Do You Still Lose?
What Kind of Signals and Forex Trade Setups We Have for our Members and How Our Members Can Take the Advantage of Our Signals and Analysis?
As you may know, we analyze several currency pairs everyday. We post the analysis on the daily and weekly reports. On the analysis we report, we show the pathway of the market, supports, resistance and probable trade setups, stop loss and targets. One can trade and make money based on the things we plot and mention on the charts. They are absolutely clear and understandable. They are also accurate and real time.
In addition to the analysis we post for each currency pair, we also show and follow some trade setups and then email them to the members when it is time to take the position. The positions that we email, are all based on one of our systems or both of them. We can not email any trade setup that we find because we have a lot of trade setups everyday and also each trade setup has a different level of risk and profit. Some trades are safer and some are a little risky. This is also something that we mention on the reports, that risk takers can take this trade but conservative traders can wait for this and that support/resistance line to be broken and then enter. It is the traders choice to take a risky trade or wait for the safer one. Sometimes a trade that looks risky, works and hits the target and the one that looks safer and better, goes against us. As our clients are in different level of experience and knowledge, we are not able to email all kinds of the trades that we find (risky or safe) to all the members. Beginners take all of them and don’t know how to manage them and then will get into trouble. So we only email the trades that have followed our systems completely, while there are a lot of members who have already taken several positions and made a lot of profit and so, when one of the positions that we email, goes against them, they don’t care because they have already made a lot of profit through the other positions they have taken.
There are also a lot of positions we follow and we want to take but we miss them while we are waiting for the full trade setup. The reason is that we do not use any robot or EA. Our systems are absolutely visual based and have to be managed by ourselves. It is normal that we miss some good trades that we have already listed on the report and put a bleeping heart beside them, because we also need to get some sleep sometimes. But again, there are a lot of members who are located in different regions of the world and they take those positions and make profit.
There are also some members who only wait for the forex signals sent through emails and SMS to take the positions. These members will get angry and start yelling at us, when one of the positions we email, goes against them or hits the stop loss. The main reason is that they still don’t know how forex trading works and also they are not able to take the advantage of other signals and trades we have on reports. Obviously, these members are among the beginners who need more practice, before they start trading with live account and real money. They need to open a demo account, follow our analysis, take the positions we report on the charts, learn to set their stop loss and target, learn to manage and close a trade properly and … . They need to take both the signals we email and also the other trading opportunities we show on the reports, but we may not succeed to be on time enough to email them, and also all other kinds of the trade setups we report including the risky trades and safe trades. After a while (which can be different from person to person), they feel enough confident to take the positions on a live account, while it is already proven to them that the positions we report are accurate and profitable. It means, they should start live trading, only when they leave the beginners group and join the intermediate group (and hopefully the advance group after a while). This is the point!
Now the question is, if we want to report our performance, which of the positions have to be reported? Only those that we email or all of the positions we report and show on the charts. I think both should be reported because as I said there are a lot of members who take both and there are some members who can not still take care of any of them properly.
Here below, I am showing my performance during the last few hours of last Friday (15th May 2009) on of my accounts. I think only one or two of the positions I took, had not been included in the Friday daily report and the others have been reported and I took those positions based on the predictions we had on the report.
This is how you can take the advantage of the reports. You should not expect to be able to to triple your live account in one week, when you sign up for our program, specially if you are new to forex trading. Even when you are using a program like ours, that shows you the directions and signals, you need to practice and learn how to use the signals and predictions. Waiting for buy/sell emails is not the only that you should do. You should do your homework. What if one of our emails can not be delivered to your inbox?
Here is the statement screenshot from my last Friday performance:
And this is the account history screenshot (from the same account and the same day), to have a more descriptive image from the positions that hit the stop loss and targets:
Further Reading:
Before
leaving our website, please take a look at the other articles we have published.
very impresssive results.
Can there be a legend for the icons you use? Like the heart beeping etc, because new users like me do no know what it means.
Hi Dave,
Thanks
What do you mean by “legend”? Could you please explain more?
We will be happy to change it in the way that looks more useful to you.
Best regards,
Forexoma
A legend is a way to provide standard definitions for a set of graphical symbols. From http://dictionary.reference.com/browse/legend, definition #4 “a table on a map, chart, or the like, listing and expalining the symbols used.”
Commonly used on maps . . . an example legend: http://www8.garmin.com/cartography/mapSource/mapLegend.html
Thanks Keith. I didn’t know what legend means, but I couldn’t understood what Dave wanted me to do exactly. The problem is I don’t know if Dave is one of the members and is talking about the bleeping heart we place beside the currency pairs that are forming a signal or he is not a member and he just talks about the bleeping heart I talked above in this post.
Sorry
Hi Forexoma,
Sorry for causing the confusion.
I’m a member, and I meant the beeping heart and sometimes the beeping arrows.
We are new and we do not know what they stand for when we first see the chart. I didn’t know what the beeping heart meant until you mention it above.
Maybe a small legend below the table for all the analysis will make it easier for us to understand the table you took much time to prepare.
Thank you in advance.
Hi Dave, the bleeping heart means that there is a possible trade soon or that we are watching this pair very closely as there is a potential trade on the shorter time frame.
What time zone are the open and close times in?
Hi Linda, they can be in any 24 hours.
Hi,
I mean specifically. For instance, the EURUSD trade was opened at 16:00 and closed at 20:44. Which time zone does it reflect GMT, EST, CST, etc? My trading platform is set at GMT
hi, men
I can’t believe you make all that money in one day. Men you gat to share it.That is too much money. Are you a captilist? You are a very rich man then.
You make me feel i don’t know what i am doing in America. I am proud of you. Keep it up
Now i will be more serious. And my goal is to get better than you.
Hi Abdul. Making money is great - but also is keeping a very good balance in life and also enjoying the smaller things too
Keeping a good balance makes you less stressed out when trading
I always beleive that the more peace someone has in their life, the better their trades are.
Hello there,
Great stuff guys. My question is how do you use the MACD in conjunction with your analysis (support and resistance breaks). For example in EUR/USD today you say it is somethign MACD should confirm. How does the MACD confirm this? By a lower bar? By a cross down across the 0 line?
Thank you!
Thanks Jare,
If you see the today EUR-USD 4hrs screenshot that we have on the report, MACD last bar has changed the direction and color. If we are supposed to go short later, MACD should show the downward direction, otherwise we have to be careful.
hi Forexoma,
as you know that Positive US economic data has led more people(and myself) to believe that the longest U.S. recession since the Great Depression is nearing an end which put a very important question on board HOW DOES THE DOLLAR PERFORM AFTER A RECESSION?it may heading south with further weakness.which means more gains in currency markets
can we have a new article regarding this point and its effect on currencies market,should we start change our trade strategy to buy from dibs for more gains or it is a bubble and will end with more negative data!?
finally, please send your technical outlook regarding GBP/JPY & AUD/JPY , EURO/JPY after its fast rebound on today’s trade.
best regards,
kamal
Hi Kamal,
Whatever which is supposed to happen, we should be able to see it on the charts. We should see the signals on the charts. If USD is supposed to become weak, we will see the effects and signals on the charts and if it is supposed to be strong we will see the related signals too. Trading based on rumors is the worst thing that we can do. What if it goes the other way and doesn’t move in the way that people say? Remember, they were used to say that the oil price will reach $200 per barrel, but they were absolutely wrong and it never reached that level. Those who followed that news, lost a lot of money because they bought oil when it was at its highest price and then suddenly collapsed and went down to $34 per barrel.
If USD is supposed to become week, so we should see that EUR-USD, AUD-USD, NZD-USD and … break above the current resistance that they have and if it is supposed to become strong, these currency pairs should break down their support lines. It is easy for us to see it.
Amazing to see people ACTUALLY POST their trading results….. And you ARE right…. Just because you issue signals that CAN work, does not mean others will do so!
Hi Forexoma
Good site ,thanks for all your work. However as a newbie I get a bit confused on MACD signs. My Macd is different from yours just 12,26, 9. Green above zero , red if below. I am currently looking at eur/usd 4 hrs at 7pm est. I dont have MT4 On this standard MACD how do we spot macd divergence or use it to trade.
Alan (UK)
Hi Alan, we are currently doing an article on MACD, hopefully we will publish it shortly. It will be better explained in this article since there will be much more details and explanations. Hope yuo don’t mind waiting for it a little - it’s coming soon.
Hi
Ok I will look forward to article but will it help me trade ? The problem I am having is that as I mentioned above my “standard” MACD is different to your charts on the same pair same time. Mine are a diffeerent shape and size etc.
How can I get the same macd you have , do I need metatrader?
Alan
Hi Alan, yes I beleive the article will help you. Our MACD settings are 12, 26, 9 (we reset 9 to zero to eliminate moving average) - if you would like to have the exact MACD (the colors) you would need Metatrader. We actually give the indicator to our members - the ones who request it…but yes, in this case you would need to have Metatrader. You should be ok with using the simple one which you use - 12, 26, 9.
Hello
I recently tried to login, and my access was blocked, please let me know if there is a problem ,or whatever it is that I need to do in order to get this corrected!
Mike, please email me the IP address and country you are trying to log in with and I will see what the issue is.
Mike, the problem is solved. Your IP was blocked by mistake. Please restart the platform and let me know if you still have any problem.
Sorry!
Best regards,
Forexoma
Hi Forexoma,
I would like again to ask you about Fibonacci drawing and how you choose from where to start it and where to end it.
The two articles about Using of Fibonacci - posted here, being very useful, do not explain how you choose where to start and end Fibs.
In the analisys posted here, I can not see a constant rule that you apply. Sometimes the FIB are ploted from the begining to the end of the last swing before a turning in a particular pair, and other times you plot it from the begining to the end of the first swing AFTER a turning.
What I mean is, that ploting FIB, even randomly, someone could see what he wants to see. That not mean ofcourse that that would be base for correct conclusions.
My question is: what is the correct way of ploting FIB on the chart? What we should to consider when we decide where to plot the FIB?
Hi Vidosole,
You are right. I know it is a little confusing. I didn’t mention any rule about it because there is no rule. It is a little experience that gives you improves your “sixth sense” to feel where is a better place to plot it.
Generally, when there is a trend, the best place is the high and low of the range that the trend is started after its breakout. In the way that the 161.80% and 261.80% levels cover the trend.
When there is no distinguishable range, we have to plot it from the top to the bottom of the trend, while the trend is already finished and the price is moving inside the range that the trend has covered.
Hope this helps. I will try to explain it more in the reports.
Best regards,
Forexoma
Good day good people,
I’m one of them who has been trying to understand the fib and how you work with them. I would like you to continue using them, maybe you could explain shortly for each trade / some trades why you plot them like you do.
anyone?
I’m very much a beginner, can anyone help to understand how you get the levels (0, 30 , 50 , 70 ,100) in your RSI indicator chart. I do get the green and the red lines but i cannot figure out how to get the leves to appear.
thanks
B
Forexoma,
The Money that You made in A day is very unbelievable. I have never imagined to get that much money here in years and somewhere else. Both of you are really very and very fantastic. Actually, What make me admire both of you is your times sacrificed for all of us here. That is the sign of your utmost sincerity to share your trading experiences and knowledge with us here. This counts billions of dollar indeed for us. Keep doing Great Forexoma.
If you create this much money in a day, I believe that one day you will open a bank in Canada.
Thanks
Cheers
Pria
Hi Pria
yes, as you can see this is a good day. But also, like I mentioned before, you have to have a balance. If this is done every day you can go crazy - also there are times where you can get stressed out. So sometimes it’s good to trade one day and then take the next day off. I don’t think we will ever open a bank - both Forexoma and I hate banks. Especially me - since I used to work for them a while back. We don’t generally have a good feeling about banks or brokers - we do not beleive that most of them provide a fair value to their customers.
Iyaaa,,, hehehehehe, I am just kidding indeed when saying that you will open a bank in Canada
Thanks and Cheers
Pria
hello Rich man
i told my co worker how much you made on friday and he replied to me that i should be careful because i can be arrested by the police if i say that in the public.
Anyway rich man i am having a little bit of problem with the fib plotting because sometimes the gaps within the lines are very wide and sometimes the gaps are very narrow and sometimes you used only the the 0-100% and sometimes you used only the 161.8 and all that.
please i will be very happy if you can explain more because i want to very rich too.
Abdul, please read the following articles about Fibonacci:
http://www.forexoma.com/how-to-use-fibonacci-numbers-in-forex-and-stock-trading/
http://www.forexoma.com/more-about-using-fibonacci-in-forex-trading/
The reason why we posted the results here was not to show that we are rich
But to show how profitable the system can be if it is used right. Please also keep in mind that these are 10 lots - you should be looking at the PIP value which is 332 pips. If you traded .10 lots - this is approximately $332.00, most beginners trade .10 lots.
The other thing I like about that account statement is seeing the losses among the profits. By that I mean it is exactly like the article from 13 May says, “Sometimes it may even hit the stop loss and this is normal”.
I think it is very important to remember and be reminded as one of the other articles says, trading is a business (like no other) there are winning trades and losing trades.
Hi Kevin,
Yes, my stop loss becomes triggered almost everyday
Best regards,
Forexoma
hahaha…yes, it does
beleive me…I see it !!! The sad thing is that most beginners don’t understand it - this is the problem with providing alot of signals - when they get one that does not work out - we get yelled at (ALOT) 
And that’s the reason why you need to read up on the article on Money Management.
I used to be stubborn and put 50% or 100% of my trade into one trade (very very bad beginner’s habbit) hoping for a big return.
With this system now, I break up my investment into many small parts and put about 3-5% into each currency trade, and trade many pairs at the same time hence diversifying my risk in a way.
I’ve still yet to recoup my losses since I started using this system but I’m hopeful I will be.
It’s wednesday already! About time all the signals start showing on the chart and coming into our mail box hopefully! Move market move!!!!
Dear Forexoma,
regarding the fib , yesterday you point that you will try to not use fib No. in the daily analysis to make the chart more simple , I don`t agree with you , because you will not use the most important indicator in the technical analysis , i know yourself don`t agree with this but you know that no one can work without this indicator even if you will put this indicator in mind when placing the orders but it will be more useful to plot it.
i know it is difficult to satisfy all your members request but you know that this point is a principal point & very important to traders who takes there own positions so we must compare our charts indicators with yours to grantee a safe trade.
finally, would you please include GBP/AUD , EURO/AUD , AUD/JPY in your today technical analysis .
best regards,
kamal
Kamal, yes, it seems that a lot of users want the Fibs back. We will see what we can do.
Hi Forexoma,
Thanks for the video today, I was wondering how to do that, and now I know how!
It was nice to hear your voice too.
Kind regards
Kevin
Hi Kevin
You’re welcome. Finally I broke the ice and had a video with my voice. I will try to have more training videos for our members.
Best regards,
Forexoma
Hello,
I am having difficulty trying to figure out which way to place a trade. I look at your marked up chart and am unable to tell if a certain candle has in fact broken a resistance line or a support line. That being said I have been on the wrong side of many trades.
I dont have meta trader platform so that could be the problem. If you were to give a number which is a signal that breaks the line that would be very helpful. Based on your charting it is difficult to tell the pip amount even when using a ruler to get over to the money amounts.
As an example if the candle closes at 1.1126 you should go long. If the candle closes at 95.496 you should go short.
Thanks for your help.
Jim Roberts
Hello,
Do you cover long term trades, i.e. longer than a week/month and do you recommend these trades along with your daily setups?
Many Thanks
Sandy
hello Forexoma
I can’t wait to tell you this. I made 300 pips yesteday using macd and bollinger band. God bless you a million times and amillion times over. this is too much for me to handle.
You know last two weeks i almost blew my account it was all red i lost alot of money so this time after you publish the article on MACD i used it as my guide. I followed the word fresh macd and this morning all my three trades finish green. Even though i used a demo account. I believe in your teaching. Again God bless you a million times
Glad to hear that Abdul
hello Forexoma
Just to let you know i just made another 200 pips using macd and bollingder band. I enter 6 trades this week five came in sucessful one is still pending. No loss all wins. God will make you and your family live long and healthy.
I am just 6 months in forex and God led me to you and your teaching has improved my knowledge a lot.
Thank you for your latest email. I notice a name change to forexoma. I have again tried to subscribe and I am unable too?
Can you please advise when this might be possible.
Denzil.
Plas some one tell me what does lot size mean?
How much is one lot size in USD and EURo and other currencies.
Also what macd days should I use?