Thursday, August 19th, 2010
I trade forex on marketiva platform, and I am looking for a good trading manual system I could use to get more pips trading on marketiva mini forex account. I think I found an answer. First of all you must have good trading discipline. Without it you are destined to fail. And you're right you need a good trading plan. Several successful traders have a very basic signalling system and with forex you get trade it either by fundamentals or by technical. A Trading plan using fundamentals would be using news and economic releases. A trading plan using technicals would use a charts. Start of using EMA's. Try a MACD or RSI. But remember to keep it simple.
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Tags: Discipline, Economic Releases, Forex Trade, Forex Trading, Macd, Manual System, Rsi, Signalling System, Successful Traders, Using News
Posted in Forex Trading System | 1 Comment »
Monday, August 16th, 2010
I went to an introduction to FOREX (foreign exchange) class recently and they were telling us how with a good education in FOREX you can consistently make money, and good money too, since you are trading 50 or 100 times what you have in your trading account. The complete course is $2000 and they were pushy for us to take the class so I didn't feel so confident about it, but I read up on the subject a bit and did a trial trade for about 30 days, I was up a lot at one point (about $8000) but in the end of the month I pretty muich broke even. WIth more knowledge and a proper education on the subject can it be a long term way of makin money? DEAR ALL, thanks for your responses, overall you seem to think currency trading is high risk and not really a viable way of making money from home. I should have mentioned in my question that if I were to do it, I would want to rely more on technical analysis and all the ratios and different theorems etc. I would also be making trades that are from about 30 minutes to at most one day. Does this change anyones opinion on the subject. Do you know what I found? The Forex market is full of scammers and people who sell questionable products than make them rich and not you. I would advise against Forex trading. You are likely to lose your money. Forex is useful to companies that make money in one country and need to exchange it for money in another country, but most individuals who trade Forex lose money. Read the links: These trial trade programs do not always properly simulate the market. I would not trust them.
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Tags: 30 Minutes, Currency Trading, Foreign Exchange, Forex Market, Forex Trading, Good Education, High Risk, Makin Money, Making Money From Home, Money From Home, Proper Education, Questionable Products, Ratios, Scammers, Trades, Trading Education
Posted in Forex Trading System | 5 Comments »