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Socially stunted

dfrith64 (dfrith64)
Nov 28 2014 at 12:19
1 posts
Never been on a social site before. Not sure how all this works but will give it a go. New to Forex but not new trader. Just moved over due to the 24 hr trading. Also, I think there is a lot less manipulation in Forex by the big guys. Gives guys like me a fighting chance. Anyway, just looking to hook up for some good quality chat on profitable Forex setups.

ForexAssistant (ForexAssistant)
Nov 30 2014 at 22:56
465 posts
dfrith64 posted:
“I think there is a lot less manipulation in Forex by the big guys.”


Well, no. There is actually constant manipulation going on in the forex market but as long as you understand what that manipulation is, you can take advantage of it and profit. Just trade in the same direction as the manipulators and you will always come out on top. In the forex market, the manipulators are the banks. National Banks, Federal Reserve, you get the idea. They are trying to get their currency to do something, understand what that thing is and trade in that direction.

Trading according to information or the news, is called Fundamental trading but the most popular type of trading is technical. Every website that deals with trading states clearly that “past results are not necessarily indicative of future performances”, - however, often it is. Especially events close in time. Indicators are built to analyze the inertia of events to guess at the future outcome. They are wrong a lot of the time so every technical trader is always looking for the better indicator.

The third type of trading is a specific type of fundamental trading called systemic. These are math based and usually computerized. The idea is that the less a trader needs to do personally, the less likelihood there is that human error will play a significant roll. An automated systemic trading program took over 3,000 trades with no losses. Although the system is very logical, technical traders have a hard time believing that it's true even when the see the monthly broker reports.

These systems are best for retirees or anyone depending on a passive income for their living. They tend to make less than the active investors but they are also safer in that human emotions are limited. Expect to make between one half to two percent a month with these types.

Now you need to figurer out what kind of a trader you want to become then study that style until you have mastered it. One bit of advice, it is cheaper to pay for training than to pay for your mistakes. But I would think that as I'm a trainer. Looking back though, I wish I had training available back when I got started as is available today.

Good luck and welcome to the wide world of forex.

Bob

where research touches lives.
jotekfinance
Dec 01 2014 at 08:45
138 posts
Check out some of the forums. There are a number of them out there. I am on 5, and each has it's own flavor, and interesting and helpful parts.

DRFXTRADING (DRFXTRADING)
Dec 08 2014 at 11:32
169 posts
Welcome..all the best..

My advice..

Larger Time Frames, Swing Trading, Daily, 4Hour Chart

Smaller Time Frames a lot more stressful, challenging more likely to lose than win.

Larger Time Frames offer more stability, less false signals, larger Pips per trade.

You can compare the results of Swing Traders and Day Traders on this site, see what it shows.

Good luck

Duane Shepherd





Trade Less, Earn More
SteveHanks
Jun 25 at 06:47
235 posts
dfrith64 posted:
Never been on a social site before. Not sure how all this works but will give it a go. New to Forex but not new trader. Just moved over due to the 24 hr trading. Also, I think there is a lot less manipulation in Forex by the big guys. Gives guys like me a fighting chance. Anyway, just looking to hook up for some good quality chat on profitable Forex setups.

Read forums. It will help you to enhance your knowledge and skills.

RobSchiz
Jun 29 at 08:09
242 posts
DRFXTRADING posted:
Welcome..all the best..

My advice..

Larger Time Frames, Swing Trading, Daily, 4Hour Chart

Smaller Time Frames a lot more stressful, challenging more likely to lose than win.

Larger Time Frames offer more stability, less false signals, larger Pips per trade.

You can compare the results of Swing Traders and Day Traders on this site, see what it shows.

Good luck

Duane Shepherd





Very good advice.

LyudmilLukanov
Jul 06 at 17:03
465 posts
Try to communicate with other traders if you are new in the market.

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