Created: 08/07/2017 04:58:57 PM -
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Welcome to Day Trading Forex
"Where luck is when preparation meets opportunity"
Day Trading Forex is a chat where Maxx5 is the moderator. All are very welcome to submit relevant posts. This is a FREE chat board.
Day Trading Forex is for educational purposes only.
The Day Trading Forex board can show anyone the potential that exists to make additional income trading in the foreign currency market. I (Maxx5) will try very hard to be on the board Monday - Friday approximately 8:00am until around 12 noon eastern time USA.
This is an excellent opportunity for anyone to become acquainted with a little known way to supplement their income from the comforts of their home, office, coffee shop, etc.
Another beautiful aspect of this type of business is that it can be done for a lifetime, being your own boss, whenever you feel like participating.
Through your research you will find that you do not need much money to get started. Novices to forex can follow along or just lurk, post on the board, ask questions and paper trade by using the many free, simulated demo accounts that are available on the internet. I recommend researching www.ThinkorSwim.com for a free demo account.
I personally use Prophet charts (TDAmeritrade), Ally Forex and Meta5 (MQL5) technical analysis charting platforms.
For transparency purposes I use TDAmeritrade Forex and Ally Forex to place orders.
I encourage everyone not familiar with the forex market to conduct research in order to fully understand it's workings.
Anyone can register for free on the www.investorshub.com web site. Browse the site, type in the Ihub board search box for Day Trading Forex, make it a favorite board and follow along. Free users have up to 15 posts on the board per day. If you decide to pay for a basic monthly subscription for appoximately $12 you can have unlimited posts and take advantage of sending me a personal message question that I will gladly try and answer or just chat, while being able to cancel your subscription at any time.
Honestly, this could very well be financially life changing. An excellent chance to learn a new job skill. If you participate in the commodity futures or stock market you will have the opportunity to increase your knowledge to a much higher level.
The thread will focus on two trading setups.One being a divergent based method and the other trend following. The divergent method has a very high rate of being profitable, as high as one recorded study period that yielded 97.3% profitability. The most recent record keeping produced 91.8% accuracy. This is true as I have been keeping data on this strategy on and off for many years and the most recent accuracy recording dates back to June 20, 2017- August 16, 2017. Consensus study data of trader success has come to realize that 95% or more of participants lose money. Only 5% or less of the trading community can be classified as being "predictably profitable". The math based analysis that is implemented in Day Trading Forex can make you "one of the 5%". The divergent method is very professional that takes advantage of a trader or trading imbalance, one that can force a dramatic long or short squeeze. As for the trend following method, one method will be a very short trend set up while I also incorporate a longer, intraday trend. Another value you will find that aids in creating "predictable profits" is that most of the alerts will be for the USD/CAD and EUR/USD currency pairs. I have found that professional USD/CAD and EUR/USD retail traders and computerized algorithims/logarithims are coded to respond to the divergent set up and most definitely for trend following. The EUR/USD pair is the most liquid, heavily traded currency pair day in day out. We play along side the banking, economic professionals... the 5%. The one other currency pair that I focus on is the US dollar/Japanese yen (USD/YEN). Trading long (buying) and selling (short).
Please note at this time I cannot divulge the exact detailed reasoning behind my set ups that I utilize. I will tell you that they are mostly a function of logarithmic mathematics. For those of you who are paid subscribers I will share some technical values that are incorporated via personal message. The methods used capitalize on being in very close sequence with computer and manually traded logarithims and algorithims.
- At the start of each day I will post the times of relevant economic news (eastern time USA) in relation to the three currency pairs.
During the session if unscheduled important economic news is released I will also post on the board.
As I personally take a position in many of the trade alerts that I furnish I will within seconds post the trade alert and commentary on the board, managing with commentary.
I do not take into consideration the buy or sell spread when giving pip gains or losses. Pip gain or loss is a very close approximate of the overall trade action.
- Trading in the foreign currency market has many advantages to trading the commodity futures or stock/stock option markets.
- Forex is the most active globally traded market.
The forex (foreign exchange) market has very low commission rates compared to stock or stock options.
Forex can be traded 24 hrs. non-stop from the open at 5pm eastern time USA on Sunday to the close at 5pm Friday.
Forex has a zero settlement time period, which means you can utilize your capital immediately after closing one trade and go right into another. Typically trading stocks there is a 3 day settlement period before your capital is available again and stock options have overnight or 1 day.
Believe it or not but Forex can be far less risky as loss of capital triggers are built into intraday trades that your broker will electronically close a day trade should the margin requirement not be met.
In conclusion... Follow the board and research the opportunities that having a home, office, coffee shop, etc. based business trading in the foreign exchange market may offer. Remember...consistent, predictable performance is all that matters. If the game is played right the money will follow. Best of luck!
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