Anyone successfully trading Forex?

bèlla

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Advisors say to invest in companies that you know and admire.
This improves your knowledge of how they are run and raises
your chances of investing profitably.

True. That’s how you mind your money.

My daughter enjoys crypto. She gave me some for my birthday. Less than $250 in August. I’m at $3,200 now. She manages it. My aunt got on board during the holidays and mum is joining in.

~bella
 
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SkyWriting

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True. That’s how you mind your money.

My daughter enjoys crypto. She gave me some for my birthday. Less than $250 in August. I’m at $3,200 now. She manages it. My aunt got on board during the holidays and mum is joining in.

~bella
For bitcoin itself, since July '21 it doubled over the
next 4 months, then dropped to 50% of that value.
So you're in for a roller coaster of speculation cycles.
Today is likely not a good time for her to update you
on your investment. Ask again in a couple weeks.

But if you are brave, today is a good time to buy more
while prices are in the dumpster.

Bloomberg.com
Crypto Crash Erases $1 Trillion in Value; Bitcoin (BTC), Ether (ETH) Prices Drop
1 day ago


Crypto Crash Rocks Coinbase as Mainstream Investors Flee Bitcoin - 2 hours ago
 
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bèlla

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For bitcoin itself, since July '21 it doubled over the next 4 months, then dropped to 50% of that value.
So you're in for a roller coaster of speculation cycles.

There are other options besides bitcoin. Crypto currency isn’t a fad. There’s sizable investment in the metaverse and nfts by major companies. I get information every week.

~bella
 
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SkyWriting

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There are other options besides bitcoin. Crypto currency isn’t a fad. There’s sizable investment in the metaverse and nfts by major companies. I get information every week.

~bella
Fads are only identified after they are past.
Rarely do owners know what a fad is.

For example, every person I have ever put on my ignore list was a fad.
When I check back every few months, those users are gone.
 
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Carl Emerson

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True. That’s how you mind your money.

My daughter enjoys crypto. She gave me some for my birthday. Less than $250 in August. I’m at $3,200 now. She manages it. My aunt got on board during the holidays and mum is joining in.

~bella

Do you know if she purely trades the trend or trades the oscillations?
 
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bèlla

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Do you know if she purely trades the trend or trades the oscillations?

Both.

I remember an article on wealthy real estate that caught my eye. I copied the stats for future reference. Notice the changes. America was the lone one whose position was based on the market.

2019
  1. London
  2. New York
  3. Hong Kong
  4. Paris
  5. Singapore
  6. Miami
  7. Geneva
  8. Shanghai
  9. Beijing
  10. Berlin
10 Year Predictions
  1. London
  2. New York (dependent on Wall Street’s performance)
  3. Beijing
  4. Shanghai
  5. Singapore
  6. Hong Kong
  7. Paris
  8. Unknown
  9. Geneva
  10. Berlin
 
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Carl Emerson

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Both.

I remember an article on wealthy real estate that caught my eye. I copied the stats for future reference. Notice the changes. America was the lone one whose position was based on the market.

2019
  1. London
  2. New York
  3. Hong Kong
  4. Paris
  5. Singapore
  6. Miami
  7. Geneva
  8. Shanghai
  9. Beijing
  10. Berlin
10 Year Predictions
  1. London
  2. New York (dependent on Wall Street’s performance)
  3. Beijing
  4. Shanghai
  5. Singapore
  6. Hong Kong
  7. Paris
  8. Unknown
  9. Geneva
  10. Berlin

Interesting...

So the choice of Crypto is based on volatility.

I just checked the chart and from August to now is a loss, but the volatility is exceptional.
 
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bèlla

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Interesting...

So the choice of Crypto is based on volatility.

Not completely. It’s a money play for certain. NFTs are promising. I liken it to hedging.

I don’t limit that to finance. That’s my approach in many areas with the Lord’s input.

For example…

Homesteading is a hedge
Where I’m looking for property is one too
So is work
The topics I explore

And so on. Everything I do has unspoken motives. I’m broaching it from many angles. Crypto is my daughter’s contribution to the bigger plan.

~bella
 
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Redimi2

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Hi there,

I have been dabbling with Forex for over 10 years.

Keen to hear of anyone trading profitably.
Hi :) I recently started in forex trading and I paid a group of very good professionals who send analysis to earn while I learn, I had even buy a funding account with $5k but I read a comment that really shocked me in a traders chat and it's true, when you win another loses. Don't you have some kind of problem with that? Trading it's kind of a zero sum game
 
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Carl Emerson

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OK... first off the majority of players are commercial so the tit bits that you or I trade are a drop in the ocean and affect no one personally.

Secondly there are always losers in trading of any sort and Jesus didn't say don't trade or Peter would have given up fishing..

Thirdly only about maybe 2% of those who try, make consistent earnings trading Forex long term.

So yes it is a risky business but not a zero sum game for those who succeed.
 
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Redimi2

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OK... first off the majority of players are commercial so the tit bits that you or I trade are a drop in the ocean and affect no one personally.

Secondly there are always losers in trading of any sort and Jesus didn't say don't trade or Peter would have given up fishing..

Thirdly only about maybe 2% of those who try, make consistent earnings trading Forex long term.

So yes it is a risky business but not a zero sum game for those who succeed.
what you say is true, forex is a market where not everyone seeks to win, there are many hedge funds or millions of companies that change currencies daily to make payments around the world. but in that group that I am they also operate US30 and they are quite good but unlike forex for the us30 you use a cfd and the cfds are a negative sum game and that is why I have been a little thoughtful about whether or not to operate the index , but I started to think a bit and as you say in business when someone earns money directly or indirectly someone will end up losing a little or a lot and it happens in any business including real estate that always tends to go up, I was looking at google and youtube that investing in the stock market is not a sin because it is about winning for the common good, but if I buy a share of Walmart for 100 dollars and they start to do things well and the company is revalued at 200 dollars per share and I sell that share, me and a lot of people will have made money without a negative sum game in plain sight but what about the competition from walmart? If Walmart outsells Costco, they will lose value on the stock market, investors will lose money, and I will have gained at the expense of Costco and other major chains, not to mention the consequences that this increase in sales could have brought to other retailers that they may have had to lay off. several employees or even bankrupt, no one even knows if after selling my shares for 200 usd they collapse in a matter of days or months and the buyer incurs losses so I think that's how the economy works and I shouldn't feel guilty for that reason! The same thing happens as if I had a pizzeria and the one 2 blocks away went bankrupt because I sell tastier pizza! I think the Lord cares that we do things right as far as we are concerned, such as not stealing, using part of that money for the kingdom of heaven or not engaging in unfair competition, among other things, but there are situations that are beyond our responsibility, such as That someone mortgages his house to operate and loses everything and from that money they pay me! Everyone must be responsible when investing their money!

How do you see what I'm telling you? Do you think I should then operate the us30 or not?
 
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Carl Emerson

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Good question - I am comfortable with Forex but the issues you raise with US30 seem valid. However winning and losing is simply part of life and the matter comes down to motive. Is your intent to harm ???

I think this is a good matter to discuss with a wider group of members.
 
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