Forex Trading Systems
Forex Trading Systems - Scientific Theories for Predicting
Price by Monica Hendrix
Human nature is constant and humans determine the price in
any market, therefore if you know the law of human nature
you have a scientific theory you can apply, to predict
prices and make big profits. Let's look at some forex
trading systems based on scientific movement.
There are numerous theories that are said to be scientific
and three of the most common are Fibonacci, Elliot Wave and
WD Gann. They all claim to be able to predict forex prices
in advance but how successful are they?
The problem with these theories is they are all flawed and
none of the above made any profits with the theories and
they developed them! - So why don't they work?
Because while human nature is constant, it's not predictable
with scientific accuracy.
Humans are not creatures of logic - but creatures of emotion
and that means there is no formula that can be applied to
this vast, diverse group that will work.
This is actually pretty obvious as if there were a
scientific theory of market movement that worked all the
time, we would all know the price in advance and there would
be no market as of course we would all know the price in
advance!
Prices actually move because we are unpredictable and this
is the basis of any free market.
A BETTER WAY TO MAKE FOREX PROFITS
If you try and predict forex prices ( not just with a
scientific theory) you are destined to lose anyway because
prediction is really another word for hoping and guessing
and that won't get you very far in life and especially not
in forex trading!
You can't predict so don't even try, as your predictions
will end up being as accurate as your horoscope.
A better way to trade is to hit high odds set ups, in fact -
it's the only way to trade.
You are playing a game of odds not certainties - but that
doesn't mean you can't make big profits, you can and the
rewards are enormous.
Keep in mind the following fact when you trade forex:
All prices are pushed to far up or down by human emotion and
then return to fair value. If you can spot and act on these
price spikes, you can make huge profits and there easy to
spot on a forex chart. You simply wait until the price
spikes and then look for a waning of momentum and hit your
trading signal - in the opposite direction.
This happens time and time again in forex markets (or any
market for that matter), these price spikes fade and if you
can catch them you have great profit potential with low
risk.
Once a trend does develop you trade with it - but there are
always price spikes along the way (within trends) for swing
trading or (at the end of trends) for long term trend
followers.
Forex trading has not changed over the years.
Despite the vast amount of progress we have made in science
in other areas of life forex trading remains an odds game
where the appliance of science won't help you - but simply
trading the odds will and can lead you to currency trading
success.
About the Author
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