Learn to chart start wit tradingviewWe are listening sxb, drop the tips
Profitable Saturday trading
- Thread starter Bohol
- Start date
Samaalic Era
QurboExit
What's the lowest amount I can test and learn with sxb?
Samaalic Era
QurboExit
And how safe is it aswell, also the money you make is Halal right?
what do you trade bro, this doesn't look forex, is it spread betting or CFDs (last both haram by the way)
i am forex trader, trained in my early days, talk to me man,
weekends are usually very quite or all markets are closed except for forex
what is your R Profit and R loss ratio?
is it forex?
what currency pairs do you do?
what is your margin leverage ?
what hourly window do you use? 1 hour, 2 hours, 4 hours?
my and my brother use Quants software to trade now, even the small boys are now using quants as its much faster and less mistakes,
we trade on when big data is being released,
With trading you also lose money sometimes.
You can't take wins as permanent, unless you never trade again.
I have lost over $1,000 in a single day at times.
But also had $5,000 winning days.
set a rule on how many % you are willing to lose, and never ever change it, dont get greedy,
we do not trade crypto, we trade forex,
this is our ratio, loss 1%, profit 2%
so worst case in a single trade we lose 1% and best case we gain 2%
and we aim to ideally 60/40 meaning on 60% of all trades we aim to take a profit, our break even is less than that but this is our trading rule,
you must have a rule, stick to it and dont get to greedy, most traders lose money because they dont have risk control
we have gotten to the point where me and my brother are rejecting people asking us to invest their money for them, on very good days we can do 90% profit take, 105 loss,
also do a set number of trades per day, make it consistent and never eat the profit for the first 6 months,
crypto is too volatile , only trade the big 8 currency pairs as they are far more stable than the exotic ones,
Samaalic Era
QurboExit
What's your advice for beginner on forex sxb?
All i see here is bragging and no advice being shared.
Yall are some greedy yahuud.
ok, anything they speak about is haraam,
sprea dbetting is haraam, so is trading E-minis, s&p 500, so is CFDs, cntract for diffreences,
what makes it haraam you ask?
1) you are not allowed to mix a loan with sale - so when they get leverage to buy an asset they are getting a loan with sale, example the broker gives you leverage of 10 to 1 loan, for yuor 1000 yuo get 10,000 to buy an asset, in islam yuo are not allowed to mix a loan with a sale
2) the loan comes with interest specially spread betting and CFDs,
3) you are Not allowed to sell something you dont own in Islam, these guys dont just go long (buy it then sell it for higher price, ) they also go short, they sell it, how can you do that? the broker buys it then he lends them the asset to sell, this is short selling, naked short selling is even worse, its selling it when you dont own it, i dont want to bore yuo with the details but when ever a market crush happens EU and US govs always ban naked short selling,
3) forex is grey area, since you are simultaneously buying and selling two different assets, its kind allowed if you are trading with 1005 of your own money, so if one lot is 100k and you buy it or a mini lot for 10,0004 with 100% of your money, you are not doing it wrong,
now the brokers will offer you a leverage but its usually interest free as long as you are out of your position before 10 PM, if after 10PM they will charge you riba,
most people do not know this,
trading forex is one thing, but trading derivatives, E-mini 500, ETF, stocks, is very haraam, one you dont own the asset, 2 you are charged riba for leverage and 3 you are gambling, phantom asset, not real as you are trading derivative
i have seen somalis do spread betting and CFDs and have no idea what they are doing,
lucky for yall Teeri is not just an economist but also versed in islamic economics,
many muslims trade this and they dont have a clue, most dont even know short selling is haraam and on top they pay riba to do it (since in order to short sell the broker needs to buy the asset and lend it to you in interest)
and mixing a sale and a leverage (loan) in the same transaction is haraam,
on top of this, buying shares of companies that do haraam like banks, alcohol is haraam but also firms financed by loans with riba and since every company on the stock market is financed by loans with riba, (find me a company that has no loan and I will eat my socks) is haraam
firstly about from deen since forex is grey area, its not pure haraam like spread betting, CFDs, etc, it depends how you finance it
1) learn economics, you need to learn what is money and monetary policy or you will be like a guy driving a car who doesn't understand the road signs,
you dont need geeky econ like me but it helps, using simple economic theorems i can predict where the currency will in the next few days/weeks, a trend, appreciating, depreciating,
2) learn charts, forex is impacted by 3 things, charts, economics and psychology,
if you are trading in hours only then charts and group thing matters, if longer then economic fundamentals matter,
central banks manipulate the forex market so do the big boys, learn it, learn more economics then them and you can predict all their moves, big boys rig the market t make money, not to screw you over, but to make money, central banks do it to appease their political masters,
economics is like gravity, its reality, it cannot be faked or ignored and it shapes governments regardless of if they like it or not, so take advantage of their greed, they always always screw up, short term political gain and economic reality will slap them in the market,
central bakers are clueless, the average economist today is a mathematicians, not a real economist like they were 70 years ago, take advantage, they act like know it all but do not even know what is money, where does it come from, what gives it value,
i can trade on pure economics 101 and stay profitable, focus on central bank policy and balance sheet, fancy way of saying how much they print, and trust me they will print like there is no tomorrow,
read old classic economic books from 100, 200 , even 500 years ago,
rad Murray Rothbard, Ludvig von mises, hayek, bastiate, JB Say, Menger,
the older the economic book you read the Better you will under stand the markets and real world economics, not the fake ones they bamboozle you with, the new ones are designed to make you ignorant and conform to what the state what you to learn,
most use charts and avoid economics as they do not understand, but better to know the rules
Samaalic Era
QurboExit
Thanks for the advice sxb
ussuing pure economcis and read Benjamin powells article of somali currency, one of the best economist in the world when it comes to somali economics,
i too $700 in kismayo few years ago and turned it into $1050, 350 profit in a few days as i simply looked at marginal utility of money,
very old Richard cantillon theorem about money, and ludvig von mises The Theory of credit and money, 1912, Vienna, Austrian economist, the first human to explain on earth how all booms-and bust are caused by central bank riba policy,
To see anything value 100$ sometimes I Could turn 40-50$ to 2-300$.
You could put in as low as 1$ but 10%,15%,20% of a dollar is worthless the higher the risk the higher the reward.
Depends what your trading crypto,traditional stock, etc
Traditional stocks on company is the safest but has low ceiling/reward
Crypto has 2 version traditional trading and shorting/longing.
Shorting/longing is the most dangerous is close to gambling.
Company stocks you just buy shares and wait for it to go up it may take months/years
Crypto is the same but instead of months to see profits it takes minutes/hours but traditional company stocks don't dip 20-70% at once this is what makes crypto more dangerous.
If you wanna get into crypto buy after a dip but make sure is not falling knife
Same is true for company shares study the company/coin
The safest coin is bitcoin.
Apollo
VIP
@Bohol
The crypto community seems to be all over Chainlink. Did you look into it? I think during the next bull market that one may act like Ethereum did last cycle (massive gains).
It's the only 'Alt' (or one of the few) that didn't crash completely over 2018's bear market and still looks healthy.
The crypto community seems to be all over Chainlink. Did you look into it? I think during the next bull market that one may act like Ethereum did last cycle (massive gains).
It's the only 'Alt' (or one of the few) that didn't crash completely over 2018's bear market and still looks healthy.
@Samaalic Era if you want I could help you get started on learning charts but mostly for crypto. I don't want to do alot of writing right now maybe tomorrow or something
Samaalic Era
QurboExit
That would be great sxb, it's alot of info to take in@Samaalic Era if you want I could help you get started on learning charts but mostly for crypto. I don't want to do alot of writing right now maybe tomorrow or something
Bohol
VIP
I am watching it closely I know from Dec 2018 to July 2019 it did around 20x. I am going to buy it once it dips under $2.
What platform do you use.
I use:
- Free trade (own a bunch of shares in companies) + dividend income
- Coinbase (own a bunch of Ethereum & Bitcoin)
- Tikr - have an investment fund
Wanna know what you use & Bohol kinda admire your financial post keep it coming brother (even tho we disagree politically)
true 95% of retail traders lose money
most dont understand its a rigged market,
the big boys and even small ones with lots of money now use algos, they go in a trade and buy and sell before the retail ones even execute an order,
also spoofing happens a lot and on top of this the boys with algos are allowed to jump the queue, trade before retail traders do simply because they have the money to entice the broker,
there is so much cheating, as a former trader i would blush how much cheating there was, they more money you have the more the brokers kiss your ass,
the state will not protect you, in fact they rig the market, if the state stopped fractional reserve banking, non of the big boys will ever rig you, they will not have the money to do so, so its funny the state acts but its fake action, never trust the state, it will not defend you,
small traders think the government cares about,
lot at lots of former regulators, its a revolving door, as soon as they retire, the big banks give them a job, why not he knows how cheaters are caught,
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