I seriously think I can make a fortune in forex trading?

Well i have been learning about stock trading for 6 years and have developed a good system. Forex is a little different. I started last january. i blew up within weeks because i was uing 400:1 leverage. i also wasent cutting my losses. Anyway through some experience i think i have it a ltitle figured out. What i have to do is wait patiently for a trend to form and act on it. I have about 500 in my account right now trading 50:1.. i cut my loses at 20 pips and let my profits run. until there is a reversal. ii incorperate the fibonacci retracement signals amounst a few ocilattors/indicators. I also keep an eye out on the news that would affect a currency pair. I have also read a few forex traders turning a couple grand into 10s of thousands their first year. I honestly believe this can be me.. can any experienced forex trader advise me?
uhh its actually a minus sum gamethe winner does not make all the money with slippage and commissions look up alexander elder.

Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, even if you learn everything about forex trading indicators the market is just too random and unless risk is controlled, over time your account will slowly get wiped out, regardless how good a “trader” you think you are.

This question was about forex trading indicators and there have been some pretty good answers that should help in your trading, and especially in relation to forex trading indicators, the answer has been posted in the categories listed below:

need a opinion on a forex strategy?

i need an opinion on a forex strategy i use. here is what i use my time frame is the daily charts and i only trade the majors i use the following indicators Heiken-Ashi, and a 5 day on the open & 6 day on the close EMA plus a MACD and the ADX indicators on the bottom and i trade the crossovers is there anyone here that trades the forex with a similar setup what im looking for is just some opinions from some more experienced forex traders ive been back testing this for a couple of months and seems to be profitable but maybe i might just be missing something a more knowledgeable forex trader might be able to help me tweak it some more i realize there is no holy grail but any opinions would be greatly appreciated thank you for your time ive traded stocks for 30 years but the forex is a whole new ballgame

Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, even if you learn everything about forex trading indicators the market is just too random and unless risk is controlled, over time your account will slowly get wiped out, regardless how good a “trader” you think you are.

This question was about forex trading indicators and there have been some pretty good answers that should help in your trading, and especially in relation to forex trading indicators, the answer has been posted in the categories listed below:

If you have a profitable FOREX stratergy, can you please write it down in detail (including the type of….?

…. indicators used, typical stop loss level, typical profit limit level, time frame for trade, etc..) I don’t care if you trade on the long term or short. I JUST NEED SOME HELP, and there is just so much GARBAGE on the net claiming to Be winning strategies, but I am already too old, and I don’t have the time to waste trying to figure out what works. I need to go DIRECTLY to what works!

I know that no strategy is garunteed, but can you tell me what is working for you!

THANKS!!

Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, even if you learn everything about forex trading indicators the market is just too random and unless risk is controlled, over time your account will slowly get wiped out, regardless how good a “trader” you think you are.

This question was about forex trading indicators and there have been some pretty good answers that should help in your trading, and especially in relation to forex trading indicators, the answer has been posted in the categories listed below:

Can anyone explain the ATR indicator in Forex?

If it is say 50 does that mean the trading range is 50 pips?

Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, even if you learn everything about forex trading indicators the market is just too random and unless risk is controlled, over time your account will slowly get wiped out, regardless how good a “trader” you think you are.

This question was about forex trading indicators and there have been some pretty good answers that should help in your trading, and especially in relation to forex trading indicators, the answer has been posted in the categories listed below:

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