Forex

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Forex and Stock Traders that have success. I know that You won't tell me how to actually trade Your system or method, but i am just saying,....it would be a really good thing if You did. You don't know how I feel trading for 4 years, everyday, trying out differnet methods. none of them work. I'm just saying it would be a really goo dthing if You told me. I am in such stress right now, and please, don't tell me to take a break from Forex. Do You remember when You first started trading FOREX? It was really hard. And then, You found something, a secret of the Market trading. Well, I am using all differnet kinds of indicators, methods, systems, advices, and they don't work. Please, I don't want to quit with 4 years of wasted time in my life. Just send me an email....Dan7974@yahoo.com Thank You. p.s. again, I would be very happy if someone owuld help me.

Best Answer

4 years is a long time. Do you have any mentor ? Maybe you should ask around ? There are bascially 3 things in Forex you must remember. 1. Money Management. 2 Trade management 3 Trading Psychology. All 3 must work. 80% of the time traders especially novice spent 80% of their time twitching their system. Which is important. But you can get it right but nver see you Acct Equity grow. Becasue to see it grow. You need the other 2 legs, Trading psychology. And Money Management. If you have never heard of this before its time to take a "break" i know you hate to hear that word. But to jump higher you need to flex your knees and go down abit. So take a break, restrategise, do some reading, do a course, get a mentor. To break a habit takes 30 days. Its a battle out there. And its a mental battle. So behave as if you are in a battle. You are the general of your Forex Army, namely your equity. There are some resources here might help you so do take a look. And drop me a line if you need some more pointers. If i were you, start with Dr Alexander Elder's Trading for a living and Come into my Living Room. And also get the work book. But please, take a break and restrategise. Dont "revenge" trade. There is a fine line between "gambling" and "Trading". Also another fine line between "Addiction" and "Working". Whatever it is i have been there. No insult intended. http://www.geocities.com/lcming/Forexbooks http://www.geocities.com/lcming/ForexForex http://www.geocities.com/lcming/Forexsignals

Merry Christmas :), So...I am new at the forex market(for a moment I wrote foreST:)) And obviously I have several questions: 1. What to buy now? I see some people who look at the forex too "philosophically". As I said I am newbie at this market, so they can be right, but...why someone would ask about the "Eliot theory" to make money in forex when you just can read news and predictions and see the chart??? Thus, my question is not whether Eliot works or not :), but is it good to buy NZD against the USD, or against the JPY? I think thats the best deals now. 2. Is it that good??? Ofcourse forex seems very attractive to people because of the very high "leverage". In fact, I understand the "leverage" to be a credit. Ok, it's good when I win but if I lose, am i not loosing the brokers money? I guess then noone looses because when I loose, someone else succeeds...anyway you got it :) 3. Can you trust Forex.com? That's my broker ;) Thanks and have a grand new year!

Best Answer

Hi, 1. Firstly I would like to tell you that nobody could predict the market. Therefore Elliot waves together with some other technical indicators are very useful when you are making analysys for enter/exit point 2. All currency pairs are good. Some of them have higher volatility and some lower volatility. Usually traders are trading with several currency pairs that they like. 3. As you have noticed leverage could be as profitable as detrimental. For that reason traders use money risk management rules. The main rule is don't risk more than 2% of your trading funds, which is rule No.1. 4. Rule No.2 - Listen and follow the market. Trend is your friend. 5. Rule No.3 - Don't listen experts. They are paid for their speech. If their forecasts are so successful why they don't trade themselves? Trading is much more profitable than salary for making forecasts. 6. Rule No.4 - Never trust "black boxes". All of them are created by historical data. Their presentations looks very good but market is alive because traders are live personse and nobody could predict next movement of thousands live traders. 7. There are many online forex brokers. I know nothing about forex.com as brokerage company. But I don't like their trading terminal. I preffer MetaTrader 4. Trading forex is very exciting and profitable business Good luck!

In FOREX Trade, when I trade Euro-USD pair, there is ALWAYS difference of 3 points, for example if I buy, I have to buy ( for instance at )1.3144 and if I sell the same, I will have to sell at 1.3140. What this means is that the moment I buy currency. I am already down 3 points and of I have to EARN a pip, the currency must move up at least four points just to gain a pip and on the other hand I am already down 3 points the moment I enter the trade! Doesn?t this mean that the CHANCES OF MAKING MONEY ON CURRENCY TRADE ARE JUST 1 in 4 or a meager 25 percent!!!!!!!?????? I am new to FOREX trade , so can you please give me FOREX trade tips- which currency pair to trade and which not to. also highlighting the ADVANTAGES AND DISDAVANTAGES OF FOREX trading. I will appreciate SERIOUS replies. Thanks

Best Answer

HI ! Your problem is called spread. Spread is the difference between bid and ask price. Spread price depends on a brokerage company. If you wan to learn more you may want to check out some course so you wont loose more money. I suggest forexonlinecourse.com. And help with your trading check out forexonlinesignals.com.

What are the factors that drive the forex market...........and where do i get daily updated forex info....and is there any free forex advisor which specifies exactly which currency to buy and sell ???

Best Answer

I need to caution you that participating in the Forex market is not as simple as finding free sources of information and free services that would tell you what to buy and when. There is plenty of information available on the internet to teach you trading priciples and methods however you need to commit time and effort into studying and testing. There are plenty of brokers that will allow you to open a free demo account and you can sharpen your trading skills as you learn. You must keep in mind though, the Forex market place is a very risky arena. You should never invest money that you cannot afford to lose. There are strategies available that provide ways to reduce some of the market risks and take a conservative approach to Forex investing but they still take a bit of education on your part. Proceed cautiously, use demo accounts until you have proven that you can eek out a profit and then proceed cautiously again. Good luck

sometime the rate of banks increase but the market go against it .. why

Best Answer

depend on that day H.