The October market is wild. All major currencies go up against USD. The market perception is Buy 'whatever' against USD. As mentioned earlier, FX is a game of leverage.If you are using 1:1 leveraging, chances for you to make money is big but the return is very small. Most investors will look else where to get a better return.
To make money in Forex, I apply K.I.S.S concept. "Keep in simple and silly". There are few types of traders which the system they use conflict each other, every systems is applicable in different environments.
To spot opportunities in Forex market, I also very emphasis on technical analysis but only use 1-2 indicators. Too many indicators will make your brain malfunction and thinking too much. I always ask my clients what level of risk they are willing to take. If they have small account only, I will using a very 'conservative' method to accumulate the fund. The negative side of the method is you will miss a 'big win'. The positive site is the account will grow slowly.
For a clients with big fund, I tend to use 2 accounts to leverage each other. One for a higher return and the second one for a 'steady and smaller' return. Do I make mistakes? Yes, I make mistakes, no trader is perfect. Once I make major mistakes, I will stop trading for a while.
I like to use time frame to leverage my accounts once mistakes are made. It may works for or against me. If I notice it against me, I will cut loses. Most of my prospects surprise to see big loses I cut. In the end of the day, I will tell them "Judge me in every 3 months, not every 3 weeks, 3 days, 3 hours, 3 minutes or *3 seconds.
*If opportunities come, 3 seconds can make money for you in FX market, this type of players called "Big Momentum" speculators. It always works on the first Friday of each month, 830am EST.
