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  1. #21
    Jenforex is offline Senior Member
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    Aug 2008
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    Quote Originally Posted by ForexExchangeGuides View Post
    hi,

    forex trading is good to make money fast. but the most important is refer to expert person to guide you.
    Well in this case i prefer MT4 Trading platforms, they provide a wide variety of tools to analyze your trading positions. You can rely on there experience and make your own trades. With MT4 i dont need to approach any Expert person to guide me.

  2. #22
    relax is offline Junior Member
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    Jan 2009
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    Hi,

    MT4 is a good and simple platform. There are a lot tools to help us in trading etc. I personally using MT4 too.

    Practice makes prefect. In forex trading, it is important for us to do backtesting on our strategies too. Be confident first before you start trading real money.

  3. #23
    StTrader100 is offline Junior Member
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    Mar 2010
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    I am new to this forum but have about 10 years trading experience. I have only been profitable for the last 3 years, it took a lot of trial and error and lost money, but eventually I realized that simple is better when it comes to trading of all forms, not just forex. People just get so bogged and confused with lagging indicators and trying to analyze every piece of economic news that comes out. The bottom line, that I have realized, is that price charts reflect all market variables. Essentially, any thought that any market participant has about the fair value of a particular security could be considered as a possible catalyst for market movement. To try and predict where the market is headed from reading news articles or lagging indicators is pretty futile because you can never really know what millions of market participants are thinking or going to do. Therefore, I have learned that just using simple price action setups is the best way to trade, price is all you need.

    Here is a link to some examples of the way that I trade: price action setups

  4. #24
    Jenforex is offline Senior Member
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    Good to have you here StTrader100.

    You certanily tend to have a long years of experience trading forex. We love to hear your experiences in trading on this forum. I completely agree with you that price is what matters while trading. Can you share with us which kind of tool do u use to setup price?

  5. #25
    StTrader100 is offline Junior Member
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    Mar 2010
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    Jenforex,

    I have had the most success using simple price action setups to trade the market with. I typically stick to three setups, pin bars, inside bars, and the "fakey" setup that I learned from Nial Fuller. I have found all you need is a handful of solid setups like these to trade profitably. I often see people posting up charts in some of these forums with so many indicators placed over top of the price that you can't hardly even see any of the price bars. Price factors in all market variables, so there is just no sense in looking at lagging indicators. Do you feel me?

  6. #26
    joeylong is offline Junior Member
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    Default What is the Best?

    I have an old computer. What is the best software to use to learn how to trade?
    Joey
    I am just a beginner.
    want to [URL="http://www.payzeno.com/a/joeylong/29"]make money [/URL]so I can retire.

  7. #27
    relax is offline Junior Member
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    Great information from here. Thanks for all the contribution. I have learned a lot too.

  8. #28
    StTrader100 is offline Junior Member
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    Mar 2010
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    Quote Originally Posted by joeylong View Post
    I have an old computer. What is the best software to use to learn how to trade?
    joeylong, Fxlite provides a metatrader platform that has New York candle closes. This is what you want because some metatrader platforms do not have the New York close, its important because it starts a new FX session and its important to see the closing price of the New York trading session, closing prices are always more significant.

  9. #29
    joeylong is offline Junior Member
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    Red face thanks for the answers

    thanks, but maybe I asked the wrong question. I dont understand half of what you said.
    where can I go to learn these terms?
    Joey
    I am just a beginner.
    want to [URL="http://www.payzeno.com/a/joeylong/29"]make money [/URL]so I can retire.

  10. #30
    free-forex-ebooks is offline Junior Member
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    Apr 2010
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    Default

    nice post ola....its good for newbies

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