MarcellusLux's Posts - Page 10

How to start forex trading? Read These Best Tips! in General Apr 07, 2022 at 17:38

There are a lot of words has been posted on the forum about what tips newbies should follow. But people didn't mentioned that trader needs to study the currency to trade and this is very good advice. It is important that the study of the features and specifics of the market acquires a new formulation. By studying the current economic situation of countries, currency features and macroeconomic news, a trader gains valuable knowledge about what has an impact on a currency pair, how it behaves during periods of impact on other assets, how these currencies are affected by the political situati...

Very tough business. in General Apr 06, 2022 at 14:06

If you correctly evaluate your desires and compare them with opportunities, then this is already an advantage over many traders.It is not at all necessary to suffer losses or go through the hell of anxiety and fear to gain important experience.There are several things that make forex trading a less aggressive environment and improve the results:Study yourself and your mistakes, you must know them all and remember to avoid them;Create a trading plan and aims;Keep a trading journal.

Basic mistake we make in General Apr 06, 2022 at 13:10

The mistakes that have already been discussed a million times and that are written in every book are not mistakes, these are neglect.

How much should you invest in trading in General Mar 10, 2022 at 13:58

As soon as you begin to regard trading as a business, all the answers will immediately become obvious.If you want to open a restaurant, you don't ask on the forum how much money you need. You build a business plan and, based on your desires, see how much money you need to open a coffee shop, and how much money you need to establish a chain of restaurants.With proper management, both projects will bring money and pay off. The difference is only in the rate of payback and in the amount of capital.Open a small hobby coffee shop and you will have happiness and some money to live on. Open a cha...

Can you borrow money from the bank to trade forex? in General Mar 10, 2022 at 13:05

You can take a loan only if the business plan assumes a 100% profit (minimum to cover the commission). This could be real estate, mining equipment, or goods to resale in a market where price fluctuation is minimal. Forex market does not have such stability as real estate market. Therefore, borrowing money to trade is a risky business plan.

LUX in Trading Systems Mar 08, 2022 at 11:43

The two trades that I announced yesterday are closed, you can see in the report https://www.myfxbook.com/members/MarcellusLux/lux/8591067Now I have opened a Pound Yen sell and I will give a report after the close. Watch this trade also on myfxbookIt's only the beginning of the month and I'm going to hit my target of 10% in March. February was really successful with the result of 13.46%. By the way, the report for February is ready on the website

LUX in Trading Systems Feb 18, 2022 at 10:05

Today I analyze the trade with the highest profitability in my account. It was made on February 10 on pound yen pair and reached to 75.5 points. This is not the highest number of points per trade in my account, but due to the lot, it was a record profit of $ 128,857.85.The MACD indicators on the 30 minute and hour charts showed a buy signal, while the general trend direction on the four hour chart was consistent with this data, but the MACD just started to cross the signal line. The position of the chart above the EMA 200 and 100 lines also indicated the continuation of the uptrend. I set my t...

Most people become unrealistic in General Jan 28, 2022 at 13:16

What the business is possible to establish with $10,000? But maybe it depends on the country financial condition... anyway, forex is the most accessible type of business. Just see, if you have $100, you can only buy some food for nice dinner, this is investing in your health. But if you have the same $100 on forex, you can trade with any instrument and buy/sell almost everything because of leverage and lot size. So if forex accept only 1:1 leverage, this will be closer to real business project with real profit ability.

1% risk in General Jan 20, 2022 at 15:24

The risk limit is just one aspect of a trading system. Only an integrated approach to trading can be successful in the long term. If your risk limit does not take into account your market analysis and trading history analysis, as well as news analysis and targets, then this limit will stifle your trading, no matter how lucky you are.

You need sound mind in General Jan 20, 2022 at 14:57

Trader needs to be a professional and the emotions that affect the mind during trading should be helpers, not destroyers.

Be productive in General Jan 20, 2022 at 14:43

Yes, you are very right. I don't understand why most people believe that in order to make money on forex we need a certain recipe for luck. This is not true argument and requires patience and hard work, as in other professions.

Mistakes. in General Jan 13, 2022 at 13:53

Practice is the right way, but you need to go through it with the correct trading system, the right psychology, and it is important to know that mistakes are just a pattern that is caused by the flaws in the trading system. It is also important to recognize that this is a general process and mistakes must be carefully analysed after the trading, which as important as what happens in the market.

Believes. in General Jan 13, 2022 at 13:47

Trader can do what seems to be right, even to trade from another room, not looking at the monitor. If it is profitable, then OK, do it.Because the problem of those who suffer losses is not that they make irreparable mistakes, but that these mistakes are caused by the absence of the correct trading plan and trading system.

When a trader is a newbie in General Jan 05, 2022 at 12:41

Mentality.In addition to practising and studying market theory, it is important to spend a lot of time to psychology and building the correct trader portrait. It is better to do this from the very beginning, because the necessary habits must be formed. If these habits are initially formed incorrectly, then later it will be impossible or very difficult to change them.

Indicators are useless in General Jan 05, 2022 at 12:34

Why do you think the indicator is the solution to all trading problems? In fact, you can use any indicator successfully, but get a loss due to the lack of a trading plan or incorrect volatility assessment...Also, as a trader who has been using different indicators in different trading systems for many years, I can assume the next statement: an indicator is not a 100% signal provider. Indicators should be used in chain with other technical instruments, and then the consistency of several data sources will signal the possibility of a trade.

Forex market is an unpredictable in General Jan 05, 2022 at 12:10

don't consider the probabilistic system as something negative, on the contrary, it gives the opportunity to create the most flexible trading systems.

Forex market is an unpredictable in General Jan 04, 2022 at 14:24

Forex trading certainly cannot be regarded as a 100% probability system. This is the ratio of the expected return to the expected risk. Anyway, we live in a world that operates on the principle of probabilities.

LUX in Trading Systems Dec 30, 2021 at 11:58

Let's go through the results of the year. This trading year has been very active and fateful. Big changes opened up perspectives for a big future for me and the first year with the developed LUX trading system showed that I am really on the right track. I am writing to you, my team and everyone who became a partner and investor, my sincere gratitude for your support and participation in the development of the LUX trading system project. Our work has brought us a good profit, hasn’t it? The profitability in 2021 was 153.41%, exceeding my desired 150%. This gives me confidence that nex...

Ready made strategy doesn't in General Dec 30, 2021 at 11:32

I also led to the conclusion that the best trading system is one that a trader makes personally. The suit must be tailored to fit.

Does forex strategies usually work> in General Dec 28, 2021 at 12:27

A strategy or system is just a term that summarizes your trading specifics. All your actions in the market should be deliberate and focused on your goals. You can call it what you want, a strategy or a system or a collection of rules, but it only works like that, only according to the plan.

All Quotes
AUDUSD	0.6414	USDCHF	0.9102
EURJPY	164.77	EURCHF	0.9701
EURGBP	0.8605	GBPJPY	191.31
EURUSD	1.065	GBPUSD	1.2368
USDJPY	154.619	USDCAD	1.3798

EURUSD	1.065	GBPUSD	1.2368
USDJPY	154.619	USDCAD	1.3798

Posts by MarcellusLux