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Why do indicators not work/work? Why is Forex not truly random? 129 replies

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  • Post #101
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  • Sep 9, 2015 11:34pm Sep 9, 2015 11:34pm
  •  mystic
  • | Joined Jul 2009 | Status: Struggling trader on a mission | 211 Posts
Quoting aceventura69
Disliked
, If someone can inform me what the spread is like on E-mini gold/copper contract during the begining of asia session that would be great, cant seem to find this info anywhere somehow..
Ignored
There is no spread on futures.
Plenty of volume on the Emini of course, but not very much on the micro gold. The full size gold contract has a pretty high margin requirement.
While there is not much volume on the micro gold (Dec contract has the most at the moment), it is still tradable. There are a lot of arb bots on the exchange and they will make sure you get filled as price moves through your entry or exit.
Futures are interesting, but you will realise that your costs of trading micro futures are generally higher than trading spot forex. The benefit of a transparent market, genuine volume and depth of market (DOM) outweigh this to an extent.
Holy Grail part 1. - Cut loses short.
 
 
  • Post #102
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  • Sep 10, 2015 1:11am Sep 10, 2015 1:11am
  •  grin
  • | Joined Apr 2012 | Status: Member | 388 Posts
Quoting mystic
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{quote} There is no spread on futures.
Ignored
Really??
 
 
  • Post #103
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  • Sep 10, 2015 1:20am Sep 10, 2015 1:20am
  •  The Fool
  • Joined Apr 2009 | Status: No fool like an old fool | 20,524 Posts
lol, there is no spread on mystic futures
"If The Fool persists in his Folly he will become wise." - William Blake
 
 
  • Post #104
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  • Sep 10, 2015 5:18am Sep 10, 2015 5:18am
  •  mystic
  • | Joined Jul 2009 | Status: Struggling trader on a mission | 211 Posts
Ok ... Maybe I should have said there is no fixed spread in futures.

here is a screen capture of micro gold right now...

Attached Image (click to enlarge)
Click to Enlarge

Name: Capture.PNG
Size: 153 KB


Since micro gold is not very active, there is presently a "spread". My bad.
Holy Grail part 1. - Cut loses short.
 
 
  • Post #105
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  • Sep 15, 2015 7:26am Sep 15, 2015 7:26am
  •  Larsson
  • | Joined Sep 2015 | Status: Member | 12 Posts
*Reply to the topic*
The main thing is to choose the time frame in which trade will not interfere with work, or a work that will not interfere with trade
My thoughts about timeframes:
Daily charts. The most convenient timeframe that does not interfere with main work, not time-consuming and does not create a strong stress voltage. Wake up, turn on the computer, until it's loading warmed up some tea, then looked charts, if necessary you may open an order, then turn off computer again, go to sleep.
Four-hour and hourly charts. Trade within the day already requires more attention and concentration. Someone spends a half-time on social networks and entertainment sites, as someone no time to get up and pour yourself a cup of coffee. You can try several variants - Trade from the working computer. Trade with the tablet. Or trade through remote access. The extreme case - trade with phone.
It is better not to use the M30, M15, M5, M1.
 
 
  • Post #106
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  • Sep 16, 2015 3:28am Sep 16, 2015 3:28am
  •  zeke_world
  • | Joined Mar 2012 | Status: Member | 18 Posts
Anyone living out in Asia or Oceania region then it's the best area to live in. You go to your 9-5pm job and lunch time you can start to monitor the London session and trade if any setups shows. Then when you're back home you can trade the NY session up until bed time i.e. 11pm to midnight. You can pick up your salary at the end of the month and have some extra 'allowance' from your FX trading.
 
 
  • Post #107
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  • Sep 16, 2015 5:27am Sep 16, 2015 5:27am
  •  pistachioman
  • | Joined Sep 2015 | Status: Member | 24 Posts
this is actually a very simple question.

if you have the edge then you can quit your job. obviously

do everything you can to identify that edge while having your day job.
.
 
 
  • Post #108
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  • Sep 28, 2015 10:20am Sep 28, 2015 10:20am
  •  priceaction9
  • | Joined Sep 2015 | Status: Member | 219 Posts
Quoting asliok
Disliked
Good question To be honest I don't like to go to work. Actually I don't like orders and working standart salary. Wake up 7.00 a.m. go to work, go to home and sleep etc etc. I don't like it! I don't like to work for 500-1000$ every month.
Ignored
Who does?
 
 
  • Post #109
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  • Sep 28, 2015 1:10pm Sep 28, 2015 1:10pm
  •  james1254
  • | Joined Sep 2015 | Status: Member | 1,232 Posts
I think it's possible to work and trade but it's hard to manage and it can be pretty exhausting.
 
 
  • Post #110
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  • Oct 7, 2015 3:25pm Oct 7, 2015 3:25pm
  •  ericnyamu
  • | Joined Aug 2014 | Status: Member | 525 Posts
yes it possible to mix work with trade.buy you have to do swing trading or holding positions for long.its fun and also quite profitable
 
 
  • Post #111
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  • Oct 8, 2015 3:43am Oct 8, 2015 3:43am
  •  EvaL
  • | Joined Oct 2015 | Status: Junior Member | 2 Posts
well, nothing is impossible
 
 
  • Post #112
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  • Oct 8, 2015 4:45am Oct 8, 2015 4:45am
  •  Kvn
  • | Joined Jun 2011 | Status: Member | 59 Posts
I think mostly of the traders combine work with trading. There are not so many who trades only, I guess.
 
 
  • Post #113
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  • Oct 19, 2015 4:11am Oct 19, 2015 4:11am
  •  timestamp
  • | Joined Jul 2015 | Status: Member | 39 Posts
I wouldn't mix the two. Trading is a skill set like any other required for a job. It's even more complex than most jobs and requires attention, especially if you day trade. If you're using longer trades, then you could combine the two.
 
 
  • Post #114
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  • Oct 19, 2015 5:08am Oct 19, 2015 5:08am
  •  CndlstckChic
  • | Joined Nov 2014 | Status: Member | 34 Posts
i think that you can definitely accomplish working a full-time job and being a successful forex trader (though who wants to do that? and if you're successful at forex, you shouldn't have to for too long). but with patience, lots of self control, and using daily time frame (mostly), a trader can put very little time in to analyzing charts and making trading decisions (and no time at all babysitting them in front of the screen). i trade price action, and most people familiar with it have heard of the set it and forget it approach...analyze, set up trade, set stoploss, walk away. for the most part - that is it.
 
 
  • Post #115
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  • Oct 19, 2015 7:17am Oct 19, 2015 7:17am
  •  roughtrader
  • Joined Jan 2011 | Status: Senior Trader | 1,475 Posts
Quoting CIORIMAU--
Disliked
It is possible to trade forex and work at 9 to 17.Can you agree that with you works a lot you have to be a long term trader?
Ignored
sure you can, you just use a higher timeframe, you can use the daily timeframe,
each bar will be one day, that will be slow enough so you can check the trades each day after work
Bulls are stupid Animals!especially when Im short!
 
 
  • Post #116
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  • Oct 21, 2015 4:17am Oct 21, 2015 4:17am
  •  Piquant
  • | Joined Jan 2015 | Status: Member | 2,482 Posts
Unless you've got some spare time to check the charts and be updated on latest market developments I don't think you'll be able to trade intra day or scalp. I had a relatively casual job where I could keep track of the market even so at times I would miss entry opportunities. FX is volatile if you want to trade intraday you need to be babysitting your positions before it hits SL or TP. So my answer if you've got 9-5 job its very unlikely that you'll be able to trade FX intraday I suggest you look at long term trades.
Don't buck the trend
 
 
  • Post #117
  • Quote
  • Jan 28, 2016 8:03pm Jan 28, 2016 8:03pm
  •  gabanda
  • | Commercial Member | Joined Dec 2015 | 573 Posts
I chose to do both because forex is a business that has a high risk that I only make forex as a part-time job. I still need a job, so if our account get experience many the risk then we can still be earnings from work
 
 
  • Post #118
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  • Jan 29, 2016 7:03am Jan 29, 2016 7:03am
  •  Alexa000
  • | Commercial Member | Joined Jan 2016 | 22 Posts
I think you shouldn't quit your job until you are really good at trading. Because if you are not, you can loose all your money. Your job is your insurance for this case
 
 
  • Post #119
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  • Last Post: Jan 29, 2016 4:38pm Jan 29, 2016 4:38pm
  •  TheGreatMilenko
  • Joined Jul 2006 | Status: Member | 967 Posts
Quoting Alexa000
Disliked
I think you shouldn't quit your job until you are really good at trading. Because if you are not, you can loose all your money. Your job is your insurance for this case
Ignored
" Lose your money" Not "loose your money". Thanks.
 
 
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