Does Anyone Trade on the Forex Market?

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   FAP Turbo Resultsposted 16 years ago

   I have started trading on the forex market, and was curious to see if anyone else did. If so, any ideas about trends for a currency pair or new strategies? Thank you, Alex.

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   WeddingConsultantposted 16 years ago

   Actually, Mark Knowles knows a little about forex trading. I'm sure he'd like to see what your thoughts are on the topic.

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      Mark Knowlesposted 16 years agoin reply to this

      
      
      I was waiting for the respondent before I educated him......

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   needful thingsposted 16 years ago

   I did... and I lost big time... saving again for another shot.

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      Mark Knowlesposted 16 years agoin reply to this

      Don't bother. It is impossible for the small day trader to make money on the forex market.

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         BDazzlerposted 16 years agoin reply to this

         I'm curious about the quality of the various software trading robots.  I started trying to do some AI based pattern recognition programing for tje technical trading of commodities in the mid 90's but ran into a snag with the communication (still a lot of dial up, no standards, very few online brokers etc.)  ... I never got back to it. I see a lot of robots out there now. Are any of them any good?

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            Mark Knowlesposted 16 years agoin reply to this

            That is not the problem.
            
            There are two issue for the small trader.
            
            Information and leverage.
            
            Forex trading is a zero sum game. The player with the best information and the biggest bankroll always wins.
            
            If you have vast amounts of money and the luxury of spending money in any currency, play the game

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               BDazzlerposted 16 years agoin reply to this

               Thanks, but no-thanks, I'd have just as much fun paper trading with the robots ... I was just curious .. seriously, though, thanks.

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               Mishaposted 16 years agoin reply to this

               When you factor in the spread, it does not look like zero sum anymore. Those few pips tend to add up to a sizeable amount

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                  Mark Knowlesposted 16 years agoin reply to this

                  A  Minus zero sum game

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4. 58

   FAP Turbo Resultsposted 16 years ago

   My hub page is about a forex auto bot trading software I use. I've made $2,000 in the last four days alone. It started out slow, as my intial deposit was only $100 so in the beginging I was only making like $20 a day, but thats $20 that I didn't have to do anything. I just had to leave my computer on! Its the best software I've come across, and I'm glad I did. So you don't need alot of money to trade on the forex market, sure having a bigger deposit helps you get bigger returns but you have to think long term, and adjust your strategy to what works best for you.

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      Mark Knowlesposted 16 years agoin reply to this

      So $100 into $2,000 in 4 days.
      
      $2,000 into $40,000 in the next 4 days.
      
      $40,000 into $800,000 in the next 4 days.
      
      $800,000 into $16,000,000.........
      
      What are you doing here selling us your software?
      
      You cannot make money with $100 in forex trading. Try the local casino instead. At least you get a free drink

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5. 66

   WeddingConsultantposted 16 years ago

   FAP, could you describe your top 10 best FOREX secrets to us here?

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   Rectavposted 16 years ago

   The Price data can move in 3 different directions: up,down or side way. When there is an uptrend or a downtrend, you have to use a trend following method. When the market goes side way, you have to switch to a ranging methodology. These are two different styles of trading (using different tools). Related to their own personalities, traders will choose one of those methods.
   Rarely, you will find a gifted trader (a universal trader) who uses both methodology.
   
   Now, for the robots, I think only humans can perceive this kind of change between a trending market and a ranging market. If a robot would be able to do that, you will not see any more traders on the trading pit.
   
   I will not advise any beginners to use a robot to trade any markets. The reality is that for anything you want to achieve in life, you need understanding, commitment, and hard work. There is no shortcut to that.

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7. 60

   lbtraderposted 16 years ago

   i have been studying the forex market for years and i still spend countless hours staring at forex charts....i am currently experimenting with Expert Advisors.
   
   I was reading the thread and i have to say that i disagree with Mark when he says you can't make money in Forex with just 100 dollars.
   
   It's all relative and i guess it depends what he means by make money. If he means you can't quit your day job then i agree but if he means you can't make a percentage then i disagree.
   
   In todays world where brokers are offering 1 dollar buy ins and where a dollar is to 100000 what 1 is to a lot then a strategy that works big will work small.
   
   A lot of times i wanted to quit researching forex but i just keep at it. Only the other day i ran a backtest on an EA that i coded - on the gpbjpy that is known for it's wild swings an the test showed a 10K account go to 30K in less than one year.
   
   I understand that backtests are iffy but waves don't lie and i don't need 200 percent annually to build a stash that will get me away from waiting on the government for pensions...
   
   So i'm with the group that says forex is the thing to do.
   
   That's even more true in todays unstable financial world...
   
   Just my opinion....
   
   So who's got a bankroll to go live with my EA....!!!!!

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   Lorena09posted 14 years ago

   I am using UFXBank for forex trading.I think it is one of the best online Forex broker services on the market.

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9. 60

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