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198 Pages«<194195196197198>
Realities of Forex Investment
Jon Jones
#3901 Posted : Monday, July 06, 2020 11:54:25 AM
Rank: Member


Joined: 9/11/2015
Posts: 142
Location: Thika
TNT wrote:
Jon Jones wrote:
The reality of forex trading is that it is a voodoo science. These are my reasons:



- Unlike commodities and indices, forex is susceptible to unknown or unpredictable market moving news. If you are trading the cable, and the bank of England tampers with interest rates in any way, your technical research is invalidated instantly. So, I believe currencies are not technically compliant like indices and commodities where the mass market is involved and basic laws of demand and supply work. The charts can be quite erratic. You are welcome to check on tradingview the price behavior of oil (WTI - West Texas Intermediate) or even Gold (XAU) and compare their price behavior against the cable (GBPUSD). You will see that commodities, precious metals etc are more technically compliant because they rely heavily on basic demand and supply.


- It is nearly impossible to conduct comprehensive fundamental analysis in forex to back up your technical analysis.


- The moves are extremely small for the few liquid markets such as the cable. This forces traders to use massive leverage to amplify moves, sometimes even 200:1. The broker pockets large fees and the trader weathers himself down over time. Even when you are right directionwise, the funding and fees will eat massively into your profit if the trade takes long to reach your target. Leverage = High Fees = Broken Dreams.



They say 90% of forex traders lose money. I would say 0ver 97% lose money in the long run. They lose money to the few 3% and the brokers who keep pocketing large fees from highly leveraged traders, and liquidated positions on isolated margin. In other words, most forex traders are living in a fool's paradise.

The real forex traders own forex bureaus, don't use leverage and have good spreads sometimes over 5% selling to the ordinary man in the street. Banks and bureaus operate profitably but traders on exchanges using crazy leverage don't profit in the long run because the odds are stacked massively against them when fees, leverage and holding costs of open positions are factored. Change my mind.


Given opinions are like ass-holes, no one should waste their time trying to change your mind. You have a right to your ass-hole.


Judging by your uncooth response, I can safely predict that you do not earn your living from forex trading. You either do it as a passtime to make a quantum leap to multimillionairedom in a few months (without realizing that you are on a fool's errand), or you are a marketeer of trading techniques and not a real trader. Either way, I am vindicated.
Since men have learned to shoot without missing, I have learned to fly without perching
mnandii
#3902 Posted : Monday, July 06, 2020 2:49:41 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241
mnandii wrote:


GBPUSD. Opportunity to go LONG and scheme massive pips should available soon when GBPUSD corrects in wave (ii). Note the trendline. Trade against a Stop Loss of 1.2248

Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3903 Posted : Monday, July 06, 2020 2:55:16 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241
mnandii wrote:
mnandii wrote:


GBPUSD. Opportunity to go LONG and scheme massive pips should available soon when GBPUSD corrects in wave (ii). Note the trendline. Trade against a Stop Loss of 1.2248


Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3904 Posted : Monday, July 06, 2020 2:58:20 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


GBPUSD 1 Hour chart. rising in wave b before falling toward 1.2358s in wave c of (ii). NB: If it continues strongly above 1.2564 then our wave (iii) will already be in progress and will require a Stop Loss at 1.2450. Strategy short term: Look to short at 1.2550s for 200 pip move.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3905 Posted : Monday, July 06, 2020 3:07:53 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241
Gold may have One final stub above 1789 before falling in a wave three we have been predicting
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3906 Posted : Monday, July 06, 2020 3:18:38 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


EURO STOXX50 ready to fall.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3907 Posted : Monday, July 06, 2020 3:25:55 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


DAX
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3908 Posted : Monday, July 06, 2020 3:28:27 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


UK 100
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3909 Posted : Monday, July 06, 2020 4:06:43 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241
mnandii wrote:


BUY EURUSD with Stop Loss at 1.1167 and target 400 pips UP at 1.1657.

Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3910 Posted : Monday, July 06, 2020 4:17:11 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


We called to be LONG EURUSD and now a Downward sloping trendline has been broken. Looking to more upside moves.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3911 Posted : Tuesday, July 07, 2020 7:36:35 AM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


DJIA. Brace yourselves. A major fall off the sky is looming.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3912 Posted : Tuesday, July 07, 2020 7:26:54 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


BE LONG USDJPY with a Stop Loss at 107.225 and target at least 100 pips.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
TNT
#3913 Posted : Thursday, July 09, 2020 4:09:39 PM
Rank: Member


Joined: 5/22/2009
Posts: 205

Sell EUR/USD now?
mnandii
#3914 Posted : Tuesday, July 14, 2020 7:48:45 PM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


USDJPY.
The pair has completed an initial impulse wave here labelled as (1). Expect a wave (2) [and look to GO LONG] somewhere around 106.92. Stop loss at 106.63. That's a risk of about 30 pips for a possible gain of 210 pips in wave (3)
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3915 Posted : Monday, August 03, 2020 9:50:06 AM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241
The recent bull run from the March low is over in most major indices. Expect sharp falls in UK, GERMANY, NETHERLANDS, SPAIN, ITALY, UK, FRANCE.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3916 Posted : Tuesday, August 04, 2020 8:25:35 AM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


UK 100. Countertrend wave (ii) then a FALL toward 5000.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3917 Posted : Tuesday, August 04, 2020 8:27:37 AM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


Germany DAX.
Countertrend in wave [ii] the a sharp fall.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3918 Posted : Tuesday, August 04, 2020 8:30:31 AM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


STOXX 50. Countertrend in wave [ii] then a sharp wave [iii] DOWN.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3919 Posted : Tuesday, August 04, 2020 8:33:25 AM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


NETHERLANDS 25 (NETH 25). Countertrend in wave (ii) the a sharp wave (iii) FALL.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
mnandii
#3920 Posted : Tuesday, August 04, 2020 8:36:15 AM
Rank: Elder


Joined: 10/11/2006
Posts: 2,241


SPAIN ES35. Countertrend in wave (ii) then a sharp fall in wave (iii)
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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