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Best place to learn and become a consistent trader?

  • #21
  • Mar 24, 2012 2:04am Mar 24, 2012 2:04am
Quoting Nikopip
As fresh as i am Hellas i can already see that i would like to have a few things programmed to make my life easier ... is custom programming an outlandish expense like web and other programming services ? is it something thats reserved for the big boys ?
Learn to code EAs for yourself, it will be many, many times easier than learning to trade forex profitably.
  • #22
  • Mar 25, 2012 8:15pm Mar 25, 2012 8:15pm
Quoting Nikopip
As fresh as i am Hellas i can already see that i would like to have a few things programmed to make my life easier ... is custom programming an outlandish expense like web and other programming services ? is it something thats reserved for the big boys ?
It can be, depending on what you want to achieve. For instance if you already have a trading strategy that indicates consistent results than you can opt to automate the system via an EA. This can help in testing your strategy over a given period.

If you a very newbie then I suggest you go to the very basics and start to read the charts. You will find many patterns emerge irrespective of the type of strategy you elect to use. Train your eye and you will be pleasantly surprise with what you find.
  • #23
  • Mar 25, 2012 11:00pm Mar 25, 2012 11:00pm
Quoting pipmutt
That's the problem, information overload! How much is relevant, helpful, or even necessary to know?

There seems to be a cycle which people new to trading go through of simple, to complex, and back to simple. Maybe a good place to start is learning the actual concept of 'trading' rather than get overloaded with information about strategies or the intricacies of how a particular market works. An analogy might be learn to drive first, it's not immediately necessary to know about advanced driving techniques or what's happening under the hood, there's...
too much truth in this statement

when i started trading i saw bollinger bands and i learned the concept of the squeeze, the bounce, the walking the bands.

i decided this shit was too simple

then i learned probabilities and statistics, how to calculate, standard deviations, averages, exponential, WMA, and so forth.

how to calculate implied, historical, actual current, and actual future volatility..... guess what am more or less back to Bollinger bands hahahahaha

but i know THE REASON, AND WHY they work, and HOW THEY WORK, and WHAT THEY MEASURE, AND HOW THEY MEASURE IT.

the short comings the strengths etc.

in my view there are only 2 things a trader or investor needs to be aware of, when speculating on an asset (not counting the MM of the actual method)

1) direction
2) volatility

however if you really want to learn to trade, take some classes on probabilities here is an open free non accredited class from Harvard University.....it is more helpful than it seems trust me. Trading is about probabilities, and expectations, which builds your risk management etc

http://www.extension.harvard.edu/ope...ts-probability
AVT INVENIAM VIAM AVT FACIAM
  • #24
  • Mar 27, 2012 9:53pm Mar 27, 2012 9:53pm
Quoting nu2trading
im glad i found this thread - totally new to trading and i posted in some other thread here (no answer) in order to gain some insight on where to start as a newb for forex... thanks for the tips guys
starting with these few for now - should keep me busy....

Price is Everything, Romancing the Price, PIE Chatroom, tradingit.com...
Price is king! We are all aware that what really constitutes success in trading is a combination of things, such as psychology, risk management, planning, structure...etc. However if you are a technical trader you will need a trading strategy/system that you can recognize, execute and then manage. Take a good look at the chart and ask yourself what you see. This is a great way to train your eye to recognize reoccuring patterns in the market.
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  • #25
  • Mar 27, 2012 10:11pm Mar 27, 2012 10:11pm
No where. DYODD, and DIYS.

No free lunch,
go LIVE after 3 months of demo if u understand what you are doing with a micro account.

If not add another 3 months.

Blow up an account, then you have paid your dues

Hopefully not.

READ READ READ,
News, Newspapers, Websites, THIS FORUM, Blogs,

Then form your own opinion w/o emotion.

Detach yourself from the money,

Yet look at things in a macro view - ie: drawdown, time in trade,
target, Money management, risk exposure, bias, sentiment, cot, etc.

Learn what tools suit you best and don't overcrowd your charts with silly lagging indicators.

This market is smash and grab most of the time.

Learn the higher time frames successfully first or you WILL fail on the lowers.

There is no such thing as becoming a millionaire by scalping a 2k account,
I don't care what people that post these ridiculous equations on this forum say.

You are NOT going to go from 200 to 400 to 800 to 1600 to 3200.
SORRY.

Start small learn to trade up the ante.

News and fundamentals are what drive the techs in my view,
Techs are there when there is nothing else to trade besides them.

Good luck
wish you well,
XT
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #26
  • Mar 27, 2012 10:26pm Mar 27, 2012 10:26pm
Oh and re read this AWESOME POST FIVE TO FIFTEEN TIMES A DAY.

Quoting Ifmyante
I've added something to the first page of our chatroom.

I thought I'd add it here too, lest it gets overlooked

To all new traders:
This is a business, a very hard business.
Every day we stare into the abyss, and the abyss stares right back into us.
To make our living, we must daily face the demons Fear and Greed, and win.
We have all blown account after account, and you will too. It's part of paying our dues to that which will provide for us later.

Don't imagine that you will get rich quick in this business.
It takes thousands of...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #27
  • Mar 28, 2012 12:19am Mar 28, 2012 12:19am
Quoting nu2trading
im glad i found this thread - totally new to trading and i posted in some other thread here (no answer) in order to gain some insight on where to start as a newb for forex... thanks for the tips guys
starting with these few for now - should keep me busy....

Price is Everything, Romancing the Price, PIE Chatroom, tradingit.com

if...
Likeweise mate, all of the above were recommended to me in one way shape or form too so there must be merit in them .. helping a lot so far...
  • #28
  • Mar 28, 2012 8:02am Mar 28, 2012 8:02am
Quoting Nikopip
Likeweise mate, all of the above were recommended to me in one way shape or form too so there must be merit in them .. helping a lot so far...

Watch price more than any other factor, learn the skill of pure price action, it makes all the difference.

Look at Re-tests once highs/lows have been broken...Train you Eye!
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  • #29
  • Mar 28, 2012 9:52am Mar 28, 2012 9:52am
Nice continuation bounce after consolidation
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  • #30
  • Mar 29, 2012 2:22am Mar 29, 2012 2:22am
USD/JPY break through price zone followed by re-test for a short
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  • #31
  • Mar 29, 2012 3:59am Mar 29, 2012 3:59am
Well, if you want to progress step by step, you need to follow the correct strategy and use the right trading tools.
  • #32
  • Mar 29, 2012 4:39am Mar 29, 2012 4:39am
Quoting doraforex
Well, if you want to progress step by step, you need to follow the correct strategy and use the right trading tools.
Very true

But I believe the poster was asking where to find the right tools
  • #33
  • Mar 29, 2012 5:00am Mar 29, 2012 5:00am
Hello my friends,

The best way www.google.com and free.
Don't buy any system, don't buy nothing.

And you don't need years to be a successful trader, that depends of the time you spend in learning, at least 8 hours a day after a few months you are able to understand the market.

Determination is the key to success.

Knowledge + practice = successful trader

Happiness for all
  • #34
  • Mar 29, 2012 5:48am Mar 29, 2012 5:48am
EJ broke support turned into resistance....see what happens
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  • #35
  • Mar 29, 2012 8:54am Mar 29, 2012 8:54am
Quoting hellas
USD/JPY break through price zone followed by re-test for a short

Target hit nicely
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  • #36
  • Mar 29, 2012 8:57am Mar 29, 2012 8:57am
Still hanging...close but no cigar (yet)
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  • #37
  • Mar 29, 2012 9:08am Mar 29, 2012 9:08am
Quoting hellas
Still hanging...close but no cigar (yet)
Still hanging too

Can't watch!
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  • #38
  • Mar 29, 2012 9:16am Mar 29, 2012 9:16am
Quoting Ifmyante
Still hanging too

Can't watch!

Good stuff Ifmyante, got my dollar yen earlier, just waiting for the euro yen now...It shouldn't be too long...Nice trade by the way
  • #39
  • Mar 29, 2012 12:17pm Mar 29, 2012 12:17pm
Quoting hellas
Good stuff Ifmyante, got my dollar yen earlier, just waiting for the euro yen now...It shouldn't be too long...Nice trade by the way
Thanks. It's my pet swing
  • #40
  • Mar 29, 2012 4:28pm Mar 29, 2012 4:28pm
You can also have a look at:
james16 chart thread
B.S. trading with Kenneth Lee

And many interesting videos and articles for noobs like us: Nial Fuller's page
Thoughts are things
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