Forex can be easy!!! | Forex Factory

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Forex can be easy!!!

  • #1
  • First Post: Sep 21, 2007 9:47am Sep 21, 2007 9:47am
Forex is so easy, do not make it complicated. Forget about everything u know about forex, the technicals, news etc.
Look i tell u very easy rule.
If it's going up buy it, if its going down sell it, its easy as it is on any pair on any time, just don't get too greedy meaning; on each trade set a goal like 20pip gain then get out, have decipline and do not setup stop loss ever!!! I am making btw 100 to 200 pips everyday with this simple rule.
  • #2
  • Sep 21, 2007 9:51am Sep 21, 2007 9:51am
Quoting altin2007
Forex is so easy, do not make it complicated. Forget about everything u know about forex, the technicals, news etc.
Look i tell u very easy rule.
If it's going up buy it, if its going down sell it, its easy as it is on any pair on any time, just don't get too greedy meaning; on each trade set a goal like 20pip gain then get out, have decipline and do not setup stop loss ever!!! I am making btw 100 to 200 pips everyday with this simple rule.
care to explain more,with charts? thanks
  • #3
  • Edited 10:17am Sep 21, 2007 9:58am | Edited 10:17am
So your trading skills have gotten much better in a year. That is great. Your view was exactly opposite here.

http://www.forexfactory.com/showpost...&postcount=861

Good Trading to you, nice to hear a success story.
  • #4
  • Sep 21, 2007 10:02am Sep 21, 2007 10:02am
yes, indeed i got better. the problem was, i was too much into tech rules, didn't know what to do exactly but after trading demo for 2months i decided to go live started with 2500$ and applied my simple rule. Guess what? i am very successful trader now!!! and very happy with forex.
  • #5
  • Sep 21, 2007 10:03am Sep 21, 2007 10:03am
fxnewbie71

http://img294.imageshack.us/img294/1...enshot1ls6.png

Seems to me the side to trade is pretty obviouse with few exceptions, SMA moving up and price is above the SMA line then trade long.....SMA moving down and price is below SMA line then trade short.....not exactly rocket science
Same Whore .... Different Dress
  • #6
  • Sep 21, 2007 10:11am Sep 21, 2007 10:11am
Quoting altin2007
Forex is so easy, do not make it complicated. Forget about everything u know about forex, the technicals, news etc.
Look i tell u very easy rule.
If it's going up buy it, if its going down sell it, its easy as it is on any pair on any time, just don't get too greedy meaning; on each trade set a goal like 20pip gain then get out, have decipline and do not setup stop loss ever!!! I am making btw 100 to 200 pips everyday with this simple rule.
Hmmm . . .
I must be doing something wrong, I only made 511 pips this week
I was sick 2 days, thats why.

Seriously though, I only trade with positive interest roll, ie: Long on GPB/JPY
Sometimes I have 3 or 4 trades open, you would be amazed how fast, and how much interest adds up.

I always make sure I have enough money in my acct to hold 5 positions open that are down an average of 1000 pips each.

I have started this 3 weeks ago. so far I am up about 1800 pips.

Some one told me, that my acct will blow up in 2 or 3 years. If I can last 2 years, I will have about 500K.
What pairs do you trade?

Please stay in touch, we can compare notes.
  • #7
  • Sep 21, 2007 10:13am Sep 21, 2007 10:13am
also i would suggest u that don't play demo too long cuz demo account and real account is not the same think, u will act differently when u have real account. so when u have decided to have real account, the money that u contributed was ur play money...so don't put ur all savings into forex ever!!! have ur play money to start with, if u lose it don't feel bad about then u decide whether forex is for u or not.
u gotta have strong mind and decipline, if u dont have much money u can always practice with mini account minimum of 300$
good luck u all.
  • #8
  • Sep 21, 2007 10:15am Sep 21, 2007 10:15am
Quoting altin2007
yes, indeed i got better. the problem was, i was too much into tech rules, didn't know what to do exactly but after trading demo for 2months i decided to go live started with 2500$ and applied my simple rule. Guess what? i am very successful trader now!!! and very happy with forex.
I still use tech to plan entry and exit, well not so much exit, like you said, 20 or 30 pips.
  • #9
  • Sep 21, 2007 10:17am Sep 21, 2007 10:17am
Quoting Mysticdiver

Seriously though, I only trade with positive interest roll, ie: Long on GPB/JPY
Sometimes I have 3 or 4 trades open, you would be amazed how fast, and how much interest adds up.
Yeah, paying those 2 pips when you're making 500 can be a real killer huh.

Quoting Mysticdiver
I always make sure I have enough money in my acct to hold 5 positions open that are down an average of 1000 pips each.

I have started this 3 weeks ago. so far I am up about 1800 pips.

Some one told me, that my acct will blow up in 2 or 3 years. If I can last 2 years, I will have about 500K.
I give you 2-3 months.
  • #10
  • Sep 21, 2007 10:18am Sep 21, 2007 10:18am
Quoting Mysticdiver
Hmmm . . .
I must be doing something wrong, I only made 511 pips this week
I was sick 2 days, thats why.

Seriously though, I only trade with positive interest roll, ie: Long on GPB/JPY
Sometimes I have 3 or 4 trades open, you would be amazed how fast, and how much interest adds up.

I always make sure I have enough money in my acct to hold 5 positions open that are down an average of 1000 pips each.

I have started this 3 weeks ago. so far I am up about 1800 pips.

Some one told me, that my acct will blow up in 2 or 3 years. If I can last 2 years, I will have about 500K.
What pairs do you trade?

Please stay in touch, we can compare notes.


yes indeed, i also like the GPB/JPY trade since is the best pair for carry trade, as u said, interest does add up very quickly
  • #11
  • Sep 21, 2007 10:20am Sep 21, 2007 10:20am
Quoting altin2007
also i would suggest u that don't play demo too long cuz demo account and real account is not the same think, u will act differently when u have real account. so when u have decided to have real account, the money that u contributed was ur play money...so don't put ur all savings into forex ever!!! have ur play money to start with, if u lose it don't feel bad about then u decide whether forex is for u or not.
u gotta have strong mind and decipline, if u dont have much money u can always practice with mini account minimum of 300$
good luck u all.
I started a new acct for this. 5K, trading .10 a pip. Next month I wil go to .20 a pip.
My regular acct has also been consistently profitable recently. 9% so far this month, strictly tech, with S/L.

BTW I back tested this over a 20 month period. 357K
  • #12
  • Sep 21, 2007 10:33am Sep 21, 2007 10:33am
Quoting philmcgrew
Yeah, paying those 2 pips when you're making 500 can be a real killer huh.



I give you 2-3 months.
In my 20 months of backtesting I had 1 trade that was open 7 months.
approx 210 days X 2.75 pips = 577 pips. Having been self employed for 16 years, I have learned every penny counts.

2-3 months.
to para phrase something, I guess it is better to have tried and failed, than to have never tried at all.
  • #13
  • Sep 21, 2007 10:49am Sep 21, 2007 10:49am
Quoting Mysticdiver
I started a new acct for this. 5K, trading .10 a pip. Next month I wil go to .20 a pip.
My regular acct has also been consistently profitable recently. 9% so far this month, strictly tech, with S/L.

BTW I back tested this over a 20 month period. 357K
One thing I would like to point out here - the carry trade, until recently, has pretty much been straight up for those months.

Now that we are seeing some corrections, and credit worries, do you think this will still work? I would suspect that the returns won't be anything like that now. Also, could have have recognized 2 or 3 years ago that it was going to plow ahead like it has? If so, you don't really need to think too much, it would make you the greatest trader ever.

The Bank of Japan will no doubt try to do some intervention to keep the Yen somewhat weak, but intervention in the long run rarely works. It is more of less to control the chaos.

However, I of course wish you guys luck!

Clockwork71
  • #14
  • Sep 21, 2007 10:50am Sep 21, 2007 10:50am
Quoting Mysticdiver
In my 20 months of backtesting I had 1 trade that was open 7 months.
approx 210 days X 2.75 pips = 577 pips. Having been self employed for 16 years, I have learned every penny counts.
That's fine, I'm not here to argue with you. But, to be fair, you said earlier that you held for 20-30 pips so holding for 7 months doesn't really add up.

The GBPJPY dropped 3000 pips last month. I don't think 2.75 pips per day would be much comfort during those times.

My only point is that if you're a successful trader you can trade up or down and the rollover debit paid makes very little difference. Some days you're long and some days you're short. It all comes out in the wash. If you're a carry trader and all you have to live for is 2 pips a day that's fine too but after the drop last month you are either wiped out or suicidal.
  • #15
  • Sep 21, 2007 11:11am Sep 21, 2007 11:11am
Quoting philmcgrew
That's fine, I'm not here to argue with you. But, to be fair, you said earlier that you held for 20-30 pips so holding for 7 months doesn't really add up.

The GBPJPY dropped 3000 pips last month. I don't think 2.75 pips per day would be much comfort during those times.

My only point is that if you're a successful trader you can trade up or down and the rollover debit paid makes very little difference. Some days you're long and some days you're short. It all comes out in the wash. If you're a carry trader and all you have to live for is 2 pips a day that's fine too but after the drop last month you are either wiped out or suicidal.
The time period I backtested was 01/05/2001 to 09/20/2002.
I didn't use the past 20 months because in the back of my mind I knew theG/J would hit 251.10.
I do have a regular acct where I trade up, down, whatever my analysis tells me, on any pair.
Don't get me wrong, If I had read my post 3 months ago, I would have thought to myself, poor jerk.
The concept was brought to my attention by an experienced trader, whose opinion I value. It's worth giving it a shot.
  • #16
  • Sep 21, 2007 11:15am Sep 21, 2007 11:15am
Quoting johnedoe
fxnewbie71

http://img294.imageshack.us/img294/1...enshot1ls6.png

Seems to me the side to trade is pretty obviouse with few exceptions, SMA moving up and price is above the SMA line then trade long.....SMA moving down and price is below SMA line then trade short.....not exactly rocket science
Ok now show a chart with MA during lots of chop and slop.
  • #17
  • Sep 21, 2007 11:21am Sep 21, 2007 11:21am
Well, yeah. What do you do in a ranging market? Go to a shorter timeframe? Or just stay the hell out?
  • #18
  • Edited 12:11pm Sep 21, 2007 11:58am | Edited 12:11pm
generally I stay out..... However FX market is a very trendy market, there are periods of rangeing, during those times either stay out or find another pair that is still trending.
here is the same pair but on the houly, still very tradable.

http://img78.imageshack.us/img78/826...enshot1je1.png
Same Whore .... Different Dress
  • #19
  • Sep 21, 2007 12:31pm Sep 21, 2007 12:31pm
Quoting altin2007
Forex is so easy, do not make it complicated. Forget about everything u know about forex, the technicals, news etc.
Look i tell u very easy rule.
If it's going up buy it, if its going down sell it, its easy as it is on any pair on any time, just don't get too greedy meaning; on each trade set a goal like 20pip gain then get out, have decipline and do not setup stop loss ever!!! I am making btw 100 to 200 pips everyday with this simple rule.

PLEASE stop to generalize everything you experience.

Technical analysis indicators etc. can be helpful trading, they can help you make more pips than you would make otherwise.

In Addition, setting no stop loss is suicidal per definition. I am sure since you called yourself a "successful" trader you do actually exit trades and some some kind of stop loss (even if it is a mental one), but as you posted it is is simply not ok!

Be more careful when you post especially in the beginners section.
  • #20
  • Sep 21, 2007 12:46pm Sep 21, 2007 12:46pm
Quoting altin2007
do not setup stop loss ever!!!
That sounds fairly reasonable, I wish somebody would have turned me on to this strategy years ago... I could have been golfing with Bill Gates by now.
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