How do forex traders predict price?
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Thread: How do forex traders predict price?

  1. #1
    How to know when to enter long or short? I really don't know how to predict price and gambling.

    Thank you

  2. #2
    Quote Originally Posted by ;
    quote quote quote quote quote quote Contradictions galore. Unreal.
    So, you believe I forecast? . . .no, I don't have any idea in which the price is going to....
    I exchange based on probabilities, nothing ekse, and that I don't care if price go down or up. . .because my trading isn't based on forecasts, I simply stick to the price. . .so, where the contradictions are?
    Saying just contradictions to a complete post filled with make sensestatements is at least reckless....
    So, then insolent remark you need to explain yourself. . .or do not say anything in case you don't have arguments supporing it.
    Anyway, I only posted what I am doing and is functioning succesfully for me. If somebody can take advantage of my counsel fine. Negative remarks like yours do not help anyone, so good luck for you.

  3. #3
    Should you approach a commerce thinking you understand where price will move, you have established a strong bias on your thoughts, and this may make it tough to admit that you were wrong.

    Instead, approach it like this: Perhaps price might move 1 way, and if so, what could I endure to win/lose?

    The future price is just 'possibly'. All decent traders do is put up themselves to make more when it works for them than they lose when it does not... mattering not when they were correct all the time.

  4. #4
    Quote Originally Posted by ;
    should you approach a commerce believing you understand where price will move, you've established a strong bias on your mind, and this can make it tough to admit you're wrong.

    Rather, approach it like this: Maybe price might move one way, and if so, what can I endure to win/lose?

    The upcoming price is just 'possibly'. All decent traders do is set up themselves to make more when it works for them than they lose as it doesn't... mattering not if they had been right all of the time.
    Nice simple to understand summary of trading!

  5. #5
    Quote Originally Posted by ;
    the way to know when to get long or short? I don't know how to predict price and constantly gambling.

    Thank you
    Learn how to read charts and do your own analysis, then you will be able to make a determination about how best to proceed. The choice is based on what you see, possibly you're using trend lines or reading candles. After all that, then you'll put a stop loss if the market doesn't go your way. Market is always inconsistent. One more important thing, learn the proper areas to set your stop loss when you're incorrect and not centered on pips but according to peaks and troughs and money management ability.

    regards,

  6. #6
    Million dollar question this one.
    My participation is that's also important to let go a egy. Sometimes one thinks is brilliant, but when doesn't work for you, just let it go; and be ready to continue changing it, no egy is perfect all the time. the market changes, so must the traders.

  7. #7
    By having KNOWLEDGE of the market.

    Which arrives from:

    - understanding the basics (what is price actually ? a PERCEPTION ! - I can go on with this one, but perhaps that's for a different thread), supply, demand, fundamental economics
    - understanding what moves the market, how the market works
    - studying fundamental analysis
    - studying technical analysis
    - reading books
    - reading forums/sharing experiences and thoughts with other traders
    - watching trading videos
    - HUNDREDS and THOUSAND of hours in front of charts a.k.a experience

  8. #8
    Quote Originally Posted by ;
    should you approach a trade thinking you know where price will proceed, you've created a strong bias in mind, and this may ensure it is tough to admit you're wrong.

    Rather, approach it like this: Maybe price might move 1 way, and if so, what can I stand to win/lose?

    The upcoming price is simply 'possibly'. All good traders do is set themselves up to make more when it works for them than they lose if it doesn't... mattering even if they were right all the time.
    HAHA couldnt agree more. We would be wizards.

  9. #9
    Quote Originally Posted by ;
    How to know when to enter long or short? I don't know how to predict price and always gambling.

    Thank you
    its an accumulated time and understanding of forex, which lets the trader forecast to not be exact but its a mix of fundamentals and analysis and its can be attained but analyzing forex over and over and spending plenty of hours try to forecast

  10. #10
    Quote Originally Posted by ;
    How to know when to enter short or long? I really don't understand how to predict price and always gambling.

    Thank you
    You are always gambling because it is. Even in case you're able to endure 10,000 transactions, trade # 10,001 remains a wager.

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