Anyone know anything about forex?

11 replies
Found 3rd Jan 2011
OK I'm begining to get a little paranoid here, I had a little venture into the forex market recently, I had done quite a bit of research and looked into all the different strategies etc, but, why is it that every, and I repeat every time I enter a trade it turns against me????
I can fully understand I'm inexperienced etc, but when I follow every guideline, indicator, signal etc advised by people and systems far more experienced than me IT STILL GOES AGAINST ME!!
Can someone give me a few tips before I lose my marbles?
I don't know where I'm going wrong, a friend of mine makes a fortune through forex so why can't I?

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11 Comments

Ask your friend?

Original Poster

I have but he won't tell me?! Well I suppose thats a bit glib, he tells me he just works a certain way and it works for him, in other words, yes, he won't tell me??!!!
Edited by: "cycleman" 3rd Jan 2011

Banned

You need to use the weight of the spread to your advantage and bet before the turn and not after it...if you are highly geared for quick trades
Edited by: "slamdunkin" 3rd Jan 2011

Banned

how much per point are you betting...the bigger the stake the quicker you need to close when it goes tit's up....use a smaller stake and look to the longer period. so the smaller fluctuations don't mean you have to close out.

Original Poster

slamdunkin

You need to use the weight of the spread to your advantage and bet before … You need to use the weight of the spread to your advantage and bet before the turn and not after it.


But how do you know where the turn is?

Banned

what level platform are you using Level 2 or DMA (direct market acces)?

Original Poster

slamdunkin

what level platform are you using Level 2 or DMA (direct market acces)?


I think DMA I work through worldspreads

Banned

world spreads will be a level 2 futures trade...so quite a big spread.

if you betting in a short term, small hourly cycle then look at the trends in minates, hours and days....let the trend be your frend, look to follow the overall trend, but weight for the right entry point, by using an opersit direction to the trend so your not always having to pass your spread.

Banned

Cycle...if you plan on risking quite a few bob on this, then get yourself to a seminar and learn from a pro. they will teach you how to find the best pairs, how to read candle sticks and other indicators...but most importantly, how to developer an instinct...money well spent.

Have you tried playing a virtual game yet?

cycleman

I have but he won't tell me?! Well I suppose thats a bit glib, he tells … I have but he won't tell me?! Well I suppose thats a bit glib, he tells me he just works a certain way and it works for him, in other words, yes, he won't tell me??!!!



Well he aint a real friend then, or he is lying about makiing a fortune!
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