Exactly! That's the only way we can succeed here.Ray Martin wrote: Mon Apr 06, 2020 10:12 pm
I think we should learn to take everything in our stride be it profits or losses.
Re: CAN WE ACTUALLY Making Money in Forex????????
32Which is definitely not a right approach.Frankie_tr wrote: Fri Jun 05, 2020 6:05 pm Exactly. Most people just see one side of it and forget about losses.
Re: CAN WE ACTUALLY Making Money in Forex????????
33Well such people aren't able to go that far in this field. Trading is all about how you accept losses and turn them into your strengths in future. Successful traders will surely understand this.Frankie_tr wrote: Fri Jun 05, 2020 6:05 pm
Exactly. Most people just see one side of it and forget about losses.
Re: CAN WE ACTUALLY Making Money in Forex????????
34Well said mate. Its nothing less than a roller coaster ride. Not everyone can stand straight. Most get wiped by losses.Trado9 wrote: Tue Jun 16, 2020 4:28 pm
Well such people aren't able to go that far in this field. Trading is all about how you accept losses and turn them into your strengths in future. Successful traders will surely understand this.
- These users thanked the author Frankie_tr for the post:
- Joe_5
Re: CAN WE ACTUALLY Making Money in Forex????????
36Hi, the more important question initially is why do 75% of new traders fail? Research and learn from that first and you will rapidly increase your odds of success.Kurt wrote: Fri Jul 03, 2020 6:53 pm Is forex actually reliable in making money, like has anyone bought himself a car or a house with it ?
(the 75% figure is a rough average of the mandatory disclosures of brokers operating under the EU (ESMA) regulator).
Re: CAN WE ACTUALLY Making Money in Forex????????
37Ofcorse you can do everything about it by enhancing your skills and for that you need a lot of practicing and reviewing. Losses are a part of trading by one has to take steps to avoid or minimise them atleast.GasperRio wrote: Wed Jun 17, 2020 9:07 pm Is it possible to only keep earning profit in forex or loss is just a part of forex and there is nothing anyone can do about it ?
Re: CAN WE ACTUALLY Making Money in Forex????????
38That's right. Keeping up the confidence and taking the necessary measures, working on risk management, can definitely help one reduce his/her losses. Sitting back and not doing anything is no way.Joe_5 wrote: Tue Jul 07, 2020 5:15 pm
Ofcorse you can do everything about it by enhancing your skills and for that you need a lot of practicing and reviewing. Losses are a part of trading by one has to take steps to avoid or minimise them atleast.
Re: CAN WE ACTUALLY Making Money in Forex????????
39Hi Everyone,
I started this post and would like to say I have found a way to make constant profits every week. I'm sharing this because I promised to and for anyone in the future struggling will find their way. This is for the 4H chart, but the same concept can be used for smaller timeframes. However, their will be greater noise. Number one, I want to point out that all strategies work with this concept: MACD, ADX, 2 MA Crossover, etc. The problem with trading forex is you can't look at one pair...It's Suicide!!!!!. But you must compare all currencies against each other. And I have found no Currency Strength Meter (CSM) to reveal this consistently.
The process: I profile all currencies against each other on the daily and/or weekly (this determines trend direction). I use a Zero Lag HMA (from this site) set to 20 (div 2.0) which determines the prevailing trend; Half-Trend because is acts a floating S/R; a MTF Hi-Lo indicator that shows the previous week Hi and Lo; a TDI-ish concept for range (RSI 10 - Ema 1, EMA 7 & BB 34/3); I use RSIx3 (indicator on this site) set to close - periods 2, 3 & 5. Or you can use 3 RSIs. This reveals when the moves are being made. I also make sure I'm not buying near an S & R level. Once you compare the currencies, you get a true idea of what currencies are stronger/weaker. I also reverse the hull color when the profile currency is in second place like the JPY pairs. This keeps uniformity.
Next, I registered for a demo account with Liteforex for their index charts (you can also find a similar indicator on FF by mathtrader7 (I WISH WE HAD ONE HERE...hint, hint). This gives me a snap shot of the entire market profile on one screen. I use the HMA, TDI-ish setup and RSIx3 here as well on the 4hr and Daily. The most important thing is to ONLY trade in the direction of the daily. Your entries (on whatever strategy you choose) should be after the Daily pair OR index chart is already in place. For instance, for me, the HMA has to be white/black on the daily (remember either on the index or your main broker chart) in order for me to buy/sell. Below are examples of profiling by my main broker and index charts. I hope this helps everyone. I've been receiving 500 - 1000 pips weekly using this concept. This is a way of me giving back to F-S community. You guys have really helped me especially the coders: Mr. Tools, Jimmy, Mladen, Pacios and others. Thanks you all and may your dreams become a reality!!!
I started this post and would like to say I have found a way to make constant profits every week. I'm sharing this because I promised to and for anyone in the future struggling will find their way. This is for the 4H chart, but the same concept can be used for smaller timeframes. However, their will be greater noise. Number one, I want to point out that all strategies work with this concept: MACD, ADX, 2 MA Crossover, etc. The problem with trading forex is you can't look at one pair...It's Suicide!!!!!. But you must compare all currencies against each other. And I have found no Currency Strength Meter (CSM) to reveal this consistently.
The process: I profile all currencies against each other on the daily and/or weekly (this determines trend direction). I use a Zero Lag HMA (from this site) set to 20 (div 2.0) which determines the prevailing trend; Half-Trend because is acts a floating S/R; a MTF Hi-Lo indicator that shows the previous week Hi and Lo; a TDI-ish concept for range (RSI 10 - Ema 1, EMA 7 & BB 34/3); I use RSIx3 (indicator on this site) set to close - periods 2, 3 & 5. Or you can use 3 RSIs. This reveals when the moves are being made. I also make sure I'm not buying near an S & R level. Once you compare the currencies, you get a true idea of what currencies are stronger/weaker. I also reverse the hull color when the profile currency is in second place like the JPY pairs. This keeps uniformity.
Next, I registered for a demo account with Liteforex for their index charts (you can also find a similar indicator on FF by mathtrader7 (I WISH WE HAD ONE HERE...hint, hint). This gives me a snap shot of the entire market profile on one screen. I use the HMA, TDI-ish setup and RSIx3 here as well on the 4hr and Daily. The most important thing is to ONLY trade in the direction of the daily. Your entries (on whatever strategy you choose) should be after the Daily pair OR index chart is already in place. For instance, for me, the HMA has to be white/black on the daily (remember either on the index or your main broker chart) in order for me to buy/sell. Below are examples of profiling by my main broker and index charts. I hope this helps everyone. I've been receiving 500 - 1000 pips weekly using this concept. This is a way of me giving back to F-S community. You guys have really helped me especially the coders: Mr. Tools, Jimmy, Mladen, Pacios and others. Thanks you all and may your dreams become a reality!!!
- These users thanked the author naluvs01 for the post (total 4):
- Banzai, Skyold, QSD, gaarmitaar
Probability is Key!
Re: CAN WE ACTUALLY Making Money in Forex????????
40Here are some indicators:naluvs01 wrote: Thu Aug 06, 2020 12:41 am I use a Zero Lag HMA (from this site) set to 20 (div 2.0) which determines the prevailing trend; Half-Trend because is acts a floating S/R; a MTF Hi-Lo indicator that shows the previous week Hi and Lo; a TDI-ish concept for range (RSI 10 - Ema 1, EMA 7 & BB 34/3); I use RSIx3 (indicator on this site) set to close - periods 2, 3 & 5.
