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Learn Forex Trading at Forexoma.com

Forex Basics, Forexoma Products and Services | Tuesday, September 28th, 2010

Anybody who visits Forexoma.com for the first time and reads the first article, admits that he/she is at the right place and the website to start learning and trading forex. The reason is that Forexoma articles are written by the real forex traders:

Hi Forexoma,
I have been learning Fibonacci trading for a year including from the book of The Ten Essential for forex traders by Jared Martinez where he had explained it quite well and detail but it was very hard for me to understand well how to use it in my trading-demo. However, after reading your articles about Fibonacci in this site, I have been able to understand well and I can apply it now in my trading. You explain something in simple way but VERY EFFECTIVE and easy to be understood. I very like your explanation. Congratulation!! You are the great teacher.. and I debt to you forever by reading your articles in your site. Thank very much, only God bless you.
Comment by Jonathan

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72 Comments:
post a comment
Comment by Forexoma
2010-09-28 16:07:16

Hi All :)

I think this page is the best place to leave your comments, ask your questions and receive answers.

Best regards,
Forexoma

Reply to this comment
Comment by mamoun ali
2010-10-01 00:36:33

My great teacher Forexoma

I am using RSI brakout system
Is it good to use it only with candlestick or it needs more indicators?
Advise me please

Thanks

Reply to this comment
Comment by Forexoma
2010-10-01 10:18:48

Hi Mamoun Ali, Thanks for your kindness. I prefer to use RSI with MACD bars. So you will have stronger trade setups. Of course the number of trade setups will become less. But you will pick the best ones.

Reply to this comment
 
 
Comment by sanjaychowdary
2012-01-18 01:01:26

Great.Best place to learn more thanks to forexoma

Reply to this comment
 
 
Comment by Chi eze
2010-09-29 11:59:24

Dear Forexoma how do you differentiate between a retracement and a reversal in a trend for example in a 4 hour or daily chart. Please your response will be highly appreciated.

Reply to this comment
Comment by Forexoma
2010-09-29 17:49:08

Hi Chi, We have an uptrend when we have higher lows. We have a downtrend when we have lower highs. Right?

When we have an uptrend and we are waiting for the reversal, the first lower high we see can be considered as the true and strong signal of reversal. It is the same with the downtrend. When we have downtrend, the first higher low is the sign of reversal. Before this, we may see so many reversal formed by the candlesticks, but then the trend will be continued. Keep in your mind that trend is continuous but reversal happens only once.

The best way to follow a trend (retracement) is following the continuation signals formed above (in uptrend) or below (in downtrend) the Bollinger Middle Band and also support/resistance breakouts to the direction of the trends.

Hope this helps :)

Reply to this comment
 
 
Comment by Mariela Ortiz
2010-09-29 22:43:41

Hola Sr. Forexoma:

Estoy interesada en sus servicios de señales forex. He estado navegando en su página y he visto que tiene bastante información muchísimo mas que muchas otras lo cual me parece muy bueno. Pero a la vez me encuentro un poco perdida y quisiera pudiera responder algunas preguntas.

1. Donde esta usted hubicado para llamarlo (me gustaria saber el pais), tiene algún número, pues no encontre en la página.
2. No encontré link de soporte.
3. Como sé yo que al pagar me van a enviar las señales.
4. Tienen algún horario en particular en el cual opera y enseña

— Yo soy de Bolivia y estoy operando en forex hace 3 meses y he pasado un curso básico en mi pais de análisis técnico del mercado de divisas y realmente estoy interesada en estudiar y entender a profundidad este mercada. —

Muchas gracias

Reply to this comment
Comment by Forexoma
2010-09-29 23:55:48

Hola Mariela, Gracias por tu comentario.

1. Nuestro servicio es compatible con la señal a través de unos pocos países como Canadá, Rusia y la India para cubrir el mercado de divisas 24 por día.
2. Aquí puedes enviar tickets de soporte: http://www.forexoma.com/help-desk/
3. Enviamos por correo electrónico y SMS a las señales.
4. No hay un horario especial, porque en el mercado de divisas no está claro cuando se tiene una configuración del comercio.

Apuesta se refiere,
Forexoma

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Comment by Chi eze
2010-09-30 00:16:43

Thanks Forexoma i am very grateful.

Reply to this comment
 
Comment by Kingsley
2010-09-30 09:30:45

Hi Forexoma
Long time.
I finally enrolled in your program. I made my first payment. What’s next?

King

Reply to this comment
Comment by Forexoma
2010-09-30 20:45:23

Hi Kingsley, Welcome. Your account will be setup and you will be informed via email.

Reply to this comment
Comment by Kingsley
2010-10-03 06:15:17

Hey Forexoma
I was wondering, what’s the Bollinger Bands settings?
Thanks

your recently new member
King

Reply to this comment
Comment by Forexoma
2010-10-03 07:01:31

Hi King, It is the default setting: 20

Reply to this comment
 
Comment by andy
2010-10-05 05:32:45

he kingsley,

what can you say about the system?

Reply to this comment
 
 
 
 
Comment by Penny
2010-10-03 00:21:47

Dear Forexoma,

I will appreciate it very much if you could write something about Price Action. I heard many people saying that they are trading trend lines, chart patterns and price action. I knew the first two technique but i do not know what they mean about Price Action.

I am trying to find out what is price action trading but still can not find any clear definition.

Kindly help please. Thank you in advance sir!

Best regards,
Penny

Reply to this comment
Comment by Forexoma
2010-10-03 07:04:23

Hi Penny,

Sure! I will have some videos and articles about price action. Briefly, price action trading works based on the price movement. In this system you do not use any special indicator. You just wait for the price to move toward a special direction during a special period of time. Then you set the pending orders to follow the same direction for the next day.

Reply to this comment
 
 
Comment by Tosin
2010-10-05 08:57:38

Dear Forexoma

Hi Great One,
I would like to be one of your disciples soon but it is quiet unfortunate that my country is not included among the countries list where one will make payment. Please i would want you to do something about it. I am in a country called NIGERIA in West Africa. I would so much appreciate this if my country is among those countries on the list so that i can be part of your student and make forexoma my broker when you finally set it up. I will be expecting your reply to know my fate in the WORLD of FOREX. Thanks for your understanding. God will continue to enrich your pocket and keep you alive for novice like us.

Reply to this comment
Comment by Forexoma
2010-10-05 12:03:38

Hi Tosin,

Thanks for your attentions and sorry for the country problem. Unfortunately there are so many countries that are not included in PayPal’s list. However, there are some other ways to join our program. For our brokerage, you will not have any problem at all. You can wire your money to our account.

Reply to this comment
Comment by Tosin
2010-10-08 05:57:22

Great one,
Thanks for the reply, i am glad to know that there are some other ways i can join Foreoma aside paypal`s list. Away from this, I have some questions i want to ask on HOW TO MAKE $53,000 EVERY MONTH AFTER TWO YEARS OF INITIAL CAPITAL OF $1,000 WITH 25% EVERY MONTH. If one have $20,000 accout for example and follow 25% rules per month, it shows that after 5 years the person will make roughly $3.2 billion dollar per month. which means the person will have about $13 billion in his or her account Now here are my questions. As a councillor, a psychologist, a professional trader, a teacher,a master, a mentor, a guru and some one who has many years of experience in trading.

Q1, Would you advice anyone to leave such huge ammount with the broker for that long.?
Q2 what if the broker go bankrupt?
Q3 How will the person get his or her money back?

Please i would so much appreciate if i can get clear answer to these questions.

Thanks

Reply to this comment
Comment by Forexoma
2010-10-09 11:09:13

Hi Tosin,

Nice questions :)

Q1, Would you advice anyone to leave such huge amount with the broker for that long?
Answer: Your account will not reach to that level, because you will have difficulty in taking the positions bigger than 100 to 300 lots. For taking bigger positions you will have to have trading accounts with big banks, not brokers. There are so many big and of course unknown traders who have big accounts, over millions, with the banks. Trading with such an account has a different strategy and generally you will not be able to trade intradaily. You have to be a swing trader and in swing trading you have to have wide stop losses.

Q2, what if the broker go bankrupt?
Answer: My answer to the first question also covers this question too. You can not have such an account with forex brokers. Of course, brokers do not get bankrupt. The only thing that can happen to them is that they steal the money and run away. Then they say they are bankrupt which is not true. However, it is so many years that I have not seen a brokerage company makes such a trick. Many of them steal from the clients trades, but they do not close and run away.

Q3, How will the person get his or her money back?
Answer: You mean in case the broker becomes bankrupt? Well, if this is the case, the clients of some of the regulated brokers are covered to some levels of loss caused by the broker failure.

Hope my answers have covered everything.

Reply to this comment
Comment by Tosin
2010-10-24 16:57:36

Dear Great One,

Of course yes, the simple, clear and understandable answeres you outlined above have covered every questions not just that, it has also remove doubt in me concerning broker. Moreso, the answeres above have revealed two things to me.

1, It has eradicate the fear of putting larger sum of money with brokers.
2, It has also shown that you are a scrupulous MAN.

What more can i say Great One, than to thank you. Even if i can not pay you back now, i know and believe that someday somehow somewhere, i will pay you back either by joining your programme or Broker.

Great one, please i would appreciate your opinion on what i want to say. I have been demo trading and i am looking forward to open live account with $1000. Before i came across your site, i had the intention of opening live account with Alpari, but ever since i came across your site, i have falling in love with everything about Forexoma, i mean everything.
For this reason, i have made up my mind to use your broker but it is unfortunate that forexoma is yet to become a broker. Here are my Questions

Q1 How long will it take before you set up your broker?
Q2 Should i wait till you set up your broker before i open my live account with your broker?
Q3 Will i be able to leave $20,000 account with your broker in future time, follow 25% montly profit for two years and make $1,000000 every month after two years? I hope such account is not too big for forex broker.

Please Great One, pardon me for disturbing you with my questions…… Your opinions will be appreciated.

Best regard

Reply to this comment
Comment by Forexoma
2010-10-25 01:25:27

Hi Tosin,

Thanks for your attentions. I am glad I am able to help you.

Q1 How long will it take before you set up your broker?
Answer: We are at the last stages. Hopefully it will go live in about one or two weeks.

Q2 Should i wait till you set up your broker before i open my live account with your broker?
Answer: It is up to you. If you like to have your account with us, you’d better to wait and keep on demo trading for now. If you are in a rush to start live trading, then you can open an account with another broker.

Q3 Will i be able to leave $20,000 account with your broker in future time, follow 25% montly profit for two years and make $1,000000 every month after two years? I hope such account is not too big for forex broker.
Answer: No, such an account is not too big for us. We can handle the transactions.

I like your questions. Please don’t hesitate to ask more :)

Best Regards,
Forexoma

Reply to this comment
Comment by Tosin
2010-11-01 02:09:18

Great One,

I am glad to know that your brokerage company will soon come live, it will be a dream come true especially for novice like us.

However, If there is One thing you have taught me by reading your article on forexoma, it is PATIENCE. So, i am not in a rush to start live trading at all, even if it takes One year to launch the live account, i will patiently wait for you because you deserve it. I will keep on demo trading and learn new and more system from you that are different from what i have learnt before.

Finally, it is another thing of joy to me knowing that your brokerage can handle the transaction above, all i need is to start working hard and pray to God to help me with that capital or more cos forex is the only thing that gives me hope in life and i am inspired by you Great One.

Thanks so much for all your help and support, i have seen the latest article about Forexoma Brokerage. i will leave my comment on that page……. Once again, i say thank you, God is the only one that can reward you and he will do that abundantly.

Best Regards

Reply to this comment
Comment by Forexoma
2010-11-01 14:29:59

Thank you Tosin. Will be glad to have you on board as soon as possible. Hopefully our live trading will be ready very soon.

Reply to this comment
Comment by Tosin
2011-03-25 21:05:46

Hi Great Forexoma,

My demo account has expired, i downloaded a new one but after downloading it successfully, it will bring the previous demo account. Please , what should i do to get a new and fresh demo account.

Thanks

Reply to this comment
Comment by Forexoma
2011-03-27 13:18:14

Hi Tosin,

You can sign up for a new demo account on MT4. You do not have to download the MT4 again. Just to go “File > Open an account” on the top menu bar and you can open a new demo account.

Reply to this comment
Comment by Tosin
2011-03-28 14:31:46

Hi Great Forexoma,

Thanks for getting back to me, i have uninstalled forexoma MT4 completely from my PC with the hope that i will get a new and fresh demo account by doing so. The reason why i need a new demo account is because some bars have been closed mistakenly in my demo account e.g time frame bar, terminal bar e.t.c just to mention a few, and with these bars missing, i can not trade, even when i downloaded a new demo account, these bars are still missing.

Sir, please, what can i do about this? I will be glad to get a solution from you so i can resume back my demo trading.

Thanks and God bless

Reply to this comment
Comment by Forexoma
2011-03-28 21:58:04

Hi Tosin,

You need to go to “View” at the top menu bar and activate the bars again.

Reply to this comment
Comment by Tosin
2011-04-17 00:56:43

Great Forexoma,

I forgot to tell you i have done as you instructed me to do. Just want to say THANK YOU.

Reply to this comment
Comment by Forexoma
2011-04-17 07:51:59

Thank you too Tosin.

Reply to this comment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comment by marco
2010-10-06 03:08:38

Dear Forexoma,
Iam about to join your programe .The question i have is ,if i am working with say a 20kGBPbank can i start trading your signals imediatly at 3% ,or should i wait till i get more experienced?

Reply to this comment
Comment by Forexoma
2010-10-06 07:20:48

Hi Marco,

You can demo trade our signals for one month and when you feel that you understand everything and you are comfortable with the signals, you can start trading with your live account.

Reply to this comment
 
 
Comment by marco
2010-10-06 07:49:06

Thankyou very much Mr Forexoma ,
i look forward to joining

Reply to this comment
 
Comment by Kingsley
2010-10-23 08:01:30

I would like your help on this Forexoma. My first rule in trading is never to risk no more than 2% of my account balance at any one time. Also, I use 1:2 risk reward ratio minimum for each trade. My problem is this:
Assuming the 2% risk is $20 on a mini account. Should I open different pairs that have different risk amount while maintaining that the total risk amount for all open trades is not more than $20 or should I open one trade at a time, with the correct number of lots for that trade, that equals to $20?

King

Reply to this comment
Comment by Forexoma
2010-10-25 00:53:30

Hi King,

You can risk 2% in one single position or you can risk the total of 2% in multiple positions at the same time. However, as all currency pairs are somehow correlated, I prefer to pick the best trade setup with one currency pair and risk 2% with it. I do not recommend having multiple positions at the same time.

Reply to this comment
Comment by Kingsley
2010-10-25 04:53:44

Thanks Forexoma

Reply to this comment
 
 
 
Comment by Richard Kagunywa
2010-10-28 13:38:39

Hi,
What is this Easy Trend visualizer? Is it good to utilize as an indicator? If so how do I source it? How about the BB MACD_VI.01?

Reply to this comment
Comment by Forexoma
2010-10-28 21:57:41

Hi Richard, I have no clue about Trend visualizer. I am sorry.

Reply to this comment
 
 
Comment by Rajan
2010-12-06 22:57:19

Hi Forexoma,

The market is either trending or ranging. In fact it is ranging more often than trending. Will your strategies identify profitable opportunities in both markets?

It was divine guidance that brought me to your site. I was actually looking for material on MACD on the net together with my wife and she is the one who spotted your site. Now she insists that she wants to subscribe saying that I have wasted enough money subscribing to many forex “gurus” who were no good, to put it politely.

I am currently going through a mentorship program but the only thing lacking is “hand holding”. Looks like you will be able to fill that gap. There is no way of checking to see if my analysis is correct. With your program I could do that and it is going to boost my confidence.

Anyway is it okay for either one of us (I or my wife) to subscribe? We both have live accounts currently but look forward to opening accounts with you. Please keep us posted on the launch date of your brokerage.

Thank you

Rajan

Reply to this comment
Comment by Forexoma
2010-12-06 23:21:15

Hi Rajan,

Thank you for your compliments. It is so kind of you.

Yes, it is enough if only one of you signs up. You can have access to the program from the same household.

Our MT4 live is already launched: http://www.forexoma.com/forexoma-brokerage/

Reply to this comment
 
 
Comment by Awotunde
2010-12-09 14:30:31

please Mr.. Vihard… why cant you help us try to say somethings about ELLIOT WAVE THEORY…. or any Article about it……. sir. we are really enjoy your article……

Reply to this comment
Comment by Forexoma
2010-12-09 17:13:34

Hi Awotunde,

Thank you for your comment.

In my Fibonacci articles I have talked about Elliot Wave the way that you can catch the strongest movement of Elliot wave. Talking about Elliot Wave Theory in detail does not help any trader because I am sure even Elliot sometimes has a hard time to find the waves properly.

Reply to this comment
 
 
Comment by ReaM
2010-12-22 15:51:23

This is the best site on the whole wide web.

May I ask, what clock time is on the graphs that you usually post? Is it New York time? I am curious about those transactions on the article “how I tripled my account in 6 days”. You went to sleep at like 5 and came back at 16 or so (if I remember right). I want to find the best time to trade.

Euro/Dollar is quite from like 20:30 - 1:00 German time.

Thanks a lot for the website and information.

Hehe, that guy asks for Elliot waves on all articles.

Reply to this comment
Comment by Forexoma
2010-12-23 13:22:30

Hi ReaM,

Thank you.

The server time was GMT+2.

Reply to this comment
 
 
Comment by James Ong
2011-01-29 05:02:23

I accidentally stumbled upon this website while looking for a MACD indicator.

This website is a gem. It has exceeded my expectation.

I sure hope more articles will come up. Maybe, someone can share some strategies that can be used when combining some of the indicators together.

Keep up the good work Forexoma.

Thanks again.

Reply to this comment
Comment by Forexoma
2011-01-29 09:43:31

Thank you James :)

Reply to this comment
 
 
Comment by saba
2011-03-19 23:07:38

dear Forexoma n gang!
i think god love u all! u r benevolent, generous n helpful!

Reply to this comment
Comment by Forexoma
2011-03-20 18:49:22

Thank you Saba.

Reply to this comment
 
 
Comment by paul
2011-06-18 09:13:28

Dear Forexoma,

When shall we ever start on that program of Depositing some cash on your account on get the 25% monthly returns.please some one should advise me as am waited for that program for sometime now.

Regards
paul

Reply to this comment
Comment by Forexoma
2011-06-18 19:28:26

Hi Paul,

We are still working on the account/money management program. It is possible that we launch it soon. However, please note that we have never guaranteed any special percentage of return.

Reply to this comment
 
 
Comment by fansi
2011-06-23 08:40:36

Respected Sir

first of all thank you for your platenum valued teaching lessons.Sir I am using Rsi and Price Breakout system.I have entry point but have no exit point. Please teacher teach me exit point on Rsi and Price Breakout System.

i want join forexoma forum but my iP has blocked. i request you Please let me join.

thank you
fansi

Reply to this comment
Comment by Forexoma
2011-06-23 12:31:40

Hi Fansi,

I will have some articles about RSI and the best entry and exit strategies.

No IP address is blocked on the forums. We just do not accept any new member for the forums for now. You can check back later.

Reply to this comment
Comment by fansi
2011-06-24 05:05:04

Hello Sir

Thanks for reply.I read all again .Sir I take position only on reversal signal.I am able to understand continual trade opportunities.please teach me how can i identify continual trade signal and which lesson should i read..?

thank you
fansi

Reply to this comment
Comment by Forexoma
2011-06-24 08:32:50

Hi Fansi,

At our trading room, we usually follow the continuation signals. You just need to wait for a trend to be started. Then you wait for a consolidation to form and then you take the position when the market breaks out of the consolidation and starts continuing the trend.

Reply to this comment
 
 
 
 
Comment by fansi
2011-06-26 13:36:02

Hello sir

Thank you..Sir for Day Trading which time-frame is Best..? and why..?

regards
fansi

Reply to this comment
Comment by Forexoma
2011-06-26 20:38:37

Hi Fansi,

15min is the best. Why? Because it works :)

Reply to this comment
 
 
Comment by fansi
2011-06-27 05:26:18

Hello Sir

I want be a Day trader.I use M5 and M15 time-frame,practice on this for Day trading.Fake signal,late entry,not good physiology,late to identify continuation and many more cause of loss.I want to join program.Is you great Live analysis Program for Day trading traders.Sir would you teach me analysis day trading based there.?

thank you
fansi

Reply to this comment
Comment by Forexoma
2011-06-27 09:38:03

Hi Fansi,

We have some videos about day trading, but we do not have day trading program anymore.

Reply to this comment
Comment by fansi
2011-07-12 04:02:19

Hi Sir

Sir I am following your golden words and practicing on breakout but fake price breakout is cause of loss.Please Teach me,How can i Avoid Fake outs Technically ..? Indicator should i use and how..?

Best Regards
fansi

Reply to this comment
 
 
 
 
Comment by fansi
2011-06-27 10:27:21

Hello sir

I will join your great Live Analysis Program and will learn you teach me.

thanks you
fansi

Reply to this comment
 
Comment by Rockwell
2011-06-28 09:45:52

Hi Sir,

I’ve been learning trading and read many of your article. Whats your recommendations for the best indicator? currently I’m using RSI, Stoch, MACD and just trying to use Alligator and Moving Average but finds both of them rather tough to master. whats your advice and once again, what indicator do you use personally?

Reply to this comment
Comment by Forexoma
2011-06-28 09:57:01

Hi Rockwell,

MACD, RSI, Bollinger Bands and candlestick are the indicators I use and recommend.

Reply to this comment
 
 
Comment by Sundrum
2011-07-13 01:13:44

Sahib!! So sorry that i am using this thread to say hi. It’s been so long since we spoke. I trust God willing everything is fine with you. Happy Trading, my friend.

Reply to this comment
Comment by Forexoma
2011-07-13 10:14:45

Hi Sundrum,

Thanks for being around :)

Reply to this comment
 
 
Comment by Mike Williams
2011-07-13 20:25:36

Dear Sir, I would very much enjoy trading thru your MT4 platform but I do not want to pay the fee’s with your methods of funding our live accounts. Is there any way to open, fund our account with out paying the 7%, I don’t mind so much your processing fee but I don’t care for the other. Can we submit a personnel check? Please let me know. Mike

Reply to this comment
Comment by Forexoma
2011-07-14 11:22:03

The best way for you is bank wire.

Reply to this comment
 
 
Comment by frank
2011-08-03 09:47:04

Hello

Thanks..there is great learning material on site for newbie traders even for professionals.Good work.
Please tell me which are the Best method and indicator to know market oversold and overbought condition you use personally.Some time face loss this cause.have used RSI.please tell me technical method to know correct market condition.

warm regards

Reply to this comment
Comment by Forexoma
2011-08-03 20:11:31

Hi Frank,

Thank you too.

A market can be known overbought or oversold on different time frames when the price moves toward a special direction for a while. There is strict rule for this. RSI and Stochastic are two indicators that determine if the market is overbought or oversold. However, a market which looks overbought can still go up and up and up for several candles and when RSI or Stochastic or both are at the overbought territory, doesn’t mean that the market will reverse definitely. It is the same when the market is oversold.

Reply to this comment
 
 
Comment by frank
2011-08-10 05:38:42

Hello

Exit to a position is very important as well Taking position on correct moment,exit with maximum profit to that trade.Any indicator,Technic can use for exit to the trade with maximum profit you use.

regards

Reply to this comment
 
Comment by Odongo Joseph Okia
2011-09-02 14:36:42

Hi Forexoma, I am a new forex trader and I have been reading your great wonderful articles about in and out of forex trading. Thank God he gave you the kindness and love to share that knowledge with us. I use the one hour time frame as an intraday trader. My problem is how do I analyze the daily time frame and weekly time frames? Because most of the time the higher time frames are in a ranging market.My second question is in the daily time frame which candlestick do I analyze the previous candle or the actual one on that day i.e of the daily candle? Please Mr. Forexoma could you please help me?
thanks
Odongo Joseph okia.

Reply to this comment
Comment by Forexoma
2011-09-02 22:34:34

Hi Odongo,

Thank you for your comment.

1. If you trade using the 1hr chart and you want to know about the direction that the weekly and daily charts are showing, the best thing is that you analyze the candlestick signals on these time frames and so you will know the direction of the market during the next incoming week.

2. The best time to analyze the daily candle is right after the daily candle close. You should always analyze the candle which is closed, not the candle which is still forming.

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