i am a rookie.. i started to research this crap 3 days ago but in short
1:40 leverage
using the pivot system s1,s2,p,r1,r2 with the macd and EMA 9,18
my question is this
is my method of using a one hr and 5min chart sufficiant??
if so and you are familiar w/ what i am doing
could ya give me a few pointers???
i am going to start a real account with 200 cash i know it is not much but in my practice acount of 100k i am only wagering 0 dolla at any given moment so far by using 0 i gained 4 dolla in 3 days is that good??? who cares about dollers i know 4 dolla is crap but is the % decent???
thanks 4 any help
Additional Information - Forex Trading: I Like to start a micro account with 25$.I wil be happy if i earn atleast some 1 or 2 $ a day,? are there any chances that i lose al my money..that is 25$??? advice me please... i am a student and i wont be available during day time..so i cant trade myself in shares.. so i opted for forex for now.. but which is having more chances..losing 25$ easily or gaining......
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5 Comments on “forex trading method????.?”
dredude52 26th October 2009
Save your $200 and trade the simulator for free, until you have enough data to see a trend. Three days is squat, meaningless.
You should trade the simulator for at least six months while you learn. Don’t get in a hurry to lose money. When you begin to make "virtual" money, then you can open a live account and risk your own.
There are literally thousands of indicators. You have to decide what works for you, and it will take you years to try them all.
Try instead to decide your time frame, and your risk level, and learn good money management techniques, then maybe you’ll stick around awhile.
Or just jump right in there and blow your $200, then come back here and blast us all for how risky Forex is and how it can’t be done and what a SCAM it is.
Here’s the Forex simulator game called PriceMotion
http://www.expertworx.com/pm/Forex%20Market%20Educational%20Game.htm
http://www.tradingeducation.com/forex_trading_primer.asp
There are also great resources for Forex at Investopedia.com
Here are some others
http://www.premieretradeai.com/
http://www.forextv.com/FT/Video.jsp?channel=41
http://umgarticles.atspace.com/forex-trading.htm
http://www.fxstreet.com/rates-charts/usdollar-index/
http://forex.tradingcharts.com/
http://www.dailyfx.com
http://www.forexbastards.com
iceref 26th October 2009
We have lots of information in our forum with charts and weekly pivots,I would suggest sign up its free and read through the postings also I would use wma instead of ema’s.Thanks and good luck.
http://stockstoshop.mywowbb.com
The Advocate 26th October 2009
A fool and his money soon find a way to part !
stock.geek 26th October 2009
Hi, i suggest a great site with plenty of Issues related to your investing and everything around it. it also provide clear and accurate answer to many common questions.
I am sure that you can get your answers in this website.
http://investing.sitesled.com/
Good Luck and Best Wishes!
Charlie Mike 26th October 2009
Sorry but forget about percentage. Unless you are just going to do a big one and never trade again for the rest of your life. What i mean is this, if you make a trade a day, 1 yr you will be making maybe 200 something trades. If you trade 2 a day. You are going to trade 400times. Let me ask this, How long are you going to last with $200. With a loss or stop loss of say $20, 10 times and you are out. So there are 2 ratios that you must improve. One more important than the other. 1. Win/Loss [trades] 2. Win/Loss [$$$$]. Win/Loss [$$$$] is more important. You can lose more times but if you win $$$ more , you will still come out positive. Win/Loss is about Money Management. That is more critical than trading techniques which people tend to over rate.
So trade with the big picture in mind, 400 trades a year. At what ratio do you need to make decent money ? And what do you need to make that ratio ?
Learn more and demo more. Before you sink in money. Becasue before you know it its $200 here, $200 there, and in time its a $2000 loss if not $20,000. There is fine line between trading and gambling.
For more help @ http://www.geocities.com/lcming/Forexbooks