Success in the Forex

Discussion in 'Forex' started by NeoRio1, Oct 4, 2008.

  1. The beutiful thing about the Forex market is that currencies are often related, there is only a certain amount of currencies and that of course there is large amounts of volume. It's as if there were only a total of a hundred businesses in the world with only a hundred stocks. Wouldn't those stocks have much in the way of relation and dependency on one another?

    What I am saying here is that in order to fully take advantage of the forex market you must connect the dots. You connect what works with what time frame and what strategy. How do you make this connection. You make it by personally observing and studying every single currency in the entire market. I bet you anything that by doing this you will develope a sense that some currencies act certain ways. Once you find out that they actually act certain ways you must discover the most profitable method for that way of price movement.

    Also another thing, become best friends with microsoft word. If you never write anything down and start separating things into categories you are as generally hopeless as if you never started any type of real study. This is the entire reason why learning trading from other people is close to impossible because you are TRYING to do what other people with different thought processes have done instead of actually following your own thought process. The market is what you make it and no one will ever move you in the direction you want to go unless you somehow inherit 10 million bucks.
  2. Another thing which is "nice to know" is how the central banks are intervening; it would sure be nice with some omniscient insider information there - and that's when you are playing with the "big boys". Otherwise you just have to accept that you are a little speck of a fly shit on a big piece of dung, and adapt towards that "market reality".


  3. Besides the cynical point of view it is nice to "accept" that you (not you) are making triple the amount of the average person in a few months.
  4. aonelite


    Success in everything..takes space and time XD
  5. Of course, it takes a long time before any single individual has some significant impact on markets. But organized traders, contact networks etc - they already impact and sometimes piggyback insider big boys...