Peter Brandley

Mostly peoples trade on the major currency pairs that are paired with the U.S. dollar including the GOLD and Silver. I think the Best trading pairs are

EUR/USD , GBP/USD , AUD/USD , NZD/USD , USD/JPY , USD/CHF , USD/CAD , XAU/USD (Gold) , XAG/USD (Silver)

What do you think?

Forex is Very Profitable ..once we know what we are doing ..

The hardest part of all was how do we able to dance with the market ??

Everyone was looking for the best strategy or the best EA to help'em out .. but

in the reality .. No one can beat the market ..

All U Want Learning and practice and more practice until U Make Profit More than Losses

It's hard to be able to feel satisfied here .. So sometimes .. We only need to be patient .. and gratefull ..

Compared to traditional bar charts, many traders consider candlestick charts more visually appealing and easier to interpret.

Each candlestick provides an easy-to-decipher picture of price action. Immediately a trader can see compare the relationship between the open and close as well as the high and low.

The relationship between the open and close is considered vital information and forms the essence of candlesticks.

White candlesticks, where the close is greater than the open, indicate buying pressure.

Black candlesticks, where the close is less than the open, indicate selling pressure.

Buying and selling operations are made by lots. The bigger the lot size, the higher the profits... And the risks too.

There will be periods where you will have to wait for the trend to revert - i.e. you have placed a buy order but the trend is going down and you are temporary at a loss. This is a normal situation that happens all the time, do not worry about it!

Actually the main thing you should worry about, is your lot size... There is only a limited amount of money in your account, and if your lot size is set too high, a temporary (I insist on that term) draw-down could wipe it out before you get back into a profit.

By reducing the lot size, you will make smaller operations, and you will therefore be able to survive to bigger draw-downs. Supposing that you are doing only 1 trade at a time, and according to my experience, the right lot size would be:

Mini-account of $1000: 0.1.

Mini-account of $3000: 0.2.

Mini-account of $5000: 0.5.

Account of $10,000 and more: 1.

Always try to remain reasonnable - a bigger lot size would make more profits, but where's the profit if your account gets wiped-out and you can't trade anymore?

Please be free to share with us your experience, ideas and knowledge....

Lot size do account in forex trading. It is important to have an account size which you can trade lot sizes which you're happy with. If you NEED to be trading $1 a pip to be satisfied, make sure your account is big enough for that kind of leverage.

To be successful save your money and save up so you can open up a larger account

In a sense, every successful trader employs money management principles in the course of forex trading, even if only unconsciously.

The goal of this thread is to facilitate a more conscious and rigorous adoption of these principles in everyday trading.

For many forex traders, the forex market is a game of balancing fear, greed and hope. When a trader is out of balance, he likely will lose money, and if he is out of control, he will lose balance. Well-designed money management concepts can help to keep the trader in control at all times.

Trading FOREX involves three interrelated, yet somewhat separate operations:

1. Analysis of when and at what price level a market will top and bottom.

2. Market Entry and Exit â€" the actual buying and selling (or trading) once the decision has been made.

3. Money Management, perhaps most aptly called the art of survival.

Most forex traders spend 99% of their time on analysis and the buying and selling of currency pairs. Many of these traders ultimately join the legions of ex-forex traders because they ignored the most important aspect of speculation â€" money management.

You can be a good analyst and lose money trading due to poor money management. But, if you have sound, market-proven money management concepts, and the discipline to follow them, you will never lose all of your money.

There is no guarantee that you will make money using these money management rules, but you will never lose the farm.

Before entering the market, determine a stop/loss as a profit objective Many traders often enter the market with a price objective, but without a clearly defined protective stop. When the market moves against them they are often forced out of the size of their margin call. They lose control, and the results are often disastrous. What should have been a relatively small loss becomes an extremely large loss.

With a pre-determined price objective and a pre-determined stop/loss, you know where you will get out if you are wrong and where you will get out if you are right. You have control.

The stop/loss must be in the market, not in your mind.

If you have been stopped out only to have the market make the move without you, the problem was how you determined where to place your stop, not whether to use stops.

Never risk more than 10% of equity on any single trade. If possible, risk 5% or less. Never risk more than 20% in any one complex.

If you are like most traders, you always figure how much you could make. The question of how much you could lose if you are wrong is never quantified.

You are out of control.

The most important question in trading leveraged markets is â€" How much of your equity is at risk? On any given day, for any given trade you must know how much you will lose if the market goes against you. You can maintain control by never risking more than 10% in any one trade, and by adjusting stops so you are never risking more than a maximum of 20% of open equity at any time.

Yes, money management is one of the important factor. Every inverstor should have to consider it and apply it to make investment. Its really important.

In stock and futures trading, money management plays an important role in every success of a trading system. This is closely related with trading expectancy:

“Expectancy” which is the average amount you can expect to win or lose per dollar at risk. Mathematically:

Expectancy = (Trading system Winning probability * Average Win) – (Trading system losing probability * Average Loss)

We are all had struggles with the Forex and we're all wanting to better our trading results.

Forex has to be one of the most difficult things in the world to master for most people. But in order to to be successful and profitable in the long term - 3 important elements are needed:

Yielding + Earnestness + Self-Mastery

What is your views on that ?

i really dont know dose it worth it or not

for me i'v trading for 2 years and i dont see any improvement for me i still gambling and cant foucs on one strategy

Forex isn't a place for gamblers; it's a place for traders; it's a place for business persons who don't see FX as an easy way to riches, but rather a business which you build consistently; on a solid foundation.

In a sense, every successful trader employs money management principles in the course of forex trading, even if only unconsciously.

The goal of this thread is to facilitate a more conscious and rigorous adoption of these principles in everyday trading.

For many forex traders, the forex market is a game of balancing fear, greed and hope. When a trader is out of balance, he likely will lose money, and if he is out of control, he will lose balance. Well-designed money management concepts can help to keep the trader in control at all times.

Trading FOREX involves three interrelated, yet somewhat separate operations:

1. Analysis of when and at what price level a market will top and bottom.

2. Market Entry and Exit â€" the actual buying and selling (or trading) once the decision has been made.

3. Money Management, perhaps most aptly called the art of survival.

Most forex traders spend 99% of their time on analysis and the buying and selling of currency pairs. Many of these traders ultimately join the legions of ex-forex traders because they ignored the most important aspect of speculation â€" money management.

You can be a good analyst and lose money trading due to poor money management. But, if you have sound, market-proven money management concepts, and the discipline to follow them, you will never lose all of your money.

There is no guarantee that you will make money using these money management rules, but you will never lose the farm.

Before entering the market, determine a stop/loss as a profit objective Many traders often enter the market with a price objective, but without a clearly defined protective stop. When the market moves against them they are often forced out of the size of their margin call. They lose control, and the results are often disastrous. What should have been a relatively small loss becomes an extremely large loss.

With a pre-determined price objective and a pre-determined stop/loss, you know where you will get out if you are wrong and where you will get out if you are right. You have control.

The stop/loss must be in the market, not in your mind.

If you have been stopped out only to have the market make the move without you, the problem was how you determined where to place your stop, not whether to use stops.

Never risk more than 10% of equity on any single trade. If possible, risk 5% or less. Never risk more than 20% in any one complex.

If you are like most traders, you always figure how much you could make. The question of how much you could lose if you are wrong is never quantified.

You are out of control.

The most important question in trading leveraged markets is â€" How much of your equity is at risk? On any given day, for any given trade you must know how much you will lose if the market goes against you. You can maintain control by never risking more than 10% in any one trade, and by adjusting stops so you are never risking more than a maximum of 20% of open equity at any time.

Money management is important- but self-discipline is essential for Forex trading such as:

* You should know exactly where to enter and exit the market.

* Set up stop loss levels and move them if the market favours you.

* Close positions if you got the profits you expected.

* Close positions if your losses reached the limit.

* Control your emotions.

An advice for you guys- You will regret if not tried this

AUDUSD sell @ 0.9991;stop: 1.0015!

I am sure you will get some profits

I need some help on learning how to figure out the daily support & resistance points.

Thank You

I agree with all of you. There is no indicator that can predict the future. One of the best things for me are trendlines. I base everything off of them and the indicators that I do use need to support what the trend is. It also helps me get in or out at a better price.

Do you agree? Let's me have your opinon guys

Thanks