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How to trade forex the right way ??

  • #41
  • Jun 7, 2007 1:40am Jun 7, 2007 1:40am
Quoting WTB
Vishnu, go step by step, one task at a time.

I trade full time. My advice to you would be FIRST OF ALL try to understand and discover how to spot a healthy trend. You need to understand trends and how to profit from them before being able to move on. For the time being, forget trading systems, forget moututeki, fozzy, vegas and all the rest, and begin from the very most crucial point: "what is a trend, how can I identify it and how can I profit from it?".

Once you have that more-less figured out, choose your system. But before racing F-1 cars, you gotta get your basic driving license, and that means in the Forex world TRENDS!
Thank's WTB..

I agree with u..

I think, i must reconstruct my mind.. And start all over from the very beginning.. I realized that i read to much without knowing where i will go..
I read all that i can found but not what i need.. As the result's, i don't know anything..
I have to found the foundation first.. And as you say, i think that i have to know the trend first.. Then i can be able to know everything about forex..

Thank's, your'e very enlightening me..
  • #42
  • Jun 7, 2007 1:49am Jun 7, 2007 1:49am
Quoting vishnu_IDR

I find it's really hard when you have to read everything related to forex..
I have read everything in this forum, from james16, mouteki, vegas, fozzy, etc..

But it's making harder for me to understand the whole picture of forex, since everything's seem's blur and everyone has their own interpretation of forex..

I try to understand the price action, but there's no simple way to understand it.. And all i found is everyone arguing someone else's opinion.. So with the indicators, each of it have plus and minus.. And you have to put every one of them in your chart just to make you understand where the price is going..

Is there any simple way to understand this forex thing? The simple way to understand the whole thing's.. I used to read 'simple is better' but i can't find it in this forum.. What i'm searching is a universal language to understand forex..

Is there?

Vishnu:

Yesterday I posted a question asking if anyone
consistently earns profits using any of the systems
listed in this forum. So far there have been over
100 views and no replies. That may help to
explain why you are confused by the many
posts on the numerous systems recommended.

I, too, am a new trader trying to develop my own plan
of action. Keep it simple is the best way to go.
Here is a good place to start:

http://www.forexfactory.com/showthread.php?t=27286
  • #43
  • Last Post: Jun 7, 2007 4:33am Jun 7, 2007 4:33am
Quoting vishnu_IDR
I have to found the foundation first.. And as you say, i think that i have to know the trend first..
Every trader has his own tricks when it comes to identify trends. I personally use three simple moving averages: 30 SMA, 50 SMA and 100 SMA. Go ahead and plot them in different charts and different time frames - if they curl and twist and cross each other like sneaks, there's not clear trend. If they remain in order and moreless parallel to each other, you're in a trending market (have a look at those 3 SMAs in USDCAD 4H chart or CADJPY 4H chart and you will understand what I mean).

There's much more to it, but that's a good start to begin from.
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