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- KelvinLee replied May 25, 2010
Just to share with you my own setting. For my lower time frame chart, I will plot a daily pivot and for the daily time frame, I will go for weekly.
daily or weekly on the pivot points?
- KelvinLee replied May 25, 2010
Personally I think that 3 weeks is too short to come to any conclusion. Continue to use your strategy to trade demo for another 2 months and if you are able to have the same results, you can then move on to live trading.
How harder is live trading?
- KelvinLee replied May 17, 2010
There are so many opportunity in the forex market and if you want to trade all of them, you will not have a proper family life. I only trade for at most 4 hours a day and I do it at the London session which is the most volatile for the currency pair ...
How many hours do you spend in forex trading per day?
- KelvinLee replied May 17, 2010
Trading currency is never a 50-50 game. With the spread on hand, you are already losing when you enter a trade. Do not forget that the market can move sideway instead of up and down and this again reduce your probability to less than 50.
Why do Newbies Lose?
- KelvinLee replied May 17, 2010
This is a statement that is cranked up by advertisers and product owner to tackle the psychology of consumers.
Who made up the title "holy grail" in the forex world and does it even exist?
- KelvinLee replied May 17, 2010
It sounds like you do not have a trading strategy on hand that you are confident with and you are already planning to open a live account. My personal suggestion will be to open a demo account and then practice on a few strategies that you like and ...
Trading strategy for me
- KelvinLee replied May 17, 2010
When I started trading a few year back, I was wiped out of my account twice in a row and that was demoralizing. However I decided to put in more effort to learn the skill to trading and today I am making profit every month. That does not means that ...
Do you make a profit up to now?
- KelvinLee replied May 10, 2010
For me, as long as the price move below the 0.618 level, it will be considered as a reversal.
How do you differentiate between retracement and reversal? (In fibonacci)
- KelvinLee replied May 10, 2010
I cant really advice you on any education roadmap as I believe each one of us learn things differently. However below is how I get started and eventually make a living with currency trading today. Step 1: I read up on the basic of forex from a book ...
Education road map?
- KelvinLee replied May 10, 2010
As for me, I know that I am a trader when I am able to produce consistent profit on my demo account for six months in a row. The most important of all is that I have a trading plan and I have the discipline to stick to it. However this does not make ...
You know you are a trader when.....? (Serious answers please)
- KelvinLee replied May 3, 2010
It will be 1) Mindset 2) Strategy 3) Discipline 4) Risk Management
the Major problems for forex traders?
- KelvinLee replied May 3, 2010
Using the MA crossover alone is really like coin tossing. However this strategy can be very useful if you were to add a few more indicators to help you eliminate false signals. You can add a ADX indicator. Whenever you see the faster moving average ...
Question for MA cross system
- KelvinLee replied May 3, 2010
I use the 50, 100 and 200 EMAs instead of 55. I simply use them as a trend catcher. If the 50 crosses above the rest, I will know that it is going to be an uptrend and vice versa.
55/100 EMA System
- KelvinLee replied May 3, 2010
I agree that the trend is your friend but the key lies in your ability to identify the trend at the beginning. If you are entering trades at the last stage of the trend, you will be killed by the reversal. As for buy low sell high, what I usually do ...
Trading Sayings: Fact or Fiction
- KelvinLee replied Apr 26, 2010
There is no best exit strategy in the trading field. The type of exit depends on your trading system. It could be a support level or resistance level or it could be when the MA crosses the other side. In order to derive an exit strategy that is ...
Entry is easy, but Exit is really difficult
- KelvinLee replied Apr 26, 2010
I think that the main reason why new traders are switching from one system to another is because they are looking for the 'Holy Grail' system that produces 0 loss. Even when you have a very good system that can make you money, after producing 1 or 2 ...
Motivation in trading...
- KelvinLee replied Apr 26, 2010
One of the way to detect whether the market is flat or consolidating will be by using multiple moving averages. You can plot a 100, 200 and 400 EMAs on all timeframe. If you see them sloping at an angle with good angle and separation, you are in a ...
I am a victim of flat market :(
- KelvinLee replied Apr 26, 2010
This is indeed a simple and easy to execute system. Thks for sharing this with us.
Odds are with a 4hr KISS
- KelvinLee replied Apr 19, 2010
Hi FXMike $200 is quite a small amount to start with. If you are doing proper risk management which all traders should be doing. You can only trade microlot which is $0.10 per lot size. To turn 200 to 2000 may need about six months at minimum. This ...
It is possible to make 2000 from 200 in Forex? It is easy or very difficult?
- KelvinLee replied Apr 19, 2010
Hi You can try swing trading at that period.
Desperately seeking a good DAILY Trading System