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- ForexCoach replied Jul 17, 2007
I think what it comes down to is that most people lose more money than they can afford to lose. They've "bet the farm" if you will and its an all or nothing situation. Emotions run crazy...and thats why its so important to treat trading like a job. ...
- ForexCoach replied Jul 17, 2007
It's all relevent to your mentality of the market. If you refer to a profitable trade as a "win", you are probably more likely to be emotional when you trade. This is not a trip to Vegas, folks! Forex trading is NOT gambling, however, some do treat ...
- ForexCoach replied Jul 16, 2007
There still appears to be many misunderstandings where this strategy is concerned. The confusion seems to be not only why this stratgey works, but how to implement it. Those that do not understand how it is implemented, assume it is a ...
- ForexCoach replied Jul 12, 2007
Your assumption would be true, if I was placing a buy on both pairs at the same time. You're completely missing the whole strategy of buying both pairs and honestly, we are not even arguing the same point.
- ForexCoach replied Jul 6, 2007
mrmikal, What do you think "mirror each other" means????? It's reference to a reflection....like looking in the water..... You see the trees on the land and the reflection of the trees in the water is the exact opposite. The word "correlated" simply ...
- ForexCoach replied Jul 5, 2007
The true benefit of this strategy is always missed when a discussion arises. Yes, trading EUR/USD and USD/CHF is technically the same as buying EUR/CHF, HOWEVER, buying EUR/CHF has NOTHING to do with the strategy of buying the pairs INDIVIDUALLY. ...
- ForexCoach replied Jul 3, 2007
I always hate to disagree with people, but in this case, I must. Those who think trading a 5 minute chart is like shooting craps, simply doesn't know HOW to trade a 5 minute chart. Personally, I love trading a 5 minute chart and do so every day. ...
- ForexCoach replied Jul 2, 2007
YES! Using multiple monitors, especially when trading shorter time frames is extremely helpful.
- ForexCoach replied Jun 30, 2007
I agree with you 100%. Why waste your time trying to convince someone else you can trade successfully and make a fraction of what you could make by trading on your own????? Also, consider the psychological factor.......you will trade differently, ...
- ForexCoach replied Jun 30, 2007
The other thing to remember is that even though you may think you know and understand fundamentals, the market still ultimately decides on its own which direction it will move. For instance.....a report is released, should be pro $, but the $ still ...
- ForexCoach replied Jun 27, 2007
Picking the correct time frame to trade with is crucial to the success of any Forex Trader. Each time frame represents completely different trading opportunities and it is important to understand how to put each time frame into perspective.
- ForexCoach replied Jun 27, 2007
I utilize MACD, but as already stated, a 4 hour chart needs lots of patience without expecting to trade daily. I do, however, use the MACD along with a couple of other indicators that works very consistently. 300 PIPS a month is a piece of cake.
- ForexCoach replied Jun 21, 2007
I utilize it myself and am quite happy with it.
- ForexCoach replied Jun 21, 2007
I definately recommend trading by yourself, as well. It may seem like it makes sense to pull funds together to create a larger balance to begin trading with, but as you found out, two sets of psychology can never mesh as one. If you are left with ...
- ForexCoach replied Jun 21, 2007
I don't know if practical is the word.......but yes, it can be done. You can trade on any time frame successfully, but knowing that you can make more pips utilizing other time frames, why would you limit yourself to just trading on the daily chart?
- ForexCoach replied Jun 21, 2007
I have traded full time for 4 years now and I agree with TRT....... REALITY must be a part of your trading strategy! Most who have not yet made it to a full time trader status trade based on possibilities, as apposed to good ole' fashioned ...
- ForexCoach replied Jun 20, 2007
I have been a full time Forex Trader for 4 years. I am in EST, so it is easy to trade the US Economic Reports. As far as when is the best time to trade....it really depends upon your strategy and style of trading. I don't limit myself to specific ...
- ForexCoach replied Jun 5, 2007
Yes....agreed..... This is one of the simplest ways to hedge the market....and make it work. Close when its high and reopen when its low again and then switch. If you use pivots, supports and resistance, this is an EXTREMELY accurate and simple way ...
- ForexCoach replied Jun 5, 2007
Hedging strategies have always created alot of controversy. Most who do not understand them think its impossible to come up with a hedging strategy that actuallyworks. I created one about 4 years ago and have used it daily since then. Hedging is a ...
- ForexCoach replied Jun 5, 2007
I have been using a 5 minute intra day strategy for 4 years and find it to be one of the most simple and most accurate ways to trade. Its all about the indicators you use and how you visually "see" the market. Moving averages, along with pivot ...