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Forex can be easy!!!

Quoting altin2007
I Lost All My Money Yesterday, I Thought Forex Is Easy But Actually Is Not, I Tried, Forex Is Definetely Not For Me!!! I Just Wanted To Let Everybody Know This, Be Careful Everyone!!!
altin,

I think there is a solution for you however. Check out the thread "Jacko's House of Pleasure and Pain". You obviously have experienced both in the recent past. He trades the way you seem to want to trade. It is a simple method, not even an MA. But with 1 big difference, he does use a stop loss, but has a great method behind it. Well thought out.

I suggest you seriously look at his method. You will experience an " A HA "


Lou
Quoting altin2007
I Lost All My Money Yesterday, I Thought Forex Is Easy But Actually Is Not, I Tried, Forex Is Definetely Not For Me!!! I Just Wanted To Let Everybody Know This, Be Careful Everyone!!!
Sorry about your loss. Don't feel bad but think of this as a learning experience. Forex is NOT EASY. Just stick around the forums and try to learn as much as you can. You'll eventually figure out a way to make money but you'll also find out quickly that it's very hard to make money in the "long term" and that it requires a lot of discipline and good money management. Trading with no stop loss is a disaster waiting to happen. Unless you are a psychic, you should always use stop losses if you plan on making money for the long term
Quoting altin2007
I Lost All My Money Yesterday, I Thought Forex Is Easy But Actually Is Not, I Tried, Forex Is Definetely Not For Me!!! I Just Wanted To Let Everybody Know This, Be Careful Everyone!!!
Sorry to hear that friend.
Was it the spike @ 11:00 EDT that did it?

I was driving to Boston at the time.
Quoting smjones
If you used your basic idea of buying above the average and selling below the average, by shifting a average in the future you give it some breathing room in cases where you would otherwise be wipsawed. It is not 100%, but nothing is and is an improvement.

This is an example of a 5sma shfited +2

sorry, but what do you mean by 5 SMA + 2 ?

johndoe mentioned WMA 5 and SMA 7............

sorry, a little confused........
Quoting Lou
altin,

I think there is a solution for you however. Check out the thread "Jacko's House of Pleasure and Pain". You obviously have experienced both in the recent past. He trades the way you seem to want to trade. It is a simple method, not even an MA. But with 1 big difference, he does use a stop loss, but has a great method behind it. Well thought out.

I suggest you seriously look at his method. You will experience an " A HA "


Lou

i've been telling people about jacko's method in other forums too !

i've yet to use his method but it inspired me to buy eur/usd when my a/c was down like 35% from +25%.........i'm now back up to +55%

the only drawback is the eur/usd can't go up forever so we'll have to look at other pairs in the future........at least a few more years to go.
Quoting findcount
sorry, but what do you mean by 5 SMA + 2 ?


sorry, a little confused........
5 period Simple Moving Average displaced 2 candles (bars) to the right.
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Quoting philmcgrew
5 period Simple Moving Average displaced 2 candles (bars) to the right.
i see.....thanks a lot, too bad Oanda has no such option. seems like it's sort of trying to predict the future ?

many thanks for quick reply.
Quoting findcount
seems like it's sort of trying to predict the future ?
Aren't we all?

Seriously, the people who use this are usually employing some kind of moving average crossover. The longer SMA is usually displaced to retard its reaction to a changing market. The shorter SMA is more responsive and allowed to cross at will. By slowing down the longer SMA there are fewer crosses and as a result it is believed, fewer whipsaws. I don't personally use this but I certainly experimented with it in system develpment.

Could you achieve the same effect by increasing the length of the longer SMA? Yeah, probably.
Phil, thanks again......

i'm trying to trade breakouts from continuation patterns and channels as i feel i've no need to predict price going up/down but rather, i wait for the price to decide i going long/short .

i have been able to hit my target of 10 pips a day for a while but lately on gbp/usd and gbp/jpy, i've had trades being stopped out and then only to go in my direction.......!!

can you advise me how to better gauge a confirmation of breakout if i using 1hr or 30min chart ?

should i wait for price to cloe beyond trenline or is there a indicator that can help ?

should i place my stoploss in the middle of the trading range and not too tight ?
Quoting philmcgrew
I don't personally use this but I certainly experimented with it in system develpment.
Here's an experimental model using neg.,0,pos. shifts on MMA's.
Kind of interesting IMHO.
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Quoting FXSurfer
Here's an experimental model using neg.,0,pos. shifts on MMA's.
Kind of interesting IMHO.
And what makes it "Kind of interesting" ?
Please assist, we need 4 junior traders to post us with reliable trading signals on major currency pairs, or alternatives if you prefer. We are a dynamic team of honest traders with honest intentions, trading more than a dozen forex accounts around the globe. If your signals prove to be effective, we split the profit 50/50, for each & every trade. This project will run for a demo period of 6 months. Hereafter, the potential is unlimited. We can come to a realistic agreement both ways. Contact us: stephanjohn(at)mtnloaded(dot)co(dot)za. Thanks.
sorry to hear about the blown account...don't sweat it you'll get use to it ...kiddn I've blown several live accounts ...i think it takes on average 2 years to start to understand how the market works (i'm no genius). Focus on one pair. Some things you cant rush!

Either use real stop loss or mental ...be careful brokers like to play games. I say trade what you SEE and stay in the trend! Stop picking tops and bottoms if weekly chart says BUY then you should ONLY be buying (best way to turn a loss into a win), should be simple enough. Of course our egos get in the way...damn ego.

Good things come to those who wait!
hope you find a way soon
  • Post #95
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  • Last Post: May 29, 2008 2:21am May 29, 2008 2:21am
Quoting voodoo7
Please assist, we need 4 junior traders to post us with reliable trading signals on major currency pairs, or alternatives if you prefer. We are a dynamic team of honest traders with honest intentions, trading more than a dozen forex accounts around the globe. If your signals prove to be effective, we split the profit 50/50, for each & every trade. This project will run for a demo period of 6 months. Hereafter, the potential is unlimited. We can come to a realistic agreement both ways. Contact us: stephanjohn(at)mtnloaded(dot)co(dot)za. Thanks.
Dude you can't expect people to trust you just because you claim you're honest. Nor am I saying you're dishonest. I just think you're going the wrong way about it.
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