If markets were scientific then we would all know the price in advance and there would be no market - it is the unpredictability of market behaviour that makes a market move.
So if markets are not moving to a scientific theory its pretty obvious that no scientific theory will work but its not all bad news you can make money which we will return to in a moment.
Popular Scientific Theories
The king of the scientific theories is Elliot Wave (and we will ignore the fact he died poor and never made any money with it) its not scientific you have to decide what to do! This means its subjective and not a scientific theory at all.
You do however get objective advice with the Fibonacci number sequence.
This says markets retrace by certain percentages and you can trade off these levels - Try it and see how quickly you get wiped out.
This theory always amuses me as it was not designed to be applied to financial markets it was devised to solve a theory to do with the copulation of rabbits in the 12th century!
There are many more but apart from the fact they don't work you have to wonder if anyone had found the key to market prediction with science, why they would sell it for a few hundred bucks on the internet!
HOW TO MAKE MONEY IN FOREX
Ok so forex markets cannot be predicted with scientific accuracy but they can be traded for profit you just have to see them for what they are an odds game.
Like the successful blackjack or poker player you simply increase your bet size when the cards are in your favour and decrease betting or don't bet at all, when their not.
Of course, just like the card player doesn't win every hand, you wont win every trade but over time you will win more than you lose and that's what trading is about.
It is no coincidence that some of the top traders ever came from the blackjack and poker tables and many made huge profits.
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