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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
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DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Mar 2, 2011 16:34
Shane we hear various statistics but the one I tend to believe is "less than 2% of traders make consistent money" That is the extent of the challenge across all futures mkts and I would think this would apply to forex also.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Mar 2, 2011 16:32
There are many many legitimate ways of trading and if something works for you that's good enough but never think your method is the only method. So much arrogance around this forum :-)
said
mulhouse, France
Posts: 2822
13 years ago
Mar 2, 2011 16:31
we talk 1.65 for pounds.
Shane
Lahore, Pakistan
Posts: 209
13 years ago
Mar 2, 2011 16:30
Dave , thats why i said probably only 2 % succeed following there corrections , 2% is almost equal to none.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Mar 2, 2011 16:26
very presumtuous to say you cant profit from also trading the corrections. I could prove to you that is total nonsence. Depends on what skills you possess.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Mar 2, 2011 16:23
Almost anything is possible but silly to attempt to predict too far ahead. More sensible to take pattern as it comes along the way.
Shane
Pakistan
Posted Anonymously
13 years ago
Mar 2, 2011 16:21
it all depends on ur winning chances and its all upto u , u want to play corrections and reduce ur winning chances to 30% right away by just doing it or u can play the real move and increase ur chances to 70 % right away.
Its really important for these fx bosses to keep our chances limited to 25% right from the start, the bigger our chances to loose the bigger there chances to win. They do it cleverly in the cover of helping you . All the market analysis on there sites are supposed to offer u just 25% winning chances. You can be successful even than if u understand risk management but most of us dont so only 2 % become traders and rest become loosers.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Mar 2, 2011 16:20
Have new sym at 1.4432 if break of trend line resistance on daily. (Wouldnt expect a straight line move to that level).
Boli Mekura
Guam
Posted Anonymously
13 years ago
Mar 2, 2011 16:15
Tony, what fundamentals you refer to?
As far as I can see the Fed is increasing M2 money supply at a rate not seen before and you say it is impossible for EUR to go to 1.65.
Of course at that point I do not expect 1.65.
But I have a rule: never say never.
And since we are talking about long term targets. I really think that even above 1.65 is possible long-term.
Time will show.
Shane
Lahore, Pakistan
Posts: 209
13 years ago
Mar 2, 2011 16:14
lol tony sorry that call was for GBP, call for euro is 1.40 to 1.44. But i wont accumulate rather its better to go short at 1.40 with a small stop loss and similarly at 1.44. However 1.44 will confirm the long term uptrend continuation. I assure u that if it wasnt for the analysts who deprive u of the 75% market all the time fx would be a real nice place. They brain wash u and when u see the last 4 blue monthly candles for euro u got to think who was playing corrections and who was on the right side of the market.

The euro may have a correction to 1.35 or 1.34 but we have very short term memories, euro has been rising against the dollar ever since its inception and b4 the markets collapsed it was some where at 1.60. So if the world economy is recovering i guess fx markets will also try to follow how it was b4 the great recession.
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