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pepy
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Everything posted by pepy
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The fundamental indicator is news, well news is good and news is awesome. The accuracy of news is quite high compared to the other indicators. I prefer this one because it has been proven to be a good indicator and the impact usually bigger and stronger compared to the other indicators and it is easy to use indicators such news and you don't have to trade every day for the sake of getting profit even you can do that.
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Can no deposit free money help you achieve success on forex ?
pepy replied to kaito kid's topic in Forex Newbies
Basically that is what people do, people think just about make profit and to achieve that one we need to trade. Deposit bonus means that you trade without need to spend every single bucks on it in this case it is no deposit bonus which means you don't make deposit but still get some bonus from it. -
Unfortunately, the only way to leave it behind and never look back is to go through the "looking for something phase". But never forget that you should keep thinking good and learn from your mistakes or what you are doing right. One last thing is do not OVER LEVERAGE or BE UNDERCAPITALIZED (they are the same thing) also never in a rush when you trade just trade in the same amount and never spend more than what you can afford.
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Should Forex Brokers Accept Bitcoin or other cryptocurrency?
pepy replied to bloger90's topic in Forex Newbies
Bitcoin transactions have eliminated global boundaries. By using bitcoin, a trader based in Africa can trade forex through a broker based in the United Kingdom. Regulatory challenges may remain a concern, but if both traders and brokers are willing to transact, then all geographical boundaries are eliminated and not to mention thou should know that bitcoin has less or even no fees for each transaction and it means lower cost per trading. -
The bug will always exist no matter what, it will exist in the way we don't even know, not to mention that robot's bug usually hidden especially if the coder decides to obfuscate the code makes it even harder to make some repairment to our robot. Without any doubt, the bug could lead to more losses and to be honest, this is the biggest maintenance of foreign exchange robot.
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I'd prefer foreign exchange over binary. First of all, binary is so simple and it still doesn't make much sense to me. Forex, on the other hand, plays an important part because how it works is really like trading, but to be honest, many people speculate here makes the price volatile. One thing i like about forex because of how we able to manage the risk regardless of how risky forex is.
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Long term trading for newbie sometimes painful and confusing sometimes not, and for impatient newbie they will find this kind of trading is boring and fruitless. Some people love it but to be able to trade in long term someone need patience, it would be good if that is an extreme patience. Long term seeks for big profit but in over long period of time.
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That is another issue but broker who wants their clients to be fail is dealing desk broker. They win when their traders or clients lose. Forex has something like this while in stock i don't really know about this one but overall it is relatively safe compared to the foreign exchange. Up to now in forex, I prefer non-dealing desk because it is one of the trustable type of broker in foreign exchange.
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With? of course with risk management .That is the only ways for trader to lower the risk and yes SL and TP are the tools for that, also aside from that you can put a strict lots usage. The last thing is you don't have to trade every day but that is all depend on your technique or your analysis. If you are scalpers i think trade everday or in higher frequency is must for you to do.
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I invest my money in foreign exchange because foreign exchange is one of the most suitable place for me to invest my money and also in forex it will be easier for people to earn money here compared to the other business especially if you know how to handle the risk you must bear in all of your tradings. One last thing I love about forex is leverage and also it has low minimum deposit.
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Sure there is nothing such a pure EA which may work in fact only few or some Expert Advisor won't work so well. EA also useful in certain area only, especially if you want to optimize while at the same time automatized nearly everything you want to do but still it is good to have manual control over your trading because it will still lower your chance to make more risky movement.
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This is one fo the best condition when I trade in foreign exchange, and it usually happens between London Session and NY session. If you love to trade with news especially for United States-based news you will meet this kind of things, and the good thing that volatility is above average, thus move the price to different place in relatively shorter time.
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Why Demo Account Performance Is Often Better Than Real Account Performance?
pepy replied to abdulla1's topic in Forex Newbies
Yes both of those accounts have benefits. The real account benefits aside from we will get experience is that we able to make profit. For me this is clear enough since demo account is the only place for us to get money. Demo lack of it but there is no risk of losing and this is why demo account performance usually better because most of traders able to control their emotions here since there is not risk. -
Yes, but do you have large amount of capital? Are you just simply trade because you want? In my own opinion, lower leverage is not good for newcomers it is good for someone who have a lot of capital in their hands. If you are not someone who have capital then you should think about that twice before applying for lower leverage such as 1:50 or 1:25.
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Sure, but it doesn't mean that we cannot make money just like the others, right? If we look to the fact once again it is true that everyone cannot earn profit but once or twice you still able to earn profit, so this is not a very big deal. I think many people fuss over this one but actually this is pretty much simple to solved and we can reach conclusion sooner.
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Pretty nice, i also agree with that leverage which is low is not useful for newbie, even some experienced traders will agree. At least they prefer 1:100 as the standard leverage or the highest. In some country foreign exchange leverage is lower like in US, as far as i know it is 1:50 and some people already complained but with no avail.
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Why Demo Account Performance Is Often Better Than Real Account Performance?
pepy replied to abdulla1's topic in Forex Newbies
Demo account performance is still the same, with exception that trader who trade in real account doesn't affected after the switch, mostly what i've heard about real account performance is that about emotions, the emotions which they cannot control or just shock after know that the risk is real in real account changed the way forex trader trade in real accoun compared in demo account. -
Mentoring in forex is necessary but not always. It is actually something which is optional for forex. I see some traders who prefer mentoring want fast way to learn, and nothing wrong with that. Autodidact is fine but you must know that you must search the answer by yourself and doesn't provided directly by your mentors, but by using mentors you can grow better.
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But i think PAMM is better, as you said it is more transparent isn't it? Not to mention pamm system also reliable as long as you choose the right pamm manager. So it is back to the pamm manager once again. Each pamm's progress is transparent and according to me it is up to us to choose which pamm manager we should choose rightly.
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It is quite risky for trader who want to be that way but i think i said it few times before there is a strategy which involved have more than one account in different broker, ex: 2 brokers = 2 accounts. Then you just do carry trading there with doing that you may lower the risk and chance of losing money is low except it is a human's error.
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Using forex artifical intelligence. i think it is one of the best thing which forex nowadays have. Well without doubt that forex AI would bring some risk to us but as long as you able to control the risk then you can use forex intelligence without any problem. I see that by use forex AI you could maximize your earning especially to those Forex AI which made by specialized company.
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Well, based on the daily chart it looks like gold is experiencing a strong bullish enough yesterday with bullish pattern formed yesterday, so this could be the beginning for the return of gold to the bullish track, but I would be more convinced if the price is able to rise above the MA line 21 back since that become the resistance point at the moment.
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CADJPY on 1 hour time frame is showing bearish sentiment, not to mention the price opening is below daily pivot line also MA25 and MA100. On the other hand RSI seems fall to around level 37 while Stochastic (5,3,3) rose to level 60. For now the prediction is bearish considering most of the indicators have bearish sentiment.
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Observed on daily chart it seems that EURCHF will experience on sideways will continue, for the pair trending movement could be a break in one of the top level at 1.1010 or below level 1.0623 , but it seems to be quite difficult to do, so it is likely the price will only play within the range just as expected before, especially with RSI making just small increment to around level 32 from 30.
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Meanwhile on daily chart, USDCAD continues to strengthen the current position also because of the response from buyer and getting closer to the upper trendline symmetrical triangle pattern, a break in the upper line is actually not the main option, so if it happens to be seen whether prices will continue to climb or just to correct this chart pattern