How to increase trading skills ?

Fundamentals tell you what 'should' be happening...technicals tell you what 'is' happening!

garjus posted:
Fundamentals tell you what 'should' be happening...technicals tell you what 'is' happening!

Technicals show you what's happening, fundamentals tell you why it's happening

'Fundamentals tell you what 'should' be happening..
technicals tell you what 'is' happening!

And systemic (mathematical) is how you trade when you want to stop guessing.

Combine technicals with fundamentals and you have a good chance of winning.

BenNathanFX posted:

garjus posted:
Fundamentals tell you what 'should' be happening...technicals tell you what 'is' happening!

Technicals show you what's happening, fundamentals tell you why it's happening

Then that defeats the purpose of Fundamental analysis because all you end up doing is following the crowd 'after' the fact, rather than gaining some insight as to what might happen 'before' the fact. I don't need to know 'why' prices are rising in order to profit from a long position, but it would be very handy to know in advance. In its purest form, Fundamental analysis seeks to determine fair pricing given a set of influencing factors, i.e. wages growth, retail sales, inflation, and interest rates, which can be used to form a price model. If today's price is $1.00 and the Fundamentals say it should be $1.45, then I'm looking for a long position and I'll use Technical analysis to achieve that aim.

ForexAssistant posted:
'Fundamentals tell you what 'should' be happening..
technicals tell you what 'is' happening!

And systemic (mathematical) is how you trade when you want to stop guessing.

Who's guessing, Bob?

No one really know if the price is going to go up or down, or how far it will go before it reverses. No matter what indicators say or news release one hears, you are guessing that you will be right. Playing the odds so to speak. However, the split grid took over 3000 trades with no losses, except one for 8 cents when the power went out. No guesswork with that kind of a system, of course it only makes about 10% a year but families wanting to retire would like a rather steady 10% as long as it is fully automated. Traders want more so the split grid is usually overlooked by active traders. Well, you know, to each their own.

ForexAssistant posted:
No one really know if the price is going to go up or down, or how far it will go before it reverses. No matter what indicators say or news release one hears, you are guessing that you will be right. Playing the odds so to speak. However, the split grid took over 3000 trades with no losses, except one for 8 cents when the power went out. No guesswork with that kind of a system, of course it only makes about 10% a year but families wanting to retire would like a rather steady 10% as long as it is fully automated. Traders want more so the split grid is usually overlooked by active traders. Well, you know, to each their own.

It can only ever be a probability, Bob, whether you apply Technicals, Fundamentals, a mathematical grid, or some combination of all methods.

THE ONLY WAY. IS EXPERIENCE. NOTHING ELSE.

Fail fail fail until you succeed :) Just trade!

If you get desperate just start praying to the Forex gods!

PhamTranAssoc posted:
If you get desperate just start praying to the Forex gods!

Or don't, lol.

It's already been said before but experience is the main way. Make sure every time you lose you note down why you lost and how you lost etc (in detail). This means next time you are in the same situation you change your plan.

No matter how much you practice in demo, when trading live you react differently when you see the trades that you opened relative to the drawdown and instead of being calm and disciplined as you were while demo trading instead you start panicking and opening bad trades.

The best thing to do is to use a forex robot that has proven winning rates of 90% and above

aa33030 posted:
No matter how much you practice in demo, when trading live you react differently when you see the trades that you opened relative to the drawdown and instead of being calm and disciplined as you were while demo trading instead you start panicking and opening bad trades.

The best thing to do is to use a forex robot that has proven winning rates of 90% and above

Does this robot trading really survive?
by the time it is 90% proven the big banks change the type of manipulation tactics they program their robots, the robot you bought might be already obsolete, then you need to reprogram it....or buy another one?

the robot you bought might be already obsolete, then you need to reprogram it....or buy another one?

That's not exactly true, My one robot has been working well since 2008 but you may have to trade with a broker outside the US. The US government has ruined trading for US citizens at home. Even going off shore has become a pain for US traders but if you want to find gold you have to dig where the gold is and that means outside the US.

Trading is hard enough but trading in a manipulated market is financial suicide. The problem is that in the US, all markets are manipulated. I won't even buy stock in a company in the US. Once burnt, twice wary.

Bob

Interesting to read, thanks Bob. I still wouldn't trust a robot, though, lol.

It amazes me how many people agree that the Big Banks control the markets but refuse to LISTEN when they speak. It's VOLUME at LEVELS and how price reacts to that volume that tells you where the market SHOULD go. Took this trade tonight, see if you can tell me why.



Hit pause near the end. Sorry but this site having trouble uploading images tonight so I just went youtube route.

The picture doesn't show us any history otherwise my guess would've been Volume = Interest/Activity. Interest shown at levels with previous price activity.

Do you care to elaborate on Volume at levels?

I don't know if it's okay to post links to other forums on here or not, but forexfactory has an interesting thread on volume and price reacting at different levels. I've just started reading it...

Zunk