Hello every body;
In this thread I shall introduce you to the best system in FOREX world. I shall do this free of charge. Before I do that, please let me allow into these secrets (if I may call them):
1- FOREX trading is one big lie. It is a gambling game. No more no less. It has nothing to do with trading. Those guys out there want you to believe that, so they make as much money out of you.
2- Indicators are another big lie. This is a game driven by news and rumors, so why the hill use scientific approach to a game that has nothing to do with science.
3- Those boys and girls, who claim to have a successful system/formula, think foolishly that they have discovered the FOREX crystal ball. The fact is they are relying on crossover system (which is a part of the many components that make up their system/formula) which is really all there is to FOREX. They can discard all other components and still make the same rate of success.
4- After a while your eyes will get trained in catching good opportunities and that is due to much practice (practice makes perfect). Those boys and girls mistakenly think that the credit goes to the clever indicators they have developed. Not realizing the fact that they have spent enormous hours in front of their screens that their eyes are well trained for spotting good opportunities.
5- All you need is two simple moving averages system to alert you when the market sentiment changes. Unfortunately some times this sentiment changes very rapidly and that is why we get loosing trades.
The system: I use the following EMAs:
12/89 for 15 minutes time frame.
9/30 for 60 minutes timeframe (this is my favorites).
5/13 for daily time frames.
Enter long when the fast EMA crosses above the slow EMA. Vice versa for short.
Use the last swing high/low as your stop loss point.
Exit at the first sign of reversal.
THAT IS ALL TO IT. No need to make a simple game so complicated.
There are no hard and fast rules for exiting the position. As said before it is a gambling game. Practice those simple crosses and you will soon find out the best exit for your position.
We could make an ea out of this. Just what do u class as a first sign of a reversal?
Why those particular ma periods?
You see your telling us something that we already know, there are a million ways to enter a trade thats the easy part, infact i could sit here all night and give you so many ways to create an entry signal you will see how stupid your statement is .
It seems you do not understand the topic. Please read again.
Nothing special about them. Just trail and error.
A doji or a tweezer....Read japaneez candles please.
not far away from the truth but i would not agree totaly.
see i was long time in gambling bussines,both sides of the tables and i am in forex around 3 years and i can say if you are smart enaugh,patient,disciplined you can have some advantage in forex market.of course you can have some advantage in gambling also (bad roullete table...or something else) but it is not the same.
other way if you are stupid ,inpatient,undisciplined,uninformed (it sound like me ) then it is gambling,big gambling.
One thing what i do not understund is how they make quotes for forex,does every big bank quote bid/ask,or it is perhaps centralised (i know they say it is not centralised) ,something smell there...they are cheating to us but not always i think,news time is where we could do domething for sure but as you know in news time most brokers make big spread or even froze quotes...
few words about your system,we can trade forex in thousend ways and you can say it is random game,but think ,if lot of BIG traders are using some moving averages or pivots or fibonacci levels (and they do) then it have some influnce on the market and then it is not so random...it have some logic
Your hourly setups are not bad - try 5/35 and 10/50 as alternatives. Without it being an EA, how do you stay up 24 hours a day monitoring your systems?
EA already made
The ea is ready - please give link for doji or tweezer system - then i will implement it and post ea.
Use the cross as your stop loss point.
This is one of the funniest posts I have ever read.
I quote dr-4x: " Indicators are another big lie. This is a game driven by news and rumors, so why the hill use scientific approach to a game that has nothing to do with science.
And than he says " The system: I use the following EMAs...................."
Dr 4-x : An Ema is an INDICATOR, and an ema cross is an INDICATOR !!!
So inessence what you are saying is : all indicators are a lie , but use my Indicators system.............
Guys, avoid this - History tells us that using moving averages is good for trending market - but will kill you in a choppy market. In the long run Moving averages crosses are not enough.
The forex is though, but with proper leverage and fundamental understanding you can make money.
I would learn the basics first, avoid indicators, just learn the basics and then use indicators for Real time calculation and no more.
Slightly off the track... IMHO, It could also be debated by some that there is more Money to be made by selling services and products (such as books, seminars, systems, signals, acting as an IB/Introducer/referer etc) to Spot Foreign Exchange traders rather than being actually involved with trading the Forex markets yourself.
I will agree that money can be made, but with my honest asessment todate, it could be debated that this game is a high risk, high volitility but only mediocre reward financial vehicle and as such, I will confess that I am thinking seriously whether or not Forex trading is an investment vehicle worth including in my overall investment portfolio holistically speaking.
Presently with my analysis to-date the expected return I could hope to achieve was only around 4-15% P.A using a diversified suite of trading systems. It appears if you want anything more than mediocre gains, it is looking more and more likely that one has to have an edge, (essentially the experience) which can only be gained after many years, and I emphasize many years of trading experience I believe. Infact, it looks like you may as well just throw the money in to a diversified set of proven hedgefunds and let them do all the dirty work on your behalf while the free time which would have been spent sitting in front of a computer staring at charts, could then be used to leaverage other endeavours.
Yes, I believe a raw newbie today can become a great trader if they put their time and effort into honing their trading and mindset to be able to make instuitive and empirical decisions that give them the edge in the market, over us the masses and raw newbie trader types (with only 0-5 years of experience), but I personally believe that it is looking more and more likely that I will be able to gain financially through other opportunities in less time (but not necessarily less effort I will concede)