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Advise and Guidance for a NEW FOREX guy 11 replies

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New Guy Here...

  • #1
  • First Post: Dec 23, 2007 4:29pm Dec 23, 2007 4:29pm
Hi guys, I hope everyone is having a great holiday weekend. I've just started researching the Forex Market, and man is this going to take some time. I've been playing online poker for the last couple years as part time income but recently gave it up due to the gambling restriction holds the US has been putting us through. Hopefully that will work out in the long run, lot of money to be made there. I just started the book entited "Forex Revolution" and I believe it is going to be a good stimulator to open my mind up to some of these now foreign concepts to me. Along with Babypips.com I think this will serve as a good crash course into the market. I then plan on demo trading for atleast 6 months. The way I figure it I have at least another year before I will be moving any real money through the market. MM to me is paramount. I've been reading Jacko's House of Pain thread religously lately. What others do you guys suggest as winners? Well hope to talk to you ppl soon. Have a safe holiday weekend.
- Tony
  • #2
  • Dec 23, 2007 6:03pm Dec 23, 2007 6:03pm
Quoting Shining Star
Hi guys, I hope everyone is having a great holiday weekend. I've just started researching the Forex Market, and man is this going to take some time. I've been playing online poker for the last couple years as part time income but recently gave it up due to the gambling restriction holds the US has been putting us through. Hopefully that will work out in the long run, lot of money to be made there. I just started the book entited "Forex Revolution" and I believe it is going to be a good stimulator to open my mind up to some of these now foreign concepts to me. Along with Babypips.com I think this will serve as a good crash course into the market. I then plan on demo trading for atleast 6 months. The way I figure it I have at least another year before I will be moving any real money through the market. MM to me is paramount. I've been reading Jacko's House of Pain thread religously lately. What others do you guys suggest as winners? Well hope to talk to you ppl soon. Have a safe holiday weekend.
- Tony
Welcome to Forex Factory. I think Forex Revolution and babypips.com are 2 great places to start. Those are typically the 2 sources I mention for beginners. It's never too early to work on your psychology so I would get a copy of Trading in the Zone by Douglas and for money management I would pick up a copy of Trade Your Way to Financial Freedom by Tharp. For technical analysis I would look at Pring or Murphy. Best wishes on your journey.

Happy Holidays to you as well.
  • #3
  • Dec 23, 2007 6:26pm Dec 23, 2007 6:26pm
Quoting philmcgrew
Welcome to Forex Factory. I think Forex Revolution and babypips.com are 2 great places to start. Those are typically the 2 sources I mention for beginners. It's never too early to work on your psychology so I would get a copy of Trading in the Zone by Douglas and for money management I would pick up a copy of Trade Your Way to Financial Freedom by Tharp. For technical analysis I would look at Pring or Murphy. Best wishes on your journey.

Happy Holidays to you as well.
Thanks a lot buddy. I just added those two books to my wishlist also. Sorry for posting in the wrong forum earlier.
  • #4
  • Dec 23, 2007 11:11pm Dec 23, 2007 11:11pm
Your off to a good start. Your willing to seek training, you have a good attitude and your on the right forum. Look at the beginners section and read the threads that have been posted previously. If you get bored with all of the reading, go to the members section and read the comedy thread.

Wish you Happy Holidays
  • #5
  • Dec 23, 2007 11:19pm Dec 23, 2007 11:19pm
Quoting WHTenn
Your off to a good start. Your willing to seek training, you have a good attitude and your on the right forum. Look at the beginners section and read the threads that have been posted previously. If you get bored with all of the reading, go to the members section and read the comedy thread.

Wish you Happy Holidays
I'm glad you took the time out of your day to respond to my thread. After all the views it takes something extra for a person to post a response, that a lot of others have overlooked. I will diligently be studying every post I come across.
  • #6
  • Dec 27, 2007 6:08pm Dec 27, 2007 6:08pm
Ah, another newcomer like myself. I too have just begun to research forex a couple of months ago; it's quite a lot to grasp! Babypips.com is a good overview (I thought, anyway), but there is so much more to learn. I found some good trading principles in a book called Trading as a Business by Charlie Wright. (Just google the title and you can read it online).

It sounds like you have a good head on your shoulders; Good Luck!
skype: ststroud. let's talk trading.
  • #7
  • Last Post: Dec 28, 2007 3:44am Dec 28, 2007 3:44am
From here, take at least one year of training before opening a real account
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