I am Totally Lost

I guess you are generalizing that all successfull traders are quants, trader have different approaches, sometimes their approach require just some basic math.there are trader that take only five trades a year and other taking as much as 200 trades a day using EA's and at the end of the year they all made money. Personaly i dont see any reason why to have a high level of math background to become succeffull trader.

I have done this 10 year and my story is about same than this
wich can if really undertant (or want to undertant) how
is possible succes in money traiding.

Ewery new or even those who not able to keep in winning side
should read this treat

Peters help for newbies
http://www.forexfactory.com/showthread.php?t=39514

I agree all in 100% sure and same experience.

hanover you sure trading a year on demo is a good idea?

Would probably do more harm than good. We all know tradings 70% psychology, with pretend money in a pretend environment for 12 months where does psychology fit in? It might actually be working against you

You aren't testing your emotions. Anyway just my personal opinion.

Happy trading!

Hey Guys,

I've been patiently reading and absorbing every ideas that you guys have to give me.....

And I thank you so much for this inside.......

At this moment, I have already completed reading (babypips) grade 5, Common Charts Indicators again..... and have put a pause on other lessons and have been staring at my screen wondering why the Market is moving that way or this way and question why the MACD, Stochastic, RSI etc are showing what they are show.....

I appreciate if you guys will post more info, experience and most importantly honest reviews......


Once again Guys.....Thank you for your help......Without your reply, i've would have been lost still.....



Cheers

Read that peter treat first.


My opinion from experience is idicators lag too much
what ever nice indicator oscilator used it´s just tell what happen
before. But money will be maked not before it maked
after you press button.

If systems indicators work , so why cold numbers are 95%
lost they money only 5% win?

Sure there more than 5% who have try those and these nice sytems
with plenty nice indicators.

Basic knowing of markets helps a lot, suport resintance areas.
Key point where might happen something, key points
where is better do something else than traiding.

Unfortunatly there is no one fast and easy system
to make some cash.

Or if that possible ewery Janes and John do this and be millioners.
Because sure they read indicators saying buy now sell now,
but this is not so simple.

Other wich eventually makes traiders lost money
if over traiding in too short TF.
Longer tf´s are more clear and easy 4H, 1 D, 1W

Hard times coming and can do like i did learn it
hard way in 10 years.

Long time ago i did found some nice indicators
then awesome systems. But something was
wrong, i did not win money. Or yes i did win but i did loose same
back.

After 500 systems and 2000 indicators i did get idea that EA
is answer. Now i have test over 100 EA´s and not put
money to them not single penny. So that´s my trust to automatic
traiding.


One time some time ago i trade all day, night long win loose win loose
i did detroy my marriage ..no proplem now i have new wife 7 years yonger and better in any way.

Still i did not make any good money.

After few month pause i did read some nice articles
that price itself tell all same than any indicator without lag and
that traiding is actually "easy" if know right things.

Now i can say i win more than loose, sometimes
i still loose..this is endless learning road.

I don´t use indicators much anymore

Rsi oor macd just for look diverge not buy or sell signals.
I just look them from chart. And i trade 1 day charts
mainly.
and for "addict hobby" 4 hours with very small money.


After reading that peters treat i advice
to start read next 2 moth this nearly 3000 page treat
there is the "light" if can undertand it and follow plan
long time.

First it´s hard to read and undertand but slowly slowly
and bingo you get it.

james´s 16 tread
http://www.forexfactory.com/showthread.php?t=2331

Preach it.

I think the percentage depends on the individual, their approach, and their attitude toward money in general.

I've traded live before, and being up or down $10-$20 each week trading microlots didn't faze me, or interfere with my trading decisions. Microlots allow traders to phase in their emotions gradually, effectively bridging the gap between demo and 'higher-stakes-live'. I expect that many folk over-leverage themselves partly because they overrate their methodology/approach (or conversely, underrate the fickleness of the market), and partly because they see forex as an opportunity to 'get rich quick'.

Having said that, the beauty of forex is that it's completely scalable. I think the key is finding a level that one is totally comfortable with, and funding the account with money that one can easily afford to write off. As the old adage says "scared money never wins".

I've written an EA to exit my positions. So I enter the trade, turn the PC off, and go to bed.

But thanks for the timely reminder. I appreciate it.

don't learn in a textbook manner (like in school, 1st grade, 2nd ...) i believe its better what you did, jump from one topic to the next, so you can get an overview, to find a starting point in what suits you and you can easily connect to. it could be psychology, mathematics, entrepreneurship, statistics, history, gambling, fundamentals or wishful thinking.
then you start with the real work: reading, talking, thinking, writing, trading, testing, evaluate your progress and prepare yourself. you will find connections to other topics, which gets you interested in them and so on.

My best advice is the only way to take advantage and exploit something is to know everything you can about it. Never stop learning. Do you even know why the interbank market exists? Stocks? Bonds? Treasury Bills? Do you know how fractional reserve banking works? Do you know how the world economy works? Do you know about crowd pyschology? Do you know what MA/Stoch/etc all boils down to at their core? Do you know why currencies fluctuate? Do you understand inflation, deflation, interest rates and non farm payroll reports? Do you even care?

Some questions to ask yourself before you choose to get into this "game" (one of the many in life). Why? So if you lose a trade, you know exactly where you went wrong and why. Think of it as building a skyscraper. You can't be at the top with any of the foundation or middle ground and that is truly why most traders fail: an inability to be self reflective due to a true lack of understanding and knowledge.

Don't worry about technical aspects of trading right now. Concentrate on everything to do with trading, that isn't trading itself.

In a word....no.

But why should I?

I don't know if you ever get to watch Bloomberg but around market-moving events like FOMC they interview a selection of analysts and economists to get their views and opinions. Some of these guys are the sharpest minds in the business but even with all their knowledge and expertise they rarely agree with each other.

My point is that while all the things you mentioned might be interesting to know, they're not really going to help with making money. Market reaction to the majority of subjective market-moving fundamentals is too unpredictable, not to mention that data is often already priced-in.

If you want to learn forex perfectly you can practice on a demo account. It will help you to know all the basics of forex perfectly and properly. Besides, you can check your strategy on a demo account .

Don't trade demo .. well use a demo to learn the software etc how to put on trades etc once you know that straight on to live account with small small small trade sizes