Hey guys,
Another newbie! I've been reading and searching around on this forum for quite a while. I've always been interested in getting into the FX market as well as day trading, since about 3 years ago, but i just kept putting it off. I decided to finally throw down and get to learning! I'm not getting any younger. I chose the forex market because I read about no commissions and 24/5
I've downloaded all the ebooks and bookmarked all the important threads that I found while searching around the forums and google. I noticed a lot of people mentioned getting a demo account is extremely important. So I did that. While reading I usually write down important info, formulas and definitions. I remember them better that way.
I figured having the demo account on hand while reading would help me understand more about what the ebooks/posters are talking about, which is why i made one.
I picked up a demo account from FX Solutions and went from there. Keep in mind I still don't know 100% what im doing. lol.
So I started the account it gives me 10k balance, 10k Equity, 10k Usable margin.
I clicked buy and sell on a few random things then just randomly closed the orders and lost about 1k. lol.
Then what I started doing was waiting until the price got pretty low. Bought 20 lots, set a limit. I did this through the day and my balance went back up to 9,394.58 from a little less than 9k.
The streaming tick chart was realtime and I was dealing with very fast moving trades I found my self clicking every few seconds. The trades were small but I after many trades it added up.
I'm pretty sure this isn't how you're supposed to do it but I thought I'd post what I was doing anyway. lol. I know for newbies its recommended to use 4 hour charts. but I thought I would try things out.
Now that aside. Have I missed anything in the way of reading material? I want to make sure I read everything I possibly can so I can actually learn to play with a demo account using all the fancy charts and mathematics you guys use. I'm still studying ebooks and forum posts, but if you guys think I missed any resources do point them out.
Sorry for the long post! =P
Another newbie! I've been reading and searching around on this forum for quite a while. I've always been interested in getting into the FX market as well as day trading, since about 3 years ago, but i just kept putting it off. I decided to finally throw down and get to learning! I'm not getting any younger. I chose the forex market because I read about no commissions and 24/5
I've downloaded all the ebooks and bookmarked all the important threads that I found while searching around the forums and google. I noticed a lot of people mentioned getting a demo account is extremely important. So I did that. While reading I usually write down important info, formulas and definitions. I remember them better that way.
I figured having the demo account on hand while reading would help me understand more about what the ebooks/posters are talking about, which is why i made one.
I picked up a demo account from FX Solutions and went from there. Keep in mind I still don't know 100% what im doing. lol.
So I started the account it gives me 10k balance, 10k Equity, 10k Usable margin.
I clicked buy and sell on a few random things then just randomly closed the orders and lost about 1k. lol.
Then what I started doing was waiting until the price got pretty low. Bought 20 lots, set a limit. I did this through the day and my balance went back up to 9,394.58 from a little less than 9k.
The streaming tick chart was realtime and I was dealing with very fast moving trades I found my self clicking every few seconds. The trades were small but I after many trades it added up.
I'm pretty sure this isn't how you're supposed to do it but I thought I'd post what I was doing anyway. lol. I know for newbies its recommended to use 4 hour charts. but I thought I would try things out.
Now that aside. Have I missed anything in the way of reading material? I want to make sure I read everything I possibly can so I can actually learn to play with a demo account using all the fancy charts and mathematics you guys use. I'm still studying ebooks and forum posts, but if you guys think I missed any resources do point them out.
Sorry for the long post! =P