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Need some legitimate risk management advice

Brand new to forex, after messing around with stocks and ETFs for a year on robinhood.
In trying to learn about this strange new world, seemingly every article warns me that trading forex is the fastest route to poverty, that I'll lose every dime I have and that I'm better off buying lottery tickets, UNLESS I have a risk management plan.
That's all good and well, but it seems hard to find suggestions on how to actually manage my risk. So far what I have found is either unconvincing, or I just flat don't understand what is being explained. So I've landed here.
Reading the Forex FAQ, in this sub, the advice is to use a very small amount of capital when starting off, and practice live trading from there. If then recommends a formula to use in order to calculate risk, which seems like quite a bit of running calculations for every single trade that I make. Is it really the case that every Forex Trader that manages risk runs a series of calculations for each and every trade in order to figure out pip value and leverage amount, such matter and what have you?
Second problem, before even getting to the risk management section of this Subs FAQ, I'm told to read The Beginner's Guide on baby Pips. Babypips says that when you first start off trading you should not start small because then you will never be able to weather times of drawdown. They recommend something like an initial deposit of $20,000 or 50,000, and saying that if you don't have that much then build up your savings and come back the Forex when you have that to drop into the market. Are you kidding me?
My original plan before reading either of those guides was to deposit $300 and use something like a 10 to 1 or 20 to 1 Leverage.
The part that I'm hung up on which really baffles me and I need some help understanding is everywhere seems to say that I should only risk one or 2% of my account. I don't really understand what that means.
My trading app, OandA allows me to set default trade settings. One of them is trade size, which I can select an option "%Lev NAV" In all of my general Trading I have kept this number at 100, assuming that it is simply using 100% of my account for each trade.
I am also using a system in order to Define very specific entry points with a one-to-one risk reward ratio, setting a stop loss and take profit Target, usually between 9 and 60 Pips in size, depending on the instrument. Thus far, each trade that I have won usually amounts to a 3 to 8% change in the demo account value, which seems comprable to what I was experiencing with stocks and ETFs back on Robinhood. For the last 4 trades I've made, I'm up 15%.
Do I need to adjust this % Lev NAV down to 1% instead of 100? Or do I really need to download a pip value calculator app and make a determination after solving some arithmetic? I just can't seem to figure this out, and different sources use the same words interchangeably yet differently. When risking 1% of my account, does that include leverage, or not, in the trade? And if the most anyone recommends to risk in a trade is 1-2% then why use leverage at all? Won't the returns on 1% be so small as to be negligible? I don't seem to understand how it could possibly be Worth while to spend all that time trading... 1℅ of $300 is three bucks. As I understand it, that would allow me to buy 2 units of the EUUSD... there's no way that could be right, right?
Thanks for your patience and for reading this whole, chapter-length, question of a post.
I look forward to some clarity. I don't know how to switch to live trading, and the demo account does nothing to simulate leverage.
submitted by rm-rf_iniquity to Forex [link] [comments]

Tips That Will Help With Your Personal Budget

Now is the best time to take control over your finances. This article provides some quick tips for better financial management.You don't need to take classes or years of training to start seeing big savings by improving your financial management skills. Every single knowledge you learn will help.

Do thorough background research on any broker you cannot trust.Check a broker's references and find someone else if you feel they say to judge their honesty. Your own experience can help you to spot a broker.

When trading in the Forex market watch the trends.Don't sell when there's an upswing or downswings.

In these volatile times, it's best to have multiple savings plans. Put some money into a standard savings account, more in a checking space, invest some in equities, and then put more into higher-interest arenas and even gold. Use all or some of those ideas to safeguard your money.

Buy your food in bulk to save money and time. Buying product in bulk is generally less expensive if you actually use what you bought. A lot of time can be saved by cooking a week's worth of the week.

The simplest way to keep your finances on track is to avoid consumer debt like the plague. Think about the time it will take in order to be paid. You shouldn't make any credit card charge that's not imperative and can't be paid off within a month.

Take advantage of automated online banking alert services offered by your bank can offer you. Many banks will send emails or text message updates in the event of changes to your account.

If someone is always finding extra dollars in their pockets, there is an "investment" that could (emphasis on "could") improve his financial position.Use those dollar bills and buy lottery tickets that can possibly win you the jackpot.

You can sell an old laptop if you're trying to earn a little extra money every week.

Even if you have a solid financial plan and budget, you can run into unexpected financial issues. It helps to know how much the late fee is and extension period allowed.

Avoid ATM fees by using your bank. Financial institutions like banks often charge high transaction fees when people use other ATMs, and those can build up fast.

Not every debt you have is a bad debt.Real estate can be considered a good debts. Real estate is good because, and in the short term, the interest is deductible. Another king of good debt is a college loans. Student loans generally have lower interest rates are are not repaid back after graduation.

Don't cut corners to save money by putting off needed maintenance. By making sure that everything is in working order through maintenance checks, you will avoid bigger problems in the future.

Learning techniques to help you properly manage your personal finances is one of the best things you can do to improve your life. Put some of the above suggestions to work. When you use these tips, you'll be able to save quite a bit of money. Now that you see proof of this working you will be more motivated!

submitted by sellmyhousecompare60 to u/sellmyhousecompare60 [link] [comments]

Your Personal Financial Path Is Yours To Control!

Do you want to take control of your finances? Taking control of your money is an essential step in life.

When trading in the Forex market watch the trends.Don't sell on upswings or downswing.

Don't fall for the scam that a clean credit report. A lot of companies will try to make a cover-all statement that they can repair your history. This is not at all accurate since there is no similarity to how your credit is not the same as another deals with credit issues. To guarantee success would be a lie and no one should make this promise.

Having a concrete plan is effective as a motivational tool, as it provides you with a purpose to work hard to prevent overspending.

The simplest way to keep your finances on track is to avoid consumer debt like the use of credit cards to begin with. Think about the time a particular purchase will take you to pay it off. You should stay away from any credit card charge that's not imperative and can't be paid off within a month.

Your car is one of the most vital purchases that you have to make during your life. You can sometimes find great deals on classified ads sites.

Make sure you're paying your utility bills by their due date each month. Paying bills late could ruin your credit. You may also be charged a late fee, adding to your bill.Paying your bills in a timely manner is the best way to use your finances.

You can find coupons and discount offers online that might not see in stores or newspapers.

If a person ends up with many one dollar bills over the course of a month, take a chance on luck. Use those dollar bills and buy lottery tickets.

Not all debt you have is a bad one. Real estate investments are examples of good investment. Real estate is good because, and in the short term, they increase in value over time and the loan interest is tax deductible. Another king of good debt would be a college expenses. Student loans typically offer lower interest rate and can be paid back after graduation.

Watch for letters that tell you about changes in your credit account. The law states that these creditors must give you at least 45 days before the changes go in affect. Read the disclosure of changes and see if the changes are worth you keeping the account. If you don't like the changes, pay the remaining balance due, and close the account.

Find and target areas where you are spending a lot of money.Any extra money that remains should be used to pay off debts or increasing your savings.

Have you considered using a credit card that offers a rewards plan? Rewards programs are best for people who pay off their balance in full each month. Rewards cards are a great way to earn cash back, airline miles, and save on other expenses as well. Look for cards that will give you the most benefits and see what works best for your own financial situation.

If your paycheck is entirely spent before the end of the week, you may want to find a way to cut back on certain novelties. For instance, do not try eliminating dining out completely.

As the article indicates, learning to effectively manage your personal finances is a critical life skill. Our financial situation can be bettered by following the tips above. Not only will you finally be able to get your finances under control, you can reach your goals and make efficient use of your money.
submitted by sellmyhousecompare26 to u/sellmyhousecompare26 [link] [comments]

Apple banned cryptocurrencies purchasing for the Apple Card

Apple banned cryptocurrencies purchasing for the Apple Card
Users of the Apple Card, developed by Apple in partnership with Goldman Sachs investment bank and Mastercard, will not be able to buy cryptocurrency. Also, they can’t purchase casino gaming chips and lottery tickets, as well as betting on sweepstakes, the user agreement says.
According to the document, users are not allowed to use the Apple Card to receive cash loans and cash equivalents, along with “any illegal activity, including gambling on domestic or international websites or the purchase of illegal products or services.”
In particular, Goldman Sachs equates “the purchase of traveler’s checks, foreign currency or cryptocurrency” to the acquisition of cash equivalents.
It should be noted that Apple introduced the Apple Card in March 2019. You will be able to release a virtual card - and within a few minutes, it will be active thanks to Apple Wallet app.
You can pay with the card wherever Apple Pay works. For Apple Card users, there will be no annual fees, late fees, or fees for exceeding the limit. Also, the service involves the accrual of cashback - 2% of any purchases and 3% of purchases in Apple services.
Apple management noted that the company will not be aware of how much you spend and what you buy, so this data will not be available to third parties.
The application allows you to track statistics on purchasing, automatically distributing it into categories and adding the address where the purchase was made. The app uses artificial intelligence and geolocation data from Apple Maps for statistics. Later, Apple CEO Tim Cook announced that the Apple Card would appear in the US in August 2019.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
submitted by Itrader_com to u/Itrader_com [link] [comments]

How to invest?(Europe)(smallfry)

I would like to understand investing on a personal level.i dont know if i am expressing myself properly so please bear with me.
I have recently started having the ability to save,and I have zero desire to put it in a bank because that's just giving my money to someone else to gamble,so I want to know my potential investment options.
anything where I get the value of my money back at the value of what I put it in in the first place (linked to the economy) or with the potential to accrue interest (I expect very slowly).
I am not opposed to buying something some one else needs to rent so long as maintenance costs and labour aren't unrealistic,or investing in an index fund (how the fuck do I do that in Ireland ????) I am not interested in stocks or Forex beyond using them as lottery tickets.I have been reading books and posts about finance for like a year now, alot of stuff on reddit seems only to apply to North America and I guess I don't value money the right way because I still don't understand the right way to make a stable cushion for oneself moving forward into the future without having to be extremely frugal (which doesn't work for me because I impulsively will spend all the money in one purchase I save if I feel like I 'saved' it...how bad is that)((but that purchase will end up lasting over a year and being very valuable to me...but like it's perfume seriously))
I have mental health issues that makes being able to work consistently a dubious assumption to make.I totally empathise that you hear these posts alot,but I don't have anyone to tell me this stuff like you probably did,so please share your knowledge instead of being mad :) Thanks
submitted by LRLI to personalfinance [link] [comments]

How can one start a hedge fund investing in lotteries?

I would like to start a hedge fund that specifically purchases state pick 3 or pick 4 lottery tickets. It may sound crazy; however, if you add strategies (as if you were buying stocks or forex), apply careful martingale money management and gauge when to purchase tickets, the roi can average around 2500%-4200%. (All based on strategies plotted with 30 year historical data of 15 state lotteries). Planned maximum monthly investment does not exceed $550K.
Plan can be scaled 2 to 3 times and can be applied to almost any lottery.
Willing to work for 0 (zero) for 90 days to show that this works.
submitted by ScribblerX to hedgefund [link] [comments]

Should I buy bitcoins? The idea that you may lose money is making you pass on a tremendous opportunity.

I replied to this thread, and I thought my comment might be of use to the influx of new users on /bitcoin.
How much money do you throw away on a monthly basis? How many Starbucks, how many beers, and how many nights do you eat out?
Take a little of that money and invest. The potential upside is definitely worth the downside of losing a few bucks. Just think of it as money you have already lost. Don't ever expect to get back a penny and don't ever expect to 'cash out'. Just hope you wake up one day 20-30 years from now and you realize you have a nice retirement fund. You aren't a FOREX daytrader, you're just some guy (no offense). Buy and hold, that simple.
What were you doing with that money anyway? I have seen this question about people sitting on the fence more than a few times, and I am beyond puzzled by it.
Suppose you buy 2 coins at the current record price of ~$49, according to the idea that we reach just 1% of the world currency market, your $100 would be worth ~$56,780. Do you think you can handle losing $100?
People keep getting scared about losing money, how much money do you really save!? Are you really scrimping every penny toward retirement? I bet not.
Losing a hundred dollars is doable for most people, and most people probably do it every month without realizing it. You aren't buying a lottery ticket, you are buying something you believe in. Like gold, food, or timber, bitcoin is a commodity. Owning a bitcoin is like owning an ETF on all of bitcoin space. Why in the world would you pass by this opportunity!?
Potential loss = $100
Potential gain = ~$56,780
Which one do you perceive to be the greater loss?
I hope this helps some people who are thinking about buying bitcoins :) And if you can't stand to lose $100 you probably shouldn't be looking at buying bitcoins or any speculative investment for that matter. Pay some bills or save in a bank account.
Have a great day everyone!
submitted by XxionxX to Bitcoin [link] [comments]

Lottery Ticket - Full Movie  2010 - YouTube $500 IN TICKETS! **FULL PACK** $500,000,000 Cash 💰 TEXAS ... BUYING ALL THE LOTTERY TICKETS IN THE LOTTERY MACHINE ... CRAZY ODDS LOTTERY TICKETS! PROFIT! I BOUGHT THE WORST REVIEWED LOTTERY TICKET IN THE WORLD ... HUGE WIN!! $300 Book of Mississippi Lottery Love Y'all Scratch Off Tickets P11 - Winners! Jackpot.Watch, Lottery Ticket Scanner. Homer buys lottery tickets

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Lottery Ticket - Full Movie 2010 - YouTube

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