I believe that only traders who are willing to spend a lot of time observing and researching and are able to think and act independetly will succeed in this business. Many newbies are looking for gurus and for them to give them a strategy with an exact buy/sell logic and trade management - the Systems forum here is full with it. Following a guru and his strategy blindly will make you a sheep. And to quote Michael Douglas - bulls make money, bears make money and sheep get slaughtered.
Why would you want someone to tell you when to make your entries? I believe its important to learn the theory (how the FX markets work, TA tools etc.) and go through the whole journey until we discover the right tools for us. It maybe a long way, but it will lead you to consistency. No need for a guru or some analysts telling you if you should buy or sell.
Some of the gurus here are maybe even making money, but there is no guarantee it'll work for you too. The Turtle Experiment is the perfect example. Obviously, the system Richard Dennis gave them worked fine. But only a few of them succeed trading the system. In the end, every trader has to suit the strategy to his goals and style and not suit himself to the guru's strategy.
Its the "get-rich" and the "lets-move-to-the-next-holy-grail-system" mentality why many newbies fail. There are no shortcuts in life nor in FX Trading. When you have your trading plan ready, you don't have to care anymore what other people are telling you about the trade.
Think independently.
Why would you want someone to tell you when to make your entries? I believe its important to learn the theory (how the FX markets work, TA tools etc.) and go through the whole journey until we discover the right tools for us. It maybe a long way, but it will lead you to consistency. No need for a guru or some analysts telling you if you should buy or sell.
Some of the gurus here are maybe even making money, but there is no guarantee it'll work for you too. The Turtle Experiment is the perfect example. Obviously, the system Richard Dennis gave them worked fine. But only a few of them succeed trading the system. In the end, every trader has to suit the strategy to his goals and style and not suit himself to the guru's strategy.
Its the "get-rich" and the "lets-move-to-the-next-holy-grail-system" mentality why many newbies fail. There are no shortcuts in life nor in FX Trading. When you have your trading plan ready, you don't have to care anymore what other people are telling you about the trade.
Think independently.
