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Lessons learnt from forexfactory beginners forum

  • #21
  • Aug 16, 2007 9:41pm Aug 16, 2007 9:41pm
  •  MikeG
  • | Joined Aug 2005 | Status: Empowered to Profit by James16.com | 59 Posts
Quoting tth
I don't ignore anyone's comments. I read and digest them and see whether it can be applied suitably in my context.
Well, to be fair, tdion does have useful things to say on occasion. I'm just turned off by him/her because I perceive him/her as negative and cynical.

Sorry tdion, but that's how you come across to me.

Michele UU
I am an extremely satisfied customer of the James16 Group!!!
  • #22
  • Aug 16, 2007 9:46pm Aug 16, 2007 9:46pm
  •  MikeG
  • | Joined Aug 2005 | Status: Empowered to Profit by James16.com | 59 Posts
Quoting tth
I'm seriously considering joining the private forum but I'm so noob that I don't know whether its the correct time! I have not even had the confidence to demo trade yet.
No hurry. The PF isn't geared to absolute beginners, but to traders who know the basics but are tired of getting their teeth kicked in. So don't join until you are ready.

As for me, my track record in the twelve months before joining the PF was 2 winning months (barely) and 10 losing months. In the twelve months following, it was just the reverse.

Michele UU
I am an extremely satisfied customer of the James16 Group!!!
  • #23
  • Aug 16, 2007 9:49pm Aug 16, 2007 9:49pm
Quoting MikeG
No hurry. The PF isn't geared to absolute beginners, but to traders who know the basics but are tired of getting their teeth kicked in. So don't join until you are ready.

As for me, my track record in the twelve months before joining the PF was 2 winning months (barely) and 10 losing months. In the twelve months following, it was just the reverse.

Michele UU
Yup I'll keep that in mind! In the meantime I will continue reading and educating myself till im ready!
  • #24
  • Aug 16, 2007 10:13pm Aug 16, 2007 10:13pm
Hi tth and welcome to FF!
I do think you are approaching forex trading in a sensible manner and seem well prepared for the work that you have ahead of you. As you progress you will get a real feel of whether or not this pastime/lifestyle is for you. You will either get bored and disappointed or it will engulf you like it has many of us here. It is up to you at the end of the day.
I agree with tdion that a lot of new traders treat forex like a GRQ (get rich quick) money making business and when it doesn't produce they wander off and try something else...you see them all the time. Those that do hang around and work at it will eventually reach their goals and this is where I disagree with tdion as I do not think it is a matter of luck. It is more a case of perseverance and learning.
Neither do you have to blow up accounts or trade a system with 100% win loss just work it all out and have faith and believe in your abilities.

Good luck!
  • #25
  • Aug 19, 2007 1:44pm Aug 19, 2007 1:44pm
I agree with the posts about joining James16's private forum. Join when you are ready, but I HIGHLY recommend it.

Also, I would like to say that your post is a great example to newbies. You definitely are in the right mindset.


Clockwork71
  • #26
  • Aug 20, 2007 6:46am Aug 20, 2007 6:46am
Quoting tth
Introduction

I am currently in a college and have always been interested in banking and equities.......
TTH: IMHO your post is an excellent summary of the trading fundamentals presented here at the forum. I've been reading FF posts for around 12 months, and have not found it easy to assimilate the vast amount of information. I wish you all the best in your trading endeavors.

__________________________________

Quoting tdion
Hmmm.... thought I'd post something that's bothered me for awhile here.

I'm afraid many people coming to this forum treat it like an AMWAY business. They believe that they have ultimate influence over their success in forex.... that confidence and experience make you successful.... that internal discipline is the key to success.......
Tdion: For whatever my opinion is worth, I can't see anything in your post that warranted a personal attack. I see your views as being sensibly cautious, rather than negative. Complacency causes us to forget that trading is a negative sum game, that even the most successful traders experience losses, and that a vast percentage of new traders fail. Those are facts, not drivel. As you point out, profitable trading requires much more than positive thinking and internal discipline. If "method" was not a necessary part of the equation, the "Jim" and "Dial" parts of the James16 PF would be superfluous.

David
  • #27
  • Last Post: Aug 20, 2007 6:58am Aug 20, 2007 6:58am
Quoting hanover
TTH: IMHO your post is an excellent summary of the trading fundamentals presented here at the forum. I've been reading FF posts for around 12 months, and have not found it easy to assimilate the vast amount of information. I wish you all the best in your trading endeavors.

__________________________________



Tdion: For whatever my opinion is worth, I can't see anything in your post that warranted a personal attack. I see your views as being sensibly cautious, rather than negative. Complacency causes us to forget that trading is a negative sum game, that even the most successful traders experience losses, and that a vast percentage of new traders fail. Those are facts, not drivel. As you point out, profitable trading requires much more than positive thinking and internal discipline. If "method" was not a necessary part of the equation, the "Jim" and "Dial" parts of the James16 PF would be superfluous.

David
Very well said. (don't know whether I'm qualified to say that cos I'm a newbie!).

The only thing certain in life is uncertainty. Thats what I have come to realise... nothing is absolute. You can have the best mentors, best trading stations, best system. But fate has a strange way of getting the better of you sometimes.
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