Beginners - Kill your emotions

mlawson71 posted:

BaldoN posted:
Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)

True, some things one can only learn on their own, but still, it’s good to also learn from other people who have gone down the same path.

We can learn a lot from other people, good to keep an open mind, just question everything especially in this field.

mlawson71 posted:

BaldoN posted:
Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)

True, some things one can only learn on their own, but still, it’s good to also learn from other people who have gone down the same path.

That, my friend, is called wisdom. As a matter of course, the trader lives his experience, which is what he has done with the experience. But from the bad, from the REALLY WRONG you can learn from another :)
This is less complicated ...


It is better to study the trajectory of different traders and learn from them what we should not do than to learn it on our own with our own money.

mario123 posted:

mlawson71 posted:

BaldoN posted:
Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)

True, some things one can only learn on their own, but still, it’s good to also learn from other people who have gone down the same path.

That, my friend, is called wisdom. As a matter of course, the trader lives his experience, which is what he has done with the experience. But from the bad, from the REALLY WRONG you can learn from another :)
This is less complicated ...


It is better to study the trajectory of different traders and learn from them what we should not do than to learn it on our own with our own money.

I call it other people’s knowledge, but the point is the same.

mario123 posted:

mlawson71 posted:

BaldoN posted:
Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)

True, some things one can only learn on their own, but still, it’s good to also learn from other people who have gone down the same path.

That, my friend, is called wisdom. As a matter of course, the trader lives his experience, which is what he has done with the experience. But from the bad, from the REALLY WRONG you can learn from another :)
This is less complicated ...


It is better to study the trajectory of different traders and learn from them what we should not do than to learn it on our own with our own money.

But how do you know that what others say is really true? … of course you have to search for the proof. Agree that you have to be open minded, but not to believe in everything you read. Caution and research will help you here 😄

Hello,
It should not be 100% following as a blind of course:)
Everybody can think and judge whether something said is true or not, but still may worth to spare few moments and to get whether this will somehow works or fit to you or not
Cheers :)

TiffanyK posted:

mario123 posted:

mlawson71 posted:

BaldoN posted:
Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)

True, some things one can only learn on their own, but still, it’s good to also learn from other people who have gone down the same path.

That, my friend, is called wisdom. As a matter of course, the trader lives his experience, which is what he has done with the experience. But from the bad, from the REALLY WRONG you can learn from another :)
This is less complicated ...


It is better to study the trajectory of different traders and learn from them what we should not do than to learn it on our own with our own money.

But how do you know that what others say is really true? … of course you have to search for the proof. Agree that you have to be open minded, but not to believe in everything you read. Caution and research will help you here 😄

I did a lot of research when I first started ,if you can afford it get professional training.

TiffanyK posted:

But how do you know that what others say is really true? … of course you have to search for the proof. Agree that you have to be open minded, but not to believe in everything you read. Caution and research will help you here 😄

Very true. What I say may not have worked for me, but maybe you could pull it off with success.

I actually tried that... went through a bunch of online trading tutorials and followed what they said I should do and should not do, it didn't go well. I decided to try trading with an opposite view... let me see how it goes if I go against what they say (not using stops, not sticking to 2%, etc.) and I achieved my first profitable withdrawal. As time has gone by I have tried different approaches, some successfully, others utter disaster, and so you learn what works for you as an individual.

My advice: Bend the rules, make your own and see what works and what doesn't, follow advice and then try going against it. The learning curve is drastically reduced this way over trying to make advice work, not all traders think the same or handle situations the same, they all will remember a piece of advice that is valid for all traders, but only through their own experience.

The best training I got was sitting beside professional traders watching them do live trades, that's when you see if something works or not ,for any online courses you need to see proven results or proof that your provider is ex bank/intuitional trader.

I agree. Those online courses are so “dry”. They only help you to understand any terminology or to explain a feature. With few exceptions – no online course can actually teach you how to trade or develop a good strategy (not accept an already fixed one). So yes – watching, following professional traders can be the best example.

TiffanyK posted:
I agree. Those online courses are so “dry”. They only help you to understand any terminology or to explain a feature. With few exceptions – no online course can actually teach you how to trade or develop a good strategy (not accept an already fixed one). So yes – watching, following professional traders can be the best example.

Hello,
I could also add: 'Not just to watch, but to 'steal' with eyes the way they trade', because I believe they will not share all their findings and knowledge's' :)

TiffanyK posted:
I agree. Those online courses are so “dry”. They only help you to understand any terminology or to explain a feature. With few exceptions – no online course can actually teach you how to trade or develop a good strategy (not accept an already fixed one). So yes – watching, following professional traders can be the best example.

There is nothing like free lunch. So free courses wont teach you enough to trade. Paid courses make money for the seller and eventually MIGHT learn you something.

BaldoN posted:

TiffanyK posted:
I agree. Those online courses are so “dry”. They only help you to understand any terminology or to explain a feature. With few exceptions – no online course can actually teach you how to trade or develop a good strategy (not accept an already fixed one). So yes – watching, following professional traders can be the best example.

Hello,
I could also add: 'Not just to watch, but to 'steal' with eyes the way they trade', because I believe they will not share all their findings and knowledge's' :)

Something else ,when you do get good training you have to look at thousands of charts until it becomes almost instinctual ,like David Beckham curving a ball into the net, I bet he cant explain it in words,just hours of practice and perfecting.

I agree. The best way - the only way, if you ask me - to learn Forex (as well as anything else, really) is to watch the professionals do it, try to imititate them to the best of your ability and practice, practice, practice. The more you practice, the easier it will become.

BaldoN posted:

TiffanyK posted:
I agree. Those online courses are so “dry”. They only help you to understand any terminology or to explain a feature. With few exceptions – no online course can actually teach you how to trade or develop a good strategy (not accept an already fixed one). So yes – watching, following professional traders can be the best example.

Hello,
I could also add: 'Not just to watch, but to 'steal' with eyes the way they trade', because I believe they will not share all their findings and knowledge's' :)

Yes, having a friend to show you some of the techniques live is definitely good option. I agree with vontogr about the free vs paid courses.

When it comes to people selling me things like courses and EAs, I always wonder why they don't just use the knowledge they have or the robots they have to make a lot more money off Forex trading than they would off selling them.

mlawson71 posted:
When it comes to people selling me things like courses and EAs, I always wonder why they don't just use the knowledge they have or the robots they have to make a lot more money off Forex trading than they would off selling them.

If such a question rised about any product that probably means it's a SCAM. People believe that it will make easy money for them because they like it. That is why 'scam industry' is growing so rapidly.

2 cents from experience..

I just watched a video on Youtube, someone trying to explain trend lines and support to students, totally wrong to teach new traders BS, hope his followers have deep pockets.

snapdragon1970 posted:
I just watched a video on Youtube, someone trying to explain trend lines and support to students, totally wrong to teach new traders BS, hope his followers have deep pockets.

Did these students pay for it or was it a free tutorial? Either there's a problem with it - if it's paid, they're obviously paying for wrong information, if it's free, then it's just yet another example how the market is full of bad information and how difficult it is for newbies (and often experienced traders too) to be able to differentiate between the two.

mlawson71 posted:

snapdragon1970 posted:
I just watched a video on Youtube, someone trying to explain trend lines and support to students, totally wrong to teach new traders BS, hope his followers have deep pockets.

Did these students pay for it or was it a free tutorial? Either there's a problem with it - if it's paid, they're obviously paying for wrong information, if it's free, then it's just yet another example how the market is full of bad information and how difficult it is for newbies (and often experienced traders too) to be able to differentiate between the two.

This was a paid webinar, there was 200 people attending, bad enough paying for this but actually using the info to trade with, its not difficult to find professional training if you do your research.