Showing posts with label forex trading strategies. Show all posts
Showing posts with label forex trading strategies. Show all posts
what is the best forex trading strategy?
Posted by Ryanita
on
Tuesday, June 24, 2014
, under
forex trading strategies
|
comments (2)
The Butter
i want to know a proven strategy for forex trading (swing or long time) and will appreciate if it's from a pro trader.
thanks
Answer
www.FXCM.com
http://www.babypips.com/
Here is a couple good videos to watch,
http://www.forex.com/forex-seminars-developing-listen.html
http://www.forex.com/forex-seminars-developing2-listen.html
Here is a squido site for fxbootcamp that has several good video, if youll take the time to watch these you can learn a lot.
http://www.squidoo.com/fxbootcamp/
I like Oanda for a starting broker because you can trade with as little as 1 cent a pip on the line, of course youll only be making 1 cent a pip. then as you improve you can step it up a penny or a dime or what ever.
The only bad thing about them is 50:1 leverage and there spread gets very wide during news times.
I also agree with babypips good site.
a short but very good ebook
http://www.robbooker.com/books/Strategy10.pdf
Here is a good site to learn about the indicators. Just look all over it.
http://www.investopedia.com/university/movingaverage/default.asp
Use Oanda as a demo account. It doesn't expire so you will have as long as you need to practice.
http://fxgame.oanda.com
check out this guy: http://www.robbooker.com/
www.FXCM.com
http://www.babypips.com/
Here is a couple good videos to watch,
http://www.forex.com/forex-seminars-developing-listen.html
http://www.forex.com/forex-seminars-developing2-listen.html
Here is a squido site for fxbootcamp that has several good video, if youll take the time to watch these you can learn a lot.
http://www.squidoo.com/fxbootcamp/
I like Oanda for a starting broker because you can trade with as little as 1 cent a pip on the line, of course youll only be making 1 cent a pip. then as you improve you can step it up a penny or a dime or what ever.
The only bad thing about them is 50:1 leverage and there spread gets very wide during news times.
I also agree with babypips good site.
a short but very good ebook
http://www.robbooker.com/books/Strategy10.pdf
Here is a good site to learn about the indicators. Just look all over it.
http://www.investopedia.com/university/movingaverage/default.asp
Use Oanda as a demo account. It doesn't expire so you will have as long as you need to practice.
http://fxgame.oanda.com
check out this guy: http://www.robbooker.com/
What Is The Best Forex Trading Strategy?
Hannah
I am in complete information overload and looking to find recommendations from experienced traders.
Please do answer, I am looking forward to some pro Forex traders. If you are trading Forex for a living it would be awesome to here your advice. Please help and give good info.
Answer
I can really relate to you as this reminds me of the time when
I started Forex Trading. See, Forex Trading is not all it is cracked up
to be.
All the brokers are advertising this quick money making skim,
open an account with $50 and make big money and other stuff that's
not true.
My advice is to find a good Forex forum or group that teaches
Forex newbies. I know a lot of people that are Forex indicators
worshipers, but I don't pay much attention to all that hype.
Most of the times indicators are just used by the broker as a
training tool or just to fill up their Forex training section.
In reality most of the indicators are lugging and are not
timely on the market.
Your Forex broker loves them as the indicators make you
pretty predictable. For example let's say the Forex broker is
propagating a indicator. This indicator is calling for buying
or selling when such and such lines are crossing. The indicator
is also calling shorts when the lines are crossing backwards.
This makes you very predictable and helps the broker to
execute in the opposite direction.
By the way it is not a secret, that the broker sits on the opposite
side of your trade, especially if the broker is not a ECN broker
and is not a price maker.
Forex Market is huge, but for a retail Forex Trader like yourself,
the market is only as big as your broker.
One more thing to be very careful is not to trade the news.
A lot of those Scam Forex Brokers are widening the spread
during news times. You will be surprised, but some of them
are going as far as 90pips spread. See, the broker looses
control during the news trading due to very high volumes
and the only way to control is to take you out of the game
with a wide spread.
I have even seen my stops taken before my entry, now that's
a roller coaster Forex.
The best Forex trading strategy for me is a Price Action Forex
strategy. Forex Support and Resistance strategy, Fibonacci Forex
strategy, Big Numbers Areas Forex Strategy.
For a Forex newbie, since I get asked a lot, I have found this
program to be pretty effective.
In any case take all the advice you can and good luck with your
Forex trading.
I can really relate to you as this reminds me of the time when
I started Forex Trading. See, Forex Trading is not all it is cracked up
to be.
All the brokers are advertising this quick money making skim,
open an account with $50 and make big money and other stuff that's
not true.
My advice is to find a good Forex forum or group that teaches
Forex newbies. I know a lot of people that are Forex indicators
worshipers, but I don't pay much attention to all that hype.
Most of the times indicators are just used by the broker as a
training tool or just to fill up their Forex training section.
In reality most of the indicators are lugging and are not
timely on the market.
Your Forex broker loves them as the indicators make you
pretty predictable. For example let's say the Forex broker is
propagating a indicator. This indicator is calling for buying
or selling when such and such lines are crossing. The indicator
is also calling shorts when the lines are crossing backwards.
This makes you very predictable and helps the broker to
execute in the opposite direction.
By the way it is not a secret, that the broker sits on the opposite
side of your trade, especially if the broker is not a ECN broker
and is not a price maker.
Forex Market is huge, but for a retail Forex Trader like yourself,
the market is only as big as your broker.
One more thing to be very careful is not to trade the news.
A lot of those Scam Forex Brokers are widening the spread
during news times. You will be surprised, but some of them
are going as far as 90pips spread. See, the broker looses
control during the news trading due to very high volumes
and the only way to control is to take you out of the game
with a wide spread.
I have even seen my stops taken before my entry, now that's
a roller coaster Forex.
The best Forex trading strategy for me is a Price Action Forex
strategy. Forex Support and Resistance strategy, Fibonacci Forex
strategy, Big Numbers Areas Forex Strategy.
For a Forex newbie, since I get asked a lot, I have found this
program to be pretty effective.
In any case take all the advice you can and good luck with your
Forex trading.
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best forex trading strategy?
Posted by Ryanita
on
Friday, April 11, 2014
, under
forex trading strategies
|
comments (0)
maytham
what is the best forex trading strategies?
Answer
You mean, like, the Holy Grail of financial strategies, the pot at the end of the rainbow, the road to easy street, in one simple Answer? Like fortune telling?
Doesn't exist any more than the Easter Bunny, even though the rumors persist.
If someone had The Answer, why would they give it away?
You realize, the more popular a strategy or indicator or trading system becomes, the more it comes under attack and may stop working altogether. The ones that work "best" for you are the ones that match your trading style, time frame, account balance, stress level, availability, etc.
The strategies that work best are good money management, good risk control, and an iron discipline to the strategies that make up your Trading Plan.
You mean, like, the Holy Grail of financial strategies, the pot at the end of the rainbow, the road to easy street, in one simple Answer? Like fortune telling?
Doesn't exist any more than the Easter Bunny, even though the rumors persist.
If someone had The Answer, why would they give it away?
You realize, the more popular a strategy or indicator or trading system becomes, the more it comes under attack and may stop working altogether. The ones that work "best" for you are the ones that match your trading style, time frame, account balance, stress level, availability, etc.
The strategies that work best are good money management, good risk control, and an iron discipline to the strategies that make up your Trading Plan.
What is the best profitable forex trading strategy?
pauedd
Answer
1. Traders often look for an edge in the financial markets so they can consistently earn profits through buying and selling of financial instruments.
2. In the case of the foreign exchange market, or forex, these instruments are foreign currencies. In forex, you speculate on fluctuating exchange rates. The market is particularly fast and volatile, and any trading strategy requires much discipline. One profitable forex trading strategy involves trend analysis to maximize rewards while minimizing risks.
3. Trend Identification
Before you can trade a trend, you must first be able to identify one.
4. Entry
Trend trading means you trade in the direction of the trend.
5.Exit for Profit
When the strategy works, you can exit the trade in many ways. Some traders take an immediate profit and sell the entire position before volatility moves against them. Others wait for the prices to take out the previous high, in the case of an up trend, or the previous low, in the case of a down trend. Others "scale out" by selling part of the position immediately, then holding onto the rest and gradually liquidating the position as it becomes more and more profitable.
7. Risk Management
One of the significant advantages of the trend-line trading strategy is the clarity it affords you when considering the risks. If prices retreat to the trend line and do not bounce off it, and instead push through the trend line, then the trend may no longer be intact. If you wait to enter the trend at the trend line, then your risk is minimal and you exit for a small loss as soon as prices move past this point. Since your rewards are much greater than your losses in this strategy, you have a good chance of being profitable over time.
8. Please Read more: http://www.ehow.com/info_8126558_profitable-forex-trading-strategy.html#ixzz2ZbJsdPTx
.
.
1. Traders often look for an edge in the financial markets so they can consistently earn profits through buying and selling of financial instruments.
2. In the case of the foreign exchange market, or forex, these instruments are foreign currencies. In forex, you speculate on fluctuating exchange rates. The market is particularly fast and volatile, and any trading strategy requires much discipline. One profitable forex trading strategy involves trend analysis to maximize rewards while minimizing risks.
3. Trend Identification
Before you can trade a trend, you must first be able to identify one.
4. Entry
Trend trading means you trade in the direction of the trend.
5.Exit for Profit
When the strategy works, you can exit the trade in many ways. Some traders take an immediate profit and sell the entire position before volatility moves against them. Others wait for the prices to take out the previous high, in the case of an up trend, or the previous low, in the case of a down trend. Others "scale out" by selling part of the position immediately, then holding onto the rest and gradually liquidating the position as it becomes more and more profitable.
7. Risk Management
One of the significant advantages of the trend-line trading strategy is the clarity it affords you when considering the risks. If prices retreat to the trend line and do not bounce off it, and instead push through the trend line, then the trend may no longer be intact. If you wait to enter the trend at the trend line, then your risk is minimal and you exit for a small loss as soon as prices move past this point. Since your rewards are much greater than your losses in this strategy, you have a good chance of being profitable over time.
8. Please Read more: http://www.ehow.com/info_8126558_profitable-forex-trading-strategy.html#ixzz2ZbJsdPTx
.
.
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What Is The Best Forex Trading Strategy?
Posted by Ryanita
on
Saturday, December 14, 2013
, under
forex trading strategies
|
comments (0)
forex trading strategies
image
Hannah
I am in complete information overload and looking to find recommendations from experienced traders.
Please do answer, I am looking forward to some pro Forex traders. If you are trading Forex for a living it would be awesome to here your advice. Please help and give good info.
Answer
I can really relate to you as this reminds me of the time when
I started Forex Trading. See, Forex Trading is not all it is cracked up
to be.
All the brokers are advertising this quick money making skim,
open an account with $50 and make big money and other stuff that's
not true.
My advice is to find a good Forex forum or group that teaches
Forex newbies. I know a lot of people that are Forex indicators
worshipers, but I don't pay much attention to all that hype.
Most of the times indicators are just used by the broker as a
training tool or just to fill up their Forex training section.
In reality most of the indicators are lugging and are not
timely on the market.
Your Forex broker loves them as the indicators make you
pretty predictable. For example let's say the Forex broker is
propagating a indicator. This indicator is calling for buying
or selling when such and such lines are crossing. The indicator
is also calling shorts when the lines are crossing backwards.
This makes you very predictable and helps the broker to
execute in the opposite direction.
By the way it is not a secret, that the broker sits on the opposite
side of your trade, especially if the broker is not a ECN broker
and is not a price maker.
Forex Market is huge, but for a retail Forex Trader like yourself,
the market is only as big as your broker.
One more thing to be very careful is not to trade the news.
A lot of those Scam Forex Brokers are widening the spread
during news times. You will be surprised, but some of them
are going as far as 90pips spread. See, the broker looses
control during the news trading due to very high volumes
and the only way to control is to take you out of the game
with a wide spread.
I have even seen my stops taken before my entry, now that's
a roller coaster Forex.
The best Forex trading strategy for me is a Price Action Forex
strategy. Forex Support and Resistance strategy, Fibonacci Forex
strategy, Big Numbers Areas Forex Strategy.
For a Forex newbie, since I get asked a lot, I have found this
program to be pretty effective.
In any case take all the advice you can and good luck with your
Forex trading.
I can really relate to you as this reminds me of the time when
I started Forex Trading. See, Forex Trading is not all it is cracked up
to be.
All the brokers are advertising this quick money making skim,
open an account with $50 and make big money and other stuff that's
not true.
My advice is to find a good Forex forum or group that teaches
Forex newbies. I know a lot of people that are Forex indicators
worshipers, but I don't pay much attention to all that hype.
Most of the times indicators are just used by the broker as a
training tool or just to fill up their Forex training section.
In reality most of the indicators are lugging and are not
timely on the market.
Your Forex broker loves them as the indicators make you
pretty predictable. For example let's say the Forex broker is
propagating a indicator. This indicator is calling for buying
or selling when such and such lines are crossing. The indicator
is also calling shorts when the lines are crossing backwards.
This makes you very predictable and helps the broker to
execute in the opposite direction.
By the way it is not a secret, that the broker sits on the opposite
side of your trade, especially if the broker is not a ECN broker
and is not a price maker.
Forex Market is huge, but for a retail Forex Trader like yourself,
the market is only as big as your broker.
One more thing to be very careful is not to trade the news.
A lot of those Scam Forex Brokers are widening the spread
during news times. You will be surprised, but some of them
are going as far as 90pips spread. See, the broker looses
control during the news trading due to very high volumes
and the only way to control is to take you out of the game
with a wide spread.
I have even seen my stops taken before my entry, now that's
a roller coaster Forex.
The best Forex trading strategy for me is a Price Action Forex
strategy. Forex Support and Resistance strategy, Fibonacci Forex
strategy, Big Numbers Areas Forex Strategy.
For a Forex newbie, since I get asked a lot, I have found this
program to be pretty effective.
In any case take all the advice you can and good luck with your
Forex trading.
Can anyone help me program a forex trading algorithmic strategy for use in ACTFX ?
The Legend
I need someone to help me program an auto trading strategy for use according to ACTFX programing, consisting of the hammer, hangman candlestick patterns, they have one on the site but I want one which open a buy/sell position only after a confirming candle next to the hammer/hangman pattern.
Or if you know how I can edit the existing strategy , that would help too
Thank you very much in advance
Answer
there are many kinds of trading features in forex you better have a search on trading the source which is given below if you are well determined you can figure it out whats gonna be are you up to the challange!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
there are many kinds of trading features in forex you better have a search on trading the source which is given below if you are well determined you can figure it out whats gonna be are you up to the challange!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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What is forex trading? how does it differ from normal stock market trading?
Posted by Ryanita
on
Monday, December 2, 2013
, under
forex trading strategies
|
comments (0)
forex trading strategies
image
Richard
What is forex trading? how does it differ from normal stock market trading?
Are the risk and strategies different? Can forex be more profitable?
Answer
Hello Richard,
Well Forex trading, is the simultaneous buying of one currency and selling of another at current prices. For example, buying Gbp/Usd means buying the pound and at the same time selling the dollar, a very simple concept indeed. Currencies as the above are traded in pairs mainly on the interbank (banks) and retail (private traders) market.
Common terms used:
- FX trading
- spot forex
The four major currencies are the Eur/Usd, Gbp/Usd, Usd/Jpy and Usd/Chf. You can easily find your trade among one of those currencies day in day out.
Here are the main differences:
- Market Performance. More volatility in the Currency market making market very liquid
- Low Transaction costs
- Market Transparency
- Trending Market
- No uptick rule
- No bear Market (when one currency goes down the other one is appreciating in value)
Also the leverage in forex is much higher and you need a very small start up capital to get a feel of the currency market. Stock market many a times has a major effect on some currency pairs such as USD and JPY. Using the data of some major stock can to some extent predict the moves in the USD and YEN pairs.
The strategies are the same in many cases. However due to the high liquidity and volatility of the currency pair, you will get far more action in the forex market than the stock market.
I hope that helps if you need any more info you may have a look at the following website www.forex-trading-domain.com
Best of luck
Hello Richard,
Well Forex trading, is the simultaneous buying of one currency and selling of another at current prices. For example, buying Gbp/Usd means buying the pound and at the same time selling the dollar, a very simple concept indeed. Currencies as the above are traded in pairs mainly on the interbank (banks) and retail (private traders) market.
Common terms used:
- FX trading
- spot forex
The four major currencies are the Eur/Usd, Gbp/Usd, Usd/Jpy and Usd/Chf. You can easily find your trade among one of those currencies day in day out.
Here are the main differences:
- Market Performance. More volatility in the Currency market making market very liquid
- Low Transaction costs
- Market Transparency
- Trending Market
- No uptick rule
- No bear Market (when one currency goes down the other one is appreciating in value)
Also the leverage in forex is much higher and you need a very small start up capital to get a feel of the currency market. Stock market many a times has a major effect on some currency pairs such as USD and JPY. Using the data of some major stock can to some extent predict the moves in the USD and YEN pairs.
The strategies are the same in many cases. However due to the high liquidity and volatility of the currency pair, you will get far more action in the forex market than the stock market.
I hope that helps if you need any more info you may have a look at the following website www.forex-trading-domain.com
Best of luck
What do i need to have before i could set up a company and sell forex trading alerts to customers?
hunterz
Apart from having a good strategy and money for initial setup, what do i need to have before i could set up an online company in Singapore and sell forex trading alerts to customers?
Any licences? Qualifications?
Cheers!
Answer
Good Luck With that one , you will need to be able to compete with the Best of the Best as of right now forex ring leader is considered the top Forex Signal alert Company and has been around for about 3 years and has never lost a month yet! Then youâre going to have to be able to beat there minimum pip guarantee of 350 pips per month or the next month is free. Last time I check there where giving out free trials still.
Then youâre going to need to be able to send your alerts via e-mail and âsmsâ around the world and to any country in under 5 seconds. And youâre going to need a detailed trading report that is to verify or risk being called a scam. There are a lot of alert services that pop up every month but never last long due to the stiff completion from the big guys. Before you waste your time take a look at fxringleader track record for ideas on how good youâre going to need to be. And whatever you do when you build a new alert site NEVER post a fake trading history. Itâs easy to detect and you will be out of business fast.
This is the current trading report: http://www.fxringleader.com/PastAlerts/View_All_Reports/index.html
Good Luck With that one , you will need to be able to compete with the Best of the Best as of right now forex ring leader is considered the top Forex Signal alert Company and has been around for about 3 years and has never lost a month yet! Then youâre going to have to be able to beat there minimum pip guarantee of 350 pips per month or the next month is free. Last time I check there where giving out free trials still.
Then youâre going to need to be able to send your alerts via e-mail and âsmsâ around the world and to any country in under 5 seconds. And youâre going to need a detailed trading report that is to verify or risk being called a scam. There are a lot of alert services that pop up every month but never last long due to the stiff completion from the big guys. Before you waste your time take a look at fxringleader track record for ideas on how good youâre going to need to be. And whatever you do when you build a new alert site NEVER post a fake trading history. Itâs easy to detect and you will be out of business fast.
This is the current trading report: http://www.fxringleader.com/PastAlerts/View_All_Reports/index.html
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Can you share your simple forex trading strategy system?
Posted by Ryanita
on
Saturday, November 30, 2013
, under
forex trading strategies
|
comments (0)
forex trading strategies
image
hisoka147
If you have a simple forex trading strategy that is very easy to understand kindly share it please. No commercial products.
Answer
Asking people for a simple Forex strategy is like asking people if they have a simple method for playing poker that will allow you to win playing poker experts. There is no simple Forex strategy that works.
Forex is what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game using a "simple" strategy.
Actually Forex is not quite a zero sum game. It's a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It's a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap . com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you.
I would recommend not trying to do Forex at all, unless you are a trained professional. It's like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
Asking people for a simple Forex strategy is like asking people if they have a simple method for playing poker that will allow you to win playing poker experts. There is no simple Forex strategy that works.
Forex is what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game using a "simple" strategy.
Actually Forex is not quite a zero sum game. It's a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It's a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap . com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you.
I would recommend not trying to do Forex at all, unless you are a trained professional. It's like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
What is the best Forex trading strategy?
Pedro P
I want to know your Forex strategy, when to buy, when to sell, when to wait.
Answer
You're in for a big, rude surprise..... there is no such thing. Day Trading Forex, Stocks etc can take 3-5 years to master.... assuming you're not one of the 95% that fail within the first year.
To believe someone could pass this type of information on to you via Yahoo Answers means you've got a lot to learn. Trading is an art & a science. Two of the most important factors are psychology and trading money management. Technical Analysis is less than 50% of the "formula".
Two of the most well known FX Traders wrote a book titled;
Millionaire Traders
This book by Kathy Lein & Boris Schlossberg will be the start of many books you'll need to read...... Start here... so you at least get a sense of what you're up against.
http://www.amazon.com/Millionaire-Traders-Everyday-People-Beating/dp/0470452544/ref=sr_1_1?s=books&ie=UTF8&qid=1299186948&sr=1-1
You're in for a big, rude surprise..... there is no such thing. Day Trading Forex, Stocks etc can take 3-5 years to master.... assuming you're not one of the 95% that fail within the first year.
To believe someone could pass this type of information on to you via Yahoo Answers means you've got a lot to learn. Trading is an art & a science. Two of the most important factors are psychology and trading money management. Technical Analysis is less than 50% of the "formula".
Two of the most well known FX Traders wrote a book titled;
Millionaire Traders
This book by Kathy Lein & Boris Schlossberg will be the start of many books you'll need to read...... Start here... so you at least get a sense of what you're up against.
http://www.amazon.com/Millionaire-Traders-Everyday-People-Beating/dp/0470452544/ref=sr_1_1?s=books&ie=UTF8&qid=1299186948&sr=1-1
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What is the best forex trading strategy?
Posted by Ryanita
on
Saturday, November 23, 2013
, under
forex trading strategies
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comments (0)
forex trading strategies
image
I have been reading about trading forex but I am unsure about the strategy I should be using. I have read about so many different strategies and they all claim to be the best and easiest. I was just wondering if anybody had any real experience trading forex that could recommend a good strategy to start out with.
Answer
If you are a beginner, i suggest you to use Marketiva, which is a very good platform to start trading with and very easy to use.
Marketiva gives you 5$ real to start trading so you don't have to deposit and if you made profit from it you can cash out, this is why it's very good for beginners. Their platform is very easy to use and they have support during trading hours for your questions, doubts etc.
They also have chat channels where you can talk, exchange opinions and ideas with traders of your country or international traders.
To open your account please visit http://www.marketiva.com/index.ncre?gid=3371
If you are a beginner, i suggest you to use Marketiva, which is a very good platform to start trading with and very easy to use.
Marketiva gives you 5$ real to start trading so you don't have to deposit and if you made profit from it you can cash out, this is why it's very good for beginners. Their platform is very easy to use and they have support during trading hours for your questions, doubts etc.
They also have chat channels where you can talk, exchange opinions and ideas with traders of your country or international traders.
To open your account please visit http://www.marketiva.com/index.ncre?gid=3371
what is the best forex trading strategy?
The Butter
i want to know a proven strategy for forex trading (swing or long time) and will appreciate if it's from a pro trader.
thanks
Answer
www.FXCM.com
http://www.babypips.com/
Here is a couple good videos to watch,
http://www.forex.com/forex-seminars-developing-listen.html
http://www.forex.com/forex-seminars-developing2-listen.html
Here is a squido site for fxbootcamp that has several good video, if youll take the time to watch these you can learn a lot.
http://www.squidoo.com/fxbootcamp/
I like Oanda for a starting broker because you can trade with as little as 1 cent a pip on the line, of course youll only be making 1 cent a pip. then as you improve you can step it up a penny or a dime or what ever.
The only bad thing about them is 50:1 leverage and there spread gets very wide during news times.
I also agree with babypips good site.
a short but very good ebook
http://www.robbooker.com/books/Strategy10.pdf
Here is a good site to learn about the indicators. Just look all over it.
http://www.investopedia.com/university/movingaverage/default.asp
Use Oanda as a demo account. It doesn't expire so you will have as long as you need to practice.
http://fxgame.oanda.com
check out this guy: http://www.robbooker.com/
www.FXCM.com
http://www.babypips.com/
Here is a couple good videos to watch,
http://www.forex.com/forex-seminars-developing-listen.html
http://www.forex.com/forex-seminars-developing2-listen.html
Here is a squido site for fxbootcamp that has several good video, if youll take the time to watch these you can learn a lot.
http://www.squidoo.com/fxbootcamp/
I like Oanda for a starting broker because you can trade with as little as 1 cent a pip on the line, of course youll only be making 1 cent a pip. then as you improve you can step it up a penny or a dime or what ever.
The only bad thing about them is 50:1 leverage and there spread gets very wide during news times.
I also agree with babypips good site.
a short but very good ebook
http://www.robbooker.com/books/Strategy10.pdf
Here is a good site to learn about the indicators. Just look all over it.
http://www.investopedia.com/university/movingaverage/default.asp
Use Oanda as a demo account. It doesn't expire so you will have as long as you need to practice.
http://fxgame.oanda.com
check out this guy: http://www.robbooker.com/
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