I am sure many of you have heard the phrase or saying - there is no need to take any courses - everything you need to learn to become a successful FX Trader you can learn for FREE off the Internet.
In a "nutshell" - it could be looked upon as being true - the trouble is though - you are going to end up kissing a lot of frogs before you end up meeting your prince or princess ;-)
Nobody really wants to waste money on their learning journey - but unfortunately it happens to so many newbie traders
FX Retail Traders - 2016
% Breakdown of those who make it and those who don’t
Estimated % of Winners –
Minimum consistent winners who manage to make profits both monthly and yearly -
3 -5% - (Independent estimates)
Maximum number of consistent retail winners who make profits monthly ongoing -
22 – 28% - (Broker / trade estimates )
My own personal view based on other independent statistics and spreadbetting stats –
11 – 15% of all retail FX Traders may be profitable on a consistent
Double Top
#5 Most Important Forex Chart Patterns for ForeXmospherians in the Foreign Exchange Markets
1. Double Tops, Double Bottoms, Treble Tops, Treble Bottoms:
These are found at a Price Peak and S/R identified, the price structure indicates a market reversal of the trend is probable. The Price peaks then swings with a peak again reaching S/R. Finally S/R is breached confirming the reversal with an entry point or market bias signal (depending upon Time Frame available).
Double Bot
Share a Trading Tip, Trick, Knowledge or Technique with the Community. Try to avoid just simply posting a link or video and saying this is great. Explain what makes it great or how this was useful. Sometimes things are simply entertaining but still useful and so explain in detail with diagrams, photos or charts. Descriptions with as many details are always interesting to read and so say what could be useful to know here. Community members are welcome to comment, ask questions or add to a post.
"Keep a Record of the Business or Currency Pair Traded. Reasons why the Trade was taken. When was the Exit. How and why the Trade turned out the way it did"
"It's my pleasure to be part of this forum, which is always different than other places & with a friendly environment. Glad to be in this team"
"Yes, the truth requires neither our belief nor understanding. However to harness truth and apply it for our benefit we must at a minimum allow that it is possible".
"We all know we will never be 100% Accurate with 100% win rate over 100's or 1000's of trades - but as long as your winning pips and money - add up to a lot more than your losing pips and money - then "Bingo" you are successful winning FX trader"
"I figured this was a legitimate break, so I went on the hunt for evidence, so here in succession is the list of clues I used to make my decision:
Rejection of market and weekly pivot at ema confluence.
Complete and broken head and shoulders on 1hr time frame.
Broadening formation on daily with test and rejection of 200 day ma
Bull hinge on daily and Renko stochastic.
Positive momentum on 5min, 1hr, 4hr and daily chart"
"Remember that all models are wrong; the practical question is how wrong do they have to be to not be useful" - George E. P. Box
"Sometimes You Win,
Sometimes you Learn".
"Forex Market analysis relies on two types of analysis much like Stock Markets:
Technical Forex Market Analysis views the data on a chart and considers that the News and Data is built into the Price already (economic, political, social, sentimental and psychological). Various tools and indicators will be used by technical traders, for instance MACD, Bollinger Bands, Moving Averages and more.
Fundamental Forex Market Analysis also uses indicators, for instance reports, Gross Domestic Production (GDP), Retail sales, Consumer spending, Industrial Production, Consumer Price Index, Commodities, Economic Calendars, Balance of Trade levels which could identify Trends between other Nations and more."
"Short rapid bursts and quick glimpses of an entry, trigger activated, trail in place and exit strategy and plan already set. Within a blink of an eye, instinctively the buy/sell button is pushed. The hammer falls and clanks decisively, echoing, sparking, like steel upon steel and the trade is executed. A Traders heart beats on with perfect set up, closely aligned with strict parameters, ready to continue the attack or recoil on a wire. Wrap the profit and then stand down, ready for the next hunt"
"When we are talking about sentiment it is very hard to say that this sentiment will prevail another 6, 9, 13 hours. Sentiment is not a constant line. Main trend is bearish, tech picture on daily is bearish, even intraday neutral. Nobody restrict to play long eur short usd position with the target at 1.12 or even 1.1361, this is every traders individual choice as always"
