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Can Forex be predicted successfully using technicals?

I would say yes. I put up two predictions on Friday based on some of my analysis. You can see them here:
http://uk.answers.yahoo.com/question/index;_ylt=AtfcMSVxD0XPDnh9CUjZomghBgx.;_ylv=3?qid=20080131133258AAV3xq7
Can’t seem to call up the GBP/USD drop of 100 pips minimum I had up – it was removed and reinstated. Oh well.

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5 Responses to “Can Forex be predicted successfully using technicals?”

  1. SAGI said:

    yes

  2. bdsmslavegirly said:

    no
    people who breath maths cant do it
    huge computers owned by large trading companies and dealers can do it
    you cant do it

  3. Heyvenn said:

    Not really,too many variables.more likely to get busted than a good run.

  4. UriKa said:

    No, but there is a wise way to look at trading foreign currencies. http://www.homebusiness-opportunityseeker.com/learn-forex-currency-trading-online.html

  5. dear_eggie said:

    It depends on the definition of successfully. If you mean 100% accuracy, No ! However if the definition is 60/40 or 70/30. Maybe.

    But to win in forex, you will have to consider the other set of equation relating to money management. COnsider this example.

    Even if my track record is 1:1. Or 50% win and 50% loss. Which I am at the moment, base on about 50 to 80 trades per month, you still can get ahead.

    Looking at win:loss ration in terms of qty is just leg 1 of the equation. Equation 2 is win/loss in $$ terms. Thus, out of 10 trades I lose 5. BUT

    If every winning trade I make $3. and every losing trade I lose 1. I would still come out ahead.

    Forex Trading is like boxing. Every body wants that knock out punch, but it the going on that counts. You will get punch. You will get a bleeding eye. To avoid loss is meaningless. Casue you will get loses. Its impractical to expect 100%win.

    You just have to manage your loses and winnings.




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