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Hi all,
i hope everything is fine
I have been trading in forex for quite some time now. This my passion.
Hey fellas!!
Hello to all. First post but have been trading for many years. Started with stocks but moved to forex a few years ago.
im new in fx tsd say hello to me guys
keep cool
I am waiting for a candle to close below the MA and hope the EA will stoploss me out at that point.
adil
Nice to meet you guys.
Hola, me llamo Ivan (irsoft) y soy nuevo en este forum.
Soy nuevo en Forex y quisiera aprenderlo bien para ganarme la vida con ello.
Hi everyone, I am new here, and have been trading for three months. I guess that makes me an outright beginner! I started with £500 live account for fun and after a huge effort and countless trades have made a massive £18.09. It would be interesting to see how the average person performs in their three first months as I have no idea if this is good or not. As an hourly rate, I suspect I have earned 20p an hour, so there are easier ways to make money, but not nearly so much fun! I am interested in automated trading, but am very aware of the dangers of a moving market. There are plenty of warnings on here about this. I have read avidly, the posts by Christina Li who has provided some amazing EA's for trade management, which I have used for the last few days to great effect. I am convinced there is a strategy out there which can be converted into a killer EA. If there is, I will find it or develop it. If there isn't, I shall enjoy the ride anyway. I suspect I will never 'find' it as those who do develop them, keep them to themselves... To the Admins, this a great site so thanks. You will probably be hearing from me again soon!
akingsail, welcome
Forex market can definitely be a wild and enjoyable ride especially when making money. The search for a strategy is part of the fun as well, with several strategies out there. What time frames were you using as you experimented with that live account?
My advice is to focus on the larger time frames of the Daily and 4 Hour Chart in searching for a strategy.
Day Trading on the Lower Time Frames is the most popular way to trade for most people, but is the most difficult thing to make money consistently this way, which is why 95% of traders fail-sad but true. Finding consistent patterns for a strategy for such an important asset class as a country´s exchange rate is very difficult to do at this micro level.
Swing Trading on the Daily & 4H Charts have more stable and reliable trends and signals that are much easier to trade. Day Trading was never profitable for me. It was only after switching was I profitable. I developed a strategy on a Demo Account this year (always recommended before Live Trading) and with just 7 trades, I am up 13.0%, with close to 400 Pips made in the last 6 trades.
The benefits of Swing Trading include;
Again, as exciting as Day Trading is, it is not very profitable for most traders.
I will share my results in another thread in this forum so you can see the benefits of this style of trading.
When you are convinced, I can share this strategy with you for you to use on Demo.
Good luckDuane aka DRFXTRADING