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pepy
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Everything posted by pepy
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H1 chart saw USDJPY is climbing up even in 3 days before USDJY weakly closed. Stochastic (5,3,3) saw the line is moving towards level 82 and keep increasing while RSI (14) is rising to level 67. It is possible that the rice will face correction today especially considering Stoch is near overbought area. The target is at most 101.502
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On H1 chart GBPJY successfully break the lower band and price is currently under pivot daily line. RSI (14) down to around level 37 and moving below EMA25. While the stochastic indicator (5,3,3) rose to level 60. Overall i think the price will keep bearish sentiment but not so strong and may ended up in EU session later. I recommend sell at most 132.502.
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USDCAD on H1 chart doesn't show any significant movement but the current price since the opening is under pivot line. Signal indicator RSI (14) and Stochastic (5,3,3) both observed to fall down to level 43 and level 59. Even not much but overall the trend showing bearish movement at least up to New York session.
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EURUSD on 30 minutes time frame observed to break down through the lower band and before formed bearish engulfing pattern. At this current condition other indicators such as RSI (14) observed to fall to level 38. Stochastic (5,3,3) also show the same signal with the indicator fall to level 24 while Macd (12,26,9) agree with formation of lowers low. Overall the bias is bearish to me, and i recommend to SELL
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GBPUSD seems down through 1.30002 psychological support. The price in 1 hour time frame also indicated at the same time able to break the lower band. Indicators such as RSI (14) observed to down to level 38. Stochastic (5,3,3) spotted to fall to level 31 area and lastly Macd (12,26,9) which formed lowers low. Overall the bias is bearish and i recommend to SELL.
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Bullish engulfing candlestick pattern formed in the NZDUSD pair on a 1 hour time frame which closed above the upper band. RSI (14) end up to around level 69. Stochastic (5,3,3) up to around level 59. Macd (12,26,9) with higher high. Bias is bullish and the price keep rising towards level 0.74002 which is psychological resistance for today.
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Bullish engulfing candlestick pattern formed in the AUDUSD pair at 1-hour time frame, after it was observed the price rise through the middle band. Indicator RSI (14) rises to a level of 55. Stochastic (5,3,3) up to the area 29. MACD (12,26,9) higher high. Bias for this pair's price is bullish and rise towards level 0.78002 which is psychological resistance. Bias bullish price towards 0.7800 psychological resistance.
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Basically it could give you something like that, profit which you all want, but it is not always what we think good money management is only lowering our loss, it is just for the sake of limiting the risk. But if you want to get profit ignoring the manage thingy, it is the duty of your trading analysis and/or strategies, because this is lead to the path of profits.
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Regulation, Do this really important for broker?
pepy replied to myregister's topic in Forex Newbies
If the regulation is strict and want to carry the fine to a broker who doesn't play fair then i would gladly to join there. It is important to have regulator since it will lower your lose later and some regulator even protect some funds of the client on that broker but with a note that they mustn't reach BEP for their investment there. Overall, i agree it is important for us. -
Semi manual robot? This is the first time i heard there is semi manual robot, care to explain? Well to me forex robot biggest disadvantage is bug, and that is always exist no matter how good you are to create a forex robot, after that there is something like flexibility which some people said robot's lack, but putting that all disadvantage forex robot is actually worthy since it has if not equal, more advantages.
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It is possible at first i don't think that is possible but it is possible. Well this could be done without loss if you are careful enough and have bigger capital but let me tell you that your earning won't be that big. This involved 2 accounts in 2 different broker, you hedge yours by open a position in one broker and then in the other broker it is better if you hedge in just matter of seconds. With this you can lock your position with small loss, no loss, or even with few profits. You gain not from this profit but from overnight rate.
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Who know about that also as far as i know i heard that it is for the sake to offset the risk of that broker and because of the cost or there is a regulation which don't allow them to accept scalping or accept scalping but with certain conditions. There is no reason broker not allow scalping trading method because if the main broker profit is spread, they will get many profit from scalping activity.
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Not just patience but also the right timing. If you keep losing your money you will get nothing even experience won't be something pleasure to you.I agree with what gaban said evaluation is truly important as the part of our reflection towards our trading, this benefit us greatly and may change of our behavior in future.
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@radex78 TRUE, it is better if someone want to find mentors make sure they do it offline. The best thing from that is you can directly communicate with your mentor. Don't underestimate the power of offline teaching since it will give better result because of the real interaction which is face to face and not just by seeing from the screen or through chat.
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Not really good but you can say that is acceptable for me to trade via smartphone. EA can be used there and to be honest nowadays phone is just lack of PC power to process the platform, and that is just 1 or 2 years lack of power and of course running platform such as Metatrader is very easy, you can even use more than one indicators here.
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See it is dependant, some people have a strong resolution to survive in forex, some has small resolution or even not at all. This is why you see some traders whose still survive even their account is destroyed by their act in past, but they keep learn and learn and that is one of the best effect forex could give to them, a strong spirit and not easy to give up.
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That rules are shady, to be honest i don't really like a broker which offers "handsome" amount of bonus but with shady rules follows, make it harder to withdraw my money or even to trade with it. Make it sure that is clear and bonus i think should stay as bonus, you can use it for trading but not for withdrawal.
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Well that is good if you have thought like that at least you will avoid much more losses with that attitude, because we all here know how risky and how volatile our earning here. There are much unexpected event in forex rather than in other businesses, but comparing fx and traditional work like compared ale and orange, right?
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why many people see forex trade as gambling?
pepy replied to rockstar's topic in Forex General Discussion
Because forex is very profitable, also the profit come in faster than what we think before. Our chance to grab profit in here is higher more than what we can imagine. In few seconds people can make profit and lured by their own greed people trying to speculate more than what they can afford this is the start of people thinking forex trade as gambling. -
I Think Forex is Just Gambling , Do you?
pepy replied to kiranchandra's topic in Forex General Discussion
if all people treated forex as gambling i am sure that this business would be end sooner and people most of them will lose because gambling means bigger chance to lose your money. I don't think forex as gambling , i think forex as trading as business. The core of forex is totally clear that is trading where you buy and i sell or vice versa. -
That is depend, because not all brokers do the same shady thing. Some brokers may accept broker such as gangster but that is if that broker want to invest in huge sum. Mostly that kind of broker is having less strict regulator such as CySEC for example or the broker which has central office in "No Tax" country. Gangster who incorporated their business into others usually want to avoid tax as much as possible.
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Sure, forex can be main job , all kind of job could be your main job. Well money is the other case i think the first is satisfaction. Talk off a bit from forex, we can see many unique jobs people created, they stick it because of their satisfaction not because they want to earn big. Well, FX offers high income for us, this is a good chance to turn it and grab it as your own job that gives you bigger income.
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Well that is the risk but it is better if our position closed since we know that our emotions is really hard to handle, even some people trying to rise or to lowering their SL to delay lose and hope the price will turn around, do you think this is not the work of our greediness which is our emotions? I doubt it but that is what happens, our emotions affect us and we need SL to suppress it.
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forex hours- what are the best forex hours?
pepy replied to asiaforexmentor's topic in Forex Expert Advisors
Overall New York session which make much change of the market, i mean just look at each time US news released, mostly the reaction of the market is very briliant mean there would be a huge spike and clear trends towards the market. Also US is like the central of the world now which make NY session as one of the best session you can get. -
One thing which come up into my mind of course the cost of trading, before the spread is high and broker gain much more markup but right now they can't do that, forex is one of the most competitive market with trillions turnover daily, this increase the competition between traders, brokers, and liquidity providers to make profit and at the same time lowering the cost.