Some Forums (threads) are giving accurate forecasts....discouraging us to learn!!

[Red Herring]

I have seen like all of you that some forums and threads are giving very accurate forecasts and trading plans on daily basis....
If we follow them, we can easily earn profits (I have done 2/3 occasions and found them really correct)! This should discourage me learning and developing my own trading strategy (it is doing that)! I am now feeling that I can follow these expert's forecasts and earn profits without knowing how the decision came in! Which way to go!!!

 

[alanrox]

I have seen like all of you that some forums and threads are giving very accurate forecasts and trading plans on daily basis....
If we follow them, we can easily earn profits (I have done 2/3 occasions and found them really correct)! This should discourage me learning and developing my own trading strategy (it is doing that)! I am now feeling that I can follow these expert's forecasts and earn profits without knowing how the decision came in! Which way to go!!!

We cannot assure the continuity and the reliability when the time moves on. It is always better to develop a personal strategy if you have long term plans. Just my thoughts.

 

[Red Herring]

We cannot assure the continuity and the reliability when the time moves on. It is always better to develop a personal strategy if you have long term plans. Just my thoughts.

I agree with you...good thought!

 

[Pharaoh]

If someone is giving accurate signals here, and those signals hold up over time, take advantage of the fact this is a forum by asking questions in that thread.

You can also open a demo (or live, if you feel brave) account and try to see if you can figure out the logic behind the trades. Once you have enough of them entered into an account, if they aren't news related, slap up some indicators and see if anything correlates. Even if you can't figure it out, it would be a great exercise that should be a learning experience in itself.

 

[RahmanSL]

I am one of the lazy ones to learn technical analysis....maybe its because of my mistrust of technical and is more in favor of fundamentals.

Recently, I have been an avid follower of "eFXnews" and have found that by following their news, my trades have been very profitable.
But I don't simply follow blindly and don't make trades on all their news.

Take, for example, in today's news:
"A Strong Ichimoku Sell Signal For AUD/JPY - Citi"

While I am kinda in the dark with regards to "Ichimoku" system, what made sense to me is the last sentence, "...Such development is in line with the recent repatriations from Australia by Japanese retail investors via Toushins (investment trusts)."

So I will mostly scalp/day trade AUD/JPY all day today and....if I feel comfortable...for the entire week on this pair alone. But keeping close watch on any new developments on the AUD/JPY.

==================

....phssss...Ancient One...did you take a short trade on the USD/ZAR? I took one small position (0.10) at the 9.41914 level and its now down to 9.39505....am considering closing the trade if it drops any further and forfeit the positive swap....I can always go back in if it goes back up as it normally do on Wednesday.

=================

I believe its going to be a fun & profitable scalp/Day trading day for me on the AUD/JPY.
Have entered 12 short positions at the 100.511 levels with TP set at 99.286.....each time the pair moves back up, I open one or more short positions and then close them out immediately when in >USD1 profits....will closed out some of the weaker 12 numbers opened positions when they in reasonable good profits

=================

 

[RahmanSL]

Looks like, for now, the CITI guys are correct regarding the AUD/JPY.

I have closed all, but one at the 100.511 level which I will let run down to TP 99.286...i.e if CITI is correct.
I have also scalped a whole bunch (i.e shorting any rises and then closing them out in profits) and have met my daily profit target of over USD500 on a USD8.5k account.


I am now focusing on shorting USD/ZAR (3 positions so far) because its at a high level (over 9.41 and based on all TF)....any initial losses are okay because it pays high positive swap rate....but if any of the opened positions have over USD20 in profits, I will close that out but leave one short position (the higest level one) running for the positive swap.
Maybe the pair will drop so far down this week that it would justify closing out and taking profit....maybe around USD150.
Or I can leave the position run for all eternity and get positive swap 365 days a year

I presume this is what the mighty Pharaoh meant by "carry trade"

 

[Red Herring]

If someone is giving accurate signals here, and those signals hold up over time, take advantage of the fact this is a forum by asking questions in that thread.

You can also open a demo (or live, if you feel brave) account and try to see if you can figure out the logic behind the trades. Once you have enough of them entered into an account, if they aren't news related, slap up some indicators and see if anything correlates. Even if you can't figure it out, it would be a great exercise that should be a learning experience in itself.

Thanks! I have already done/doing that with a demo and trying to open a live account (uploaded my documents to a broker).....I will try to identify the logic since I have done some reading on some indicators...lets see!

 

[chancellor87]

Have been lurking around in FPA for few months (or maybe few years, I forgot when I did register to FPA) and just receving Sive's Analysis in my gmail, this is the first post in FPA. Greeting.

Do not stop encouraging yourself to learn the market, I think. Because learning curve in market is growing exponentially.


Cheers,

 

[Red Herring]

I am one of the lazy ones to learn technical analysis....maybe its because of my mistrust of technical and is more in favor of fundamentals.

Recently, I have been an avid follower of "eFXnews" and have found that by following their news, my trades have been very profitable.
But I don't simply follow blindly and don't make trades on all their news.

Take, for example, in today's news:
"A Strong Ichimoku Sell Signal For AUD/JPY - Citi"

While I am kinda in the dark with regards to "Ichimoku" system, what made sense to me is the last sentence, "...Such development is in line with the recent repatriations from Australia by Japanese retail investors via Toushins (investment trusts)."

So I will mostly scalp/day trade AUD/JPY all day today and....if I feel comfortable...for the entire week on this pair alone. But keeping close watch on any new developments on the AUD/JPY.

==================

....phssss...Ancient One...did you take a short trade on the USD/ZAR? I took one small position (0.10) at the 9.41914 level and its now down to 9.39505....am considering closing the trade if it drops any further and forfeit the positive swap....I can always go back in if it goes back up as it normally do on Wednesday.

=================

I believe its going to be a fun & profitable scalp/Day trading day for me on the AUD/JPY.
Have entered 12 short positions at the 100.511 levels with TP set at 99.286.....each time the pair moves back up, I open one or more short positions and then close them out immediately when in >USD1 profits....will closed out some of the weaker 12 numbers opened positions when they in reasonable good profits

=================

Yes, I know you are a fan of such free accurate signals (I have seen you commenting there...)

 

[Red Herring]

Have been lurking around in FPA for few months (or maybe few years, I forgot when I did register to FPA) and just receving Sive's Analysis in my gmail, this is the first post in FPA. Greeting.

Do not stop encouraging yourself to learn the market, I think. Because learning curve in market is growing exponentially.


Cheers,

Yes, the process of learning is going on...