Hello to all thread watchers hope all is well and having a great day.
I just want to introduce myself as the unknown Trader. been trading for 4 years brilliant job, I just want to express what I think all new beginners or new forex traders should understand before stepping into the world of forex as to me If I knew what I know now I think maybe I may have stayed in my 8-6 job and never looked at forex again.
Sure it is appealing the money the success, No boss, No meetings, Nothing just you and the computer trading.
Firstly I want to talk about the job itself as it can be very difficult to do, If you are a new trader reading this or wanting to step into the world of forex Keep reading.
The job is very difficult if you are just playing around learning but once you get that learning under your belt you are of the leash and ready to rumble. But Honestly in my opinion it was and still can be very tuff and times when price doesn't go your way and you are getting annoyed because all you want to do is earn a daily wage get of the charts and leave. That is understandable. When you get into trading you will go from one strategy to another, I promise you it is like that. NO you will not find the 100% System doesn't exist if it did the government will have it.
Keep things simple, What I mean is you can have 5 indicators on a chart and be successful of course, its not what works for everyone else it is what works for you. If MA works for you brilliant if TDI works for you brilliant its all down to your very own ability to keep going and not stop.
Do not be fooled into getting scammed so many scammers out there waiting to grab you're very hard earned money just so they can show it off on social media these are the people who get rich quick the scammers not forex.
Starting balance - This is a very tricky question - If you are profitable and you found something knowing you can make 20% a month 10k will be enough compound it for 5 months and so on -
courses/signals - What I find annoying is many things in my time trading yes I joined courses 2 good ones, whom say this is the strategy brilliant you get it down to a tee kind off and for beginners you want a little bit of help to grow your account. So I mentioned about showing it live when they enter (because the strategy so profitable) they will say No its against our values blah blah blah, None out there on a course actually wants to help you at all.. They just want you're money... Same goes with signals, all shit. (So be careful when looking into forex you can be very hard done by within a matter off days) - listen because TOM says it works for him and its the best thing to ever exist doesn't mean it will for for DICK AND HARRY - plus if you are about to pay for a course HMU I have a link to all free courses you can think off! learn that way.
Brokers - When choosing a broker always make sure they a fully regulated within your country or state as you will want to make sure money is safe and no surprise candles. (FXPRO) UK (Oanda) USA My recommendation- if you are reading this and look into these companies you will say oh there leverage is shit no I want 1:500 because I want to be a millionaire tomorrow you won't you have more chance becoming homeless 99.999999% of the time than a millionaire. Always do you're very own research as it can be very beneficial in the long run.
TP SL - When you start trading always make sure you set a SL if you don't and you don't and don't have a good broker say bye bye to you're funds. TP is great as well if you have to step away form the computer and you do not want to miss a price that it may go down to. Learn how to execute orders on MT4/MT5 before thinking you can trade, Very easy go onto YouTube.
Feelings, - If you have started trading a real account or about to have fun don't be taking to seriously you will feel a lot of emotion - When I started I said oh I won't feel emotion but I sure did still sometimes do but I laugh and just walk away best thing there is to do, do not fight the market. because the market will always win in the long run. You will feel left out very much its a very lonely place to be especially if you are loosing or lost in the day when family come home and look at you and say how much did you make - it can be very difficult, my advice would be take it slow and steady, You will get bored some days where you do not want to trade especially if you have had a couple losing days. Just have to keep your head held high and keep rolling with the charts to wait for an opportunity. Some days you will feel like you cannot do it but deep down you can you just need to know what's best for you.
Control, Keep control of everything you are doing if you earn £20 in a day its a bonus you will feel okay but don't beat yourself up honestly.
What I am saying is from what I know now - Maybe 100% I would have stayed in my original job even though it was less money I still had freedom why? Because trading takes up your life its not freedom like everyone says it can be if you catch 30 40 50 60 pips in the morning making £2000 then off you go brilliant but 8/10 doesn't happen unless someone has something that does do that then brilliant.
If anyone wants to talk because they feel down or want a bit of advice
I am available
Kind regards
The unknown Trader
I just want to introduce myself as the unknown Trader. been trading for 4 years brilliant job, I just want to express what I think all new beginners or new forex traders should understand before stepping into the world of forex as to me If I knew what I know now I think maybe I may have stayed in my 8-6 job and never looked at forex again.
Sure it is appealing the money the success, No boss, No meetings, Nothing just you and the computer trading.
Firstly I want to talk about the job itself as it can be very difficult to do, If you are a new trader reading this or wanting to step into the world of forex Keep reading.
The job is very difficult if you are just playing around learning but once you get that learning under your belt you are of the leash and ready to rumble. But Honestly in my opinion it was and still can be very tuff and times when price doesn't go your way and you are getting annoyed because all you want to do is earn a daily wage get of the charts and leave. That is understandable. When you get into trading you will go from one strategy to another, I promise you it is like that. NO you will not find the 100% System doesn't exist if it did the government will have it.
Keep things simple, What I mean is you can have 5 indicators on a chart and be successful of course, its not what works for everyone else it is what works for you. If MA works for you brilliant if TDI works for you brilliant its all down to your very own ability to keep going and not stop.
Do not be fooled into getting scammed so many scammers out there waiting to grab you're very hard earned money just so they can show it off on social media these are the people who get rich quick the scammers not forex.
Starting balance - This is a very tricky question - If you are profitable and you found something knowing you can make 20% a month 10k will be enough compound it for 5 months and so on -
courses/signals - What I find annoying is many things in my time trading yes I joined courses 2 good ones, whom say this is the strategy brilliant you get it down to a tee kind off and for beginners you want a little bit of help to grow your account. So I mentioned about showing it live when they enter (because the strategy so profitable) they will say No its against our values blah blah blah, None out there on a course actually wants to help you at all.. They just want you're money... Same goes with signals, all shit. (So be careful when looking into forex you can be very hard done by within a matter off days) - listen because TOM says it works for him and its the best thing to ever exist doesn't mean it will for for DICK AND HARRY - plus if you are about to pay for a course HMU I have a link to all free courses you can think off! learn that way.
Brokers - When choosing a broker always make sure they a fully regulated within your country or state as you will want to make sure money is safe and no surprise candles. (FXPRO) UK (Oanda) USA My recommendation- if you are reading this and look into these companies you will say oh there leverage is shit no I want 1:500 because I want to be a millionaire tomorrow you won't you have more chance becoming homeless 99.999999% of the time than a millionaire. Always do you're very own research as it can be very beneficial in the long run.
TP SL - When you start trading always make sure you set a SL if you don't and you don't and don't have a good broker say bye bye to you're funds. TP is great as well if you have to step away form the computer and you do not want to miss a price that it may go down to. Learn how to execute orders on MT4/MT5 before thinking you can trade, Very easy go onto YouTube.
Feelings, - If you have started trading a real account or about to have fun don't be taking to seriously you will feel a lot of emotion - When I started I said oh I won't feel emotion but I sure did still sometimes do but I laugh and just walk away best thing there is to do, do not fight the market. because the market will always win in the long run. You will feel left out very much its a very lonely place to be especially if you are loosing or lost in the day when family come home and look at you and say how much did you make - it can be very difficult, my advice would be take it slow and steady, You will get bored some days where you do not want to trade especially if you have had a couple losing days. Just have to keep your head held high and keep rolling with the charts to wait for an opportunity. Some days you will feel like you cannot do it but deep down you can you just need to know what's best for you.
Control, Keep control of everything you are doing if you earn £20 in a day its a bonus you will feel okay but don't beat yourself up honestly.
What I am saying is from what I know now - Maybe 100% I would have stayed in my original job even though it was less money I still had freedom why? Because trading takes up your life its not freedom like everyone says it can be if you catch 30 40 50 60 pips in the morning making £2000 then off you go brilliant but 8/10 doesn't happen unless someone has something that does do that then brilliant.
If anyone wants to talk because they feel down or want a bit of advice
I am available
Kind regards
The unknown Trader
