loading...
Question resolved! You can't answer the question
 

Answers

0

Votes

Thumbs up Thumbs down

If you are looking for a system you can try Henry's news trading system.

by
Harold
Harold
1 year ago

0

Votes

Thumbs up Thumbs down

Me too in research of this. :)

by
thegreeks
thegreeks
1 year ago

0

Votes

Thumbs up Thumbs down

The best strategy systems are those that mitigate the the initial risk of Forex trading.

As an Example, I used ForexMentor for a number of years, then started scouring the internet for Henry Liu's video's, fee trade news and the alike. I'm an engineer, so technical analysis comes as second nature to me, and allows me to execute complex indicators as UNDERSTANDING what the indicator is giving you as a read is nothing more than a manulupation of price action. That being said, I turned my attention to fundemental trading as I found through my research that the market is more volitile initially, put provides a greater than 72% trade due to news. Secondly, I don't particularly enjoy having a position open while I'm not sitting at the PC to close it out manually.

In conclusion, I have been in the FX game for about 6 years now, most of those years doing NO TRADING. Just hours and hours of research.

Don't just stop at research with the market, but also brokerages, how the internet works, the general mechanics on how a trade is executed.

There is just so much to learn, but what has made me a stonger trader is understanding the whole dynamic of FX, technical indicators and lastly, how the news drives the trends. IMO, if you've never traded before (meaning in realtime, not moving a 401K fund to higher or lower risk) then you need to work with a mentor!!!!!!!!

Having a mentor mitigates risk. They have done much or the R&D for you, typically they have a intuitive nature as to the future trend just by watching charts all day and night.

By no means should you invest in an EA...EVER.

by
Tyce
Tyce
1 year ago

0

Votes

Thumbs up Thumbs down

There are many indicators and systems on the internet. I think there are more than a thousand indicators and probably as much as many systems. If you have been searching long enough, you would have known that by now. They are either free, cheap or costly. The question is do they work? The answer to that is while some of these systems work, you cannot expect them to be fool-proof. I believe your success lies in your discipline and good habits.

First I would recommend you to study the basics, and if you have learned this already-- well, good. The next thing is if you want to balance technical and fundamental analysis, learn by digging into the details. For example, what are technical indicators for and what do they signify before stacking them up in your charts. What are salient points about fundamental analysis and why does it move the market? For example this morning, a negative fundamental for Canada's core retail sales move the USDCAD up by about 115 pips. The move up was triggered as news was released. (By the way, I received that alert from Henry's free news alert when I opened my email this morning. It's a good tip. :) When the market pulled back after the sudden spike, you still have opportunity to enter long.)

Somebody said that forex is a job that you need to work hard on. While forex trading can be a pathway to freedom, you need to learn the ropes and be dilligent in cultivating your skill so that eventually you can design a consistently winning strategy that you can use to your satisfaction.

You can also look for good mentors who can impart their experience and knowledge to you and learn from them.

by
fxpie
fxpie
1 year ago

0

Votes

Thumbs up Thumbs down

As far as I am concerned, there isn't a piece of software code that can predict a three trillion market, better to avoid EA's and indicators. :)

by
thegreeks
thegreeks
1 year ago

0

Votes

Thumbs up Thumbs down

from our exclusive forward test, i can say megadroid & fabturbo produced consistent results so far. so, its better try to run yourself on demo for some future period then decide. think abt the disclaimer and im not a promoter for those things. its a cautious advice with the attaache disclaimer

by
thegreeks
thegreeks
1 year ago

0

Votes

Thumbs up Thumbs down

Forex trading is tough if we refuse to learn.

We simply cannot depend on a mechanical trading system or indicator to survive in the market.

A trading system or indicator will be very expensive is it really work.

Therefore, I can't really recommend any thning to you here. There is no short cut or lazy way to success.

by
Kingpin
Kingpin
1 year ago

0

Votes

Thumbs up Thumbs down

It is better not to go for any Expert Advisors as they are completely based on charts and anything can happen. If you don't want to watch charts all day go for swing trading/long term trading. YOu can also trade news instead. As I have seen many of these EAs I found they do not get the results as promised while selling.

by
Suneetha
Suneetha
1 year ago

0

Votes

Thumbs up Thumbs down

So for I haven't see any yet being the best. However, Henry's Trade the News make very logical sense. If you have good enough, big enough capital and guts to trade 10 standard lots $1Million. You might able to make some serious coins every month by trading 20+ times and making only 20-30 pips with 70% winning probability. Just my 2 cents worth of opinion. Cheers!

by
Warren
Warren
1 year ago