adnan007

Forex market are considered as the largest financial market across the world with over $1.9 trillion of dollars are traded in it on daily basis which is huge as compared to US stock markets or any other financial markets present across the world...

I don't have any fixed number of daily target when it comes to Forex trading. However, as I am an intraday trader I do like to take 30-40 pips profit from my each positions and do look to win such 3-4 positions in a day which means I do target about 100-120 pips daily while trading.

I am a technical trader who do check the Fundamentals before taking up his positions. In other words, I take my positions on the basis of technical charts and indicators but only when the fundamentals are supporting in too. As then we have a maximum chance of profiting from of positions.

There is no fixed capital amount which I use. I have used a initial capital of $200 in the past but am currently have about $75 as my initial capital which was very low as per trading standards. A standard trader should have a minimum of $300 to get started in Forex.

My risk management strategy is simple. First of all, I do place a tight Stop Loss and a Take Profit on each my trades which keeps my account safe from those volatile price movements and avoids me from loosing more then expected from my trades. Moreover, I never invest more than 2% of my initial capital on a single trade.

As Forex market is a unpredictable market there are no shortcuts to success in Forex. The best and the most important way to earn in Forex is through complete Forex learning and through continuous Forex practice.

The rise and fall of the currency pairs mostly depends upon the economic and political conditions of a country. Important financial news keeps on release from time to time, such as Interest rates, production news, GDP report etc. which decides the economic condition of a country and causes the fluctuation in the Forex market.

Psychology is Forex plays an important role while trading in Forex. A trader should set up his mind in such a way that he is able to take decisions perfectly when required. Trading in fear or with greed can sometimes become harmful. A trader should stay calm and composed during trading sessions.

Forex stands for Foreign Exchange where one currency is exchanged for other currency in pair. Forex is the largest financial market in the world with over 1.9 trillion dollars of transactions are made daily in it which is just thrice as big as US stock market and Futures markets combined.

Both the trading forms are profitable but I prefer Intraday trading as I am an Intraday day who takes his positions on the basis of technical analysis. Swing trading is also beneficial if a trader knows the best entry and exit points on every positions he take.

One of the basic reason why forex traders fail is the fact that the traders dont have a well set money management strategy to deal will. As per my views, money management is the most important part of forex trading and should be handled wisely to keep earning through forex.

I agree with you @yogesh that we should not keep all our profits but keep withdrawing it from time to time as just one bad day can turn all your profits into losses. The best way is to keep withdrawing the profits every now and then and stick with your initial capital to earn more profits by trading

Well, the technical charts gives a better idea about the support and resistance level as compared to just following the price movement. The movement of each pair is volatile sometimes, but it is mostly due to any news release or due to the breech of either the supports or the resistance level.

Interesting... However I don't think the top brokers will be turning into a scam as they are benefiting a lot from the members. Almost 75% of traders loose there funds in Forex and therefore, they do earn big amount of money through their business.

1 cents per post is far below the standards as there are several PTP forums which offer far better posting rates then them. They should rethink about changing their posting rates to a minimum of 2 cents in order to come in comparison with other top posting sites with standard posting rate of 2 cents.

The moderators ae active on the forum as you said, but they must also try to update their contests threads on daily basis as I have seen, their contests are usually updated within 3-4 days but they claim to have daily contests on their forum.

Instead of several problems, they do pay their members and in consistent basis and therefore they have a good alexa ratings. Moreover, as the discussions made on Mylot are on general topics, even the members who don't have any knowledge can reply to the posts. That is why Mylot is so famous between the members.

As far as I know, it is the work of the moderators to keep looking out for the spammers and take actions against them as soon as they can. However, I don't see much activity by the moderators out there at MTV which is frustrating.

Well, as far as my posts are concerned, I post in all sections of GT and my posts are informative at the same time, therefore I never received less then 4 cents for my posts at GT. I have received about 5 payments from GT in the past and all of my payouts received a posting rate ranging from 4 cents to 6 cents.

There are still complete 4 days remaining in the top posters contest. You can still pick up the pace and give the top 3 posters a run for their money. However, a lot of posting activity are seen from the top 3 posters in the past few days and it is not going to be easy for you to recover.

I am not much active on MTW but as far as I have noticed, MTW has been owned by the same administration of DMT which is amazing. As they are a part of a trusted administration, we do not have any fears of the forum causing delays or such problems to their members.

The economic conditions became even worst in the Euro zone, which resulted in a heavy downside pressure in EUR/USD this week. The near term trend is heavily bearish and we might see more bearish movement in Eur/USD until 1.32xx. A decisive break there will confirm 1.28 and then 1.25 in the near future.

Gold faltered below its long-term support level and ended up the week about $100 per ounce down in a single day at $1658. The technical charts have started to indicate that a top was already formed and the downside bias has already started to pick up the pace.

I do agree with the fact that trend is our bet friend as I have noticed in any financial market, the price movement is based on a trend and a long-time trend lasts for years. So, its better to follow a particular trend and have a better chance to win your position.

Well, I have no complains regarding the newly implemented posting rates as the rate are still good enough to keep the members stay active on the forum. Moreover the minimum payout is extremely low which is just great.