Is Forex Profitable?

[blurinvestor]

I scalp into the strength or weakness of a currency as a whole. I have not master the skill of scalping just 1 pair, and always amaze by how others are able to do it successfully.

To scalp EURO, I have to observe its overall strength or weakness. That means I watch for the performance of EURUSD, EURGBP, EURJPY, EURCHF, EURAUD, EURNZD, and EURCAD. Beside these I also watch the strength of USD.

Hence, scalping opportunity does not come too often and one cannot be triggered happy. Most of the time my trades are triggered by BUY/SELL stop/limit.

Would love to learn from more experience scalpers.

continue to trail my sell stop

 

[blurinvestor]

He just tweeted not long.
dump the dumbest as his best.

this will blow everything. Hence, no trade till dust settled.

 

[Bigoya]

I scalp into the strength or weakness of a currency as a whole. I have not master the skill of scalping just 1 pair, and always amaze by how others are able to do it successfully.

To scalp EURO, I have to observe its overall strength or weakness. That means I watch for the performance of EURUSD, EURGBP, EURJPY, EURCHF, EURAUD, EURNZD, and EURCAD. Beside these I also watch the strength of USD.

Hence, scalping opportunity does not come too often and one cannot be triggered happy. Most of the time my trades are triggered by BUY/SELL stop/limit.

Would love to learn from more experience scalpers.

continue to trail my sell stop

That's pretty neat.

Edit: The analysis part, is that image edited or you wrote some analysing script into MT4 or whatever program you are using?

 

[blurinvestor]

That's pretty neat.

Edit: The analysis part, is that image edited or you wrote some analysing script into MT4 or whatever program you are using?

No, it is an indicator called MA-TREND_MultiPair that combined MA and MACD.

Anyway, all indicators are lagger it just acts as visual aid. Price action on the chart is what I am looking to make decision for placing sell/buy stop/limit.

 

[blurinvestor]

amateur method for a quick market overview. The working part is understanding the flow of risk on, risk off and the unique combination of the majors and minors. (plus tweet from trump the dumbest)

he will be out before full term

EURUSD had break 1.10XXX and I did mention in another thread that once it is broken look somewhere esle cos Short Term outlook for SELL has to be reviewed.

Plus I mentioned 1.12XXX will be unlocked once political risk is cleared (France). Hence, have to remap a road map for EURUSD which at this point is difficult becos of Dump the Trumpet.

 

[blurinvestor]

scalp some into the weakness of AUD.

 

[blurinvestor]

today CHF strength but not touching it to avoid a rude shock.

I admire those who are always profitable trading these pairs EURJPY and AUDJPY. Would love to learn from them to hone my skill.

RISK OFF now. But do you know what's that means, would appreciate your input.

btw NIKKEI, S&P, and DAX dip and also look at the flow to Yen/Euro, gold, bonds, and 10 year and 30 year treasuries. Do you get the formula to be a forex trader? This formula is the way MARKET gives forward guidance. Understand this and you will be better than any eco - NO - me out there.

Again my non-sensical nonsense.

 

[blurinvestor]

EURO - do you know what is on the table - possible extension for QE.
At least get this very basic fact right before you buy eur.

 

[blurinvestor]

EURO - do you know what is on the table - possible extension for QE.
At least get this very basic fact right before you buy eur.

so now you know whether to buy or sell after the fact.

what is on the table now?
At least get this next fact right - election in britain. get this right before you press the button.

 

[blurinvestor]

so now you know whether to buy or sell after the fact.

what is on the table now?
At least get this next fact right - election in britain. get this right before you press the button.

Labour is leading at the moment plus last evening EURO QE and rate decision caused EUR to tumbled.

If you have loss big since your March call to buy both EUR and Pound, my advice to you is sit back take a chill pill.

 

[littlepinkparish]

it take years of learning curve,discipline to be profitable in forex

 

[blurinvestor]

econ-not-me 101

when a country is aggressively exporting they will push their currecy at low as possible. Example Japan -

"Exports from Japan rose 14.9 percent from the previous year to JPY 5,851.4 billion in May 2017, below expectations of a 16.1 percent gain. Still, it was the sixth straight month of increase in exports and the fastest since January 2015 as sales rose mainly for transport equipment (12.5 percent) boosted by higher shipments of motor vehicles (8.2 percent). Also, exports went up for: Machinery (17.1 percent), boosted by power generating machine (20.9 percent) and semicon machinery (25.1 percent); manufactured goods (12.4 percent), led by iron and steel products (20 percent); electrical machinery (13.6 percent); chemicals (14 percent); and others (25.8 percent).

btw do you know that accept for USDJPY. All the Yen cross will always, always want to be at the top during this exporting season, till Japan purchasing manager go out to buy raw materials then you will see a reverse.

don't happy milking according to what other traders said cause they change every seconds. Do your own research and be happy milking your own money.

 

[blurinvestor]

Can you handle the draw down?
Or do you want to be more patient?
3 time frames, most people will go with the Daily time frame.
If you can handle the draw down and have a good stop loss then you can enter now.

Or use a Buy Stop plus Stop Loss and turn off the computer.

Else be patient.

 

[wahkao3]

how do u all trade forex? i got no idea

 

[blurinvestor]

Every trade you enter, you ask the same question - Can I handle the draw down or not? Not how much can I win.

 

[blurinvestor]

how do u all trade forex? i got no idea

Hello, you are quiet good with stock analysis liao that should be enough.

 

[blurinvestor]

btw what is the trend Down or Up?

 

[wahkao3]

Hello, you are quiet good with stock analysis liao that should be enough.

learn forex also no harm

 

[blurinvestor]

Can you handle the draw down?
Or do you want to be more patient?
3 time frames, most people will go with the Daily time frame.
If you can handle the draw down and have a good stop loss then you can enter now.

Or use a Buy Stop plus Stop Loss and turn off the computer.

Else be patient.

can you see the pattern, and where I drew the lines.

 

[tiertime]

price doesnt always react to the support and resistence, sometimes u think u r at support, but then u realise theres several other supports / worse it was distribution and all along u thought it was at support and u wrongly assumed it was accumulation...

i've tried all the technical tools and failed and now finally trading based on just candlestick PA...

i started out by going through forecfactory and some forums to teach myself, I then installed the simulator on the MT4, it is quite useful, u can speed up the price chart history and buy/sell to test ur skills.. all on paper money... i tried that for a year until i thought i was ready and i funded my account USD2K (as there was a promotion deposit 2K and get additional US$500) and i finally lost it all after 7 years of further testing/trading...

cannot use it to make decent money, i just treat the loss as entertainment fee for not going to pubs and movies for past few years

could have been worse..

now all i learnt is discipline , how to remain calm when the pips goes against you and how to cut loss hahhaa