The Ultimate FX Predictor
- Thread starter Olly79
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jammie
Power Member
- Feb 24, 2008
- 773
- 459
no forex system is 100%, or anywhere near.
And trust me, in the current climate, you really, really, don't want to be trading forex or any leveraged products for that matter.
but by all means go ahead!
Chances are its a shit system though. Unless it involves personal 1-2-1 coaching for atleast 3 months, i wouldn't look twice at it!
And trust me, in the current climate, you really, really, don't want to be trading forex or any leveraged products for that matter.
but by all means go ahead!
Chances are its a shit system though. Unless it involves personal 1-2-1 coaching for atleast 3 months, i wouldn't look twice at it!
mattstrike
BANNED
- Sep 29, 2008
- 236
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Just my .02, but when it comes to FX, a person needs at least one of the following if they are looking at day/swing trading: Either a really good handle on technical analysis and what it means, a membership to a trading club that gives good "calls" based on solid analysis (but those are not cheap).
Beyond that, though, I think that personality may be the most important thing. The most successful FX traders I have known are very detached when it comes to the trading. They do what their models tell them, especially when it is time to get out of a bad pair. Those people that I know that have gotten in to FX that play hunches, and especially those that hold a position long after their model indicates that they should have bailed, because they "feel" it will turn at any moment - those people lose breathtaking amounts of money very short periods of time.
Beyond that, though, I think that personality may be the most important thing. The most successful FX traders I have known are very detached when it comes to the trading. They do what their models tell them, especially when it is time to get out of a bad pair. Those people that I know that have gotten in to FX that play hunches, and especially those that hold a position long after their model indicates that they should have bailed, because they "feel" it will turn at any moment - those people lose breathtaking amounts of money very short periods of time.
smileplease
BANNED
- Sep 29, 2008
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Could anyone explain what "forex" is?
jammie
Power Member
- Feb 24, 2008
- 773
- 459
there is no "holy grail", no system will ever work well. If your an economist, fundamentalist or a technicalist, you'll never win! So whats the other option?
Well ... thats why only 5% of traders win
All i'll say is, maths, and more maths. Not in a technical analysis, just some things in nature have more order than meets the eye. The same applies to markets.
If i knew now what i knew this time last year, i wouldn't have lost so heavily in the economic environment we're in at the moment. Ahh well, life goes on!
Just a note to all those who are searching for a system; stop. please. You can't predict the future based on the past. Technical analysis (although i agree it works) is no basis for any system. No one can tell what will happen tomorrow or the next day, so fundamental and economic analysis won't help. Look deeper than this. You'll find something.
Well ... thats why only 5% of traders win
All i'll say is, maths, and more maths. Not in a technical analysis, just some things in nature have more order than meets the eye. The same applies to markets.If i knew now what i knew this time last year, i wouldn't have lost so heavily in the economic environment we're in at the moment. Ahh well, life goes on!
Just a note to all those who are searching for a system; stop. please. You can't predict the future based on the past. Technical analysis (although i agree it works) is no basis for any system. No one can tell what will happen tomorrow or the next day, so fundamental and economic analysis won't help. Look deeper than this. You'll find something.
I disagree on this. Fundamental analysis together with a little TA like supp/res levels combined with an RSI DO work. Dont talk of mathematics. The brightest mathematicians were hired by the major NY and London investment houses and they all went flat on their balls. It's like Sir Isaac Newton said:" you can't argue with physics" In Forex: "you can't argue with fundamentals......And by the way, the main reason hat 95% of all traders lose is b/c of over leveraging.....
Think about it
Regards
Think about it
Regards
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billyjean65
Junior Member
- Jul 24, 2008
- 197
- 7
i believe no forex system is 100% so many variables that can be predicted and the majority cant....
Right on BillyJean, but i know some forex methods (programs do not really exist) which have shown correct over the last 3 years. And I repeat it's just a method based on fundamentals and a tiny bid of basic TA. I don't know whether you are an experienced dealer or not, but if you need more info please feel free to PM me and let me know your experiences so far. Oh and btw, I am not trying to make a buck out of you. All free info.
Kind regards
Kind regards
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Whisker
Senior Member
- Dec 26, 2007
- 841
- 1,335
there is no "holy grail", no system will ever work well. If your an economist, fundamentalist or a technicalist, you'll never win! So whats the other option?
Well ... thats why only 5% of traders win
Where on earth do you come up with these statements? Fundamentalist traders can filter out a lot of the sideways movement in the market where a majority of losses occur by sticking to conservative trends and nailing their entry and exit points.
My indicators have been wrong 5 times in the last 68 trades, so how do you account that I(and others taking the same approach) are not winning? I ask you to at least backup your unsubstantiated claims with SOMETHING before you start throwing around percentages like confetti.
wakkaoaka
BANNED
- Sep 14, 2008
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Well, i know jack all about forex. Hope to research it in the new year. One of my friends apparantly earns $40 a day from a forex system, i wont take his word for it though. IMO i would rather learn how forex works, what happens with exchange rates in the short term and long term. What sort of trade deals are going on, and current events. It does NOT matter if we are in recession or not. Money is constantly being flung around, you just gotta know enough about the game to be able to predict where the money ball lands.
chaser
Regular Member
- Nov 30, 2007
- 209
- 40
Starting from appoximately 170th page a guy tested automated advisor, some interesting reading there
http://www.trade2win.com/boards/forex-strategies-systems/30722-concept-forex-177.html
http://www.trade2win.com/boards/forex-strategies-systems/30722-concept-forex-177.html