THESE PEOPLE WITH COLORED BADGES ARE NOT PROFESSIONAL TRADERS
Pizza_Money _&example4Forexfactory All Time Return:
48.7%
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DislikedI see a lot of people and the same types of threads again and again. You guys need to know what really is going on before you decide to take on currency trading. I'm going to make it as short and sweet as possible. THE GAME IS RIGGED Each broker of every type around forex uses algorithms to "hedge" against you. In a nutshell, they do not buy and sell, rather they use orders to push and attract price. It's may seem complex, but the market is a constant overlay of algorithms. Depending on your broker, you can achieve this in a microscopic way by placing...Ignored
Disliked{quote} hmm this is an interesting take and i kinda get what you meanIgnored
Disliked{quote} It is the real deal, not just a take. In currencies, you job is to beat the market maker, not the market. They hide behind the excuse that they are just creating a market, but these algos are being abused among other things and it's easy to pick up on if you know what to look for. Chances are the guy trading a few lots or micro lots in the case of forexfactory members is not going to move the market in his intended direction, yet the algos react to orders like they are. When the market is thin or no one is on your side at the wrong time...Ignored
Disliked{quote} how do you beat them? where would you position yourself?Ignored
Disliked{quote} That's the million dollar question isn't it. For me to answer that in a complete way would take having to show you for months and then see if you last a year. It definitely isn't going to fit in one forum post. Short and quick of it...areas of confluence with the catalyst for follow-through. Typically this is also where the real risk is. A dominant portion of the market moves are random in between point A and B's of every time frame. You can try to hop on a trend if there even is one and hope you don't get stopped out, but they know you're...Ignored
Disliked{quote} ah i see, so basically i’ve got to be where if they stop me it hurts them too?Ignored
DislikedCriteria: Currency strength weakness: Make sure your intended trade reflects the current state of the two currencies in your favorite pair. If EUR is weak and USD is strong in absolute terms then strictly look for short opportunity visa-versa. (one currency being stronger than the other isn't the entire picture...there needs to be true volume/liquidity) The pair you trade and how you trade it is one of the most important factors. There are utilities that you can purchase for your mt4 platform. Oversold or Overbought: Wait for the pair to become...Ignored
DislikedScalping or high frequency trading on retail platforms is hard. You are heavily disadvantaged as even if you trade via VPS there is additional delay because the broker should handle your order first. That's why choosing higher timeframes is reasonable way to get out of this competition where you are bound to fail.Ignored