Good Bye Forex!!!!!!!!!!!!!!
Iv'e traded forex for 15 years and Forex is not what it used to be!!! It's not possible to consistently make money in a market which trends some days/months,
but other days/months has a crappy range of 30-70 pips with the daily and weekly candles both UP DOWN UP DOWN UP DOWN!!!!!!!!!!!! Forget about trying to use support resistance levels, channels, or price action of any kind to try to day trade such tight ranges, it's not consistent long term! Forex is nothing but a manipulated rigged gamble! At the right times you can easily make money, BUT N THE WRONG TIMES (those profits will always get wiped out)! And the worst thing about forex? currency pairs ALL move together meaning when all the pairs go one direction the others do the same thus there is no such thing in forex as trading multiple pairs to spread your risk out.
Crude oil on the other hand ACTUALLY MOVES, and you can make money at since is trends 100-300 ticks many days!
Small cap stocks are also 100 times easier to locate breakout patterns which are about trend way up or down and spread your risk across 10 separate companies which actually ( won't all go against you like trading 10 currency pairs would!
I'f wasted 15 years of my life studying forex only to MAKE MONEY, get false senses of security when the market trends for 6-8 months to then lose it all when it goes flat! The more I research the more I find example of people who have gotten rich trading stocks, vs the very few public figures I can find of any public figures who made it big in forex!
So goodbye forex and hello crude oil and stocks!Unlike forex stocks can have 0 value (or they can have nominal value which nobody wants to pay). Oil is a bit different, but if you want to avoid the traps of rigged stocks you should not dismiss forex
Why don't you adjust postion size to correspond to ranges/risk?
Btw: if OIL is not rigged, I don't know what is
Let me guess you live in the US where you can't hedge or you're subjected to the FIFO rule which makes it much harder to make a profit.
The OP has a point but he might have jumped ship just as things are starting to get interesting. Ranges in FX have contracted significantly over the last 7 years but are not hugely different than the period between 1999 and 2007. On a relative basis, there were still much better trading opportunities in equities and commodities this year. This could be changing soon which could swing the volatility back into currency markets.
Attached is a weekly chart of EURUSD with a 4 week ATR and some trend lines. Make your own judgments.
Alex
that's just it the risk to reward ratio is crappy when you have small daily ranges. So what if a currency finally moves 300-500 pips in a month if 3 weeks of the month it had a crappy range of only 25-50 pips, to then boom all of a suddenly have a range of 100-200 points daily ONLY for the last week of the month. or for 2 weeks down then straight back up. You call that a good range?? When you narrow it down on the daily timeframe its not really a good profitable trading range unless out of the month atleast 20 of the 30 daily candles move in 1 direction and atleast 100 points. Oil has a history of offering those opportunities more so then currency by far. And as for stocks there are over 40,000+ stocks to chose from which all do their own thing entirely vs a limited 10-15 currency pairs which all move in correlation to one another. Thus the likely hood of picking consistent breakouts vs fake outs is much greater with stocks compared to forex. As for hedging your only fooling yourself since it's not much different then martingale in a sense. Every time the market moves against you you have to add another position until the trend actually moves a greater amount in one direction over the other. But sooner or later the market will go up and down within the same range 20+ times in a row (even if your trading the higher timeframe (and then you will have used up all your margin and wiped out your account.
Looked at UDSJPY?
Uhh Bye? 
Uhh good luck!
Very sad news. I lost my trading capital many times but I never lose my confident. I believe candlestick is the trading indicator. So, we have use which trading broker shows accurate candlestick of the market. Because, this high profile trading broker always shows real market price with prefect candlestick. So, it’s very easy for me to make accurate market analysis.
If you lost your account many times, why are you still trading?
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Iv'e traded forex for 15 years and Forex is not what it used to be!!! It's not possible to consistently make money in a market which trends some days/months,
but other days/months has a crappy range of 30-70 pips with the daily and weekly candles both UP DOWN UP DOWN UP DOWN!!!!!!!!!!!! Forget about trying to use support resistance levels, channels, or price action of any kind to try to day trade such tight ranges, it's not consistent long term! Forex is nothing but a manipulated rigged gamble! At the right times you can easily make money, BUT N THE WRONG TIMES (those profits will always get wiped out)! And the worst thing about forex? currency pairs ALL move together meaning when all the pairs go one direction the others do the same thus there is no such thing in forex as trading multiple pairs to spread your risk out.
Crude oil on the other hand ACTUALLY MOVES, and you can make money at since is trends 100-300 ticks many days!
Small cap stocks are also 100 times easier to locate breakout patterns which are about trend way up or down and spread your risk across 10 separate companies which actually ( won't all go against you like trading 10 currency pairs would!
I'f wasted 15 years of my life studying forex only to MAKE MONEY, get false senses of security when the market trends for 6-8 months to then lose it all when it goes flat! The more I research the more I find example of people who have gotten rich trading stocks, vs the very few public figures I can find of any public figures who made it big in forex!
So goodbye forex and hello crude oil and stocks!