how to earn money in online trading?
Friday, February 14, 2014
, Posted by Ryanita at 7:00 AM
srinivasra
Answer
Here is some unorthodox forex trading strategies:
1. The Sidus Method
2. Murrey Math
3. 4 Hour MACD Strategy
4. Mouteki System
http://tradinglib.com/category/trading-strategies
Here is some unorthodox forex trading strategies:
1. The Sidus Method
2. Murrey Math
3. 4 Hour MACD Strategy
4. Mouteki System
http://tradinglib.com/category/trading-strategies
Success in Forex? is it possible?
Tristan
have u been successful in forex? what it takes to be successful? i am begiiner trader in forex.
Answer
I've lost in forex, but I've only just started and I've learnt some important lessons already. Here's my experience:
1. I bought too high. I bought AUD at 1.02. WIthin a day it fell to 1.01, and within a few more days it was down to .97. I was kicking myself for buying so high, because a week earlier it was only .91 and I thought it would keep rising to 1.10. I'm sure it will reach 1.10 when the financial panic settles, but I bought with leverage so I can't afford risking huge price fluctuations.
2. I wanted to buy more when it fell to a bargain price (eg. at .96), by my money was stuck in my 1.02 buy so I couldn't do anything until it rose to 1.02.
3. I ended up selling at a loss of 1.005.
4. Another reason I lost was because I changed my trade strategy after buying. If you have lots of time and have an undervalued currency then you don't have to worry, it'll go up eventually even if it takes a few years. But if you're going to trade on a daily basis then you'll see how many opportunities you've lost while you're seeing it fluctuate at ridiculously low prices while you're stuck too high to be able to sell it.
5. Stick to an undervalude currency. The GBP and AUD are still very cheap buys at the moment if you're in it for the long-run.
6. If you're buying for the short-term, observe the market for a few days to see how much it tends to moves and at what times. I've noticed the AUD moves in the same way as the world's stocks, mainly around the morning of EST.
7. Forex still has risks because it can drop a very large amount unexpectedly (AUD has dropped 30% in value over the past few months). But it won't drop as far as stocks, it's the world's most liquid market (24 hours a day, 5 days a week), and you're buying money which you can always use.
8. Being a 24-hour market, there are plenty more buying and selling opportunities than stocks. But it also means whenever you're away from the computer, anything could happen and you might miss opportunities or find yourself in a great loss. I went to sleep with the value being 0.98, I woke up a few hours later and it was 1.003. It's impossible to be up 24-hours a day, but it also gives you plenty more buying and selling opportunities too.
9. Forex is usually done using lverage. If you do leverage of 1:20, you can put in $5,000 and you've given $100,000 to play with. If you have two currencies that are approximately 1:1, each time you sell by 0.005 or 0.5% rise you'll get approx. $500 (less commissions). Sometimes this only take a minute to achieve.
10. I prefer forex to stocks. The gains are less but the risks are also less.
11. Be patient before throwing your money in, unless a currency's at a ridiculous low that you know must go up. Spend a few days observing and you'll figure out yourself how the whole thing works.
I've lost in forex, but I've only just started and I've learnt some important lessons already. Here's my experience:
1. I bought too high. I bought AUD at 1.02. WIthin a day it fell to 1.01, and within a few more days it was down to .97. I was kicking myself for buying so high, because a week earlier it was only .91 and I thought it would keep rising to 1.10. I'm sure it will reach 1.10 when the financial panic settles, but I bought with leverage so I can't afford risking huge price fluctuations.
2. I wanted to buy more when it fell to a bargain price (eg. at .96), by my money was stuck in my 1.02 buy so I couldn't do anything until it rose to 1.02.
3. I ended up selling at a loss of 1.005.
4. Another reason I lost was because I changed my trade strategy after buying. If you have lots of time and have an undervalued currency then you don't have to worry, it'll go up eventually even if it takes a few years. But if you're going to trade on a daily basis then you'll see how many opportunities you've lost while you're seeing it fluctuate at ridiculously low prices while you're stuck too high to be able to sell it.
5. Stick to an undervalude currency. The GBP and AUD are still very cheap buys at the moment if you're in it for the long-run.
6. If you're buying for the short-term, observe the market for a few days to see how much it tends to moves and at what times. I've noticed the AUD moves in the same way as the world's stocks, mainly around the morning of EST.
7. Forex still has risks because it can drop a very large amount unexpectedly (AUD has dropped 30% in value over the past few months). But it won't drop as far as stocks, it's the world's most liquid market (24 hours a day, 5 days a week), and you're buying money which you can always use.
8. Being a 24-hour market, there are plenty more buying and selling opportunities than stocks. But it also means whenever you're away from the computer, anything could happen and you might miss opportunities or find yourself in a great loss. I went to sleep with the value being 0.98, I woke up a few hours later and it was 1.003. It's impossible to be up 24-hours a day, but it also gives you plenty more buying and selling opportunities too.
9. Forex is usually done using lverage. If you do leverage of 1:20, you can put in $5,000 and you've given $100,000 to play with. If you have two currencies that are approximately 1:1, each time you sell by 0.005 or 0.5% rise you'll get approx. $500 (less commissions). Sometimes this only take a minute to achieve.
10. I prefer forex to stocks. The gains are less but the risks are also less.
11. Be patient before throwing your money in, unless a currency's at a ridiculous low that you know must go up. Spend a few days observing and you'll figure out yourself how the whole thing works.
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