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December 2009 Question of the Month - What's your strategy?

Discussion in 'Forex Trading Systems and Strategies' started by AsstModerator, Jan 4, 2010.

  1. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    Here's a chance to help out your fellow FPA soldiers. One person wrote in and asked...

    Do you have any special forex strategy or trading method that you can share? Just give your personal methods, not links to product websites.

    If it's short, please put it in this thread. If it's lengthy, start your own thread in this folder.
     
  2. wahaab

    wahaab Recruit

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    U Have To Be Discipline

    Hello mr,
    i don' seem to know ur nane that would have been beta,so i will know how to address U,sorry 4 that.but i think that u have not learn 4rx trading yet u must be discipline then u must have ur rules then u must have a good strategies after that u ar here at FPA u must learn to trade the new that the FPA gives its member bcos i am also one victim of such but when i came across FPA i stated making profit bcos i follow its news with the system that i use,since then my account has been laughing i think u should visit this site indicators-forexblogspot.com there u will find great system conbine with the FPA new.i also thank FPA team more grace to ur elbow
     
  3. AvidTrader

    AvidTrader Recruit

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    I have been using the Chaos Trading Method for 12 years. The method was created by Dr. Bill Williams. Its the best method I have ever seen. I have never had a losing year. NEVER!

    I trade the Forex using 2hr time frames and sometimes a 15 minute tf. We use a live trading room at Avid Trader - Stock Trading Community for the Novice to Advanced Trader to record our live trades if you want to check it out.

    I hope this was OK to respond like this.
     
  4. MACH26

    MACH26 Private

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    Strategies

    Hi, I've been trading for a year. Probably the most successful but difficult to track is the 5 minute Momo method. Thisreurlarly returns good pip totals for the day and works across all sessions. For the 1hr chart, I use Compassfx indicators and Stealth for cross reference. Most of these indicators can be found on the site. Robots that work are Robominer and Megadroid. I'm looking at some others. Tradency provides a good managed service if you get the right systems in place and broker of course. Finally, it helps to have a live Trading room to stay sane but I'm still struggling to find one that has really good results. Hope this helps or provokes comments
     
  5. aransiola olusola

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    Hi,
    As a soldier,you need to obey the last order.FPA is a nice force with innovative commander and moderators....all you need is follow the FPA news cos it is real...i wish you success this year.
     
  6. 4051fx

    4051fx Recruit

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    What broker?

    FPA has a good system, unfortunately i can't find any broker for using it, please help me on this! thanks
     
  7. IndyPip

    IndyPip Recruit

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    Haha that's funny I use the same two indicators. I've been trading full time for almost 2 years. I use the advanced synergy/compass and stealth for cross ref. I've noticed lately that I rarely use the stealth much as I've gotten very good at reading charts and shadowing the news. I also visit two trading rooms per day, one at that start of the London and the other New York. The odd hours kinda sux but it's better than getting a job. lol. Hey Mach have you tried the compass trading rooms? I've had alot of success with them so far.
     
  8. Randagio

    Randagio Private

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    hi there,
    Since two of you seem to have nice results with compass fx and stealth, would you please specify how do they work and how we can find more infos about them? I tried to search but the results are quite complicated...
    thanks in advance.

    By the way: I use a combination of SAR indicator and bollinger bands on the 5 mins chart. Systems seems not bad, even if I'm still loosing money (about 50% of my starting capital...)


    ^_^
     
  9. cowmadagan

    cowmadagan Sergeant

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    If you look at things as simply as you possibly can, there are only four situations that the currency pair can be in. It's either in a downward trend, upward trend, sideways trend, or a reversal. Even though were looking at these charts, there are only two ways the price can go; up or down. The best analysts in the world look at any point on any curve and they realize there's a better than fifty percent chance that it'll do the one. The lousiest analyst in the world would believe that at any time you have a fifty-fifty chance of winning. In a downward trend you have a less than fifty percent chance that it will immediately go up. In an upward trend you have less than fifty percent chance it will immediately go down. Reversals look no different from take profit lulls until they get big.
    The fact is that we should all 'pretend' that we have a less than fifty percent chance of being right. That means risk to yield ratio, and risk to account balance ratio. If you use a 1:2 risk to yield then if you're right once out of three guesses then you'll stop losing money. If your risk to account balance is 1:10 and you go through a losing streak and lose 19 trades in a row your loss would be over 85% of your account! If your risk to account balance is 1:50 you would have a 30% loss of your total account. I like 1:100.
    That doesn't mean that you can't lose on trade number 20, and it doesn't mean you can't get forty winning trades in a row either.
    You should also know that some people use a strategy like 'double down' in blackjack. The purpose is that if you have a high chance of winning you should take the opportunity to increase your bet. I staunchly disagree with any increase in your bet by any more than double, and any time you go to 1:10 I think you're being a sucker. Unless you're betting on death, taxes, or an uninformed inadequately educated forex trader losing all of their money.
    Lastly, in business, there's only one way to fail, and that's quitting.
    That said, I also recommend trying to give your deals a chance even if they're looking sour. If you make a move and bail at the first sign of trouble there's a bigger chance that you'l be bailing more than collecting.
     
    #9 cowmadagan, Jan 5, 2010
    Last edited: Jan 5, 2010
  10. Randagio

    Randagio Private

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    I've tried with saxo bank before (quite good), and now I passed to dukascopy. They have recently lowered the minimum level of money you have to pull in in order to open an account. I find it's a fair and correct broker. Never had scam problems. Furthermore, there are some websites who offer up to 45% rebates of the commissions you pay at dukas, on a monthly basis. The one I use is Molecule 6. I have every month about 500-550 usd back in commission rebates (depending on how many trades i close in a month), which is a substantial advantage...
     

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