Hard beginning.. Please help!
YOU are not gonna like what i say, but your money will !
Trading is a business, habited by the best of the best traders whose one job is to make money for "someone" or "something", be it a bank, a broker, or individual clients, handled by a money manager, AND THEY SIMPLY DONT CARE one bit about the "retail client", which happens to be YOU -- actually, they do notice you every now and again --- just as theyre doing a head fake and dropping your LONG by 100 pips, scaring the living bejesus out of you, triggering stop losses and losing you scads of money !
Forex (and any other form of financial trading) is a full time job for thousands, and youre just stepping on the platform that will allow you to get on the train that will take you to the town that contains the school that will allow you to attend classes in this new (to you) industry. You can get on job training, but youre presently at a point where you dont even know what you dont know !
Theres money aplenty to be made (AND also lost) but please DO NOT HAVE THE AFFRONTERY to believe you can jump in with some EA you found and start making money, because you will end up GRAVE YARD DEAD in very short order, and your money will be gone.
There is a solution, but you wont like it either ------ PATIENCE !!!!! --- most "competent" traders feel it takes one to two years to learn enough to then become "competent" yourself, which leaves a long time yet to become "really good and lets not even BEGIN to think the word "excellent !"
as you wonder thru the scads of information out there, you will begin to assimulate some, understand what others are saying and slowly your knowledge level will increase, bringing on more desire to learn ---- like anything else, YOU HAVE TO DO THIS ---- fortunately you will, as if by osmosis, begin to learn, and as you begin to learn you will understand what you dont know, and once you understand what you dont know, you will head towards learning it and once you find it, you will look back at your above questions with much smiling !
there is NO field of endevor that one just jumps into WITHOUT TRAINING AND EXPERIENCE, and forex is no different --- for ANYONE to believe differently is simply suicide !
So spend the time to learn, demo different methodologies, and in a year you may possibly be walking the walk, talking the talk and wearing the double breasted blue blazer and white wingtips of the international banker ---- try doing it without treating it seriously, and they will take you out on a stretcher while 30 other "lemme do it coach -- I can do it !" newby traders attempt to step over your crushed body and account !
Can an EA do it for you ? Yes, No, Maybe --- at least until that horrid moment when it doesnt and you learn the meaning of margin call !
Forex is like anything else --- study, learn and practice --- then the maserati, trophy wife, 2 mil home in the upscale zip code and those wingtips !
OF COURSE, YOU JUST MAY BE THAT ONE IN A BILLION WHO CAN DO IT ALL BY YOURSELF BY NEXT WEEKEND !
Oh yeah, one last thing --- KEEP THAT MONEY AWAY FROM ANY BROKER FOR A LONG LONG WHILE !
OK, final one last thing --- IT DONT TAKE A GENIUS TO MAKE IT IN FOREX --- in the financial world, forex is one of the most "predictable" of the trading venues to those who can see its movements which are much more logical than most believe (think being RIGHT brained helps here) and can be charted and plotted with the simplest of indicators, so theres hope grasshopper, theres hope indeed !!!!!
enjoy and trade well
mp
Thank You for really exhaustive reply. For sur You are right. But I'm still waiting for answer for my questions: how to?? What exactly should I learn, what exacytly shoud I do, which strategy to take, which indicators or EA to begin, to practice and learn?? You give me now ideology, and I'm grateful for that. But I'm still asking for more detailed clues. Can anybody try to do this? I would be very appreciated.
THERE IS NO ANSWER BECAUSE THERE ARE SO MANY ANSWERS !
My apologies for coming on in that brusque a manner, although the words were intentional and correct as to LEARNING and experience !
There are hundreds if not more, of you "starlets" getting off the train at Hollywood, seeking fame and fortune, and down the way is some guy in a trenchcoat, and when he's finished youll be back home, crushed and broken, and a whole new load of "starlets" will be arriving to make their fame and fortune and probably a bunch of new "trenchcoats" also !
send me an email to mp@highlands.com and i will send a small list of places to go and sites to see that may start you off in the right direction. Email me because I dont know this sites rules on posting other sites, and dont want to offend !
enjoy and trade well
mp
Thank You for really exhaustive reply. For sur You are right. But I'm still waiting for answer for my questions: how to?? What exactly should I learn, what exacytly shoud I do, which strategy to take, which indicators or EA to begin, to practice and learn?? You give me now ideology, and I'm grateful for that. But I'm still asking for more detailed clues. Can anybody try to do this? I would be very appreciated.
Your question is a common one, and I've asked these questions myself when I first started trading... So here are the steps that I recommend:
- Study the Forex market from the available sources online. Important concepts to learn are technical analysis, fundamental analysis and money management. For this I highly recommend School of Pipsology - - Beginner's Guide to Forex Trading, Free Forex Education, Learn to Trade Forex, Forex Training - BabyPips.com
- Next, set up a demo account with any of the reputable brokers and start paper trading (trading with fake money).
- As you continue to paper trade, you can start developing your own trading rules and start developing your own trading system.
- Once you've made consistent profits in your paper trades, you may like to look into trading with some real money. BUT NEVER, NEVER trade with money that you can't afford to lose!That's pretty much it. Unfortunately, most people get stuck at Step 3. I know I did.
Gee many help for the information though. I found it really2 helpful.
Do you know how we can scan good trading system or bad trading system?
Most of people out there always claim that their trading system is the best. I'm quite confused a lot. Please enlight my path. Thanks.
Hi wondercorn,
You may want to download my free report (below), or sign up for my free newsletter at the same website address.
I have gone through many of the so-called 'trading systems' that are found online, and unfortuately many of them are honestly quite terrible.
In my newsletter, I'll recommend those that I've tried out, and personally found to be useful.
Hope this helps. 
Hi
If you have not time to research forex market to collect useful information then take a porfessional training from experienced forex trader which provide you step by step training and strategy...
Gee many help for the information though. I found it really2 helpful.Do you know how we can scan good trading system or bad trading system?Most of people out there always claim that their trading system is the best. I'm quite confused a lot. Please enlight my path. Thanks.
If you are prepared to take it as business, and you are looking for a method
you want to learn and you are prepared to learn it and pay for it, you can contact me. This is business.
And I will show you how something you will not get from ordthodox training sites or EAs plugins......
If you are serious, you can demo or live trade with me free for 1 week before you start your training. (training is not free)
I will show you live trades and how to take them.
I have skeletal commentary here: Not the detail.
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I'm a beginner in forex trading, I have read a few e-books about it, opened a demo account, trade a few systems with no big results...
I'm still searching and looking for better solutions..
And I have to say.. I have got lost.
I surf the forum, and there is soooooooo much many different informations, systems, EA's, solutions, strategies... It's much too much to me to get through this..
My BIG ASK IS: Can anyone of You, guide me a little bit, and say:
1. What is really good and worth my attention?
2. Which strategy do You personally recomend?
3. Which indicators, and how to use them // You can just put some links to topics on this forum//
3. Maybe which EA do You recomend?? It could be free paid. Doesn't matter. I'm a student so I have a very little time during the day, so the EA would be nice...
4. What way should I choose? There are so many information, how to not loose the right direction??
5. Please remember I'm still a student so I don't have big amount of money to invest
for beginning 500$, maximum 1000$...
Please help me in my beginnings. Please show me straight way, what to check, what to learn, what to use to make stable profits. If it is possible. Point 4 from above is for me very important now.
I would be very very appreciated for answers for my questions... Thank You.