Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» I am too pretty for math, but....
Making Big Bucks in the Forex Market I_icon_minitimeWed Jun 12, 2024 6:56 pm by Mission1st

» Interesting article
Making Big Bucks in the Forex Market I_icon_minitimeWed Jun 12, 2024 6:34 pm by Mission1st

» Phony Tony: New Platform, same old song and dance
Making Big Bucks in the Forex Market I_icon_minitimeWed Jun 12, 2024 6:32 pm by Mission1st

» The Craziness of Scam by "Tony TNT Renfrow" and the Iraqi Dinar Currency Scam
Making Big Bucks in the Forex Market I_icon_minitimeTue Jun 11, 2024 12:26 pm by Mission1st

» Even conspiratorial currency speculators aren’t buying a Russian ruble revalue - It’s not the next the Iraqi dinar
Making Big Bucks in the Forex Market I_icon_minitimeMon Jun 10, 2024 1:04 pm by RamblerNash

» Go Russia
Making Big Bucks in the Forex Market I_icon_minitimeSat Jun 08, 2024 5:20 am by Dorotnas

» The Fundamentals of Finance and Pimpy Live
Making Big Bucks in the Forex Market I_icon_minitimeFri Jun 07, 2024 5:02 pm by Dorotnas

» Carnival Rides
Making Big Bucks in the Forex Market I_icon_minitimeFri May 10, 2024 5:03 pm by kenlej

» Go Russia
Making Big Bucks in the Forex Market I_icon_minitimeSun May 05, 2024 10:51 am by kenlej

» Textbook Tony
Making Big Bucks in the Forex Market I_icon_minitimeMon Apr 29, 2024 4:13 pm by Mission1st

» The Rockefellers and the controllers are freaking out right about now
Making Big Bucks in the Forex Market I_icon_minitimeFri Apr 26, 2024 11:16 am by kenlej

» Phony Tony sez: Full Steam Ahead!
Making Big Bucks in the Forex Market I_icon_minitimeSat Apr 13, 2024 11:51 am by Mission1st

» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Making Big Bucks in the Forex Market I_icon_minitimeSat Apr 13, 2024 11:45 am by Mission1st

» Russia aren't taking any prisoners
Making Big Bucks in the Forex Market I_icon_minitimeFri Apr 05, 2024 6:48 pm by kenlej

» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Making Big Bucks in the Forex Market I_icon_minitimeWed Mar 27, 2024 6:02 am by Ditartyn

» ZIGPLACE
Making Big Bucks in the Forex Market I_icon_minitimeWed Mar 20, 2024 6:29 am by Zig

» CBD Vape Cartridges
Making Big Bucks in the Forex Market I_icon_minitimeThu Mar 07, 2024 2:10 pm by Arendac

» Classic Tony is back
Making Big Bucks in the Forex Market I_icon_minitimeTue Mar 05, 2024 2:53 pm by Mission1st

» THE MUSINGS OF A MADMAN
Making Big Bucks in the Forex Market I_icon_minitimeMon Mar 04, 2024 11:40 am by Arendac

»  Minister of Transport: We do not have authority over any airport in Iraq
Making Big Bucks in the Forex Market I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

Making Big Bucks in the Forex Market

3 posters

Go down

Making Big Bucks in the Forex Market Empty Making Big Bucks in the Forex Market

Post by alleyrose Thu May 02, 2013 6:03 pm

In the Forex market there are the technicians and fundamentalists. Fundamentalists are the traders that utilize fundamental analysis in their trading. They argue that for a trader to make substantial profits from the Forex market, he has to research a company exhaustively from stem to stern while keenly dissecting annual financial statements, comparing price earnings and other ratios, studying markets and competition to know if the company is a buy or sell. For fundamentalists, determining the worth of a company in the future by looking at the company’s stock chart is like trying to ride a motorcycle facing backwards. According to fundamentalists, the price does not give you any idea where the market is going but just where it has been.
On the flip side, technicians argue that analyzing a company from stem to stern is a waste of time; by the time a trader is completing to access the data the market will have already changed. Technicians only have to analyze the charts to know whether it is a buy or a sell. Using technical analysis help traders to make big bucks however you have to know how to use technical analysis appropriately to soar high in currencies trading.
In this article, we are going to look into details on how you can chart your way to good tidings in the Forex market using technical analysis.
Trade Valid Data

Technical analysis is designed to get odds in favor of traders and for a trader to trade successfully he needs meaningful data. Therefore, instead of day trading, look for trades that last a week or long term trend follow. Day traders never win big bucks because all short term volatility is random. Do not just use daily charts but utilize the weekly charts too to spot major trends.

Understanding Support and Resistance

All Forex traders who have made it big in the trading of currencies have a good grip of support and resistance. Trade in valid levels of support and resistance starting with weekly chart to see whether they line up with the daily levels to make a well calculated buy or sell decision.

Have a Good Grip of Breakout Methodology

While support and resistance can hold, they can break as well. A majority of major trends in the currency market usually take place when there is new market highs and not market lows. Many traders do not like buying new highs as they feel that they have missed a bit of the move. Though this holds water, these trends simply accelerate away and you should be prepared to grit your teeth and enter the trade.

Use Momentum Appropriately

Will support or resistance hold or break? You cannot tell with certainty and as such you should use momentum to your advantage. Whenever you enter a trade in the Forex market, your view should be supported by price momentum always. The best indicators to use for this purpose are Relative Strength Index (RSI) and Stochastic. These technical indicators will help you to time your trade better to get the odds on your side and make big bucks. If you are using Forex technical analysis to trade, never trade without incorporating momentum.

Keep It Simple

The trading system should be simple. Simple systems work best since they have fewer elements to break and also are more robust in real time trading.

Be Disciplined and Patient

Discipline and patience are paramount to trade successfully in the Forex market. You need to exercise patience and not just trading for the sake of it. Do not lose discipline and hurry for profits, when you enter a trade maintain discipline and ensure that you place a stop where necessary. Always have a realistic target.

All the best in your trading!!

2013-05-02 14:46:55

Source: http://www.traderslaboratory.com/forums/markets/16282-making-big-bucks-forex-market.html
alleyrose
alleyrose
Super Moderator
Super Moderator

Posts : 2851
Join date : 2011-08-24
Location : Australia

Back to top Go down

Making Big Bucks in the Forex Market Empty Re: Making Big Bucks in the Forex Market

Post by Kevind53 Thu May 02, 2013 8:08 pm

Like stocks, you can make a bundle, and you can lose a bundle just as fast. Caveat Emptor

*****************
Trust but Verify --- R Reagan Suspect

"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18

 Making Big Bucks in the Forex Market 2805820865  Making Big Bucks in the Forex Market 2805820865  Making Big Bucks in the Forex Market 2805820865  Making Big Bucks in the Forex Market 2805820865
Kevind53
Kevind53
Super Moderator
Super Moderator

Posts : 27254
Join date : 2011-08-09
Age : 24
Location : Umm right here!

Back to top Go down

Making Big Bucks in the Forex Market Empty Re: Making Big Bucks in the Forex Market

Post by HezekiaH Thu May 02, 2013 10:06 pm

I think I lost it faster than making it but sure was FUN!!!!!!!!!!!!! Making Big Bucks in the Forex Market 858978640

*****************
Wealth is what you have when all your money is gone!!!
HezekiaH
HezekiaH
VIP Member
VIP Member

Posts : 1651
Join date : 2011-06-17
Location : Earth

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum