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Post by sniperfx on Aug 15, 2014 8:58:02 GMT -5
Hi Allen,
Thanks for starting this up, i have been studying forex for 2 years now , but am yet to start trading with real money, main reason being is that i know all the technical jargon and understand everything you and others talk about regarding forex, my biggest issue is that i am yet to find a trading strat. that actually works long term and that i can trust to trade real money with ....there is so much rubbish out there and fake systems that don't work long term, i came across your you tube vids and noticed that you are a real trader who shows himself actually trading (so many marketeers out there who don't trade) so i am really hoping to learn from you and your methods and actually start to make money from this game. That is my dream and hopefully my chance to change my career into something i am actually interested in instead of wasting my life in my day job. I am from New Zealand, but live in London.
Cheers!
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Post by topfueltrader on Aug 15, 2014 23:11:48 GMT -5
Hello From America and welcome sniperfx. Allen has a lot of helpful tools and info which can help grow your understanding of the forex world.
Its by no means easy! Protect your dream and trade super small until your confidence builds.
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Post by traderAllen on Aug 16, 2014 11:28:06 GMT -5
I understand coming up with a trading strategy can be difficult but don't miss seeing the forest by looking at the trees. More importantly, you need a good understanding of whatever market you're going to trade. For example, I mainly trade the euro dollar. Therefore, I monitor it constantly, I know when it's likely to move and when it's likely to do nothing, then, I make sure I'm available to trade when it's likely to move. Once you have a deep understanding of the market, then it becomes easy to find a strategy. I used two basic methods. But to be honest, it really doesn't matter. You could give me a strategy whatever you create and I would adapted to the market conditions and make a profitable trading method. To put it simple. If you know the market generally breaks out of its range at 8 o'clock in the morning. It doesn't matter what breakout system use. They'll all work because the market breaks out o'clock in the morning. Too many times aspiring traders are taught they have to have a system and someone's willing to sell them one. When what they really need is to understand the market they plan to trade. Allen
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Post by sniperfx on Aug 19, 2014 5:00:27 GMT -5
I understand coming up with a trading strategy can be difficult but don't miss seeing the forest by looking at the trees. More importantly, you need a good understanding of whatever market you're going to trade. For example, I mainly trade the euro dollar. Therefore, I monitor it constantly, I know when it's likely to move and when it's likely to do nothing, then, I make sure I'm available to trade when it's likely to move. Once you have a deep understanding of the market, then it becomes easy to find a strategy. I used two basic methods. But to be honest, it really doesn't matter. You could give me a strategy whatever you create and I would adapted to the market conditions and make a profitable trading method. To put it simple. If you know the market generally breaks out of its range at 8 o'clock in the morning. It doesn't matter what breakout system use. They'll all work because the market breaks out o'clock in the morning. Too many times aspiring traders are taught they have to have a system and someone's willing to sell them one. When what they really need is to understand the market they plan to trade. Allen Cheers Allan, good advice and very interesting to read!....i have spent most of my time during the last 2 years looking at the SP500 chart , i look at it daily but have as of yet have not mastered how it works and moves, that is something i hadn't really looked for, i was always trying to apply a strat to the market, i guess i should be trying to apply the market to strat instead!....thanks for the tip, i'll try and change my mindset on that and see what i can find. thanks! |
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