Need Urgent Help

HELLO ALL,
PLEASE I NEED HELP, I AM NEW TO FOREX TRADING AND EVER SINCE I HAVE LOSING GREATLY ON IT DAY BY DAY. PLEASE I NEED TO KNOW SOMETHING ABOUT THIS FX TRADE. WHEN NEWS COME ON A CURRENCY e.g USD, SAYING THERE IS RISING TREND ON THE NATIONS CURRENCY AS AT THE WAY IT POSTED BY FOREXFACTORY. AND I USE USD/CAD, GBP/USD, EUR/USD, USD/CHF. DOES THE TREND HAS TO GO DOWN OR UP. PLEASE REPLY SOON, THANKS.

What can I say? - There are no short cuts!

Don't put the cart before the horse!

Demo Trade and make decision based on technical and or fundamental analysis.
Keep Demo trading until you are profitable then you might be ready to risk real money.

Don't put the cart before the horse!

Markets are like my wife. They don't have to do anything I want and they are always right. It is a long road ahead. Lots of study.

Well put...

u nau, u need fo study

http://www.salagir.com/gfx/troll-web.jpg

Do you really think an answer to your question will turn things around? do you believe a simple quick fix will turn you from a loser to a winner? the rewards for the successful are virtually without limit but its going to take everything you've got, years of hard work and frustration without any guarantee of ever being successful. Thats why most people lose. stop trading, take a deep breath and realize this is going to be alot harder and take much more time and effort than you thought. Then make your decision as to whether or not you wish to proceed. If you decided to continue, knowing you risk everything, then apply patience as you wait for experience to develop you into a profitable trader. With patience, and without expectation, you can learn and be grateful for each lesson and each step forward.
To answer your question, the market reaction to a news release cannot be predicted - it is dependant on many factors. No one - not even qualified analysts can get it right. But, given time and study, you can learn to understand what the news releases mean and how they fit into the bigger picture of trading. I would suggest joining newstraderfx's blog. It will take a year or two of study to get a basic handle on fundamentals. This will not in itself guarantee profits. It will be one more tool to assist in your decision making. This needs to be combined with an understanding of technical analysis, mainly support and resistence - I recommend you consider learning this as part of your approach. You also need to understand probabilities and how to apply money management when the outcome is uncertain - this you must learn!! you would not be losing so much now if you understood this. finally even with a thorough understanding of these things you will still be prevented from profit unless.... you understand yourself. This is the most important and difficult part. Included a study and practice of the psychological/spiritual aspect in your trading journey.
Finally, after many, many hours of practice, chart study and live price action experience you will begin to allow your experience (intuition) to help guide your trading behaviour until, one day, you find you are consistently profitable. Then comes more work to improve.

A tradesman does a 4 year apprenticeship to earn a wage from his trade. It will take many more years of dedication to become a master. The same thing with a profession - 4 year degree just to get a foot in the door at ground level and then many years to become elite in the field. Can you honestly expect trading, with unlimited earning potential if mastered, to be any easier or quicker than standard occupations?

Thanks So Much For Your Words Of Advice And Encouragement, You Are One In Million. I Have Been Receiving Different Post By Other Member That Hurt Me Alot But U Comfort Me, Thanks Once Again.

great! youve passed lesson one - getting your ass kicked by the market! we've all been there. I lost hand over fist at first and then I learned money management which enabled me to lose much more slowly. That gave me time to learn from my live trading experience. Start by learning to draw tom demark trendlines ( the moutiki thread here has that info) then learn to identify previous support and resistence. After that learn about pivot points. Thats enough to keep you busy for a while. PM me anytime if you have any questions or need any help as you go

This is a comman Newbie Mistake which in other words we can call excitment. According to my observation your Fx Knowledge is zero But You are on real... Lol ... You said You are a new to forex and you are losing money day by day well your excitment to become rich in a shortcut way is ur enemy... And I believe that the hard work is the shortest cut to success......
Its a deadly dangerous business not according to your theory through which you are trading... Close your account right now and practice hard for atleast 5/6 Month's on demo.... Otherwise you may blow out your remaining account......

Hi,

I recently purchase peter bain pivot system and you mention in one of your threats to a newbie to learn about S/R and trendlines break and pivots points?


My question is of 2.

1) Trendline breaks are most effective with price projection accurately predicted are often happen or price patterns like 123 bottom or top double top or bottom, head and shoulder or inverted head and shoulder?

The attached files is current EURUSD is that a valid trendline break with a 123 bottom?

Not knowing the full details of your experience in the market you speak of loosing money everyday. Do you have strategy? Did you paper trade and practice before putting real money into it? If not I would quit trading it until you get some sound trading and risk management practices.