Sure Fire Way To Make Money In Forex

[carlgreen]

You lose, not because the market has taken the opposite direction to your trade but simply because you don't know how to trade.

No I am sure you are wrong! It would seem the market really knows when I go long and when I go short and be specifically out to get me and me alone!

Oh Well back to the drawing board......

If I knew what I was doing, I wouldn't be on here asking for help and seeking advise!

This is meant to be a lighter post to bring a little smile to peoples day (or night) not an in depth analysis of the lack of my ability or know how.

 

[Pippy5000]

One more thing.. You guys may think it's a joke but finding out what losers are doing is a very effective strategy called "sentiment" .. If you see that 65% of retail traders are long it's almost a sure thing that you should be short. Why? Because the vast majority of retail traders are losing traders!

Look up "strategic sentiment index" on Google.. It actually works!

sorry, it's speculative sentiment index..:whistling

 

[everyonerich]

i do have a sure fire way to make money in fx, but need lots of money. most of the retail trader is impossible to do that..

 

[Splitlink]

Dante,

It's an emotional issue for me to move the stop to breakeven. Once I know that I won't lose money I'm far more likely to avoid tampering with my trades and it isn't good for your body to be under constant stress. So I consider my tactic an investment into my health. I do see what your saying that mathematically it would be better to put the stop beyond the next strong support or resistance but I don't have any valium you see I make the majority of my living doing this and there's only so much fingernail-biting and hair-pulling I can do in a week. Also, if I hear "Your deal is confirmed" I'll go back in my office room and see if I can pick up the pair at a better price thereby increasing my profit potential. Riding bad trades never makes any sense. Why go negative when you can get out of the deal?

Also, would you not agree that a true breakout (with the majors) needs to exceed 20 pips beyond the resistance or support before being considered a real breakout? Any less and a pair might poke it's nose through before reversing and stop you out and anymore than that just adds to the loss. For instance, I find EUR/USD poking its nose through a r/s line by 10 or 15 pips all the time and then reversing in the direction I want. However, 20 or 25 pips beyond the r/s can cause gains/losses to accelerate quickly. So that's why I choose 30 ..

These last few weeks have not been an environment for big stop losses as well.. We keep seeing pairs blast through barriers at light speed.

The first pullback may be a safer point to enter after a breakout. That gets rid of the problem of how many points to wait. Having that rule disposes of some of the worry---I don't say all of it, but it means that a new trend has established itself, instead of trying for a breakout, which is a change of trend spotting operation and is more difficult.

 

[gamma]

No I am sure you are wrong! It would seem the market really knows when I go long and when I go short and be specifically out to get me and me alone!

Oh Well back to the drawing board......

If I knew what I was doing, I wouldn't be on here asking for help and seeking advise!

This is meant to be a lighter post to bring a little smile to peoples day (or night) not an in depth analysis of the lack of my ability or know how.

Lol!
Of course you are right my friend,I remember way back in time when I had a problem with placing my stop losses, I was in a similiar situation to you . It was just unbelieveable, how this trillion pound industry threw all it resources at me There was a conspiracy between the Banks, brokers, hedge funds private investors, just to take a few pounds off me.So now they are off my back and on to you, don't get paranoid about it they really are out to get you.

 

[Pippy5000]

Yes, a $50,000 year employee sits around all day waiting to take your $30 by risking $1,000 of company money

If you're really paranoid try a broker without a dealing desk or stop doing day trades and focus on weekly trades. They won't push the price 300 pips in the wrong direction just to stop you out of a 1 lot trade.. but if you use 20 lots and a 15 pip stop loss you are really, really asking for it. If you trade like a chump who won't last 2 weeks they aren't too worried about your long-term business. Someone's going to take your money so why not them?

Even so I think being stopped out by the broker happens a lot less than people think it does.. What does happen is that an investment bank will come along and stop you and a few thousand other people out at the same time (barrier hunting), but you can't hate the investment banks because you can be on the right side of their barrier hunting as well.

Hang in there Carl.. It's really hard to get started because 90% of the web sites, blogs etc.. on the subject of Forex are merely underhanded attempts to get you to pay them directly for signals, sell you some dreary e-book or to get commission for signing you up to this broker or that.

The advice I'd give you is to stop high-dollar day trades and to use the minimum lot size available WAIT until the price gets to the bottom or top of a range and buy or sell from that point. By using this approach you minimize loss potential and maximize profit potential. Don't try to trade the middle of a range in order to risk 100 pips to gain 100 pips.. You don't have to be in a trade everyday and if you try to push it the odds are appauling.

The internet is not the best place to get newbie information because there's so much nonsense out there.. Buy a few books from Amazon and take it slow. Once you are a little more seasoned you might find that people will be more interested in talking to you.

 

[goldtip]

FX Daily Recommendations

Hi Everyone
If you want an absolute sure fire way to win in the Forex Market..........Just do the exact opposite of what I do!

If I go Long on a pair.......it Goes down.....
If I go Short on a pair.......it goes up!

(As you can probably tell.....I'm having a bad day )

Roll on the day when I discover a trading strategy that works! (I have asked Santa for one but don't hold out much hope!)

Seasons Greetings to all

Carl

Check out my Blog DailY FX Recommendations.

 

[t2wfx]

You lose, not because the market has taken the opposite direction to your trade but simply because you don't know how to trade.

Bullseye!

 

[uexkuell]

No I am sure you are wrong! It would seem the market really knows when I go long and when I go short and be specifically out to get me

It may sound strange but I think you are absolutely right with your feeling, just not with the word "me" at the end.

and me alone!

That's the part where you are surely not right.


It really is about psychology: The real big boys have several ways to know where the small traders have their positions. And they know where their stops are. And they can find out, where they start to panic.

In fact it is just about mass psychology. Just think about what would be the best way to find out how the big part of people is thinking: You put some money into founding an online broker and there you get your priceless information about small money positions and reaction patterns from. It is like a big continuous poll.