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The Forex Game is a free game about the forex market which can be played from your favourite internet browsers. Forex Game is designed specially to act as a forex trading simulator which enables the average Joe in the street understand how the $6 trillion forex market works. Forex Game
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Spark Profit is a web & mobile platform where you can play on the Forex market using points you gather from making correct predictions rather than using your own money. This means it's completely risk free and you can only gain a profit. I have played for a while actively and gathered some points but I'm picking it up again. Here you can see all the markets you can play with. You get paid each week depending on how you performed and how many points you have and gathered. The payout minimum of $30 is pretty high. I advise to see it as a game where can possible earn some money. This video explains it very well: https://www.youtube.com/watch?v=WtwM3gwLCXs
https://sparkprofit.com/intro?by=dQwWqr JOIN THIS! It is a forex game with no risk but you can earn real cash via PayPal!!! Spark Profit aims to be the world's most rewarding app! It teaches you how to profitably trade on the financial markets, and pays you cash rewards when you do well.
I'm going to let you guys in on a bit of a secret. This is from someone that has been in this Forex game for over 8 years now, and has traded professionally at financial institutions for short stints. What you know about risk reward is probably why you've been losing money. The common knowledge is this. Use a 2:1 or higher risk reward because that way you'll make twice the profit when your right and half the loss, thus you only need to be right 33% of the time to make a profit! It SOUNDS good, but actually there's a fatal flaw. It has everything to do with market noise. Market noise is generally a lot larger than most people realise. I'm willing to say anything less than a multi-day time frame is almost dictated by market noise most of the days. Market noise can either be your greatest ally, or worst enemy. You can never predict if the market is going to go up, or down.. but you can almost be 99% sure that the market is going to by noisy. Most of the time VERY noisy, up down. Here is the kicker: When you setup a 2:1 trade. You are effectively making this bet: "I bet you that the price will hit X.. BEFORE it hits Y." By making X twice as far away as Y.. you are effectively betting against the STRONGEST and MOST PROBABLE force on the market.. market noise. In order to win a 2:1 R:R trade.. you not ONLY have to be right about your underlying trade idea. You actually have to HOPE that the market noise won't cuck you out of a profit. i;e You are betting AGAINST market noise. So how can we thwart this demonic force? I'm going to say something controversial: 1:1 Risk:Reward trades are hands down the BEST ratio to use on anything less than the daily timeframe Why? because your just as likely to get fluctuated into a profit, as you are into a loss. Over time this cancels out and what your left with is purely whether or not your strategy is profitable. Most strategies ARE in fact profitable. Fibs, cup and handles, all this junk. They are >50% win rate. The problem is people use greater than 1:1 R;R and end up getting fluctuated out of 70% of the trades. So moral of the story: Use 1:1 Risk:Reward. The reason why most people dont make money in Forex is because most of the marketing and educational material spew crap about 2:1 R;R or 4:1 R;R. There is a place for that kinda R;R and it's the monthly timeframe. '
So I don’t know much at all about the trading and forex game but I am trying to learn. I saw an ad on IG account had 15k followers and he’s claiming to be able to give 100% returns in 2-4 weeks via managed accounts I’ve seen crazy shit like this in movies but does it sound legit to you guys or a scam? If scam, how would he steal my money?
So I'm kinda new to the forex game as far as experience goes. I've followed a couple of signal services but am really trying to learn price action to really get more comfortable. I'd like to get self sufficient in my trading. thanks
I used to argue that unlike futures and options, the stock market is not a zero sum game. I would cite how an IPO could rise in price on the first day of trading and how the many shareholders made money the moment one share traded at a higher price. Or perhaps after a good earnings announcement, shares rocketed. What changed my mind was when several people pointed out that stocks do not create money. The value of those shares was greater but that was notional wealth. If you paid $10k for the shares and they're now worth $15k, it's just a paper value. It's no different than my telling you that the $50 watch on your hand is worth $2k. It's just a notional number. You don't achieve that $15k (shares) or that $2k until someone gives you that money in return. And then, his loss (the money) is your gain. It's just the transfer of money. Suppose the amount of money in the stock market was fixed. Shares would trade hands (along with the cash) and some would gain while others lost. The only difference from that hypothetical is that new money comes into the market and it simply repeats the process of exchanging shares for cash. It's the perfect pyramid scheme. The Forex Game is a free game about the forex market which can be played from your favourite internet browsers. Forex Game is designed specially to act as a forex trading simulator which enables the average Joe in the street understand how the $6 trillion forex market works.
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I have been moving some of my investments around. I just got out of real estate investing after 14 years and we did pretty well overall. Definitely cant complain. I have been putting money in other, secure places, and I have wanting to learn day trading. It has been something I have been intrigued by for awhile. I downloaded Forex Game just to get even the smallest levels of familiarization with how certain markets move. I do well in the app. I am not looking to get rich. Just more of hobby since the cash on hand is just some left overs from my new investments. The broker app that the the Forex Game points me too doesnt have great reviews. So I was wondering what is a good broker app to use that is user friendly? My goal for now is to just trade currencies throughout a day. Nothing long term. I have $500 to mess around with so if I lost it my very frugal wife wouldn't have a heart attack. Thanks for the help, looking forward to trying something new with a little more risk 😎. Any other advice for this amateur investor and new day trader would be appreciated.
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