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vicky_ag

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Posts posted by vicky_ag

  1. Re: Correlation Cheat Sheets

     

    For people looking to trade EU and GU, it is better to look at EG. IF you look at it , it is :

     

    EUR/USD / GBP /USD = EUR/GBP

     

    So, when you think of USD strength, taking trades in direction of the favored currency in EG will net you more profits as compare to the unfavored one.

  2. Re: Is it safe to trade Forex for Living ?

     

    If you have been good at it say for 6 months / 1year, yes it might be a good idea.

     

    But, as a newbie it is a very bad idea. As Cryillic points out, kings of different countries is the best example even I cud come think of.

    Plus, if you depend on it for your living, there are times when you get desperate cause you are having a bad streak and in desperation you commit more mistakes which then extends your streak and it then becomes a vicious cycle (desperation, mistake , losing money, desperation ...)

  3. Re: Automated System or Manual System?

     

    When I started, I was on a EA, a very famous scalping one. It used entries at specific times and took a huge number of scalps. Now with time the brokers got a wind of it and widened the spread, just enough to make sure that the scalps turned to losses at the end of the day.

    So, EA not a good option cause it has an element of predictability but as a human we tend to miss even on a good trade if it looks doubtful. That in my opinion creates a way which cant be beaten easily.

     

    But if you are the kind of person, who likes to pick all the pips coming his way (even if the trades look doubtful), then yes EAs are the best. Personally, I like to make enough and give any doubtful trades a miss, that doesnt make sure a 100% win ratio but I am comfortable to it.

     

    So, frankly it is more about your trading personality, you should ask "What kind of a trader , I am?" Though with the first post of yours, it seems you like to earn money but with minimal effort. So, better go for an EA. :)

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