How can I make constant profit on FOREX Market?any recommendation based on your experience? -

No adds our try-to-sell please!!!Im just after some exact suggestions not sellers who wants to sell what they provide!! There are three categories of making money in the Forex market. One is by using Fundamentals trading. This is trading on news announcements, geo-political activities and other influences that move the Forex market. Various news announcements have some very dramatic influence on the price of the various Forex currency pairs. The challenge comes in guessing which way the news will drive the prices. A second category of Forex trading is Technical Analysis. This is the fine art of determining the short term movement of the market based on the study of charts, technical indicators, trends and the past performance of prices based on previous actions. The theory here is that prices move in repeatable predictable fashion. This fine art requires proficiency at determining support and resistance levels. pivot points, fibonacci points, psycological levels and trends. The high degree of interest in technical analysis is driven by the fact that a very large percentage of banks, institutions, maoney managers and professional traders utilize these same indicators and strategies to trade a large part of the $2 trillion per day that is moving in the market. If you can guess the same decisions that they are making you can quot;ride alongquot; and perhaps make some good money. The third way to make money in the Forex market is the one that the bulk of my clients use. It is certainly not as fast moving and quot;excitingquot; as the other trading styles. In fact it is considered more quot;investingquot; in Forex rather than quot;tradingquot; in Forex. It is a more conservative, long term investment strategy based on hedging with two or more currency pairs. There are three ways that we make money utilizing a hedging strategy such as the one that we use. First, we are paid a daily interest payment based on the respective currency pairs that we choose to trade. For example, I currently trade the GBP/USD and USD/CHF. I earn $23.14 each day on one of the pairs and I pay $0.72 every day on the other. So I get paid the net difference of $22.42 every day whether the market goes up or down. Secondly, the hedging strategy is based on trading quot;closely negative correlated pairsquot;. This means that while one pair price goes up the other goes down. This uniform movement does not always happen in exact harmony so we use an automated quot;robotquot; to monitor our accounts 24 hours a day and capture profits whenever the pricing moves a defined percentage in our direction. And lastly, since our positions tend to offset each other we are not greatly influenced by huge price spikes in either direction although we do take advantage of these large movements to automatically buy additional lots when prices move down and to sell off a few lots to capture profits as prices move up. I hope this gives you some ideas of how to make money in Forex and the differences between trading and investing. May all your guesses be good ones. Paul The only way AFAIK to make predictable profit is to buy/sell foreign currency at a commission. But the market s sewn up, I expect. It s the same as making a consistent profit in trading equities or commodities - you need to have a trading system that fits your trading style and a trading plan that you stick to no matter what. The people that I have met that make money trading have those elements and good money management (not overtrading the account). By trading system, I mean a system that fits your trading style, ie, are you a momentum trader, day trader, swing trader, position trader. It should be a system with entry strategies and exit strategies. Your trading is a part of your trading system, ie, what are the triggers for you to enter a trade, and what are the triggers that get you out? This is not something that comes to you in 5 minutes. It takes time to discover your style and develop a trading plan. Also, remember that a good trading plan/system doesn t need to be right all the time. You can be right 50% to 60% of the time and still make good money. I know of one person that is right about 50% of the time and makes really good money. The issue is that you need to have discipline to stick to your trading plan quot;though the heavens may fallquot; and not second guess it. There may be times you want to second guess and if you had you would have made money, BUT, that sets up a bad precedent as you will then always be second guessing your system/plan. Remember, to make money trading you need to: - Let profits run - Cut losses short - Have good money management. Recommendation : 1. Think Simple. 2. Dont be too ambitious 3. Keep to the same time frame. 4. Keep to ONE currency pair ! If it USD/GBP so be it. 5. Keep to the same technique. Dont use too many tools. You can experiment. But within boundary 6. Dont use one technique to explain or cannibalise the other. like elliot wave vs candle stick. 7. Remember your time frame when you are reading commentaries. Everyone s timeframe is different. 8. Get on a Tutorial programme. Pay if you have to. Scour the forum. You will get an idea what is good. But remember quot;one man s meat is another s poisonquot;. 9. Patience. Even the Masters dont get to be masters overnight, some even a decade ! 10. Relax. http://www.forexaim.com Forex is a scam. There s no academic research showing that it is possible to make money in the Forex market, and currency is a depreciating asset, you d be crazy to buy it on high margin. You should buy appreciating asset classes like stocks or real estate. Also, you should model any trading strategy heavily - you will be simply amazed at the volatility. A trade where you bet $1000 to make $1,100 that wins 50% of the time looks like a good investment - until you hit a bad streak and your down $5000. Then you wonder if your trading system is bad or you re just unlucky. If it s bad, then you re going to throw good money after bad, and if you re unlucky, well you re going to have to risk more money and further losses to to get back to even. Sounds like fun? It is interesting that some people think that it is not possible to make money in the Forex market place. I guess someone should explain that to George Soros and Warren Buffet since they are both very successful Forex traders. Maybe we should also let Chrysler-Dailmer know, since they made more money in 2005 in the Forex market than they did selling automobiles. There is $2 trillion dollars a day trading in the Forex market. I guess that all these people, banks, institutions and countries are losing their money? I guess we should just invest our money in the stock market. Maybe in the next Enron. Or perhaps we can find a couple of companies that are defrauding investors by pre-dating options. It is true that the uninformed can easily lose money trading in the Forex market. But there are conservative strategies with which I have been averaging over 11% a month for the past 14 months. And the main reason that I am able to earn returns like this is because of the fact that the Forex market provides me the opportunity to utilize leverage to my advantage (up to 400-1). I guess the issue is that one can leverage knowledge or one can leverage ignorance. I would strongly recommend Plan A!