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I Need Advice (I am a Newbie)

  • #1
  • First Post: Jun 26, 2009 6:56am Jun 26, 2009 6:56am
hello guys, I am a newbie trader and this is my first time to make a post here. I love reading all post here especially when there is a new Charts and new patterns. We are trading almost 1 year but we are losing a lot of dollars. To my chart I am using ADM, Alligator and stochastic. I want to become a good traders but to hard to become that one. How can i be a good traders? That's a crazy question but I want your comments guys. Sorry for my english bcoz I am not good in English.


Now I am buying USD/JPY in a price of 95.47, my stop loss and take profit both 50 points. Anyone knows where the USD/JPY going? Btw Im a Filipino forex trader.




Friendly,
ariane
  • #2
  • Jun 26, 2009 7:16am Jun 26, 2009 7:16am
Quoting arianemodina
I want to become a good traders but to hard to become that one. How can i be a good traders? That's a crazy question but I want your comments guys. Sorry for my english bcoz I am not good in English.


Now I am buying USD/JPY in a price of 95.47, my stop loss and take profit both 50 points. Anyone knows where the USD/JPY going? Btw Im a Filipino forex trader.
Wow! That's a hard question to answer... where to begin?? Well the first thing I would recommend is dropping those indicators... but that's a whole 'nother story!

Seriously though... what were your reasons for going long at that price? Perhaps if you could give a bit more explanation of how you are trading someone might be able to help!

Regards,

Dan
  • #3
  • Jun 26, 2009 8:04am Jun 26, 2009 8:04am
hi Dan! thanks for reading my post..My uncle strategy when hes trading are when he see the three candles are going up then he start to buy, three candles down he sell, he watch the stock market, gold and crude oil if it is going down he buy and if its is going up he sell. I am following what he said to me.

But for me I want to follow my pattern. I am using Stochastic, if i see the stoch reach 80% then i go for sell and i am selling if stoch reach 20%. I can explain stoch only bcoz I don't know how to explain my other patterns.




regards,
ariane
  • #4
  • Jun 26, 2009 9:03am Jun 26, 2009 9:03am
Hi Ariane,

You confused me a bit here... you said "My uncle strategy when hes trading are when he see the three candles are going up then he start to buy, three candles down he sell" but then you said "if it is going down he buy and if its is going up he sell"

Could you clarify which way it is please?

Also, perhaps you should post a chart here so we can see what you're doing?

Regards,

Dan
  • #5
  • Jun 26, 2009 9:12am Jun 26, 2009 9:12am
Quoting arianemodina
hello guys, I am a newbie trader and this is my first time to make a post here. I love reading all post here especially when there is a new Charts and new patterns. We are trading almost 1 year but we are losing a lot of dollars. To my chart I am using ADM, Alligator and stochastic. I want to become a good traders but to hard to become that one. How can i be a good traders? That's a crazy question but I want your comments guys. Sorry for my english bcoz I am not good in English....
Ariane -

There is an old saying - "When you find yourself in a hole, stop digging'. In other words, if what you are doing is failing, then STOP.

I recommend you stop trading for while as a first step.

Second step - learn the basics. Stop off and read the first 50 pages or so of this thread: LINK and pay special attention to the first post. Follow every word of it because it is solid gold.

Third - once you've done some homework in step two, start posting your observations, demo trades and questions on that thread. Great people over there and some of them can really help you be successful.
I'm pretty much done with all this ...
  • #6
  • Jun 26, 2009 11:07am Jun 26, 2009 11:07am
StoragePro did give you best tip you can get from here.

Slowly learn read that treat and you will one day
be in same point that those many longtime knowhow persons in that treat,
there is experience over 100 year traiding when calculeted together.


When you look "systems" first all say super super super
but slowly those treats die. Simply because there is no one
super system easy to all solution.

Like one fellow say "you not need system you need sound"
to become winning traider.

I wasted almous 8 years traiding before i did undertant
that i try all time walk wrong road to success.

In that treat these not any system like do this this and win
its like traiding school. Read ask if needet and
one single day it will be clear as sky ..wow this is actually
working.

Other famous words "in heavy trending market any one can
make winnign trades, but markets go sideways almoust 60% of time
and if not able to win trades in sidewaymarket have zero prosent possible
to succes in this business"

This is mine reason why all trend follow sytems some time work,
but then not work.

And indicators those all about 2000 what have been made
are in the end very very basic things wich have originally maded
20 years ago. They look beatiful but only proplem
is that they show past and you put you money to future.

You can save many years by taking advice to start read that
treat and forget all mumbo hombo sytems and indicators now
not after many years.

I know what i say , i have done those all mistakes in last 10 years.

Now i learning to look sound not system.

ps this treat also good to read first

PeterFm help for newbies
http://www.forexfactory.com/showthread.php?t=39514
  • #7
  • Jun 27, 2009 5:10pm Jun 27, 2009 5:10pm
I suggest you to trade with demo account first before you get a good system for makes money,

---------------------

S + R = $$$

.
  • #8
  • Jun 27, 2009 9:41pm Jun 27, 2009 9:41pm
hello ariane,

i too, am pinoy, but now living and trading in new zealand. You will get a lot of good advice from the members in this forum. Pick one trading method that resonates well with you and learn everything there is to know about that one method.

if i may suggest, trade with a broker that lets you trade with one unit (not one lot), and lets you trade even with only $1 in your account.

While you are in learning mode, trade the smallest amount possible, whch could be one unit. Keep a trading journal. Post all your trades in that journal. If you had a losing trade, ask on that thread how you could have done otherwise.

It is good to trade demo, but I find it better to trade with a live account, even if that account only has $1 in it. This way, you get to feel your own 'energy' (your thoughts, beliefs and emotions) when you trade live.

It is not really which indicator you use, but learning when to trade and when not to trade.

I wish you the best.

- jim
youtube.com/@jimstradingjournal
  • #9
  • Jun 28, 2009 7:18am Jun 28, 2009 7:18am
at least know the basics of the fx market. read the stickies at the top of these rookie forum. indicators, systems and different timeframes r ok. find out what trading style suits u. trading systems work, it's the trader that fail. trade well.
  • #10
  • Jun 28, 2009 9:10am Jun 28, 2009 9:10am
Quoting arianemodina


Now I am buying USD/JPY in a price of 95.47, my stop loss and take profit both 50 points. Anyone knows where the USD/JPY going?
It may be going UP.

OR it may be going DOWN.

Don't know... my crystal-ball is broken...

Seriously now. Stop giving away money. Learn the market principles, and how to read the basics of a chart. S/R, basic PA, reversal and continuation patterns, for a start. News impacts, the herds movements, the big market movers. Try babypips.com lessons.

Cheers...
Many share my views with me. But I don't share them with them...
  • #11
  • Jun 28, 2009 11:37am Jun 28, 2009 11:37am
Ah we have an new female trader, Welcome ariane

I agreed with what StoragePro said,
you should stop if you keeps loosing money, try to make some test on demo for new strategy.
Afterall depending on the same strategy over and over does not guarantee it will gives the same good result from time to time, may be it's time to change strategy


Best regards,

Adam
  • #12
  • Edited Jun 29, 2009 4:51am Jun 28, 2009 12:49pm | Edited Jun 29, 2009 4:51am
Quoting arianemodina
hello guys, I am a newbie trader and this is my first time to make a post here. I love reading all post here especially when there is a new Charts and new patterns. We are trading almost 1 year but we are losing a lot of dollars. To my chart I am using ADM, Alligator and stochastic. I want to become a good traders but to hard to become that one. How can i be a good traders? That's a crazy question but I want your comments guys. Sorry for my english bcoz I am not good in English....
First you should understand that you are asking for a tip ....but the question is about UJ so I would comment that we are entering a support zone as you should have seen but I think 50 pips SL is tight....check the range of UJ in last some months to reconsider your SL.

Second see you are using indicators. They are suppose to give you perfect signals. If you have entered using their signal then exit using the signal....why have fix SL and TP.....its clear how you are not confident with them.

Third understand if you are reading everything you are wasting your time. Have an idea and develop your strategy around it. Ideas like you want to trade range or trade the trend or pure SR or Fibonacci. Take any one and only one. Trying every thing simultaneously it just a waste of time and would not teach you anything.

HTH and welcome.
The only way to get smarter is by playing a smarter opponent.
  • #13
  • Jun 29, 2009 4:40am Jun 29, 2009 4:40am
Could you clarify which way it is please?

Also, perhaps you should post a chart here so we can see what you're doing?




What i mean are when the gold, stock market and crude oil going up he sell and it is going down he buy.. Then when he saw 3 candles up he starts to buy and if it is going down he sell.. I try to make a post chart here to clarify.





regards,
ariane
  • #14
  • Jun 29, 2009 5:05am Jun 29, 2009 5:05am
Quoting arianemodina
Could you clarify which way it is please?

Also, perhaps you should post a chart here so we can see what you're doing?




What i mean are when the gold, stock market and crude oil going up he sell and it is going down he buy.. Then when he saw 3 candles up he starts to buy and if it is going down he sell.. I try to make a post chart here to clarify.





regards,
ariane
Woa...hold your horses there, girl.

What's you really asking anyway? How to be a good trader or to have a good trading system?

Well, a trading system is as good as the trader, girl. So you better shape yourself up rather than trying to shape your system.
  • #15
  • Jun 29, 2009 7:07am Jun 29, 2009 7:07am
Quoting arianemodina
...I am a newbie trader...
Now I am buying USD/JPY in a price of 95.47, my stop loss and take profit both 50 points. Anyone knows where the USD/JPY going?
ariane
Hi Ariane,

Welcome to FF. Please take your time and go through the various threads in the 'Interactive trading' and 'trading systems' Forums. Hopefully you will find something that rings home with you.

Trading is a business and as such you will need to do a lot of homework, planning, testing(demo) and tweaking before you find something that talks to you.

Hope you are still buying and selling on a demo account?

Z
  • #16
  • Jan 10, 2010 3:08am Jan 10, 2010 3:08am
Quoting arianemodina
My uncle strategy when hes trading are when he see the three candles are going up then he start to buy, three candles down he sell, he watch the stock market, gold and crude oil if it is going down he buy and if its is going up he sell. I am following what he said to me.
I think shes talking about 3 green soldiers and 3 red roselas pattern. I tryed trading these kinds of patterns and found them not really reliable. And when you trade them, you not only have to spot them on the chart, but lots of confirmation is needed.

If someone is interested, Tymens method in babypips.com talks about it.

Thank you,
Albinas
  • #17
  • May 26, 2011 4:29am May 26, 2011 4:29am
in two years trading..im still learning those methodology in forex. but i guess one method u will use is sort of better to understand..i keep connecting to my class.
I can tell you for sure that my trading has only taken off finally after this last class I took. I'm think I"m seeing green finally.
this last class certainly put all the puzzle together for me
  • #18
  • May 27, 2011 4:44pm May 27, 2011 4:44pm
Sorry for the derail but I dont have permissions to start new threads...

I've got both MT4 & MT5 on my computer, I had both open at the close of trading today and the close price in the EUR/USD is quite different in each system. In MT4 my sell price is 1.4301 and in MT5 it is 1.43173. I'm no expert by any means but i checked some sites and it seems MT5 is correct however MT4 seems to be the traders choice of platform? Is reliability an issue with MT4, should i look elsewhere for a platform for trading? I'm just on a demo account for now but i would like the charts to atleast be correct showing the right movements of the market.

Thanks
  • #19
  • Last Post: May 29, 2011 11:23am May 29, 2011 11:23am
Adamn.

why she will stop? need more focus on trading not by guessing only.she already started forex sometimes you win and sometimes you lost .forex trading is like a game if you know how to play the game of trading alas is always be yours.

I think arianemodina you need a professional coach..so you will not lose all your money.

moreover im like you i lost a lot of money but im pretty sure ill be a millionaire.. dont stop to my class..still keep goin..
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