Helppppp..

[italianlion]

Hello forex community ,a question. do you guys stay on a couple of specific currencies and wait for the prices you want, or you get into any trading position that you think will go positive ?? or does it really not matter ?? also who would consider the fx market to be like the real estate market.. thanks guys...

 

[Pat494]

Having the option to trade about 16 pairs does give the trader more opportunity. Very boring to sit by your PC waiting on just 2 pairs, but maybe a better ploy if you have the patience.

 

[tomorton]

I wait in cash for entry signals that offer a confirmation of trend and hopefully some indication of renewed energy in the with-trend direction. If there's no trend, I don't want my money sitting round in a position that might equally likely go against me. The longer your money's in the market, the more its at risk of an unforeseen event.

Going with the trend is a real trading edge, its not dramatic or emotionally exciting or intellectually challenging, but it works.

 

[italianlion]

I wait in cash for entry signals that offer a confirmation of trend and hopefully some indication of renewed energy in the with-trend direction. If there's no trend, I don't want my money sitting round in a position that might equally likely go against me. The longer your money's in the market, the more its at risk of an unforeseen event.

Going with the trend is a real trading edge, its not dramatic or emotionally exciting or intellectually challenging, but it works.

thanks for you're reply tim, how do you specifically know that a trend will occur ?

 

[tomorton]

thanks for you're reply tim, how do you specifically know that a trend will occur ?

I go for trends that have already made themselves visibnle, that I can follow, so no prediction involved, except for the knowledge that once a multi-week trend is in place, the most likely thing it will do tomorrow is continue, the least likely thing it will do tomorrow is reverse.

So I use price evidence as to what has already happened to determine what I will do, not what the market will do. I use simple stuff like the level of price and an EMA relative to this and the other, plus how long since the EMA was breached and so on. No off-chart indicators.

 

[italianlion]

I go for trends that have already made themselves visibnle, that I can follow, so no prediction involved, except for the knowledge that once a multi-week trend is in place, the most likely thing it will do tomorrow is continue, the least likely thing it will do tomorrow is reverse.

So I use price evidence as to what has already happened to determine what I will do, not what the market will do. I use simple stuff like the level of price and an EMA relative to this and the other, plus how long since the EMA was breached and so on. No off-chart indicators.

what does ema mean?

 

[tomorton]

Exponential Moving Average. Some prefer Simple Moving Average (usually just "MA", sometimes "SMA") but there isn't much difference in most strategies which you pick as long as you consistently stick to one or the other.