indexdollar: [OpenFX] Re: Pls help!

Jumat, 04 Januari 2008

[OpenFX] Re: Pls help!

--- In OpenFX@yahoogroups.com, "abiolade4real" <abiolade4real@...>
wrote:
>
> I am a newbie in forex. Can anyone pls recomend a trading system
with
> consistent good returns? There are 1001 systems out there but i
need
> to know the most prefered of all. I will highly appreciate ur help.
> Enjoy ur pips!
>

I did NOT write this I took this from a forex forum, when someone
reply to the similar question:

[quote]
here's some advice with all respect and care

This method as this individual showed is posed to fail in the long
run. Many of you have managed to make some pips here and there and
that's good. But Forex, as well as any other markets i.e futures,
stocks, are bound by cycles. The level of participants as well as
trading behavior makes a big impact therefore creates cycles in which
volatility is either expanded or reduced. Moving averages. MACD etc'
are simply guides. But when the cycle changes, ALL historical
indicators hang. If you don't believe me, just go back to Feb 26 thru
27 2007 and tell me what happened with the so-called indicators and
systems.

You must learn to read a chart in a great scale and understand what's
going on at macro levels.

This was a game of following a guy collectively and well for now it's
fine and dandy but when the system fails, as it will, then your whole
world (hopefully not your pocket) will be crushed.

Learn how to read price it's not that difficult. Look at bigger time
frames to help determine what's going on. Then just follow the trend.
It's that simple.

Is as simple as

1) decide where the trend is
2) wait for a pullback on the lower time frame
3) follow the lead - trend

there you have a proven profitable system. As old as the sun.

Amazingly it works all the time. Don't take my word as face value. Go
ahead and see it for yourself.

It's time for you guys, to leave the amateur-lactancy spoon feed
systems and do as professionals do - go with the flow

I've been trading like this for almost 30 profitable years. I know
this method since I was a pit clerk at NYSE back in the 80's . It's
not rocket science. Just a couple of trendlines will be enough
although not necessary.

Recognise that there's trading and there's noise

You want to trade with the noise???good luck

You want to trade seriously?? then you MUST move to a higher time
frame and clear off your charts.

Aren't you confused with so many "systems" here and there??? how many
have you tried so far?? seems like looking inside an empty barrel
with no floor don't you think??

How long you're going to keep following the averages??

If you guys want, I can post some charts and show you some tricks I
have learned thru the years. But I am not gonna baby-sit anyone. The
thing about the markets is that you MUST use your head and don't
depend on anyone else.

Cheers
[/quote]