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Forex Trader Alert!

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Forex Trader Alert!

Post by romstreets on Thu Mar 17, 2011 8:17 am

Hi there, my name is Ethan and I'm from Malaysia.

I have been trading Forex part time for two years now. I read a lot of materials mostly on trading system and strategies. Recently I have purchased Steve Nison's Candlesticks mega pack and it really cost me a fortune. I have studied everything on Candlesticks and now I really wish to meet someone who can mentor me for awhile.

I have came across on different western indicator for example RSI, MACD, Stochastic, Bolinger Band, Moving average and Fibs. I really do not know the appropriate way of using them. Can anyone explain to me the mechanism behind all this?

My contact details:
SKYPE- ethan.kokhung
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Joined: Sun Oct 11, 2009 5:00 pm

Re: Forex Trader Alert!

Post by GuruRyba on Thu Mar 17, 2011 5:51 pm
Posts: 1
Thanks: 1
Joined: Thu Feb 24, 2011 4:14 pm

Re: Forex Trader Alert!

Post by slainye on Mon Mar 28, 2011 4:06 pm

Hi Ethan,

Steve Nison's techniques are essential to reading price action in trading, in my opinion. However, the knowledge is used to supplement your skills required to trade effectively using technical analysis. So, my point is, your journey is only beginning.

Youtube has several videos that cover these topics, and ultimately you will decide which work best for you, probably after too much trial and error :)

Forgive me if I speak out of turn, but if you haven't already, you need to include the following into your trading knowledge:

Emotional management - self-analysis included
Risk management - I can't overemphasize this aspect enough
Fibonacci retracements
Support and resistance levels
Chart patterns -
News announcements-
200, 50, 20 EMAs as indicators

You must read (and you will enjoy):
Any of Jack Schwager's books
Trading in the Zone
Reminiscences of a Stock Operator
Pit bull lessons - Marty Schwartz
How I made $2m - Darvas
Zen in the Art of Archery.

I hope this helps you- enjoy the journey.
Every man is free to rise as far as he's able or willing, but the degree to which he thinks determines the degree to which he'll rise. - Ayn Rand
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Joined: Sat Mar 26, 2011 1:41 pm
Location: London

Re: Forex Trader Alert!

Post by kira81 on Tue Apr 19, 2011 12:10 pm

Hi, I have been trading with Harmonics for the past few months and I would say that the results are slowly coming in.

I am looking to research more into Harmonic Trading and I have come across Apparently, they are now in collaboration with Scott M. Carney and they are teaching Harmonic Trading in the US.

Has anyone attended the course and what are your views about it?

In addition, from the website, I understand that there is a new pattern called the Shark Pattern and does anyone has any info on it?

Thanks in advance! :D
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Joined: Fri Mar 26, 2010 6:47 pm

Re: Forex Trader Alert!

Post by liverich on Wed Aug 03, 2011 8:14 am

Hi Ethan,
Your experience is kind of usual for most of us traders at the beginning of our trading adventures. But I think you should just give yourself some time to really develop a particular trading pattern that suites your kind of person. I believe the use of technical indicators can be very successful when tuned with an appropriate mental approach. You just have to discover a pattern of trading that gives you rest of mind, even when you run into an unforeseen floating loss.
Later, I will discuss more on the issue of our mental approach to forex trading, because I have discovered that a lot of trader who failed could have succeeded greatly but for some wrong mental conclusions they made in their trade speculations. I don't know, maybe you would find some useful resources at You can also learn more about trade success (expecially how to enter and exit trade wisely, how to manage your lots and how to put your emotions under control while trading) at
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