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Staff

Member Since Jul 31, 2009  1359 posts Ethan (Staff) Jul 31 2009 at 16:59
This is the Experienced Traders topic discussion.
Here is the place to share your expertise in the forex market.

shehnaz786

Member Since Mar 13, 2014  6 posts Sayed Iqbal Ahmed Kadiri (shehnaz786) Apr 20 2014 at 18:12
Hi there

Just got off the Tenkofx competition. Can someone clarify the position granted to the 10th position contestant.

How is in that position with a negative balance.

I am a manual scalper and i have employed the same trading style in the competition.

 

sensible trading and live to fight another day.
bungtobing

Member Since Apr 22, 2014  40 posts Bung Tobing (bungtobing) Apr 22 2014 at 18:29
hello.. do you have advices for me?
i am new in forex market

adrian8891

Member Since Jun 03, 2010  696 posts Adrian Matusiak (adrian8891) Apr 23 2014 at 15:47
bungtobing posted:
hello.. do you have advices for me?
i am new in forex market


What do You wish to know?

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ForexAssistant

Member Since Jun 28, 2011  465 posts Bob LLewellyn (ForexAssistant) Apr 24 2014 at 01:53
@bungtobing

I have taught one or two new traders in the past, and I can make life a little easier on you. First learn systemic (a branch of fundamental trading) before going on to the various technical trading system. Fundamentals give you a good solid background so when you have a snafu with your technical trading, you will have some idea of what you can do to protect your account.

Unfortunately, there is not a lot of books written on fundamentals for the forex market so I wrote a text book but I can't give you a copy because I gave it to Mary to sell or what ever she wants to do with it. It's on the thesafeinvestor.com and there is a free book to help you get started, same place. But I bet there are some other books on fundamentals still available, maybe some of the others know some of them.

The problem is that the forex market is only 14 years old. When it started, no one knew anything, we had to find out ourselves. So the training stuff is a little scarce but that shouldn't keep you from looking. Read everything before you start to demo trade, then demo until you know exactly what you are doing.

If you ask yourself the question, am I ready to go live? The answer is, no. When you ask yourself why are you wasting time with these demo's you already know everything and nothing new has happened in a month and this is just plain boring, now you may be ready to go live.

More free info at forex-assistant.com Nothing too buy there so take your time and do some reading. Also check out the library on ThesafeInvestor.com Except for 'Robotic Investing' I think just about everything else is free, but don't hold me to that, I just can't remember. OK good luck, now go start reading.

Bob

where research touches lives.
bungtobing

Member Since Apr 22, 2014  40 posts Bung Tobing (bungtobing) May 01 2014 at 09:07
ForexAssistant posted:
@bungtobing

I have taught one or two new traders in the past, and I can make life a little easier on you. First learn systemic (a branch of fundamental trading) before going on to the various technical trading system. Fundamentals give you a good solid background so when you have a snafu with your technical trading, you will have some idea of what you can do to protect your account.

Unfortunately, there is not a lot of books written on fundamentals for the forex market so I wrote a text book but I can't give you a copy because I gave it to Mary to sell or what ever she wants to do with it. It's on the thesafeinvestor.com and there is a free book to help you get started, same place. But I bet there are some other books on fundamentals still available, maybe some of the others know some of them.

The problem is that the forex market is only 14 years old. When it started, no one knew anything, we had to find out ourselves. So the training stuff is a little scarce but that shouldn't keep you from looking. Read everything before you start to demo trade, then demo until you know exactly what you are doing.

If you ask yourself the question, am I ready to go live? The answer is, no. When you ask yourself why are you wasting time with these demo's you already know everything and nothing new has happened in a month and this is just plain boring, now you may be ready to go live.

More free info at forex-assistant.com Nothing too buy there so take your time and do some reading. Also check out the library on ThesafeInvestor.com Except for 'Robotic Investing' I think just about everything else is free, but don't hold me to that, I just can't remember. OK good luck, now go start reading.

Bob


thank you Bob, its really usefull for me.

CrazyTrader

Member Since Nov 21, 2011  1670 posts CrazyTrader (CrazyTrader) May 01 2014 at 09:38
ForexAssistant posted:
@bungtobing

The problem is that the forex market is only 14 years old.

Bob


This is absolutely wrong!

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bungtobing

Member Since Apr 22, 2014  40 posts Bung Tobing (bungtobing) May 01 2014 at 10:42
CrazyTrader posted:
ForexAssistant posted:
@bungtobing

The problem is that the forex market is only 14 years old.

Bob


This is absolutely wrong!


hi there, thanks for correction.

ForexAssistant

Member Since Jun 28, 2011  465 posts Bob LLewellyn (ForexAssistant) May 01 2014 at 13:03
The problem here is a definition of terms. Certainly the forex as a conduit of currency began when Nixon took the world off of the fixed rate established after WW2. But that was only for big volume traders, banks and stuff.

Oanda was the first forex broker to accept small traders in 2001, so though the new forex spot market existed on paper as an authorization of congress, (US) it didn't really take form until there was a broker to offer it. Up until that time the forex market (Foreign Exchange at that time) was largely in the futures market. Way different animal. And in 2001, the minimum to open an account was something like $250,000. Prior to that small time traders (Non sophisticated traders) were not allowed to trade.

So in a sense, the forex spot market did exist for some, prior to 2001 but not for us. Unless of course, you were a bank.

Bob

where research touches lives.
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