Welcome!
With Forex, knowledge is power!
Come here to join us to gain the edge will give you much much better chance to success!
"The only way to become a professional trader is to obtain that blunt edge of a weapon that separates you from the rest of the migrating sheep." - Mastering the Trade - John F. Carter
We could discuss any currency here and also my aim is to have this thread focused on learning, sharing and teaching.
The objective of this thread:-
1) To help each other;
2) To teach serious people how to be a skilled competent FX trader using all of the tools (fundamentally and technically) needed for success;
3) A place to share experiences, stories and to learn;
4) A place to share trading style & strategy; and
5) A place of friendship and harmony.
In doubt, please try a Demo/Mock account, especially in testing new strategies!
PRACTICE good trading habits so that they become 2nd nature which will lead to your success.
No Spammer, please!
We welcome constructive criticism and well founded discussion. Inflammatory, rude, repetitive, offensive, off-topic or otherwise disruptive messages designed intentionally to annoy, stimulate or antagonize the existing members or alter the flow of discussion are NOT welcome and will be reported to the moderator team.
I will also start a sister-thread as a digest and to store all the cream from this thread and also as storage for all indicators posted for ease of reference.
10 Trading Rules for Successful Traders
1. Limit your losses.
2. Let your profits run.
3. Keep position sizes within reason.
4. Know your risk-reward ration.
5. Be adequately capitalised.
6. Dont fight the trend.
7. Never add to losing positions. Dont average out.
8. Know market expectations.
9. Learn from your mistakes keep a trading journal.
10. Have a maximum loss or retracement in profits.
For beginners, please read this free Forex education material and learn to be a successful trader: www.BabyPips.com
And also you are advised to read these excellent books:
1. Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover) - by Kathy Lien
2. Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment (Wiley Trading) (Hardcover) By Boris Schlossberg
3.High Probability Trading Setups for the Currency Market By Boris Schlossberg, Kathy Lien
You can preview the 1st and 3rd books here:
http://books.google.com.my/books?id=...sec=frontcover
http://books.google.com.my/books?id=...+lien%22&psp=1
The Essence of the 3rd book is here:
1. Never let a winner turn into a loser
2. Logic wins, impulse kills
3. Never risk more than 2% per trade
4. Trigger fundamentally, enter and exit technically
5. Always pair strong with weak
6. Being right but being early simply mean you are wrong
7. Know the difference between scaling in and adding to a loser
8. What is mathematically optimal is psychologically impossible
9. Risk can be and is predetermined but reward is unpredictable
10. No excuses, ever
BEWARE:
Why Currency Trading Is Not For Everyone?
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for everyone. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Remember, you could sustain a loss of some or all of your initial investment, which means that you should not invest money that you cannot afford to lose. If you have any doubts, it is advisable to seek advice from an independent financial advisor.
RISK WARNING: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You may be liable for losses that exceed the amount of margin that you post. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.
DISCLAIMER
T.A.Y.O.R ==> è TRADE AT YOUR OWN RISK!
All resources are for Educational Purposes Only.
Investing and Trading involves significant financial risk and is not suitable for everyone. Before deciding to invest or trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Investors and Traders should consult with a professional financial advisor for the effects of active investing.
Any opinions, news, research, analyses, prices, or other information is provided as general market commentary and does not constitute investment advice. No acceptance of liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Do Your Due Diligence and take responsibility!
As a REMINDER, here are the Rules of this Forum:
Forex Factory Rules These three rules are strictly enforced. You could be banned without warning for breaking one of these rules, so please read them carefully!
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* Rule #1: Respect Thy Fellow Trader
* Rule #2: Trading Only
* Rule #3: No Forum Promotion
As a Forex Factory member, you are expected to treat others with respect and kindness. Mean-spiritedness, fighting, racism, offensive comments, and slander are all subject to removal. Healthy debate is welcome.
Additionally, all members have the right to trade in peace - you should not harass, attack, or disrupt another traders thread. If you dislike or disagree with someones trading methods, its fine to say so, but you should move on shortly thereafter.
Rule #2: Trading Only
Forex Factory is all about trading. Anything focused on the pursuit of trading profits is welcome; anything focused on something else is subject to removal. Keep in mind that Forex Factory is a global community, so controversial discussions (i.e., politics, religion) should be kept to a minimum. Additionally, the site should not be used to for personal agendas such as ego, drama, attention or revenge.
Rule #3: No Forum Promotion
Promotional agendas tend to compromise the integrity of forum discussions and are therefore not permitted.* If you make money by servicing Forex traders in any way, shape, or form, you are NOT permitted to post in the forums unless you have prior approval. If you attempt to use the forums as a promotional tool you will be banned without warning!
Members with less than 100 posts should refrain from asking about or discussing commercial Forex products, services, or websites. This includes both positive AND negative discussions. A new member discussing or asking for opinions about a commercial Forex venture is the first warning sign of a hidden agenda. Without a posting history, it's hard to determine your credibility, so your post may be mistaken as promotional. If your post is ever moved (to the Recycle Bin) or deleted, it is most likely because it was suspected as spam. Please dont take this personally as the moderator team deals with a high volume of spam and does not have the time to thoroughly investigate every instance. Once you develop a track record on the forums it will be easy for the moderators to see that you have no hidden agenda and you will be free to join discussions related to products, services, and websites.
*If you service the Forex industry, you are welcome to promote your business by submitting analysis, press releases, and other newsworthy items in the News section. As a news provider, you must be careful not to stray into the forum area, as your avatar, signature, or username could be considered promotional.