I do agree that "Don't trade, if you need to make money". This is the fact and the negatives.
So how do we translate it into?
"Do study and research, if you need to make money" or "Do the work well enough, and you may get the paid".

If you are going to decide that one day your main source income is forex, firstly try to understand the forex.
a) The time frame
b) The indicator
c) The money management
d) The strategy
e) The time you available to play

I believe that forex can be very addictive, same as those children play hours of online games without tired. As in Forex, it's much more tiring than online games, games is entertainment, but forex is mentally stressed.
Alright, forget about those things, now lets' get started.

The TimeFrame.
- the lower the timeframe, the less useful of indicators
- the longer the timeframe, of course the more useful of indicators.
- the lower the timeframe, the low stop loss and the low profit target is expected.
- the longer the timeframe, the more stop loss is needed and the more profit target is expected.
- the lower the timeframe that you could make money of, it generate monthly income for you.
- the longer the timeframe that you could make money of, it generate "side" income for you.
- the lower the timeframe, the more stress you will get
- the higher the timeframe, the less stress you will get.
* summary no pain no gain.

The indicator.
- The indicator very closed relation with timeframe. Some doesn't work. "Do you homework"
- Some indicator is redrawing the indicator. "Do you homework"
- Some indicator is lagging indicator. "Do you homework"
- Some indicator just simply guessing the line, such as Fibonacci. It's hard to predict the "C" level.
- Some does use correlation currency pair concept. "Do you homework why it doesn't work all the time."
- Every indicator has it's own strength and weakness. Believe me, you have to use at least 2 indicators.
- Indicators looks good at chart...but it shows 24hours chart. Ops, you miss the time again and again.
- One thing for sure, most indicators acts "normal" during important news release.

c) The money management
- Mostly involved Risk : Reward concept.
- If you don't know how to risk minimum money in order to get the reward, it's a worst thing in your life.

d) The strategy you are developed
Simply a style of playing such as (time, pips needed, $ per pip)
- more time, more pips, more $ per pip
- more time, more pips, less $ per pip
- more time, less pips, more $ per pip
- more time, less pips, less $ per pip
- less time, more pips, more $ per pip
and the lists continues.....
The question is does it need to have +1000 pips in order to make money?
How many pips do you need in order to make money?
If your system makes 300pips, does it mean a system with +2000pips means much better?
If you ever mention +2000pips system, kindly find out, +2000pips per day? or +2000pips per year?
Then you would probably know 50% of the story and the 50% is actually "the risk" story that is missing.

e) The time that you are playing.
All the formula, timeframe, indicators, money management, the strategy must able to tolerant each other.
You may find everyone is likely to play H4 because the reason of this and you may find another reason, they will stay for it for a very longtime. Why?
It's a simply of, a shorter timeframe gives your result faster.
H4, gives you a more time to know you are loss and wins.

If you want to make money in forex:
a) Everything is a daily result
b) Timeframe maximum H1, minimum M15. If you want to work hard for the money, it is actually M1.
c) Look for leading indicators. Believe me, M1 don't use any indicator is the best.
d) The risk and reward "once you know the method you want to play"
e) The time you available to play. Don't play 24hours. It's not a "WORK". Instead, focus on study.
If you want work, there is a lot of work outthere. Forex is a strategy focused. not work focused.

It looks like a theory when you read all these, but you know what, I'm writing through experience.
Those playing H4 is simply a "side" income or a part time income.
Because they don't believe daily trade can make money or can replace their main source income.

Kindly do the homework above, and explain what I'm actually suggesting and then we could start the topics further down. Provided that you really want to have a main source income. Am I strict? Well, don't we quite serious about it....and I don't want to find out someday we all say....We have been in forex for 5 years, nothing much happen.

You are ready when you know what I'm talking about from the above. You are not ready if you don't know how to mix around the tools and the knowledge you have learnt.

Teacher teaches us how to pronounce the "A B C", but are we saying the "A B C" all the time?
The fact is that, we use it only to teach children right? The rest of the time we don't do that.

Therefore, we may find the teaching of " A B C " a lot in the forex.
But do we use the A B C all the time? It is actually meant for beginners to show how "A B C" works.
The actual strategy is Mixing "A B C" to form a new word. From a new word, mix with conditions, then it forms a sentences. A sentence only use once for a specific meaning that you want to express and to know.

I'm rather not going deeper, this might confuse you all if your foundation is not strong.
Kindly do homework, and tell me what you have in mind.
Thank you for your time.

p/s i like this forum pretty much compares to others...others just look for shortcut.
I don't believe a shortcut will do for a trader who likes the main source of income 100% from forex.

Still figuring out how to mix "A B C" in forex?

For example:
The "A" is part of a word / noun : Such as an "Apple", "Angel", "Ace", "pleAse"
Constructed sentence : Such as "Do you like to eat an Apple?"
Condition or timing is needed : Such as you won't ask everybody about it.
Frequency : Such as ask once is enough. Don't use it that often.

Well, there are words like "the", "is" and etc.. are used often, therefore, it is the same as in the forex. Look out the very basic things inside the forex.

Let's see how it works:-
Apple = A mixture of A, P, P, L and E indicators, stop loss and target profit (total of 5 characters).
Sentense = how to use it in a more appropriate way. You can't say "Do like apple?" You miss out the words.
Condition / timing = when to use it for the most promising profit.
Frequency = use it only when needed. Not all the time.
Frequently accompanied word = candlestick, timeframe, sessions that you are trading.

Steven

No offence intended but I have no idea what you are trying to say here. Can you simplify?

All the best

Michael

I second what Michael said.
It is probably because English is not your native language Steven, but your posts are just confusing.

Keith

Actually there are two parts:
1st part : Talking about forex
2nd part : Talking about English or any language out there as compare to forex.

The concept of mixing:
1. Using only one indicator surely not enough.
a) Basically indicators defines fast entry, slow entry, fast exit and slow exit. (1st concept)
For an example :
Moving Average : You want it to be fast, change the setting. You want it to be slow, change the setting.
You want it fast, means either your entry is fast or your exit can be fast.
You want it slow, means either your entry is slow or your exit is slow.

b) Some drawing is needed. (2nd concept)
Fibonacci defines lines of supports and resistance, so with Pivot points.
It's a totally different view of an indicator, to support your entry level, stop loss, target profit level.
Drawing a trendline or support and resistance line does make a clearer picture.

c) Indicator focus on extreme level too (3rd concept)
With all the divergence available, either MACD divergence, or stochastic divergence, it specifies only the
suitable condition and timing is met, then shall you place an order. Does it mean you could place your bet
higher than normal?

d) Bollinger bands show the breaking trend, reverse trend (4th concept)
Bollinger bands can see weaken signals through out the breaking trend with the help of a candlestick.

2. Some indicators are just the opposite of the others, and some indicators should be accompanied together.

In summary : this is the mixing of indicators and tools. The above is just an example.
If you trade breakout, of course the moving average is left out, and news announcement is needed and timing. In order to success, we should watch out for the combination of indicators or tools to increase the chances of winning. Some people might say, I'm not leaving out the news, the moving average line is in there at the news announcement time, as long as the indicator is there, I am doing news trading as well. If I put moving average in a smaller timeframe, I'm doing the scalpers also.... if I put H4 or longer time frame, I'm trading a long term strategy as well, and the list continues... by modifying that one indicator to fit all the trading conditions.

When somebody tells you to use MACD, it is just a basic knowledge. However, if you mix MACD with stochastic or other indicators with tools, you should have some knowledge of why you should not depend on using MACD alone. I called it "experience".

What I'm saying is that, you are the own creation of the trading system. Combination of tools and indicators and not forgetting the time for your available time to trade.

Everything out there can't make 100% winning without mastering of the strategy.
The only strategy is your ability to mix around the tools and indicators for playing. Something like
Formula A is used when condition A + condition B is met
Formula B is used when condition A is not met, but condition B is met
Formula C is used when only condition A is appeared first then the condition B.
and the list continues...

I hope you guys understand what I'm trying to say.

I believe Steven is saying that just as in language you start with the basics (the ABCs or the alphabet) and then you develop the ability to translate the alphabet into words, sentences, phrases, and finally intelligent concrete well thought out ideas, the same sort of development, growth, and construction is done in forex. We learn a lot of concepts (ABCs) in forex. But until one learns how to forumulate the concepts into workable solutions/strategies, adapted to one's own style and psychology, one is forever operating on the basic level of the ABCs and will never be able to graduate into the status of an independent individual/trader.

That is what I took from the posts.

Vincent

To Vincent,

Yeap, you catch the meaning. I like the sentence :

"one is forever operating on the basic level of the ABCs and will never be able to graduate into the status of an independent individual/trader. "

In order to make money, we all have to know what we are doing now. Are we going to graduate or are we stuck? Are we too greed? or Are we too fear?