Rookies looking for something for nothing?

Before i start i would like to put in a small disclaimer, this post is not aimed at everyone or anyone in particular. It is an observation of peoples attitude to learning the art of trading and nothing more.

Until recently, trading forex was beyond the reach of the small to average private trader. However, the growth of the Internet and the rapid growth of online forex brokerage firms that target the smaller investor have changed that. Internet technology now allows online firms to provide the necessary forex data feeds and information flows directly to your computer, often free of charge.

Just a few years go the data feeds were too expensive except for those with deep pockets who were trading large sums of money.

The average trader/investor can now easily open an online forex account and trade alongside the big boys. But should he/she?

What i have noticed since the explosion of private trading is that the participants are often not willing to put in the work that is required to profit from the art of trading. I have helped, trained and mentored people in forex for longer than i care to remember and i must say i have noticed a change in the attitude of new traders of late. Even on a reputable site like this there are countless posts from new traders simply asking for 'the best forex system'. So to put my positive spin on this issue i have a few words of advice for those who are now taking the first steps in to the forex world.

If you can profit from trading forex and make a living from it you will find yourself arguably in the best profession in the world. Your standard of living is likely to increase ten fold and you will never look back. Its much like any other profession accept there are no set university courses. People who are new to forex need to realise that you can not step in to this arena without working just as hard as if you were studying for your first class degree. Use every spare moment to read, study, practise and generally keep your head in the markets. If people really take this matter seriously then they wont look back. If you don't have the dedication to learning and absorbing the vast amounts of information available to all then reconsider your decision to become a trader.

Forex Factory holds some of the best brains in the markets as far as i can see so by finding this site you have the best start available.

Hello my friends, well said system32.


Knowledge
+ Practice
--------------
successful trade


Determination is the key to success!


Happiness for all.

I think it's because people don't understand that there's not really a set in stone method to profit in forex. They think "if this guy trades profitably like this, then I can too" but it simply doesn't work that way because if you don't understand the underlying mechanics of the system and the reason why it works it means that you will make incorrect decisions in the murky areas that are not as clear.

The only way to get on the road to trading profitably is to understand what individual technical analysis do. Trading is not cooking and there is no such thing as a little pinch of Stochastics to get the unprofitable trades out. And understanding this is just a really small part of the hard work needed, because you need to search through alot of bullshit on the forum to find stuff actually worth learning. Then there's the problem of actually thinking the bullshit is the stuff worth learning because you're still in the phase of looking for cookie cutter rules to start trading profitably. If it was that simple everyone on this forum would be a profitable trader within a month and there would be alot of millionaires that bought a $30 EA.

I like to use skateboarding as an analogy for a lot in life.

When you are learning how to ride the board, you don't want to try to do tricks, because you will get hurt. No one, and I mean NO ONE, can pull off a frontside flip without first mastering how to ride the board, how to ollie, how to kickflip, and how to front 180. Well, maybe you can land one after getting a few kickflips and 180s, but to take that trick down a stair set requires the mastery of those skills and then a fearless commitment.

Everyone does a kickflip a little different from everyone. Some pop the board and flick real fast, maybe straight out or to the side, while others pop the board and wait to flick, sucking up their knees to their chest. You can get the jist of a kickflip by watching someone do it, but when you actually start trying the trick out, you'll notice it's not easy. How your feet move with the board, your weight and height, what board your riding, everything is taken into account. You didn't land your first kickflip.

But you landed your 50th one, your 62nd one, 68th one, 70th and then soon to be every single time. Now you're feeling confident in yourself! Time to take it to a cute three set. You can bail out, but you'll always hurt yourself, either through bruising your feet from too much bailing out, or having the board get caught between your legs in midair, unable to kick it out before you land and rack yourself. Or, you can commit and either land the trick or eat crap.

Notice something? You're going to get hurt no matter what. Some people quit skating once they realize this, and other take it to the next level because they love the thrill.

(Yes, I skate.)