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Originally Posted by jgerousis Many traders have been trying for a long time to beat the forex. It is not easy. If someone comes and look at forex and how prices move, he would say it is easy. But it is not. It is very difficult, it is even difficult to make 1 pip! In forex you cannot have a guaranteed 1 pip. If someone does have a system to make a 1 pip "guaranteed", I will make him a millionaire.. oh no a TRILIONAIRE. Why? Because you can repeat the process again and again, and leverga it more and more! But this 1 pips guarantee is impossible.The main barrier to achieving this is the EDGE. Forex has an EDGE over us, the traders. Take for example the casino. Take the roulette. The edge in the roulette is the green zero, when playing on colors. And when playing on numbers, the edge is the payout. In Roulette there are 37 numbers. But if you guess the number you will win 36 to 1. Taking for granted that the outcome of the game are random numbers, then if you play for longterm you can never win. The same happens when betting on black or red. You get paid 2-1, but if the outcome is green, you lose!The same thing happens in forex. Do not tell me that forex is not random. If you look at forex closely you see that market moves in patterns or trends, but if you look at it from a wider view, the market is just a random market. NO ONE knows the outcome, even Bernanke. Because how traders act towards news, only God knows.Now, the Edge in forex market is the spread. Because everytime you enter a position pay for the spread. Before making any winning, you will have to counter this spread. If we suppose that we do a million random trade, we would not end up breakeven, but losing. This is why people say that all systems in longterm LOSE.This is a fact. But, one should be clever enough to come up with ways to eliminate this edge.The following are some suggestions and ways to eliminate this edge, which forex has over you.
1. USE a dealer which gives you the least spread available in market
2. USE a dealer with no comission
3. Use good exit strategies in winning trades (take profits)
4. Use wider stop trading. This is an important issue. Because according to above, you will tend to end up losing the longer or the more you trade. It is better to trade less and win more. For example, if you acheive your target for this month, you should stop trading until you see the conditions are favorable again. The less you trade the more chance you have to end up in profit.
5. Every pips counts. Try to save pips. See my previous tips on my site
60 enter only low risk to reward ratio trades |
Absolute garbage advice from an obviously inexperienced novice! Still trying to get hits on your adsense website huh Yanni? Geez you must be really desperate for a few cents! Quote:
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Originally Posted by jgerousis traders have been trying for a long time to beat the forex |
The forex market is not an opponent to 'beat'.
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Originally Posted by jgerousis In forex you cannot have a guaranteed 1 pip |
Trading is not about 'guarantees', it's about probability.
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Originally Posted by jgerousis Take for example the casino. Take the roulette. |
Trading and playing roulette in a casino have no similarities.
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Originally Posted by jgerousis Do not tell me that forex is not random. |
The forex market is not random, it may appear random to you because you have not mastered the skills necessary to read it. It's a bit like a child learning to read, words must look like a jumble of random letters at first until they master the skill of reading.
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Originally Posted by jgerousis how traders act towards news, only God knows. |
It may seem like that to you because you haven't developed the skills necessary to understand how the market prepares for, and reacts to, fundamentals.
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Originally Posted by jgerousis This is why people say that all systems in longterm LOSE. |
I don't know any
experienced trader who says that.
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Originally Posted by jgerousis USE a dealer which gives you the least spread available in market |
Spread should not be your first consideration, fills and slippage are far more important. There's no point in having a 1pip spread if you can't get orders filled, or filled at the price you want. It's a bit like a shop offering a PS3 for $9.99 but they never have any in stock!
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Originally Posted by jgerousis USE a dealer with no comission |
Asking for low/no spread and no commission is asking for trouble. Marketmakers have to make money too, if they're not getting it from spread and/or commission then the chances are they're getting it from you in other ways.
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Originally Posted by jgerousis Use good exit strategies in winning trades (take profits) |
No, really!
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Originally Posted by jgerousis Use wider stop trading. |
Use stops appropriate to the time frame being traded, market conditions, and your strategy. Wider stops do not fix poor trading decisions. Always use sound money management principles.
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Originally Posted by jgerousis if you acheive your target for this month, you should stop trading until you see the conditions are favorable again. |
Don't set yourself daily or monthly targets. If trading opportunities which fit your criteria present themselves then trade them. Just because you have set yourself a target to meet it does not mean the market will oblige, you run the risk of overtrading and straying from your planned strategy just to meet some meaningless target. Targets add unnecessary pressure, you can only have what the market is prepared to offer.
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Originally Posted by jgerousis Every pips counts. Try to save pips. See my previous tips on my site |
If the tips on your site are anything like the rubbish you've posted here then I wouldn't bother!
You've a long way to go before you can call yourself a trader! I thought you would have got the message after being exposed as a serial spammer and ripped a new one over on
this forum thread
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