Forex trading system

Ive been trading in the forex market for a few years and have been posting trades almost daily for the last year+ over in the investment forum... the DMI and RSI lines are the only tech indicators i use to find trades...

Ive also been teaching my younger brother and my neighbor to trade and theyve done pretty well...my younger brother has almost 6k in his mini account...up 300%

All i look for in the charts is a cross of the DMI lines with the RSI in my favor...high for a sell and low for a buy...

4 trades posted week good for over $1600.00.....accounts can be opened for as little as $350....but i would say 2k is what youd need to get started...

Question or comments?Any other traders here that dont use the investment forum?Check out our threads...

how long did it take your brother to go up 300%

He started 7-8 months ago...but he really hasnt put much time into it...hes 19 and all wrapped up in his girl...u know how these kids are

got to love forex. 24 hour action 5.5 days a week,

what time frame do you use for dmi and rsi?
what broker(s) do you recommend?

I use 4hr charts and 14,0,0 are the values on DMI and RSI....like for the RSI to be over bought/sold with a cross but the DMI crosses alone are usually enough to get me in a trade

I think forex.com has the best platforms....several are there for you to try and the practice accounts are free and you trade real time in real market conditions....

Sounds like something to check into.

Check the threads in the other forum...a few of us are there daily and will try to help in any way we can......

Whatever the vehicle is as long as we make money
stocks
forex
commidities
etf's
options
sports (no capital gains taxes)
Its all good

I appreciate the info and i would like to know how long for a beginner to learn how to trade?

Up to you
My opinion do your best in studying the game before you jump in
You would want to know the lingo of what's what - what moves and shakes the market - basically a lot more.
This is no quick and easy way
I taught myself about forex and still am learning
It can takes from weeks to months and possibly years to be from a beginner to a novice to a pro

Great resources for newbies is:
www.babypips.com
www.forex4noobs.com
Put yourself out there and look around

Also set up demo accounts and practice live trading with those fake accounts to see how you would do
Important - never take a margin greater then 100:1
Many brokerages will offer 200:1 up to 400:1
They are scumbags and will not execute your trade right away costing you a shitload of pips.
And they can also freeze your accounts and not pay you out either for different reasons that they come up with it
Who are you going to cry to then???????????
This is an international market and basically not 1 government entity can protect us.
Me personally just my opinion don't agree with what bucknuts said about forex.com
I have heard a lot of bad shit about them no matte what their trading platform is. My opinion other places are better.
Check rating websites for different brokerages and you can see then what each brokerage's pros and cons are
To open a real standard account at a credible firm you would need a minimum of  $2,000  to  $5,000  dollars.
Some places won't even accept dollars no more

There is a shitload of crap out there with software - brokers - resources - you name it

It takes time to filter out the B.S. and know how to swim in these waters

What bucknuts does is called technical anaylis
     Trading based off of charts alone
The other form of trading is called fundemental
     That is based off of financial and geopolitical news in the world
Either way is a great way to make money

Like squeezing a balloon - it will expand somewhere else
This market is a lot like that combined with with the other financial markets. When one thing happens somewhere it can cause movement somewhere else. Its all inter-tangled

And it can be automatic too. You can prep for your next trade and then set your lines to the open the trade and close it when the currency hits it. Also if things go bad you can set stop losses to automatically get out of the trade after losing a certain amount so you don't go down in flames

I was at 1st wondering why bucknuts would post that here but I did understood then right away that he seems to be cooking something over there and just wants us over here to enjoy in some of his fine cooking

GL................

Secret you can open a practice account today and get started....the market opens later this afternoon....

The technical studies on the charts are the same as the stock market charts so if youve done any trading at all you have some exp in reading charts...but with the system i use its pretty easy to find trades...just looking for crosses of the DMI lines....i can go over a chart with you and show you what i look for in 10 mins

Max when the new laws go into effect there will be no more 400:1 leverage....forex.com will only have 50:1 and 100:1 leverage after Nov 22[i think thats the date]....

Ive traded at forex.com for several years and have had no issues what so ever...people always complainig about stop hunting and all kinds of other garbage...but you wont hear that from me i love the site and live help is always around for any questions...many sites have changed over the last six months....some dont even offer stops or limit orders now!!!

 

I was at 1st wondering why bucknuts would post that here but I did understood then right away that he seems to be cooking something over there and just wants us over here to enjoy in some of his fine cooking

Not sure what you mean by that Max,but im just trying to get people interested in trading...like Max im self taught i found forex after trading pennies...mini account can be opened for as little as $350 i think...and asw far as a reg/standard account goes i woulndt open one with less than 20k...

I dont use stops at all...all they do is STOP you from making $$$$...again come check out the threads and you can follow along with my trades using a practice account and ill show whoever the ropes if they like...we also have a forex resources thread with all kinds of site to help everybody...even has a glossary full of the lingo

I should add i wont be around when the market opens today but ill be back around 10pm....headed out to watch the Bungles/Bears game..

Gotcha Buck........
We're on the same page
You know how usually somebody comes in somewhere pushing their shit touting and stuff - that some sleazebag snake oil sales man stuff
But then reading through your post and checking things out  - you mean well and are doing a good thing which is appreciated

To be honest I have been out of the forex game for a few years do to work - time restraints - and finances
My goal is to parlay some of profits from my sports betting bankroll with in a few months into starting up a forex account and getting rolling with that too
I never did have any skin in the game in the past but I applied myself very diligently as if I were involved and still seek to jump in. Just need time to set up a game plan on how to attack it pertaining to day trading - and swing trading
About forex.com - news to me............
Can't argue against that
Respect what you said with the accounts and all

Max.....come check out the threads....the more eyes on the charts the better...and if you have some exp it would help all of us...i been trying to get more folks in the other forum for some time now......

My system is pretty simple and its been pretty effective,i jumped in a trade of AUD as soon as i got home...i keep my limits small but 20 pips with 2 lots is pretty good $$$....

Again practice accounts are free and you trade in real time.....and every site offers them

where to open the practice account Buck?

I would like some more information about it. I know very little and would like to know more about the DMI and RSI lines.

Where is this thread?

Freaky there are a ton of brokers out there but i use forex.com

Skills go to the investment forum we got a thread there for forex and a thread titled forex resources thread with links to tons of sites with free info

Go through the pages of threads over there and youll see threads for the last year++

Freaky........
You can check out fxstreet.com for resources
It is like the sportsbookeview.com for the forex market
As an example
Google up things and gauge for yourself
Now practice accounts you can open with anyone
Double check with Buck for a real account
He stands by forex.com - give it a whirl
I have been out of the forex game for a while and need to get my weight back up in it
By now I cannot say offhand who's quality and who's crap
Take your time - no rush
Once you do understand then you let 'er rip
Money management strategy is exactly similar to sports betting
Be very disciplined. As per bet only trade 1 or 2 up to 5 % of your account.


SKills..........
Head over to the investment thread
You'll see it there
Buck can help you out

My suggestion is this for everyone
Fish for a man - feed him for a day
Teach a man how to fish - you feed him for a lifetime
Whoever wants to make some more money - step up to the forex market and you'll be glad you did - Buck's thread can help for starters as long with many great resources
Learn & filter out the B.S. - There is plenty of that too just like the sports betting industry

Skills.........
Read over this thread
Check the websites I put up
They are great for starters plus many more
Google more up
Take out some books from the library and study
When watching tv - also watch Bloomberg TV to get use to the game - watch CNBC during the day
Listen livestream to Bloomberg.com especially at 7am EST for the Currency reports
This all worked for me. I am mastering the game from all angles to help me be successful as possible
Check out my analogy on the balloon in one of my previous posts
To understand is to understand to whole financial markets which can help you be even more successful
Buck has a great strategy and if that works then God Bless him for it too.
You don't need to follow my adivce - as long as you found a way then hit it and don't look back. You actually don't need to know the game like how I am advocating but it does help.
Follow Buck and keep things simple for now as long as you make money
This takes time to get down and if you rush into this you will get burnt bigtime
Take your time and $$$$$$$$$ will come in
Me and Buck taught ourselves
I have no college degree at all and yet can still rap to my boy with no questions asked about finances and the markets even though he graduated from Penn St with a degree in Business Finance

Buck..........  
I see you must of have a good time at the pigskin game
Unless you're a Da' Bears guy
Got some knowledge with many aspects of forex just need to knock off the rust. The more the merrier - all about it whatever I can help
This may be a wake up call for me too to get jiggy with it in forex
Good stuff you got going over there
It will take me some time to set things up and get back into the swing of things
I mean how much better feeling can anyone get by making money in their sleep with the overnight trades..........

Gotta roll for now - be back around tomorrow dinner time EST

Max you and i think alike....i put that saying of "Teach a man to fish" in another thread awhile back....we have a forex resources thread in the investment forum that has babypips.com,dailyfx.com and many other sites...

Anybody that really wanting to get some good info should go to dailyfx.com....they have forums and even threads with instructors that have daily video blogs to help find trades...they even go over entry and exit points....

Everything you need to know to get started is all in one thread....Hope to see ya over there MAX

Bucknuts,

Thanks so much for this thread and awesome job going out of your way to help others...My real goal with sports betting is to make money and then invest it down more "legitimate" avenues (for example the Sotck market, mutual funds, forex, CDs, etc.)

I am going to trail you guys and try to learn as much as possible and maybe within a few months or a year or two jump into it.

Thanks again

Patrick...........
My real goal with sports betting is to make money and then invest it down more "legitimate" avenues (for example the Sotck market, mutual funds, forex, CDs, etc.)

Watch out though with those legit avenues
The capital gains tax is going to skyrocket real soon and eat into your portfolio big time.
Like up to 38% of your profits if I'm correct  
Its not my business to know what your political ideology is but if you don't mind working hard just to spread your wealth to your fellow Americans who rather comply with bleeding the system then help yourself and do your patriotic duty as Joe Biden said and pay higher taxes. Its actulally all a ploy for a powergrab done by both parties. Its the progressive way

Mutual Funds................
Instead ETF's are the way to go my man...........
Mutual Fund fees will kill you too on top of the taxes
ETF's  (Exchange Traded Funds)  charge a lot less fees and are a great vehicle to gain broad exposure in any certain niche of the markets. A lot less hassle too in so many ways

Screw CD's...............
2 - 3 - or  5%  for a year???????????   F' that dude !!!!!!!!
There are so better ways to even conservatively build a portfolio

Do not know exactly the tax structure with forex but will look into it
This is why I have focused utilizing these similar principles with **investing** in sports betting - no capital gains !!!!!!!!!!

Step 1 is to make the money
Step 2 is to keep as much as you can from fees and taxes

Intuition.......... I love it Pat - great stuff
Catch ya around
I'll try to throw you some insight I got for growing your portfolio but am rusty for now and don't got much time do to work and the daily grind of life.

Buck..........  Thanks
See ya over there my man -