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UvaKail123

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Everything posted by UvaKail123

  1. Yeah, big speculators got net long AUD on the COT for the first time since 2018 last week. This thing may have some juice.
  2. True, they would rather you put your money with them so they can put you in passive investments and charge you a fee every quarter to do nothing. That's why retail brokers are shrinking in the US. Plus the government thinks they need to protect you from yourself. Either way you need enough capital to make it in trading otherwise you'll constantly be playing the lottery and we know how that usually turns out.
  3. I think 50 to 1 in Forex is more than enough. 2 to 1 in stocks is even enough since they move way more than currencies. Options definitely help give you leverage and help with risk. Options aren't that complicated in my opinion. All you need to know how to do is basic strategies like calls, puts, covered calls and call/put vertical spreads. I don't mess with anything else. The hardest part is timing your trades and buying the right expiration date. In the US I don't think you can do much unless you have at least 10k in a stock account. That will let you run a few stock positions and allow you to have some options plays on too. Forex you can go much smaller. You just have to be realistic about what kind of returns you can expect.
  4. Yeah, we're not allowed to have overseas accounts. Most regulated reputable brokers won't take US clients. There are scam brokers based out of places like the Grenadines, Bahamas, Marshall Islands that will happily take your money and give you 1000 to 1 leverage. They'll even let you fund via credit card. Good look getting a payout if you win big! The only reason I'd want an account in the UK as a US person would be so that I could trade stock CFDs. Otherwise why do you want one?
  5. If you know what you are doing and have capital it's not pointless. You get 50 to 1 leverage in the US, and you can place directional trades long or short on pairs.
  6. I've been trading for 10 years and I've never met a day trader that's consistently profitable or lives off his trading. You'll see a lot of guys who have a hot streak then mysteriously vanish. I've had hot streaks myself but they don't last. Then you have all the wonderful youtube scammers who come and go. They'll go on a hot streak posting videos then vanish for 6 months then resurface to find fresh suckers. They are all fake. Once you figure out what you're doing you have no desire to make youtube videos or share your success. Trading on technicals alone doesn't work. You'll enter a trade because of a chart pattern then it'll go against you and you won't even know why you are in it. You'll become afraid, emotional and frustrated. You'll never have any confidence behind what you are doing and if you only focus on one instrument you'll lose sight of what's going on in the entire market. Market conditions are very important. Focusing on only 1-2 instruments is a huge mistake too because that instrument might not move much for 6 months or even years. Fundamentals tell you where you need to be in the market. Stocks, forex, commodities, ect... That's just scratching the surface. You mentioned Anton's class and I have taken all three of them. I actually think they are really good but it's just a start. There are a lot of things left out of it that you have to find a way to learn yourself. It's not easy but at least he gives you a process. I've also read a lot of reviews and seen youtube videos done by people who have never even taken the class. It's really hard to get good information out there. I also like Gregoire Dupont's class as well. He's similar to Anton but goes much more into detail. It all takes time. Not months, but years. It's a profession like being a doctor or a lawyer. There's no way to make quick money in a profession. You'll just get destroyed. There are ways to cut down your learning curve but you have to find out how to do that yourself and take chances.
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