Hello, I want to tell a bit my opinion about market itself and about this trading system.
I think FOREX is gambling like a poker. But difference between roulette and forex, poker is that in forex you can gamble with EDGE. So eg. if you just put random order it means you are gambling and your odds are something under 50% (because of spread etc). And now comes nice thing! You can turn odds in your favor using some indicators etc.
When i open graphs all i see is SWINGS! This is a key word SWINGS! All what you need to do is exploit these swings!
When i found out about forex and this forum, Trading Made Simple was my first trading system. I didn't read that topic like 2 years and now i checked... and i was surprised that so many people still are commenting and following Big E system. I only understood concept about swings in this year.. after 3 years of reading, learning (with breaks). Big E showed me how to identify these swings. We don't know when it will start and when it will end, but we can find ways how to exploit them. This explains quote "let your profit run and cut your losses", It's kinda easy to "guess" when swings will start and it is easy to catch nice big swings, but hardest part is to ride them correctly. I will tell you why. We gonna get very many fake entries - so it means, we need to find how to control fake entries ("cut your losess").. and when we get in THAT BIG swing $$$$, we need to find the way how to get out - not too early and not too late ("let your profit run"). So big swings profit need to cover fake losess.
Under quote "let your profit run and cut your losses" is hiding really interesting, hard job. It is like science. SO many ways.. and SOOO many things influence on your success. Like if even you found how to control your profit factor between winnings and losses.. next comes your personal type. You need to win yourself, need to fight with fear, with gread. Need to be cold. VERY VERY big discipline. And also punctuality.
Again only my opinion - How my brain sees forex.
I will open demo account explorer to test (again in my opinion) systems how to ride these swings profitable.
If i will see that demo account is going well, I will open live.
I am sorry about my bad english, it is not my native language.
I think FOREX is gambling like a poker. But difference between roulette and forex, poker is that in forex you can gamble with EDGE. So eg. if you just put random order it means you are gambling and your odds are something under 50% (because of spread etc). And now comes nice thing! You can turn odds in your favor using some indicators etc.
When i open graphs all i see is SWINGS! This is a key word SWINGS! All what you need to do is exploit these swings!
When i found out about forex and this forum, Trading Made Simple was my first trading system. I didn't read that topic like 2 years and now i checked... and i was surprised that so many people still are commenting and following Big E system. I only understood concept about swings in this year.. after 3 years of reading, learning (with breaks). Big E showed me how to identify these swings. We don't know when it will start and when it will end, but we can find ways how to exploit them. This explains quote "let your profit run and cut your losses", It's kinda easy to "guess" when swings will start and it is easy to catch nice big swings, but hardest part is to ride them correctly. I will tell you why. We gonna get very many fake entries - so it means, we need to find how to control fake entries ("cut your losess").. and when we get in THAT BIG swing $$$$, we need to find the way how to get out - not too early and not too late ("let your profit run"). So big swings profit need to cover fake losess.
Under quote "let your profit run and cut your losses" is hiding really interesting, hard job. It is like science. SO many ways.. and SOOO many things influence on your success. Like if even you found how to control your profit factor between winnings and losses.. next comes your personal type. You need to win yourself, need to fight with fear, with gread. Need to be cold. VERY VERY big discipline. And also punctuality.
Again only my opinion - How my brain sees forex.
I will open demo account explorer to test (again in my opinion) systems how to ride these swings profitable.
If i will see that demo account is going well, I will open live.
I am sorry about my bad english, it is not my native language.