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pepy
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Everything posted by pepy
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PAMM is different than HYIP even actually has the same ground where both of those are investment program. The difference is HYIP mostly(99%) are scams while PAMM is not, even yeah there are some bad managers, but not mostly i see that around 70% pamm manager are experienced traders.
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Knowing your loss is a good step to be profitable trader, but still you must make profit also to make difference between good and bad habit and this is where lose and gain profit is taking an issue or i can say taking its role. You will be able to success if you experiencing its all, but please note that more wins than losses.
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Should I put a lot of indicators on my trading chart?
pepy replied to flybiz08's topic in Forex Newbies
Confusion will only wait trader in the end if they insist to put a lot of indicators you can ask many traders all of them prefer not so much indicators so they could achieve simplicity and also accuracy at the same time. Many newbie think that put a lot of indicators will always or often give accurate prediction but in contrast usually it doesn't. -
Hm, if you put turnover on it, then it seems settled. Forex still a lucrative investment for any other people because its open nature and as you said the turnover is keep increasing and it is more than $5 trillion per day. Any kind of transaction would be absorbed inside even for the smallest lot size.
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Well aside from that we can talk many myths about forex here, one of those myths is demo account = newbie. This is a common myth but don't really popular because people never bother with it because it doesn't mean you already earn well you suddenly forget demo account, in fact many experts alike still use demo account even its frequency not as much as when they were newbies.
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@gaban: It seems he has the point too. Before i thought that less than $100 is good for newbie but it is not always the case, mostly of them find it is hard to invest in a reputable broker with less than that, mostly reputable broker ask for $250 or even higher for initial deposit. But if a newbie still insist there are a lot of bucketshop that you could try, usually they don't tackle newbie too much until it start to show significant profit.
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Importance of Demo Account/virtual account in Forex
pepy replied to abdulla1's topic in Forex Newbies
It is a common mistake to associate demo account with newbie, or novice trader who doesn't have any knowledge or experience. In fact demo account also a good place for experienced traders to do something with their experiment, if new strategy is coming out a trader will first put it in demo account for a while before try it in real account. -
But one thing that i like about them is that they promote their member's project, well if you have your own for example e-currency exchange, you can promote it through their page , but since this one is new maybe you won't get much visitors but at least this way is worthy for trial. So far i don't see this happening in many e-currency i've ever met.
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Some brokers already supported this payment processor, it is a good first step, the next one that admin should make sure that pay.co also enter online shopping or if admin want HYIP industry, the turnover is big enough to support forex as the main source of pay.co's clients
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It is a nice forum for someone who want to earn money from trading not for someone who want to earn directly from posting. This is more like you get bonus from each valid posts, not all of your posts will be valid but i think most. MT5 forum is actually a sponsored forum where Instaforex is the sponsore behind.
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It is only because it is useful and user-friendly plus broker from over the world already use it as the main platform for trading, before it wasn't but thanks to big adoption people stick with it for some years and create a lot of useful indicators, not to mention the company also has good support for it.
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But please remind it carefully that Although Forex robots promise make profitable trades and some company can earn well from it, they are not all they’re cracked up to be. Some of them or maybe most of them you can find online where people trade it are scams or at least have temporary good effect if that works
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@ myregister: You said it, i mean look it carefully if you don't leave your greed you won't overcome your greed and i feel this is a very bad news for traders who want to get profit and minimize the risk in this high risk industry, isn't it? If you can leave it then do it, everybody can do it in fact.
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Stop loss hunting is one of the ways for bucketshop or dealing desk broker to be always or stay in profit. Some of them have different way. If you are in profit and want to reach your target they simply play with spread and increase the spread all they wan even more than 10 pips if possible, usually broker do it quietly
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EURCHF bounced back yesterday, but again they have not been able to make a new high. The scenario for this one if the price is able to rise above 1.11609, the reinforcement is likely to continue even higher, but if it fails then there is a chance for the pair to start forming bearish trend.
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EURGBP seen trying to climb back to above resistance level at 0.76194, and if this effort is successful, EURGBP could return to the bullish state which resulted to expansion at higher price, but if that fails, then EURGBP will be depressed and begin to move down again once more.
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USDCAD as spotted on H1 chart fell sharply yesterday, but the movement was restrained by MA100 once more and it seems trying to make some comeback. Stochastic also been oversold indicated that it may lead to price saturation and if the price is not able to pass MA100, then there is a chance for the pair to rebound.
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NZDUSD this morning cannot even break MA25 and instead strengthening to the higher level and even closed above MA100 and resistance level at 0.66281. With the current condition, this pair still able to continue its bullish trend, but if the price in few hours later fall down and closed below MA100 it seems this pair may have limited uptrend.
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On H1 chart, it seems USDCHF successfully do correction but halted by MA100 line. Even like that, this pair still has chance to fall down after breakout. First, MA100 must be broken so then this pair has maximum potential downtrend and fall at most to the next target which at 0.99346.
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Well, most forex brokers charge no commission or additional transactions fees especially the one that operate online. Combined with the tight, consistent, and fully transparent spread, forex trading costs are lower than those of any other market including stock market itself. Most brokers are compensated for their services through the bid/ask spread which is very competitive.
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Education, newbie should involves making an investment of time (and perhaps also money) in the process of developing knowledge about forex trading and enhancing your forex trading skill set. If you can avoid some of the most costly beginner's trading mistakes by taking a good forex trading course, that alone will probably pay for your education for the whole time.
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If you want to gain consistency then consider discipline, without doubt it is the foundation of everything, not just in trading but in life as well. If you lack this then you will always struggle to achieve goals no matter what they are and will be stumped time and time again by frustration and disappointment.
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Right, retail traders, big bankers, private hedging funds and so on are the part of forex itself and you know forex turnover daily is keep growing, the latest one i get is around 4-5 trillion and i hope it keep increase more and mid-class movement in some developing countries keep looking for more money and fx is one of the most feasiable way for them to invest their money.
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Nope that is too risky for him, it seems that the thread starter is someone who are newbie to forex and want someone to do it for him. The best course of action for this issue is invest in PAMM account. But what broker that have pamm account? A lot of them have it, one of them is FXCM a reputable broker that regulated by various strict regulators like CFTC, NFA or even FCA and MFSA.
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Yes, It doesn't have any scams since it is market not the one who do crime like brokers, forex robot vendors and etc. But you also need to know that as long as forex exist, scamming from those parties i said above will be always exist and want to make profit from scamming people especially to one who are new to forex.