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Forex can be easy!!!

  • #21
  • Sep 21, 2007 1:27pm Sep 21, 2007 1:27pm
Quoting altin2007
do not setup stop loss ever
go baby go...
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #22
  • Sep 21, 2007 1:31pm Sep 21, 2007 1:31pm
Quoting johnedoe
fxnewbie71

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
What a simple and easy trading method, I can't think that i never think/saw it somewhere until now( in this form, with the moving average). I know a quote that matches my status now: "you can't see the forest because of the trees"
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #23
  • Sep 21, 2007 2:05pm Sep 21, 2007 2:05pm
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.
Good luck. No hard feelings, but I really don't think that your string of success can be continued long term. Eventually the spread and the markets will take back what they give to you. Of course, I could be wrong, but I doubt it.
  • #24
  • Sep 21, 2007 2:35pm Sep 21, 2007 2:35pm
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.
Why would you ever hold a position down 100 pips let alone 1000 pips? There is something wrong with your stop loss strategy.

Also, holding carry positions for the minor pips each day is referred to as "picking up pennies in front of steamroller" for a reason, and last month's 3000 pip slide is indicative of that reason.
  • #25
  • Sep 21, 2007 2:37pm Sep 21, 2007 2:37pm
Quoting SunTrader
Ok now show a chart with MA during lots of chop and slop.
Exactly. Trading solely based upon a simple indicator like a SMA will lead your account to 0 before you know it.
  • #26
  • Sep 21, 2007 3:02pm Sep 21, 2007 3:02pm
I think forex can be easy if you actually take the time to learn and practice. Right now I read then I trade. I talk to some people on vent about the trade and what couldve been wrong. Eventually that will give me the experience ill need. Now on top of this you actually need to listen to the people on this board with what they say.

It may sound like the obvious but I think a lot of noobs practice for a week get lucky gain so many pips and think it will always be like that. They go in without ever remembering what was said a million times in this thread such as use MM, don't over complicate it, wait for your trade...etc.

As of now I dont use methods I see to works best to make pips and money. I use them to see another angle of the market. In order to be on the level of some of these guys its not as simple as a red or blue line that cross at a point but its understanding why its doing that. I think good traders are good traders because they worked hard, never gave up and then one day it just made sense to them.

So yea its simple but to Jerry Rice its was simple to catch a ball between 3 defenders and make a touch down. It was simple to him because he did practiced it 1000s of times a week(not saying you will get 1000 trades in a week)
Excuses are the tools of incompetence
  • #27
  • Sep 21, 2007 4:48pm Sep 21, 2007 4:48pm
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.
OK, would you share your method, your simple rule for trading.
How do you determine the price will go up or down, that's why you can make hundreds of pips everyday. I really like to learn, explain it more clearly...

Regards,

IIN
  • #28
  • Sep 21, 2007 4:55pm Sep 21, 2007 4:55pm
Ignorance is bliss...

It's best if you have no clue about the steamroller behind you while you pick the pennies up.

At some point you will instantly die, but you will be happy your entire life.

The ones worrying about the steamroller will live longer but ultimately live a life full of threats.
  • #29
  • Sep 21, 2007 6:19pm Sep 21, 2007 6:19pm
Quoting charlinks
Ignorance is bliss...

It's best if you have no clue about the steamroller behind you while you pick the pennies up.

At some point you will instantly die, but you will be happy your entire life.

The ones worrying about the steamroller will live longer but ultimately live a life full of threats.
Actually if your trying to relate the above to forex, I'd much rather be aware of the steamroller aka price action in order to get into the street, pick up some pennies, get back out of the street safely, and live to trade day in and day out by dodging the steamroller. It's not a question about fear or worry, it's an awareness that allows one to survive without fear because your confident in your entry and exit. Profitable trading for those that do trade long term can not be worrisome, if it is then another profession may be more applicable.
  • #30
  • Sep 21, 2007 6:36pm Sep 21, 2007 6:36pm
LOL, The Farmer treats the Hog like royalty, feeding and housing the pig, right up until the time he slaughters him, and eats him.
  • #31
  • Sep 21, 2007 7:16pm Sep 21, 2007 7:16pm
Yup as they say, "Bulls make money, Bears make money, Pigs get slaughtered."

Naive newbies who believe they have it all figured after third week, hmmmm.
  • #32
  • Sep 21, 2007 8:21pm Sep 21, 2007 8:21pm
Quoting Trader KGB
Exactly. Trading solely based upon a simple indicator like a SMA will lead your account to 0 before you know it.
It has'nt yet...
Same Whore .... Different Dress
  • #33
  • Sep 21, 2007 9:31pm Sep 21, 2007 9:31pm
Newbies are also fond of twisting things around to convince themselves they actually know what is going on.
  • #34
  • Sep 21, 2007 9:46pm Sep 21, 2007 9:46pm
Capital Markets could be always simple but NEVER easy!

iiivb
  • #35
  • Sep 22, 2007 2:43am Sep 22, 2007 2:43am
MysticDiver, you do know that most hedge funds have blown up because of the carry trade meltdown correct? And I'm sure, they had way more money than you do - to accomodate for a drop like this. Be careful..
  • #36
  • Sep 22, 2007 7:55am Sep 22, 2007 7:55am
Quoting johnedoe
It has'nt yet...
care to share which SMA and Timeframe and which pair......o wise one......
  • #37
  • Sep 22, 2007 9:24am Sep 22, 2007 9:24am
first off.... I use WMA and SMA....... set WMA @ 5, and the SMA @ 7.
when MAs cross and price stays above/below I trade in direction of trend, use longer TFs to reduce the whipsaw.......
http://img204.imageshack.us/img204/2...enshot2tk7.png

it is not so much the MA cross as it is which side of the MA the price is on as to the direction of your trades, this can be done just as easily by using only 1 MA also. when using only 1 MA a 10 period works quite well......trade the side of the MA the price is on.
Same Whore .... Different Dress
  • #38
  • Sep 22, 2007 9:28am Sep 22, 2007 9:28am
Quoting johnedoe
first off.... I use WMA and SMA....... set WMA @ 5, and the SMA @ 7.
when MAs cross and price stays above/below I trade in direction of trend, use longer TFs to reduce the whipsaw.......

it is not so much the MA cross as it is which side of the MA the price is on as to the direction of your trades, this can be done just as easily by using only 1 MA also. when using only 1 MA a 10 period works quite well......trade the side of the MA the price is on.
Quick question, is it possible to shift a moving average at Oanda, Like one can in most charting software?
  • #39
  • Sep 22, 2007 9:30am Sep 22, 2007 9:30am
Nope......quick enough
Same Whore .... Different Dress
  • #40
  • Sep 22, 2007 9:35am Sep 22, 2007 9:35am
Quoting johnedoe
Nope......quick enough
thanks
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