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Thread: Forex best tool : kill or stay alive

  1. #1
    Senior Member
    Join Date
    Dec 2008
    Posts
    501

    Default Forex best tool : kill or stay alive

    Hello All,

    i came into this buisiness with an aim to make small profit

    so as to keep body and soul moving .

    every one who venture into any buisiness is only exoecting to make gain.

    but its only in forex i have seen where money is not made all losses

    i open account live recently, paid for this elite session , so as to interact with

    elite traders and also uses some tools here to make ends meet

    it has not been easy with the econonmy in my country and we want to do work

    like forex so as to eat food, but after joining this forum making payment

    i decided to use one the EA that really talked aboout heiken Ashi EA

    MY ACCOUNT WAS BLOWN OFF IN A DAY.

    I LOST EVERY THING . MY QUESTION NOW IS THIS, IS THERE NO ANY STRATEGY ONE

    CAN USE IN FOREX THAT WILL MAKE SMALL PROFIT EACH DAY AND MONTH?

    why does all the EA make losses and no one can make good gain.

    all make losses and one goes back to square one again. tyring to survive

    please am BEGGING ALL THIS FORUM TO COME TO MY AID, I NEED AN EA OR STRATEGY THAT

    I CAN MAKE AT LEAST 40 % IN A MONTH.

    PLEASE HELP ME AM REALLY GOING HUNGRY , NO MONEY NO PIPS

    PLEASE HELP

    PLEASE HELP

    PLEASE HELP

  2. #2

    Default

    If your account was blown in one day, I would suggest having a hard look at your money management and your goals.

    Forex trading can be one of the hardest things to master, psychology and greed is often the killer.

    Learn as much as you can about the market and what drives it, start at babypips.com and read everything twice.

    Only trade demo until you are consistently profitable, ideally a small live trading account as this helps you be more realistic and have better money management.

    With each trade you should look to risk only between 1 and 3% of your account size, so on a $1,000 account you would risk losing between $10 and $30 dollars max.

    There are some very powerful EA's posted here, but you need to use them wisely, things like major news releases and other major events will crush any trading system, so you have to be one step ahead of the market all times.

    Also EA's are designed for certain market conditions, for instance you wouldn't use a "trending EA" when the market is flat or moving sideways, also the time of the day can make a massive difference to the results gained from an EA, for instance the Asian session is generally very small and generally only good for scalping EA's, compared to the London/New York session which can have some huge swings and generally the best time to trade.

    I could go on and on, but the biggest advice I can give you is MONEY MANAGEMENT, don't be greedy and hope to double your account within a week, set some rules and stick by them.
    Last edited by blackdog; 06-30-2010 at 07:27.

  3. #3
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    Nov 2008
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    Midwest USA
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    124

    Default

    If it was that easy we wouldn't be here.

  4. #4
    Senior Member
    Join Date
    Dec 2008
    Posts
    501

    Default

    so brethen in the faith of Forex which EA or trading system can we hold

    does that means FOREX is spiritual or what?

    am getting more confuse now

  5. #5
    Senior Member
    Join Date
    Dec 2008
    Posts
    501

    Default

    so brethen in the faith of Forex which EA or trading system can we hold

    does that means FOREX is spiritual or what?

    am getting more confuse now

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