Well, I have been a pretty follower of FF and have studied almost all Trading Systems here but I have come to discover that we are independent people. What works for someone might not work for another. But there is something in Forex which works for everyone and that is reasonable money management.
Another factor which sends most people out of the market is our personal orientation and beliefs about Forex. We all understand that about $4trillion is traded daily on Forex and we quickly want to make about $1million out of the market without even considering our capital. The best way to get rich in Forex is by compounding your profit.
If you work with proper money management and consider trading for just a little say 4 - 10 positive pips daily, then your account size would have between 1000-2500% Return on Investment (ROI) after 1 year.
Another thing to be considered when trading for people who wants it big is to always consider rounded prices when trading. For example, on pairs like GBPJPY, GBPUSD, GBPCHF you should enter trades at 1pip above a round price of maybe xxx.50 or xxx.00 for GJ, or x.xx50 or x.xx00 for GU and GCHF. You take profit level should be the next round figure i.e. if you enter at xxx.50 then your take profit would be next xxx.00 and vice versa. You should also endeavour to set your S/L to the rounded figure before your entry price.
Finally, a good trading system is necessary and I believe this is what everyone want. I have a good trading system I use which has failed me only twice and both times I never really heeded to signals i.e. it was human error from me but I am not going to let that out. What would only make you a better person is to work on your trading system yourself. Build it upon what you can see on your chart not what others want you to see. You can try your hands on 50EMA, 100SMA, PSAR and AO.
If you were able to see anything at the end of your study you can post here so we can discuss further.
I wish you all luck and hope that you succeed in your trading career because over 90% people fail in truth.
Another factor which sends most people out of the market is our personal orientation and beliefs about Forex. We all understand that about $4trillion is traded daily on Forex and we quickly want to make about $1million out of the market without even considering our capital. The best way to get rich in Forex is by compounding your profit.
If you work with proper money management and consider trading for just a little say 4 - 10 positive pips daily, then your account size would have between 1000-2500% Return on Investment (ROI) after 1 year.
Another thing to be considered when trading for people who wants it big is to always consider rounded prices when trading. For example, on pairs like GBPJPY, GBPUSD, GBPCHF you should enter trades at 1pip above a round price of maybe xxx.50 or xxx.00 for GJ, or x.xx50 or x.xx00 for GU and GCHF. You take profit level should be the next round figure i.e. if you enter at xxx.50 then your take profit would be next xxx.00 and vice versa. You should also endeavour to set your S/L to the rounded figure before your entry price.
Finally, a good trading system is necessary and I believe this is what everyone want. I have a good trading system I use which has failed me only twice and both times I never really heeded to signals i.e. it was human error from me but I am not going to let that out. What would only make you a better person is to work on your trading system yourself. Build it upon what you can see on your chart not what others want you to see. You can try your hands on 50EMA, 100SMA, PSAR and AO.
If you were able to see anything at the end of your study you can post here so we can discuss further.
I wish you all luck and hope that you succeed in your trading career because over 90% people fail in truth.
Trading Just Got Easier...
