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Newbie wannabe Trader

Jun 05, 2020 at 01:55
Vistas 3,030
63 Replies
Miembro desde Jun 05, 2020   posts 4
Jun 05, 2020 at 01:55
Hi Folks,

I just found this informative unbiased weblsite

my goal: to learn HOW to trade

How do I?

I'm told to learn..but learn what?

Books I've read: market wizard series, Trading in the Zone, Naked Trader

Strategies: ORB Tony Crabel, Larry Williams Range Trading, Inside bar trading

My Problem: confused

Stock traders state don't trade forex as it's a mean reversion market

Trading style is based on your personality but what if I don't know my trading personality?

I've PAID for Forex education BUT it just teaches THEORY pattern recognition and Price Action

Why the trend in UK on Forex and nothing on Options Futures trading (my observation)

I've started LIVE trading....every trade goes against me....

Diff schools of thought on trading...owhich methodology? Dow theory? Wyckoff method?


Experienced traders which path do I go down?






Miembro desde Jun 05, 2020   posts 4
Jun 07, 2020 at 05:23
Thanks Duranh

I've graduated from babypips btw...which everyone recommends

Miembro desde Oct 25, 2019   posts 27
Jun 07, 2020 at 15:15
I agree with the previous commentator) Maybe you just rushed to open a real account when you need some more time to demo. Different people spend different amounts of time preparing for real risks, from a couple of months to a whole year. It's also cool that you've been trained on babypips, there's good training. Eventually you'll gain experience and will not be so nervous, but on the contrary you'll be more confident in yourself and in your knowledge. Visit more forums, read additional articles about trading, spend a little more time on demo. And of course, don't forget about motivation. It can be hard for everybody, and especially at the beginning, but it isn't a reason to give up ;)
Miembro desde Jun 05, 2020   posts 33
Jun 08, 2020 at 07:53
chachaman posted:
Thanks Duranh

I've graduated from babypips btw...which everyone recommends

Even I made a lot of use of Babypips in the starting years
Miembro desde May 11, 2019   posts 25
Jun 08, 2020 at 15:43
You don't have to overthink too much all this stuff, it certainly won't help. Everybody sometimes has some problems and we lose money. But this experience helps us get better and more experienced over time. So don't think too much about past deals, think about what you can fix in future deals to make you profit.
Miembro desde Jun 01, 2020   posts 55
Jun 09, 2020 at 06:42
Do you trade using a plan. If you don't you must formulate a plan for your trades, that really helps one stay on track.
Rest i wish you all the best and stay calm.
Miembro desde May 27, 2020   posts 31
Jun 10, 2020 at 07:13
Suarez posted:
Do you trade using a plan. If you don't you must formulate a plan for your trades, that really helps one stay on track.
Rest i wish you all the best and stay calm.
Sound trading plan is essential to trading.
Miembro desde Aug 15, 2013   posts 4
Jun 12, 2020 at 00:50
Hi there, in the forex world you will find the more you learn the less you know, thats when things get overwelming. Everyone can start to trade knowing the basics but you need to find a strategy that you like and demo or real trade if you have the money to loose for practice sake with small amount untill you are profitable. I would reccomend at least 100 trades and 3 to 6 months trading. The worst thing you can do is strategy hopping, you will loose your mind beleave me. Stick to what works for you.
richardfraser2401@
Miembro desde Jun 05, 2020   posts 4
Jun 13, 2020 at 05:19
WOW..... thanks for your support/feeedback

Yes I do keep a trading journal

As you very know very well demo tading and LIVE 2 entirely different

Demo no emotions

Even one of the market Wizards recommends trading live

I see trading as a path to self discovery by finding analysing your faults/mindset/behaviour

Again thanks traders
PROFITINGSYSTEMS
forex_trader_1579982
Miembro desde Jun 04, 2020   posts 48
Jun 13, 2020 at 18:56
Make sure you practice very Well before engaging in Forex, I did my practice back then for over a year before I got my working strategy.
Miembro desde Jun 05, 2020   posts 4
Jun 15, 2020 at 13:53
already blown half my account

Live trading now, emotions kick in

experimenting as I dont have startegy yet

Uslng MA Crossover

Noticed Forex is a mean reversion market
Miembro desde Jul 19, 2020   posts 318
Aug 06, 2020 at 09:32
Yes. But he should have proper knowledge about the market. At first he can practice and learn about Forex by trading in a demo account. It will help him to learn all the basics of Forex easily without any risks.
Miembro desde Jan 04, 2012   posts 48
Aug 06, 2020 at 10:24
if your emotion involve during your trading,its meant you trade too much lot.
so if you currently trade 10 lot,lower it down to 5 lot. till you dont feel any emotion with your trade.

2.its better to use simulation backtest, with that you can test new strategy with short period of time.
Miembro desde Jul 20, 2020   posts 341
Aug 07, 2020 at 10:44
If you want to learn about forex trading you can join with many websites that provide many courses of forex learning. You can also learn forex from a professional trader.
Miembro desde Jul 19, 2020   posts 2
Aug 07, 2020 at 11:27
I am new to trading also and have found https://www.tradingwithrayner.com/academy/ this fellow to be extremely helpful. Lots of content, simple, easily explained and lots of examples given. Start with the beginner series and work through.
Miembro desde Jul 20, 2020   posts 232
Aug 17, 2020 at 11:00
If you want to trade in the forex market, you have to gather all kinds of knowledge about the market. Because without knowledge you can lose all your money. So gather knowledge before entering into the market.
Miembro desde Jul 19, 2020   posts 318
Aug 19, 2020 at 11:51
New traders should learn first before starting their trading career. They an learn all the basics of Forex by creating a demo account. I think, Demo account is the most effective method of learning forex.
Miembro desde Aug 14, 2020   posts 40
Aug 20, 2020 at 11:53
New traders should focus on learning part first and then carry forward their journey step by step.
Miembro desde Oct 05, 2020   posts 21
Oct 07, 2020 at 09:25
Demo accounts are a good way of identifying your trading personality.
Miembro desde Apr 01, 2020   posts 231
Oct 08, 2020 at 01:15
Do you have basic knowledge and plan, if not learn the Forex first and formulate a plan to trade Forex successfully.
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