New to Forex: Where do I start? - page 8
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I have to agree about metatrader 4 platform - it is the best out there. Don't be scared of the way it looks - it isn't "fluffy", but it is definitely the most professional out there.
i wouldn't say it is the best platform, but it is definitely the easiest to use.
i must agree with witsnpips...
MT4 is probably the most convenient platform out there, but it's definitely not the best nor the safest. It does leaves you quite vulnerable to sl hunts and price manipulations, so you need to know how to protect yourself.
I suggest you start with demo or with the small amount.
Doing live trade few months until you can generate good profit and consistance.. then you can go trade with more serious amount.
Hello guys, my name is Mike hope to be a regular here
And, a few questions to the reqular traders here if it's okay :P :
1) How profitable can forex be?
2) How much do you earn by trading forex? (I know it's confidential but to anyone who wants to answer it, thanks!)
MichaelCheck my link, I can send you my free e-book .how to get started in Forex'
I suggest you to find 10 very nice real traders that are not interested in your balance
then being humble and learn from them, if you see pricing as supermarket price or try to minimize all the risk and maximise all the profit or trade every couple of hours, then you are doing it wrong
charting is vital , not the basic candle, but most of them just look good, does not feel good when you trade with it == human instinct versus forex gyro nature (the picture show few critical but very difficult price levels on yesterday GU -- could you NAME the price level)
prettymuch like a white glove duet in a flying bullets of a bank incidents
all the bullets are firing around when traders got no idea of the true imminent direction -- which represent in each price level, all entry bullet are firing in both direction, but they just fly few cm in distance then fell to the ground -- these are our disorientated entries, which has been represented in this diagram
sparingly is the keyword for you to remember
====== put it in this way-- easier for NOVICE to understand the GAME ===
imagine there are 2 online banking
Bank A in yankee stadium USA that will give you a mortgage loan
Bank B in liverpool UK that is your investment advisor
Bank A told you -- I can give you 10,000 USD for 1 USD interest in a day i.e. 360 days , only cost you 265 USD in interest (we are very good, we don't charge you interest during weekends), you can do whatever you want, as long as you promise to pay us back in 1 year or before that
or you can opt for the bank B vault, put down 10,000 USD with the receptionist outside and get as much foreign currency (equivalent to 10,000USD -- if you get more than 10,000USD worth , we will shoot you at the door of the vault by our light speed laser gun) , then get out the vault --- as long as you don't exceed 24 hours or after our GMT midnight, we will charge you 0.00 interest, liverpool is next to dublin and N ireland anyway, we artificially got a lot of HYPE in that sea (while we knew, we put all the irish people in North Ireland , and put all the english religious extremist in Liverpool, we could have solved the "HYPE" ages ago)
the HYPE or unjustify diplomatic face is BRITISH POLITICS , if anything happen, find the AUSTRALIAN, GERMAN, JAPANESE to hate-- what is the problem, british is not EMPIRE anymore, and british just hatred about foreign origin)
the ways that the british see YANKS -- as quote from another young british person " in the 60s, there was a brain drain, just like a big titanic, all the brightest british went to america" , how queen or londoners see the tourist >> they have to come to britain to see the Queen (s) --- londoners treat tourist like the famous london story -- OLIVER TWIST, what the tourist get out of london ?? (oliver twist main character treatment) -- worse than those who went to see the parisians in PARIS
What LONDONER or other "tourist-deprive" city can offer to international tourist, when you think about your TRAVEL, really not much, you will remember an old school city, with grey ugly building, and the blue "bureau de change" sign , so you could get some much needed POUNDS and peeee (-nce) == that is just like trading with the GBP/USD GBP/JPY and GBP/AUD , what do you get ?? honestly !!
will the bank happy for you to take their hard earn money ?! so this should really affect your position in forex trading == more you do , more stupid that you could be
Now, you are KEANU REEVES , you have to decide what to do
does it sound like any MOVIE plot ?
-==========--
currently, GBPUSD is about 42 hour or 91 hour or 20 hours in its phase behaviour, how could you cash from bank of ENGLAND, think Hard on these number, does it mean something or nothing at all, then you could learn faster in forex
actually, even for good traders, they know no forecast is perfect and market don't have to go with your prediction -- as a matter of fact, they use tiny little pips move or short candles to mislead you
so forecast is actually time based, not direction or swing-based
beside, how do you handle quick-firing round -- if you know what I am talking about , few minutes, the price jump == remember you are not a dog stare on a ball, you can't watch the chart and react every single minute --- most of the time, you don't even believe your eye that it could be such fast pace
I suggest you start with demo or with the small amount. Doing live trade few months until you can generate good profit and consistance.. then you can go trade with more serious amount.
Only with demo account! It's time for training and making his own strategy.
Demo and real trading are very different, you really know your fears when you invest real money.
Demo and real trading are very different, you really know your fears when you invest real money.
I'm new to here but is anybody here started trading without trading on demo accounts?
It is normal to practice on demo account.
The real version is no different, what changes is the behavior of the trader.
Indicator
Where do you find the MEGA Trend indicator??? Thanks Don