A question for the experienced few "truly" successful traders out there...

[ampris2000]

you can have valerie do your trades for you.
http://www.roidworld.com/prod19.htm

[MickMason]

Originally Posted by Coral Shores

Forex will likely still be full of scammers.

lol probably!


.

[MickMason]

Originally Posted by ampris2000

you can have valerie do your trades for you.
http://www.roidworld.com/prod19.htm

Cheap at $55 a finger is all it takes!

[cornellj]

SoundFX

When you posted your question I recognised your final realisation as basically what my strategy involves. The simpler it gets the better the profits. My clestick charts are bare except for two moving averages. No other indicators. I use time frames of 1hour 1 day trade only the USDCHF EURUSD.

I have access to a lot of market information but it serves only as a general idea of what might happen. Remember not what IS going to happen. Because I can not predict what the market is going to do(although I have an idea based on all the info gathered) I prepare for any eventuality.

I further employ the same principles in trading Forex as in life any other business. What I have learned over the years of doing business applies to Forex trading as well. If you want to be successfull you have to work at it. Success does not come by itself you have to put in the studying training strategy development finally the correct application before you will have success. The reason you are now successfull is because you have gone through all these phases.

I am not a gambler but I am willing to take bets on new entrants into this market not being successfull at first after any training course out there no matter how much they paid.

The practical application still requires years to perfect.

PS. I enjoyed reading your thread because there is a wealth of information here for anybody who wants to sharpen their skills.

[soso_beton]

CornellJ I am not a successful forex trader but I also use a few moving averages - as dynamic support/resistance when price is near them as magnets when price is far away them.
If it's ok with you how do you use your moving averages? what MAs do you use?

Thanks
-soso

[cornellj]

Originally Posted by soso_beton

CornellJ I am not a successful forex trader but I also use a few moving averages - as dynamic support/resistance when price is near them as magnets when price is far away them.
If it's ok with you how do you use your moving averages? what MAs do you use?

Thanks
-soso

Hallo Soso

I do not really use the MA's I use a 5 21(Fibo numbers) EMA on the hourly charts to not make it look too bare. They will give a good enough signal to trade with. For me they basically confirm a trend after I am already into the trade. I decide mostly in advance at which price I am willing to enter the market then wait for the price to get to my point of entry. For my entry points I will look at forward open orders Fibo levels supports resistances the entry point relation to my other trades. Mostly the MA's follow behind the trade(as all indicators do). The MA's are of more use as exit points than entry points for me. For instance during today's trend I made 261pips on the EURUSD mostly because I had already taken positions on the p as the price came down 1.23. The MA's did not help me with the trade today.

If you develop a stategy for yourself do not rely on any single indicator or system but develop a strategy plan for every eventuality. Read my journal you will see what I mean.

[soso_beton]

CornellJ your core strategy is based on hedging EURUSD using USDCHF?

-soso

[cornellj]

Originally Posted by soso_beton

CornellJ your core strategy is based on hedging EURUSD using USDCHF?

-soso

Trading USDCHF hedge with EURUSD.