What is the most effective method to trade in the currency market and be profitable most of the time.?

Answer 1

An academic study found that the assumption that currency prices follow a random walk is a better predictor than any of the most used models based on macroeconomic data. Later studies (by my PhD Thesis advisor) show that there is some predictability in prices if you have information on order flow.

Bottom line -- unless you are a major investment bank with information on your customer's FX demand, you are better off flipping a coin to predict direction than using some model to project where prices are going.

Answer 2

to that end of the revolving global trading device and of distinct time zones, the overseas money marketplace is a 24/7 procedure. overseas money is the most important marketplace for investors and speculators the position fortunes will be, and are, made daily. Over $3 trillion on a daily basis are traded. overseas money stands for forex and that is all about digital overseas currencies substitute performed through operators from global. the numerous markets for the overseas money are ny, London, Tokyo and Sydney. Codes for overseas money pairs. Currencies are said through 3 letter codes. for instance, america dollar is said through USD, the British pound through GBP, the euro through EUR etc. A go is the mixture of two currencies that are being traded one for the different. for instance, GBPUSD exhibits one British pound to the variety of usa funds. So GBP=a million.6604 signifies that one British pound is an same as $a million.6604 usa funds. because the speed transformations, the automatic reveal is shown in ambitious to prepare a shift in charges. go actually have 'nicknames'= the USD/CAD is likewise wide-spread because the 'Loonie', USD/CHF is the 'Swissie' etc. charges are displayed in 5 digit numbers; for instance, a million.6604. words Ask is the speed requested through a company. Bid is the provide from a shopper. spread is the version between the ask and the bid. Pip is the smallest unit wherein a overseas money fee can replace, for instance, a replace from a million.6766 to at least a million.6769 will be a three pip replace (6 to 9). There are a number of reward of creating use of overseas money trading for investors and speculators. the overseas money marketplace is open 24 hours an afternoon, 7 days a week via the indisputable fact that is a international marketplace. in case you're in simple terms getting all started i'd fairly propose the source less than that is one hundred%

Answer 3

Different folks are going to give you different answers.

I've run across some good info (and a few guides) at http://forex-trading.bluecollarnews.com

Your best bet will probably be to do research on the various methods then experiment till you find the one (or a combination) that works well for you.

Good luck to ya!

Answer 4

Generally most reliable method is break of a support/resistance level..Althogh trade only when other indicators such as MACD etc. are also confirming..

Get more info at -

http://the-forex-trading.blogspot.com

Answer 5

see live first on demo .. upon ur satisfaction then, come with me to the bank .. we do it legally and professionally .. where $$$ is concerned, its not a joke or a game neither! ..
nothing much could tell u here (practical).

Answer 6

That would be like asking how to kill the President of the United States of America without being arrested or killed and after that kill the President of Japan without being arrested or killed and after that kill the President of Germany without being arrested or killed and after that kill the President of China without being arrested or killed.

Top 3 Answerer in Business & Finance. (Vote for me)

Answer 7

The answer, Grasshopper, is within you.