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Try the Euro FX futures and then tie volume into the mix. Spot currencies can be tuff IMHO. Futures buddy, Futures! Just remember currency traders are the real masters of the universe. Talk about a pack of wolves with unlimited resources. Geesh.
GL, there's a good group of learned people here on Mike's site.
Can you provide some detail as to your experience or knowledge? How do you like to trade? Are you a short term trader looking for a few ticks or pip, or do you like to hold a trades for minutes, hours, days etc? Do you trade against or with the current trend? What is your methodology? Do you use indicators? If so, what? Do you look at patterns and or trend lines. Do you have a written trading plan that defines how you like to trade, what the setups, risk, money management and targets are?
If you want somewhere to begin I would suggest this thread.
By the way, become and elite member for the $20 or $50 or whatever it is so you can access the elite threads like the one attached.
In a recent survey about webinars, a lot of members expressed interest in learning more about the elusive "price action" that many traders talk about and refer to.
It is my intent with this thread to try and document price action from my point …
I have been losing money as well, tried options and stock. But I am a good programmer and have to rely on my strengths so the next goals is to program a system. I like NT for their simple interface, I also tried buttontrader in the past.
Dear traders! My name is Sergey, I'm from Russia, the main my work on the automation engineer. I'm learning to trade Forex, found your forum very interesting and useful information for my training trade.
P.S. I use a translator, so sorry for the quality of the text.
David,
This is my 2nd attempt to reply to this and I hope both messages don't go through at the same time because they would be very redundant. Anyway, I've been trying to trade with the trend only, as it seems all serious successful traders use this approach. I've murdered my first 2 live accounts, but luckily I only deposited minimal amounts that I was comfortable using. I know people say demo trading first, and I did for about 6 months, but I don't believe that helps as people can be fearless when it's not real, and the results will not be realistic.
Lately I've been using a variation of guppy lines to find the trends, TD Sequential Counts, and some pivots exclusively. Surprisingly this has given me some improvement, but still not where I would like to be.
Any advice will be greatly appreciated, and I will become an elite member in due time.
Thanks DeadCatBouncer. I will look into that asap. I've been doing a lot of research on volume trading and have found some nice indicators. From what I've gathered though, the aren't all that effective in Forex, and I need to follow your advice and look into the proper markets for these indicators.
I am a beginner....and just saying HELLO!! Hope to learn alot and at some point and time hope to give back what others give to me.
Thanks.
A Trader 4 Sure
Thanks for the great site. I have traded the markets for many years. Have done some programming of indicators and systems in TradeStation, and am now looking to convert over to Multicharts.
Much of my focus has been on the Indexes, ie ES,NQ, and TF, but I am interested in working more with the curriencies, energy and food.
I am interested in building approaches that could be managed with less direct management, ie watching the screen 20 hours per day. This would take a team as I would want oversite at some level all the time.
Lookingf forward to working with others on this site.