Attachments: Help for Newbies (Discussion Thread)

Help for Newbies (Discussion Thread)

#241
Dec 11, 2009 7:50am Dec 11, 2009 7:50am

pj.waterloo
| Joined Nov 2008 | Status: Trader | 111 Posts

Quoting PeterFM

Disliked

I am using Alpari in the UK and will be going live with them in the New Year (2010) and ...

Ignored

Hello PeterFM

If you may, pls. offer your comments on ODL UK, FxPro UK and GoMarkets Australia?

I am in fact also planning to open a live acct in 1st quarter of 2010.

Thank you for your time.

#242
Dec 13, 2009 7:25am Dec 13, 2009 7:25am

antgal23
| Joined Dec 2009 | Status: Trader | 390 Posts

Hi PeterFM

A big thanks for sharing your tips for beginners!

when I read the points you made re: how you would have started ie with leveraging first and indicators last then I knew I was in the right forum

i began my forex education with indicators / patterns and probably would have made the same mistakes you made had it not been for your thread.

just downloaded trading in the zone so thats the next step

cheers

antgal23

#243
Dec 19, 2009 11:32pm Dec 19, 2009 11:32pm

Bee3a
| Joined Dec 2009 | Status: Forever Learning | 23 Posts

I mean it.. really , thank you very much ..
Am glad I found your thread and found forex factory with all the people who are willing to help new traders become more aware of what they are up to face later on..
Your posts are actually one great step on my way to becoming a good trader..
So, thank you again for the insightful thread and thank you for the info and time

#244
Dec 22, 2009 6:49am Dec 22, 2009 6:49am

PeterFM
Joined Apr 2006 | Status: Suaviter in modo, fortiter in re | 1,851 Posts

Quoting pj.waterloo

Disliked

Hello PeterFM
If you may, pls. offer your comments on ODL UK, FxPro UK and GoMarkets Australia?
I am in fact also planning to open a live acct in 1st quarter of 2010.
Thank you for your time.

Ignored

Sorry PJ, I missed this one. I have no experience of live trading with any of these b rokers, so I can't help there.

All I would add is that you should go in with a fraction of the fund you've set aside and not commit to any b roker until you're sure that they suit your needs.

Trading live with micro lots will give you a chance to get the feel of real money being on the line and allow you time to develop this side of the trading equation.

You'd be surprised how quickly you can build even a small account if you aren't feeling extra pressure because of the excessive drawdowns that you get if you over-leverage your account.

#245
Dec 22, 2009 6:50am Dec 22, 2009 6:50am

PeterFM
Joined Apr 2006 | Status: Suaviter in modo, fortiter in re | 1,851 Posts

Quoting Bee3a

Disliked

I mean it.. really , thank you very much ..
Am glad I found your thread and found forex factory with all the people who are willing to help new traders become more aware of what they are up to face later on..
Your posts are actually one great step on my way to becoming a good trader..
So, thank you again for the insightful thread and thank you for the info and time

Ignored

Just hoping it speeds your development. Thanks for the kind words, they are appreciated.

#246
Dec 22, 2009 7:37am Dec 22, 2009 7:37am

pj.waterloo
| Joined Nov 2008 | Status: Trader | 111 Posts

Quoting PeterFM

Disliked

All I would add is that you should go in with a fraction of the fund you've set aside and not commit to any b roker until you're sure that they suit your needs.

Trading live with micro lots will give you a chance to get the feel of real money being on the line and allow you time to develop this side of the trading equation.

You'd be surprised how quickly you can build even a small account if you aren't feeling extra pressure because of the excessive drawdowns that you get if you over-leverage your account.

Ignored

Hello PeterFM

I have thought the same. All points taken. I will go with macro and test it out with (likely) GoMkt for experience purpose.

May all pips go to you always

#247
Dec 23, 2009 5:39am Dec 23, 2009 5:39am

kk007
Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts

Dear PeterFM,

As I can imagine, throughout your learning process to familiar with the subtle details of how a good setup is, you have made a lot of small notes. Am I right about this?

If it is the case, would you mind sharing some tips on how you make your notes. Or, there is no particular method to do that, just practise makes perfect???

Please share!

Cheers,

kk007

#248
Jan 8, 2010 9:18am Jan 8, 2010 9:18am

radi164
| Joined Apr 2007 | Status: Trader | 20 Posts

hello MR PETER FM.
FIRST I WANT THANK YOU VERY MUCH FOR YOUR HELP FOR US .{THE NEWBIE'S}.
SIR I HAVE A PROBLEM WITH SOME FILES OR TREND I DOWNLOAD IT AS {EX FILES } AND PAST IT INSIDE THE INDICATOR .BUT I FEEL IT AND THINK SURE ITS"NT WORK FOR SOME THING WRONG .OR IT NEED TO CONVERT FOR FOR METATRADER FILES .SO DID I'M WRONG IN MY IDEA ?
HOW I CAN PAST IT OR CONVERT IT TO WORK WITH METATRADER .

I HOPE I EXPLAIN THE PROBLEM WITH MY BAD ENGLISH .AND THANK U AGAIN FOR HELP

#249
Jan 11, 2010 11:04am Jan 11, 2010 11:04am

blackdog
| Joined May 2007 | Status: Trader | 80 Posts

Hi Peter
When you say that you use the monthly/ weekly to
place your S/R lines how far back do you go.

great thread

thanks

#250
Jan 11, 2010 11:40am Jan 11, 2010 11:40am

PeterFM
Joined Apr 2006 | Status: Suaviter in modo, fortiter in re | 1,851 Posts

Quoting blackdog

Disliked

Hi Peter
When you say that you use the monthly/ weekly to
place your S/R lines how far back do you go.

great thread

thanks

Ignored

Way, way back. I compress the chart and get all the history I can and then look for the major reversals.

Everything I do is encapsulated in the two images below:

Image 1 is to show how I easily determine key levels from history using a line chart
Image 2 is to show how much harder it is to determine key levels from history using just the bars

Attached Images

#251
Jan 11, 2010 11:44am Jan 11, 2010 11:44am

PeterFM
Joined Apr 2006 | Status: Suaviter in modo, fortiter in re | 1,851 Posts

Quoting radi164

Disliked

hello MR PETER FM.
FIRST I WANT THANK YOU VERY MUCH FOR YOUR HELP FOR US .{THE NEWBIE'S}.
SIR I HAVE A PROBLEM WITH SOME FILES OR TREND I DOWNLOAD IT AS {EX FILES } AND PAST IT INSIDE THE INDICATOR .BUT I FEEL IT AND THINK SURE ITS"NT WORK FOR SOME THING WRONG .OR IT NEED TO CONVERT FOR FOR METATRADER FILES .SO DID I'M WRONG IN MY IDEA ?
HOW I CAN PAST IT OR CONVERT IT TO WORK WITH METATRADER .

I HOPE I EXPLAIN THE PROBLEM WITH MY BAD ENGLISH .AND THANK U AGAIN FOR HELP

Ignored

Sorry radi, I really don't understand the question. If it's a programming problem I am not the man to ask.

Maybe post your question (in a new thread) in your own language in here http://www.forexfactory.com/forumdisplay.php?f=69

My apologies

#252
Jan 11, 2010 11:48am Jan 11, 2010 11:48am

PeterFM
Joined Apr 2006 | Status: Suaviter in modo, fortiter in re | 1,851 Posts

Quoting kk007

Disliked

Dear PeterFM,

As I can imagine, throughout your learning process to familiar with the subtle details of how a good setup is, you have made a lot of small notes. Am I right about this?

If it is the case, would you mind sharing some tips on how you make your notes. Or, there is no particular method to do that, just practise makes perfect???

Please share!

Cheers,

kk007

Ignored

Hi KK

I'm not a great note taker. I carry all my stuff in my head. I just sit and look at the charts and try and build a picture in my mind of what a good trade looks like.

When I see that pattern appear again, I trade it. It's not perfect, I know, but with my S/R levels it seems to have kept me out of trouble for a year or two.

You're right; practice makes perfect!

#253
Jan 11, 2010 1:25pm Jan 11, 2010 1:25pm

blackdog
| Joined May 2007 | Status: Trader | 80 Posts

Hi peter
So its back as far as you can on the monthly
too look for major reversals then switch to weekly
chart and also look for major reversals or is it
good enough on just the monthly then drill down
to the daily and look for entrys with trend
sorry to be so precise but i have ended up with a
forest of lines from the M/W and my head is spinning lol lol

thanks

#254
Jan 11, 2010 2:22pm Jan 11, 2010 2:22pm

PeterFM
Joined Apr 2006 | Status: Suaviter in modo, fortiter in re | 1,851 Posts

Quoting blackdog

Disliked

Hi peter
So its back as far as you can on the monthly
too look for major reversals then switch to weekly
chart and also look for major reversals or is it
good enough on just the monthly then drill down
to the daily and look for entrys with trend
sorry to be so precise but i have ended up with a
forest of lines from the M/W and my head is spinning lol lol

thanks

Ignored

Sometimes, as in the Monthly EURUSD chart above, you'll see a run with no obvious S/R levels. Then I will drop down to the Weekly chart to see if there are any points that could be important. From then on I concentrate on Price Action at these levels and sometimes add in key Daily reversals as near-term targets.

The key to this is only picking the main reversal points and learning to ignore the intermediate minor levels. You need to be aware of them as you trade from day-to-day but they rarely affect my main targets when I'm planning a trade.

It seems hard when you start this, and I admit it took me the best part of a year to really get my chart analysis to where it is now, but I promise you that the more you do this the more instinctive it becomes.

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#255
Jan 11, 2010 3:24pm Jan 11, 2010 3:24pm

radi164
| Joined Apr 2007 | Status: Trader | 20 Posts

HELLO MR PETER FM .

THANK YOU VERY MUCH FOR HELP AND INTEREST .

MY QUESTION WE FOUND SOME INDICATOR NEED TO DOWNLOAD FOR OUR METATRADER .WHEN WE OPEN THE ZIP I FOUND SOME OF THIS INDICATOR IT'S IN EXE.FILE MY QUESTION IS HOW I CAN MAKE IT QORK WITH THE METATRADER LANGUEGE .BECAUSE EVEN I PASTE IT IN THE INDICATOR ITS'NT WORK .BECAUSE IT'S A DIFFERENT .NOT IN MQ4.I PAST A LINK AS EXAMPLE .

YOU RIGHT ABOUT PAST THE QUESTION IN OTHER PLACE .BUT IN MANY PLACES WE FOUND I MEAN WE THE NEWBIES MANY PEOPLE MAKE THE EGO'S ABOUT .AND TALK WITH US LIKE WE ARE NOTHING ...AGAIN THANK YOU VERY MUCH FOR HELP http://cdn.forexfactory.com/attachme...7&d=1263208553

#256
Jan 11, 2010 4:22pm Jan 11, 2010 4:22pm

PeterFM
Joined Apr 2006 | Status: Suaviter in modo, fortiter in re | 1,851 Posts

I think maybe you need to download it to the /experts/indicators folder of your Brokers installation and then open up the MetaQuotes Language Editor.

Hit F4 - search for the exe file and import it into the editor and then run the 'Compile' button.

The compiled indicator should then appear in the 'Navigator' section and you can then run it. It may be that after you have compiled the indi you may have to close MT4 and then re-start it, although I've always found that re-compiling the file is enough to make it appear in 'Navigator'.
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