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Forex Junction
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techsys
Master |
20-Feb-2008 19:56
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Hi Wacko111, if you want to be a good FX trader, that what you should do. But if you just want to make money, you can attend one of that courses. But don't expect to gain a lot . Their technique is quite easy. You will be taught to earn about 6 - 20 pips a day. But if you loss, it's quite significant. it can be 30 pips till 40 pips. But after all, accumulated monthly, you still have good profit. |
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tabbykat
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20-Feb-2008 19:42
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Go to the following link and start learning the basic. http://www.pfxglobal.com/index.php?option=com_content&task=view&id=2141&Itemid=345 |
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wacko111
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20-Feb-2008 18:25
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Thanks all for sharing. techsys - Hmmm so much for the negativity of courses. So is it actually better to self-learn from books and online sites? |
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techsys
Master |
20-Feb-2008 16:08
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Hi August, If you subscribe Grace Cheng service, she will give you email base instruction. About software, I have used some software before to predict market movement, but honestly very confusing. There is no auto-pilot system that can give you good return. So you need to learn it by yourself. I will post next articles. You will clearly know how to calculate entry point, exit point and stop loss. This is the essense of FX market. You can click my name and the whole articles I post will explain to you. To be a FX trader, there is no easy way, by using indicators. You need to be detail and really understand the whole element involved in FX market. You don't need to understand, just know it already good. If you want to use only indicators or pattern recognation, you need to be satisfied with 50 - 100 pips / month. Average performance from my calculation is 60-80 pips. About FX broker, since I'm in singapore, I preffers local broker. I'm using SaxoBank. But I have also Interbank FX (US) account which I find it's very convenient. My suggestion, use local broker first, if you already good in FX, you can find another better FX broker. The most important is you have facility to learn and earn money. By the time you will be an expert and can customise your need to increase your trading performance. |
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august
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20-Feb-2008 15:47
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Thanks Mani, I have read the book and do learn from it ; but it is not enough . I wanted some formal training by a human..teaching me the rope. Any of you who has gone to Grace's on line training,.do want an insight of how valuable it is. Do want to learn forex. Thanks, |
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august
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20-Feb-2008 15:41
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Thanks Techsys, Grace teaching is basically on-line right ? Do you know if she provides you with the system/software where it teaches you when to enter /exit based on technical analysis ? Does she recommend any service provider (broker) or does she focus only on getting you up to speed on Forex and then it's up to us to find the broker we trust. Your further education pls. Thanks, |
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Manikamaniho
Senior |
20-Feb-2008 15:39
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techsys
Master |
20-Feb-2008 15:28
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Just a few minutes ago, my friend sent me an sms for FX course. The location is arround chinatown. The cost is arround more and less 4k. Money back guarantee. I don't want to mention what the institution is, but just to inform you guy, if you like to have it, that is the price you need to prepare. Two days course with gurantee period for personal coaching. Another one is arround Lavendar. You need to pay 3.45k for 3 days course. Also money back guarantee. About money back guarantee, you need to prove that their system is not profitable, which I find very hard. Once I tried to complain and went throught detail, they kept avoiding and made unreasonable explanation. Here is the example of the case: on December 2007, I got a lot of lost trades by using theirs. During training session they mentioned if the calculation is match then you can get in. When I told them that, they says, you also need to oversee market at the moment which is never been taught. Another info, the last course I attended also has member get member program with money rewarded. So, you will understand why someone so enthusiastic asking you to join in. If you really want to spend money for FX lessons, I recommends Grace Cheng web site. Btw, I'm not related to Grace Cheng at all. www.gracecheng.com Btw, thanks to Tabbykat. I use almost 70% techniques describe in that webpage. 
Baseerahmed ... you are welcome
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baseerahmed
Master |
20-Feb-2008 14:43
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i am speechless! i dying to shake hands with techsys , tabbykat and 'visionary' cashiertan ! we beginners are indeed very fortunate ! God bless all of u ! |
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light8
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20-Feb-2008 14:04
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Good posting techsys keep it up, I had voted for you. | ||||||||||||
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techsys
Master |
20-Feb-2008 10:07
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Thanks baseerahmed ... ...
About FX academy, I agree with cashiertan. I have attended some academies. From DxxxFX, FXxxxx, CxxxFXTxxxxx. Also been in a lot comersials seminars. They gave technique quite simple. But honestly, can guarantee you a good rate winning ratio. They mentioned the winning rate is 80% .. but when I try to implement, I got 50-50 ratio. When I complain, they blamed it was market. They even asked me to attend additional program, to encounter such problem. See .. they just keep selling thing ... If you have a lot of money and want to spend some for charity .. you can go get some
I wasted quite a lot money for them, only to have 50-80 pips total / month Most of the training offer you their automatic system. They sell the system by keep your money, and 50-50 profit sharing. I don't think they sell their true technique. And honestly speaking, the technique itself very simple. But I can't share them, since there is agreement to forbit. The think I share here, I got some from two of my friends, who worked almost 20 years at multinational bank (CB, AB, SB) until now. He taught me step by step, together on screen. And, they give it free ...
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tabbykat
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20-Feb-2008 09:51
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New Forex Training Course. Check it out at the following link. http://www.pfxglobal.com/index.php?option=com_content&task=view&id=2141&Itemid=345 Cheers |
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cashiertan
Elite |
20-Feb-2008 01:20
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i personally would not recommend fx academy, i have some not so good reviews for ppl who demand refund but cant get it... 
just my personal views... |
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baseerahmed
Master |
19-Feb-2008 23:20
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Your tutorials are beautiful ! You are beautiful ! It's true ! : ) |
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wacko111
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19-Feb-2008 23:19
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Hey pple. Anybody attended fx:1 academy? Is it worth the money? | ||||||||||||
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baseerahmed
Master |
19-Feb-2008 22:34
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funny .. the post i made of suggesting u to make the trendlines in the charts be of brighter colour did not appear .. but nevertheless ... u have made the changes in the new charts .. thank you ! You are beautiful ...it's true ! : ) |
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techsys
Master |
19-Feb-2008 21:49
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All brothers ...thanks for your votes ... here is my next post ... 
Hi brother, did you earn profit by shorting this afternoon? Let me refresh the TA in USD/JPY. I don?t want to talk about Fundamental thing, learn from experience, Fundamental is something subjective. Everyone has their own perspective. No matter how good your analysis, when you tell others, they will always try to deny or make different opinion. What ever the opinion is not important, the most important thing is you can determine what is happening and impact to the financial chart. Here is the chart continue from the previous chart, it was taken today around 20:55 USD/JPY. 
After long consolidation time, we see the chart went down sharply. Please compare with EUR/USD the same time period. One moves synchronously to others. (I just show you EUR/USD. Please check others two to verify) 
Excluding the fundamental news, I said before USD/JPY moves around 90 pips. So with opening around 108.20 then the 90 pips range will be between 107.3 until 109.1. After we know the price range, the next step is we need to recognize some pattern. Accidentally, today resistance is around 108.29 and we have support from yesterday transaction 107.36 which is still in the range of USD/JPY normal range. Please look at this following chart for more explanation. 
How to determine 108.29 and 107.36? 108.29 is the resistance that we see from chart pattern. It?s the last two double top patterns. Same to 107.36, it?s recognized from double bottom. But remember to concept of support and resistance, last support can be current resistance, if the market get down. The same to resistance, it cans be current market support if market move up. The conclusion is we need to recognize today support and resistance as identify for our trading area. If current price is close to the resistance, then we can do short, otherwise can be do long. Just now I have earned 30 pips in USD/JPY. When the price is getting close to support level, you can do long. Using this technique this morning I earned 95 pips. Here are the transaction records: 13:23 USD/JPY SHORT 108.11 OPEN 20:17 USD/JPY SHORT 107.46 CLOSE 65 pips 20:46 USD/JPY LONG 107.35 OPEN 21:23 USD/JPY LONG 107.65 CLOSE 30 pips You can see I really put transaction on the picture (There is ?buy limit? with transaction code #79025011 on it). Profit calculation (I only play 1 lot): 1 pips USD/JPY = US$ 9 95 pips * US$ 9 = US$ 855 => SG$ 1,205.55 (1USD = 1.41 SGD) Btw, this does not happen everyday. Only some occasion only, for example today. Good night brothers ... |
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techsys
Master |
19-Feb-2008 13:17
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Let set aside everything .. ------------------------------------- FX Market is one of financial market that we trade base on chart. There are 10 kind of period in FX market we can use. Longer period will be used by trader who has longer time range, bigger capital and also higher target aim. Less capital we have, we need to shift our trading chart. But it doesn?t mean we can ignore higher time period. Higher time period is used to identify the movement of bigger player. Since we are playing bellow them, we need to follow their move. So for example we need to play at 5 minutes chart, we need to understand about condition of chart at 15 minutes, 30 minutes, 1 hour and until at least 1 day chart. Understanding the trend of longer period of chart will help you to have big picture of market condition. For example here is chart for USD/JPY range 30 minutes. From this chart we can see market up trend. But can we still get in to make Long trade? We do see range 4 hours chart. 
We identified that last support level has been reached (Red Line), and we are on market consolidation mode. So, at this moment we can consider market is waiting for something. If you can identify the news, you can start trading and put target from 20-80 pips. But do it, if you really know how to read fundamental news. 
But, if there is no news, market will tend to play around (up and down). In this situation we can play for profit around 8-12 pips. Mostly beginner in FX market will play this one, because it?s less need capital than fundamental news (risk consideration). Base on my observation, this opportunity appears quite often, around 1-2 times. Let you have profit 15-20 pips (15-20%). The other sides, using 10 pips range as the stop loss; you can loss money max 20 pips / day From the chart we can have conclusion, market will move down (excluding fundamental side). But if US market making bad announcement, it will break this resistance for higher level consolidation. >> Next Identifying Support and Resistance |
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Manikamaniho
Senior |
19-Feb-2008 10:29
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Aiyoyo... abang mencakap sangat betul, sangat betul*.... |
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baseerahmed
Master |
19-Feb-2008 00:30
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hear ! hear ! i second Manikamaniho. ------------------------ already all of us , to varying degrees, have more serious things to look after in the real world .. let's lighten up a bit while in here and have fun while learning from each other .. and of course, earn a few dollars where ever it is possible from the inputs we get from well meaning forummers ... what have we got to lose .. either way we win : in terms of gaining knowledge or money or lose bad knowlegde and lessen the chances of losing money .... hahaha ! : ) |
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