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Would you help me???

  • #1
  • First Post: Jun 27, 2009 8:11am Jun 27, 2009 8:11am
Dear all trader at FF,
First I want to introduce myself. I live in Indonesia. I'm 34 years old but I just got fired from my job so I got jobless. I have read many good thread/system from this FF (about 6 month reading at FF). I really want to be a forex trader for my life,but I'm confused which one should I follow?

 

  1. I only have small money to trade, just about USD 200$ for the beginning.
  2. I want to use simple system or maybe no indicator at all if possible.
  3. If possible I need not very dangerous system

I really appreciated if anyone here would help me or being my mentor.

Please I need advice which system/thread should I follow.

 

  1. Ps: sorry for not good in english. thx everyone, enjoy weekend

  • #2
  • Jun 27, 2009 8:21am Jun 27, 2009 8:21am
My Advice -> Get a Job.

If you belive you can make money consitently with Forex Trading in less than 2 years you are
in the wrong game.
  • #3
  • Jun 27, 2009 8:25am Jun 27, 2009 8:25am
Quoting Tjpld
My Advice -> Get a Job.
He is looking for job here.
  • #4
  • Jun 27, 2009 8:27am Jun 27, 2009 8:27am
Quoting forexisfx
He is looking for job here.
Yeah Trading for a Living on a 200 Dollar Account. Come on....
  • #5
  • Jun 27, 2009 8:28am Jun 27, 2009 8:28am
Quoting Tjpld
My Advice -> Get a Job.
thanks Tjpld for your advice , anyway I want to trade maybe at micro lot only and I don't expect a lot of money since I have only small deposit. I just want a suistainable growth of my account.
I don't expect to be rich ASAP because I know forex is not a quick rich scheme.
  • #6
  • Jun 27, 2009 8:32am Jun 27, 2009 8:32am
1. Because you won't make any money with Forex Trading in a looong time.
2. You can't trade for a living with a measly 200 Dollars.


So you're first goal is to get money. So -> get a job.
  • #7
  • Jun 27, 2009 8:40am Jun 27, 2009 8:40am
Tj is right.

Would you expect to be hired as a Doctor or Lawyer or any other professional job without any experience? Or put it this way - would you give that $200 to someone else to trade it for you if they had no experience?

Trading is not something you can learn on your own, without a big enough bankroll or someone else to support you.

If anyone tells you different - laugh at them. Otherwise you will find yourself crying in your beer with the $200 gone.

Good luck.
  • #8
  • Jun 27, 2009 8:44am Jun 27, 2009 8:44am
My Bailout Plan for you.

1. Get a job that pays your bills
2. Put some money on the side
3. Spend every minute of your freetime with Forex
4. Create Demo accounts
5. Test
6. Test some more
7. Go in with just a little money
8. If you succede add some more money if not back to 5.
9. Continue to work at your day job.
  • #9
  • Jun 27, 2009 8:53am Jun 27, 2009 8:53am
Quoting Tjpld
My Bailout Plan for you.

1. Get a job that pays your bills
2. Put some money on the side
3. Spend every minute of your freetime with Forex
4. Create Demo accounts
5. Test
6. Test some more
7. Go in with just a little money
8. If you succede add some more money if not back to 5.
9. Continue to work at your day job.
dear tjpld thank you anyway for your advice. Sometimes I spend my freetime reading thread from FF. but I got confused which system suit to my condition because I'm sure many good systems in this website.
may I ask you question how much that I need to play in micro account anyway?
  • #10
  • Jun 27, 2009 8:57am Jun 27, 2009 8:57am
Quoting Tjpld
1. Because you won't make any money with Forex Trading in a looong time.
2. You can't trade for a living with a measly 200 Dollars.


So you're first goal is to get money. So -> get a job.
200 dollars (USD) is more significant in Indonesia than it is here (US). I'm not implying you can make a living from it though. On the contrary, it's too much to risk until you've proven yourself to be successful.
Learn the business try to find work meanwhile and save a little more money. When you've learned the business, you won't have to extract much from the market to live where you do, but you'll have to be consistent. That will take time and experience.

If you need to prove how difficult this is, open a micro account with 10 or 20 dollars and trade pennies or fractions of pennies. Your money will quickly be gone.

Until then visit the James16 thread.
  • #11
  • Jun 27, 2009 8:57am Jun 27, 2009 8:57am
Ronald, you may or may not get a mentor, however while you wait you will have to direct your own forex tradingcareer. Tjpld is right you need a job, whatever it is while you develop into a trader.

As such i hope you have done the followingIf not do it, it will help)

1) Go through the babypips (dot) com school, several times to absorb the
material. Also forex4noobs (dot) com
2) Read all of the articles in:
Forex FactoryForumsRookieDiscussionForex Articles
3) Open a demo account
4) Develop your own strategy and system, this is a personal matter for
which you and you alone will be able to develop. An aid to this is by
reading and using the systems that others have developed. You will
soon begin to see what works for you and what does not as you will begin
to develp a sense of what time frames work you (i.e., 1hr, 4hr time
frames) and what type of trader you will become. Why re-invent the wheel
when you can learn from others.

Also the "Newbie Island" forum on babypips (dot) com is a great place for newbies, read the threads by Tymen1, Phil838, NickB, ThePhoenix. Especailly Tymen1 if you want to learn, you cannot go wrong by learning from Tymen1.
I only say this because apparently if you have been reading this froum for 6 months you missed a vast wealth of knowledge on this forum that can overshadow any education you could get anywhere else!

Also, a great way to start is to pay attention to the "Trading Systems" forum. When someone starts a new thread about a system, follow along and learn from them. They actually can become a mentor to you just by the nature of the thread! Also read the 5Star threads in the "Trading Systems" forum.

If you have noticed on this forum many traders from both forums, Forex Factory & Babypips will advise new members to go to both of these forums.
  • #12
  • Jun 27, 2009 8:57am Jun 27, 2009 8:57am
Quoting SunTrader
Tj is right.

Would you expect to be hired as a Doctor or Lawyer or any other professional job without any experience? Or put it this way - would you give that $200 to someone else to trade it for you if they had no experience?

Trading is not something you can learn on your own, without a big enough bankroll or someone else to support you.

If anyone tells you different - laugh at them. Otherwise you will find yourself crying in your beer with the $200 gone.

Good luck.
thanks for your advice. I know,so I learn by reading threads from FF, do virtual trading to increase my experience. But my question is which system should I use as newbie? I start $200 just to increase my experience and I don't expect a lot of money form my little deposit..thanks for your attention
  • #13
  • Jun 27, 2009 9:03am Jun 27, 2009 9:03am
There are no systems especially for newbies.
You can't make any money as a newbie. Period.

@billflet

Good point.
  • #14
  • Jun 27, 2009 9:08am Jun 27, 2009 9:08am
Quoting billflet
200 dollars (USD) is more significant in Indonesia than it is here (US)....
thanks billflet for your reply. Yes you are right, 200$ in my country is very significant.FYI many of people here get less than $100 for a monthly salary. so your advice is to learn James 16 thread? thanks alot
  • #15
  • Jun 27, 2009 9:20am Jun 27, 2009 9:20am
Quoting rtv2
Ronald, you may or may not get a mentor, however while you wait you will have to direct your own forex tradingcareer. Tjpld is right you need a job,...
thanks rtv2 for your advice. I have read only at FF forum. I will read babypips.com ASAP. I have already make a demo account too. I agree with your statement" Why re-invent the wheel
when you can learn from others", so I want to learn from others experience trading. I also read a lot of system that got 5 star so I get confused which should I choose ? thanks anyway for your attention.
  • #16
  • Jun 27, 2009 9:30am Jun 27, 2009 9:30am
Quoting ronald_fsm
200$ in my country is very significant.FYI many of people here get less than $100 for a monthly salary.
So if $200 is the equivalent of a couple of months salary, then you still need much more.

More like the equivalent of a couple of years worth of salary.

Otherwise consider $200 is learning and not earning money.

Experience gained = time spent learning. There is no shortcut.

Babypips/etc and all the threads mentioned here are a good start.
  • #17
  • Jun 27, 2009 9:39am Jun 27, 2009 9:39am
Quoting SunTrader
So if $200 is the equivalent of a couple of months salary, then you still need much more.

More like the equivalent of a couple of years worth of salary.

Otherwise consider $200 is learning and not earning money.

Experience gained = time spent learning. There is no shortcut.

Babypips/etc and all the threads mentioned here are a good start.
Yes if 200 USD is a good monthly salary.
You'd still need at least 10.000 USD to make that if
you gain 2% a month -> 26% a year which is quite some ROI.
  • #18
  • Jun 27, 2009 9:46am Jun 27, 2009 9:46am
Quoting SunTrader
So if $200 is the equivalent of a couple of months salary, then you still need much more.

More like the equivalent of a couple of years worth of salary.

Otherwise consider $200 is learning and not earning money.

Experience gained = time spent learning. There is no shortcut.

Babypips/etc and all the threads mentioned here are a good start.

thanks for the reply . Yes i want to begin a live trading for a little deposit and play in micro or maybe nano account. I just want to improve my trading first before I add more deposit. I don't expect to be rich from the deposit i made but i need a suistainable growth of my account. any advice are welcome and I appreciate your kindness. thx
  • #19
  • Jun 27, 2009 9:59am Jun 27, 2009 9:59am
Quoting Tjpld
Yes if 200 USD is a good monthly salary.
You'd still need at least 10.000 USD to make that if
you gain 2% a month -> 26% a year which is quite some ROI.
thx tjpld. anyway I don't expect $200 for my monthly income right now. ok one simple question to you: which system do you recommend or which system do you think should I use if I want use simple system?.(as simple as possible.) thanks for your attention.
  • #20
  • Jun 27, 2009 10:00am Jun 27, 2009 10:00am
Quoting ronald_fsm
I spend my freetime reading thread from FF.
That's probably your biggest mistake!

Realize that more than 98 out of a 100 of people who pump out the same old repetitive well-worn advice over and over ad nauseam, or who follow strategies and advice found on trading forums, lose money. Take a look any weekday and see how many people are logged in and reading the strategy threads, it's pitiful to see so many people chasing a dream but so very few ever likely to make it reality.

The majority lose, don't follow the herd or their mentality!
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