I’d like to ask a couple of questions that have been plaguing my mind since the start of my FOREX journey:
There’s talk about ‘bulls’ and ‘bears’ as though we’re all part of just one side. Realistically though, aren’t we just BOTH and we’re just waiting to go short/long at opportune times? Who are these mythical bulls and bears?
How often do you all engage with the trading part of this website (technical analysis, trade ideas etc) to seek new pip opportunities?
Hard to say, but are you guys typically ‘up’ in profits and is this a side-job for you/are you making enough to pay the bills with FX?
Q1.
Yes, bulls and bears are the same people. Actually, if they have sufficient capital to move forex prices, then they are the same institutions and not people at all. But its handy journalistic shorthand to refer to them as two opposing camps and not too far from the actual situation - a market can only exist when two parties disagree over the value of something…
Q2.
I never ever ever seek new trading opportunities from any website. I know what I want to trade in and trade these markets when the set-up arises. But sites like this are useful places to learn about alternative approaches and to get a critique of your own approach.
Q3.
Yes, and Yes. As for paying the bills, I rarely draw cash out of the account. When I started in foirex I did make sufficient to allow some good cash withdrawals but then went through a dry spell after I had over-refined my own set-ups - which stopped me getting into many many winning positions. I have now gone back to an earlier approach and am re-building.
Yes, we are all both bulls and bears. But at any given moment, all market participants on a given currency pair fall into one of those two camps. Don’t overthink it - it’s just a linguistic shortcut.
I actively avoid reading projections about the future movements of the pairs I trade because it biases my own analysis. I will, however, go back and read about a movement I failed to predict and understand.
I started (demo) trading this summer. Like most new traders I lost a lot of money. Having finally pnned down a system that works for me I have repaired about half the damage to my account. When I get back to break-even, I will shift to live trading.
Very clear and simple things but I must say that you are very intelligent that the same things in forex you have asked in different way. You are right that bulls and bears are the same, we are the both. I have never ever searched for any options from this site. I just use BabyPips for learning different terms, techniques, methods etc. It took a long time to make continuous profit from Forex. But now I am earning a good amount of profit from here and it’s not a side job for me.
We are, indeed, bulls and bears, though not at the same time. It depends on which group is taking prevalence at which time and at which group one belongs at a given time.
I do read analyses sometimes, but I do not necessarily follow them. I think that sometimes - often even - they can provide me with good ideas, but I need to make my own analysis first and foremost.
bulls reffers to the people who are at this very same momemt long on a security.
bears reffers to people who are at this very same momemt short on a security.
nothing reffers to people who are not trading at this very moment the security which is in the actual focus.
both terms reffer to actual market participants. if youre not shot or long in the discussed security you are simply nothing, not a bear not a bull.
when you are observing a security but hold no position and plan to open a position when the time is right then you are a side liner and yet no bull or bear.
