Deciding if I should pursue a career in forex trading (as a 15 year old)
Hey everyone, I’m a teenager living in the uk and in the past 9 months or so I’ve been trying to decide what I want to do once I leave school. Long story short I have lots of interests but my ultimate goal in life is to travel the world and gain ‘financial freedom’. I know this sounds very typical of a teenager which has been exposed to gurus or whatever but I want some opinions off some professional or experienced traders not these gurus trying to sell me something. I would just like to know if forex trading is a career where you can be very successful and I will start learning as soon as I can, I’ve learnt all the basics but I want to keep learning more about it so I’m ready to trade real money when I’m 18. I really hope I don’t come across as just some idiot who thinks it’s a get rich quick scheme because I certainly know it’s not. I would really appreciate any advice and comments if anyone sees this, Thank you
I want the option to buy 1,000,000 EUR at a minimum USD rate through a Long Put. Current Spot Rate = USD/EUR = 1.20 Put Option X = EUUSD = 0.8080 Premium = EUUSD = 0.0134 Notional Principal = 1,000,000 / 0.8080 = 1,237,624 USD Premium Cost = 1,237,624 x 0.0134 = 16,584 EUR What's the cost of the 16,584 EUR in USD? A or B? A. 16,854 / 0.8080 = 20,525 USD B. 16,854 x 1.20 = 19,901 USD I don't understand why the textbook uses A. Wouldn't we use the current spot rate for the cost of the option? Thanks.
This Random strategy broke even trading Forex every 15 minutes for a month.
New to Algo trading, and just learning and experimenting. I'm posting this more because I found it to be interesting, though I wonder if anyone could suggest one small change to give this an edge slightly above break-even. (One old weird trick the algorithms don't want you to know!?) I realize that 1 month isn't much time at all, but this thing traded every 15 minutes, 24/5. Results: Break-even, after fluctuating +/- 10% several times throughout. Parameters:
Account Value used per trade: 50%
Stop Loss: 10 Pip Trailing
Schedule: cron job on a Debian server, firing every 15 minutes
Step 1: Roll the dice to choose currency pair, each pair assigned to a side of the dice
Step 2: Flip a coin to determine direction. Heads for Long, Tails for Short
Step 3: Trade the randomly generated results
I thought this would waste my account in a big hurry, but I was pretty surprised at how well it did. Yeah, it isn't profitable, but for being totally random, I was not expecting it to break-even. This experiment was inspired by the Incerto series by N. N. Taleb. (I should clarify- he doesn't advocate for trading this way, just reading so much about randomness got me interested in the experiment) Here's a link to the actual script, for those interested. https://pastebin.com/raw/Qwcr6hMG
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