Jeff
Bet Angel wrote:What makes prices rise in a forex market?
Good GDP figures, rising interest rates, good unemployment figures a trade surplus.
What makes prices fall in a forex market?
See above!
At last some freedom from this nightmare.
Yep, markets are temperamental and mysterious beasts!
Jeff
Jeff
Hi,
I think we need some perspective here concerning forex trading.First of all I would like to point out that anyone can win on a roulette wheel if the bank had no limits,effectively you just use a progression method until you are in profit.So how does this apply to forex,the answer is quite simple,the only people who make money out of trading forex are people with an almost bottomless bank,and that means institutional players.The only way a person with limited funds can beat forex is by sheer luck.Look all over the web and you will see endless companies trying to get small players involved,but the deceit involved leaves the horse racing world looking almost blemish free.To encourage private individuals of limited means(and limited could mean up to £500,000)is nothing short of criminal.If you are winning at Forex without institutional backing then you are on a lucky streak that will not last.
Zoot
I think we need some perspective here concerning forex trading.First of all I would like to point out that anyone can win on a roulette wheel if the bank had no limits,effectively you just use a progression method until you are in profit.So how does this apply to forex,the answer is quite simple,the only people who make money out of trading forex are people with an almost bottomless bank,and that means institutional players.The only way a person with limited funds can beat forex is by sheer luck.Look all over the web and you will see endless companies trying to get small players involved,but the deceit involved leaves the horse racing world looking almost blemish free.To encourage private individuals of limited means(and limited could mean up to £500,000)is nothing short of criminal.If you are winning at Forex without institutional backing then you are on a lucky streak that will not last.
Zoot
I disagree.
Just as some members of this forum have an edge over the Betfair markets, some traders in the financial markets have an edge that allows them to profit consistently (and I know non-institutional Forex traders who profit consistently).
As Mark Douglas writes in Trading In The Zone:
'On any given day, week, or month, the markets make available vast amounts of money to anyone who has the capacity to put on a trade. Since the markets are in constant motion, this money is also constantly flowing, which makes the possibilities for success greatly magnified and seemingly within your grasp. I use the word "seemingly" to make an important distinction between the two groups of traders. For those who have learned how to be consistent, or have broken through what I call the "threshold of consistency", the money is not only within their grasp; they can virtually take it at will. I'm sure that some will find this statement shocking or difficult to believe, but it is true. There are some limitations, but for the most part, money flows into the accounts of these traders with such ease and effortlessness that it literally boggles most people's minds.'
Jeff
Just as some members of this forum have an edge over the Betfair markets, some traders in the financial markets have an edge that allows them to profit consistently (and I know non-institutional Forex traders who profit consistently).
As Mark Douglas writes in Trading In The Zone:
'On any given day, week, or month, the markets make available vast amounts of money to anyone who has the capacity to put on a trade. Since the markets are in constant motion, this money is also constantly flowing, which makes the possibilities for success greatly magnified and seemingly within your grasp. I use the word "seemingly" to make an important distinction between the two groups of traders. For those who have learned how to be consistent, or have broken through what I call the "threshold of consistency", the money is not only within their grasp; they can virtually take it at will. I'm sure that some will find this statement shocking or difficult to believe, but it is true. There are some limitations, but for the most part, money flows into the accounts of these traders with such ease and effortlessness that it literally boggles most people's minds.'
Jeff
zootzoot wrote:Hi,
If you are winning at Forex without institutional backing then you are on a lucky streak that will not last.
Zoot
Hi Jeff,
Question everything!!!Mark Douglas worked for Merrill and gave up this to become an author and and trainer where he has made a small fortune leading rookies to the slaughter.The paragraph you quote above from one of his publications has an audacity that would make the most seasoned trader cringe.The idea of a trader just doing the right things and money flows his way is just hilarious,and he is certainly trying to take in the newbie here,as opposed to talking to fellow pro's
There is a lot of talk about "having an edge",frankly this is not true in the real world of forex trading "having the money" would be more appropriate.
There are ways of having an edge on betfair trying to predict which way the financial markets are going,but that is completely different to forex trading.It is possible to have an edge in horse racing especially if you know when a jockey is going to throw a race(that's the only time I trade),but to be long term successful at forex you need a mountain of money behind you(other peoples money:)
Zoot
Question everything!!!Mark Douglas worked for Merrill and gave up this to become an author and and trainer where he has made a small fortune leading rookies to the slaughter.The paragraph you quote above from one of his publications has an audacity that would make the most seasoned trader cringe.The idea of a trader just doing the right things and money flows his way is just hilarious,and he is certainly trying to take in the newbie here,as opposed to talking to fellow pro's
There is a lot of talk about "having an edge",frankly this is not true in the real world of forex trading "having the money" would be more appropriate.
There are ways of having an edge on betfair trying to predict which way the financial markets are going,but that is completely different to forex trading.It is possible to have an edge in horse racing especially if you know when a jockey is going to throw a race(that's the only time I trade),but to be long term successful at forex you need a mountain of money behind you(other peoples money:)
Zoot
OK, I'll begin by questioning what you've written!
What evidence do you have for your claims about the impossibility of trading Forex profitably if you're not an institutional player?
And are the self-financing traders I know who do claim to make a living from Forex (many of whom are typically, from 9-5, in an online Forex trading room I visit) all liars?
Jeff
What evidence do you have for your claims about the impossibility of trading Forex profitably if you're not an institutional player?
And are the self-financing traders I know who do claim to make a living from Forex (many of whom are typically, from 9-5, in an online Forex trading room I visit) all liars?
Jeff
zootzoot wrote:Hi Jeff,
Question everything!!!Ma
[...]
To be long term successful at forex you need a mountain of money behind you(other peoples money:)
Zoot
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[quote="blackfriar"]
You could also trade the in-play football season, and cricket, which are both much much, much, much easier to trade than pre-race horses.
A question please from an ignoramus how can in-play football and cricket be easier than pre-race horse trading? Although pre-race horse trading is subject to a fair amount of fluctuation nothing is actual happening with regard to the race whereas surely in play sport is expose to 'events' which cause massive price movements?
You could also trade the in-play football season, and cricket, which are both much much, much, much easier to trade than pre-race horses.
A question please from an ignoramus how can in-play football and cricket be easier than pre-race horse trading? Although pre-race horse trading is subject to a fair amount of fluctuation nothing is actual happening with regard to the race whereas surely in play sport is expose to 'events' which cause massive price movements?