stephen2003
Well-known member
- Messages
- 274
- Likes
- 4
can somebody please advise me how to trade successfully using the forex factory figures ?.
forex factory
- Thread starter stephen2003
- Start date
- Watchers 4
Forget about all of them except the red coloured USD ones. If a number comes out substantially worse than the forecast then the indices will normally go down, better than forecast and they will rise. Defining substantial is impossible, you just have to use your judgment based on experience, if you don't have any experience then you'll need to spend a year or two learning. Don't try this with forex or spreadbetting, they'll screw you on the spread.
Go back through the FF calendar and see what happened on previous news releases, that should give you an idea of what moves the Market and by how much.
By the way this may sound simple but it's not. Don't expect to make any money for a long time.
Atilla
Legendary member
- Messages
- 20,861
- Likes
- 4,037
Good advice from pboyles.
Also what is it you want to trade?
What figures are you referring to?
Based on your question I wouldn't trade if I were you? PBoyles pretty much has your plan outlined - you should follow it!
Good luck. :!:
stephen2003
Well-known member
- Messages
- 274
- Likes
- 4
basically i am looking for providers that give good signals.
My mistake, I thought you actually wanted to put a bit of effort into learning to trade.
By the way there are no providers that give good signals. There are plenty that say they do but just take your money. Their most famous trading guru recently did a runner with a lot of money belonging to people like you that wanted to make money for little effort. His name was Jacko, you can read about him there.
stephen2003
Well-known member
- Messages
- 274
- Likes
- 4
actually i want to learn to be proper trader but nobody seems to want to help me.
they all want 4 figure upfront fees.
they all want 4 figure upfront fees.
You're not going to be a prop trader by buying signals off some goof on FF. Neither will you be a prop trader by paying someone 3 grand, a lot of those schemes are scams. If you can't be bothered to put years of work into it then forget the whole idea now.
stephen2003
Well-known member
- Messages
- 274
- Likes
- 4
ok at least you are being constructive, so how do i start ?.
First forget about forex and spreadbetting you need to trade futures, specifically the e mini S&P, the Eurostoxx and the German Bund. Go to FXPro.com and get an MT4 demo account for free. I know this is primarily a forex platform but they also give you a few futures contracts to play with, you can demo trade the S&P and Eurostoxx with them, though not the bund.
Unfortunately most futures brokers will only give you a demo account for a limited time, FXPro's one doesnt expire so you can keep going for months without having to go to another broker for a demo. Its not perfect but its a good place to start. You can move on later to something like Global Futures or Velocity Futures.
Study support and resistance, PIN bars and other candle formations and the news (like I explained earlier) and never pay anyone in this business for training or software. Most vendors are crooks or something approaching crooks.
That would be a start.
NVP
Guest Author
- Messages
- 37,936
- Likes
- 2,144
G
G.O.A.T
Too late they can already smell his blood
Circling like Vultures.
Lightning McQueen
Moderator
- Messages
- 4,992
- Likes
- 827
oh dear they've got him
Atilla
Legendary member
- Messages
- 20,861
- Likes
- 4,037
G
G.O.A.T
Stephen2003 you have 20 new private messages.....
no.1
Dear Stephen, please don't listen to people who tell you that you don't need a mentor, they are just bitter as they thought that they could go it alone and lost all their money. Ferrari...mansion...supermodel girlfriend....yacht,blah, blah, blah, wire me £2500....
G
G.O.A.T
oh dear they've got him
That one on the right is Jacko I tell ya, his beady little eyes give it away
Stephen2003 you have been trading since at least oct '08, I'm sorry to tell you this, but you should really have left this stage a longgg time ago. Just being honest, good luck
Last edited by a moderator:
Atilla
Legendary member
- Messages
- 20,861
- Likes
- 4,037
You can take a horse to water but you can't make him drink.
I thought your points were excellent dude - but I doubt he will even spend one evening on it.
Somebody like learning to drive - look Mr I only want to know where the accelerator and brake pedals are. Don't waste my time with the other fuzzy stuff. :whistling
He is a danger to his hard earnt money imho.
Atilla
Legendary member
- Messages
- 20,861
- Likes
- 4,037
