex market a little over a year ago and absolutely fell in love with trading. I've been pretty consistent in learning about the market and practicing for the whole year. I found a good strategy that *actually* works, learned to manage my emotions, and I'm now starting to see overall profits. Obviously I still have a long way to go until I could returns significant enough to provide for a family doing this, but it seems very very lucrative.
If I become a doctor, I'd finish residency about a decade from now. By then, if I had consistently been getting better at trading for a decade, I would be making much more than my salary as a physician. So, I wonder: why would I continue to waste my time practicing medicine? I think I would enjoy practicing medicine, but why would I do it while I could do something I like just as much, and make more money. On top of that, wouldn't that mean the decade in school/residency was a giant waste of time? On the other side of the argument, 95% of retail traders don't make any money, so I assume that thinking I'll be making those significant returns in 10 years may be a long shot.
It's not all about the money though. I genuinely have always seen myself as a doctor. It's almost like a personality trait. I always want to be the one to figure or what's wrong with someone, or be responsible for treating a wound. When the Covid-19 pandemic started getting bad, I felt a very strong urge to be on the front lines helping, regardless of the risk.
I've always thought it would be exciting to actually use the knowledge I learned to diagnose and treat patients. I really really like human science. To the point that I've already made some the connections that'll be taught in medical school, just because of additional research I've done to cure my curiosity. Human science is for sure my thing, so I'd think medicine should be as well.
On top of all this, I am way more inclined to study trading than to study medicine. I've studied forex information for 10-12hrs straight before and not even noticed it was already 4am. In contrast, I have to force myself to open up MCAT books (even though I love science), and detest traditional school/tests. Although, I'm the type of person that can push through and do what needs to be done, whether I like it or not.
(TLDR) In a nutshell, I love both trading and medicine. However, I'm not sure if I could balance the two together through medical school/residency, and then while actually practicing. I also doubt that I will actually continue practicing medicine if I'm making a lot of money trading. Am I being unrealistic?
Sorry this was so long, but I really need some advice/perspective on how I should move forward. Thanks for reading!!!!
submitted by VictoryLane7 to shittyadvice [link] [comments]

Should I become a doctor?

I am a premed student that just finished college and is on course to start medical school next fall (2021). I've always been pretty good at school and absolutely love science. My mom is a doctor, and 2 of my siblings are also docs. I'm the youngest. I also have a few cousins that are docs. As you can probably guess, I've been kind of groomed to be a doctor. There's always quite a bit of pressure from my family to become a doctor. However, my parents put me through school with no loans and gave me pocket money so they do have a lot invested in my career choice. Also, nuclear and extended family members have always told me that out of all the kids (siblings + cousins), I specifically am the one that needs to be a doctor (due to academic ability and the way my brain processes things). So the pressure is for sure there lol.
My issue is that I discovered the forex market a little over a year ago and absolutely fell in love with trading. I've been pretty consistent in learning about the market and practicing for the whole year. I found a good strategy that *actually* works, learned to manage my emotions, and I'm now starting to see overall profits. Obviously I still have a long way to go until I could returns significant enough to provide for a family doing this, but it seems very very lucrative.
If I become a doctor, I'd finish residency about a decade from now. By then, if I had consistently been getting better at trading for a decade, I would be making much more than my salary as a physician. So, I wonder: why would I continue to waste my time practicing medicine? I think I would enjoy practicing medicine, but why would I do it while I could do something I like just as much, and make more money. On top of that, wouldn't that mean the decade in school/residency was a giant waste of time? On the other side of the argument, 95% of retail traders don't make any money, so I assume that thinking I'll be making those significant returns in 10 years may be a long shot.
It's not all about the money though. I genuinely have always seen myself as a doctor. It's almost like a personality trait. I always want to be the one to figure or what's wrong with someone, or be responsible for treating a wound. When the Covid-19 pandemic started getting bad, I felt a very strong urge to be on the front lines helping, regardless of the risk.
I've always thought it would be exciting to actually use the knowledge I learned to diagnose and treat patients. I really really like human science. To the point that I've already made some the connections that'll be taught in medical school, just because of additional research I've done to cure my curiosity. Human science is for sure my thing, so I'd think medicine should be as well.
On top of all this, I am way more inclined to study trading than to study medicine. I've studied forex information for 10-12hrs straight before and not even noticed it was already 4am. In contrast, I have to force myself to open up MCAT books (even though I love science), and detest traditional school/tests. Although, I'm the type of person that can push through and do what needs to be done, whether I like it or not.
(TLDR) In a nutshell, I love both trading and medicine. However, I'm not sure if I could balance the two together through medical school/residency, and then while actually practicing. I also doubt that I will actually continue practicing medicine if I'm making a lot of money trading. Am I being unrealistic?
Sorry this was so long, but I really need some advice/perspective on how I should move forward. Thanks for reading!!!!
submitted by VictoryLane7 to careerguidance [link] [comments]

Should I change my career path?

I am a premed student that just finished college and is on course to start medical school next fall (2021). I've always been pretty good at school and absolutely love science. My mom is a doctor, and 2 of my siblings are also docs. I'm the youngest. I also have a few cousins that are docs. As you can probably guess, I've been kind of groomed to be a doctor. There's always quite a bit of pressure from my family to become a doctor. However, my parents put me through school with no loans and gave me pocket money so they do have a lot invested in my career choice. Also, nuclear and extended family members have always told me that out of all the kids (siblings + cousins), I specifically am the one that needs to be a doctor (due to academic ability and the way my brain processes things). So the pressure is for sure there lol.
My issue is that I discovered the forex market a little over a year ago and absolutely fell in love with trading. I've been pretty consistent in learning about the market and practicing for the whole year. I found a good strategy that *actually* works, learned to manage my emotions, and I'm now starting to see overall profits. Obviously I still have a long way to go until I could returns significant enough to provide for a family doing this, but it seems very very lucrative.
If I become a doctor, I'd finish residency about a decade from now. By then, if I had consistently been getting better at trading for a decade, I would be making much more than my salary as a physician. So, I wonder: why would I continue to waste my time practicing medicine? I think I would enjoy practicing medicine, but why would I do it while I could do something I like just as much, and make more money. On top of that, wouldn't that mean the decade in school/residency was a giant waste of time? On the other side of the argument, 95% of retail traders don't make any money, so I assume that thinking I'll be making those significant returns in 10 years may be a long shot.
It's not all about the money though. I genuinely have always seen myself as a doctor. It's almost like a personality trait. I always want to be the one to figure or what's wrong with someone, or be responsible for treating a wound. When the Covid-19 pandemic started getting bad, I felt a very strong urge to be on the front lines helping, regardless of the risk.
I've always thought it would be exciting to actually use the knowledge I learned to diagnose and treat patients. I really really like human science. To the point that I've already made some the connections that'll be taught in medical school, just because of additional research I've done to cure my curiosity. Human science is for sure my thing, so I'd think medicine should be as well.
On top of all this, I am way more inclined to study trading than to study medicine. I've studied forex information for 10-12hrs straight before and not even noticed it was already 4am. In contrast, I have to force myself to open up MCAT books (even though I love science), and detest traditional school/tests. Although, I'm the type of person that can push through and do what needs to be done, whether I like it or not.
(TLDR) In a nutshell, I love both trading and medicine. However, I'm not sure if I could balance the two together through medical school/residency, and then while actually practicing. I also doubt that I will actually continue practicing medicine if I'm making a lot of money trading. Am I being unrealistic?
Sorry this was so long, but I really need some advice/perspective on how I should move forward. Thanks for reading!!!!
submitted by VictoryLane7 to Advice [link] [comments]

Should I quit the medical path?

I am a premed student that just finished college and is on course to start medical school next fall (2021). I've always been pretty good at school and absolutely love science. My mom is a doctor, and 2 of my siblings are also docs. I'm the youngest. I also have a few cousins that are docs. As you can probably guess, I've been kind of groomed to be a doctor. There's always quite a bit of pressure from my family to become a doctor. However, my parents put me through school with no loans and gave me pocket money so they do have a lot invested in my career choice. Also, nuclear and extended family members have always told me that out of all the kids (siblings + cousins), I specifically am the one that needs to be a doctor (due to academic ability and the way my brain processes things). So the pressure is for sure there lol.
My issue is that I discovered the forex market a little over a year ago and absolutely fell in love with trading. I've been pretty consistent in learning about the market and practicing for the whole year. I found a good strategy that *actually* works, learned to manage my emotions, and I'm now starting to see overall profits. Obviously I still have a long way to go until I could returns significant enough to provide for a family doing this, but it seems very very lucrative.
If I become a doctor, I'd finish residency about a decade from now. By then, if I had consistently been getting better at trading for a decade, I would be making much more than my salary as a physician. So, I wonder: why would I continue to waste my time practicing medicine? I think I would enjoy practicing medicine, but why would I do it while I could do something I like just as much, and make more money. On top of that, wouldn't that mean the decade in school/residency was a giant waste of time? On the other side of the argument, 95% of retail traders don't make any money, so I assume that thinking I'll be making those significant returns in 10 years may be a long shot.
It's not all about the money though. I genuinely have always seen myself as a doctor. It's almost like a personality trait. I always want to be the one to figure or what's wrong with someone, or be responsible for treating a wound. When the Covid-19 pandemic started getting bad, I felt a very strong urge to be on the front lines helping, regardless of the risk.
I've always thought it would be exciting to actually use the knowledge I learned to diagnose and treat patients. I really really like human science. To the point that I've already made some the connections that'll be taught in medical school, just because of additional research I've done to cure my curiosity. Human science is for sure my thing, so I'd think medicine should be as well.
On top of all this, I am way more inclined to study trading than to study medicine. I've studied forex information for 10-12hrs straight before and not even noticed it was already 4am. In contrast, I have to force myself to open up MCAT books (even though I love science), and detest traditional school/tests. Although, I'm the type of person that can push through and do what needs to be done, whether I like it or not.
(TLDR) In a nutshell, I love both trading and medicine. However, I'm not sure if I could balance the two together through medical school/residency, and then while actually practicing. I also doubt that I will actually continue practicing medicine if I'm making a lot of money trading. Am I being unrealistic?
Sorry this was so long, but I really need some advice/perspective on how I should move forward. Thanks for reading!!!!
submitted by VictoryLane7 to FinancialCareers [link] [comments]

To be or not to be: A doctor

I am a premed student that just finished college and is on course to start medical school next fall (2021). I've always been pretty good at school and absolutely love science. My mom is a doctor, and 2 of my siblings are also docs. I'm the youngest. I also have a few cousins that are docs. As you can probably guess, I've been kind of groomed to be a doctor. There's always quite a bit of pressure from my family to become a doctor. However, my parents put me through school with no loans and gave me pocket money so they do have a lot invested in my career choice. Also, nuclear and extended family members have always told me that out of all the kids (siblings + cousins), I specifically am the one that needs to be a doctor (due to academic ability and the way my brain processes things). So the pressure is for sure there lol.
My issue is that I discovered the forex market a little over a year ago and absolutely fell in love with trading. I've been pretty consistent in learning about the market and practicing for the whole year. I found a good strategy that *actually* works, learned to manage my emotions, and I'm now starting to see overall profits. Obviously I still have a long way to go until I could returns significant enough to provide for a family doing this, but it seems very very lucrative.
If I become a doctor, I'd finish residency about a decade from now. By then, if I had consistently been getting better at trading for a decade, I would be making much more than my salary as a physician. So, I wonder: why would I continue to waste my time practicing medicine? I think I would enjoy practicing medicine, but why would I do it while I could do something I like just as much, and make more money. On top of that, wouldn't that mean the decade in school/residency was a giant waste of time? On the other side of the argument, 95% of retail traders don't make any money, so I assume that thinking I'll be making those significant returns in 10 years may be a long shot.
It's not all about the money though. I genuinely have always seen myself as a doctor. It's almost like a personality trait. I always want to be the one to figure or what's wrong with someone, or be responsible for treating a wound. When the Covid-19 pandemic started getting bad, I felt a very strong urge to be on the front lines helping, regardless of the risk.
I've always thought it would be exciting to actually use the knowledge I learned to diagnose and treat patients. I really really like human science. To the point that I've already made some the connections that'll be taught in medical school, just because of additional research I've done to cure my curiosity. Human science is for sure my thing, so I'd think medicine should be as well.
On top of all this, I am way more inclined to study trading than to study medicine. I've studied forex information for 10-12hrs straight before and not even noticed it was already 4am. In contrast, I have to force myself to open up MCAT books (even though I love science), and detest traditional school/tests. Although, I'm the type of person that can push through and do what needs to be done, whether I like it or not.
(TLDR) In a nutshell, I love both trading and medicine. However, I'm not sure if I could balance the two together through medical school/residency, and then while actually practicing. I also doubt that I will actually continue practicing medicine if I'm making a lot of money trading. Am I being unrealistic?
Sorry this was so long, but I really need some advice/perspective on how I should move forward. Thanks for reading!!!!
submitted by VictoryLane7 to careerchange [link] [comments]

[LONG] My Story of Disillusionment with and Disappointment in the World and Myself

Intro.
This might be a long one. I hope someone reads the thing, I put like 3 hours into writing it. A brief story of my life and how it all led up to this moment, where I am disillusioned with my self-image, my life choices, and certain aspects of the world, and have no idea what to do next. Warning: this whole thing might be a little depressing to read.
Childhood.
I am a 20yo Russian male. During my childhood, I was made to believe that I am capable of doing something great and doing better than anyone. At the same time I developed a very non-conformist life stance and very often rejected things and ideas simply because they were too popular for my taste, and I couldn't feel special whilst enjoying them. Of course, in turn, society rejected me, as it does with anyone who doesn't play by the rules. Oh well.
My only redeeming quality was that I considered myself pretty smart. Which is even easier to assume, when at the same time you think that you're different from everyone else. Now, I know that to some extent, I was indeed smarter than most people in certain areas. Unlike most people I knew back then, often with bare minimum efforts I was able to maintain near perfect grades at school. I was also enjoying learning new things and reading more than an average person. So, let's just say, I had a basis to assume I was a smart dude.
I wasn't happy and content with my life, though. I never had real friends, because I only hung out with people when they were my classmates/roommates/co-workers, and after we parted ways, I rarely if ever contacted them afterwards. I always enjoyed doing things you usually do in solitude more, because when I was alone, I wouldn't be afraid that someone could hurt me for being different. Because of that, I was never in a romantic relationship.
High School.
Still, life was going okay. By the end of school, I kind of accepted my social deficiency and I wanted to focus on improving the world and become a successful person - for myself. I was facing a dilemma, though. Despite the fact that I was doing great in school, the idea of having to invest four years of my time into studying something really specific, and then having to work another 20-30 years on the same job was terrifying, because I had no idea what I liked to do! Nothing seemed interesting to me, I didn't have a passion for doing anything... Thanks to my video game addiction, which made me lazy as fuck, probably. I also needed to meet my criteria for success with my future job, which included being financially successful. I grew up in top 1% income family, so... I always felt the pressure to outperform or at least match my parents' income.
Enter trading. My dad discovered investing several years ago (we don't live in US, so most of the people aren't as financially savvy, so he never thought about investing before then). I was always curious about financial independence and markets, but now I was seeing it all done in front of me, I realized that it might be a good opportunity to make a lot of money and become successful without being socially adept, which is something absolutely required in business or politics. So, I asked my father to open a brokerage account for me in the US, and started swing trading (trading in weekly/monthly time frames). I could only trade slow and small because of the trade restrictions put on accounts <$25k and <21yo in the US. Still, it was going well, but in hindsight I was just lucky to be there during a great bull market.
Even before I thought trading and more importantly investing were the ways smart people make money. I thought simply because I was conventionally smart, I had a talent or an innate ability to pick innovative stocks and do venture investing when I grow some capital. I truly believed in that long before I was introduced to financial markets, I believed that my surface level understanding of multiple areas of cutting edge and emerging technology would give me an edge compared to all the other investors.
US Community College and Return Back.
In the end, I've decided I want to go to a US community college and study finance and become a trader and later an investor, but I didn't want to work for a fund or something like that (lazy ass). I wanted to use my knowledge and skill and my own money to grow my net worth and make a living. I didn't really like the process of trading, I just needed the money to live by while I was trying to figure out what else to do with my life. Because I thought I were smart, I thought this would come easily to me. Boy was I wrong. From the nicest of conditions in my hometown, I was suddenly moved into a foreign setting, on the other side of the planet away form my family and mates, with a video game addiction and laziness that ruined my daily routine and studying as well. The fact that I didn't like my major was not helping. My grades fell from A- in the first quarter to C+ in the last. I gained +30% from my normal weight. I was stressed out, not going outside and sitting at my computer desk for days at a time, skipping all the classes I could if they were not absolutely essential for my grades, living on prepared foods. I never got out of my shell and barely talked to anyone in English, all of my friends were Russian speaking. I wasted an opportunity to improve my speaking, although aside from that my English skills satisfy me.
By the end of community college, last summer, I was left with B grades that wouldn't let me transfer anywhere decent, and the extreme stress that I put myself through started taking a toll on my mental health. I was planning to take a break and go back to Russia for several months, and transfer back to a US uni this winter. Needless to say, you can't run from yourself. It didn't really become much better after a few months in Russia. I didn't want to study finance anymore, because it was boring and I was exhausted. I still had the video game addiction, still was lazy and gained some more extra pounds of weight. I was not sleeping at all, extremely sleep deprived for months. Because of this and lack of mental stimulation I started to become dumber. And all that was happening where I didn't really have to do anything: not study or work, just sit around the house and do whatever I wanted. Turns out, these conditions didn't help me to get out of the incoming depression.
Finally, around November, when I already sent out all of my transfer applications and already got some positive answers from several universities, I knew I didn't have much time left at home, and I had to leave soon. But I really, really didn't want to go back. It was scarier than the first time. I was afraid of new changes, I just wanted for the time to stop and letting me relax, heal... I was having suicidal thoughts and talked about it with my family and my therapist. They were all supportive and helped me as much as they could. But I was the only person who could really help myself. If I wanted to breathe freely, I had to admit defeat and not go back to the US to continue my education. It was extremely hard at first, but then I just let go. I decided to find a temporary job as an English tutor and give myself time to think. Then I remembered that I had a bunch of money in my trading account. I still thought that I was pretty smart, despite failing college, so I figured, why not try move it to Russian brokers who don't have trading restrictions, and do it full time? Which is exactly what I did. And I started to study trading all by myself at a fast pace. I was now trading full time and it was going sideways: +10% in December, -20% in January. Then, something incredible happened. I was already in a shitty place in life, but I still had some hope for my future. Things were about to get much worse. I'm in the late January, and I discovered for myself that the whole financial industry of the world was a fraud.
Brief Explanation of My Discoveries.
In the image of the financial industry, there are several levels of perceived credibility.
In the bottom tier, there is pure gambling. In my country, there were periods when binary options trading and unreliable Forex brokers were popular among common folk, but these were obvious and unsophisticated fraudsters who were one step away from being prosecuted. There are also cryptocurrencies that don't hold any value and are also used only for speculation/redistribution of wealth. There is also a wonderful gambling subreddit wallstreetbets where most users don't even try to hide the fact that what they are doing is pure gambling. I love it. But the thing is, this is trading/investing for the people who have no idea what it is, and most people discredit it as a fraud, which it, indeed, is. These examples are 99% marketing/public image and 1% finance. But these offer x10-1000 returns in the shortest time span. Typical get-rich-quick schemes, but they attract attention.
Then, there is trading tier. You can have multiple sub levels here, in the bottom of this tier we would probably have complex technical analysis (indicators) and daily trading/scalping. I was doing this in the DecembeJanuary. At the top would be people who do fundamental analysis (study financial reports) and position trade (monthly time frames). Now, there is constant debate in the trading community whether technical analysis or fundamental analysis is better. I have a solid answer to the question. They work in the same way. Or rather, they don't work at all.
You'd ask: "Why you didn't discover this earlier? You were in this financial thing for several years now!" Well, you see, unlike on the previous level, here millions of people say that they actually believe trading works and there is a way to use the available tools to have great returns. Some of these people actually know that trading doesn't work, but they benefit from other traders believing in it, because they can sell them courses or take brokerage fees from them. Still, when there are millions around you telling you that it works, even a non-conformist like me would budge. Not that many people actually participate in the markets, so I thought that by being in this minority made me smart and protected from fraudsters. Lol. All it took for me to discover the truth is to accidentally discover that some technical indicators give random results, do a few google searches, reach some scientific studies which are freely available and prove that technical and fundamental analysis don't work. It was always in front of me, but the fucking trading community plugged my ears and closed my eyes shut so I wasn't able to see it. Trading usually promises 3-15% gain a month.
A huge shock, but surely there was still a way for me to work this out? Active investing it is!
The next level, active investing, is different from trading. You aim for 15-50% yearly returns, but you don't have to do as much work. You hold on to stocks of your choice for years at a time, once in a while you study the markets, re balance your portfolio, etc. Or you invest your money in a fund, that will select the stocks of their choice and manage their and your portfolio for you. For a small fee of course. All of these actions are aimed at trying to outperform the gain the market made as a whole, and so called index funds, which invest in basically everything and follow the market returns - about 7-10% a year. And if I ever had any doubts in trading, I firmly believed that active investing works since I was a little kid (yes I knew about it back then). And this is where the real fraud comes in.
The whole Wall Street and every broker, every stock exchange in the world are a part of a big fraud. Only about 10-20% of professional fund managers outperform the market in any 15 year period. If you take 30 years, this dwindles to almost nothing, which means that no one can predict the markets. These people have no idea what they are doing. Jim Cramer is pure show-business and has no idea what's going on. Warren Buffet gained his fortune with pure luck, and for every Buffet there are some people who made only a million bucks and countless folks who lost everything.
Wall Street. They have trillions of dollars and use all that money and power and marketing to convince you that there is a way to predict where the stocks are going without being a legal insider or somehow abusing the law. They will make you think you can somehow learn from them where to invest your money on your own or they will make you believe that you should just give it to them and they will manage it for you, because they know how everything works and they can predict the future using past data.
They won't. They don't. They can't. There are studies and statistics to prove it countless times over the span of a 100 years. But they will still charge you exchange fees, brokerage fees and management fees anyway. And they also manipulate certain studies, lobby where and when they need it, and spread misinformation on an unprecedented scale, creating a positive image of themselves. And everyone falls for that. Billions of people around the globe still think it's all legit.
Passive index investing is the last level. You just put your money in the market and wait. Markets will go up at a predetermined rate. If there's a crisis, in 10 years no one will even remember. Markets always go up in the end. But passive index investing can only give you only 7% inflation-adjusted returns a year. Not enough to stop working or even retire early, unless you have a high-paying job in a first-world country. I don't.
Despite all that, to put it simply, this is the only type of investing that works and doesn't involve any kind of fraud or gambling. It's the type of investing that will give you the most money. If you want to know why it is like that and how to do it, just go to financialindependence. They know this stuff better than any other sub. Better than investing, trading or any other sub where non-passive-index investing is still discussed as viable strategy.
Back to me.
My whole being was fucked over, my hopes and dreams and understanding of success and how this world works were shattered. I realized, I had no future in financial industry, because only middlemen make money in there, and I quit college needed to get there. Frankly, I wouldn't want to work there even if I had the opportunity. The pay is good, but the job is boring and I wouldn't want to be a part of this giant scheme anyway. But even if I wanted to go back, I also couldn't. Russia is in a worsening crisis and my parents could no longer afford a US university and now with coronavirus it's even worse. Good thing I quit before it all happened. I learned a valuable lesson and didn't lose that much money for it (only about 10% of my savings). God knows where it would lead me if I continued to be delusional. But now that my last temporary plans for the future were scrapped, I had no idea what to do next.
The future.
With the reality hitting me, I would lie if I say it didn't all come full circle and connect to my past. I realized that I was stupid and not intelligent, because I was living in a made-up world for years now. But even if I were intelligent, pure wit would not give me the success and fortune that I was craving, because trading and active investing were a no-go for me, and business/politics require a very different, extroverted mindset, different education and interest from my own. My only redeeming quality in a hopeless introvert world, my perceived intelligence was taken away from me and rendered useless at the same time.
Besides, failing at that one thing made me insecure about everything and now I think of myself as an average individual. So, if 8 out of 10 businesses fail, I shouldn't start one because I will probably fail. And if most politicians don't get anywhere, why should I bother? If average salary in my country is X, I shouldn't hope for more. I stopped believing in my ability to achieve something. First, I failed at education and now I failed... Professionally? I don't know how to describe it, but my life recently was just an emotional roller coaster. I just feel like a very old person and all I want calmness and stability in my life. I was very lazy before just because, but now I feel like I also don't want to do anything because I feel I would just fail. It feels better now I don't have to worry about trading anymore and I got rid of that load... But I am still miserable and perhaps worse than ever, maybe I just don't understand and feel it because I've become slow and numb. The only positive thing that happened to me recently, is that I finally started losing weight and about 1/4 of the way back to my normal weight.
As for my future, am looking at several possibilities here. So far the parents are allowing my miserable life to continue and they let me live with them and buy me food. I don't need anything else right now. But it can't go on like this forever. The thought of having a mundane low-paying job in this shithole of a country depresses me. I will probably temporarily do English tutoring if there's demand for such work. My old school friends want me to help them in their business and my dad wants me to help him in his, I and probably should, but I feel useless, pathetic and incapable of doing anything of value. And business just seems boring, difficult and too stressful for me right now. Just not my cup of tea.
I am also looking at creative work. I love video games, music, films and other forms of art. I love the games most though, so I am looking into game dev. I don't really like programming, I have learned some during school years, but the pay would probably be higher for a programmer than an creator of any kind of art. However, I think I would enjoy art creation much more, but I don't have any experience in drawing and only some limited experience in music production. And I am not one of these kids who always had a scrapbook with them at school. Having to make another life choice paralyzes me. I am leaning towards art. I don't feel confident in my ability to learn this skill from scratch, but I think it's my best shot at finding a job that would make me happy.
So perhaps, when this whole pandemic is over, I'll go to Europe and get my degree, get a job there and stay. American Dream is dead to me, and Europe is cheaper, closer, safe and comfortable. Just the thing for a person who feels like they are thrice their real age.
Outro.
Thanks for coming to my TED Talk. Special thanks if you read the whole thing, it means a whole lot to me, an internet stranger. But even if no one reads it, feels good to get this off my chest. I actually cried during writing some parts. Holy shit, this might be the longest and smartest looking thing my dumbed down head could manage to generate since college. I hope that you're having a great day. Stay healthy and be careful during this fucking pandemic. All the best.
submitted by OberV0lt to TrueOffMyChest [link] [comments]

Should I alter my career path?

I am a premed student that just finished college and is on course to start medical school next fall (2021). I've always been pretty good at school and absolutely love science. My mom is a doctor, and 2 of my siblings are also docs. I'm the youngest. I also have a few cousins that are docs. As you can probably guess, I've been kind of groomed to be a doctor. There's always quite a bit of pressure from my family to become a doctor. However, my parents put me through school with no loans and gave me pocket money so they do have a lot invested in my career choice. Also, nuclear and extended family members have always told me that out of all the kids (siblings + cousins), I specifically am the one that needs to be a doctor (due to academic ability and the way my brain processes things). So the pressure is for sure there lol.
My issue is that I discovered the forex market a little over a year ago and absolutely fell in love with trading. I've been pretty consistent in learning about the market and practicing for the whole year. I found a good strategy that *actually* works, learned to manage my emotions, and I'm now starting to see overall profits. Obviously I still have a long way to go until I could returns significant enough to provide for a family doing this, but it seems very very lucrative.
If I become a doctor, I'd finish residency about a decade from now. By then, if I had consistently been getting better at trading for a decade, I would be making much more than my salary as a physician. So, I wonder: why would I continue to waste my time practicing medicine? I think I would enjoy practicing medicine, but why would I do it while I could do something I like just as much, and make more money. On top of that, wouldn't that mean the decade in school/residency was a giant waste of time? On the other side of the argument, 95% of retail traders don't make any money, so I assume that thinking I'll be making those significant returns in 10 years may be a long shot.
It's not all about the money though. I genuinely have always seen myself as a doctor. It's almost like a personality trait. I always want to be the one to figure or what's wrong with someone, or be responsible for treating a wound. When the Covid-19 pandemic started getting bad, I felt a very strong urge to be on the front lines helping, regardless of the risk.
I've always thought it would be exciting to actually use the knowledge I learned to diagnose and treat patients. I really really like human science. To the point that I've already made some the connections that'll be taught in medical school, just because of additional research I've done to cure my curiosity. Human science is for sure my thing, so I'd think medicine should be as well.
On top of all this, I am way more inclined to study trading than to study medicine. I've studied forex information for 10-12hrs straight before and not even noticed it was already 4am. In contrast, I have to force myself to open up MCAT books (even though I love science), and detest traditional school/tests. Although, I'm the type of person that can push through and do what needs to be done, whether I like it or not.
(TLDR) In a nutshell, I love both trading and medicine. However, I'm not sure if I could balance the two together through medical school/residency, and then while actually practicing. I also doubt that I will actually continue practicing medicine if I'm making a lot of money trading. Am I being unrealistic?
Sorry this was so long, but I really need some advice/perspective on how I should move forward. Thanks for reading!!!!
FYI: I understand that FX is not at all a get rich quick kind of thing. I'm more than willing to put in the work and I have been for the past year. also I trade for a prop firm with a scaling plan. I trader money and get some of the profits. So I wouldn't be using my own money for a while
submitted by VictoryLane7 to careerguidance [link] [comments]

Should I alter my career path?

I am a premed student that just finished college and is on course to start medical school next fall (2021). I've always been pretty good at school and absolutely love science. My mom is a doctor, and 2 of my siblings are also docs. I'm the youngest. I also have a few cousins that are docs. As you can probably guess, I've been kind of groomed to be a doctor. There's always quite a bit of pressure from my family to become a doctor. However, my parents put me through school with no loans and gave me pocket money so they do have a lot invested in my career choice. Also, nuclear and extended family members have always told me that out of all the kids (siblings + cousins), I specifically am the one that needs to be a doctor (due to academic ability and the way my brain processes things). So the pressure is for sure there lol.
My issue is that I discovered the forex market a little over a year ago and absolutely fell in love with trading. I've been pretty consistent in learning about the market and practicing for the whole year. I found a good strategy that *actually* works, learned to manage my emotions, and I'm now starting to see overall profits. Obviously I still have a long way to go until I could returns significant enough to provide for a family doing this, but it seems very very lucrative.
If I become a doctor, I'd finish residency about a decade from now. By then, if I had consistently been getting better at trading for a decade, I would be making much more than my salary as a physician. So, I wonder: why would I continue to waste my time practicing medicine? I think I would enjoy practicing medicine, but why would I do it while I could do something I like just as much, and make more money. On top of that, wouldn't that mean the decade in school/residency was a giant waste of time? On the other side of the argument, 95% of retail traders don't make any money, so I assume that thinking I'll be making those significant returns in 10 years may be a long shot.
It's not all about the money though. I genuinely have always seen myself as a doctor. It's almost like a personality trait. I always want to be the one to figure or what's wrong with someone, or be responsible for treating a wound. When the Covid-19 pandemic started getting bad, I felt a very strong urge to be on the front lines helping, regardless of the risk.
I've always thought it would be exciting to actually use the knowledge I learned to diagnose and treat patients. I really really like human science. To the point that I've already made some the connections that'll be taught in medical school, just because of additional research I've done to cure my curiosity. Human science is for sure my thing, so I'd think medicine should be as well.
On top of all this, I am way more inclined to study trading than to study medicine. I've studied forex information for 10-12hrs straight before and not even noticed it was already 4am. In contrast, I have to force myself to open up MCAT books (even though I love science), and detest traditional school/tests. Although, I'm the type of person that can push through and do what needs to be done, whether I like it or not.
(TLDR) In a nutshell, I love both trading and medicine. However, I'm not sure if I could balance the two together through medical school/residency, and then while actually practicing. I also doubt that I will actually continue practicing medicine if I'm making a lot of money trading. Am I being unrealistic?
Sorry this was so long, but I really need some advice/perspective on how I should move forward. Thanks for reading!!!!
FYI: I understand that FX is not at all a get rich quick kind of thing. I'm more than willing to put in the work and I have been for the past year. also I trade for a prop firm with a scaling plan. I trader money and get some of the profits. So I wouldn't be using my own money for a while
submitted by VictoryLane7 to careerguidance [link] [comments]

Should I alter my career path?

I am a premed student that just finished college and is on course to start medical school next fall (2021). I've always been pretty good at school and absolutely love science. My mom is a doctor, and 2 of my siblings are also docs. I'm the youngest. I also have a few cousins that are docs. As you can probably guess, I've been kind of groomed to be a doctor. There's always quite a bit of pressure from my family to become a doctor. However, my parents put me through school with no loans and gave me pocket money so they do have a lot invested in my career choice. Also, nuclear and extended family members have always told me that out of all the kids (siblings + cousins), I specifically am the one that needs to be a doctor (due to academic ability and the way my brain processes things). So the pressure is for sure there lol.
My issue is that I discovered the forex market a little over a year ago and absolutely fell in love with trading. I've been pretty consistent in learning about the market and practicing for the whole year. I found a good strategy that *actually* works, learned to manage my emotions, and I'm now starting to see overall profits. Obviously I still have a long way to go until I could returns significant enough to provide for a family doing this, but it seems very very lucrative.
If I become a doctor, I'd finish residency about a decade from now. By then, if I had consistently been getting better at trading for a decade, I would be making much more than my salary as a physician. So, I wonder: why would I continue to waste my time practicing medicine? I think I would enjoy practicing medicine, but why would I do it while I could do something I like just as much, and make more money. On top of that, wouldn't that mean the decade in school/residency was a giant waste of time? On the other side of the argument, 95% of retail traders don't make any money, so I assume that thinking I'll be making those significant returns in 10 years may be a long shot.
It's not all about the money though. I genuinely have always seen myself as a doctor. It's almost like a personality trait. I always want to be the one to figure or what's wrong with someone, or be responsible for treating a wound. When the Covid-19 pandemic started getting bad, I felt a very strong urge to be on the front lines helping, regardless of the risk.
I've always thought it would be exciting to actually use the knowledge I learned to diagnose and treat patients. I really really like human science. To the point that I've already made some the connections that'll be taught in medical school, just because of additional research I've done to cure my curiosity. Human science is for sure my thing, so I'd think medicine should be as well.
On top of all this, I am way more inclined to study trading than to study medicine. I've studied forex information for 10-12hrs straight before and not even noticed it was already 4am. In contrast, I have to force myself to open up MCAT books (even though I love science), and detest traditional school/tests. Although, I'm the type of person that can push through and do what needs to be done, whether I like it or not.
(TLDR) In a nutshell, I love both trading and medicine. However, I'm not sure if I could balance the two together through medical school/residency, and then while actually practicing. I also doubt that I will actually continue practicing medicine if I'm making a lot of money trading. Am I being unrealistic?
Sorry this was so long, but I really need some advice/perspective on how I should move forward. Thanks for reading!!!!
FYI: I understand that FX is not at all a get rich quick kind of thing. I'm more than willing to put in the work and I have been for the past year. also I trade for a prop firm with a scaling plan. I trader money and get some of the profits. So I wouldn't be using my own money for a while
submitted by VictoryLane7 to careerguidance [link] [comments]

Understand The Key Differences Between Forex Trades And Online Business

If you have been ruined or your own business or factory is a wreck now you have to know about Forex Factory which comprises Forex online trades. It is your chance to complete all the problems you have got, it is your way to bring home bacon, it is your path to make up your job and deal with money, it is your aim to get what you want – luxury apartments, sport car or something you want, it is your sort of business if you are in luck. You have to know some differences between Forex online trades and other online business kinds. Today you will be provided with ones and in addition you will see why you have to set up your Forex account and why you have to know what Forex trial and real accounts are.
1) Forex online is not like other online business or just another factory, and you have to realize it since the first day you are with Forex trades. Forex is your way to deal with money – yes, this is the truth. You see there is too much gossips around Forex trades. There are many swindlers who want to learn your out and at the same time to make you stand outside. You have to be careful anytime – if you are with Forex trades or you are with other types of Trades. What is Forex and why you have to set up it?
2) Forex online as a market was build as the firm foundation of financial systems an trades. You may be know that Forex trades became popular some years ago. To get the motivation and aim why you have to deal with Forex online trades look for the data in the world wide web. You have to look for people who have gathered millions with the help of trades, you also have to look for the ones who have lost all the money they had got. Why should you? You will get good and bad experience and you will be experienced with the Forex trades – at once when you are just a beginner.
3) Do not think there are just your enemies in the Forex trades. You are able to deal with your partners, if you are easygoing – you will be able to make even friends. You have to know Forex online is full of people and communities which are able to help you, to give you a real advice in case you need it. There is much to be said for Forex trades but we can not tell you everything -from A to Z just in one article.
If you want to be sure you are in luck, if you want to gather more that your salary just now – click this link to get blogs, spots and what you want to know better about Forex trades!
If you have been ruined or your own business or factory is a wreck now you have to know about Forex Factory which comprises Forex online trades. It is your chance to complete all the problems you have got, it is your way to bring home bacon, it is your path to make up your job and deal with money, it is your aim to get what you want – luxury apartments, sport car or something you want, it is your sort of business if you are in luck. You have to know some differences between Forex online trades and other online business kinds. Today you will be provided with ones and in addition you will see why you have to set up your Forex account and why you have to know what Forex trial and real accounts are.
1) Forex online is not like other online business or just another factory, and you have to realize it since the first day you are with Forex trades. Forex is your way to deal with money – yes, this is the truth. You see there is too much gossips around Forex trades. There are many swindlers who want to learn your out and at the same time to make you stand outside. You have to be careful anytime – if you are with Forex trades or you are with other types of Trades. What is Forex and why you have to set up it?
2) Forex online as a market was build as the firm foundation of financial systems an trades. You may be know that Forex trades became peopular some years ago. To get the motivation and aim why you have to deal with Forex online trades look for the data in the world wide web. You have to look for people who have gathered millions with the help of trades, you also have to look for the ones who have lost all the money they had got. Why should you? You will get good and bad experience and you will be experienced with the Forex trades – at once when you are just a beginner.
3) Do not think there are just your enemies in the Forex trades. You are able to deal with your partners, if you are easygoing – you will be able to make even friends. You have to know Forex online is full of people and communities which are able to help you, to give you a real advice in case you need it. There is much to be said for Forex trades but we can not tell you everything -from A to Z just in one article.
If you want to be sure you are in luck, if you want to gather more that your salary just now – click this link to get blogs, spots and what you want to know better about Forex trades!
If you are looking for productive forex trader – please make sure to read the review of the activity of this profitable forex trader, before buying any.
It is obligatory to read reviews before you invest money into the activity of forex trader. This is important, don’t forget that we are living in the world where info makes life easier.
Due to this if you are properly armed with the knowledge in your topic you can be sure that you will always find the way out from any bad situation. So, please make sure to track this web site on a regular basis or – best of all – sign up to its RSS. In such an easy way you will have a direct shortcut to the latest info updates here. Blogging can be helpful, you just need to know how to use blogging for the currency exchange market.
submitted by koxabe to forex_trade [link] [comments]

Prop Trading

Directed here from Forex
I’m in the process of applying for internships at prop firms and have received invitations to online and first round interviews. I'm relatively new to the trading world and given the nature of the industry, there’s very little information online.
My question is: what makes a top tier firm better than a mid tier firm?
Hypothetically, let’s use Belvedere (mid) and Jump (top) as our two examples. Other than an increase in the base salary with Jump, isn’t the compensation structure still the same? Won’t you be receiving the same bonus amount if your performance is the same at both locations? Do traders at "better" firms trade with more capital? I’m aware that the level of mentors/coaches is higher at Jump but there are very skilled traders at Belvedere as well. What other factors make Jump such a prestigious prop shop?
Hope my question(s) makes sense. I can clarify further if needed. Any and all help would be appreciated.
Edit: Also, because everyone likes a little insight into the poster’s history, I go to a top target school in the Midwest pursuing a business major. GPA is ehhh but my school has a strong enough alumni connection to get me past the resume screening process. Jump is unattainable but its prestigious status interests me immensely.
submitted by denvergee to FinancialCareers [link] [comments]

What kind of Return to expect from Forex Trading?

What kind of Return to expect from Forex Trading?

https://preview.redd.it/el8n63hlify31.png?width=560&format=png&auto=webp&s=28b904255cbd3e08b39e092e78bf231f2acbcc26
  • Various people like trading foreign currencies on the forex market as it entails the minimum amount of investment to get started in day trading. Forex trades deals a lot of revenue possible due to the influence delivered by forex traders. Forex trading can be tremendously unpredictable and an inexpert trader can lose considerable amount of money.
  • Your rate of win signifies the figure of trades you win out a specified overall number of trades. Say you win 5 out of 10 trades, your win rate is 50%. While it is not necessarily required, devising a win rate above 50 percent is perfect for most day traders, and 50-56% percent is satisfactory and possible.
  • This modest strategy to control risk specifies that with a 50-55% win rate, and having more wins rate losses i.e. higher win-rate, it's likely to achieve earnings around 25% per month with forex trading. Utmost traders should not even assume to make this much as it is actually very difficult in reality.
  • Traders who work for economic organizations or traders purchase and sell stocks on behalf of their business's customers, and not with their personal cash. This means that rather than making a revenue or a loss on the exchange itself, they make an income as a trader. In this circumstance, the broker takes practically no risk in the market, it is on the client buying or selling monetary tools to lessen the risk. The dealer's clients may be something from individuals to corporations that do not have a forex exchange department of their own. So in that way you will be earning a salary rather than profit or loss.
  • Established yourself a convincing and measurable goal. Like earning 40-50% win rate not 80-90%. Whatsoever you decide, your objective should also be easy to achieve. What is also significant is to set an aim that can be attained over a long time frame, it is suggested to set a yearly goal to attain rather than a once-a-month goal.
submitted by Andrew-Mark to u/Andrew-Mark [link] [comments]

I wanna become Analyst, Trader for a firm in Canada, ( professional self taught trader)

I’m looking to become a trader for any firm anywhere within Canada. I have experience and capable of analyzing ANY Stock, Forex pair at any given time with 90%+++ my prediction will be correct!!
I’m day trading and making comfortable living making over ~$500++ daily in a matter of 2-3 hours.
I’m 20 years old, & looking to get in the field where I can utilize my knowledge and skills in a trading firm in Canada.
I’m open to any suggestions and ideas; Salary doesn’t matter to me, even if it’s unpaid position. I’d like to experience and build a stronger knowledge in this field, I’m currently engineering student & FREEE all su summer, if you have any recommendations please let me know.
Internships Careers etc :)
Than
submitted by mxorep to Forex [link] [comments]

Former school friend asked me out for an "entrepreneur" meeting. This is what happened.

Hey there!
First of all, I'm a French dude, currently working in software/R&D computer engineering, and living in Paris. (24yo, obligatory excuse for lack of good grammar in this post.)
So basically, I hadn't much planned for my easter weekend. Just wanted to sit back and relax. Out of nowhere, a friend from school (preparatory class for engineering school, it's a very baguette thing) told me that she wanted to meet in Paris this Sunday.
I was excited, cause I remembered her to be a close friend from that period of my life, and so I said yes. She told me "well we could go for a drink, but first I have this conference about investors and entrepreneurs, if you want to join, it's free" so I agreed to meet her there.
I know this kind of thing might already sound fishy to a lot of you, but in France those kinds of meeting are common (especially in Paris.). Coming from my field of study, I know a lot of freelance and entrepreneurs (REAL ones) in the tech field, and I wanted to know more about it. Little did I know I was going to a meeting for an MLM called Kuvera, working with another company called Pro Network Vision.
So the conference started, and a well dressed man went on stage and started talking about how he made five figure salaries each month. He introduced the company as an "online trading school" that, as a service, gave lessons to aspiring traders and helped them into the (very risky) business of online trading. At first, it honestly seemed to me like a good idea, not unlike Udemy for example. However...
Then the second part of the conference started, with another speaker who talked about the "completely optional" other way to get money, that was Relational marketing. And there the alarm bells started ringing in my head.
To contextualise further, MLM are, I feel, not that common in France. However, I am an avid watcher of John Oliver so I saw his piece about MLM, and I was lucky that I had this information.
The speaker started to call other people on stage, from each of the recruitment tiers, that talked about how the company had changed their lives, telling sob stories about themselves to get some claps and some standing ovations, and most of the people there were cheering, looking very satisfied. I felt like I was in a cult church.
At the end of the conference, I talked with one of the speakers (who was a friend of the girl who brought me there) and he started to very aggressively offer to sponsor me. I made up an excuse on the spot and ran away home, to research further.
So there I learned, what I thought was a good idea, to sell finance lessons for a very low price to wannabe traders, is illegal : https://www.financemagnates.com/forex/regulation/frances-amf-blacklists-investviews-subsidiary-kuvera/ Then I learned Kuvera Rose from the ashes of another company, which tanked hard apparently two times (didn't manage to find the name, Google-Fu isn't strong for me today).
So basically... My friend didn't want to see me again just because she appreciated me or who I had become, but to rope me in a weird job that definitely wasn't a pyramid scheme. And she repeatedly told me she wouldn't join that kind of thing if it wasn't legit.
That hurts a bit, personally and because they almost got me. I felt out of the loop in this room, but luckily thanks to my prior knowledge I managed to get back on the right track.
Don't join that shit. However easy it might sound, if you know in your heart it never is this easy, it's probably a scam.
Would love to hear about other people who were confronted to that kind of thing.
submitted by Sayuko01 to antiMLM [link] [comments]

How many profitable trading account months (on average) before you would suggest someone start trading with real money? And what's a good amount of real money to trade with for my purposes?

I'm ending my first month of trading a Forex practice account up 1.5%. I'm pretty pleased with this outcome since my goal is to one day turn this into a job and not to get a crazy high rate of return or expect to get rich quick. My system and approach right now seems to be best described as "trend trading". It's mostly based off of "Naked Forex" (the book) and ForexSignals TV (a YouTube channel) but I've used a variety of other sources' advice as well. I also read the news quite a bit, usually for a few hours a day.
My long term goal is to get a stable rate of return with a practice account and then move on to a significant but not huge amount of money, perhaps try to get sponsored or otherwise take the appropriate series exams (I had an offer to get paid to study and take the Series 63 at one point in time but since I had no actual trading experience, I passed it up for other opportunities), then if my practice account months go well I would start trading with a significant amount of real money while ideally not risking my savings. Finally, if I can turn a stable profit for X time on that I would start looking for a job or internships, perhaps go back to the guys who made me that offer some time ago by now.
Unfortunately my educational background has no economics study at all, even though it was good enough that I had that offer to get paid a modest salary to study for the Series 63 and try my hand at a brokerage job, although that specific job offer was more of a personal relations thing and not as a trader myself.
So to recap, here's my questions:
(1) How many months would you imagine is appropriate with a practice account before moving on to real money?
(2) If your goal was to get a job in a bank or a similar institution, what's the minimum amount of real money you would like to see in a real account before you would treat someone with no economics educational background as a serious candidate for such a job?
Thank you for your replies!
submitted by Spark-001 to Forex [link] [comments]

What do you think is the biggest misconception about forex trading?

Discuss
submitted by pacificwhale to Forex [link] [comments]

Day Trading Jobs With Proprietary Trading Firms

fintech #trading #algotrading #quantitative #quant #quants #hft ##markets #hedgefunds #fx #forex

Day Trading Jobs With Proprietary Trading FirmsDay trading firms offer traders an opportunity to trade with a pool of capital rather than their own money in an arrangement from which all parties benefit.Many proprietary (i.e., prop) trading firms set up a structure that allows the trader to receive a cut of the profits they generate through trades. This arrangement used by prop trading firms has the potential to be lucrative, but there are steep challenges that can make it difficult to generate those profits. Being a Proprietary Day Trader A prop day trader typically works as a contractor to a prop trading firm rather than as an employee. Prop traders are not usually paid an hourly wage or salary and do not receive benefits such as health care. They are typically only paid when they generate a profit, which can take months.Prop traders work with stocks, currencies, options, or futures on major global exchanges, with the express purpose of producing a profit through their trades. A prop..... Continue reading at: https://www.thebalance.com/day-trading-jobs-working-at-a-proprietary-trading-firm-1031233
submitted by silahian to quant_hft [link] [comments]

MT7: ONE STOP SHOP TO ADDRESSING CRITICAL EXCHANGE CHALLENGES

Digital forms of money have their expectations significantly dependent on trades. Following the quest for continued existence, there is a constant need for them to be continuously traded and exchanging them is a better approach to attain this. In any case, current trade exchanges have not been that efficient and satisfactory, hence the conceptualization of the revolutionary masternet to nip the problem in the bud. However, to add more impetus to the work of masternet, the developers made another huge contribution to the crypto circle. With its fresh out of the box new crypto exchange recently made public to further address these gluts of challenges, and to say the least, it had actually offered confidence to its quest for a better crypto exchange. Basically, MT7 is the trade set up by Masternet to gauge exchanges. It is of critical significance to the crypto world; Masternet Trading 7 (MT7) stage is a better variation to what was had on MT6 and is here to offer that gap that has been missing.
MASTERNET'S ROLE In the light of irregularities on well-known exchange infrastructures, Masternet took a crucial decision to make its voice heard. It had discharged Akasic Global that had in stock, some of the most intriguing and value-laded fundamental apparatus that made crypto exchanges conceivable. Basically, the developers just presented an exchanging framework that will on no small measure incorporate better features recorded on Akasic Global. The last guaranteed to have bots for robotized exchanges and other stunning highlights, for example, DApps and commercial center but the question is will MT7 breath life into these? WHAT IS MT7? This isn't the standard exchanging stage, however, is one that will change the substance of digital currencies that are being traded on various exchanges. To this end, what we have here is an advanced one that will lay belief to dealers' infrastructure and have them acquire gainfully.
It is at the top of the priority list to add more impetus for merchants by upgrading their experiences. In the first place, there are solid moves to enhance benefits as it is dynamically developed. Then again, you get the chance to appreciate the advantages that accompany computerized exchanges.
PHENOMENAL EXCHANGE PLATFORM
Trusted experts in the exchange ecosystem is optimistic that this will change the course of history. Indeed, even on fiat cash trades (FOREX), executing from the dreamland had not been conceivable. In any case, this has been had been made possible via the instrumentality of this platform. Among its various standing, MT7 ensures that requests can be set physically. In the event that you in anyway need to keep away from the hitches that accompany this, there is a second alternative – robotization. The thought is that exchanges can take a shot at autopilot if the necessary and important setups have been made.
To this end, there are two varieties to executing on the trade – manual and automatic. For the previous, a merchant needs to make orders for each exchange session. The last mentioned (programmed) stipulates that exchanges can be continued after the programmed mode had been turned on. In the light of this, you can set up the component and keeping in mind that you're sleeping away endlessly, your exchanges will be coordinated and benefits collected to that impact. There is likewise an exchanging bot that matches exchanges and furthermore helps in gaining benefits. You can set this up to profit by week after week reward dispensed to dealers.
IMPROVED UX Clients have not been really satisfied with what they got from past trades. For example, a portion of these have interfaces that leave dealers scratching their heads to appreciate what is before their screens. To this end, MT7 has in stock, an easy to use interface that can be gotten to on the web and portable platforms. The suggestion is that there are portable applications for this trade the same way Binance has in stock.
QUICKER TRADERS Crypto dealers are not on trades to keep a tab on the red light until the point that it turns green. There are constantly bullish minutes when a crypto coin will, in general, do well and it is at such occasions that brokers will in general win more. On MT7, you have a boundless stream of salary whether the market standing is great or not. To this end, brokers that may be intrigued to make use of the platform are guaranteed boundless benefit for each exchange. So also, fair exchanges are encouraged inside 5 seconds similarly as withdraw and deposit services are directed progressively and in actual-time. At last, there is throughout the day an online help infrastructure to take care of inquiries relating to utilizing the trade exchanges.
PAYMENTS: Various doors have been contracted to deal with record subsidizing of each broker. Profit can likewise be pulled back through bolstered payment channels. REWARD
MECHANISM To keep clients steadfast, MT7 has put in place a reward framework that sees to even dissemination of benefits among merchants in the same cycle. This means exchanges will be sorted into cycles and brokers that partake here will share gathered benefit among themselves. Interestingly, the number of people included will be lessened; making it conceivable to gain more.
IB REWARD The primary reward system is the IB Rewards. The thought behind this is clients are relied upon to buy 1000 PINS each week. This is additionally gathered into levels that stipulate gaining rewards from referred merchants.
For each dealer you allude to the trade, you get 0.2% of the IB Reward comparable. With this, groups can be figured and the main merchant that welcomed others will in general gain from them for being referred.
MAIN CONCERN MT7 is maybe the most reasonable an significant trade exchange platform on the globe that has put on place a value proposition for its client’s advancement. By all standard, the MT7 platform is the exchanging infrastructure leveraging on the blockchain technology to bring the cryptocurrencies needs to fore for better efficiency, transparency and critical solutions to exchanges.
For more insight and further enquiries, please click on the following links;
Masternet website : https://masternet.io/
Akasic Website: https://akasic.network/
MT7 Information: https://medium.com/@masternet.io/mt7-trading-platform-explore-the-era-of-progressive-trading-3e1bd178fab4
Author's Bitcointalk Username: Jannyh Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1883625
submitted by janny4d to IcoInvestor [link] [comments]

Forex For Newbies - Use Forex Robots to Your Advantage

Automated Forex software levels this playing field, giving you the equivalent of an experienced trader living on your hard drive. Thousands of people have already joined this revolution, using these advanced programs to make money in the Forex market without lifting a finger.

Certainly some black magic must be involved? Not at all. These programs are automatic trading systems using Metatrader 4's online trading platform: all you need is an account with an online broker that supports MT4, install the program, and you're ready to make some money.

Why should you join this revolution, you ask? Listing all the reasons would take a book, but here are five salient ones: Forex software doesn't sleep. A 24-hour schedule with no time for rest would drive a human being mad, but for a computer program, it's no trouble at all. They can literally make money for you while you sleep, while you buy groceries, while you go to work...and so on, and so forth.

Forex software doesn't take a salary. Apart from the obvious infrastructure fees - i.e., power and Internet - a Forex program will never ask to be paid, never ask for sick leave, never demand a bonus, never threaten to quit, never complain of being overworked...just think of it as the perfect employee.

https://binarytradingfactory.com/bitcoin-revolution-review/
https://diet4today.com/outback-pain-relief-review/
submitted by reginawilliam to u/reginawilliam [link] [comments]

Forex Trading Student Makes Monthly Salary in One Day- $5,000 Profit South Africa Millionaires Makes R1 000 000 p/m ( link in description for info) What Do Investment Bank Traders Really Get Paid? IS FOREX TRADING A SCAM? Top African Forex Traders Lifestyle: Jason Noah, part 1

The average Foreign Exchange Trader I salary in the United States is $76,330 as of June 28, 2020, but the range typically falls between $41,979 and $97,797. Salary ranges can vary widely depending on many important factors, including education , certifications, additional skills, the number of years you have spent in your profession. The Foreign Exchange Trader III role earned an average salary of $193,068 in New York in 2020. Get a salary report by industry, company size, and skills. As of Jun 30, 2020, the average annual pay for a Forex Trader in the United States is $81,910 a year. While ZipRecruiter is seeing annual salaries as high as $154,500 and as low as $11,500, the majority of Forex Trader salaries currently range between $32,500 (25th percentile) to $100,000 (75th percentile) across the United States. I trade forex but i don’t share my approach and trading skills with others. Forex trader do not get a salary unless you are employed by a Forex company or a bank. You have your ups and down. You have your good and bad days. Good forex companies ar... prop trading, trader salaries, trading salaries Steve W. Since 2008, ParaCurve (formerly NBT) has been a provider of a wide range of articles geared towards a common sense approach to trading using fundamental market analysis in conjunction with globally identifiable technical levels.

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Forex Trading Student Makes Monthly Salary in One Day- $5,000 Profit

Over 5,000 subscribers! Come and join the Thank-You Ichimoku livestream! / 1 May, 2020 Japanese Forex Trader Kei 120 watching Live now Top 5 Forex trading millionaires in South Africa 2020 - Duration: 6:03. Rainbow Nation 173,687 views. 6:03. REF WAYNE buys BMW M4 Cash - Duration: 29:42. CIVIC FM 179,234 views. Life Of A Forex Trader: Chrome Cars Edition Top Trader South Africa - Duration: 1:45. Top Trader South Africa 7,027 views. 1:45. Using VIP Forex Signals Is The Fastest Way To Make Big Profits Through Forex. Trade Forex As A Beginner By Copying Successful Traders Copy All Our Live Trades Daily. ... Software Engineer Salaries ... Hi My name is Artin Behdad and I'm trading Forex market since 2010. For the last couple of years I have trained many Forex students and help them to become s...