Does anyone make any consistent profits forex trading?
Been studying Forex for a few years now and struggling to find consistency but also starting to wonder if its actually possible to be consistent in this market. Do you have a consistent method or approach? Would you mind sharing it with me or perhaps even mentoring me? Not looking to be Warren Buffett – just looking to support my family with alternative sources of income. Any assistance would be gratefully appreciated even if its just directing me towards sources or other Forex systems.
June 23rd, 2010 at 4:35 am
no
June 23rd, 2010 at 4:36 am
Yes
I trade FX for a living and still make a profit – even in this market. Despite messing up a number of times Im still well above my weekly target this week.
Trading off the pivots like everyone else does is the most tried and trusted method.
There were three opportunities today which could have netted150 pips +
To get that you need to think beyond any strategies and really get an understanding of how the markets are working and the familar patterns they are repeating – even in this market.
Im not going to tell you on here how I did that today for obvious reasons.
You need to think outside the box and not simply rely on any given strategy to make money – understanding the predictably patterns of the market is just as important.
If you do a search for FX trading for beginners the site at the top of the list is the one that will probably help you the most – with good reason. They even give you a pivot point trading strategy to work off.
I do hope you already use forexfactory too for more obvious reasons…
June 23rd, 2010 at 4:39 am
Grace Cheng…
June 23rd, 2010 at 5:15 am
I am consistently profitable and hundreds of others are using currency strength and weakness and parallel and inverse analysis, and support and resistance, with simple trend following techniques.. Trade entries are not difficult if you follow these rules:
If you buy any pair like the EUR/USD, the EUR must be strong or the USD should be weak, or both. Simple rule but nobody follows it. If you papertrade this method for 30 days it will turn everything around for you with almost no technical indicators. If yo usell the EUR/USD the EUR must be weak, or the USD strong or both. It works on any currency pair.
http://www.flickr.com/photos/28210474@N03/4690402123/sizes/l/
http://www.flickr.com/photos/28210474@N03/4678932197/sizes/l/
Check out this real time tool that tell you how to enter trades and compare these entries with anything on the forex, it may be the best system out there,
Good Trading
Mark Mc Donnell
http://www.forexearlywarning.com/
Yahoo Answers Level 3 Responder
June 23rd, 2010 at 5:45 am
To master forex trading. Its is NOT about using Indicators. All indicators are lagging indicators.
To master forex trading – You need to know Price Action.
This is what separates the 5% profitable traders from the 95% wannabes.
Money management, trading psychology are the next important elements that comes into place.
This is what i do for the past 14 years.
To an Awesome trading,
Ezekiel
http://www.asiaforexmentor.com/
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