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How to increase trading skills ?

Rustan mallari (tankbeta)
Mar 02 2015 at 14:47
171 Posts
BenNathanFTA posted:
Forget patterns, forget 'price action' , martingale... all that absolute nonsense, and just learn about fundamentals - once you learn them and see HOW they affect the market then start looking for technical ways to trade those fundamental moves...

Basically learn to INVEST and not GAMBLE....

Ever since I started trading on this principle I got to make a full time living from FX (from Fund Managing and Mentoring)

Good luck with it all.....

Oh and if you see a big move dont start looking at various patterns and S&R levels and start looking at stuff like R1 M1 etc etc - just look on Bloomberg or a news feed - youll start to see what is actually moving the markets and get a feel for investing...


so we listen to manipulated news? and follow all their advices?

never had success with technical trading thats why its nonsense?

Plan your trades and trade your plans.
rob559
Mar 02 2015 at 14:49
1916 Posts
tankbeta posted:
BenNathanFTA posted:
Forget patterns, forget 'price action' , martingale... all that absolute nonsense, and just learn about fundamentals - once you learn them and see HOW they affect the market then start looking for technical ways to trade those fundamental moves...

Basically learn to INVEST and not GAMBLE....

Ever since I started trading on this principle I got to make a full time living from FX (from Fund Managing and Mentoring)

Good luck with it all.....

Oh and if you see a big move dont start looking at various patterns and S&R levels and start looking at stuff like R1 M1 etc etc - just look on Bloomberg or a news feed - youll start to see what is actually moving the markets and get a feel for investing...


so we listen to manipulated news? and follow all their advices?

never had success with technical trading thats why its nonsense?


sound advice thanks

davidcraigson
Mar 02 2015 at 20:46
67 Posts
Read. A LOT.
Practice, and learn from OTHERS mistakes too!

Ben Nathan (BenNathanFX)
Mar 03 2015 at 09:56
137 Posts
Very good advice there!

I would suggest you read 'Trading in the Zone' - its an essential read for new traders.
Also - dont go in thinking you can make a living from a 20k account safely....

Something that most people wont tell you is that to make an actual living from trading safely with sustainable risk etc you need at least $100,000 in your account - if you cant get that, you may want to focus on just getting consistent and building a track record, even on a small account and from there getting into fund management....

One more read to suggest - and this one is how to actually get from where you are to making a living from fx is 'How to Trade a Currency Fund' by Jarratt Davis......


HOLY GRAIL: Fundamental Analysis to chose your pairs/direction, Technical Entry/SL/TP for consistent Management of those decisions
davidcraigson
Mar 03 2015 at 19:24
67 Posts
I second the comment abou the Jarratt Davis book.

PhamTranAssoc
Mar 04 2015 at 07:42
18 Posts
Jarratt Davis is the man!

PhamTranandAssociates@
Bob LLewellyn (ForexAssistant)
Mar 09 2015 at 15:15
465 Posts
All the advice given here is all about technical trading. There are other systems, but those that learned one way will always believe their way is the only way and will always recruit others to that method. Practice, learn from others, lose money while learning....

But let me ask, do you need to learn how to fix a car to drive one? Could you not drive to work or the store every day of your life without ever knowing how the car works? Systemic trading was designed for use by computers, a human could never trade that way himself without the computer. If you only wanted a trading system that just made money and couldn't give a rats ass about the prestige of being an experienced trader, why would you put in those 10,000 hours instead of just making money from the start?

When all the advice is to go right, then go left. Remember that all the technical trading advice came from a trading system that produces 80% failures. There are some traders that have paid the price and are really good at making money the hard way but they are only human still. What happens to your account if the trader that runs the PAMN account dies? What happens to your income if you get sick and can't trade the market? If you spend 10,000 hours learning a system, how do you diversify?

Never send a human to do a robots job.
What happens if the program dies? Get another copy. What if the operator gets sick and can't trade? The robot will handle it. How do you diversify? use multiple programs that differ from each other in some respect.

Professional athletes train every day for years to be able to compete with the superstars from other countries and be the best, but not one of those athletes can out run a simple bicycle much less a motorized one.

So the answer to your question comes down to determining what you want. Do you want to see yourself on the winners platform with a gold medal hung around your neck or are you interested only in the gold in your pocket? Technical trading was the past, systemic trading is the future, and today is the first day of the rest of your life. Your decisions today determine your tomorrows. Good luck with whatever you decide.

Bob


where research touches lives.
Diogo (Clogo)
Sep 17 2015 at 12:37
7 Posts
I could answer simply, trade and increase your skills :) Try to learn lessons from mistakes and not repeat them. I didn't hire any tutors or masters etc. And I'm sure that i saved lots of my money by this.Trading is not in your blood, but in your mind, so you can improve it.

Now or never, all or nothing
Rihan
RSTrading
Sep 17 2015 at 14:58
385 Posts
Forex is influenced by 3 things : Technical, fundamental and trader sentiment. To succeed long term, you have to incorporate all three aspects. You cannot rely on one only.

The school of pipsology at babypips helped me increase trading skills.

victoriajensen
Sep 19 2015 at 11:05
1117 Posts
Reading a lot and then practicing what you've read. And, of course, learning from the mistakes you make along the way.

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