How Should I Look At Price?

Trading Discussion Currencies
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Hello everyone,

I wanted to start this discussion so we can benefit from each other’s point of view regarding trading the forex market. I have been trading for 10 years now and I have been trying to find a strategy that always wins. I know that some of you might find this impossible but I don’t. Anyone who thinks the same should join the conversation.

I know that you cannot predict the price movement 100%, I know it’s hard. But what I am looking for is to find the best strategy ever. I know there is a way. And I think if we put our heads together we can do it.

Here are a couple of things I have learned so far from trading the Forex market and I hope that you share yours too …

The market always moves up and down on all time frames. But it’s hard to predict when will the down cycle end or vise versa. But I have a couple of questions …

First is how should I look into this? If I wanted this to work how should I search for it? Can I predict the next 5 pips with 100% accuracy?

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Hi, did you visit the education section already? Regards Greg

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Can I predict the next 5 pips with 100% accuracy?

Farris, you’ve set yourself the hardest imaginable target and perhaps there’s a way of explaining how difficult this simple task will be.

Instead of price imagine we are trading temperature readings. Right now it is 9th October, approaching the start of winter here in the UK, and it is about 12degC outside: it is 1129hrs UK time: it is cloudy with a gentle breeze. At 1139hrs will the temperature be higher or lower? It sounds easy, after all, its only 10 minutes away.

Now let’s think what the temperature will be in 3 months, on 9th January. Will it be higher or lower than today? Probably lower. Probably about 5degC. So what will happen to the temperature on each of the 90 days between now and then?

Is that not easier to predict than the temperature in the next 10 minutes?

2 Likes
5

When I’m doing binaries, I’m looking at price action on mt5 and trade on site’s platform.

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You can probably take a course at the School of Pipsology and understand the concept first. This will help you a lot with learning and implementing strategies for your trade.

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Take a few beginner courses. That will give you a good idea about how to manage your strategy and implement it. Good luck.

1 Like
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Hello, can you please suggest some courses?

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If you still need to learn, I think you should visit the education section to get some knowledge.

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I agree with Jaffbezos. The best freely available resource is right here

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Hey Farris! It seems you have a great experience in trading and probably that’s the reason you believe to be able to completely predict the market behavior and price action. I’m speaking here for myself who’ve had a fair share of trade losses that uncertainty is another name for the forex market. Take for that matter the biggest financial companies who have access to tons of economical information; even they can’t predict the price movement with 100% accuracy. But, I must say your belief in predicting the market movement is commendable and hopefully you come up with a plan to do so. If you do, please share.

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I truly believe that you must take some time to learn the ins and outs of the market and then, make your decisions. If you are not knowledgeable enough, you might end up losing all your money.

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You must not enter the forex market without obtaining forex knowledge. Making profits in the forex market is all about surviving and not making losses. If you happen to learn these skills, you can take good advantage of the market.

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That’s an interesting take on it!