ok, I originally posted this on a thread for a scam system, but I thought I'd share it on the rookie forum. The problem with this site is that there are so many people who have absolutely no clue what they are doing, and a new system thread crops up before you can say 'money management'. Hopefully this may help some of you who are new to this to avoid being plunged into pit of ignorance, which many of the readers of this forum are in.
There you go Mrsmarple, you have hit the nail on the head. The whole thing is a pile of nonsense...
You should have asked yourself the simple question: WHY DOES PRICE MOVE?
After a moment or two,it would become apparent that the field of global economics is far more complicated than a stupid 'centre of gravity indicator'. What is that meant to mean anyway? Its just a form fitting curve based on a mathematical formula on past price. Looking back, the gullible may think that it is a great system, and since the gullible are never the ones who are likely to learn anything for themselves, they hand over money to that crook Oan. Honestly, if it was possible to press criminal charges against crooks like him, I would be the first to advocate such an undertaking.
This forum is so full of nonsense, particularly when it comes to trading systems. Complete guesswork. The number of people who have no idea whatsoever as to how the markets actually work is dumbfounding. My advice: read a few books about global markets first. Understand structure, who the main movers are: the practices they engage in: hedging against future price movements, arbitrage etc....
Understand what the influences are: news, rumours, hype, supply and demand (when arbitrage is not happening).
Look into currency correlations, and try to find a way of gauging general market sentiment.
This is not the stock market: currencies are driven by more than technicals.
There you go Mrsmarple, you have hit the nail on the head. The whole thing is a pile of nonsense...
You should have asked yourself the simple question: WHY DOES PRICE MOVE?
After a moment or two,it would become apparent that the field of global economics is far more complicated than a stupid 'centre of gravity indicator'. What is that meant to mean anyway? Its just a form fitting curve based on a mathematical formula on past price. Looking back, the gullible may think that it is a great system, and since the gullible are never the ones who are likely to learn anything for themselves, they hand over money to that crook Oan. Honestly, if it was possible to press criminal charges against crooks like him, I would be the first to advocate such an undertaking.
This forum is so full of nonsense, particularly when it comes to trading systems. Complete guesswork. The number of people who have no idea whatsoever as to how the markets actually work is dumbfounding. My advice: read a few books about global markets first. Understand structure, who the main movers are: the practices they engage in: hedging against future price movements, arbitrage etc....
Understand what the influences are: news, rumours, hype, supply and demand (when arbitrage is not happening).
Look into currency correlations, and try to find a way of gauging general market sentiment.
This is not the stock market: currencies are driven by more than technicals.