If there is anyone who told you that he/she can predict the forex
price movement, you will not believe them if you are smart enough,
because it can only be a lie. Science cannot move prices and neither can
anyone. But when it seems so difficult to make money in forex trading,
you can do so not only by using your forex trading system, but also by
price movements.
Well, if you do not know the real reason behind why forex market is unpredictable, let me tell you. Institutional traders, banks and other huge institutions can decide what is the price of any currency pairs. Don't get me wrong, I do not mean that they can control it, but they trade big volumes and so the prices are pushed down or up. Therefore, all of them are humans and you cannot predict what they think..which leads to uncertainty.
I know recently, there are lots of hypes about automated forex trading systems, or they called it robots. Those guys who created it know that there's a big market out there, and they try to use all sorts of marketing gimmicks to make people believe that the robots can actually predict prices in advance. Well, if anyone can know the prices in advance, then there will be no market at all because everyone wins and no one loses...do you realize that!
Having said all of the above, one can still profit from forex trading if you can calculate the odds and trade from there. Though you cannot predict human nature, the emotions for greed and fear are always present in trading. For example, you see many trading opportunities, but are all of them have high odds of winning? If not, then you have to filter those low odds quantity and go for a high odds quality trade. With constant discipline and money management, you can do well in trading. I know we all want to have the perfect forex strategy, able to pick market tops and bottoms, but let's face it, it's simple impossible.
So I have a trading method here which not too many people will use, because everyone wants quick and fast profits. Take a look at a longer timeframe forex chart, maybe daily or weekly chart, and you will see trends that last for weeks or months. Most of the trends start and continue from highs and lows. You can trade breakouts according to the support and resistance levels for that currency pair. Once it breaks out of those levels, there is a high possibility of success.
Get this clear, you are NOT predicting or forecasting the future price, but instead you are trading the reality of price changes. Most traders can't trade breakouts because they think they have missed the opportunity, but remember that opportunities always arise. Get these forex trading profit tips right so you can make money in forex.
Well, if you do not know the real reason behind why forex market is unpredictable, let me tell you. Institutional traders, banks and other huge institutions can decide what is the price of any currency pairs. Don't get me wrong, I do not mean that they can control it, but they trade big volumes and so the prices are pushed down or up. Therefore, all of them are humans and you cannot predict what they think..which leads to uncertainty.
I know recently, there are lots of hypes about automated forex trading systems, or they called it robots. Those guys who created it know that there's a big market out there, and they try to use all sorts of marketing gimmicks to make people believe that the robots can actually predict prices in advance. Well, if anyone can know the prices in advance, then there will be no market at all because everyone wins and no one loses...do you realize that!
Having said all of the above, one can still profit from forex trading if you can calculate the odds and trade from there. Though you cannot predict human nature, the emotions for greed and fear are always present in trading. For example, you see many trading opportunities, but are all of them have high odds of winning? If not, then you have to filter those low odds quantity and go for a high odds quality trade. With constant discipline and money management, you can do well in trading. I know we all want to have the perfect forex strategy, able to pick market tops and bottoms, but let's face it, it's simple impossible.
So I have a trading method here which not too many people will use, because everyone wants quick and fast profits. Take a look at a longer timeframe forex chart, maybe daily or weekly chart, and you will see trends that last for weeks or months. Most of the trends start and continue from highs and lows. You can trade breakouts according to the support and resistance levels for that currency pair. Once it breaks out of those levels, there is a high possibility of success.
Get this clear, you are NOT predicting or forecasting the future price, but instead you are trading the reality of price changes. Most traders can't trade breakouts because they think they have missed the opportunity, but remember that opportunities always arise. Get these forex trading profit tips right so you can make money in forex.
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