Can Forex be predicted successfully using technicals?

I would say yes. I put up two predictions on Friday based on some of my analysis. You can see them here:

http://uk.answers.yahoo.com/question/index;_ylt=AtfcMSVxD0XPDnh9CUjZomghBgx.;_ylv=3?qid=20080131133258AAV3xq7

Can’t seem to call up the GBP/USD drop of 100 pips minimum I had up – it was removed and reinstated. Oh well.

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Posted in: forex trading tools

Tags: forex, predicted, successfully, technicals, Using

This entry was posted on Sunday, February 7th, 2010 at 5:44 am and is filed under forex trading tools. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

5 Responses to “Can Forex be predicted successfully using technicals?”

SAGI February 7th, 2010 at 5:45 am

yes

bdsmslavegirly February 7th, 2010 at 6:42 am

no
people who breath maths cant do it
huge computers owned by large trading companies and dealers can do it
you cant do it

Heyvenn February 7th, 2010 at 7:34 am

Not really,too many variables.more likely to get busted than a good run.

UriKa February 7th, 2010 at 8:26 am

No, but there is a wise way to look at trading foreign currencies. http://www.homebusiness-opportunityseeker.com/learn-forex-currency-trading-online.html

dear_eggie February 7th, 2010 at 8:27 am

It depends on the definition of successfully. If you mean 100% accuracy, No ! However if the definition is 60/40 or 70/30. Maybe.

But to win in forex, you will have to consider the other set of equation relating to money management. COnsider this example.

Even if my track record is 1:1. Or 50% win and 50% loss. Which I am at the moment, base on about 50 to 80 trades per month, you still can get ahead.

Looking at win:loss ration in terms of qty is just leg 1 of the equation. Equation 2 is win/loss in $$ terms. Thus, out of 10 trades I lose 5. BUT

If every winning trade I make $3. and every losing trade I lose 1. I would still come out ahead.

Forex Trading is like boxing. Every body wants that knock out punch, but it the going on that counts. You will get punch. You will get a bleeding eye. To avoid loss is meaningless. Casue you will get loses. Its impractical to expect 100%win.

You just have to manage your loses and winnings.