What's the best way to be profitable in forex?

[FredCaires]

Like the title says, what are the best indicators or any other type of analysis that can make you profitable, is for example dailyfx.com profitable? Can you follow their signals or trade from their techincal analysis successfully?

 

[Trader333]

What's the best way to be profitable in forex?

Learn for yourself how to trade.


Paul

 

[Magos]

experiment and adapt!

 

[forexnetworth]

Trading Profitably

Greetings,

The best way to trade profitably in the forex market is to follow the institutions and banks that move large volumes daily. Identify the order flow and trade accordingly.

Trading opening range breakouts (London open) has proved to be consistently profitable over the years. Review the Big Ben Strategy as a starting point.

Happy Trading

forexnetworth

 

[rathcoole_exile]

Like the title says, what are the best indicators or any other type of analysis that can make you profitable, is for example dailyfx.com profitable? Can you follow their signals or trade from their techincal analysis successfully?

Niceguy777 perhaps you'd care to answer the OP's questions since you don't think the rest of us are helpful enough ?
"Trading is difficult enough as it is, so my feeling is that it's better to try to be helpful than to just spout stuff that isn't going to take anyone anywhere."

 

[bnaimy]

Like the title says, what are the best indicators or any other type of analysis that can make you profitable, is for example dailyfx.com profitable? Can you follow their signals or trade from their techincal analysis successfully?

Just use 30min and hour charts and look at support and resistance levels and add fibonach to it and you will do okey.

I personaly use 30 pip stops and go for 30 pip targets, sometimes more, but typicaly 30pips.

In 90% of the case you will get a decent bounce and will get your 30pips IF you buy/sell at support/restistance, i have attachd a few pictures and take a look at it and maybe that will give you a idea.

What i usualy do is this:

1: Wake up
2:Go true around 14 currency pairs, and find strong levels and then put my short and sells, and then go back to bed.
3:Wake up and see what worket and dident work.


Dont waste your time with indicators, all you need is support and resistance, and i use the fibonachi, just so that i know i will am not tottaly of.

I prefer to use the 30min and 1 hour chart.

Check the atttachmentts, there are a few levels there that i am looking to buy and sell when price reach those levels.


With kind regards
Bashir Naimy

 

[bnaimy]

Here are a few trades that i am waiting for, most of there i am going for around 60 to 100 pips, but look at your charts and decide where you want to get out, but u should get a minimum of 30 pips at least pr trade.

This picture is from one of my spread accounts.

Check those levels out and let me know if that makes any sense to you okey, they are all good level in my opinion and should provide good support/resistance, and they confluence with fibs as well.

With kind regards
Bashir naimy

 

[sayaquira]

1. Do not try to use someone elses method, unless you have similarities with their risk tolerance, and understand your personal strenghts. Trading is 90% psychological and 10% methodogical.
2. You have decided to hire "Mr Money" to work for you. In order for him to make money for you YOU MUST KNOW WHAT AND HOW YOU WANT HIM TO PERFORM. In other words have concrete objectives on each trade (sl, target, money mgt)
3. First research on the mind and psychological aspects of traders and identify yourself with them. Depending on your personality , objetives you will make your fist desicion. Trade short term, long term or both.
4.Learn, try and evaluate.. Learn , try and evaluate ... loop this actions until you gain confidence and then start the loop again with a new strategy ..

Success on you path .. luck is only for those who make it happen ..

 

[jiggly]

read up on jesse livermore,

extract the golden rules he outlines about stock market speculation and practice.

get experience through ongoing doing and learning.

there is no shortcut, just time, money and lots of pain....

 

[jazzidee]

The only thing that will work in the long run is understanding price action because it does not program you to look at one particular aspect of trading but rather the big picture(and over time it will get a lot bigger!). I'm not saying other forex methods dont work but it's best to go to the root than the branches because eventually the branches break off when the wind gets too strong . You have to program yourself to be the ultimate indicator!

 

[thierry911]

You need to find a strategy which you feel confortable with. Otherwise you wont be able to trade it.
I would then concentrate on risk and position sizing. By far the more important things to be successful in trading.
Do not expect return of 10/20% a month as you can see everywhere without the risk of blowing off your account.

 

[one2watch]

Like the title says, what are the best indicators or any other type of analysis that can make you profitable, is for example dailyfx.com profitable? Can you follow their signals or trade from their techincal analysis successfully?

I bought the traders secret code course from this site below and it's just doing wonders for me. I look at the chart for just 15 min at the begining of London session set it and go away. Pulled 100 pips on usd/chf and 92 on eur/usd last friday. I use 1 hour chart but this system works just as good on smaller time frames with tighter stops

Forex Courses

 

[thierry911]

You are trading I guess an open range breakout.. No need to buy anything it s available everywhere and free.

 

[FXCode]

The best way is to choose a trading system (optimally, a chartist one), and trade it with maximum discipline no matter how much you lose.

Read 'Trading In The Zone' by Mark Douglas. It is a must book for any trader.

 

[thierry911]

what do you mean by choosing a trading system.....Are you talking about buying one on the shelf.. or subscribe to a chart system and develop your own system?