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Ask Me Anything!

  • #1
  • First Post: Jul 20, 2013 6:29pm Jul 20, 2013 6:29pm
I have about 9 months of forex "experience", but I'm still very much a noob looking to increase my forex knowledge.

What's the best way to learn something new? Learn it well enough to be able to teach it to someone else!

Ask me anything you want related to forex other than for my analysis on currency pairs. Ask me what a Daily Pivot Point is, how to chart Fibonacci Retracement, what a certain indicator really means, etc...

I'll not only research and answer your question to the best of my ability, but I'll also provide links to articles I used to find out the answer so that you can do more in-depth research for yourself (or make sure what I told you is right).

So go ahead! Ask away and help me help you!
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #2
  • Jul 20, 2013 8:48pm Jul 20, 2013 8:48pm
Quoting livethedream
I have about 9 months of forex "experience", but I'm still very much a noob looking to increase my forex knowledge. What's the best way to learn something new? Learn it well enough to be able to teach it to someone else! Ask me anything you want related to forex other than for my analysis on currency pairs. Ask me what a Daily Pivot Point is, how to chart Fibonacci Retracement, what a certain indicator really means, etc... I'll not only research and answer your question to the best of my ability, but I'll also provide links to articles I used...

the question is :
:Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." Warren B. ??

@how to do it,without ever losing
@without stop loss ?
@or use martingale strategy ?
@or very selective in choosing the setup ?
@how about R: R ?
if there is something you should keep secret,simply just save it,, so, just
  • #3
  • Jul 21, 2013 3:44am Jul 21, 2013 3:44am
Quoting livethedream
I have about 9 months of forex "experience", but I'm still very much a noob looking to increase my forex knowledge. What's the best way to learn something new? Learn it well enough to be able to teach it to someone else! Ask me anything you want related to forex other than for my analysis on currency pairs. Ask me what a Daily Pivot Point is, how to chart Fibonacci Retracement, what a certain indicator really means, etc... I'll not only research and answer your question to the best of my ability, but I'll also provide links to articles I used...
Most bizarre post ever, offering to help people when you don't know the answers yourself. Would you take parachute lessons from a builder because he said he would look it up and tell you the answer?
  • #4
  • Jul 21, 2013 4:23am Jul 21, 2013 4:23am
Quoting MaxDoom
{quote} Most bizarre post ever, offering to help people when you don't know the answers yourself. Would you take parachute lessons from a builder because he said he would look it up and tell you the answer?
I agree. He should be banned.
  • #5
  • Jul 21, 2013 10:26am Jul 21, 2013 10:26am
Quoting sandycarrot
{quote} the question is : :Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." Warren B. ?? @how to do it,without ever losing @without stop loss ? @or use martingale strategy ? @or very selective in choosing the setup ? @how about R: R ?
By your post count I'm assuming you know the answer to this question already.

Losing while trading is inevitable. It's bound to happen one way or another. This is simply a quote by the great Warren Buffet. It gives some great insight as to his trading philosophy.

http://www.investopedia.com/universi...renbuffett.asp
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #6
  • Jul 21, 2013 10:35am Jul 21, 2013 10:35am
Quoting MaxDoom
{quote} Most bizarre post ever, offering to help people when you don't know the answers yourself. Would you take parachute lessons from a builder because he said he would look it up and tell you the answer?

I'm not offering to teach people how to make money in forex, or how to trade. I'm simply offering answers to questions that new traders have, such as what a certain indicator actually measures, the difference between SMA and EMA, chart patterns, etc...

These are things that have concrete answers that can be looked up and don't require experience to figure out the answer. I'm not here to advise people on what to buy/sell.
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #7
  • Jul 21, 2013 6:58pm Jul 21, 2013 6:58pm
question to mr 'ask me anything'

what are next weeks lottery numbers
where will the euro close on friday
what is the meaning of life?

any of those 3 questions will suit me, they are the only 3 questions that I need.
https://linktr.ee/Soultrader
  • #8
  • Jul 21, 2013 7:45pm Jul 21, 2013 7:45pm
Quoting soultrader
question to mr 'ask me anything' what are next weeks lottery numbers where will the euro close on friday what is the meaning of life? any of those 3 questions will suit me, they are the only 3 questions that I need.
1. 3, 9, 12, 18, 33, 45 Bonus Ball 26
2. Eur/Usd will close exactly at 1.3032
3. To reproduce.
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #9
  • Jul 21, 2013 7:48pm Jul 21, 2013 7:48pm
i am saved!
https://linktr.ee/Soultrader
  • #10
  • Jul 22, 2013 12:46am Jul 22, 2013 12:46am
OP is trying to learn by helping others, lets not joke on his efforts, if u really have some question regarding trading ask him, he will do research and try to help.

I respect helping others.
been there done that, Good Bye
  • #11
  • Jul 22, 2013 2:24am Jul 22, 2013 2:24am
Hi, can you help me change my MT4 platform chart time as the time on the chart is +2 GMT and my time is +12 GMT, thanks in advance
  • #12
  • Jul 22, 2013 5:41am Jul 22, 2013 5:41am
Quoting wave5
Hi, can you help me change my MT4 platform chart time as the time on the chart is +2 GMT and my time is +12 GMT, thanks in advance

Dear, It is not possible to change timings on MT4 trading platform.
  • #13
  • Jul 22, 2013 6:51am Jul 22, 2013 6:51am
Quoting wave5
Hi, can you help me change my MT4 platform chart time as the time on the chart is +2 GMT and my time is +12 GMT, thanks in advance
Yeah what FX_Anil said. Your platform will use the time zone of the broker that you're using. Only your broker can change the time zone.
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #14
  • Jul 22, 2013 6:52am Jul 22, 2013 6:52am
Quoting WhiteHorse
OP is trying to learn by helping others, lets not joke on his efforts, if u really have some question regarding trading ask him, he will do research and try to help. I respect helping others.
Thank you WhiteHorse! Just trying to help others here... so that I can help myself...
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #15
  • Jul 22, 2013 7:51am Jul 22, 2013 7:51am
you have a 99% chance of never making a dime.

To paraphrase the question,Can you play Russian roulette with 5 chambers loaded?Statistically speaking you have better odds of surviving than FX.

What u say bout that bro.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #16
  • Jul 22, 2013 9:33am Jul 22, 2013 9:33am
Quoting pemully
you have a 99% chance of never making a dime. To paraphrase the question,Can you play Russian roulette with 5 chambers loaded?Statistically speaking you have better odds of surviving than FX. What u say bout that bro.
Not surprised to see that your last like 10 posts are about how no one can ever make money trading. Added to the ignore list.

I'll be here to help if anyone has any legitimate questions.
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #17
  • Jul 22, 2013 2:21pm Jul 22, 2013 2:21pm
Quoting livethedream
{quote} Not surprised to see that your last like 10 posts are about how no one can ever make money trading. Added to the ignore list. I'll be here to help if anyone has any legitimate questions.
Please add me to your ignore list.
  • #18
  • Jul 22, 2013 5:43pm Jul 22, 2013 5:43pm
Quote
What is the difference between Range Bar chart and Kase Bar chart?

A Kase Bar chart is somewhat similar to a range bar chart in that it only takes price into consideration to plot new points. The difference is that a Kase Bar chart tries to match more of the "true range" of price. It takes into account gaps that may occur between the previous bars close and the current high or low in the bar's range.

For example if two sequential prices are .10 apart (1.10 and 1.20) and the Kase Bars are using a target range of .05, instead of generating two separate .05 bars to show this movement (as a standard range bar chart would do), it will instead generate a single .10 bar since this gives a better view of how price has moved.

http://www.investopedia.com/articles...erent-view.asp

http://help.tradestation.com/09_01/t...ebar_chart.htm


Quote
Does indicators such as moving averages or oscillators work better on Range Bar or Kase Bar compared to regular time-based charts like 15mins or 60mins?

I really couldn't find anything on this topic. I will simply speculate that the moving average wouldn't work better or worse on a specific chart, as it's simply meant to provide information. But I can't be sure.


Quote
I've heard about MAM or PAMM accounts. How do I go about starting a MAM/PAMM account and how much can I expect to earn reasonably as the fund manager?

If you are U.S. based, the first thing you would have to do is become a registered Commodity Trading Advisor. This site has details on how to become a CTA.

http://www.nfa.futures.org/nfa-regis...cta/index.html

Last year the NFA released new rules regarding PAMM accounts, so now I don't believe as many brokers offer PAMM accounts as they used to because of these new regulations. One broker I could find who is offering MAM trading that appears to follow the new NFA rules is Alpari US.

http://www.alpari-us.com/en/trading-...-terminal.html

I'm not exactly sure of the process required in other countries, but it seems to be more lenient.


Quote
One more: I've heard people say again and again that '95% of all traders fail and only 5% made it to profitability'. Where and when did this data come from and for the people that blindly quote it again, how do they even know that this statistic is true?

This data isn't true. Studies done show that the percentage may actually be close to 1% in the long run. The 95%-5% rule is a number used over the internet in many other professions as well, such as internet marketing. It's more of a "rule of thumb".

http://mechanicalforex.com/2011/04/t...-evidence.html


Quote
There are so many systems and methods in the Trading Systems forum and Trading Discussions forum. Which one should I learn from? And how do you know that the selected one is "good"?

I can't really say as to which one you should particularly choose. I would first recommend deciding on the "style" of trading you would like to do before picking a strategy. Whether it be investing (long term), swing trade (trades lasting a few days to a few weeks), day trading (trades lasting a few hours to a few days), or scalping (trades lasting only a few minutes.

It is generally recommended to pick longer time frame trading as scalping is seen more as "gambling" since price can be very volatile without notice. Threads that have been around for a long time and have a bigger following have a better chance of being a "good" system, but I'm not one to follow systems myself. I believe it would be more beneficial to choose one or two major currency pairs and follow their threads on the Interactive Trading forum, learning how to trade a particular pair on a particular time-frame, and not trying to force a system to work with a specific pair.
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #19
  • Jul 23, 2013 11:59am Jul 23, 2013 11:59am
That's a nice thread, at least lot better than some of the others I have seen on FF of late..
I do have a query for the poster - just got it from another fx forum and thought it should be interesting enough to post here. Here goes, " What is the best indicator for newbies and what MM would you recommend, with examples please.."
  • #20
  • Jul 23, 2013 4:42pm Jul 23, 2013 4:42pm
Quoting Forexnuts
That's a nice thread, at least lot better than some of the others I have seen on FF of late.. I do have a query for the poster - just got it from another fx forum and thought it should be interesting enough to post here. Here goes, " What is the best indicator for newbies and what MM would you recommend, with examples please.."
In my opinion, the best indicator for a newbie would have to be a moving average. You should always be trading with the trend, and a moving average helps to show where the current trend is. It's also great to show pullbacks and retraces to the trend.

http://www.babypips.com/school/simpl...-averages.html

As for money management, there are different types of ways to go about it. Two of the most common forms are % risk model, and the fixed risk model. The % risk model is about risking a certain % of your account balance on each trade. The fixed risk model is about risking a set amount on each trade, regardless if the previous few trades increased or decreased your account balance.

The link below talks about these two types of money management systems and also gives a chart example to show the difference in an account balance using each method. It's clearly biased toward the fixed method though, as I've also seen chart examples which bias the % risk model.

http://www.learntotradethemarket.com...-forex-trading

As for which one you should particularly choose, I can't say. I personally prefer a mix of the two. I calculate the % risk at the beginning of the trading week, and then use that fixed amount throughout the week. Then I re-calculate the next week.
"If you won't risk the usual, you'll have to settle for the ordinary."
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