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Difficult FX

  • #1
  • First Post: Edited Jul 21, 2007 12:58pm Jul 20, 2007 6:42pm | Edited Jul 21, 2007 12:58pm
All of us in our journy to become a succesful trader have tried a lot of

systems (trading systems). we have searched for a profitable system .

but no body could find a proftable one . why ?

FX is like living , no one can tell us if everyday you do same things

you will achive your goals .

FX market is not something simple which I can tell you should do this and

that and you will gain profit .

you have seen a lot of examples like this :

{
If EMA (X) and EMA (Y) crossed and after break out of M30 candle and

at 32.8 % of last move and if we are at wave 2 (ELLIOT) and ...

then BUY and target will be ....
}

These kind of instructions will never lead anyone to success .

learning FX is like learning an art or sport .

imagine you dont know anything about oil painting and someone

tell you if you do these instructions you can draw a beatifull picture .

of course you can`t make it .

much time needed to become a good artist.. every week you learn new

things your brain gradually learn how to do it .

trading FX is of course something like painting but harder. you should

learn it gradually and a set of instructions will not make you a trader. there is no shortcut .

Dont believe these kind of terms "TRADING IS EASY !"

yeah if learning german is easy then tarding is easy .

good luck .

Ramin


  • #2
  • Jul 24, 2007 3:53pm Jul 24, 2007 3:53pm
Quoting oedipean
All of us in our journy to become a succesful trader have tried a lot of

systems (trading systems). we have searched for a profitable system .

but no body could find a proftable one . why ?

FX is like living , no one can tell us if everyday you do same things

you will achive your goals .

FX market is not something simple which I can tell you should do this and

that and you will gain profit .

you have seen a lot of examples like this :

{
If EMA (X) and EMA (Y) crossed and after break out of M30 candle and

at 32.8 % of last move and if we are at wave 2 (ELLIOT) and ...

then BUY and target will be ....
}

These kind of instructions will never lead anyone to success .

learning FX is like learning an art or sport .

imagine you dont know anything about oil painting and someone

tell you if you do these instructions you can draw a beatifull picture .

of course you can`t make it .

much time needed to become a good artist.. every week you learn new

things your brain gradually learn how to do it .

trading FX is of course something like painting but harder. you should

learn it gradually and a set of instructions will not make you a trader. there is no shortcut .

Dont believe these kind of terms "TRADING IS EASY !"

yeah if learning german is easy then tarding is easy .

good luck .

Ramin


Hi Ramin,

I hope that your negative experiences have not caused you to give up on becoming a trader. But you are right on the money when you say that learning to trade profitably is not easy.

Look folks it's been said time and time again that "There is no HOLY GRAIL" this is so very true to a point. Everyone has within themselves there own holy grail.

There are so many shovel sellers out there feasting on newcommers to the market. They entice you with the idea that you can open a Forex account with a couple hundred bucks and be a millionaire in no time by following there super easy system.

Look if that were the case then everyone would be rich just by following that one persons system and the 90% of failed traders would drastically turn to 90% of winning traders.

Beware of the shovel sellers I tell you! Do not become a victim of their propaganda.

Learning how to trade is the same for everyone no matter what race or creed. You need to read and study, read and study, ready, study and practice, practice and practice and practice and well you get the idea. If you are luck enough to befriend a successful trader you may have the ability to cut down the initial learning curve concerning indicators and market movement but the path to becoming a trader is the same as previously stated.

Pick up a quality book by some of the masters in this industry, Schwager, Pring, and Elder. Apply what they show in their instruction to real time markets. No not real money but demo. Come here to the FX Factory and ask questions to seasoned traders. And learn to develop your own style of trading using those tools.

You will then be well on your way to becoming a profitable trader and working with your own holy grail.

Best regards,

Steve
Nothing is impossible, with a willing mind!
  • #3
  • Jul 24, 2007 8:03pm Jul 24, 2007 8:03pm
Quoting oedipean
trading FX is of course something like painting but harder. you should

learn it gradually and a set of instructions will not make you a trader. there is no shortcut .

Dont believe these kind of terms "TRADING IS EASY !"

yeah if learning german is easy then tarding is easy .

good luck .

Ramin

A couple of comments on a good post -
1)Learning how to paint badly is very easy. Learning how to paint well is much harder than FX, simply because there are always many more critics than painters, while in FX it's just you and the market...

2)You can always learn how to speak another language adequately. My French teacher taught me this many years ago, when he used to say there were millions of people all over the world speaking French, and - pointing at me - would add "and a few of them MUST be dumber than you"
  • #4
  • Jul 24, 2007 8:25pm Jul 24, 2007 8:25pm
But you are not a loser.

Mantra

- I will accept my losses.
- I understand that losing is just part of the game.
- I know that as long as I have a fear for losing, I have a problem.
- I will tweak my midset to accept the fact that I will face losses.
- I know losing is inevitable no matter what my system is.
- I will keep in mind that losing one fight is just another step to winning the war and I will win this war.
- I am not here to lose big, I shall control my losses, its just a bad business day.
- I am a pro with my art.
- I believe in myself my system and our abilities.
- I am a winner
- I am a winner
- I am a winner
Amen.
  • #5
  • Jul 25, 2007 4:37pm Jul 25, 2007 4:37pm
Actually, you are just speaking for yourself. There are profitable systems out there.... just continue your search and you will find one.

Good Luck

Quoting oedipean
All of us in our journy to become a succesful trader have tried a lot of

systems (trading systems). we have searched for a profitable system .

but no body could find a proftable one . why ?
  • #6
  • Edited Jul 26, 2007 12:09am Jul 25, 2007 11:46pm | Edited Jul 26, 2007 12:09am
I have been trading for over 2 years. I learned of the Vegas Tunnels early on but would always look for something better. I always found myself going back to the tunnels. This might or might not be what you are looking for but no matter what, you can't discount the power of that tunnel. Even if you use it as a base (determine if you are in a bear or bull market), The Vegas Tunnels are effective. See the link below if you need the manuals.

Link removed
  • #7
  • Jul 26, 2007 4:40am Jul 26, 2007 4:40am
Quoting oedipean
These kind of instructions will never lead anyone to success .
learning FX is like learning an art or sport .

imagine you dont know anything about oil painting and someone

tell you if you do these instructions you can draw a beatifull picture .

of course you can`t make it .
Say to yourself, "I've been doing this all my life". Say it until you believe it!!

Have you got your style? Well, I have! Regarding the definition of "style", I highly recommend "Market Wizards" written by Jack D.Schwager.
Peace and Happiness through Prosperity (by Konosuke Matsushita)
  • #8
  • Last Post: Sep 12, 2008 4:12am Sep 12, 2008 4:12am
Thanks for all good comments specially Steve answer,

I have started trading Fx since Jan or Feb 2005 , like most of people after 1 or 2 weeks of demo trading , deposit small amount of money (300$) and started to trade (play).

You know whats happened , yes . this 300$ became 2$ after 2 month .
I understood , its not that much easy and much effort needed.

And like others started to read , john Morphy technical analysis was first book . and beside reading I was attracted by hundreds of systems .

I have read this books :
trading chaos bill williams
Mark Douglas Trading in the Zone
Joe Ross The Law of Charts
joerosss Traders Trick Entry
Strategy10 W. R. Booker & Co
Forex Trading with Candlestick and Pattern
Stop Losses Are For Sissies
new trading dimension by bill williams
Beyond Candlesticks
FX Power Trading Course
Pesavento , Larry Fibonacci Ratios with Pattern Recognition
Carney,ScottM The Harmonic Trader
Dynamic trader Robert miner
and of lots of small PDFs

when I read bill Williams trading chaos , I started too run (in street ), lots of new horizons were opened to my eyes .

First time when I read mark Douglas book (trading in the zone ) , I told to myself what was that ! it was just wasting of time . but after two years I read it again and i jumped , mark Douglas book was what i exactly needed . it was a real gold mine . you should be ready, if you are not ready , you can't understand it.


The best book I have ever read was Dynamic trading by r. miner which It really inspired me. I cant tell how precise this book is. it will introduce you real market conditions .


I will continue this topic and what happened to me in few days .
..
Ramin
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