[Smilo Stocktrader Zakwe]
hi
[You]
Hi!
[Smilo Stocktrader Zakwe]
how are you doing?
[You]
I am doing fine,how about you?
[Smilo Stocktrader Zakwe]
I am doing fine, you are a forex trader is it?
[You]
Yes it is!
I see that you are in stocks!
where are you from?
[Smilo Stocktrader Zakwe]
I am from South Africa, yes but now I am interested in Forex, can I ask you to be my mentor in this industry
[You]
Yes you can!
[Smilo Stocktrader Zakwe]
S
[You]
I will help you as much as I can!
[Smilo Stocktrader Zakwe]
so where are you based?
[You]
I live and work in Croatia
How many years you are trading stocks?
[Smilo Stocktrader Zakwe]
just a year
[You]
ok
are you profitable with stocks?
[Smilo Stocktrader Zakwe]
to be honest with you I am not profitable
[You]
to give you comfort I don't know any trader who is profitable after 2 years!
[Smilo Stocktrader Zakwe]
ok...
[You]
what do you know about Forex?
[Smilo Stocktrader Zakwe]
nothing much what I know is that you trade currencies and its affected by the news most of the time
[You]
I must admit that there is holy grail!
what you say about that?
ok
Do you have opened an account with Forex broker?
[Smilo Stocktrader Zakwe]
yes several times and lost a fortune
[You]
demo, or real money?
[Smilo Stocktrader Zakwe]
real money
[You]
how much did you lose if I may ask?
[Smilo Stocktrader Zakwe]
$10 000 if not more
[You]
what was your strategy?
[Smilo Stocktrader Zakwe]
I am using technical analysis(using stochastic, MACD,ParabolicSAR,Moving Average and bollinger bands,5minutes chart, my target is 5%per day
[You]
ok
So you are familiar with technical analysis, and some of indicators...
[Smilo Stocktrader Zakwe]
yes..
[You]
One question for you:
what is the Nr. ONE indicator?
you have 3 attempts to guess.
[Smilo Stocktrader Zakwe]
stochastic
[You]
no
[Smilo Stocktrader Zakwe]
Moving averange
[You]
no
[Smilo Stocktrader Zakwe]
eish....then there is no Nr.one indicator
[You]
yes there is ,it is PRICE it self!
have you ever heard that PRICE is nr. one indicator?
[Smilo Stocktrader Zakwe]
no its a first time hearing that in my life
[You]
That is why you have lost your money on the market.
you have been watching wrong indicator.
[Smilo Stocktrader Zakwe]
still lestening....
[You]
Same as stochastic, price itself is a visual indicator.
First of all, price must come to certain sector (sector of rotation) then you can search for confirmation on stochastic, MACD or any other trading indicator.
I would suggest that you look topic at my forum ABC trend trading strategy, just to see some rules of price behavior when there is a UP or DOWN trend.
I have created a forum 2 days ago!
purpose of my forum is to help new traders to understand the market better.
Here is a link to FORUM:http://forex-forum-1.blogspot.com/
you can "like" and "share" if you wish!
[Smilo Stocktrader Zakwe]
tanks I have already registered on you forum and learned a lot from it my problem is not knowing how to apply it right don't know if I am that stupid or what
[You]
no, you are not stupid!
you need lot's of practice.
here demo comes handy!
to not lose real money while you are training.
First of all you need to study lot of strategies!
why?
Because your opponents are beating you with them.
You must know what others are doing on the market so you can win!
Then you must know how market operates!
Just to understood what are you fighting against.
How to do that?
Simple!
SEAT round the table with your friends and start playing Forex without computers.
[Smilo Stocktrader Zakwe]
ok...how
[You]
If you know how to create this game to be exactly as real thing then you understand how market operates but if not then you need to search over the internet how Forex operates.
After that you need to understand that there are attacks on this game from outside of the world in form of a news or trader mistake (fat finger of wall street)
After that you need to search for a time cycles!
When they are (time), where they are (price).
After you learn all of this, then you a ready to make your own strategy which would be the best on the market.
this would be your winning strategy (holy grail of Smilo Zakve)
that would be it!
