Is Forex Profitable?

[blurinvestor]

I follow commonsense for example there will be news out from China this weekend hence I don't touch AUD pairs. But will be watching 0.724X.

 

[blurinvestor]

Some of the news that help me -
http://www.forexlive.com/
I only follow these 2 guys - Adam Button and Eamonn Sheridan

follow the news or opinions:

make your own assessment about China economy condition.
this requires you to read news

Look at the chart (price movement) then LOOK TO THE LEFT.

Make a call - Buy or Sell

hit the button, turn off the computer, let price movement to the rest.

 

[zacattack]

Who here uses fibbonacci as a study to predict price movement? Is it accurate? And if so, what's the percentage?

Sent from Huawei NEXUS 6P using GAGT

 

[blurinvestor]

let see how it goes before 7 june.

7 June is Australia rate hike decision.

 

[lchunl001]

let see how it goes before 7 june.

7 June is Australia rate hike decision.

what currency pair is it? curious, what your leverage ratio like ?

 

[blurinvestor]

what currency pair is it? curious, what your leverage ratio like ?

AUDUSD. Careful Aussie rate cut on the table, trade with care. Look at the price level.

 

[blurinvestor]

Option contract and price movement -

after GMT14:00 price shoot up

It is good to have some knowledge about option contract.

FOMC is next

 

[wahkao3]

Who here uses fibbonacci as a study to predict price movement? Is it accurate? And if so, what's the percentage?

Sent from Huawei NEXUS 6P using GAGT

you can easily find the answer by doing a statistical backtest

 

[blurinvestor]

Hawkish FOMC - 83 pips down

more news from Down Under at 9.30am

Hence, many traders avoid trading during news else might see stars if you are caught at the wrong side

 

[zacattack]

you can easily find the answer by doing a statistical backtest

I want to ask from people who are currently using it and not from backtesting. Past performance never guarantees future performance.

Sent from Huawei NEXUS 6P using GAGT

 

[blurinvestor]

Simple mapping and expectation

could be a double whammy?

triple whammy Brexit?

if so Europe goes haywire and triggers worldwide equities panic

June is drawing near, sometimes it is better to sit tight and do nothing.

This is just my personal opinion, I am still learning.

 

[RrgG31]

A senior banker once told me that 80% of people who trade forex end up losing money. Dont know how true. That's why I never touch forex. It does not mean u can't make money because you could be in the 20%. I think the 20% jiak the 80%?

I agree.
I have some friends-traders, most of all them losses money.

 

[microtek]

People who try forex think it's like a casino where they can easily double their money in a month. This is where they get burned. If you read a lot of books about forex, you are considered a top trader if you make 10 - 20% profit a month (And these people work for banks and investment companies). You need to think that being a day-trader is like running a business, you actually need a strategy and a money management plan. Anyway, just go to the library and borrow books on day trading. But it is true that only 20% are making money while the other 80% lose money. It's NOT easy. Just like selling insurance and being a housing agent.

 

[blurinvestor]

All opinions and questions posted here by others are valid and must be taken into serious consideration.

As for me I will continue to learn.

This is just a simple mapping hence don't take this as a signal cos I never give any.

Trade with care, don't forget or underestimate Brexit. This could trigger a domino effect.


Good luck all.

 

[blurinvestor]

look exhausted.

USDSGD map looking good at the watching point, will wait for a cheaper price at the possible extension.

 

[annarinna]

you can earn a lot and lose it instantly. the thing is..it takes really long learning curve to master fx

 

[zacattack]

you can earn a lot and lose it instantly. the thing is..it takes really long learning curve to master fx

You've mastered it? If so... Can mentor me?

Sent from Huawei NEXUS 6P using GAGT

 

[zacattack]

Are you native? Mentor you for free?
In a forum??

What you think the probability of a forumer mentor a forumer without knowing each others and best, it free!

Joker...

Hahahaha I'm native to singapore. Yes. Still waiting to join your enterprise leh fcs.

Sent from Huawei NEXUS 6P using GAGT

 

[blurinvestor]

When I look at a chart (now looking at EJ).
I take a hard look to the left of the chart, checking on congested areas.
I start to draw line on my expectation and possible extension.

Questions I asked myself -

Is it buy or sell for this pair.

If I decided to buy now can I afford the possible extension to 119.8xx.

Next question - Is it cheap to buy at this price all the way to 123.xxx.


this is some simple steps I take on each trade.

This is my trading methodology hence discretional required.

 

[Azalea]

Forex is definitely profitable with the right tools. You can see the result below. Automated trading, 38.4% returns in 52 days.

http://www.myfxbook.com/members/therobot