Forex Day Trading – The Dangers Of Curve Fitting

Forex Auto Money is one of the most used trading signal generating providers in the world today. They have thousands of traders who subscribe to their service and try it out.

Their Ebooks don’t give you precious information on market analysis and trading. It only contains general info which you can get for free on the internet. Their trading robots or automated trading programs are selling at average $200 each, with huge promise from the scammy vendors: “Win 95% of all trades – Generate $100,000 per month” Do they think it’s so easy to be a winner in forex market? If their robots can generate huge amount of money consistently why they sell the robots with relatively cheap price?

Trading on intraday charts requires some practice as these are fast moving timeframes. You will get a lot of signals on these intraday charts. The trick lies in filtering out false signals using confluence. You see on the lower timeframes, there is more noise as compared to on the higher timeframes. Noise means there will be false best trading signals for BitMEX and Bitcoin.

What is Momentum 3? Momentum three is what moves the market. It is directional in that when it moves it moves with force in one direction whether it is 10 pips, 20 pips, 30 pips or more. When it’s over it’s over. Momentum 3 can pause and re-start, it can even pause and reverse if the initial momentum was in the wrong direction. Momentum 3 is most often found at specific times and which can be statistically determined. Momentum 3 is not volatility. Momentum 3 is when the market has decided on a direction and moves forcefully. Think of a whirlpool as volatility and the river coming out of the whirlpool as Momentum 3. Knowing where the whirlpool stops and river starts is possible.

It is quite amazing that most of the time you need not even be present during the transaction at all. But really, how could you not be there to watch it do its thing? I love it! It’s more than just the money to me. It’s the thrill!

In a famous trading experiment trader Richard Dennis, taught a group of ordinary people to trade in 2 weeks and they went on to make hundreds of millions of dollars. This is the perfect example of working smart and getting the right education and winning quickly.

Now you may check your EA connection. In case, in the right top corner you see little smiling face – that means that your individual Forex trading robot has just started its work.

Scalping entails quickly entering and exiting the market and grabbing a few pips each time you do so. Each scalp trade on average makes 10-20 pips. There are day trading who only focus on scalping as the trade does not last more than 1-2 hours in most cases. It can even become profitable within minutes!

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Forex Day Trading – The Dangers Of Curve Fitting

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