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 Forex version XVII, Foreign Exchange Market Discussion

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carrer
post Oct 16 2015, 02:04 AM

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QUOTE(WhoCaresMyName @ Oct 16 2015, 01:37 AM)
i been observing aj from last week, both au and aj same pattern daily.

i think the rba focus on jpy more than usd.

https://en.wikipedia.org/wiki/Economy_of_Australia

main export partners japan 19.3%
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Very nice. You did correlation analysis too.
How long have you been trading?
carrer
post Oct 16 2015, 01:22 PM

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QUOTE(Yun Ho9696 @ Oct 16 2015, 11:02 AM)
Hey, do you guys use "buy and hold strategy"? How many of you use this strategy while trading in forex?
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In forex we don't buy and hold because it has no directional bias. This strategy can only be applied in the stock market or indices where they are long-biased.
carrer
post Oct 16 2015, 03:52 PM

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QUOTE(Yun Ho9696 @ Oct 16 2015, 01:27 PM)
normally the strategy is day trading ?
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No, it should be long-term, like Warren Buffett. Hold for 10 years.
carrer
post Oct 16 2015, 03:55 PM

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QUOTE(Pinnacle1295 @ Oct 16 2015, 02:14 PM)
For me, sometimes I do BUY & HOLD for longer-term but strictly based on W1 charts.
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With some fundamental analysis on the company, buy-and-hold the company's stock is better than keeping the money in the fixed deposit. I believe that is what you are doing.
carrer
post Oct 19 2015, 02:22 PM

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QUOTE(aviera @ Oct 19 2015, 07:48 AM)
Hi,

Any good advice for trade this week? Anybody really good in reading the trend using the candlestick chart?
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Why only candle stick?
What makes you believe so much in candle stick?
carrer
post Oct 19 2015, 04:42 PM

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QUOTE(aviera @ Oct 19 2015, 02:52 PM)
Dunno' . I don't even really understand the bullish bearish pattern or what so ever but at least it is a start for me to be systematic trading. Before this I just follow my intuition or "agak-agak" whether the trend will go down or not. But anyway it is because of Dr. Charles Burns video based on the candlestick and showing how to read the trend so that is why I am looking for someone who can explain in a more simplified way.
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It's not wrong by the way because there are thousands of ways to skin a cat.
If your approach is systematic, you have to be mathematical and statistical.

Do some backtesting, manually or automated, to see if the pattern has a positive expectancy.

Let's say you make a 100 trades on your backtest.

Calculate your winning percentage. For example 40%.
Losing percentage would be 60%

Then you calculate your average winning pips. Let's say 100 pips per trade (after commissions/spread).
Then your average losing pips. Let's say 50 pips per trade.

Profit factor = (40% x 100) / (60% x 50)
Profit factor = 10

This is a very profitable strategy. Anything above 1 has a positive expectancy.

carrer
post Oct 19 2015, 04:43 PM

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QUOTE(rachel9966 @ Oct 19 2015, 04:42 PM)
omg...... will stop out soon!

cry.gif  cry.gif  cry.gif

[attachmentid=5146527]
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Real account or demo account? How come your broker didn't stop your trade.
carrer
post Oct 20 2015, 02:00 AM

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QUOTE(9kingsir @ Oct 20 2015, 01:59 AM)
who is an EA programmer?
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Me.
carrer
post Oct 22 2015, 01:54 PM

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QUOTE(9kingsir @ Oct 22 2015, 06:26 AM)
need help on EA
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Can, you can PM me if you are not comfortable here.
carrer
post Oct 24 2015, 11:31 PM

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QUOTE(kjkam37 @ Oct 24 2015, 10:44 PM)
Some Trading Analysis links to share...
https://m.facebook.com/profile.php?id=1643803462567798

Happy trading guys!
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I saw this from the page and would like you to explain.

"Trading is 80% mindset and 20% skill"

Mind to elaborate.
carrer
post Oct 25 2015, 05:34 PM

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QUOTE(kjkam37 @ Oct 25 2015, 01:06 PM)
Hi Carrer,

Once you start trading, you will eventually realize that psychology plays a very big role in trading. You may have the best trading strategy and knowledge but if you do not master your mindset and emotions, you will eventually make a lot of mistakes and hence be wiped out from the market. This is why most traders cannot go far. By having self-discipline, passion and perseverance, then you will stand a chance to win from the market. Thanks Carrer. Have a pleasant weekend.
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Thank you for the reply. I understood this in the context of manual trading. However, this does not apply to automated trading where 100% of the psychological factors are eliminated.
carrer
post Oct 27 2015, 07:54 PM

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QUOTE(viruz @ Oct 27 2015, 11:12 AM)
Anyone has experience with robot trading? does it really works?
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Yes, it works.
carrer
post Oct 28 2015, 06:28 PM

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QUOTE(kjkam37 @ Oct 28 2015, 02:27 AM)
Dear Viruz,

Robot works, you would need to refer to its yearly performance instead of monthly, so u can get the consistence or more accurate performance of  15% pa.

P/s: robot enters trade at good timing, you may close the trade yourself to secure more profits.

Hope this input help Viruz.
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15% per annum is more realistic than 15% per month. What is the consistency? How long has it been profitable?
carrer
post Oct 31 2015, 06:34 PM

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QUOTE(Wanie404 @ Oct 31 2015, 06:05 PM)
hello guys , i wonder is there any market simulation/replay, kinda like metatrader 4 demo account , but you can fast-forward the historical data and pick any date you want, i want to test and practice a new strategy on demo but it's too slow, is there such things? preferably free
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http://www.forexfactory.com/showthread.php?t=70742

http://www.forexfactory.com/showthread.php...477#post3548477

Google must not be your friend.
carrer
post Nov 1 2015, 12:12 AM

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QUOTE(WhoCaresMyName @ Nov 1 2015, 12:09 AM)
my chart advice not good enough?  cry.gif  cry.gif  cry.gif
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Hello,

It would be good if you could post your profit and loss. When people see the profit, they will have more interest in your posts. Most people are lazy including me.
carrer
post Nov 1 2015, 12:54 PM

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QUOTE(capt1986 @ Nov 1 2015, 09:15 AM)
Seems one of our member suggested to upload some profit/loss of trades to attract attention, so I  agreed..hehehe..

Teaser for you guys..
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Not bad. Looks like really easy money.
carrer
post Nov 2 2015, 02:58 PM

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QUOTE(chrisyeap @ Nov 2 2015, 08:55 AM)
I used many EA in the past and lost a lot of money.  They only give me short term consistent profit and one day bad news announced, it affected the currency market and wiped up my account.  Since then, I took many courses and trade myself and learn the hard way.  I developed few methodology and design my own EA and put them into the market to test for years :
http://www.myfxbook.com/members/chrisyeap/mp-conserve/158782

Currently testing this with manual entry, EA only to help me close profit:
http://www.myfxbook.com/members/chrisyeap/...t-trade/1369148

Below is still the best I like, manual pending entry and manual take profit and very low drawdown:
http://www.myfxbook.com/members/MoneyPips/...ty-grow/1374835

Currently start to look into Malaysia stock market, taking Millionaire Investor Program by 8I, anyone joined before?  smile.gif
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First EA is clearly very dangerous. Looking at the equity curve it is obvious that you are using a martingale strategy.

The rest two are too soon to be able to judge since they had just started.
carrer
post Nov 4 2015, 08:56 PM

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QUOTE(Wanie404 @ Nov 4 2015, 06:04 PM)
anyone use ninjatrader for forex here? i want to try the renko chart
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I don't use it to trade, but I am quite familiar. It's a very good platform for testing and analysis.
You can choose Renko, Range, Tick, P&F, etc.
carrer
post Nov 5 2015, 11:14 AM

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QUOTE(Wanie404 @ Nov 4 2015, 11:44 PM)
i went to youtube for mql4 tutorial and they said the stuffs are already outdated because of the mt4 update in 2014 wtffffff how i'm suppose to learn
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You can still use the old codes.
carrer
post Nov 5 2015, 09:22 PM

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QUOTE(capt1986 @ Nov 5 2015, 07:16 PM)
SCAM..kalau autocopy trade, i believe..but if you give money to other to trade,then better u trade by yourself..autocopy trade and give money to other to trade is totally different..

In forex trading,we cannot promise that u will earn exact amount of money..u just can expect average income..

Nowadays, U can start with USD10 and some brokers can start with USD5..slowly learn bro untill u can do analysis and entry with reason..or if u are free this 29 November,just come to our basic forex class at putrajaya..no fee,just need to register under our network (free registration) so we can give bonus (USD35) for u to start trade forex..

Please dun fall into those scammer's trap..they promise u a wealthy lifestyle etc..

Contact me if u want to join the class:
Afiq - 012 419 7286 (call,sms,whatsapp,telegram)
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Afiq, can you PM me the details on the strategy, advanced classes (if you have) and any other details that you think a person who is not a newbie should know. Unless if you are only targeting newbies, then never mind.

P.S. You can write here if you think you can share with everyone.

This post has been edited by carrer: Nov 5 2015, 09:23 PM

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