Your Questions About Forex Market Trading Days The following Question and Answer is brought to you by our Forex Consultant with interaction from members of the Yahoo Answers community.
Which is the most profitable forex strategy? Guys, I have checked out this video on youtube http://www.youtube.com/watch?v=ZwaNjQ8xeSo Has anyone tried this? Please let me know if this is a most profitable forex indicator for day trading forex!! I wanna be a profitable forex trader who can consistently churn out pips from market opportunities pls reply guys
There is no “MOST PROFITABLE” nor some kind of AUTOMATIC strategy of any kind WHATSOEVER. You’ll do yourself a great service by getting that out of your head NOW. No strategy -regardless of how “good”- EVER produces exactly the same results in an unfailing or automatic kind of fashion or works the same for different people. I’ve seen this as both a belief and a misunderstanding held by lots of inquirers and beginning traders. They think there’s such a thing as a top secret strategy that the illuminati are keeping in some vault in Geneva… THERE IS NO SUCH THING. “Systems”, “strategies” MUST be tweaked according to market conditions… And the only way to know how to do it and why is through EXPERIENCE. Only experience can give you the know-how in regards to when and why your standard approach needs to be adjusted. That’s where the “art” in trading comes into play. This is only learned and acquired through extensive observation of market behavior. When you know what the market might MOST LIKELY DO due to its current condition (because you’ve seen it thousands of times and therefore you have narrowed it down to what to do and when) you will be able to continue profiting. There’s no substitute for hours of observing market behavior. Btw, if all this seems too complicated that’s wrong too… IT IS NOT. Again, experience will show you that the only constant is a limited number of market reactions to certain key levels. Sometimes the market reacts predictably, but sometimes -even frequently- it may have very wicked, seemingly irrational, impossible to explain nasty periods in which it just simply DOES NOT…. When that happens, it seems that no fundamentals, technical analysis nor God can give you an explanation of why the market is behaving in such a way. Just accept it. In time, you could maybe learn (‘maybe not’ is also a possibility) how to be on the right side of things most of the time. That’s up to the many things that add up to —-> YOU… And that’s that. Good Luck.
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Published on Jul 10, 2012
Which is the most profitable forex strategy? The following Question and Answer is brought to you by our Forex Consultant with interaction fr...