Forex is profitable ?

BenTrader posted:
If you understand Price Action and Volume Spread Analysis, you may focus yourslef on profitable pattern everydays.

Don't use Moving average and others stuff like that, it will lead you to the wrong way.

Market itself everysingle day, learn how to read it , and you may be profitable.

Moving averages work only in trending market condition. Mostly, the market is not trending :)

BenTrader posted:
If you understand Price Action and Volume Spread Analysis, you may focus yourslef on profitable pattern everydays.

Don't use Moving average and others stuff like that, it will lead you to the wrong way.

Market itself everysingle day, learn how to read it , and you may be profitable.

Nope.

There are other way how to analyse market than only Price Action and Volume Spread Analysis

oshaban posted:

AmDiab posted:

oshaban posted:
Yes. Forex is profitable if you use it wisely. You need to be patient to educate yourself as first step with high degree of patience.
Think about everything in the logical way.

I threw back my PhD degree and work as full time in forex as strategies researcher, IB, coder, account management (sometimes)...
Lately, I coded my best ever EA which made to me 827% of profit in just 7 weeks.

Wow; inspirational story! By the way, how many years it took to be a consistent player here?

I'm in forex since mid 2003 :(

Awesome, I just saw The Oshaban is on myfxbook. Your Wise man and Legendary trader!

Yes you are right. There are others ways as well.

But to the question if Forex is profitable, I would answer yes for sure.

BenTrader posted:
Yes you are right. There are others ways as well.

But to the question if Forex is profitable, I would answer yes for sure.

So, if you are unable to make money here; that means; you need to learn more. All the best.

BenTrader posted:
Yes you are right. There are others ways as well.

But to the question if Forex is profitable, I would answer yes for sure.

Are you profitable? If so could you please share your strategy? I have been struggling a bit recently. I have a good week to start but lots of losing trades now

Are you profitable? If so could you please share your strategy? I have been struggling a bit recently. I have a good week to start but lots of losing trades now
I only use Price Action and VSA. ( Only volumes on the charts , no indicators )

I also use a CSM that I have made coded, to find quickly a good pair to trade.
I focus myself on clear pattern on London and New York open.
Most of my analysis are made on H1 Timeframe.

I only take a position when I understand what is going on.

BenTrader posted:

Are you profitable? If so could you please share your strategy? I have been struggling a bit recently. I have a good week to start but lots of losing trades now
I only use Price Action and VSA. ( Only volumes on the charts , no indicators )

I also use a CSM that I have made coded, to find quickly a good pair to trade.
I focus myself on clear pattern on London and New York open.
Most of my analysis are made on H1 Timeframe.

I only take a position when I understand what is going on.





Maybe you should start analysis with big timeframe.

Would you say that 1h time frame is too short? I thougt that would be considered a longer time frame. I thought that M15 or M5 were short and 1H and above were generally considered the longer time frames

Demetriof posted:
Would you say that 1h time frame is too short? I thougt that would be considered a longer time frame. I thought that M15 or M5 were short and 1H and above were generally considered the longer time frames

I vote for 1H, and I try to make my decisions based on that. I also use shorter time frames for estimating entries and exits, longer for support & resistance level analysis. I never have been using 1M and hardly ever 5M profitably. I think the shortest time frames are too expensive for a retail trader who is using a market making broker.

I think 1H is just ok. One can trade both long term and short term with it.

Demetriof posted:
Would you say that 1h time frame is too short? I thougt that would be considered a longer time frame. I thought that M15 or M5 were short and 1H and above were generally considered the longer time frames

No; h1 is not known as the longer time frame; H4 & above are known as longer time frames.

Demetriof posted:
Would you say that 1h time frame is too short? I thougt that would be considered a longer time frame. I thought that M15 or M5 were short and 1H and above were generally considered the longer time frames

Time Frames up to H1 is a short and medium tf for scalp, day and swing trading. h4 and more is about fundamental, I suppose, but technicals can use it to see the general movements.

Demetriof posted:
Would you say that 1h time frame is too short? I thougt that would be considered a longer time frame. I thought that M15 or M5 were short and 1H and above were generally considered the longer time frames

Well, H1 is very fine because you can see clearly what did happen in previous sessions. ( American and Asian )

Ranges are very clear and also you can check Daily patterns on H1.
I use smaller timeframe for trigger.

But if you are a new trader, a strongly suggest you to avoid Time frame < M15
There is too much noise and the spread will kill you.

I don't use H4 at all.

Why don't you use H4? I also have never used it mainly because it seems like a weird in-between time frame but I have noticed some very reliable trade formations recently on H4

BenTrader posted:

Demetriof posted:
Would you say that 1h time frame is too short? I thougt that would be considered a longer time frame. I thought that M15 or M5 were short and 1H and above were generally considered the longer time frames

Well, H1 is very fine because you can see clearly what did happen in previous sessions. ( American and Asian )

Ranges are very clear and also you can check Daily patterns on H1.
I use smaller timeframe for trigger.

But if you are a new trader, a strongly suggest you to avoid Time frame < M15
There is too much noise and the spread will kill you.

I don't use H4 at all.

Agree with your opinion on the lower time frames! Yes, no doubt H1 is a good choice but H4 is the key to the long term traders.

95% of traders lose because they don't trade correctly

Where's the video gone??

Joseph Nemeth has a lot to say on this subject.

forex should be considered as a job for everyday and should not be considered as fast money and gambling.