The Newbie Process | Forex Factory

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The Newbie Process

  • #1
  • First Post: Dec 24, 2008 8:00pm Dec 24, 2008 8:00pm
Hey all,

Not a newbie on here, but a newbie to trading, as i've never been able to nail down a strategy that im confident to go live with.

At what point did FX click for you?

I'm making a list of all the angles i need to analyse including research on Tech/Fundemental analysis, which broker, which currency and so on - but there is so much information out there!?

Thanks

Merry Xmas
  • #2
  • Dec 24, 2008 8:10pm Dec 24, 2008 8:10pm
I started to do well recently,

Try thinking in reverse a little, instead of thinking what the market will do, think about what it wont. As I am at the moment PA&SR is all I look at. Its just a thinking game, Im not saying ive cracked it, but if it turns out what im doing isnt long-term profitable then Ill just have to get thinking/reading/learning again.

GL and Merry Christmas,

Leon
Living the adventure in my head.
  • #3
  • Dec 25, 2008 12:39am Dec 25, 2008 12:39am
Many people in the modern world are addicted to this click thing. Unfortunate.
Life's short and nothing's perfect - get over it and do your thing.

In paraphrase to this issue here, as a respected FF member called Acumen says - double your demo account, then do the same with a small real account - using realistic mm of course, if you managed that - congrats you probably can trade - just keep doing the same thing all over again and again and again. I personally would say that you should start with the small real account right away as you learn a lot faster with real money even if it's just scraps for you (certainly don't go live with anything more than that before you think you can really trade by achieving what I mentioned above).
On the path to Enrichment.
  • #4
  • Dec 25, 2008 7:39am Dec 25, 2008 7:39am
Quoting Jurrasic
I personally would say that you should start with the small real account right away as you learn a lot faster with real money even if it's just scraps for you (certainly don't go live with anything more than that before you think you can really trade by achieving what I mentioned above).
I agree with this.

However, I would explicitly add the warning that you are very likely to blow up your account a few times in the learning process.

In a way, as long as you keep the dollar value small, this is a good thing. One of the ways we learn effectively is through our mistakes -- and losing real money makes us pay very close attention to what we did wrong.
nav++
  • #5
  • Dec 25, 2008 7:53pm Dec 25, 2008 7:53pm
Quoting Kwackers
At what point did FX click for you?
It clicked for me when I read both the J16 thread and the Jacko threads. The charts on the first 10 pages of the J16 thread will teach you MORE than enough. Both of these threads helped me think of Forex as a long-term investment and how simple it can be (no need for a million indicators on one chart).

I'm still no expert, but reading those two threads and then learning more about Money Management and Risk/Reward ratios has really brought my understanding along very quickly.
  • #6
  • Last Post: Dec 27, 2008 10:46am Dec 27, 2008 10:46am
Thanks for the reply.

I understand the whole going live thing etc, but that wasn't really what my post was about.

My problem is i don't seem to find anything that i can consistently grab some pips from.

Quoting Jurrasic
Many people in the modern world are addicted to this click thing. Unfortunate.
Life's short and nothing's perfect - get over it and do your thing.

In paraphrase to this issue here, as a respected FF member called Acumen says - double your demo account, then do the same with a small real account - using realistic mm of course, if you managed that - congrats you probably can trade - just keep doing the same thing all over again and again and again. I personally would say that you should start with the small real account right away as you learn a...
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