Of course, forex is very dependent on daily news, any news that involved any central banks, any government plans will change the market sentiment. It's a fast game.

This guy Kishore M have a lot of advertisement in The Sun and TheStar newspaper. Previously he was advertising Options Trading, recently all his ads are for Forex Coaching. I think his company is based in singapore.

Do a google on Kishore M, there is a lot of negative feedback from victims that have signed up for his coaching. Better try other forex guru or gamble it yourself hehehe.

This post has been edited by sephiaric: Feb 23 2009, 06:02 PM

Nah you dont need to master stocks before you jump into forex. I didnt touch stocks and I entered forex directly.

There are conditions involved though.
They are :
Take Adam as your sifu
Do constant reading on fundamentals and understand it.

Ah, fundamental. I normally just skip that part for technical instead. There is an indicator called 'FFcal' which I think you all know. So do should use this and how to predict its either it bull or bear?

You're not pointing out the flaw, you're pointing out the limitation, and i'm sure we all agree that an automated trading system is just that, strictly programmed to do what it's told, i'm not disputing its limitation, what i'm saying is criticizing EAs as simply for noobs disregards its usefulness.

Saying the limitation is a flaw is like saying cars suck because they can't fly.

Your example seems to be pointing out the strength of an EA rather than its weakness, if there's a sudden super bad news released and the price moves against you abruptly, your EA would save you by recognizing the change in trend and cut your losses early, which wouldn't be different from you trading manually with stop loss orders, but if you were trading manually without any such orders and you failed to respond quickly or were busy doing something else, you're screwed.

Ok la, we have an EA trader here. We have FA expert, indicator expert(Ibrahimovic), Bank trader(txi), forex salesman, chartist, scalper, what else we miss...we are a team

Lol, I'm touched being said an indicator expert! But yep, anyone here can get help from another person. Hopefully we all could make lots of pips someday.

orangysb.. no point argueing.. show us that we are wrong on EA by using it for 6 months on demo. no backtesting please.. real time usage..

thanks for the advice...
it shud be very useful for all of us...

Since there are so many experts in Forex here, I would like to get some help. I have a friend who recently went 2 dis convention in midvalley by kishore himself i think. He said dat it sounds convincing enough and it can be started with just 100USD so since den he started reading his books. Since I would also like 2 try a hand in forex but I would like to keep my options open n I would like fellow experts to advice me on which books shall I pick up on forex as I'm a beginner in Forex n too a beginner in finance as I'm of an engineering major, but I think my analyzing skills would be of advantage in analyzing forex, neva really noe though.

@babytensai
u wont need books since your a beginner.. at least not yet.. what u need is www.babypips.com/school ..

Thank you orangysb for pointing out the automation. It just happens to me that not everything of automation is bad, but somehow or rather some automations are just not needed. Depending on how you look at things, automation varies. Would you buy a voice-activated typewriter which costs a hefty sum or would a plain keyboard do the job? Unless your hands are 100% occupied all the time, I presume most ordinary people would settle for the classic. As for the convenience of EA, it is also practical that a trader must know what he needs to commit before trading. Time is of an important factor, do you agree? Even in these blazing fast era, one cannot make it without sacrificing time. The opportunity cost exists in all forms including monetary and the intangible. If the trader is indeed that busy, would it be better to switch over to different timeframe ? Longer term trades would require less attention and of course the cost here would be higher capital and patience. In relation to the opportunity cost again, if you abandon your work and have loads of free time you can scalp till kingdom comes and still opportunity costs are stopping by to say hi.

In conclusion, my stand towards EA is on a neutral corner. There's no sure fire way to financial freedom. You can make it your way, and the manual traders can do it their way. If EA really do succeed, share the wealth (of information la). If manual succeeds, ask and you shall be answered

The look on EU as I post:



It's a upwave in the downtrend and the pic above is making me look rather torn compared to the few bars back. The indicators are yet to be in their best places, but a weekly chart shows exactly what I'm looking for. Good luck in the near future

All the free forex seminar out there are convincing, the promise can help you double your capital within a month, 90% accuracy and so on. This is how newbie fall into trap. But of course not all forex courses are bad, I heard a lot of negative comment on Kishore's course as well. Anyway, imagine you pay a few thousand ringgit for the course.

www.babypips.com/school is more than enough. There are no shortcut in forex trading I guess.

@leontak
very nice arguement on the EA. The reason why I do not believe in EA is because I have yet to know any big names in the forex market that made big bucks through EA only (meaning technical analysis only without application of fundamental).

AJ making a LL and LH during previous moment (blue rectangle)

Followed by yesterday, market break the previous H (pink rectangle). So where will be our new HH?

Posibility might at the red TL.

But for me, I believe the red TL wont hold as a resistance. Market might hit red TL and retrace. But the TL wont hold for long


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yen pairs just retreated.. could be retracement... but on 4h its bearish engulfing..

gu


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small-jeff and mphpopular just acting noob in one of the thread out there, apalahhhh

tried to register with ibfx, sent over my id, drving license, bla bla bla

so many hassle, they say my address ID & bank statement not the same lah, scanned copy cut off at the edge lah, then said i musnt include watermark lah.

realli......

@,@
Where?