SorryOriginally Posted by ;
It can be carried out easily with a very simple method but you want a big bank roll. . . Be careful whose advice you hear. Be great and have a great 2015.Originally Posted by ;
What you are asking for is far from hopeless IMO. What's needed though is putting the time into working out a egy that you know not just what you see somebody else doing.
We all see this market somewhat differently in contrast to another article. . .take the time to figure out what works best with the view of this market - it will be well worth it.
Good Morning Ronald.
5-10% yield a Month is Very Likely.... The Goal Here Is in Order To Consistently Make These Return Month Following Month Are Less Likely Without A Lot Of Study And .
I haven't shown my face around these forums in several years; though I do regular them a lot and I have had several years mulling and helping teach folks around me the basics of statistical tradings with a small Element of fundamentals - although fundamental trading really requires being before the herd as publicly publish news and most of everything you see or read about the 'routine' news outlets will either be accounted for in the market or to help large cash fill positions as BIG BANKS get liquidity issues.
With this a negative; we are left with enough tools to trade. I will start with few essentials and if questions or I see the necessity to edit I will adjust since the time sees fit.
1. Money Management 1-3 percent - Can Be ESSENTIAL
2. PA - Price Action is equally as crucial.
3. PATIENCE
4. GOOD BROKER
1. Money Management - I can't stress how significant Money Management; For a Beginner or Somebody with years or even lifetimes under their belt.
Currency Trading ought to be thought of us a investment, with the capacity to lose! And shed BIG! Thus in order to have the ability to sustain numerous draw-downs that all systems no matter how accurate WILL OCCUR time-to-time.
So before we enter a trade we have to set the maximum! We can potentially lose, should the market go against our position/s; I might suggest scaling stop-loss for 1% of your account balance. We're searching for moves where we could take-profit at 3 or even more times our risk; differently the trade fails our standard.
SL - Look for major Support or Resistance (around large quantities) Price will usually examine these; if it breaks it might move against us. Therefore we re removed from the commerce before we maintain large loses.
2. Price Action - Will determine your entry/exits of positions and most importantly where to place STOP-LOSS.
THERE IS Just One CONSTANT AND THAT'S CHANGE - Systems and Price Analysis lots of use prior to no-longer work or as well.
This may possibly because of the fact that markets forces are continuously changing or maybe manipulation is much more likely. Which ever we may decide on.
THE Truth Is THAT HIGHER TIME-FRAME THE HARDER ANYONE CAN MANIPULATE THE MARKET
Look for trends on DAILY'S/WEEKLY'S/Monthly, PLACING TRADES ON 4H AND MAYBE 1HR AFTER 3-6 MONTHS OF CONSISTANT PROFITS.
(But even then I rarely trade utilizing hour's - largely to instruct people away from them. There are few exceptions)
I won't bog your thread up with a lengthy discussion of PA (price action) since JAMES16's Thread has years of discussion, concept and the evolution supporting the idea.
3. PATIENCE - This is the part most if not all retail traders will struggle with; I too. I started trading as a teen in the mid 2000's I watch the 2007-2008 World Markets Fail and seen MASSIVE MOVES. I wanted to be a portion of them. But as quickly as I made money the quicker and more volatile the swings I was being baited into to numerous market positions. Eventually trading became like the casino rather than a slow good investment.
You will find currencies and time frames that offer the high volatile moves and swings; but if you're planning to master the dragon() well your in for a roll-coaster and may also head directly to the casino.
Currency trading has many elements to it. You can read and find out the basics for statically trading and maybe master it. But from my discussions with other trader who have been in this for a short time. All have a keen interest in global politics and market. Mulling through apparently useless articles and channels (maybe there isn't the NORM)
This to will come with time and understanding.
BROKER - I CANNOT SAY TO MUCH HERE; BUT BE CAREFUL! I THINK THE BROKERAGE INDUSTRY HAS CLEANED UP ITS ACT OVER THE PAST FEW YEARS BUT I'M SURE IF I TRAWLED THE FORUM THERE WOULD STILL BE SOME HORROR STORIES.
Conclusion and process.
Looking at bigger time (Weekly/Monthly) frames determine whether the market is trending; if so where? Bullish/Bearish?
- If not, Why not? Did a news release or another market force cause the market to Range.
We draw support and resistance lines (Good Support and resistance will probably stay for many years)
(1) Market is trending - Good! These are the simpler markets in my opinion like I look for price to test large S/R if the market was Bullish and we discovered powerful RESISTANCE; I am searching for PA to confirm the BULLISH MOVE.
- Simply Conditions - Using Price Action;
Buy Highs in Bullish Trends
Sell Lows in Bearish Times
All this needs to be supported from the Trend and SUPPORT AND RESISTANCE
(2) Market is Ranging - This will generally happen when the market is indecisive; this will usually happen when large fundamental moved are about to happen. (BIG BIG MONEY IS ENTERING THE MARKET) They use ranging markets to fill liquidity issues. Which is why these ranges generally stagger slightly bullish or bearish instead of defines RANGES.
Sit; maybe work out the market forces and that palms maintain them =P
**** I hope that this helps; I will be back to wash up any typos and grammatically mistakes. I just have to attend to something****
No wonder newbies are struggling to make it in forex with that kind of expectationsOriginally Posted by ;
There are two expectations in play here, other members have touched both. The first is that there's somehow a means to consistently make incredible returns without a similarly oversized quantity of risk associated with it. If you discover somebody who will claim they can do it, this person has an agenda - the end game of which you can be assured is not likely to net you any profit.
There is an entire industry of salesmen to fulfill with the demand not of savvy investors who wish to set their funds in smart areas for growth, but to fulfill the requirements of dreamers who wish to do 0 percent work and are green enough to believe their pitch.
The second expectation here is that you can ask about, find a good system, then trade on it and make money. The issue with this egy is that if you haven't thoroughly analyzed a system on your own, its doubtful you'll have the plogical stamina to resist periods of draw-down. This ends with the trader getting from this system at a low point. If you wash an repeat that cycle, then it is inevitable that the trader will lose overall, since they always end a egy after a series of losses.
Thank you for your answer. Is that desire a big cash to achieve that goal ?Originally Posted by ;
http://www.myfxbook.com/members/FX_H...er-real/694954Originally Posted by ;