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Question: What are forex secrets?

(Posted by: dxwellcom on 2010-02-24 21:47:26)

Posted by: ☆L☼ve Addict☆™ on 2010-02-24, 23:57:47

There are many secrets but it is something that you will find out by yourself if you pop in 24 hrs for 5 days with deep research.. then you will be able to get the market emotionally and everything about it.

Posted by: Aurora on 2010-02-25, 12:32:28

That's my 5th day learning forex and i can say, read read read. buy books or download books from torrents, whatever, search, and read. learn everything about candlesticks, MACD, Oscillators, Pivot points, averages and other stuff. the biggest secret of all is, to sign up to a demo account and learn the platform and practice until u will be able to make more money than you loose. That might take a couple of months, depend how much free time you have in your daily life. I personally have all day! also, forex robots, which they do automatic trading are not a scam, they are actually good, BUT, BIG BIG BUT! , YOU NEED FIRST TO KNOW HOW TO TRADE AND THEN BUY ONE OF THESE! TO MAKE YOUR LIFE EASIER. If you don;t know how to trade , then in major changes the robot will screw up and u might loose money! Read the news, something big that can effect any currency can change everything!

Posted by: Vanesa L on 2010-02-28, 12:38:40

Hi JLuiz, What do you mean by secrets? If you are looking for a system that gives you a 100% winning trade, it doesn't exist. I use several systems together at the same time to help me decide if I should open a trade or not plus my own system to ensure a 100% wiining trade. My own system is not actually a system, I just trade conservatively. I used 0.5 lot for $10,000 account size, which generates at least $100 per day for me at 20 pips, Since my lot is small compared to my capital, I have a lot of room for he market to flactuates and eventually the market hits my target. Beside using systems, I also watch the news, because news affect the market, and my system can be affected by it. I use the system from ultimateswingtrader.com and surefiretradingchallenge.com. I find the system from ultimateswingtrader.com is more accurate, but I still use the systems from surefiretradingchallenge.com to confirm the signals. When all systems agrees on a sell or buy then I watched the news, to see what is going on in the currency market. After that, I'll look at the 1 Hour, and 4 Hour chart to see if the trend is going in the same direction. After everything is in sync, I open a trade. I only trade GBP/ USD, using 1 Hour time frame. One of the indicators that I used is using EMA 5 and EMA 13, when these two lines crosses each other I open a trade. Another indicator I use is EMA 14, apply to close, and Bollinger Bands Period= 20, Shift 2 and Deviation 2, apply to close. When the EMA crosses the middle Bollinger Bands, I open a trade. The above two indicators works 75% of the time for 20 pips to 60 pips profit, but I also use other indicators to further confirm my position. I hope this helps Good Luck