Pleases read this, forex traders.?
Me and my Dad have been trading for almost 2 years and we have No progress at all! We buy and buy different books and they wont tell You anything! We need help. Not from sites. But from experienced traders. Pleases, I beg You. Help us. We are in big financial problems. You dont know how we feel. Please help us. Either by mail or phone. Please.
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Filed under: Forex Books
Time frame, time frame, time frame. Know your time frame. What time frame are you trading in ? Hourlies, 4 hourlies, dailies..? How do you set your stop loss ? What is your position sizing method ? Do you have a money management in place ? Don’t look at charts longer than your trading time frame. Don’t look at Dailies and weeklies when you are trading 30 minutes. Shorter time frames allow you for smaller stop loss. So you can have many more go. Don’t get overload with information. Good traders i know, base it only on 2, 3 indicators
Forex trading is super risky and very difficult to master. To be successful in forex trading you need to be very well rounded in world politics, economics, and other current issues. There is so much info that you must go through its nuts. Also if you look at the top forex traders they are usually pretty old meaning they have done this for years and know how to play the market. Another thing is big investors and countries. They sway the markets tremendously when they buy and sell, which you the average investor will not know when this will happen until after the fact.
My advice is get out of forex and go to some mutual funds or stocks or ETF’s. Those too can be risky, but there are some safe ones.
iam sad to hear that you r in big financial problem,till u r comfortable trade only in demo a/c not real a/c
i have a trading strategy to earn money from forex market
if u have a 4000 usd ,i can show u a way to earn 200 usd per month
mail me details about you to raghunath_ramya@yahoo.co.in
>>We are in big financial problems.
Trading forex will not help, but is likely to make it worse.
Currencies are traded according to trends on inflation and interest rate differentials. The trades are EXTREMELY speculative and "efficient", so that if a certain currency were going to have a higher interest rate than another currency, the exchange rates would shift long before the change actually happened. This makes it hard to make a profit.
There are 2 ways I am aware of to make money in forex:
an occasional anomaly will happen, as the result of bad central banking policy. For example, for many years the bank of Japan kept short-term interest rates at near zero, while, oddly enough, supporting other currencies including and especially $US, making it extremely profitable (for a long time, but no longer!) to sell yen short to buy just about any other currency that paid higher interest rates–and collect the difference. The yen didn’t rise much against foreign currencies, because if it did the central bank would intervene to protect the export industries.
Another possibility, hard to catch, is a surprise. If the market anticipates a change, and the change DOESN’T happen as expected, then too many people are on the wrong side of a trade. For example, when George Soros bet against the bank of England and won, because British interest rates were far too low compared to extremely inflationary spending habits of British gov’t.
Don’t count on your luck. Find an easier way to make money.