I guess you didn't give it enough of your time. I don't use EOD data, I still use MT4 because it has free data and it also allows me to use my personal software + tools. Not necessarily, the higher time frames are more predictable and many people would be trading them successfully. But just like every other business, trading forex requires a lot of time and effort and people often think its easy and after a few winning days or weeks, they jump into deep water before they have even learned how to swim so naturally they drown....
I would agree that it is more profitable on a shorter time frame. That is because there is an incredible amount of economic variables that come into play, the longer you are in, the more irrelevant your original analysis becomes.
As for me, it's still not worth building a life on trading. This is a part-time job, no more. But not life.
Forex is a trading place from where you can make money more and more if you can manage the money , but in practically traders lose because of low money management.
In a prior thread you admirably mentioned trading FOREX for a long time and not being a profitable trader. Because you are so sincere, I write this: Most likely you will never be profitable trading FOREX. Please study the answers people have given to my question and see how many are even claiming to trade for a living... count 'em up. Please study all the believable answers in this thread. Please look for the ignorent answers. Or better yet, please answer this question, even if only to yourself: Why Would I Be Able to Become A Profitable FOREX trader? I like your posts, sincerity and search for the truth.
It would help if you could clearly say what edge you thought you could obtain over your opposition. Please consider your informational disadvantage to the big players, costs that include the spread, inferior speed and poor executions, as well as who your opponents really are.. Umm... I hope it is not simply , I look at charts or I watch the markets and learn from what I see. Or... better yet...if you simply said you know a professional FOREX for trader and he will let you work for him or he will mentor you because of a personal relationship. This would be surprising but excellent! PLEASE do not count the numerous and humorous gurus-for-hire. If I glance at this thread a year from now and see you achieved your FOREX goal, I will be shocked and incredibly happy for you.
right now so many people think Forex is a money making place but its a professional business in practical. even though we have short term tendency about process but its should be long term approach.