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27/65
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Abstract:
Some people have the capability of "business man or woman" by nature but others need to learn and have a process to get success.
I am not a business man by nature, in fact, I prefer to buy things to cover all my needs because I never wanted to be a businessman until to know about Forex Market less than two years ago.
This kind of business has from my view point two majority groups, trader, and investor.
The purpose this article is to expose the main features of each and share with you a tactic used today by some investors in Australia.
1.- Trader:
Working as a trader on Forex Market I can say that there are two ways to the pursuit and get profits, it is scalping or trading with techniques and tactics in a period of short term.
By scalping is oriented to people who likes to get in on the Forex Market take some profits (less than +10 pips) and get out quickly.
Trading in a period like a mid or long term we could have big profits like +50, +100 but less than +500 pips.
But the process and strategies are equal or more planned and structured than for scalping. The main difference is about stress.
Scalpers need to be monitoring the position or watching the charts …
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Wovch avatar
Wovch 29 Nov.

interesting

arjaq avatar
arjaq 1 Dec.

I am type 3: speculoinvestor- fast speculations for relax and long term carry positions for high profit investment on forex. I also stack good stocks - yet I consider my stocks rather as an insurance for life than investment.

Beto avatar
Beto 2 Dec.

That sound very good stuff. Great body.

MR_KHALEDBADRY avatar

nice work

RIANNA avatar
RIANNA 8 Dec.

interesting

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13/34
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In this article I want to share my LIVE trade on EURAUD with profit +288 pips. Also I want to explain few important elements of trading which were applied in this trade. 1- Trading plan 2- Money management 3- How to set Entry, Take Profit, Stop Loss 4- Psychology of trading in opened position 1- Trading plan Before you open some trade, you need to know what type of trade it is. Intraday or Long term part time? What I am searching for? As you can see I was searching on daily chart of EURAUD currency pair. My trading plan was waiting for retest of support. On left side are last retests in orange color. We had nice full breakout, price should went down. In this time I was waiting for down move, but in uptrend I am not Sell any position. It is my rule. 2 – Money management My money management told me that I could risk per trade 1 or 2% of my account. For somebody it is not enough, but for me it is ok. I need not one big trade because forex is about it how many good trades are you able to have. 3 – How to set Entry, Take Profit, Stop loss In next pictures you can see logical levels where to set your orders. Entry is based on lower timeframe, where is retest of daily support l…
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NerinaMimica avatar

Great article!

David_ avatar
David_ 28 Aug.

Thank you

Alex_N avatar
Alex_N 30 Aug.

Interesting to read

David_ avatar
David_ 30 Aug.

Thanks, I have more of similar trades. Maybe in new articles :-)

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14/48
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I reveal the secret of this live trade using
price action “Pinbar” strategy. Most of traders have heard about Price action
trading using what is commonly called: “Pinbar”, but only few people know how,
when and where to trade this strategy.
Settings of
this live “Pinbar“ trade on 15min:
Instrument: Usdchf
Timeframe: 15min
Open time:
19.06.2012 06:47:03
Close time:
19.06.2012 07:02:24
Duration: 15min 21s
Entry price:
0.95348
SL: 0.95475
TP:  0.95261
Profit: 9 pips
How to
recognize a good “Pinbar“
3 major criterions are to be taken on account
for the recognition of a good “Pinbar”:
1.      
The
height
The ratio of the body’s height and the tail’s
length of the candle or bar chart have to be compared to his height.
For a good “Pinbar” setup the body of the
candle or bar chart has to be in the 1/3 part of the whole candle or bar chart.
When the candle or bar chart exceeds 30% it’s less accurate. Thus, the smallest the body is and the longest the
tail the best is the “Pinbar”.
2.      
The
color:
It shows market sentiment when the session
ends. At the resistance area, like in the example, red is the best color.
Because bears have pushed the price below the opening price of this session…
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Maryk avatar
Maryk 27 June

good work

Lordy_zita avatar
Lordy_zita 29 June

Thanks Maryk for commenting.

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39/67
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Why is it that so many traders are successful with their demo account but are consistent failures with their live account? The answer is that even though market is the same and their tools are the same, their psychological state is different. 
As a qualified Psychotherapist now in the FX market, I have spent time looking into the psychological aspects of trading and how traders react differently in the real world.
 The steps to successful trading are:
1        Learn how to manage data, use graphs and risk management.
2        Understand the fundamentals and technicals.
3        Identify a trading strategy that provides a consistent profit.
4        Apply the strategy consistently in a demo account.
5        Apply the strategy consistently in a live account. 
Once a trader has a strategy that works, he must practice it enough times that he commits the strategy to his unconscious mind. It is like learning to drive a car, after a while, people drive a car without thinking about it. Using a trading strategy must be like that; a trader should use the same winning strategy over and over with the minimum conscious intervention.
Where it most frequently goes wrong is in the transition from…
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RobertBric avatar

Some psychological problems stem from bad preparation but some are really deep and come with upbringing. I am looking forward to the next article where you will address solutions to the highlighted problems. Anyone who has ever trade a live account knows how much these problems can hit you. Traders who trade for a living…they need to be really tough.
There isn’t much training around on psychology for trading. Here is a business opportunity for you if you want to pursue it. All the very best.

doctortyby avatar

We cannot trade "emotional free" because we are human, and not robots. :) Fear and Greed are the greatest factors of Trading Psychology but there are many other causes for the "Market Sentiment", the Risk On and Risk Off sentiment for investors and retail traders. This is a great subject, and maybe, just maybe traders are pre-programed to fail and they have to fight with themselves to succeed in this business. Keep it up.+1

scramble avatar
scramble 11 May

i agree in many points, indeed well explained what a trader will encounter in his experience. will be interesting to know your point about possible ideas and possible solutions.
good luck

Mosomoso avatar
Mosomoso 17 May

Hi Gee, you talk about a trader needing to trade a system like he were driving a car (autopilot). I seem incapable of this. I can't get past the excitement of the trade/profit and the crash of the loss. How do you get past this? Secondly, you, and most others, suggest you "need" a strategy. I take a trade when I see one that looks good, there is no particular strategy involved. Is the idea of a strategy just a way of calming the mind in order to trade more succesfully, or is it actually necessary to progress and become a professional trader?

alifari avatar
alifari 19 May

The problem with amateur trader is they know their problems but fail to rectify their mistakes.

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11/53
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Hi traders, I would like to introduce you my trading system which I am trading on daily basis, everything described here is on LIVE trading account and most trades shown here I took - either with profit or lost. I am not native english speaker so be patient with my easy language.Let's start!I have been live trading for nearly 5 years, sometimes trading solely made my living, sometimes not. In the beginning I did all classical mistakes of newbie traders - overtrading, using way too much indicators, doing way too much everything, focusing on news, watching charts all day long (Which actually is among the most important skills u will need in profitable trading. I mean, to develop some sense for charts, price action, what is market doing, what are buyers and sellers doing, but does not necesarilly mean that u will have to sit 10 hours a day by computer). As I developed my trading skills, I understood the importance of understanding price action and more, importance of proper money management and discipline. Trading as I do it now is very simple, lacks indicators, u do not even have to watch news (maybe except those with biggest impact as is NFP).Using candlestick reversals…
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Nicco avatar
Nicco 8 Mar.

I'll try your statement ! +1

SHARKY12 avatar
SHARKY12 10 Mar.

thank you for sharing your stratgie

andrew_d avatar
andrew_d 13 Mar.

thank you for comments, feel free to ask me about details of strategy

Robertczeko avatar

interesting, thanks for sharing your know-how.

marius24 avatar
marius24 22 Mar.

this part i like the most..good analysis

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38/58
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Hello, I just want to show you how to use Dukascopy's wonderful export features to generate rich graphs like the following: 
Hopefully yours will end up looking a little more.. upwards than mine!The first step is to install spreadsheet software. For this article I'll be using OpenOffice's free software though I'm sure you could achieve similar results with a commercial product.Once you have the software installed we need to create a new spreadsheet file. Simply go to My Documents or wherever, right-click and choose New->OpenDocument Spreadsheet. Rename it to whatever you like.The next step is open up your Dukascopy platform and choose to view a 'Portfolio Statement' report: By default it only shows the last 5 days trading but we want our graph to cover all of our history, so change the from date to the start of your account or earlier.Now click Reload and wait until it's finished (this may take a while if you've been trading for a long time).What we're interested in here is the Export button which will create a text file for us. Go ahead and click it. Again this step might take time to complete if you have a lot of data.Choose to open the file with Notepad (or alternatively save th…
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elen avatar
elen 25 Feb.

i like this one

ritesh avatar
ritesh 26 Feb.

both the 1st image and rank chart looks same. curve fitting is a nice technique to make money online selling strategies that worked in past

ritesh avatar
ritesh 26 Feb.

a +1 for the nice article explaining the chart making process.

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