Wednesday, August 31, 2011

Learn to PLAY Forex in 15 minutes

Truly understand Forex may be as tough as understanding world economy.  But 'playing' forex is NOT any tougher than any number game.  I have stopped forex for a couple of years now, recently I got some spare time ( Happy Raya Merdeka Day to fellow Malaysian !) so I re-learn and start to play again in 15 minutes, perhaps you can try too.

  1. Register an account with Oanda  (Choose Practice account)

  2. Login to Oanda

  3. Create sub account, enable use with MetaTrader under Advance Option

  4. Download MetaTrader, install it.

  1. Run MetaTrader, Login using account number, not the user name

  2. Launch Strategy Tester under View menu ( CTRL-R )

  3. enter basic parameters and click Start

  4. view Report to see if this method can earn money

  5. Modify Expert Properties until satisfy with result

  6. Da da !  I have a sure win strategy in Forex !!

Ok, the last statement is a lie.  But there are 'teachers' collecting $3,000++ for a course just like this thao.

All that 'proves' is that Moving Average with those particular parameters can earn me a hundred or two bucks from 30th to 31st August 2011.  It implies almost nothing at all how it can preform before and after that.

Important but boring notes
  • I choose Oanda because almost 48% of its users are earning while others only have 20-30% success rate.  Oanda is also having the largest users base.

  • Investing with real money in Forex is the beginning of the end even for some billionaires.  It is almost a Guarantee place to die if you don't truly understand forex yet.  So play it like a game all you want, but never ever invest in Forex just because this blog makes it seems so simple.

  • The true message MalPF wants to share is that you must use EA if you truly serious want to invest in Forex.

  • Can't even get passed signing up, download and login with Oanda ?  Just click the LIVE HELP button on their web page, someone will chat and help you.

  • You are still clueless how to 'play' forex ?  Good, you shouldn't then.

Alright, here are some screen shots ... 

1. Register Oanda

2. Login

 3. Create sub account, enable MetaTrader


4. 1.  Download and login MetaTrader

2. Open Strategy Tester window ( usually at the bottom )

3. Enter parameters, click Start to analyse

4. View Report to see if it is satisfactory

5.  if not, tune 'Expert Properties' until happy.

6.  If still need helps, pay me $3,000 and I will teach you in person in Starbuick. *joke*

When you have found your jewel guarantee to win strategy, its time to enable the automated trading ( on a practice account ), leave it there and then check the result later.