Is it a shame not to know how to make money in the forex market after 8 years of experience? - page 9
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In the forex market you cannot apply primitive strategies which, in spite of their primitiveness, still work on the stock market.
Why not? Everything is possible. The difference is that in forex, trends that can bring in large sums of money (at the expense of leverage) last for hours or days. During this time there may be 1000-4000 pips, as for example on the Aussie and Canadian last week. On the stock market, due to the fact that the leverage is not present or is small there, you need to wait months or years.
But in forex there are also multi-month trends, see https://www.mql5.com/ru/forum/371224
Why not? Anything is possible.
Try it. :)
Buy a euro-dollar pair and according to the "buy and hold" strategy hold it for a very long time. And not for a day or two, or a week or a month, but for a year or more.
Then "buy cheap - sell expensive", how do you do it with currency pairs? And by "buy cheap - sell expensive" you mean not buying when the price goes down, but buying when the market value of the company is cheaper than its real (fair) value. Many different methodologies are used to estimate the fair value of a company. But these techniques do not apply to currencies. Buffett's teacher himself, Benjamin Graham, used the "buy low, sell high" principle to buy up entire companies.
Try it. :)
Buy a euro-dollar pair and according to the "buy and hold" strategy hold it for a very long time. And not for a day or two, or a week or a month, but for a year or more.
Then, "buy low - sell high", how do you do it with currency pairs? And by "buy cheap - sell expensive" you mean not buying when the price goes down, but buying when the market value of the company is cheaper than its real (fair) value. Many different methodologies are used to estimate the fair value of a company. But these techniques do not apply to currencies. Buffett's teacher Benjamin Graham himself used the "buy low, sell high" principle to buy up entire companies.
I've added texts to my post with explanations. As you can see, the euro can be held for a year and the profits will pour in steeply.
Added text to my post with explanations. As you can see, the euro can be held for at least a year and the profits will pour in steeply.
OK, let's say you've convinced me. There are also long-term trends on currencies for several years. This is called a carry trade. And it happens when one country raises or lowers its interest rate sharply against the dollar. But it doesn't help you a bit. For eight years you have been learning how to make money by speculative trading. Think about it, maybe speculation is not for you. I'm not suggesting you go to a factory :) Maybe you should go into longer term trading without using margin lending. What you have seen on the Aussie and Canadian is all history and I take it you haven't made any money on it. On the fund too, stocks can run more than 10% in a day. Judging by your posts written earlier you are only losing your money in pursuit of big profits. Try saving your money for starters.
OK, let's say you've convinced me. Currencies also have long-term trends of several years. This is called a carry trade. And it happens when one country raises or lowers its interest rate sharply against the dollar. But that doesn't help you at all. For eight years you have been learning how to make money by speculative trading. Think about it, maybe speculation is not for you. I'm not suggesting you go to a factory :) Maybe you should go into longer term trading without using margin lending. What you have seen on the Aussie and Canadian is all history and I take it you haven't made any money on it. On the fund too, stocks can run more than 10% in a day. Judging by your posts written earlier you are only losing your money in pursuit of big profits. Try saving that money for starters.
Well, on the Aussie I took profits, but pissed to keep on and ended up losing. My main problem that prevents me from earning is not taking profits. Asked about it here before.
I take few profits as I am afraid it will leak out - as a result my losses outweigh my profits and I am drained.
What's not to like about working in a factory and making a steady profit?
What was your reason for quitting and going into forex?
Well, on the Aussie I took profits, but pissed on holding on and ended up missing out. My main problem, which prevents me from earning, is not taking profits. Asked about it here before.
I take few profits as I'm afraid it will leak out - as a result my losses outweigh my profits and I plummet.
Well, why do you do that? Livermore clearly said: let the profits flow. Just follow his advice, it's all clear how to do it.
What's not to like about working in a factory and making a steady profit?
What was your reason for quitting and going into forex?
Well, why would you do that? Livermore clearly said: let the profits flow. Just follow his advice, it's all clear how to do it.
Well, on the Aussie I took profits, but pissed on holding on and ended up missing out. My main problem, which prevents me from earning, is not taking profits. Asked about it here before.
I take few profits as I'm afraid it will leak out - in the end my losses outweigh my profits and I plummet.
Try at the moment when you "pissed" to close part of a position and take the rest to Breakeven and hold.