Do i need to be a maths genius? | Forex Factory

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Do i need to be a maths genius?

  • #1
  • First Post: Sep 25, 2007 2:14pm Sep 25, 2007 2:14pm
I have been messing around on a demo account, but do want to take this seriously. but when i start looking at things like indicators my brain starts melting!! so my question is, do i need to be a mathematics wizz to have a realistic chance of suceeding at forex, and do i really need indicators, and if so which are the simple, and easy ones to use.

Thanks for your help
  • #2
  • Sep 25, 2007 2:35pm Sep 25, 2007 2:35pm
Quoting Rking1976
so my question is, do i need to be a mathematics wizz to have a realistic chance of suceeding at forex?
Thanks for your help
NO!
  • #3
  • Sep 25, 2007 2:36pm Sep 25, 2007 2:36pm
Quoting Rking1976
I have been messing around on a demo account, but do want to take this seriously. but when i start looking at things like indicators my brain starts melting!! so my question is, do i need to be a mathematics wizz to have a realistic chance of suceeding at forex, and do i really need indicators, and if so which are the simple, and easy ones to use.

Thanks for your help
NO! and No!
  • #4
  • Sep 25, 2007 2:38pm Sep 25, 2007 2:38pm
Quoting PeterFM
NO!
I looked at the post times:
If this happened by accident, it's pretty scary................
  • #5
  • Sep 25, 2007 2:55pm Sep 25, 2007 2:55pm
Quoting BeachBum
I looked at the post times:
If this happened by accident, it's pretty scary................
Not sure if that confirms..it's the exception that proves the rule.

(Me being the exception lol)
  • #6
  • Sep 25, 2007 3:02pm Sep 25, 2007 3:02pm
so any ideas on which indicators are the easiest to use?
  • #7
  • Sep 25, 2007 3:12pm Sep 25, 2007 3:12pm
Quoting Rking1976
so any ideas on which indicators are the easiest to use?
None of them are, is the simple answer. Many were designed for use on equity markets, and although that doesn't disqualify them from use in FX, you rarely see them used in their pure form.
Most ppl seem to change the basic settings, as designed by their creators, to suit what they want to see on the charts.
Let me suggest you go to BeachBum's Fozzy thread and work with him (it's in his link) the other place to start is James16's Price Action Thread and be prepared to do a lot of reading.
The simpler the better, trust BeachBum he'll keep you on track
  • #8
  • Sep 25, 2007 3:29pm Sep 25, 2007 3:29pm
OK Rking1976.............

If you want to trade Daily and/or 4 hour charts, follow PeterFM's suggestion and use the link in my signature; it will take you to the Fozzy TOC. Start with the e-book, then the 4 hour thread. After that, fasten your seatbelt and scroll throught the original Fozzy thread, stopping to read relevant posts (actually, if you only read the first 200 or so you will have enough to get started). Also, take a look at my latest thread in the new Trading Forum; FXJarhead has made some excellent recent posts in there...........and don't forget the Fozzy Cross thread..............and The James16 Thread too.

OBTW............if you perhaps were thinking you could slap a few indicators on a chart and then have daily deliveries by an armored truck to your house, you're at the wrong place. NONE of us would be here exchanging ideas and trades if Forex were that easy.............. Cheers!
  • #9
  • Sep 25, 2007 3:34pm Sep 25, 2007 3:34pm
it makes a nice change to find people that actually want to help other people out!! this is quality site!!

i realise this isnt easy money, it`s just complex mathematics is not my strong point, so i just wanted to make sure i wasnt wasting my time!! look forward to reading the mentioned posts.

Thanks again
  • #10
  • Sep 25, 2007 3:40pm Sep 25, 2007 3:40pm
Quoting Rking1976
it makes a nice change to find people that actually want to help other people out!! this is quality site!!

i realise this isnt easy money, it`s just complex mathematics is not my strong point, so i just wanted to make sure i wasnt wasting my time!! look forward to reading the mentioned posts.

Thanks again
If it was complex, I wouldn't be here....................
  • #11
  • Sep 25, 2007 3:46pm Sep 25, 2007 3:46pm
Quoting Rking1976
it makes a nice change to find people that actually want to help other people out!! this is quality site!!

i realise this isnt easy money, it`s just complex mathematics is not my strong point, so i just wanted to make sure i wasnt wasting my time!! look forward to reading the mentioned posts.

Thanks again
Rking -

I like James16 Price Action, it has changed my trading around. But.....to be honest, there are a ton of things that work.....it's discipline that will keep you in the game.

Sometimes you shouldn't trade. And trust me, sometimes I still make that mistake as well. I am getting better, and it shows on my returns.

I would guess the common denominator between successful traders, is that they have discipline, and aren't gamblers.

No matter which route you take to develop a system. Do not force a trade, ever. This alone will ensure success. (In my opinion.)

Any idiot can read a chart, even me.
  • #12
  • Sep 25, 2007 3:53pm Sep 25, 2007 3:53pm
Quoting Rking1976
it makes a nice change to find people that actually want to help other people out!! this is quality site!!

i realise this isnt easy money, it`s just complex mathematics is not my strong point, so i just wanted to make sure i wasnt wasting my time!! look forward to reading the mentioned posts.

Thanks again
promoting my own thread, there's no systems in there as such, but it's a look at how I developed and the mistakes I've made. Some folk have found it useful
  • #13
  • Last Post: Sep 25, 2007 6:27pm Sep 25, 2007 6:27pm
Quoting Rking1976
so any ideas on which indicators are the easiest to use?
THE ONLY Indicators to use Are The Ones That YOU Understand.
GL. LL&BP
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