The real Basics - how to start and how avoid the traps

First I show what I am able to see. You can watch a naked chart and cover a way to go in a trade. What can you see over and over again, what are your details you are able to spot? If you have it, can you build a routine for it? As in the first pages, one chart can have several options to trade and this I will show. My examples only one of many that are visible. No need for indicators.

Now we go over again to the training. Have fun.

Learn to trade is not tough. Learn to trade must not be cost several years.
Tough is to go through all the mess, find the own way, the own view, the own details that count for YOU.
If you are able to take this points in your learning, you will far more faster reach a stable trading.

If you have trouble to start, you can for sure get some clue from existing material, BUT make you clear that the most you will find, is true misleading and time wasting.
Better start with a clean start and not come back after years, exploring indicator setups.

One of the thing that make trouble in the starting days, is to find a calm way. Waiting and inactivity are not that new trader think about.
Waiting? Why? So many action on the chart yet! I miss so many setups, if i do not trade YET!

Yes you can trade all the time, if you can build the routine for it. And as said earlier, this is only one way to interpret a chart. I am fine with drawing my formations and set alert for it. In the meanwhile i can ignore most of the time my pc, have only a few time a look to find new formations on the way. Understand it only, that this is not a golden rule to read a chart.

Make sure you find your way and define it for your needs.

It is no lie that some new traders are tricked when they join forex. i as almost tricked once into believing false information. That is why I always recommend that you trust yourself first before anyone else. This threads are supposed to be about us helping each other and discussing valuable imformation that will go along way in oiur trading journed. Some people are however spreading false information. Do not just follow what another person has said untill you have proven that it does work. Relly on others but relly on yourself first. When it comes to the strategies you should employ your own unique strategy. Do not copy what the others are doing. They work differently for different peoople.

Please pick up the training and post your drawings. Only if you practice you will be one of the few who are making money from trading.
Reading alone will not lead to a good way.
Last training you will find in post 202, or pick up from the earlier one.

I show now my way, but will not transform this thread in a showcase. I will reduce it now to post new training charts. The last posts was only to bring this thread back in mind and give something that will help to start. Far better examples are in the starting days from this thread, from some good people here.

And again ... only waiting after the drawing. Set alert and have had my trade for today. Sorry for all who using a bunch of indicators and useless tools.
Many traps on the road and new trader most drive blind into it. Keep care.

Hello Michael,

I wonder if I can continue this thread and post a new pic to work with?

Discipline impact mostly at trader’s decision making. Lack of discipline can hamper your perfect trading plan.

Yes, Having a personal descipline is very important because it gives you the boundaries of operation. It is a good thing to have a personal descipline especially in the field of forex trading. It will help you to expand the market hence you may not be discouraged when you encounter something that is unique, You can also develope trusworthiness with the beginners.

XAUUSD

The search is indeed over.

All time classic, rinse, repeat.

People, i see over and over again some false information about the hitrate of a strategy. It is useles to define a strategy as useful having 50% or more hitrate. What does it mean, how many trades are done before label it 50% + strategy. And will it be in future give over 50%, who tell you it will ever be above 50%?

Sorry clear crap, really crap!

If you have a loosing series of five trades and you loose 5% if you go with 1% for a trade (means not it is brilliant, only for pointing it out here) and after that you are definitly on the right road you put more trades in the driving and be say 10% in profit.
Hell what?! Five trades are loosers and only one trade is a clear winner? Move fast away, really fast!
Will this say anything about the method? Nothing can be said here, must a good one if we have made more money as lossing it!
It comes every time to the critical point. How do you manage risk?

What's wrong with the layout, bro?

These tips can be of great use to those who is in the beginning of their trading path.
I do really agree with the fact that the first thing to learn should be the charts themselves without any strategies and indicators in order to be free from some other informational noise. However, I think that the suggestion about drawing the lines on the paper is a little bit overexaggerated. You definetely should draw anything because it doesn't mae sense. Just look at the charts and try to analyze them, you should have some theoretical background to do it, actually. It will make no sense to look at the charts and spoil your eyesight without understanding a thing of what is going on.
In the very beginning you should also read and think of money and risk management. These are the tools which will secure your budget from blowing up in the future. More than that, in the beginning of trading real account, you'd better think about how to preserve the money that you've invested, rather than thinking of how to make a fortune in 5 minutes. Set your expectations right and your psychology will be safe from emotional roller coaster.

.. alone if you can see this setup will you make enough money, much money you never again be a slave of you day job.