Agin1415 you'll succeed at this just because you have an open mind about it. The second that you drop the idea that you can't do things the faster you will find out that you can. Like I said though (and I'm directing this to everyone) LEARN something first. Forex WILL be the new day trading (probably less than five years also) and just like day trading it will blow your back out if you don't know what you're doing.
agin1415, no one can teach you play fx, it's not so difficult to make 300-400 pips per month...but not 20pips per day. i think you teacher knew what technical sign make the euro go to 1.26 at sept.
Yes I'd agree with your statement OfmY it's rare that you can actually be taught to trade the FX markets. Sure you can learn things from people, but ultimately the way you will win at this stuff is if you tune things out and take all the knowledge you have and USE it. Although it is also not hard by the way to capatilize on those gains if you try to break them down into small fragments. Even 1000 pips a month is just about 33 pips a day, and don't think that you have to get that by just playing one pair... Also OfmY I don't want to be thought of as giving anyone a hard time that might be having a hard enough time trying to communicate with people here as it is. So please excuse me if you thought I was trying to be rude...
This Trainer I am using is a man for all Students. In other words, I'm sure there are a lot of talented Traders that could figure out FOREX and pay through hard nocks. And make a lot more than 400 pips a month. He is teaching one on one, with a very conservative approach. But never the less, I feel like (from what I have seen so far) that is possible to make a good living. My point , One on One Training is the fastest way to get trained, and less expensive in the long run. My stint in Operations of a Direct Access Broker, out of 200 Traders, 98% failed, they got no training other than how to use the software. And the SEC Rules are that a BD cannot provide Training on how to Trade. FOREX offers everything you need, and the money and leverage, help if you don't go nuts and jump in with too much up front. I think FOREX is the only game now.
You could very will be right in saying he could teach you to trade forex quite well. Just like I could point you to exactly what you would want to know to trade forex... My only thing is that eventually your mind will stray from what you've been taught and it will start venturing out into other ideas when one is not working well for you... So after you've traded for a while you'll have a plethora of knowledge that you have accumulated that will be what you use eventually...Not just what one idividual has showed you. On other points you commented on...Forex IMHO is the most primo asset class... Once you've mastered all the noise it has to offer...What else is better than playing the FOREX market .....Nothing.... To me personally all stock speculation has to offer is you loosing your pants one day because you overslept one morning....I hate to say it because I really like the people that work there....But does Refco come to mind?....
I agree Stocks are just too hard, to trade, between the NASDAQ, NYSE, and the SEC, they all seem to want to over regulate and kill Day Trading, at least for the little guy. We already know. Stocks are a smaller more manipulated market. Hardly any Leverage. High Money requirements (over 25k) Fees and Commissions Huge Market noise, and all the insdier crap, and Kramers out there, pump and dumping. My Trainer trades from a laptop. You don't need sixteen screens, and 3 TV sets, to trade Forex.
well, what can i say guys: i have understood that the most efficient learning - is one to one -you and...his majesty the market...lessons are the most expansive than with a teacher...but if to start from very begining with real account (not demo) with $100 on it...you'd be tought much. stocks...well...there is other side and sides, for example, look at google - no one currency will generate such a growth, but it's an investment more than game, like forex. i prefer it just because leverage (but sensible one) and trading hours as i don't live in US. also like futures. have a nice weekends!
I'm a bit puzzled about this. How can one compute VWAP on forex markets? where -unlike e.g. SP500- the market is segmented (CME IMM futures, spot forex, OTC etc) and volume isn't available.
I explained in one of the previous posts that I was just trying to point them in the right direction so they would get the idea easily... The real thing I wanted them to note was algorithmic trading... If you were trying to create a volume indication of Forex you would use a few forward looking indicators like momentum, ADX etc... combined together... 2 period Momentum or Rate of Change works well though...
Q CREATE YOUR OWN LEADING INDICATORS http://www.jurikres.com/faq/neural.htm The problem is that almost all commonly used indicators, (MACD, ADX, CCI, RSI, etc.) look behind and summarize what has occurred, not what will occur. UQ