PMT Forum

PMT Forum's MOST POPULAR Discussion Boards => Forex Trading and Investing => Topic started by: myfxlife on Sep 12, 2012, 04:00 PM

Title: Tips on Winning the GAME of FOREX
Post by: myfxlife on Sep 12, 2012, 04:00 PM
Fellow Forex Traders, share naman natin ang ating thoughts or tips on how to win consistently sa FOREX na alam naman natin in reality na it is an online game.  :coffee:

Tips or thoughts from trading experiences that can benefit all of us traders and give us an extra income (if we win). :cool2:

Share ko lang ang my own thoughts about FOREX!
   1. Forex is unpredictable, so I don't have to be concern how far it will move up or go down, but my concern is how can I benefit from these movements.
   2. Forex movements are tricky, so how to avoid to be tricked and  loose money is by observing the movements
 before we really bet our money.
   3. Forex is exciting in a sense that we can easily make money  :applause: but depressing when we easily loose our money. :'(
Title: Re: Tips on Winning the GAME of FOREX!
Post by: ferrariEverest on Sep 12, 2012, 04:22 PM
based on my experience
1. it IS predictable. kailangan lang na mapag-aralan at masanay.
kailangan mapagmatyag ka. may patterns. pag alam mo ang pattern, pwede mo sundan yun.
2. tricky, oo. lalo na kung bago ka pa lang. normal naman po yun. pag tumagal na, hindi na sya sobrang tricky.
3. oo, pwede kumita at matalo. don't be too excited. focus on trading well.

best tips, sa mga nag uumpisa pa lang:
wag maging agresibo
use low leverage
trade small position size
trade only yung EXTRA money nyo. wag yung perang pang tuition, pang check up, etc. wag gumamit ng perang inutang.
start small. $1 to $100.
respect the market.
mag aral at mag practice
magtrabaho/employment habang nag-te-trade. wag mag quit agad sa trabaho
if trading is your passion, study hard and do NOT quit.

sana wala ako nakalimutan :D
Title: Re: Tips on Winning the GAME of FOREX!
Post by: Lightwind_99 on Sep 12, 2012, 05:18 PM
Ferrari bigay ka naman ng tips o strategy makakuha ng chicks...e este Pips :D
Title: Re: Tips on Winning the GAME of FOREX!
Post by: myfxlife on Sep 12, 2012, 05:19 PM
Sir FE, I agree it is predictable but only to a certain extent or in the short-term, you cannot predict it consistently correct but you will encounter also a mistake due to its volatility and trickiness brought about by the market movers, and even if you study it carefully, yes there are patterns but these patterns also break and when these patterns are going to break that is the one which is unpredictable.  :cool:
Title: Re: Tips on Winning the GAME of FOREX
Post by: silent_investor on Oct 09, 2012, 05:30 PM
It is true that technical analysis is not 100% accurate. But I would say that knowing and using it makes one a better trader since he/she would be able to anticipate and identify some patterns. My first tip would be to choose one currency pair and practice on this in your demo account. Only with practice can you increase your chances of identifying the patterns available. Then, when you have gotten a lot of experience, only then should you expand your trades to multiple pairs.
Title: Re: Tips on Winning the GAME of FOREX
Post by: golyat on Oct 09, 2012, 06:20 PM
IMO,Forex trading is also about winning more than you are losing.( Im sure you heard that before :))

 Example:W/L ratio @ 1:3

 Loss=7                     
Risk =50 pips
Gross=-350 pips


Win=3
Reward=+150 pips
Gross=+450 pips

Net= 450-350= +100pips

The question is do you believe in yourself that in every 10 trades you have at least 3 wins?  They said its not just about forex trading, its also about "faith" :)
Title: Re: Tips on Winning the GAME of FOREX
Post by: Synapse on Oct 09, 2012, 07:37 PM
Very well said Boss FE :)
Title: Re: Tips on Winning the GAME of FOREX
Post by: silent_investor on Oct 10, 2012, 01:02 PM
@golyat

Why not make it 3:1 (win:loss) =) That way, you are assured of success.

I also believe that it is possible to target 3 wins in every 10, but the gains should be big compared to the losses. This is easier said than done. I read in an article that the most common mistake of forex investors is cutting their profits early while extending their losses too much, hoping that the price will go their way soon.
Title: Re: Tips on Winning the GAME of FOREX
Post by: bajoyjoy on Oct 10, 2012, 05:32 PM
firstly, are you guys comfortable calling forex a "game"? is it really? sa tagalog kasi, it means, "laro".

secondly... ayyy, wala na palang second... :hihi:



Title: Re: Tips on Winning the GAME of FOREX
Post by: EuroatYenpo on Oct 10, 2012, 05:52 PM
How can you win if you treat it or call it a game?,...
You must treat and think of it as a business in order for you to belong to the 5%,.... 

Every trade/entry you make must have a plan and stick with the plan.
Follow and believe in your system if you are using one.

cheers,...  :D
Title: Re: Tips on Winning the GAME of FOREX
Post by: silent_investor on Oct 11, 2012, 05:48 PM
I personally see forex as a business because that is how I view the money that I put on the line. Maybe this is also the reason why casinos don't have any attraction to me.

However, I've met people who do treat forex as a "game". For some of them, it caused their downfall. But for others, they seemed to flourish. So I guess this is a case of whatever floats your boat. Maybe what they can do is think this as some kind of game which requires careful thinking and strategizing, like most team games and cerebral games (e.g. chess). This is better than looking at it as like some children's games which are based purely on luck rather than careful planning.
Title: Re: Tips on Winning the GAME of FOREX
Post by: SAGAD on Oct 17, 2012, 02:46 PM
Forex as a game or business....just different sides of the same coin... :hihi:

Forex can be predicted or not....i have given up trying to predict where the price will go...

Some fundamental "truths" that i adhere to when trading or when putting up a new strategy...

1) The future is unknown.  C'mon, can u really predict where the price will be tomorrow.  But then...read      no.2

2) Continuation is more likely than change...continuation of no.1...if i were to choose between going long or short on a pair which is on an uptrend, i would choose to go long as the probability of it continuing is higher than reversing...

3) Price fluctuates...price don't move in a straight line...they wiggle and shake (hint onplacing stops and targets)
Title: Re: Tips on Winning the GAME of FOREX
Post by: ect1 on Nov 05, 2012, 07:26 AM
bat pa ganun madalas yung nasa calendar or news d naman umaayon sa takbo ng market hehe, pero yung mga employement something tsaka bank rate umaayon pa :D
Title: Re: Tips on Winning the GAME of FOREX
Post by: leonine_zafiro on Nov 05, 2012, 09:35 AM
DISCIPLINE! :)
Title: Re: Tips on Winning the GAME of FOREX
Post by: Synapse on Nov 10, 2012, 01:13 AM
Discipline and Patience.
Title: Re: Tips on Winning the GAME of FOREX
Post by: spa_acumassage on Nov 17, 2012, 11:54 AM
In Live Acct., if you do not know whether the Chart is going Up or Down, u can always sandwich it.

Which means you can place a Limit order on top & at the same time put a Limit order below it. And DON'T FORGET to PUT STOPS. So either way your going to catch those breakouts.

But in doing this always use ENTRY ORDER and NOT ...i say again ...NOT MARKET ORDER.

There is not much room for error in Live Acct not unlike Demo Acct. You have to be very very careful specially when your Balance is limited due to financial constraint. Because the result can either be earning hundreds of dollars or loosing thousands of dollars in just a few minutes of trading.

The Demo Acct will help you a lot to gain experience and confidence in using the trading software. If you did well in Demo, then thats good..... but do not be over confident when your already trading the Live Acct.

I hope this helps.
Title: Re: Tips on Winning the GAME of FOREX
Post by: JonathanLouReyes on Nov 21, 2012, 03:34 PM
Risk Management:

1. Never risk more than 2% of your account
2. Always go with the trend
3. Stay away from technical analysis during fundamental events
4. ALWAYS PUT A STOP-LOSS

I hope these will help you guys in your trades!
Title: Re: Tips on Winning the GAME of FOREX
Post by: myfxlife on Dec 01, 2012, 08:32 PM
How can you win if you treat it or call it a game?,...
You must treat and think of it as a business in order for you to belong to the 5%,.... 

Every trade/entry you make must have a plan and stick with the plan.
Follow and believe in your system if you are using one.

cheers,...  :D

Whatever you may call it, a game or a business, another good tip to win or to profit is to follow the rules!
 :cool2:
Game has rules
Business has system plans and procedures
If you follow them, you're on your way to your success!!! :rakenrol:
Title: Re: Tips on Winning the GAME of FOREX
Post by: ForexBoy on Dec 02, 2012, 11:10 AM
^^
As for me, it is not just following a set of rules. It is all about logic and analytic thinking. Of course I do have plans and rules that needs to be followed but I had to break some of these rules due to logic thinking and analysis.

If simply and strictly following a set of rules makes you a successful trader then the use of EA or trading robot would be profitable but according to live test results that undergone years of testing, they are proven to fail at some point.
Title: Re: Tips on Winning the GAME of FOREX
Post by: David on Dec 17, 2012, 04:12 PM
For me it's discipline and of course diligence!
Title: Re: Tips on Winning the GAME of FOREX
Post by: vantol on Jan 03, 2013, 09:13 PM
i started trading forex a month ago...iforex...i started with the demo account..then after a week, i traded with real account simultaneously, at first i lost around 30 USD but after a day i gain again for 150..then lost all of it the next day...i lost my 100 usd in just 3 days...but its my fault, i did not put a stop loss on my account....but its a great experience....
Title: Re: Tips on Winning the GAME of FOREX
Post by: DPT96Strategy on Jan 06, 2013, 11:06 AM
Ang patience at discipline ay napaka importante sa forex trading and you also need a good trading system. My forex trading system are a combination of EA / forex robot, money management, risk reduction management strategy and a good trading plan.
Title: Re: Tips on Winning the GAME of FOREX
Post by: Prospera on Jan 06, 2013, 10:11 PM
^Hi, DPT.

It seems your EA is doing real well and that's good news, of course.

 I'm just wondering: isn't it time you level up and fund your Instaforex account with a serious amount of money instead of trading micro-lots? Would that not make more sense, given the apparent profitability of your automated system?








Title: Re: Tips on Winning the GAME of FOREX
Post by: bloomerman on Jan 06, 2013, 10:18 PM
You should also allot enough time for your forex transaction. Just what happened to me, buti na lang hindi pa masyadong lost nung nabigyan ko ng time... Buti na lang nakabawi bago ako mag-withdraw ng lahat ng investment ko dahil medyo hectic na ang schedule at may ibang bagay akong dapat bigyan ng oras kaya I have to give up Forex, anytime naman kasi pwede ka bumalik... I am using OANDA by the way...
Title: Re: Tips on Winning the GAME of FOREX
Post by: Ping on Jan 06, 2013, 10:23 PM
HI Madam Prospera,

Kumusta na?  Let's meet up again, para update nyo kami ng forex strategies nyo.


Happy new year!
Title: Re: Tips on Winning the GAME of FOREX
Post by: DPT96Strategy on Jan 08, 2013, 12:52 PM
^Hi, DPT.

It seems your EA is doing real well and that's good news, of course.

 I'm just wondering: isn't it time you level up and fund your Instaforex account with a serious amount of money instead of trading micro-lots? Would that not make more sense, given the apparent profitability of your automated system?










Actually, I'm planning to start with $500 muna trading 4 accounts, these includes the 2 bonus accounts. Apply ko yong compounding by withdrawing the profit regularly then reinvest and request for 30% bonus para mabilis ang paglaki ng capital.
Title: Re: Tips on Winning the GAME of FOREX
Post by: happyearth on Jan 12, 2013, 05:38 PM
I guess choosing the right forex broker should also be added to these tips. No matter how good you are in forex trading, you can lose all your money if your broker is not honest or good. i heard yun iba scam while yung iba naman madaya.

Papost na rin ng forex brokers na gamit nyo or nagamit nyo na, which you think eh honest and di scam. Thanks!
Title: Re: Tips on Winning the GAME of FOREX
Post by: Ping on Feb 24, 2013, 02:17 PM
So far, I have been using INSTAFOREX, FXCM, OANDA.

No problem naman sa deposit/withdrawal.  You just have to follow their instructions.


 :hello:
Title: Re: Tips on Winning the GAME of FOREX
Post by: batangpromdi_v2 on Mar 02, 2013, 09:40 AM
- use low leverage as possible
- master one entry strategy/exit strategy at a time, if you don't see an entry, don't trade
- always put a stop before submitting an order, long/short
- if not adept with fundamentals, just check the release date and time, and don't trade 30 minutes before and after such. a good place to check is the forexfactory.com calendar.
- trade equal lot size in all time frame, especially for noobs. don't increase lot size just because your winning too much. my criteria is to triple the account first, before increasing lot size. just a guide.
- know how to read price action. big players control the market, they are banks, some institutions, you'll spot them easily when there is heavy order flow, going long/short. ride with them, but this takes practice.

time to trade.

i usually use the asian session as basis for my trade on the london and new york, but i mostly just trade when both london and new york is open. that's 9pm - 1am. well, i do that if want to scalp.

i dont use indicators. just price chart and support/resistance (just me)

and if you can open an ecn account, do so.



Title: Re: Tips on Winning the GAME of FOREX
Post by: tankbeta on Apr 04, 2013, 12:36 PM
GBPCHF h1
losing trade :)

(https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-snc7/483951_10200690801133004_178270290_n.jpg)

"Take Risks: If you win, you will be happy; if you lose, you will be wise"

This quote (unknown author) is really about the true value of failure.

Most people are paralyzed by a fear of failure and as a result rarely take any action.

That’s fine if you’re happy with life and it’s just the way you want it. But if you want to make changes, you need to take risks and push yourself to achieve more and to be better.

If you’re brave enough to try, you need to know that sometimes it won’t work out as you planned. Sometimes you’ll fall flat on your face – maybe repeatedly!

How far you get in life depends how you deal with the failures. If you treat them as a learning experience and adapt your approach, the failures are often more valuable than the successes.

Be brave. Take risks. Whatever the outcome, you can’t lose!
(https://fbcdn-sphotos-a-a.akamaihd.net/hphotos-ak-ash3/20995_10200690813573315_239025133_n.jpg)

Happy Trading!
Title: Re: Tips on Winning the GAME of FOREX
Post by: Prospera on Apr 04, 2013, 02:00 PM
Good share, tank! A refreshing change from all the forex-hype we see out there.

Care to dissect that losing trade above? What went wrong there?
I'm sure we can all learn a thing or two from it.

TIA.

 

Title: Re: Tips on Winning the GAME of FOREX
Post by: tankbeta on Apr 04, 2013, 03:47 PM
Good share, tank! A refreshing change from all the forex-hype we see out there.

Care to dissect that losing trade above? What went wrong there?
I'm sure we can all learn a thing or two from it.

TIA.


(https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-snc7/483951_10200690801133004_178270290_n.jpg)
 a strong resistance level formed from march 14 to 20 and i was expecting for a bounce last april 2  at 1.43195, its because of the previous resistance level is now a valid support level (when resistance becomes support). first bounce was a success but the second retest was bad. price breaks downward continuing the bearish move of the market. anyway  im still hoping price might bounce somewhere between the my entry point and SL. so i just let my set and forget strategy do the work.

"Take Risks: If you win, you will be happy; if you lose, you will be wise"

i will be better next time :D

thanks

Title: Re: Tips on Winning the GAME of FOREX
Post by: John605 on Apr 16, 2013, 09:35 AM
How can you win if you treat it or call it a game?,...
You must treat and think of it as a business in order for you to belong to the 5%,....  (http://xin70.info/17.jpg)(http://xin70.info/18.jpg)(http://xin70.info/19.jpg)(http://xin70.info/20.jpg)
Title: Re: Tips on Winning the GAME of FOREX
Post by: ferrariEverest on Apr 16, 2013, 11:00 AM
a strong resistance level formed from march 14 to 20 and i was expecting for a bounce last april 2  at 1.43195, its because of the previous resistance level is now a valid support level (when resistance becomes support).
set and forget has pros and cons.
often the wind changes direction, so sometimes we must adapt with the direction change. sometimes we have to be dynamic with our plans and exits.

nevertheless, we can focus dun sa S/R. i checked that pair's chart.
i'm interested to know, bakit nyo po considered strong Resistance yung 1.4320 area? it was not really a clean R before and after Mar.14-20 base po dun sa chart.

lahat po ba ng trades nyo ay set and forget?

personally, i think the entry was valid. tingin ko wala naman problema yang loss na yan sa inyo, kasi mataas naman yata strike rate nyo :D

Maraming salamat Sir
Title: Re: Tips on Winning the GAME of FOREX
Post by: ferrariEverest on Apr 16, 2013, 11:02 AM
How can you win if you treat it or call it a game?,...
You must treat and think of it as a business in order for you to belong to the 5%
it's just a function of perspective.
game or business, as long a you treat it seriously, ok lang yun :D
Title: Re: Tips on Winning the GAME of FOREX
Post by: freedompinoy on Apr 16, 2013, 12:06 PM
In my personal opinion , to win in the game of forex, we must learn to continually educate ourselves.
Title: Re: Tips on Winning the GAME of FOREX
Post by: tankbeta on Apr 16, 2013, 01:22 PM
set and forget has pros and cons.
often the wind changes direction, so sometimes we must adapt with the direction change. sometimes we have to be dynamic with our plans and exits.

nevertheless, we can focus dun sa S/R. i checked that pair's chart.
i'm interested to know, bakit nyo po considered strong Resistance yung 1.4320 area? it was not really a clean R before and after Mar.14-20 base po dun sa chart.

lahat po ba ng trades nyo ay set and forget?

personally, i think the entry was valid. tingin ko wala naman problema yang loss na yan sa inyo, kasi mataas naman yata strike rate nyo :D

Maraming salamat Sir

i'm interested to know, bakit nyo po considered strong Resistance yung 1.4320 area?

sorry. it should be a valid support...

nasa isip ko kasi yung when resistance becomes support level  :D medyo nalito pala kayo teka edit ko

trades nyo ay set and forget?
yes. dapat talaga set and forget para hindi sayang sa time and sa energy.... i just let my strategy do its work..
Title: Re: Tips on Winning the GAME of FOREX
Post by: Lightwind_99 on Apr 16, 2013, 02:04 PM
there's one tip i'd like to know if anybody has a good idea when to enter the market with the perfect entry. For example some signals are generated telling us the market is going bearish, however it takes some time and conditions doing first minor reversal before it dives down. As far as my observation goes the only way to assure a good entry are breakouts. but if somebody has an insight when the smart money comes in and trends the market kindly do share your idea how to identify it. thanks.
Title: Re: Tips on Winning the GAME of FOREX
Post by: ferrariEverest on Apr 16, 2013, 02:39 PM
Boss Lightwind,
ano definition mo ng perfect entry?

depende rin kasi kung pano ang trading style mo (scalp, swing, etc.) at depende sa timing ng entry mo. minsan maaga entry mo, natural mejo maghihintay ka ng oras/matagal. pag sakto entry mo, seconds or minuto lang ang hihintayin mo bago tumalon o bumagsak ang price.

baligtad yung idea mo sa smart money. nauuna sila tumaya, hindi sila nahuhuli. tayo ang nahuhuli :D  pag nag break na ang price, kadalasan tapos na sila pumwesto.

tapos, kung gusto mo perfect entry, dapat nakatutok ka sa chart para ma-timing-an mo talaga yan. mahirap ma-timing-an ang perfect entry/trade kung hindi nakamonitor sa charts. :D

ok na assurance ang breakout. pero minsan ingat ka rin baka pekeng breakout pala yun :D
Title: Re: Tips on Winning the GAME of FOREX
Post by: Lightwind_99 on Apr 16, 2013, 03:46 PM
boss ferrari, perfect entry yung lumipas na ang mga reversals. pang long term trend. karaniwan kasi napapaaga ako mag trade tapos magrereverse pabalik then after mga maraming bars saka lang magtretrend. Ok sana kung malalaman natin na magrereversal muna and sa next cycle sya magtutuloy mag trend.
Title: Re: Tips on Winning the GAME of FOREX
Post by: Ping on Apr 17, 2013, 07:28 PM
Kaso, usually, you can see a PERFECT ENTRY only in hindsight? 

=(


Learning is a never ending journey, so they say ....
Title: Re: Tips on Winning the GAME of FOREX
Post by: tankbeta on Apr 27, 2013, 11:06 AM
We are all good traders.

we all know how to apply our various trading methods but 99% of us traders lack the discipline to stay in this business. Only 1%(NOT EVEN 5%) will make it in the long run trading Fx. emotions are number one killer factor.

the reason is simply because trading fx successfully revolves around discipline
and aides from using proper money management which we already know and there should be a specific entry and exit rule that must be obeyed.

And if you are among the 1% who have the discipline to control your emotions and follow your trading plan then i say a big congrats youre on your way to the promise land in this business

nothing is complicated in Fx and nothing is simple.
it all depends on our approach.

"A word is enough for the wise"

goodluck! :)

(https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-frc1/s480x480/554595_10200820426973569_752549090_n.jpg)
Title: Re: Tips on Winning the GAME of FOREX
Post by: Rojuns123 on Apr 28, 2013, 04:47 AM
i've been looking for a forex forum and somehow "law of attraction" helped me find this one. I've been with http://www.fxprimus.com/en/ for a month already thru demo account. They're nice naman.But still, I can't go ahead and set-up a live account kasi I dnt think, I am ready yet.  I was about to sign up na sana with either xforex and iforex kasi pinoy ung customer service nila. However, I was fed up with them calling me everyday..eh I work at night.  Hindi me makatulog just to answer their calls. haha. I have a question po. Those who are in live accounts na..is there a way you can share with me the forex institutions that you are with? I just need to weigh my options.

Your help is highly appreciated.
Title: Re: Tips on Winning the GAME of FOREX
Post by: Ping on Apr 28, 2013, 08:35 AM
I am using INSTAFOREX, and FXOPEN.

Title: Re: Tips on Winning the GAME of FOREX
Post by: tankbeta on Apr 28, 2013, 09:32 AM
i've been looking for a forex forum and somehow "law of attraction" helped me find this one. I've been with http://www.fxprimus.com/en/ for a month already thru demo account. They're nice naman.But still, I can't go ahead and set-up a live account kasi I dnt think, I am ready yet.  I was about to sign up na sana with either xforex and iforex kasi pinoy ung customer service nila. However, I was fed up with them calling me everyday..eh I work at night.  Hindi me makatulog just to answer their calls. haha. I have a question po. Those who are in live accounts na..is there a way you can share with me the forex institutions that you are with? I just need to weigh my options.

Your help is highly appreciated.

may mga nabasa po ako na hindi magandang review sa iforex. search it forexpeacearmy.com malalaman nyo po.

if gusto nyo po filipino customer service i can recommend Ironfx http://bit.ly/Yd70vu
Title: Re: Tips on Winning the GAME of FOREX
Post by: rescyth on Jun 12, 2013, 10:05 AM
Best tip is

Always follow the trend and when you have a magic fairy, front running :)
Title: Re: Tips on Winning the GAME of FOREX
Post by: divergence on Jun 12, 2013, 05:39 PM
keep a trading journal

kahit na losing trade or winning trade, para meron kang mapagaaralan at maimprove mo pa ang sarili mo.
Title: Re: Tips on Winning the GAME of FOREX
Post by: batangpromdi_v2 on Jun 22, 2013, 10:38 AM
Fellow Forex Traders, share naman natin ang ating thoughts or tips on how to win consistently sa FOREX na alam naman natin in reality na it is an online game.  :coffee:

Tips or thoughts from trading experiences that can benefit all of us traders and give us an extra income (if we win). :cool2:

Share ko lang ang my own thoughts about FOREX!
   1. Forex is unpredictable, so I don't have to be concern how far it will move up or go down, but my concern is how can I benefit from these movements.
   2. Forex movements are tricky, so how to avoid to be tricked and  loose money is by observing the movements
 before we really bet our money.
   3. Forex is exciting in a sense that we can easily make money  :applause: but depressing when we easily loose our money. :'(

tips on winning >>>> BE AWARE THAT THIS IS NOT AN ONLINE GAME LIKE YOU PERCEIVED IT TO BE

it's a business, a life changing one when mastered. sa online game, you can just hack and slash at random without even being emotional about it. forex is not a game. get that crap thinking off your brain.

if you want to win, or the better word, survived in this industry, treat it like a business. master discipline and adhere to your plan.

Title: Re: Tips on Winning the GAME of FOREX
Post by: myfxlife on Jun 23, 2013, 04:02 PM
Whether you perceived FOREX as a “GAME” or as a “BUSINESS”, it boils down to a single common FACT i.e.  you are betting your money to a certain currency pair anticipating that it might go up or down to earn profit. The bottom line here is that you need to have enough knowledge before you bet or invest your money in FOREX.  :cool2:  :rakenrol: :thankyou:
Title: Re: Tips on Winning the GAME of FOREX
Post by: batangpromdi_v2 on Jun 24, 2013, 05:54 AM
wow... nahaluan na ngayon ng betting... i think you don't really get my point.

it's important that you have a solid mindset that you are handling a business. yes, everything revolves around speculation. what business doesn't? even when you were in college, you were already speculating that getting a good degree will help with your future. a guy who establishes a food business is also speculating that he will have loyal customers, if not, he's business will be profitable. when you first fell in love, you were also speculating that she/he is the one...

i do not perceived forex as a game, ikaw nagsabi nyan. online game pa. yung mga naglalaro ba ng online game, may journal sila? can they be impulsive whenever they feel so? im sure yes.. caused you don't want to get bored. is this the mindset we want to promote in the forex community and to newbies? i dont think so.

maybe to you it won't matter what you think forex is, but it will weigh in when you begin seeing drawdown. nah, it's just a game. im not trading forex for $5 daily income. if yan sasabihin ko sa mga existing clients ko, or present such idea sa mga prospects ko, i don't think that business will be good.

i don't blame you thinking that way. your in a phase, and soon, you will get my point. hope that time finds you with your capital still intact.

Title: Re: Tips on Winning the GAME of FOREX
Post by: myfxlife on Jun 30, 2013, 04:53 PM
"Wow!!!"..., so you have existing clients pala and prospective clients to be??? Are you a licensed Forex Broker? Where is your office? Is your platform MT4? Do you offer free signals? Why are you not encouraging us the newbies and forex communities here to open an account with you so we can trade forex?
Well if you will tell me I still don’t get your “POINT” maybe you’re not really in the business of FOREX. :cool2:
Title: Re: Tips on Winning the GAME of FOREX
Post by: batangpromdi_v2 on Jun 30, 2013, 05:17 PM
@myfxlife: i am not a broker. i'm just a trader and i trade other people's money as well, most of them my close friends.

i don't offer free signals, my office is in my house. i don't offer free signals due to the fact that i'm not a perfect trader. nobody is. and i don't encourage newbies to be dependent on signals without understanding how it was generated? and i am against trading someone else's analysis. the accounts i handle are from people who have full time job and has no time to trade, but they do know how to trade. we share ideas. we learn from one another. i dont have an office cause i cant afford one, and even if i could, i would choose to remain below the radar.

i'm not going to argue with you. you even mention "is my platform mt4?" that's really funny. as if you're talking to someone you really know well.

you can think what you want to think. i do not encourage people to have their account manage by someone else. i make sure that my clients know the business and it's risk first. if not, i will refuse to handle their accounts. look pal, i don't have to prove anything to you.

either you think forex is a business or just a game, it's up to you. you will just realize what i'm saying when your deeply into this type of endeavour.

all i can say is that forex pays for everything. my expenses, family vacation, bills, etc. this is also the reason why i respect this industry.

peace out.

Title: Re: Tips on Winning the GAME of FOREX
Post by: bloomerman on Jun 30, 2013, 06:48 PM
Just follow your instinct...
Title: Re: Tips on Winning the GAME of FOREX
Post by: myfxlife on Jun 30, 2013, 07:51 PM
@ batangpromdi_v2, I don’t intend to argue with you either, or even to know who you really are. This is a forum and members can freely interact and post their ideas or thoughts on the topics they are interested to discuss.

You can even start a new topic about forex with the subject

“Tips on How to Profit in the Business of Forex” just to satisfy your point of view about FOREX.

And I will guarantee you that I will read and follow that topic to pick-up ideas on how I can profit from FOREX.
 :hello:
Title: Re: Tips on Winning the GAME of FOREX
Post by: batangpromdi_v2 on Jul 01, 2013, 06:20 AM
@ batangpromdi_v2, I don’t intend to argue with you either, or even to know who you really are. This is a forum and members can freely interact and post their ideas or thoughts on the topics they are interested to discuss.

You can even start a new topic about forex with the subject

“Tips on How to Profit in the Business of Forex” just to satisfy your point of view about FOREX.

And I will guarantee you that I will read and follow that topic to pick-up ideas on how I can profit from FOREX.
 :hello:

You started a thread, i posted a comment. Simple. good suggestion, if your not even aware of forum rules. like rule #2. i posted a comment and that's my view. I don't need to start another thread to make that clear.

Title: Re: Tips on Winning the GAME of FOREX
Post by: batangpromdi_v2 on Jul 01, 2013, 07:58 AM
back to topic since boring market ngayon..

another tip, and somewhat close to holy grail: be patient and let the market come to you.

market does what it wants. however, traders have to visualize what they want to see in the market for them to make a trade. say the price gets near resistance area, what do you want to see happening on that area for you to go long? or short? or just stay away?

i trade daily charts, sometimes weekly. just imagine the waiting time. traders fail because they are too impatient to let their ideas work out. they've had everything well planned, but an abrupt move will have them chasing the market. they know its wrong, but they keep repeating the same mistakes, and keeps on regretting at the end.
Title: Re: Tips on Winning the GAME of FOREX
Post by: DavidApol on Sep 16, 2013, 09:23 AM
Respect the market in the same way that a sailor respects the sea. Like an ocean, think of the market as a vast force of nature that can be navigated but cannot be dominated. -Ed Ponsi
Title: Re: Tips on Winning the GAME of FOREX
Post by: sysonpyh on Sep 16, 2013, 11:03 AM
be seryus muna sa business na to. I believe that u cant appreciate fx trade not until you become serious about it. 1nce you know the basic, then focus on your high probability set-up. After all we are all trading to make money but before you can make some, understand that you will loose some. d2 yung iba nag qkwit na.
Title: Re: Tips on Winning the GAME of FOREX
Post by: PinoyOptions on Dec 30, 2013, 10:26 PM
4 bagay lang natutunan ko sa forex bago ako nagshift into Binary Option.

1. Fundamental Analysis= Make sure alam mo ang current event ng currency pair economic news. Malaking factor ng fundamental analysis ang nakaka apekto sa volatility ng currency. Maraming trader ang natatalo dahil sa masyadong focus sa technical analysis. Kulang sa fundamental.
2. Tecnhnical Analysis= Well madaming way how to interpret market volatility, dipende sa iyo kung anong strategy ang gusto mo.
3. Money Management= not more than 2% ng total capital dapat ang trade size
4. 2 currency pair= atleast dalawang currency lang or 1 lang para ma master mo ang chart pattern ng pair.ex EUR/USD


Title: Re: Tips on Winning the GAME of FOREX
Post by: renzlo on Apr 09, 2014, 06:01 AM
diciplina lang ang kailangan dito
Title: Re: Tips on Winning the GAME of FOREX
Post by: binsyo on Apr 09, 2014, 05:33 PM
I learned that losses are common. Hindi maiiwasan ang losses sa ForEx trading. The only way to win is to profit more and lose less. Limit your losses by studying, studying, studying, and acting what you've studied. After much studying, you will still lose, but hopefully, mas malaki na ang gains.
 :pc:
Title: Re: Tips on Winning the GAME of FOREX
Post by: kjlink on May 13, 2014, 04:42 PM
question lang po. does "trailing stops" work? yung sakin kasi parang hindi. -50pips ung trailing stop ko pero ngaun -200pips na,wala pa rin yung stop loss.
Title: Re: Tips on Winning the GAME of FOREX
Post by: binsyo on May 13, 2014, 07:09 PM
question lang po. does "trailing stops" work? yung sakin kasi parang hindi. -50pips ung trailing stop ko pero ngaun -200pips na,wala pa rin yung stop loss.

Gamitin niyo po ang stop loss and trailing stop at the same time para malaman niyo ang difference. Sa pagkakaalam ko po, may iba kasing broker platforms na pang-lock-in ng profits lang ang trailing stops, so bale hindi siya nagtritrigger sa losses. :rakenrol:
Title: Re: Tips on Winning the GAME of FOREX
Post by: Prospera on May 14, 2014, 09:43 AM
@kjlink: If it's a "dynamic" trailing stop, you should be logged on to your account for it to work. If it's set manually as a stop-loss, on the other hand, it doesn't matter if your computer is on or not--it will still be executed.

That's how I remember it, anyway...
Title: Re: Tips on Winning the GAME of FOREX
Post by: ferrariEverest on May 14, 2014, 12:16 PM
^ You must be referring to a trailing stop within the MT4 platform. In other charting platforms (non-MT4), I believe trailing stops work regardless if the charting application is on or not.
Title: Re: Tips on Winning the GAME of FOREX
Post by: kjlink on May 14, 2014, 02:36 PM
sa XM.com ko po naexperience ung hindi naandar na trailing stop. pero nung nagtry ako sa OANDA, umaandar yung trailing stops nila kahit di ako lagi nka log on.
Title: Re: Tips on Winning the GAME of FOREX
Post by: binsyo on Jun 17, 2014, 09:24 PM
We're sometimes expecting to be able to take advantage of opportunities that our schedule really doesn't allow for, our mental capacity really doesn't allow for, and our trading capital really doesn't really allow for.

The fear of "missing out" on market action is what gets traders in trouble because we start to make trades out of a desire to make money, instead of reasonable analysis.

-Rob Booker

...a quote I got from reading Millionaire Traders by: Kathy Lien and Boris Schlossberg
Title: Re: Tips on Winning the GAME of FOREX
Post by: miakim287 on Jun 20, 2014, 11:46 AM
hi newbie lang po anu po ba ang forex trading? panu po ba gawin yn.
Title: Re: Tips on Winning the GAME of FOREX
Post by: binsyo on Jun 21, 2014, 03:15 PM
hi newbie lang po anu po ba ang forex trading? panu po ba gawin yn.

...start with babypips.com/school (http://babypips.com/school)... Maraming nagsisimula diyan... para ka na rin pumasok sa isang eskwelahan na all about Forex ang subjects... don't worry walang tuition fee dyan, it's completely free!!!  :D
Title: Re: Tips on Winning the GAME of FOREX
Post by: fxtayo on Aug 01, 2014, 12:40 AM
oo gumagana yan kung ang trade mo is may profit na. bali function nyan literal sa name nya  :yoohoo: halimbawa may floating profit kana na 60 pips at yung trail stop mo 50 pips may lockin profit kana na 10 pips. pag aakyat pa profits mo aakyat din yung trail stop laging 50 pips away sa current high pero kung bumaba na yung price steady lang trail stop mo kung saan nka lockin at kung mag adverse na tlga at ma hit yung trail stop at least hindi ka luhaan kasi may nka lock-in profits na.  :applause:

question lang po. does "trailing stops" work? yung sakin kasi parang hindi. -50pips ung trailing stop ko pero ngaun -200pips na,wala pa rin yung stop loss.
Title: Re: Tips on Winning the GAME of FOREX
Post by: combat212003 on Sep 19, 2014, 03:00 PM
1) Who said that you need to put "STOP LOSS" when you enter a position??? ang libro nabasa niyo?
- Can you show me an account with atleast six months span that consistently making money by following this strategy.
Do you think big banks and big institution are putting STOP LOSS in their position?

2) Who said that charting, pattern recognition and indicators are the tools to success?? Again the book??Again can anybody show me a successful account using this strategy?
- All that charting, pattern recognition and indicators could temporary make you win if hit the jackpot!! but it is not consistent and in the long run you will loss since the odds is less than 50% .Why? because every time you enter the position you are paying the spread. Also you are going to pay the interest overnight swap and roll over if you are mid-term and long term trader.

3) Who is telling that trading is all about money management??
- Applying money management will become effective only if you had already a profitable system. But if you don't have a profitable system even you have a good money management you will LOSS!!! The difference is that you loss slowly because by applying money management you are going to bet small but you STILL LOSS!!

"Of course now you are going to ask me, what am I using??"
- I think you already know the answer because I read this in one of the subject in this forum... "There is no trader that will disclosed the strategy that is profitable!!" Sorry to tell you that. If somebody disclosed, it's a crap!

 So you had to ask me again, if I am not going to disclose, what is my purpose??
- Well I do want you guys to waste your time on those items I had mentioned above.

Lastly, you are going to ask me, where is my proof?? Well below is myfxbook account and fxstat

http://www.myfxbook.com/members/combat212003/combat212003/818180
http://www.fxstat.com/LN.v
 
Title: Re: Tips on Winning the GAME of FOREX
Post by: Dogberto on Sep 22, 2014, 03:52 PM
@combat212003:

1. All forex books will tell you to use Stop Loss... it's placed there to help you control the risk in case the trade goes against you... one can also use it to "lock in" profits once the trade goes positive.

2.  Forex is a game of speculation, but it is not gambling... traders who know how to correctly identify and apply the right charts, patterns, and indicators will be able to boost the odds in their favor to more than 50%.

3. Trading is a combination of money management (risk control), strategy (techniques) and state (psychology) - see http://www.fx1academy.com/success_model.php
Title: Re: Tips on Winning the GAME of FOREX
Post by: ferrariEverest on Sep 23, 2014, 04:47 PM
1) Who said
Puro sales pitch.

I am an independent trader... but I am not belong in the 5% but in 1%.
Ang haba ng sales pitch mo. Can you prove na kasali ka sa Top 1%, when IN FACT, there is no comprehensive, verifiable global proof nor statistics? LOL.

Lagi mo kinukumpara mga banks, samantalang hindi ka naman bank. You are way out of their league.

Mahirap pagsamahin ang wrong grammar, kayabangan, at kasinungalingan, pero you have pulled it off quite well.

For the readers, basahin nyo ito at ibang reply namin kay combat bago kayo magbigay ng pera sa kanya or sundin ang signals nya.

Pambihira. Now you're dangling the word "HOLY GRAIL". Pang-attract ng mga noobs? :)

No such thing as the HOLY GRAIL of Forex. Mag-ingat. :) Next thing you know may binebenta na senyo tong si combat212003.
Title: Re: Tips on Winning the GAME of FOREX
Post by: combat212003 on Sep 23, 2014, 05:16 PM
@ fE

Nag-seselos kang... :D :
Dahil yong mga sinasabi mo hindi mo kayang panindigan.. :D

Sa mga reader... magka-alaman naman yan!!!
Title: Re: Tips on Winning the GAME of FOREX
Post by: ferrariEverest on Sep 23, 2014, 05:39 PM
@ fE

Nag-seselos kang... :D :
Dahil yong mga sinasabi mo hindi mo kayang panindigan.. :D

Sa mga reader... magka-alaman naman yan!!!
Oo honey babe cutipie honeybunch pumpkin dalmatian pie, nagseselos ako! So much! :hihi:


Title: Re: Tips on Winning the GAME of FOREX
Post by: combat212003 on Sep 23, 2014, 06:19 PM
Kawawa naman ang bata oh... Umiiyak nasasapawan...  :D
Title: Re: Tips on Winning the GAME of FOREX
Post by: ferrariEverest on Sep 23, 2014, 06:35 PM
Mag-ingat kay combat212003

Hindi nagsisinungaling ang mga numero. Basahin ang paliwanag sa ibaba

Sa mga noobs eto na lang. Kung nalilito kayo sa pinag-uusapan dito eto na lang ang mga numero. Hindi nagsisinungaling.

From his performance page meron dung "Balance" chart. Yun lang tiningnan ko at eto conclusion ko:

1. His balance grew from 11,000 to 23,000 in over a year. That's >365 days. Again, it took him >365 days to grow his account from 11,000 to 23,000.

2. Then it took him 3 days to reduce it down to 19,000.

I'm not saying na hindi maganda yun performance. It's staggeringly impressive. Pero he took a lot of risk to get to that amount.

Again,

>365 to make 12,000 dollars (mahusay)

3 days to lose 4,000 dollars (yikes)


You do the math. Wag po maniwala dun sa floating floating talk na yan at maraming nang perang nawala. He will need another 3 months to get that 4,000 back if he doesn't get screwed by the market again and maintains the same position sizing and syempre maintains the same luck entering the market blindly. However, it will only take a few days to wipe his account. Yan po ang sinasabi naming risky. He might need fresh funds to reduce the risk though and perhaps speed up recovery. But then if you invested in this guy on September 2, you'd be crying after 2 days.

Ingat lang po.
Title: Re: Tips on Winning the GAME of FOREX
Post by: combat212003 on Sep 23, 2014, 07:55 PM
Mag-ingat kayo kay combat baka may ibibinta sa inyo!!! :D

Yellow minded.. cgurado kaba sa nakita mo???? Post ku uli sa baba(mga kababayan paki-tingin link sa baba..)

http://prntscr.com/4pim71

Nakalagay sa column sa itaas..."Actual(including bank account)...hahaha :D ibig sabihin kasama ang reserve sa bangko

ganito

http://prntscr.com/4pio9a

Hindi kasi nag-titingin....!!

3 months to recover?? magkano ang equity ko noong Staturday... di ba 14,888... paki-refresh nga ngayon kung magkano?
 http://www.fxstat.com/LN.v
http://prntscr.com/4pipzz

$16,496!!! so dalawang araw nag-gain ng = $16,496 - $14,888 = $1,608 hahaha

So kung dalawang araw ang movement niya ay $1,606... eh ang 3months ay 72 trading days!! Ano ang magiging movement non??

hahahah...Yellow nawala ang bilib ko sa yong pagiging statistisyan!!

Kaya tama mga kababayan tandaan niyo pagdating ng 3 months kung sino sa amin ang mapapahiya... :D
Title: Re: Tips on Winning the GAME of FOREX
Post by: ferrariEverest on Sep 23, 2014, 08:57 PM
Mag-ingat kayo kay combat baka may ibibinta sa inyo!!! :D

Oo mag ingat talaga dapat sila sa iyo. Post ka ng post ng screenshots, ayaw mo masira tingin nila sa iyo at desperado ka makahanap ng maniniwala sa iyo? The more you post, the more it becomes obvious.
Title: Re: Tips on Winning the GAME of FOREX
Post by: combat212003 on Sep 23, 2014, 09:05 PM
Quote
Oo mag ingat talaga dapat sila sa iyo. Post ka ng post ng screenshots, ayaw mo masira tingin nila sa iyo at desperado ka makahanap ng maniniwala sa iyo? The more you post, the more it becomes obvious.

Hahaha... napahiya kaba!! pini-post mo kasi ng marami akala mo nakakita kana nang butas!!! :D

Title: Re: Tips on Winning the GAME of FOREX
Post by: ferrariEverest on Sep 23, 2014, 09:27 PM
@ fE,
Pagbibigyan kita hindi ako mag post ditto..!!! don lang ako mag-post sa thread ko...
Post mo yan, 4 hours ago lang. Nagutom ka kaagad?  :hihi:

(http://images.rapgenius.com/6dc74b72387587e6088944406116f781.448x556x1.jpg)
Title: Re: Tips on Winning the GAME of FOREX
Post by: combat212003 on Sep 23, 2014, 09:38 PM
 :D :D :D

Parang kang bata.... "mmmm diba sa mo yan kaniana"hahaha

Anong naman ag gusto pabayaan nalang kita.....???

Aayosin mo ang sarili mo..!!!
Title: Re: Tips on Winning the GAME of FOREX
Post by: Dogberto on Sep 24, 2014, 09:18 AM
Trading foreign exchange (Forex) on margin carries a high level of risk and may not be suitable for all investors. The high level of leverage can work against you as well as for you.

Please consider whether trading Forex is appropriate for you in light of your experience, goals as an investor, financial resources and risk appetite.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose.
Title: Philippine Bank Service Fee on Inward Remittance for Third Currency (CAD)
Post by: mendel on Sep 26, 2014, 07:40 AM
Any idea on Bank service charge on Inward Remittance to Philippines?
 Presently working in Canada and thinking of doing wire transfer from Canada to Philippines with the same Currency?
 I have opened Canadian bank account in the Phil. I'm just wondering about the Receiving Bank Fees, is it true that its between 5 to20 % of the total amount?

Any feed back on  Banco De Oro charges?

Please care to reply.

 :thankyou:


Title: Re: Tips on Winning the GAME of FOREX
Post by: batangpromdi_v2 on Oct 08, 2014, 11:42 AM
hello guys, im back.. hehe

tip lang, based sa experience ko. you can grab any unknown strat, be patient, discipline, and you'll make profit. why? wala naman kasi right and wrong way of trading. pero common denominator dyan is trading plan. kahit gano pa ka-complex, or ka-simple yan, if you don't follow it, wala ka mapapala. and to say the least, most traders focus on trading, not money management, which should be a major part of a trade plan.
Title: Re: Tips on Winning the GAME of FOREX
Post by: Robinroo on Feb 21, 2015, 11:20 AM
it can also be a game because you could win or lose sometimes.. that's what makes me excited to trade

but the key thing here is studying the course of the market before you place your positions..

alam nyo naman siguro about Fundamentals...  :D
Title: Re: Tips on Winning the GAME of FOREX
Post by: ACFX on Mar 23, 2015, 10:24 PM
I agree, it is predictable-short term, but nobody knows the market, we make decisions uniquely, because we are the market..What makes good traders great is self-mastery. Good traders don’t necessarily possess better trading styles or secrets, but apply the effective ones more consistently, with less emotions. What makes good traders great is research and better management. Besides being a business, I view trading as an activity, like sports. Successful trading can be improved through practice over time.Maybe the successful trader differs from the unsuccessful one, not because one method is better than the other, but because he has found an effective method that suits his personality and experiences.
Title: Re: Tips on Winning the GAME of FOREX
Post by: magforex on Aug 14, 2015, 06:03 PM
my tip:


 :thankyou:
Title: Re: Tips on Winning the GAME of FOREX
Post by: BatangHamog on Dec 15, 2015, 02:21 AM
FINALLY...i just learned that there are 2 indications when to get in and 3 ways to get out... :idea:

i think im ready to get live.  :rakenrol: :boxing:  :peace:

Title: Re: Tips on Winning the GAME of FOREX
Post by: pipcycler on Dec 27, 2015, 09:38 AM
FINALLY...i just learned that there are 2 indications when to get in and 3 ways to get out... :idea:

i think im ready to get live.  :rakenrol: :boxing:  :peace:

good for you sir, basta backtest nyo lang yan at demo test kung sustainable yung system nyo.  :cool2:
Title: Re: Tips on Winning the GAME of FOREX
Post by: viper0302 on Oct 09, 2017, 07:41 PM
Hello Everyone...

I completely disagree that Forex Trading is a GAME....

I have a business and it is Forex Trading...

I have one account which is now 9 months and has a winning percentage of 100% with a monthly average growth of 7.5%.

Current growth of the account is 120%.

The good thing is I already made 1,500usd on that account just by selling at as a signal.

Visit MQL5 and search for SureProfit002 for you to find out.

Treat forex as a game and you have a chance of failing. Treat it as a business and enjoy the chance of success.

Thanks.
Title: Re: Tips on Winning the GAME of FOREX
Post by: myfxlife on Apr 08, 2018, 04:40 PM
Whatever you want to call or label FOREX either as a game, a business or trading, the truth is, there will always be winners and losers in this industry called FOREX  or foreign exchange. Online Forex trading for me is like an Online game since the resulting actions or outcomes of your trades will either be profit or loss and I've always wanted to have more winning trades than losing trades. At the end of the day, it is not important what you call or label Forex, what really matters is the result of your trades, did you win or lose?

 :thankyou:
Title: Re: Tips on Winning the GAME of FOREX
Post by: Bryan_099 on Apr 13, 2018, 02:41 PM
JustForex is currently running a Forex contest where traders compete to become the top-earner at the end of the two-week contest period. The 3rd, 2nd, and 1st placer will receive $100, $250, $500, respectively.

Register now using this link: https://justforex.com/landing/forex-sprint

Title: Re: Tips on Winning the GAME of FOREX
Post by: Bryan_099 on Apr 23, 2018, 03:54 PM
EXCLUSIVE SPRING SALE OFFER FOR ALL JUSTFOREX CLIENTS.

Say hello to JustForex Spring Sale! From April 20, 2018 till May 06, 2018, you can open ECN Zero accounts with 50% discount. During this period, it is possible to deposit accounts with 250 USD only instead of 500 USD and start trading.

For further details, go to https://justforex.com/landing/ecn-zero-sale
Title: Tips on Winning the GAME of FOREX
Post by: Emilelerne on Oct 14, 2019, 01:39 AM
In my opinion you commit an error. Write to me in PM, we will communicate.