Just need a Direction for Training

Quoting MikeG

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Hi everyone! My name is Mike and this is my first post here. This seems like a really nice friendly forum. I just heard about forex a couple of weeks ago and have been surfing the web for more information. The only think I've acomplished is to get really, really confuesed. Who is Merlin? And which of his library books should I get first? You shold know that I have never done any daytrading so I know less than nothing. I hope you don't mind alot of really bad questions. I don't know if I can even do this because I don't know how much money I need to put in the bank/brokerage? I have about $700 that I would be willing to lose. Is that enough to learn with, if not how much do I need?

Thank you very much.

Mike

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Quoting ginx10k

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Merlin suggested to me at another post, to read http://www.amazon.com/exec/obidos/tg...books&n=507846 first. it's about the basics of Forex, which as far as I, a complete newbie to trading, can see is far more important than learning about strategies, money management, and psychology, at first. After you have read about The forex market basics then u should move on to the other books on trading. I tell u this, If I had read Market wizards, or the other books listed first, I would've been lost. You really need to know what Forex is, and what trading is, before u start reading about other ppl's success in it.

This is where I am right now, I've already ordered Van Tharp's book, "Trade your way to financial", I'm getting "Come into my Trading room" from the library, then I'm going to get some other books "new market wizards", "reminis of stock operator", "trading in the zone", and other books on Tech Analysis and so on and so forth. I'll keep reading and studying and practicing Forex for the minimum of 6 months before I put any actuall money into a Live account. I would suggest u don't listen to this Ronn person, because as far as I can see reading Books about this market is not a waste of time, it's time well spent.

That's my 2 pips worth, from one newbie to another newbie!
good luck!

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Quoting Ronn

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Hi.
I'm new on this forum but I sujest (suggest) that you wan't waist (don't waste) any time reading books. (no period) (, because)
it takes time (,) and time is money.
I'm ofering (offering) you (a chance to) try a great trading platform with (a) low initial deposit and demo trading with no risk at www.fastest4x(for dumbshits).com.
After you (have) tried the demo (please) review your books (What? I thought reading books was a "waist" of time) to purchase strategies.
(C) come back with questions.
(R) ronn. (You can't even capitalize your own name?)

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Quoting MikeG

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Hello Ronn,

After reading your post I felt like I had stepped in something and needed to clean my shoe. Why would that be? Oh, you must be one of those wonderful SPAMMERS I've heard so much about.

I see you have followed your own advice and have never read a book on spelling or grammar. Since reading books is beneath you, then perhaps you'll allow me to educate you. Please note the corrections I've made in the quote above.

Bye

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Quoting MikeG

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Hello Ronn,

After reading your post I felt like I had stepped in something and needed to clean my shoe.

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Quoting fijitrader

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I'm normally not one to do any name calling but I think the title of my post suits you just fine. Clearly you have no respect for the free forum and the rules that govern it. What you offer undoubtedly represents about as much value as your English skills.

FT

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Quoting fijitrader

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There were two lumberjacks who were chopping wood. One was average size and weight and the other one was about twice as strong and hefty as two men. The both started cutting wood about the same time and the strong guy was chopping about four times as much wood as the average guy but after a few days the average guy was way ahead and had chopped several cords more than the big guy even though they worked the same number of hours. Further investigation revealed that the average guy was stopping to sharpen his axe six periodically but the big guy was not.

Reading, studying and education are how we sharpen our minds. Anyone who says that time is money and discourages you from reading is a fool who has no idea how to invest anything much less how to make or invest money. I've been an investor all my life and no investor can survive who does not know how to invest his time. Don't listen to spamholes who come round here spouting such trash as this Ronn guy.

FT

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Quoting fijitrader

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Peter Bains course is really not a trading system but a course in pivot based tech analysis. It does not really provide you with a trading system which is one of the things that makes trading very difficult for new traders.

Here is an excerpt from another trader who commented about the course:


A new trader needs a system that provides a positive expectancy to keep trading with confidence. A new traders confidence is almost zero at first. It is mostly hope, vision of profits, and enthusiasm that gets him going and keeps him going till he loses some real money. Then, not knowing how to handle that, he/she makes some emotional trades that break the trading rules, this causes further losses which cause more emotional trading, and futher losses, and so on. Discretionary systems are often the worst kind of system for new traders because they provide no basis to keep trading. Every degree of freedom in a trading methodology multiplies the level of uncertainty a trader experiences. The discretionary nature of the system allows the trader too much latitude and that latitude is the first thing to get the trader in trouble. Where discretion may keep a pro out of trouble it gets a new trader in trouble.

Discretionary systems are the easiest to make courses with because there is no way a trader can ever legitimately say it does not work. Every trade that fails can be explained clearly after the fact. The trader often blames him/herself for not having the discipline to follow the rules but the rules are only clear after the trade is over and the so called "mentor" is explaining why the trade failed. Getting emotion out of trading is the hardest and highly discretionary systems are the worst for trying to trade unemotionally.

FT

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Quoting MikeG

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Mr. Fiji,

It is evident to me, not only from the content of your many excellent posts, but also from the rampant praise you have garnered on this forum, that you are indeed a gifted and caring trader. It is for this reason that I am disappointed when I see you make totally unnecessary, snappish, cynical replies such as the one quoted above. A soft answer turns away wrath, but sometimes the best answer is no answer at all. I am very appreciative for your generous contributions to this forum, but it bothers me that you seem so sensitive to minor criticisms. Please think before you bite, as it serves no purpose except to dim the light of this forum. Much of that light is because you're here, so don't be self-defeating by blowing out your own candle.

If you don't like my post just give me the benefit of the fact that I'm hot, tired and in need of a cold beer and a BJ.

Mike

P.S. I think "Ronn" and "rjb1024" are the same person.

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Quoting james16

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LOL!!! as i have said you will fit in here fine mike. this is not fij being mean. this is fijian humor. you should have been here during the flame wars when you could have seen fij actually going off, uh like me. takes a while to get a feel for mr. spock but its worth the wait. jim

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Quoting scpeter

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I love Fijis' posts, he is the best. Jim, do you think in about 2 or 300 years from now students will be studying "Fijian humor" ?

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Quoting ginx10k

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Hey, I'm completely new to this Forex Market stuff. and way before I jump into anything, I would love to read and get training. My question is, can someone just post here a good place to start for training. whether it's a book or a good training site. suggestions truly appreciated

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Quoting MikeG

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Why? I was just kidding around with you. But, if you truly did find it offensive then allow me to offer my apologies as no offense was intended.

Mike

(a.k.a. Michele,.......the BJ is for my other half when he gets home with the beer)

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