Hello fellow members,

I have been looking around the website and so far I'm fairly impressed with the tools that I can use to track my performance, as well as share it with others. So I've taken the leap and decided to join.

I would like to do two things now;

1) Introduce myself: My name is Tate, I have been looking and playing with trading for a while now - I hold a full time job but love to experiment with ways I can generate additional income.

2) Ask a question: I have been looking at Manual and Auto Trading (It's really two questions). People claim that it is indeed possible to trade throughout the day, in the morning, breaks and when you've finished for the day and still turn a profit. Is this really the case? It seems that attention is required 100% and I just can't see how it is doable. Now with Auto Trading, I have seen loads of things on people who have made a living from Expert Advisor's - but then I see lots of people who have lost everything using Expert Advisor's. Is there really a EA to generate a good solid income?

AT this moment in time, I am not looking to commit real money, I guess I am still in the experimenting stages. I have bought quite a few EAs, not because I want to be a millionaire over night, but because I am intrigued by how they work and I want to play with them to see if I can get them to generate an income. (Which is why I'm here - I love the tracking feature ).

Thanks for reading - hope you can shed some light on the two questions.

Tate

Thanks for the detailed reply.

I agree to the 'tedious and mind numbing' bit, for some reason that's the kind of thing that I like to partake in :). It required a lot of skill and practice as well as understanding. All of which I am looking to learn. I've gone through baby pips which has awnsered a lot but I think I need to double read it to get a proper grasp of everything as it's a lot to take in.

Many Thanks,
Tate

Trading does not take forever to figure out. Just like any profession you have to been properly trained by a successful professional currency specialist that has years of experience. Its overcoming greed and fear that is difficult and that is something unfortunately that cannot be taught.

   dlathrop posted:
   
   forexboy posted:
   Trading does not take forever to figure out. Just like any profession you have to been properly trained by a successful professional currency specialist that has years of experience. Its overcoming greed and fear that is difficult and that is something unfortunately that cannot be taught.


I agree. I don't consider trading to be extremely difficult... It's discipline and emotions that are the main stumbling blocks for most people.


You wouldn't believe how true this is. The system I'm using can be taught to an 8 year old. Its the discipline and emotions that are hard to master. The fear of loss and the euphoria of a win can be so overwhelming. The worst part is that it creeps up on you, and most people don't realize till its too late !

I tested about 40 Expert Advisors, but only one of them survived in the long run... but with huge drawdowns, so I would not recommend it. From my point of view, you should focus on manual trading. If you have not much time because of your fulltime job, you could try trading daily and weekly timeframes.