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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 look at forex 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 millione.. oh no a TRILIONE. Why? Because you can repeat the process again again leverga it more 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. 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 rom 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 rom. If you look at forex closely you see that market moves in patterns or trends but if you look at it a wider view the market is just a rom 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 rom 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 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 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
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Absolute garbage advice an obviously inexperienced novice!
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Originally Posted by jgerousis
traders have been trying for a long time to beat the forex
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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
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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.
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Trading playing roulette in a casino have no similarities.
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Originally Posted by jgerousis
Do not tell me that forex is not rom.
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The forex market is not rom it may appear rom 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 rom 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.
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It may seem like that to you because you haven't developed the skills necessary to underst how the market prepares for reacts to fundamentals.
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Originally Posted by jgerousis
This is why people say that all systems in longterm LOSE.
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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
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Spread should not be your first consideration fills 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
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Asking for low/no spread no commission is asking for trouble. Marketmakers have to make money too if they're not getting it spread /or commission then the chances are they're getting it you in other ways.
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Originally Posted by jgerousis
Use good exit strategies in winning trades (take profits)
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No really!
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Originally Posted by jgerousis
Use wider stop trading.
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Use stops appropriate to the time frame being traded market conditions 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.
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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 straying 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
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If the tips on your site are anything like the rubbish you've posted here then I wouldn't bother!
Stick to selling babies nappies would be my advice to you Abu you've a long way to go before you can call yourself a trader! I thought you would have got the message after being ripped a new one over on
this forum thread
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