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Getting Started with Forex Prop Trading: Intro Guide🔸Forex prop trading (short for foreign exchange proprietary trading) refers to a trading model where traders use capital provided by a proprietary trading firm to trade in the Forex (foreign exchange) market. Unlike traditional retail trading, where traders use their own funds, prop traders operate with the firm's capital, typically after passing a series of evaluations to prove their trading skills and risk management abilities. In return, the firm takes a percentage of the profits generated by the trader. 🆕 Here’s a more detailed look at how forex prop trading works and why it's appealing: 🔸 Access to Capital Prop firms offer substantial capital to skilled traders, allowing them to trade with much larger account sizes than they might be able to on their own. For example, a trader might be funded with anywhere from $10,000 to $1,000,000 or more, depending on their experience and the firm's offerings. 🔸 Evaluation Process Most prop firms require traders to pass an evaluation or assessment phase before providing access to live capital. This involves trading on a demo account and meeting specific performance metrics like profit targets, drawdown limits, and risk management rules. If the trader successfully passes this phase, they are then given access to a live account with the firm's capital. 🔸 Profit Sharing Once a trader is funded, they enter into a profit-sharing agreement with the firm. Typically, the trader receives a percentage of the profits, often around 70-90%, while the firm keeps the rest as compensation for providing the capital and infrastructure. For example, if a trader makes $10,000 in profits and their profit split is 80/20, they would keep $8,000 while the firm takes $2,000. 🔸 Risk Management Prop firms are very strict about risk management because they are providing their own capital. They impose limits on the maximum drawdown (the amount a trader can lose), daily loss limits, and leverage. If these rules are violated, traders risk losing their funded status. 🔸 Advantages for Traders Low Financial Risk: Traders do not need to risk their own capital, reducing personal financial exposure. No Pressure to Invest Large Sums: With access to firm capital, traders don’t need to save up large amounts to trade at higher levels. Support and Resources: Many prop firms provide educational resources, trading platforms, and tools to help their traders succeed. 🔸Types of Prop Firms Prop firms can generally be categorized into two types: 🔸Traditional Prop Firms: These firms often require traders to work in-office and provide access to a wide range of markets beyond Forex, including stocks, commodities, and derivatives. Online Prop Firms: The more popular model today, these firms operate remotely, allowing traders from around the world to participate. 🔸 Fees Most prop firms charge traders an initial fee to cover the evaluation process. This fee can range from a few hundred to a couple of thousand dollars, depending on the account size. In many cases, this fee is refundable if the trader successfully completes the evaluation. 🔸 Challenges Strict Rules: If traders fail to adhere to the firm's rules (such as daily loss limits or maximum drawdown), they can lose their funded account. Pressure to Perform: Trading with someone else’s capital can create pressure, which can affect trading decisions and lead to mistakes if not handled well. 🔸Bot Algo Trading in Forex Algorithmic trading (algo trading) involves using pre-programmed instructions (algorithms) that can automatically execute trades in the Forex market based on specific conditions. These conditions can be price, volume, time, or other market indicators. Algo trading has become increasingly popular in the Forex market due to its ability to: ▪️Execute trades at high speed without the need for human intervention. ▪️Remove emotional biases, which can often lead to poor decision-making in trading. ▪️Test and optimize strategies through backtesting on historical data to ensure effectiveness. ▪️Implement complex strategies that would be difficult for a human to execute manually. 🔸what is a Bot Algo Expert? A bot algo expert is typically a professional who specializes in developing and optimizing trading algorithms (bots) for Forex markets. They possess skills in coding, often using languages like Python, MQL4/5 (MetaQuotes Language), and other programming languages tailored to financial markets. 🔸The expert focuses on building bots that can: ▪️Identify trading signals based on technical indicators (like moving averages, RSI, Bollinger Bands). ▪️Automatically execute trades when certain criteria are met (such as entering or exiting positions). ▪️Manage risk by setting stop-loss and take-profit orders to minimize potential losses. ▪️Optimize performance by regularly updating the algorithm based on market conditions. 🎁Please hit the like button and 🎁Leave a comment to support our team!
Education
by ProjectSyndicate
15
EURUSD Stuck in a Range: Will the Oscillation Break or Hold?EURUSD has faced repeated resistance at the psychological 1.1200 level, unable to break through, leading to the formation of significant bearish candles. The pair remains trapped in a consolidation phase, with no clear breakout in sight. Meanwhile, the recent upward momentum of the DXY hints at mounting downward pressure on EURUSD. Given these factors, I anticipate continued oscillation within the current range, with my focus set on a downside target at the 1.10800 support level. Traders, if you found this idea helpful or have your own insights to share, feel free to drop a comment. I’d love to hear your thoughts!
Short
by lonelyPlayer0
2
Replace a 100 000 USD salary with income from trading🔸 Develop a Strong Foundation in Forex Trading Before considering Forex as a full-time source of income, it’s essential to build a solid foundation in trading. ▪️Learn the Basics: Understand Forex fundamentals such as how currency pairs work, how to read charts, how the market operates, and how global economic events affect price movements. ▪️Master Technical and Fundamental Analysis: Study technical analysis (price action, indicators, chart patterns) and fundamental analysis (macroeconomic data, interest rates, geopolitical events). This allows you to make informed trading decisions. ▪️Study Risk Management: Managing risk is crucial to avoid catastrophic losses. Learn how to calculate position sizes, set stop-losses, and limit leverage. Most professional traders risk no more than 1-2% of their capital per trade. ▪️Backtest and Paper Trade: Test your trading strategies on historical data and in demo accounts to ensure they are profitable over time. This will help you refine your approach without risking real money. 🔸 Create and Test a Trading Strategy A successful trading career requires a well-defined trading strategy. This is critical for consistency and profitability. ▪️Define Your Trading Style: Determine whether you are a day trader, swing trader, or position trader, based on your risk tolerance, time availability, and financial goals. ▪️Build a Strategy Based on Time Frames and Setups: Whether you focus on scalping, trend trading, or breakout strategies, you need a strategy that works for your trading style. Be sure to incorporate indicators (moving averages, Fibonacci retracement, RSI) and a risk-reward ratio. ▪️Test the Strategy: Test your strategy on demo accounts or paper trade until you have confidence in its profitability over the long run. A good strategy should consistently deliver positive results over several months and market conditions. 🔸 Accumulate Enough Capital Forex trading requires sufficient capital to replace a salary and generate consistent income. ▪️Set Realistic Capital Requirements: The amount of capital you need will depend on how much monthly income you need and how much risk you are willing to take. Generally, to replace a full-time salary with Forex income, you will need significant capital (likely in the range of $50,000–$100,000 or more). This amount allows you to generate enough returns without taking excessive risks. ▪️Calculate Your Required Return on Investment (ROI): Let’s say you need $3,000 per month to replace your salary. If you have a $100,000 account, you would need a 3% return per month. If your account is smaller (e.g., $10,000), you would need a much higher (and riskier) 30% return, which is unrealistic in the long run. ▪️Use Leverage Cautiously: Leverage can magnify both profits and losses. While Forex brokers often offer high leverage (e.g., 50:1, 100:1), it’s essential to use leverage cautiously, as it can lead to significant losses if a trade goes against you.
Education
by ProjectSyndicate
8
EURUSD continues to maintain an increasing rangeConan, hello everyone. Today, EUR/USD is maintaining its initial bullish bias below 1.0800, after closing the session with a steady gain above the intact bullish channel. The pair is supported by optimism over China's stimulus measures and a broad correction in the US dollar, which helped reverse the decline caused by the ECB's dovish decision. On the other hand, any further upside is likely to face resistance around 1.0974, above which, it could trigger a short-term recovery and push EUR/USD towards the psychological level of 1.1020.
Long
by ConanTradingFX
EUR/USD should buy or sell ?Hello everyone! The EUR/USD pair has just broken a four-day losing streak and is currently hovering around 1.0840 in the Asian session on Friday. The recent decline has been largely driven by the strengthening of the US Dollar, with the greenback hitting a two-month high of 103.87 on Thursday. Despite the strong recovery, the market is now gradually shifting towards expectations that the US Federal Reserve (Fed) may cut interest rates soon, helping the EUR/USD pair recover slightly and minimize losses in the short term. As seen on the 4-hour chart, the EUR/USD downtrend remains clear, however, the key support zone at 1.0810 and then 1.0777 is still holding. Moreover, a harmonic pattern has formed, signaling a potential reversal, at least towards the 1.0980 level, where confluence signals are emerging strongly. Do you think this pair could reverse and rise again soon? Don't miss out on the exciting trading opportunities that await!
by ConanTradingFX
EURUSD Is Very Bearish! Sell! Please, check our technical outlook for EURUSD. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 1.086. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.084 level soon. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
HelenP. I Euro can break trend line and then continue to fallHi folks today I'm prepared for you Euro analytics. In this chart, we can see how the price some days ago rebounded from the resistance zone, which coincided with resistance 1 and started to grow. In a short time, EUR rose to resistance 2, which coincided with one more resistance zone (1.1170 - 1.1140), and even rose a little higher, but soon turned around and declined below. Next, the price some time traded below resistance 2, after which it later turned around and rose back to the resistance zone (1.1170 - 1.1140). Price some time traded in this area, until it reached the trend line, after which price started to decline. In a short time, the EUR broke the resistance level (1.1140) and continued to decline near the trend line. Later price reached the resistance zone (1.0925 - 1.0900) and soon broke resistance 1, after which made a retest and then continued to move down. At the moment price trying to break the trend line, and I expect that EURUSD will break this line, reach the resistance level, and then continue to fall to the trend line. That's why I set my goal at 1.075 points. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
3
EUR/USD dips after ECB lower ratesThe euro can’t find its footing and has tumbled 2.7% in October. EUR/USD has stabilized on Friday and is trading at 1.0835 in the European session, up 0.05%. On Thursday, the euro dropped as low as 1.0810, its lowest level since August 2. The European Central Bank didn’t surprise anybody with a quarter-point rate cut on Thursday, the first back-to-back rate cuts since December 2011. The markets had fully priced in the move and the euro responded with slight losses. ECB President Lagarde has discarded forward guidance and stressed that rate decisions will be on a meeting-by-meeting basis, but the markets smelled a rate cut, with low inflation and weak economic growth. The rate statement was optimistic, noting that the “disinflationary process is well on track” and that the inflation outlook had improved due to “recent downside surprises” in economic activity. The ECB has cut rates three times this year and is expected to remain aggressive. The markets expect are forecasting rate cuts of 25 basis points at each of the next three meetings. The eurozone inflation release, made just before rate announcement on Thursday, showed inflation falling to 1.7% y/y, down from the initial estimate of 1.8% and below the 2.2% gain in August. The decline in inflation was helped by a sharp drop in energy prices. Services inflation remains high but eased to 3.1% y/y, down from 2.9% in August. The inflation report reached a milestone, dropping below the ECB’s target of 2% for the first time since July 2021. EUR/USD is testing resistance at 1.0835. Above, there is resistance at 1.0866 1.0803 and 1.0776 are the next support levels
by OANDA
EURO - Price can continue to decline inside falling channelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price started to grow inside rising channel, where it soon broke 2-nd ($1.1090) resistance level. After this movement, price some time traded between resistance line of channel and with resistance area. And last time it bounced from resistance line and broke $1.1090 level, thereby exiting from rising channel too. Next, price continued to move down inside falling channel, where it broke 1-st ($1.0950) resistance level recently. Now price continues to fall near resistance line of channel, and I think Euro can rise a little higher resistance line. Then price will turn around and continue to fall to $1.0760 support line of falling channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
12
XAU/USD : IMPORTANT Pre Market Analysis (READ THE CAPTION)Currently, the price of gold is hovering around **$2656.99**. Recently, gold has seen a slight increase, driven by several factors such as inflation concerns, recent CPI and PPI reports, and geopolitical tensions. Key Influencing Factors: 1. Persistent Inflation: Recent CPI and PPI reports show that inflation remains slightly above expectations, keeping gold in demand as a safe-haven asset. 2. Interest Rates: Expectations around interest rate cuts have stabilized, which increases gold's appeal as a non-yielding asset. 3. Geopolitical Tensions: Ongoing global political instability, particularly in regions like the Middle East, is adding upward pressure to gold prices. Technical Analysis: • Resistance Level: If gold prices break above $2685, there could be further bullish momentum. • Support Level: On the downside, key support zones include $2636-$2642, $2628-$2630, and $2620, which should be closely monitored if the price declines, as strong demand in these areas could lead to a reversal. Outlook: Given the economic and geopolitical landscape, gold remains in a bullish trend. Traders should keep an eye on economic reports and geopolitical developments as any increase in uncertainty could further boost gold's price. This sets the stage for today’s market session, with potential for continued upward movement. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
FOREXCOM:XAUUSDLong
by ArmanShabanTrading
67
EURUSD Multi Timeframe Analysis 18.10.202415m Swing, Internal and Fractal Bearish and we are now testing fractal supply. We might get a bearish momentum to kick in from here or price could target deeper levels to mitigate premium supply zone For shorts it makes sense to follow Bearish order flow. For longs ideal to wait 4H Internal ( or 15m Swing ) to shift bullish I have already mentioned couple of times that we could get fake breaks as we are in unmitigated daily demand range now and we already had fake bullish 4H ChoCHs. This could be to target unmitigated supply zones. Wait for strong bullish momentum to play longs.
Short
by alplaila
2
EURUSD Stays In Downtrend After ECB Cut RatesThe Euro is weak across the board after the ECB cut rates by 25 basis points yesterday, as expected. More importantly, Christine Lagarde noted that data suggests the economy in the Eurozone is weakening, which means there could be more rate cuts on the table in the future. However, this will depend on upcoming data, as noted by the ECB President. Looking at the wave counts, we are definitely seeing a bearish impulse. The only question is whether we will still see a fourth wave rally, or if higher ABC recovery will show up. In either case, there should be more weakness after the next bounce, which I will track closely for potential shorts. Strong resistance is definitely around 1.09 to 1.0950. Grega
Short
by ew-forecast
EURUSD Bullish trade idea from 1.08071 - 1.07841.EURUSD Bullish trade idea from 1.08071 to 1.07841. The Price already tested the zone at 1.08137 and pushed back with price rejections and a strong confirmations candle. As per the DXY (Dollar Index) last fall will also positively affect the price; the proper setup will also have a proper stop loss behind the 1.07816 level because last time market moved a fake breakout of structure in August 24 which also mentioned. The target level will be 1.10013 to 1.10654. When taking an entry on the Euro, please place a stop-loss and take 1-2 % risk on your account balance.
Long
by Bloom_Forex_Official
4
Fundamental Market Analysis for October 18, 2024 EURUSDEUR/USD broke its four-day losing streak, trading near 1.0840 during the Asian session on Friday. However, the US dollar (USD) received support and hit a two-month high of 103.87 on Thursday, helped by a good US retail sales report, which fueled expectations that the Federal Reserve (Fed) may go for a nominal rate cut. According to the CME FedWatch Tool, there is a 90.8% chance of a 25 basis point rate cut in November and a 74.0% chance of another cut in December. U.S. retail sales rose 0.4% month-over-month in September, exceeding both August's 0.1% increase and market expectations for a 0.3% increase. Initial jobless claims in the U.S. fell by 19,000 in the week ended October 11, the largest decline in three months. Total claims fell to 241,000, well below the 260,000 expected. However, the euro faced downward pressure following Thursday's decision by the European Central Bank (ECB). The ECB cut its main refinancing operations rate and deposit rate by 25 basis points to 3.40% and 3.25%, respectively. Trade recommendation: Watch the level of 1.0860, when fixing above consider Buy positions, when rebounding consider Sell positions.
by Fresh-Forexcast2004
USD/JPY Towards 160 if the Fed doesn’t cut!USD/JPY is currently trading near the 150.00 level, under pressure due to verbal intervention from Japanese authorities and a pullback in the US Dollar. The pair is navigating a cautious environment, as mild risk aversion strengthens the safe-haven Japanese Yen. However, despite this pressure, the pair maintains its broader upward trend after breaking a key resistance level. Fundamentally, USD/JPY continues to find support from strong US retail sales data and a resilient labor market, along with rising US Treasury yields. This has led investors to reduce the likelihood of a 25-basis-point rate cut by the Federal Reserve at the November meeting, keeping the dollar supported and the pair on a bullish trajectory.
Long
by Forex48_TradingAcademy
1
#EURUSD - 18 OctI was away and while I was still looking at the indices, it was not so much for FX but I do know how USDJPY is rallied, and how DXY is strong. It was much interesting how indices continued to be strong but at the same time, DXY gained so much strength too. But if we look at the weekly candle, we can see how bearish EURUSD was from 3 weeks back, with the bearish engulfing candle, and from then on, EURUSD just almost just trend down from then; there is pretty much nothing bullish on daily but trying to catch any bottom from here would much be disastrous. However, for today, especially after yesterday's sell down, almost to the strong level, and then a quick rebound, IMO, EURUSD has a chance to go to 1.0864 before a move lower. And 1.0864 is a confluence of level and my algo band and also a trendline resistance. A break above 1.0864 IMO will bring further recovery in EURUSD.
by FadeMeIfYouCan
EURUSD : Preferred sales strategy.Analysis: Pattern Breakdown: The price has broken below the rising trendline, confirming a bearish sentiment. Resistance Zone: There's a highlighted zone around 1.0950 – 1.1000, where a previous support level is now acting as resistance. Support Target: The chart suggests a potential move down towards the key support area around 1.0790. Trading Strategy: Sell Opportunity: If EUR/USD retests the resistance zone (1.0950 – 1.1000) and fails to break above, this presents a selling opportunity. Target: The initial target would be the 1.0790 level, which is a key support area and the next significant downside target. Stop Loss: Place a stop-loss above the 1.1000 level to manage risk in case of a reversal.
Short
by Pierce_Bowers