Can anyone be a Forex Trader?

[ukelelefx]

Anyone can be a Forex trader but not everyone can be a full time Forex trader

 

[kool190]

hello traders,
i think the importants thinks after money/risk managemant is to be really interest with the charts and price action. interest like to watch every day for some years price action, to think and dream about it.
but be careful money is the biggest drug of the world. are some professional trader here?
regards from a man who is thirsty of knowledge

 

[Pharaoh]

I personally think of myself as an avid amateur trader.

I think we do have a few professionals hiding in the corner somewhere.

 

[ammar19]

Yes, anyone can be a forex trader but not everyone can succeed in that field. To become a good trader you have to treat it like you would treat any other business. You have to work smart and learn the basic things and understand what you are doing.

 

[Klem]

I'd be very wary of someone offering a "perfect strategy". Even if there was such a thing, markets and market conditions change over time, so the perfection would eventually become imperfect.

Does any one uses DiNapoli method in practice? Is it useful or not.

 

[ForexHopeLove]

Yes, I agree with the above posts. Forex isn't for everyone. But It is for anyone who loves unpredictability, risk-taking and unconventional style of trading. I believe forex is a form of intelligent trading so that what makes it very different from offline money making schemes. It's just that you need to have the right resources (broker, platform and practical experience) to succeed.

 

[Pharaoh]

Does any one uses DiNapoli method in practice? Is it useful or not.

I'm pretty sure Sive uses it in his day job at a bank.

The problem here is not always whether a method is useful or not. It's whether a method is useful or not to YOU. If you love scalping and don't think long term, carry trading won't be useful to you. If you only think long term, scalping won't be useful to you.

DiNapoli is fairly complex technical analysis. If that's the kind of thing you enjoy, then it's worth taking a closer look at to see if it makes sense to you.

 

[Klem]

hello traders,
i think the importants thinks after money/risk managemant is to be really interest with the charts and price action. interest like to watch every day for some years price action, to think and dream about it.
but be careful money is the biggest drug of the world. are some professional trader here?
regards from a man who is thirsty of knowledge

Hey, I agree with you, will take it into consideration.. trading is my main occupation last months but I still can't say I'm a professional... will take some time to become one.

 

[Thomas Herrnan]

Forex trading strategies must be reviwed every year as more market players enter the market. When trading volume increases your entries must be revised (I think) otherwise what has worked before may stop working for 'mysterious' reasons. What do you think?

 

[Pharaoh]

Forex trading strategies must be reviwed every year as more market players enter the market. When trading volume increases your entries must be revised (I think) otherwise what has worked before may stop working for 'mysterious' reasons. What do you think?

In any market, if someone comes up with a successful trading method and enough others find out about it, eventually, it will stop working.

For example, imagine if a simple 5x10 MA cross worked perfectly on one pair and many thousands of people started using this method. How long would it take until some BIG traders noticed that piles of smaller traders were making some very predictable trades? How soon until they figured out a way to take advantage of it?

On a darker note, how many bucketshop brokers buy up the latest EAs and run them on a fast computer connected directly to their MT4 server? Imagine knowing 1/100 of a second in advance of when a popular EA would open a trade. How easy would it be to widen the spread?