haha..not feeling sad cause i lost 160 pips..was just wondering if there's any better way to indicate trend reversal, or at least being able to identify that the trend aint going to change its direction anytime soon..

IMHO, if u noe EW, i think it will benefit u as it can forecast when its gonna b trend change...anyway, there is so many ways, but i dunno its ok or not... u can try out candlestick analysis or bar chart analysis or MA(as support n resistance) or anything u comfortable wit... above all, risk management still is d most important, it will determine how long u will b in busines of forex..

to safe ur leg from been eaten by shark, u can actually use triple frame comfirmation...


at least forex is better than stock.. coz u cant see how many traders r quein for that certain price...if u can see how many people q'n, u scare out of shit...

edited: IMHO, u can look at volume as double confirmation.... i think u can hav a read a book titled Encyclopedia of Chart Patterns... its a good book, although d research is done in stock market, i belief it can b use in forex as both also invovle human emotion...

This post has been edited by low yat 82: Mar 19 2008, 10:13 PM

i'm new in forex..
i don know anything..
does anyone can teach me??
im very interested..
how to start??
pls pm me..

go babypips.com

if u really interested, i belief u can pick up slowly urself... we all were act still learnin

just wanna ask..
what is the suitable budget to start??
100usd enough??
and what forex broker to use??


This post has been edited by rexoxo: Mar 19 2008, 11:11 PM

diffrent people difffrent risk it can take.. u try demo acc n u will figure out how much is enough...treat it as real money...

haha..i know bout all the risk management and stuffs..i'm using 3 diff WMA to identify crosses and bounces. just wondering if anyone has better way of identifying. currently on a demo, out of 30 straight trades, i lost 4...hmm..still figuring how to better refine my entry/exit.

Actually, i dont have exit plans.. (since i set the limit to only 10pips)

anyway, went to forexfactory for some remedy, found something quite interesting, not sure you guys tried it before:

1) CCI (50) - above 0 go long, below 0 go short
2) SMA 39/39 (High/Low) - candlestick closes above/below the channel, long/short respectively. Though this one aint too accurate, only bout 70% good on back testing.

hmm..i am new in this forex thingy too...not bad....nice tool for me.
Good Luck everybody

if u ask me, 70% is a good record... but when does d back test done?i mean d date d test been conducted? wats d biggest drawdown? biggest profit?


WMA if not mistaken is more prone wit whipsawed,... mayb u need confirmation like candlestick analysis? or pivotal point analysis.. dunno...

edited: mIssfROGY, good luck to u too

This post has been edited by low yat 82: Mar 20 2008, 01:30 AM

I also new....fairly easy to learn.
I see my bf play...he explain to me abit....and i just play. Btw...no idea wats pips and all.....i just see ada untung i take profit...so far so good geh this tactic. (sometimes dunno much is better)

Lowyat82

This post has been edited by mIssfROGY: Mar 20 2008, 01:38 AM

small jeff
are talking about perfect indicator than can see trend reversal and bla bla bla?



the bold one u should work out more....
thats mean you have something wrong with ur reading the indicator + fundemental


This post has been edited by normeck: Mar 20 2008, 01:48 AM

huhuhu...HOLY GRAIL system a...i doubt it exist.. if got, no need put cut loss lor...

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Added on March 20, 2008, 1:53 ammy metatrader dun hav fibonacci retracement of 123.6%/138.2%/150%

how to add this o?

This post has been edited by low yat 82: Mar 20 2008, 01:53 AM

ooh..no no..i dont believe such thing as holy grail either. Anyway, this is just for sharing...who knows...it might suit you

For the WMA, when the faster WMA5/20 is near to the slower WMA100, usually i'll avoid trading there. Prone to rebounce. Also, notice the smaller rebounce of WMA5 on the WMA20.

As for the SMA39/39 channel, notice the candlestick's opening out of the channel, shown by red arrow. It is a hefty profit if it's in the 70%. Ofcourse, you'll need you other indicators to use along with this...you aint wanna use this when it's going sideways..

first u draw fibs on your chart.
then right click the chart, select object list, and double click the 'fibo'
then u can add it at 'fibo levels' there.

U can also make it to show the price on the fib lines.
To do this, add (%$) on the description.

Example;
Level - 0.382
Description - 38.2(%$)

wow.. thanks man!!!

how's ur tradin? im in process of openin real acc

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Added on March 20, 2008, 10:21 pm@small-jeff, nice stuff....

if u free, mayb u wan to back test it n do a complete research on it... IMHO, Mechanical Trading Systems-Pairing Traders Psychology with Technical Analysis by richard l. weissman is a good book to start with.. anyway, dats d onli book i read ab how to do thorough research

This post has been edited by low yat 82: Mar 20 2008, 10:21 PM

ooh? they have it in MPH? or is it an ebook? sigh...trying to save money for a live acc...

@Small Jeff
How much u plan to start with ?

Now I plan to start with USD 1k and focus on only 1 pair.. XAG/USD

May I know ..Normally you Diversify or Focus and which pair ?

dunnoo... u can try find e book well, dats d powerr of internet wat...

y not try awhile stock market... to get d feelin of makin / losing money... not really expensiv though... buy 1 lot(100unit), d min charges for buy n sell is around rm24 for hong leong.. d main objective is to get d real feelin of emotion control..

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Added on March 20, 2008, 11:16 pmwat is XAG?

This post has been edited by low yat 82: Mar 20 2008, 11:16 PM

@Lowyat 82

XAG/USD is Silver pair...

If you want the feeling... try Forex ... the feel is better than stock market.. hahaha.. Roller Caster!

ic... XAG /USD is silver pair...

huhuh... d feelin of forex of course much difficult to handle.. thats y i said try much less roller coaster feelin stuff... coz forex uses margin meanwhile local stocks(normal acc) not...