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How much are you ready to pay for Forex Stuff?

  • #21
  • Aug 10, 2011 8:52am Aug 10, 2011 8:52am
Quoting Pokerfxtrade
I lost 100k when I first started trading what I know now is priceless.
Yeah it really hurts when you lose those demo dollars........
  • #22
  • Aug 10, 2011 8:56am Aug 10, 2011 8:56am
Quoting josef
You are the developer and have something useful for yourself. Why would you give it for free? Why you shouldn't sell it?

There is a lot of stuff made just for making money from selling it, but there is useful stuff. Hard part found our what you are looking at.

Josef
This is the formula I unconsciously used to select what I paid for --

 

  1. The visitors already earn high wages, so they're intelligent;
  2. they're also hobbyists turned money-earners (on the side or full-time), so they have passion about how they produce what they sell to others;
  3. platform forum (usu. 'no-selling' rule, at least in most of forum), a place where they can feel comfortable talking to others about their hobby;
  4. and, willing to share for free a lot of concrete information about their indicators
  5. --> pay for the indicators etc. of these people

-- produces quality indicators etc. for pay.

I'm thinking of the tradestation forum of 7y ago; it also applies to ff, which is mostly MT4 when referred to.
I don't pay for indicators anymore -- due to choice and force -- but there are certainly several indicators at ff by longterm members that look fine.

to avoid --
There are contenders who sell comprehensively related indicators that look original, or indicators that look like they're a copy of each other except for some artificial difference, but these either won't or can't post. Lastly, there's the one-horse wonders "Look, it's a ma" or "I love the 88.6 fib" with endless testimonials.

Anyhow, I went my own way, and am still looking.

  • #23
  • Aug 10, 2011 9:11am Aug 10, 2011 9:11am
In forex, in life, the most valuable is experience. Experience is priceless. I'll better invest 5K to my account and lose them, than waste it on indicators or books. Next time I'll think twice about each trade. I'll be the only responsible person.
  • #24
  • Aug 12, 2011 3:40am Aug 12, 2011 3:40am
Quoting thelws
im ready to pay for courses to learn new stuff. losing 3000$ to a course is better than losing 3000$ to the market.
3000$ lost to the market gives you nothing other than a hole in the pocket.
absolutely nothing? how about Experience?
as usual, it's a matter of perspective &/or experience.

what if u lost that $3000 on a course u realized was bogus or just fluff/rehash?

what if u lost that $3000 on a nano/micro account & traded conservatively? that's a lot of experience. of course, if u traded that $3000 with a high leverage & haphazard trading style, then the experience u get is minimal.


having said that, i agree with several here -- dig very deep first, before u offer your money.
  • #25
  • Aug 12, 2011 4:07am Aug 12, 2011 4:07am
Quoting supremeChaos
absolutely nothing? how about Experience?
as usual, it's a matter of perspective &/or experience.

what if u lost that $3000 on a course u realized was bogus or just fluff/rehash?

what if u lost that $3000 on a nano/micro account & traded conservatively? that's a lot of experience. of course, if u traded that $3000 with a high leverage & haphazard trading style, then the experience u get is minimal.


having said that, i agree with several here -- dig very deep first, before u offer your money.
With proper risk management you need some time to lose 3K. Sure you can make a wild run and lose it all in a week.
  • #26
  • Aug 12, 2011 4:41am Aug 12, 2011 4:41am
just in case someone missed it.....

//----

Quoting supremeChaos
what if u lost that $3000 on a nano/micro account & traded conservatively? that's a lot of experience. of course, if u traded that $3000 with a high leverage & haphazard trading style, then the experience u get is minimal..
//---

some thoughts are worth reading twice and some of the best advice is free..... ....

//---

nothing has done me more good than 20,000 micro lot trades in live accounts....h
to trade and code, keep both simple... no call to impress....h
  • #27
  • Aug 12, 2011 4:43am Aug 12, 2011 4:43am
This is an important thread.
Thanks to the OP some newbies will get good perspective.

I love teaching and have been into training in different faculties for over 15yrs. Last 4 years have been training on the Forex market and fees are from $0 to $4000.

I would today be willing to pay $xx thousand for the right trainer/access/analyst for the info I seek.

My advice for beginners - is to spend some time learning the basics which is free online, practice a bit, then to fasten the intermediate phase - choose a mentor (after selecting someone properly, and having a talk with him/her to see if there's a good match there) and get the proper training for the fee rather than spending it and losing it in the market.

Books are good, but a human connection is always 2 notches higher.

Best wishes to all.
  • #28
  • Aug 12, 2011 5:27am Aug 12, 2011 5:27am
Has Michael Schumacher paid for a course ?
Has Boris Becker done it ?
You can go on and on.....
It's about your attitude and practice, practice, practice.
Combine this with some basic rules like money managment, support and resistance and you don't have to pay for your success !!
Good luck

bernhard

PS Start with a live account with max leverage 3:1
  • #29
  • Aug 12, 2011 5:32am Aug 12, 2011 5:32am
Quoting behof
Has Michael Schumacher paid for a course ?
Has Boris Becker done it ?
You can go on and on.....
It's about your attitude and practice, practice, practice.
Combine this with some basic rules like money managment, support and resistance and you don't have to pay for your success !!
Good luck

bernhard

PS Start with a live account with max leverage 3:1
Not sure about that. So you think boris becker never did a tennis course when he was young and just a beginner? Michael Schumacher I don't know, maybe he did a go-kart course maybe not.

But I think there are lots of people that at least did a basic course before excelling in their disciplines. In a way, if you have a coach, you are also doing kind of a course, cause the coach instructs you on what to do and which things to avoid...
  • #30
  • Aug 12, 2011 7:22am Aug 12, 2011 7:22am
Hi Custos !

You are right in what you said.
Of course one needs some guidance at the beginning but what
separates the good from the average is what requires this skills.
It seemed to me, that a kind of holy grail search was in his mind ;-))

Regards

Bernhard

Quoting Custos
Not sure about that. So you think boris becker never did a tennis course when he was young and just a beginner? Michael Schumacher I don't know, maybe he did a go-kart course maybe not.

But I think there are lots of people that at least did a basic course before excelling in their disciplines. In a way, if you have a coach, you are also doing kind of a course, cause the coach instructs you on what to do and which things to avoid...
  • #31
  • Aug 12, 2011 7:55am Aug 12, 2011 7:55am
Quoting ceo
This is an important thread.
Thanks to the OP some newbies will get good perspective.

I love teaching and have been into training in different faculties for over 15yrs. Last 4 years have been training on the Forex market and fees are from $0 to $4000.

I would today be willing to pay $xx thousand for the right trainer/access/analyst for the info I seek.

My advice for beginners - is to spend some time learning the basics which is free online, practice a bit, then to fasten the intermediate phase - choose a mentor (after selecting...
You hit the nail on the head......"I would today be willing to pay $xx thousand for the RIGHT trainer/access/analyst for the info I seek".

The operative word is RIGHT because there is no way to verify whether or not the trainer you choose is competent and has anything worthwhile to listen to. I suppose if you took 9 or 10 "courses" over a period of time, you might find the right one, but it is a crap shoot and a very expensive proposition. It took me 5 years to figure out how to trade FX.....could I have figured it out in 2 years had I taken courses? Maybe.....maybe not.....I will never know. My approach is very unorthodox and I don't think anyone else could have taught it to me.
  • #32
  • Aug 12, 2011 8:12am Aug 12, 2011 8:12am
Quoting behof
Hi Custos !

You are right in what you said.
Of course one needs some guidance at the beginning but what
separates the good from the average is what requires this skills.
It seemed to me, that a kind of holy grail search was in his mind ;-))

Regards

Bernhard
A holy grail system IMHO, is a system that gets you in at the very top/bottom and out at the very bottom/top every single time..................NOBODY will ever develop such a system.....it does not exist.

However, there is a correct way to trade such that a person can consistently make profits......every trader should strive/search for that type of trading system.
  • #33
  • Aug 12, 2011 8:56am Aug 12, 2011 8:56am
You can read lots of books on just about anything. In my time I've gone through at least 2 dozen on golf. Did it improve my game? !@~" did it! But 30 mins on a driving range with a semi-pro did wonders for my swing.

Imagine going for a driving test after scouring the internet for the best way to do a reverse parking manouvre.

Bottom line is that if you want to know how to do some thing, unless you really are that exceptional person, you need some one to demonstrate to you how its done.

Would I pay for that? If i was sure the person is competent, I dont see why not. The industry only has a bad name because people fall for slick marketing and dont do diligence on who is going to mentor them.
I am usually Wrong
  • #34
  • Aug 12, 2011 8:59am Aug 12, 2011 8:59am
Just working my way through ff forums, its pretty clear who knows what they are talking about and who the bs artists are.
I am usually Wrong
  • #35
  • Aug 12, 2011 9:12am Aug 12, 2011 9:12am
I would like to know how much the successful traders out there would sell their system for. How much is your years of knowledge worth?
  • #36
  • Aug 12, 2011 9:15am Aug 12, 2011 9:15am
Quoting Troikaone1
I would like to know how much the successful traders out there would sell their system for. How much is your years of knowledge worth?
a gun and bullet
Congratulations ScalaFX for coming out of the closet!
  • #37
  • Aug 12, 2011 9:25am Aug 12, 2011 9:25am
Quoting nubcake
a gun and bullet
lol.....I hear you loud and clear!!!!!!!!!!!!!!!!
  • #38
  • Aug 12, 2011 9:35am Aug 12, 2011 9:35am
Quoting behof
Has Michael Schumacher paid for a course ?
Has Boris Becker done it ?
You can go on and on...
im not familiar with their backgrounds but that is thinking &/or performing in-the-box.
not everyone fit in, assimilate well &/or agree with such paradigm.

u have to realize we are all unique.
some people are meant to learn from others & do/perform/learn better that way, while others are inherently self-reliant.

Quote
Combine this with some basic rules like money managment, support and resistance and you don't have to pay for your success !!
it's easy to say so when u are already in the path of learning, or have a prior work-related/business experience.
but when one is starting out, with virtually zero knowledge or prior background, what u see in front of u looks like a dark tunnel that branches out to several mini tunnels --- u dont know where to start, u dont know where to go. it's difficult not to slip, fall, get scared/frustrated/bruised or lose hope.
but if one perseveres & moves forward, it's difficult not to see the light.

Quoting hayseed
just in case someone missed it.....
some thoughts are worth reading twice and some of the best advice is free..... ....
nothing has done me more good than 20,000 micro lot trades in live accounts....h
several indicators/EAs = more experience?

//------------------------------------
if hayseed = awesome
then {PRINT "thank you, Sir hayseed"}
//------------------------------------

Quoting Troikaone1
I would like to know how much the successful traders out there would sell their system for. How much is your years of knowledge worth?
unquantifiable.
i believe they'll say "it's priceless".
  • #39
  • Aug 12, 2011 9:40am Aug 12, 2011 9:40am
Quoting Troikaone1
lol.....I hear you loud and clear!!!!!!!!!!!!!!!!
i missed the 'successful' part... my vote doesn't count then. ah well.
Congratulations ScalaFX for coming out of the closet!
  • #40
  • Aug 12, 2011 9:53am Aug 12, 2011 9:53am
[QUOTE
unquantifiable.
i believe they'll say "it's priceless".[/quote]

Yes....I would like to one day partner up with someone, but I don't have a clear idea of what I would charge to forge a partnership. I would also say that it is priceless which makes it almost impossible to quantify.
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