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New traders Guide

  • #21
  • Dec 22, 2017 4:49am Dec 22, 2017 4:49am
Outstanding thread! But, I am curious to know your opinion on fundamental analysis for the new traders! Because, there is no point on news analysis.
  • #22
  • Jan 8, 2018 5:25am Jan 8, 2018 5:25am
I have been into that wheel, i mean that squirrel wheel you mentioned above... there is so much time already spent, and also so much money being invested, in the end, the result is nothing, thanks for the inspiring post. I am just about to start a new chapter in my life
  • #23
  • Feb 21, 2018 11:14pm Feb 21, 2018 11:14pm
Quoting Mink1993
I have been into that wheel, i mean that squirrel wheel you mentioned above... there is so much time already spent, and also so much money being invested, in the end, the result is nothing, thanks for the inspiring post. I am just about to start a new chapter in my life
Hello Mink; all the best! Just one advice, please don’t lose your hope too early!
  • #24
  • Feb 22, 2018 3:54am Feb 22, 2018 3:54am
New Fx trader always think, only learning can make sure a comfortable trading life , I don’t agree. Of course there is no way to ignore learning activity , but without having regular practice most powerful analyzing learning approach can be useless , that’s why newcomers should always continue learning and practicing . Good luck
  • #25
  • Feb 22, 2018 8:25pm Feb 22, 2018 8:25pm
This is an amazing read! I myself am a brand new trader and found it very helpful. I have yet to even start a demo account since I have been doing my preliminary research over the past couple of weeks. Im getting ready to start my journey now. Here is what my intentions are...maybe someone could offer suggestions?

First: I will install MetaTrader 4 and some data software such as TickStory

Next: I will use the programs to begin back testing the last 3 years of data (I still have no idea how to choose a strategy, or what a strategy even looks like)

Then: Once I have successfully back-tested a strategy which seems reasonably successful I will begin a demo account

Finally: Once I have success on the demo account I will go live

I really have no expectations of profit at first...I realize I will probably lose all of my initial money ($500 to start). This really doesn't bother me as I recognize this is a learning process. Just like I had to pay for school...Ill have to pay for this education in some way, shape, or form as well. Plus, the money I am trading with is a very small percentage of my income. It will not hurt me if it is gone.

Thanks again for the post, and any suggestions are much appreciated!
  • #26
  • Feb 23, 2018 6:12am Feb 23, 2018 6:12am
Awesome post couldnt have said it better myself, nice one!
  • #27
  • Feb 23, 2018 11:57am Feb 23, 2018 11:57am
Let me add some points to your "guide":

FACTS about FOREX.

According to Official Broker Stats, 99.6% of Traders LOSE Money in FOREX. So, unless your EGO is too big and you think you are an illuminati able to be part of the 0.4%, OR you are just stupid, don't waste your money in FOREX.

If you are part of the 100%... hmmm sorry I mean 99.6%, and you come to the forums to complain, the huge paid trolls by companies will tell you: "You need to invest more time", "you need to work harder", "If a Doctor goes to university 10 years, you need to test 10 years Forex in demo"... bla bla bla... all the same stupidity nonsense to justify their SCAM and Ponzi Sheme. They will tell you about the 5 phases of FOREX, Conscious, Unconscious and whatever Freud worthless stuff.

Only way to make some bucks with FOREX.

Method #1: Become a guy like James16 selling premium OVER-Priced memberships to a site that will teach a system that doesn't work at all. Because you cannot predict the future. But we can we pretty confident to say that James16 did a lot of money with that site. At some point he had 1000 members at 300 bucks per member, do the math. With new members joining all the time, for years he surely made a lot of money. It's obvious he made money with FOREX, BUT not trading. He never traded anything. He did so much money that he could retire in 2016, closed the site and nobody here complained. That's another advantage of Forex, people are SHEEP. Complete SHEEP. And you as a RETAIL FOREX MADDOFF, you can do whatever you want and nobody will complain at all. They don't have enough balls. They are all Passive.

Method #2: Become an affiliate or reseller. Just check Forex Factory. 50K per month as reseller.

Method #3: Become one of those guys like Hanover or Hamburg, or whatever... That sell "worthless systems" and EA Advisors, etc. If his system was doing good, why would he sell it? Just use it for yourself, HANOVER or HAMBURG or ROTTERDAM (Yes I know this last one is in Holland, so what).

Method #4: If you have absolutely no ethics, have no problem to be a freaking Mafia guy, and you have investors and a capital, open something like those sites zulu something i think zulu trading or something.. sounds like african tribe. The owner of that site makes 1 million dollars per month in pure profit, with that sheme. The problem with Forex, is that there still is a huge LOOPHOLE in terms of law, and this allows all those Retail sites to operate and do whatever they want.

Is Mingary still around? I remember he was one of the good guys here.
The Black Swan: The Impact of the Highly Improbable
  • #28
  • Edited 7:36pm Feb 23, 2018 6:34pm | Edited 7:36pm
Quoting MapleLeaf
Method #3: Become one of those guys like Hanover or Hamburg, or whatever... That sell "worthless systems" and EA Advisors, etc. If his system was doing good, why would he sell it? Just use it for yourself, HANOVER or HAMBURG or ROTTERDAM (Yes I know this last one is in Holland, so what).
Looks like it's time for me to confess. Earlier this year I sold one of my "worthless" EAs to the ECB for 7.2 billion euros. Many of their board members trade with MT4, as an important adjunct to their QE programme, and you can see ECB chief Mario Draghi sealing the deal with me in the photo below.
Attached Image

You'll also be DELIGHTED to know that, since apparently upsetting you by posting this, some more recent statistics have caused me to come around to yours and Mingary's way of thinking!! These statistics (which are a FACT by the way, hence there's no need for me to provide any supporting evidence) show that 99.99999999% of forex traders lose!! In FACT out of all of the 412,336,918 wannabes who've ever attempted forex, only ONE trader has ever been successful. Curiously enough, he happens to be the gentleman whom I'd previously handpicked, from this menagerie of potential candidates, to manage my account. (Which is of course why the ECB quickly recognized my genius, and begged me to sell them the EA).


You can also purchase the EA. In FACT I'll offer you a never-to-be-repeated 50% discount if you buy before noon on April 1st. Even better, if you're one of the first 1,312,869 callers, I'll throw in FOUR revolutionary, never-before-seen, indicators collectively worth 212,174,082 euros, as your FREE bonus. Of course you'd better hurry before available stock runs out.

[And to help you recover your forex losses, I've attached the AMAZING Crystal Ball indicator, absolutely FREE, which consolidates the results of 130,762 profitable neural net algorithms, below!!]


Now if you've no other hidden gems to make public, I'll continue with my not-too-hard earned holiday.
Attached File(s)
File Type: ex4 Crystal Ball.ex4   5 KB | 525 downloads


(I've been a member here since 2006. If I was actually selling anything, I think the admins would have made me a Commercial member a long time ago).
  • #29
  • Edited 11:34pm Feb 23, 2018 10:30pm | Edited 11:34pm
Quoting MapleLeaf
Let me add some points to your "guide": FACTS about FOREX. According to Official Broker Stats, 99.6% of Traders LOSE Money in FOREX. So, unless your EGO is too big and you think you are an illuminati able to be part of the 0.4%, OR you are just stupid, don't waste your money in FOREX. If you are part of the 100%... hmmm sorry I mean 99.6%, and you come to the forums to complain, the huge paid trolls by companies will tell you: "You need to invest more time", "you need to work harder", "If a Doctor goes to university 10 years, you need to test 10...
.4%? I guess The Illuminati's getting a little too crowded. That puts us at about 30 million. Oh well, we had a good run. We're going to have to come up with something a little more secretive and mysterious.

Any name change proposals? Hanover, talk to Mario. The boys really should be addressing this.
"The fun is in the hunt. Not the kill."
  • #30
  • Feb 23, 2018 11:29pm Feb 23, 2018 11:29pm
Quoting hanover
{quote} Looks like it's time for me to confess. Earlier this year I sold one of my "worthless" EAs to the ECB for 7.2 billion euros. Many of their board members trade with MT4, as an important adjunct to their QE programme, and you can see ECB chief Mario Draghi sealing the deal with me in the photo below.{image} You'll also be DELIGHTED to know that, since apparently upsetting you by posting this, some more recent statistics have caused me to come around to yours and...
You can be all ironic you want, but we all know you are here for one reason and one reason only. To sell your worthless snake oil to the sheep. Your selling is quite discreet. Like an experienced snake oil salesman. You don't make big announcements to avoid being quoted as Commercial.

Besides that, you actually have an agenda. It is pretty clear. Otherwise, you would not waste so much time and energy in this forum for over a decade. Not a mature guy like you that could be using that time for something else.

Don't even bother, Frankfurt... Your tricks are not going to work with me.
The Black Swan: The Impact of the Highly Improbable
  • #31
  • Feb 24, 2018 4:42am Feb 24, 2018 4:42am
Quoting MapleLeaf
{quote} You can be all ironic you want, but we all know you are here for one reason and one reason only. To sell your worthless snake oil to the sheep. Your selling is quite discreet. Like an experienced snake oil salesman. You don't make big announcements to avoid being quoted as Commercial. Besides that, you actually have an agenda. It is pretty clear. Otherwise, you would not waste so much time and energy in this forum for over a decade. Not a mature guy like you that could be using that time for something else. Don't even bother, Frankfurt......
All I read, was "Forex is f*ing hard!", I agree!

Are you waiting for someone to make it easy for you?

Attached Image
Why is a Raven like a Writing Desk?
  • #32
  • Feb 24, 2018 2:18pm Feb 24, 2018 2:18pm
Quoting MapleLeaf
{quote} You can be all ironic you want, but we all know you are here for one reason and one reason only. To sell your worthless snake oil to the sheep. Your selling is quite discreet. Like an experienced snake oil salesman. You don't make big announcements to avoid being quoted as Commercial. Besides that, you actually have an agenda. It is pretty clear. Otherwise, you would not waste so much time and energy in this forum for over a decade. Not a mature guy like you that could be using that time for something else. Don't even bother, Frankfurt......
One of the most delusional post i have ever seen haha ! Genius

Congratz mr sherlock !
Take it easy.
  • #33
  • Feb 25, 2018 4:14pm Feb 25, 2018 4:14pm
Quoting Rastus81
{quote} All I read, was "Forex is f*ing hard!", I agree! Are you waiting for someone to make it easy for you? {image}
There is no such thing as "hard forex" or "easy forex"... It's completely absurd to say that forex is hard. It would be the same as saying "gambling is hard". You cannot predict the future. It is as simple as that.

Go try to sell your snake oil to someone else.
The Black Swan: The Impact of the Highly Improbable
  • #34
  • Feb 25, 2018 4:16pm Feb 25, 2018 4:16pm
Quoting Quants
{quote} One of the most delusional post i have ever seen haha ! Genius Congratz mr sherlock !
One thing is sure. You don't make a living trading Retail Forex.

That's for sure, Watson. Nuff Said.
The Black Swan: The Impact of the Highly Improbable
  • #35
  • Feb 26, 2018 1:55am Feb 26, 2018 1:55am
Quoting MapleLeaf
{quote} One thing is sure. You don't make a living trading Retail Forex. That's for sure, Watson. Nuff Said.
You are just the guy because cant make it by him self thinks other cant do it..
Take it easy.
  • #36
  • Feb 26, 2018 4:39am Feb 26, 2018 4:39am
Quoting Quants
{quote} You are just the guy because cant make it by him self thinks other cant do it..
Mapleleaf understands quite well where to draw the line between trading and gambling. The snake oil keeps the snake well lubed.
"The fun is in the hunt. Not the kill."
  • #37
  • Edited 6:41am Feb 26, 2018 6:30am | Edited 6:41am
Quoting Redeflect
{quote} Mapleleaf understands quite well where to draw the line between trading and gambling. The snake oil keeps the snake well lubed.
I have doubts about it as he doesnt understand how to draw the line between helpful user and scammer..
In fact he is user since 2010 what did he contributed in order to benefit others ?

I had a chance to send an e mail to Hanover long time ago and he did replied back with helpful links and respectful..

Thats why on my eyes Mapleleaf is delusional and he have a great place in my other thread which is "Illness of FF Mythomania"..
Take it easy.
  • #38
  • Feb 26, 2018 7:24am Feb 26, 2018 7:24am
Quoting Quants
{quote} I have doubts about it as he doesnt understand how to draw the line between helpful user and scammer.. In fact he is user since 2010 what did he contributed in order to benefit others ? I had a chance to send an e mail to Hanover long time ago and he did replied back with helpful links and respectful.. Thats why on my eyes Mapleleaf is delusional and he have a great place in my other thread which is "Illness of FF Mythomania"..
Nearly 3 years in the game and you're still taking everything at face value? The scammers are helpful users. It just depends on which side of the equation you lay.
"The fun is in the hunt. Not the kill."
  • #39
  • Edited 8:10am Feb 26, 2018 7:47am | Edited 8:10am
Quoting Redeflect
{quote} Nearly 3 years in the game and you're still taking everything at face value? The scammers are helpful users. It just depends on which side of the equation you lay.
Thats another point , you can be in the game for 10 years keep practicing it in a wrong way and be very good at doing it wrong or even worse than 3 years one.

If someone there for 10 years and still didnt contribute anything useful other than %99.6 and gambling
there is issue already ).. He might just picked to not share what he knows or he doesnt know anything at all..
So which one is our guy ?..

The point is not only contribution.. While he didnt make any contribution he throwing knives to hanover with unlogical way..
So My years being in the game doesnt have any point in it at all..

This guy while not contributing should be respectful to the people that give out the information and think before judge.

And scammers arent helpful users.. They seem to be helpful users by giving out useless information with 1000's of indicators attached to chart and guarantee profits.. You can smell whats wrong with them easly after reading their posts.

Helpful people have ideology and roadmap to point right direction that they believe...
They dont guarantee any profit. They just share what they know..

Does this MapleLeaf guy knows math ? Who is he.. Does he code ? Did he shared anything related to trading analysis except saying its not working ? .. Its just not working for him.. There are many people doing pretty well with it

This guy have skenobi in his ignored list aswell. Which is another funny part
I hope he will add me there soon too !

Im here because of his sensless post against hanover..
Take it easy.
  • #40
  • Feb 26, 2018 8:35am Feb 26, 2018 8:35am
Quoting Quants
{quote} Thats another point , you can be in the game for 10 years keep practicing it in a wrong way and be very good at doing it wrong or even worse than 3 years one. If someone there for 10 years and still didnt contribute anything useful other than %99.6 and gambling there is issue already ).. He might just picked to not share what he knows or he doesnt know anything at all.. So which one is our guy ?.. The point is not only contribution.. While he didnt make any contribution he throwing knives to hanover with unlogical way.. So My years being...
Those who mind don't matter and those who matter don't mind. He cast a pearl among the knives. That's how you know where he lays. I'd suggest picking it up.
"The fun is in the hunt. Not the kill."
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