Leon:
First off, everything you need to know to become a profitable trader is located at babypips and here. All that information is provided for you.
The problem I believe you are facing is that you cannot conceptualize the information you've garnered into a feasible trading plan.
I had this problem. The best advice I can give to you is to look at other trading systems and trade them for a couple weeks each. You'll learn how each system operates and why they work or don't work with your trading style.
Honestly, I think the make or break on whether a trading style works is entirely up to the person. I tried so many systems that worked for others but not me. Finally I took the best parts of a bunch of systems and tweaked them week after week until I eventually got more consistent profit.
That's the secret to forex. It's not an edge you have over everyone else, or knowledge that you possess that's not out there for the general public. It's the ability to find a trading system that is ideal for your personality type.
Also, I would classify anyone who doesn't pull a consistent profit a newb...because in any other aspect of life if you can't do what you're trying to do then you're not good at it and considered an amateur.
By no stretch of the imagination am I a seasoned forex veteran...I still consider myself very new to the field. But I can pull consistent profit.
Just work on finding whats right for you. AND DON'T BACKTEST. The best thing I can say is grab some of your favorite indicators and go back about a year in MT and go forward one bar at a time for your desired time frame. This will give you a good indication on how real trading of the system would work.
Keep it up buddy. I know anyone can make it in this business if you eat, sleep, and live forex.
Matt
First off, everything you need to know to become a profitable trader is located at babypips and here. All that information is provided for you.
The problem I believe you are facing is that you cannot conceptualize the information you've garnered into a feasible trading plan.
I had this problem. The best advice I can give to you is to look at other trading systems and trade them for a couple weeks each. You'll learn how each system operates and why they work or don't work with your trading style.
Honestly, I think the make or break on whether a trading style works is entirely up to the person. I tried so many systems that worked for others but not me. Finally I took the best parts of a bunch of systems and tweaked them week after week until I eventually got more consistent profit.
That's the secret to forex. It's not an edge you have over everyone else, or knowledge that you possess that's not out there for the general public. It's the ability to find a trading system that is ideal for your personality type.
Also, I would classify anyone who doesn't pull a consistent profit a newb...because in any other aspect of life if you can't do what you're trying to do then you're not good at it and considered an amateur.
By no stretch of the imagination am I a seasoned forex veteran...I still consider myself very new to the field. But I can pull consistent profit.
Just work on finding whats right for you. AND DON'T BACKTEST. The best thing I can say is grab some of your favorite indicators and go back about a year in MT and go forward one bar at a time for your desired time frame. This will give you a good indication on how real trading of the system would work.
Keep it up buddy. I know anyone can make it in this business if you eat, sleep, and live forex.
Matt