How to beat the forex market - page 3
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Hi,
I disagree with the recommendation of using a broker without commissions. These are usually market markers and your win is their loss. I made this mistake a long time ago and you hardly have a chance on the long run with a market maker dealer. I would suggest a *real* ECN broker, the commissions are transparent and you know what you have.
The foremost way to make money through forex market is to ensure your trading. If you trade yourself, you will surely get guaranteed results. However, it may take a bit of time. But this strategy is quite favorable if you consistently follow it.
Anyway your Strategy (no matter how it looks like) - must execute. You should Plan - Do - Act. Too often traders have a good strategy but doesn't follow it
I like what you have to say .... could you tell me more.
I have been whatching the markets and it does what you say, The market makes a quick run then " Head Fakes" ..
Please share your insight
Rod
Forex formula of the Trading System (Key Points) 1) There is a market pattern you can exploit for morning reversal breakout.
2) Accumulation-during Asian session the high and low of the day is set. Positions get built during this time.
3) Stop hunt- false moves against the real direction. Traders jump in and get trapped.
4) The true trend is slow and steady and takes several hours to cap off.
5) End of day- off of high/low back into consolidation where traders get trapped in consolidation paying rollover.
6) They will burn your account and punish you. This is why you should not trade with the retail traders. Try to pay attention to your charts and watch those breakouts from the range..........these are the moves that trap the herd. When the W or M forms-enter going the opposite way.
7) Never trade in the middle of the range. Short off the top of the range(daily high) or go long off the bottom of the range(daily low).
8) You must watch for the M and W formations near the high and lows for these moves. The cycle begins and ends with consolidation usually in the middle of the range where they can keep the buyers and sellers trapped until they come get your stops.
9) Choppy days are created on pairs to handle the crosses. Market makers work the entire board by moving or holding a major pair. This is how they cause fractional disparity.
I am following these three points mentioned in your article:
2. USE a dealer with no comission
3. Use good exit strategies in winning trades (take profits)
4. Use wider stop trading.
I am following these three points mentioned in your article: 2. USE a dealer with no comission3. Use good exit strategies in winning trades (take profits)4. Use wider stop trading.
I also agree with you. Use the same strategy but with signal providers, instead of manual trading.
imo, the best way to beat the market is by differentiate with as many proper signals(or positions or anti-correlated pairs) one can add - this way when things go robust (and for the zulu-signals this happens quite often, I might say) the follower's portfolio is protected.
I made money all week going short on gold at marketsworld.com. Next week though I will go long, choosing a higher option on gold for the end of the month. Gold was too high and its fall to the lower end of its previous range was a healthy correction throughout last week but especially Wednesday when it plunged. It belongs around $1,700 to $1,720 where it is now, not up at the $1,800 mark others had predicted. It will now begin to increase in value at normal rates of 5-10% per annum. A call binary option for the end of the month of March calling for gold to be higher and oil lower are my personal picks. Oil has no business above the $100 mark. I use markets world to achieve 95% profit and no commissions. If there is a better binary options site I've yet to find it!
oilfxpro, look my friend, the market is changing and you are referring to a thing which was written a few years ago. I do still believe that a big part of it is still valid, but the fx business trend has changed a lot especially in the last year. We have seend the rise of EA's, automated signals, zulutrade, tradency, social trading etc...
I still do believe that the broker will always continue to maintain an edge agains the trader even in STP ECN brokers where the markup spread is the edge and the broker will always make money.
To sum it up, as an example, I would suggest for you to read this article from Manage Forex - insights from a real trader where I think the author is still living back 5 years ago and still dreaming of the manual forex trading.
All the luck in the new venture.
From my laymen observation, the market changes constantly. I was just watching a FOREX trading video from 1985, I wish I had saved the link on YouTube. Just search for it "Forex Trading (1985)" I believe was the title video... man, amazing to see how things have changed. Always gotta stay on the bubble.