This is the holy grail!!!

[MickMason]

lol, yup, that would do it

[TRADE]

so in light of what Dr. Zogg and I have said, all the points raised and answered prior really do not matter a great deal, I suppose it would be fair to say that the combination and application of any of them will only make up the remaining 20% of the whole.

its a good start to put you on the right track to profitable trading, open a trade at random, and then decide if your direction is correct, if you can determine whether you should exit with 80% accuracy everything else will fall right into place. after all if you are 80% sure that you should exit, maybe it would not be such a bad idea to reverse your position.

price + activity tells everything.

[MickMason]

Not sure I'd advocate opening trades randomly, there are many ways to determine probable direction, some more effective than others but most are marginally better than a random guess.

The idea of random entry and reversing position if wrong could have disastrous results in a ranging market!

[buckeyefan]

The only sure thing in trading is using effective money management and having the proper discipline to stick to a system. In my opinion, Discipline is the holy grail.

[goldbug]

Pay for and download the e-book Bird Watching In Lion Country..Retail Forex Explained. My success rates went up unbelievably after I read it.

I am in no way affiliated with the author, but I firmly believe this is the best book I've ever read concerning Forex and how to trade and still be trading profitably 20 years from now.


Goldbug

[golhuntsleep]

Learn the importance of PHI and phi. Study Fibonacci theroy and it's effect on Human nature enmass once you can convince yourself that currency movement is mathematical, not random, you will be on your way...... Trade Longer timeframes for the most part........I trade 1 day, 1 week, and monthly charts.....IF I'm really bored I will look at a 1 hour for an adreniline rush.......

[TRADE]

trading forex or financial markets is very similar to trading anything else, buy it cheap and sell it expensive for a profit. given the sometimes violent swings in price movement for financial instruments like forex the trader needs to pay greater emphasis on risk and money management.

example - ipods may sell on ebay for $100, i know with a very high degree of certainty that if i could buy them for $75 elswhere, i could almost gaurantee a profit. the only factors which would determine how much if not at all the amount of profit I would make depends on the amount of time they are on the market for, apple reducing the rrp of them due to new products being released, greater supply etc or ebay raising their selling/listing fees.

with financial markets a trader must with a certain degree of accuracy determine himself what the intrinsic value and percieved value is at that given period of time based on what the asset has done historically. everything else is money and risk management. if you determine that a currency pair is cheaper than what it has sold for in the past, buying it should yield a profit, again given enough time and sufficient risk management...

everything else is BS in my opinion..as this is the only way i know how to do it.

regards to all

[MickMason]

Originally Posted by goldbug

Pay for and download the e-book Bird Watching In Lion Country

Alternatively download it for free and decide whether it's worth buying, if it is then pay for it