Good day all ,am new in the house pls,i need your help all providing me an accurate daily forex trading signal details can be send to my mail address [email protected] thanks for your support i love you all
julius.
julius.
UKtradergirl
Established member
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Unfortunately, trading for yourself is not as simple as just waiting for someone to send you forex signals. I'm not really sure what you are even after here... do you want actual signals which tell you when to enter/exit a trade, or are you after a trading strategy/plan?
I would advise you not to trade signals sent to you by other people, which, incidentally, normally cost a lot of money and can be pretty disastrous if they do not fit with your trading style or comfort levels. The same goes for strategies really, there are a few good basic strategies on this forum if you hunt around but it will take a lot of effort to apply these strategies to your own trading.
If you are very new to this i suggest you start by learning about candlesticks, what they are and the different kinds, how to identify what a support/resistance level is and also learn about simple indicators like moving averages and volume.
Once you have learnt this you should progress to developing a way to put the knowledge into practise trading. Practise with either a demo account, or 'money you can afford to lose' (in small amounts!).
If you decide not to develop your own strategy but trade someone elses, be aware that it may not work the same for you as it does for them necessarily. Many things come into play, for instance, trade psychology. It may need adapting to suit you. And you will still need to learn at the bare minimum the things i have stated above in order to be able to understand a basic strategy.
Lots of hard work ahead of you- but good luck!
UKTradergirl
p.s. watch out for people trying to sell you strategies or signals- 95% of them are rubbish, and the remaining 5% are doubtable too. (i suspect you may get a number of them as a result of your post!).
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daytradingworks
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hi
I have been trading short term for 20 years. it really does work. I have a system based on fund and tech analysis. i know it works as i dont have to work for anyone again and the people i use to work for are still using it on a massive volume basis. look at but dont use one of the million of systems that are on the internet. dont start with candlesticks, afterall they are a directional trading sytem themselves.
do use a quality provider, you can tell these by the account sizes they accept. use a reliable platform or phone broker. be wary of spreads given etc and stick to the majors for a start.
I have been trading short term for 20 years. it really does work. I have a system based on fund and tech analysis. i know it works as i dont have to work for anyone again and the people i use to work for are still using it on a massive volume basis. look at but dont use one of the million of systems that are on the internet. dont start with candlesticks, afterall they are a directional trading sytem themselves.
do use a quality provider, you can tell these by the account sizes they accept. use a reliable platform or phone broker. be wary of spreads given etc and stick to the majors for a start.
Absolutely spot on UKTradergirl. I, as many others, looked for what is perceived to be an easy way. But they don't exist. Gaining a good understanding of technical analysis is the way forward, chart patterns, support/resistance, pivot points etc. A good book is Technical Analysis of the Futures Markets by John Murphy. With that I would also recommend The Disciplined Trader by Mark Douglas.
After hunting for the holy grail myself over the last 3 years I developed my own methods using some basis technical indicators, Parab Sar, EMA and support, resistance, pivot points. I trade Forex, GBP/USD mainly, EUR/USD as well but it is important to trade when the the major market trading hours overlap. i.e. 0600-0800 to UK/Tokyo and 1300-2000 UK/USA. I usually just trade in the mornings, up around 0530 and trade the first trigger after 0600. 80% of the time I hit my small target of 15-20 pips clear quite easily. Doesn't sound a lot but at £15/pip every day it more than covers the bills. However I have had the unfortunate, or fortunate, position of being laid up due to a nasty knee injury/surgery. I have been watching the markets and studying forum's like this every day for a month now. By doing this I have gained an intimate understanding of what the GBP/USD is up to. Understanding where the support and resistance levels are at a glance has enabled me to call the shots quite accurately to make good profits.
I have been trading the afternoons/evenings as well because I can...and can't do much else either!! As I type this I have just exited a trade, in at 1.5656 long (6.15 pm approx), SL1.5596(13EMA cross). Just sold it at 1.5884. A net profit of 228 pips.
This is exceptional. I run my stop losses up every 5 minutes locking in profit as the market moves.
The message I want to get across here, and support what a number of members have said, is that you need to have patience, learn the basics, don't chase the holy grail and master the biggest obstacle. YOU!! It has only since I have been in the position to study the Forex markets every day and reduce my stakes/margins that I am comfortable with trading. You can make a living out of this....far less stressful that setting up and running a traditional business. But study of the basics is paramount and developing your own methods through back testing, paper trading etc is a must. Remember Rome wasn't built in a day...!!
Not sure if this has helped anyone who is on the verge of giving up or helps me. But if you can afford the time, effort and small investment in books and time reading the good advice and guidance within this forum....then do it. It will pay you back many many times over.
Happy trading.
Mike
MichaelJJ and Trader girl spot on! If you want to trade you either have to develop your own or find a mentor to help develop your own. Now i hate using the word mentor because lazy people want the mentor to do all the work or they are looking for guru that will do everything. I trade 20 pts using only 2 markets Ftse futures and DAX. I am not looking at the DOW or Forex Traded them both not for me I also trade shares and i have trading plan. I can tell you over 3 yrs of full time trading does help and you need a helping hand but you have to make your own plan....
Example: Time! How long do you want to trade?
how much will it cost you copy someone else's system in terms of time money and software?
How do you know if they are any good?
There are plenty of book that you could read
Me I love the fact i dont have to go to work on the train and can roll out of bed and be done in 2 hrs but that is after £1000's and 100's of hours and many late night and tears on the stop getting hit and making mistakes.......
So listen to MichaelJJ, tradergirl and mE
Example: Time! How long do you want to trade?
how much will it cost you copy someone else's system in terms of time money and software?
How do you know if they are any good?
There are plenty of book that you could read
Me I love the fact i dont have to go to work on the train and can roll out of bed and be done in 2 hrs but that is after £1000's and 100's of hours and many late night and tears on the stop getting hit and making mistakes.......
So listen to MichaelJJ, tradergirl and mE
Last edited by a moderator:
that is a dream but not a reality i think
Absolutely spot on UKTradergirl. I, as many others, looked for what is perceived to be an easy way. But they don't exist. Gaining a good understanding of technical analysis is the way forward, chart patterns, support/resistance, pivot points etc. A good book is Technical Analysis of the Futures Markets by John Murphy. With that I would also recommend The Disciplined Trader by Mark Douglas.
After hunting for the holy grail myself over the last 3 years I developed my own methods using some basis technical indicators, Parab Sar, EMA and support, resistance, pivot points. I trade Forex, GBP/USD mainly, EUR/USD as well but it is important to trade when the the major market trading hours overlap. i.e. 0600-0800 to UK/Tokyo and 1300-2000 UK/USA. I usually just trade in the mornings, up around 0530 and trade the first trigger after 0600. 80% of the time I hit my small target of 15-20 pips clear quite easily. Doesn't sound a lot but at £15/pip every day it more than covers the bills. However I have had the unfortunate, or fortunate, position of being laid up due to a nasty knee injury/surgery. I have been watching the markets and studying forum's like this every day for a month now. By doing this I have gained an intimate understanding of what the GBP/USD is up to. Understanding where the support and resistance levels are at a glance has enabled me to call the shots quite accurately to make good profits.
I have been trading the afternoons/evenings as well because I can...and can't do much else either!! As I type this I have just exited a trade, in at 1.5656 long (6.15 pm approx), SL1.5596(13EMA cross). Just sold it at 1.5884. A net profit of 228 pips.
This is exceptional. I run my stop losses up every 5 minutes locking in profit as the market moves.
The message I want to get across here, and support what a number of members have said, is that you need to have patience, learn the basics, don't chase the holy grail and master the biggest obstacle. YOU!! It has only since I have been in the position to study the Forex markets every day and reduce my stakes/margins that I am comfortable with trading. You can make a living out of this....far less stressful that setting up and running a traditional business. But study of the basics is paramount and developing your own methods through back testing, paper trading etc is a must. Remember Rome wasn't built in a day...!!
Not sure if this has helped anyone who is on the verge of giving up or helps me. But if you can afford the time, effort and small investment in books and time reading the good advice and guidance within this forum....then do it. It will pay you back many many times over.
Happy trading.
Mike
Yeah help a lot. cheers