In need of swing trading help !!!
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    FXmug is offline Newbie
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    Question In need of swing trading help !!!

    hey guys! A little back story as its my first post,
    I've been trading fx since about late 2010, i've tried various strategies all with the same result, losing money!

    So i'm here in need of some help, i'm only looking to make a few % a month...consistently! cant be that hard hey?? haha
    I don't even mind paying for a strategy if it can be proven to work.
    I have a long busy day job so swing trading is my only option right now, I like to trade the D1 TF or higher I don't mind longer-term trades this would suit me, as long as they helped my account grow

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    emeraldorc's Avatar
    emeraldorc is offline Master Contributor and Member
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    FXmug is offline Newbie
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    Thanks for that, but ive read it all before(not saying i know it all because i clearly dont), ive been in forex for many years now, i just would like to be recommend a system that someone is using and knows is profitable !

    cheers

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    emeraldorc is offline Master Contributor and Member
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    I suggest taking a step back to HM Gartley. This is the simplest system proven by many to work in all markets. You won't find any traders here with profitable systems most only claim to make 2% gains at best personally I think that over the lifetime of their account they all negative including spread.

    I suggest doing your own research starting with Gartley, Gann, Elliott. Any good traders won't share their system. I won't advice paying. You will have to factor that cost too. Sorry but it is the truth.

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    FXmug is offline Newbie
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    Well this is the kind of natural conclusion that im coming to...it's that, the majority of people cant and dont make any money trading full stop! its not that FX is a scam as such but there are so many sharks out there and get rich quick bull crap...you could blow your life savings trying to find out how to actually trade! The big banks are the only real players who win at this "game" the central banks actually collude to SET where they want currencies to be trading through the BIS for example. When you have the capital to literally move a market with your massive trades its a game you cant lose!!!

    One saying I came across a while back talking about the American Gold rush crystallised it for me, it went like this.....

    "It is more profitable to be selling pans than actually be panning for gold"

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    emeraldorc is offline Master Contributor and Member
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    Quote Originally Posted by FXmug View Post
    Well this is the kind of natural conclusion that im coming to...it's that, the majority of people cant and dont make any money trading full stop! its not that FX is a scam as such but there are so many sharks out there and get rich quick bull crap...you could blow your life savings trying to find out how to actually trade! The big banks are the only real players who win at this "game" the central banks actually collude to SET where they want currencies to be trading through the BIS for example. When you have the capital to literally move a market with your massive trades its a game you cant lose!!!

    One saying I came across a while back talking about the American Gold rush crystallised it for me, it went like this.....

    "It is more profitable to be selling pans than actually be panning for gold"
    People do make money but people approach the markets like going bowling, do it a couple times and you are away...

    This is puzzling because being a trader is more stressful than being a Surgeon. My Dad was military surgeon so I should know. However a Surgeon trains for 8 to 10 years and some are still bad. These same people reckon that in 1 year they can master and earn as much of a surgeon, all they need is 100k and a few large screens. It is comical frankly and insulting to actual traders.

    The few who take trading as a dedicated pursuit almost always come through. Also if you have made a few gains it is likely you will diversify into other markets, FX can be a good training ground but you want to trade futures and equities, now we are talking... FX has zero volatility and capital is so small, any large account simply looked at the inflated currencies and any half baked idiot would have known all the currencies were over valued in a climate of falling wages and disaster Europe.

    Sell the damn things stop loss at 5000 pips at 100k lot lot go for a dring not even 6 months later 1229 pips 12k wrap up and repeat the process when stirling hits 1.4900. Simply currencies get banded below or above a certain number becomes dangerous central banks intervene. There is no science in it, the real test comes when you want to trade the volatility, now that is true skill and worthy to oly those who will invest the time. Don't take my word for it, read market wizards series. Can't speak for regular folk who think it is easy.
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    eddieb is offline Newbie
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    Its not the scams and sharks, although there are plenty, a lot of it is people not taking the time to learn, practice, take advice, develop a strategy, and not having monetary discipline and sufficient emotional detachment from their trading to make success of it.

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    GlobalMacro is offline Newbie
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    Quote Originally Posted by FXmug View Post
    hey guys! A little back story as its my first post,
    I've been trading fx since about late 2010, i've tried various strategies all with the same result, losing money!

    So i'm here in need of some help, i'm only looking to make a few % a month...consistently! cant be that hard hey?? haha
    I don't even mind paying for a strategy if it can be proven to work.
    I have a long busy day job so swing trading is my only option right now, I like to trade the D1 TF or higher I don't mind longer-term trades this would suit me, as long as they helped my account grow
    It's simple. Swing trading is all about the fundamentals. Determine the directional bias of the pair based off the fundamentals, use the RSI to pick entries in a ranging market and use fibs to enter on pullbacks in a trending market. Thats all there is to it.

    If you want to figure out a complicated way to lose money, then study Elliot waves, Gartleys, and Gann.

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    emeraldorc is offline Master Contributor and Member
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    Quote Originally Posted by GlobalMacro View Post
    It's simple. Swing trading is all about the fundamentals. Determine the directional bias of the pair based off the fundamentals, use the RSI to pick entries in a ranging market and use fibs to enter on pullbacks in a trending market. Thats all there is to it.

    If you want to figure out a complicated way to lose money, then study Elliot waves, Gartleys, and Gann.
    This is precisely what I mean by hobby approach... Just take the above statement... If trading was as simple as using the broker supplied RSI and a Fibonacci tool then why aren't people making money?

    The fact is most will keep wasting thousands in the market till they loose their job or some or other disaster till then let's enjoy the fun.

  10. #10
    FXmug is offline Newbie
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    Haha this thread already encapsulates my struggle nicely............. there is no "one" right way to trade, as someone here has said i need to check out gartley etc....then someone comes straight back and says its a complicated way to lose money!
    if there was one way to make money there would be NO market as the globe would all be buying and selling at the same time!!

    all im asking for is someone who has a profitable swing trading strategy that i can trade on D1 or higher TF's... so i can trade round my day job.

    been looking at NickB's 4H Scalping Method ...this seem pretty good ?!...
    emeraldorc likes this.

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