Hi every one,
I recently opened live forex account i mean mini with XE.com is it good for forex have u guys traded with XE before. I just opend with $500 which i can risk. I follow EMA, MACD and RSI together which proved bit successful with demo account.
But what do u think is the best system some times MACD seems to give fakes…
and what would be the best currency pair for newbie like me. I trialled with AUD/USD for demo.
I would bet that you need to slow down a bit and take your time and go through the material here again (if you already have or haven’t)…unless, of course,you’re just excited about blowing through your first account…which sounds like it’s almost guaranteed since it appears you have no plan or strategy to speak of.
You will find all that you are looking for if you just use the search button above
Have you been through the Baby pips school carefully.
Money management is more important than the system of choice.
A poor system with excellent money management will still survive.
As for indicators, the best of them (MACD) are correct at best, only 50% of the time.
I have abandoned indicators and only use direct price action.
Regards, Tymen Wortel, Perth, Western Australia.
Tymen and Tess…
i have actually seen the limitations of indicators, could you guys or anyone else help explain how to go about anlysing the market from just price actions?
i will really like to get a grasp of this
thanx for your time
Hi Blackpips,
I bought a forex course called “pro trader advanced forex course with chris lori”…i bought it from a website for US$89 do some research on google and ull be to find the website.
Now the point i am trying to make is that course really helped me understand support and resistance and supply and demand. It really helped me understand the market. I am also reading the book by john murphy “technical analysis for the financial market”…that books tells you what charts are all about!!
Lastly, i bought some steve nison courses from ebay (pretty cheap there but dunno if its original! they say it is) so you can learn about candles as well…you wouldnt wanna get caught with indicators a lot…if you work on support and resistance u’d be amazed as to how many opportunities you get to make profit…especially when the market is in a trading range…
Anyways that my 2 cents worth 
Regards
Gagan
I mean, the forum contains so much information and related topics, surf through and youll find everything you need, because more or less all possible situations till now have been discussed, as far as i’ve seen around.
the best info i have found on price action is by Nial Fuller (just google him, or go to youtube, he has great videos which you can find easily by searching price action). as other people on this site have said, there is an abundance of information here if you just look for it. and demo until you are successfully profitable! use money management or pay for your mistakes…
Wow, talk about reviving the dead 