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pepy
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Everything posted by pepy
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EURGBP rebounded after failed to hold its position below 0.77598. Stochastic also support this condition with forming a bullish crossover then the there is a potential for this pair to strengthening back. If the price cannot break MA100 at this point then EURGBP will get the pressure back.
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H1 chart, GBPJPY seems hold itself and "take a rest" after successfully break MA100. but still there is a big potency for bullish trend. At this condition, i put high hope that GJ may rise to higher price or at the exact place located at 164.00 which is today's resistance, but if something wrong happened the price for sure will corrected.
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@dolgart: Not all newbies but many of them prefer this way, also there is a first time for everything isn't it? I mean you are the very first who try your scalping, but once again it is all depend on the choice and familiarity of a trader to one technique or strategy, it doesn't matter who love what.
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With the price fall deeper because of AU CPI which shows the bad result, now bearish potency of AUDUSD is open once again. But today, the bearish trend must pass support at 0.75584 first so this would continue to the lower price. If failed, there is a chance that AUDUSD will corrected.
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The pressure on USDCDA this morning stopped at 1.25643 which is today's support, Stochastic also shown that the price in oversold range. According to my analysis, USDCAD may rebound first and rise above MA21 before start to show a sign for bearish trend and fall further.
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EURJPY on H1 chart successfully rose and closed above resistance point at 126.00. This current position which above resistance, opening more chance to EURJPY to continously rise. I predict this pair will strengthening to around 127.45 or for the good cases to higher level.
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H1 chart. USDJPY seems rise this monrning as the prediction, so the price may will keep rising until test MA100 or the today's resistance at 113.23. If either MA100 or resistance level broken then UJ will have bigger potential to keep rising but if cannot break either one, i am sure the correction would happen.
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Forex forum Do you think forex forums can improve my trading skills?
pepy replied to flybiz08's topic in Forex Newbies
Yeah, it is a funny thing. Forex's skills like analytical skills, emotional skills are something which cannot be obtained by just post in a forum, read someone's posts, but it is all about practice. You need to read it first and then apply it in demo or real account, not just by read it or posted it. This is a wrong approach to improve trading skill. -
That's right hidden terms are very bad, also that is very destructive in long term because that is hidden and usually impose such an impossible rules for us. Makes me looks very bad. Not to mention that brokers who actually love to use that kind of hidden terms and condition is a broker which has much problem.
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If we don't satisfy then how can we get a better life? Well let me remind you that you must be satisfied for some period of time, for example in my cases if i reached my monthly target just said 150 pips i will stop and wait for the other chance next month to start trade and withdraw before if my account has sizable suprplus.
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Importance of Demo Account/virtual account in Forex
pepy replied to abdulla1's topic in Forex Newbies
Then this account is one of the best isn't it? Even sooner or later we will move to real account but demo account will always be demo account. People love it because of no risk there a very good place to learn and experimenting everything we want LOL, so it clear that virtual/demo account importance is so great in modern foreign exchange. -
Well i get your point now and i agree with you because it is not just you who is a retail trader but me too, i have an opportunity to earn and loss here thanks to leverage which i am using right now and leverage my capital to higher value. Also it makes trading more fair so all people from all kind of background can trade.
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Hm, it is such a common thing i've ever heard, but that is contain truth. Demo account is the most suitable place to learn since you will get lower chance to wasting your time and also demo account is without risk all there just virtual your loss to your profit, so it is clear as the best place to study forex, since i know most newbies tend to do trial and error.
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Trustable but not worthy, well let me tell you that kind of broker doesn't have a strong/strict regulator behind them so their start fee is low thus make them less reputable because if they are really good why don't invest in huge sum to prove that they don't want to play with us sooner or later? Also with less strict regulator behind them, there will be less fines if they did something fishy.
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That is still useful, even yeah not in all cases but in most or i can say nearly all cases you can use SL and depend on SL. This feature usually overlooked by newbies, well because they don't know or simply think that cut loss more worthy for their time than SL which they don't have control over.
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Yeah strong mentality will help traders a lot on their way to become a good trader, although we need. Even so we also should know that a strong mental can't be obtained for granted, there must be a willingness to learn and continue to gain knowledge so that a strong mental could be achieved, other than that if someone mentally strained they should refrain from trading this is for their good and should do it at all cost.
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Well it is true but not always like that because there are sometimes that Trailing Stop won't even move, especially if the price is moving against your prediction, also TS will see the liquidity on the market if the liquidity is big it will move, but if not it usually doesn't move because there aren't enough order.
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Forex may looks the same with gambling, but overall it is quite different. Only some people who are trying to make forex looks like gambling also forex in fact a different thing where people trade using money and gain money from trading not by gambling in the market.
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@gaban Well you can choose not to believe in robot, but robot proven to be useful depend on how people to use it. One thing you should note that here there are forex robot which doesn't work so well but there are also some which work so well but usually his one has complex way to operate and have its own certain rules.
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First of all i agree with onyx, you should know about forex itself because if you don't know how can you trade and of course practice. After gain knowledge you need to practice in demo account to see the result of your knowledge, can you apply it in you real trading because if you only learn about forex without even practice it, it would be a useless thing for you because you only get knowledge not experience, not a real practical activity. As for the broker i think all people has their own choose which they think as the best broker.
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In trustable broker @gaban, demo account and real account won't make much difference in terms of the market's price movements. But that is another story in dealing desk broker, because they make demo account looks great but in real account, they are the one who gain control not you so they monitoring each of your orders. In the end, demo account is for learning and experimenting while real account as it name suggest is a place to earn.
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I would love to invest huge amount of money in forex, at least hundred thousand dollars the reason is because with that much money we could gain much more profit, tend to be bulky it could be at around $ 1,000 per month depending on the way we trade, if fairly aggressive may also be more than $ 1000 per month.
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Sites like babypips actually so much helpful for many traders, one of the easiest way to gain more knowledge without need to spend money even for a single bit. Yes @aliforex i think people shouldn't forget demo account, sites like babypips combined with demo account on trustable broker is a very effective yet efficient way to study forex.
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Importance of Demo Account/virtual account in Forex
pepy replied to abdulla1's topic in Forex Newbies
I cannot stop putting the emphasize that importance of demo account as long as that exist all newbies will come to market and learn, this also could boost more quality on traders and increase the liquidity of the market at all cost. If demo account isn't exist i can safely assume that forex won't be as popular as today and the cost to trade would be higher than today.