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  • #61
  • Dec 29, 2012 2:48pm Dec 29, 2012 2:48pm
Quoting tradestar1
Not that you will learn anything but you might look at this.......... EUR/USD MA system

OR THIS ONE.... basically the same system really.

Not really sure why I post this since I doubt you will ever really get the hang of trading unless you change your mindset.
Anyway .... wish you luck.
few people in FF if any offer solid advice with examples like tradestar1.You should study diligently the material he has posted coz its the real deal.
guys who have edges usually remain aloof ...pearls should not be given to hogs as the good book says ...

I sometimes wonder why he does it.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #62
  • Jan 24, 2013 6:50am Jan 24, 2013 6:50am
yeah, probably i also haven't got my strategy.

Keep looking and good luck
  • #63
  • Jan 25, 2013 10:45am Jan 25, 2013 10:45am
so many experienced forex traders loss at least $30k and their 3 years to become successful trader
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  • #64
  • Jan 26, 2013 4:53am Jan 26, 2013 4:53am
1. Money Management
2. Psychology
3. Strategy

1. Money management - Keep a fixed lot size for at least 1 month or for 20 trades. You don't wanna win 3 trades, and lost it all in 1 trade. If you are just starting out, don't risk too much per trade. You may get into revenge trades and end up suffering a huge DD. You may also make mistakes in your entries and end up losing.

2. Psychology - Don't expect to make 1,000% especially if you just started trading. Focus on the set ups and try not to think in terms of money. Are you afraid to pull the trigger after losing a few trades? Do you doubt yourself after making a few losing trades? Do you feel over confident after winning a few trades? Do you put stop loss? Are you afraid to lose? Take a look at your equity curve, and it will speak to you where you are at now.

3. Strategy - You HAVE to find a strategy that works for you. No one is gonna spoon feed you and give you the holy grail. You have to find the strategy by constantly testing and trading. In a ranging market, buy low, sell high. In a trending market, buy high and sell low. What is your strategy? How do you trade the ranges? How do you trade the trends? What is your trigger? Where is your stop loss? How do you take profit? When do you market will run, and when it will stop? Aim to improve in every area of your trading everyday. Refine your entries, stop loss, take profit, money management and psychology. Realistically, even the best traders have 60-70% win ratio. But the important thing is that when they lose, they lose small. And when they win, they let their profits ride.
  • #65
  • Jan 26, 2013 11:55am Jan 26, 2013 11:55am
good luck...
  • #66
  • Jan 26, 2013 4:26pm Jan 26, 2013 4:26pm
it's been said a million times, but that's because it's true: psychology is a huge factor. i think it's the main reason people fail: unwillingness to accept losing, a desire to get rich quickly easily, refusal to commit to a plan....read the books by mark douglas, they will help greatly.
  • #67
  • Jan 27, 2013 12:31am Jan 27, 2013 12:31am
Quoting Cheezy
Hi all. I am still loosing, I'm so sad. Can anyone help me?
I would like trade EURUSD and GBPUSD.

Skype: Cheezy_cz
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1st my friend, we all feel your pain, we all were once where you are.

That being said here is my advise to you.

1. you must first learn to make your lot sizes so small that you don't get spooked too easy. Your lot size of 0.05 and 0.10 (I believe that's what it said) on a 50 (whatever) account is way way too big especially for a beginner. Once you start winning even a small lot size starts to add up quickly.

There is no way in hell you will ever win when trading lot sizes too big. You just can't, it's impossible.
So first force yourself to trade only 0.01 when you trade live.

Just try this on a demo. Set up a 2nd or 3rd platform for demo trading and trade 0.01 lot size on a 50.00 account.

2. Do not trade during total caos. Caos is when the market is moving but has no real direction. I see you have chosen to trade the cadjpy pair? Why not try a more stable pair like eurusd to cut your teeth on first because the jpy pairs tend to have harder longer spikes (fakeouts) that tend to spook especially a noob.

3. I see have your pivots up and apparently that is what you're attempting to trade with which is ok. But I also see you completely missed the real entry and apparently decided to jump in late. Don't do that. If you miss an entry then just leave it alone, there's always another right around the corner okay?

4. Stop trading live money (unless you have lots of it then you should still trade the minimum bet). If you don't have lots of money then start trading demo until you get the hang or entering correctly and sticking with your rules.

5. Did someone say rules? Yes rules. Rules are different for each trader according to their psychic; but at the very least you should know exactly where your takeprofit and stoploss is before you enter any trade.
Rules can also include things like: I will only trade on Wednesdays and Thursdays between these particular hours etc.
Creating a few rules to follow will help you develop the dicipline necessary to trade according to the rules so you can profit and not lose all the time.

If you have any specific questions, ask here. We can also chat (occasionally) on skype if that might help you.

Good Luck and keep learning!
TraderJoe





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Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #68
  • Jan 28, 2013 3:10am Jan 28, 2013 3:10am
Trader Joe makes some good points but at this time, we have dovetailed the issue into things you need to do and what you must not do, the rest is up to you. I would suggest once again to review all the free info on Baby pips and other websites. Do not depend ONLY on indicators, do a demo and TEST your strategy and move to live account after a while..
good luck!
  • #69
  • Jan 28, 2013 4:11am Jan 28, 2013 4:11am
Quoting Forexnuts
Trader Joe makes some good points but at this time, we have dovetailed the issue into things you need to do and what you must not do, the rest is up to you. I would suggest once again to review all the free info on Baby pips and other websites. Do not depend ONLY on indicators, do a demo and TEST your strategy and move to live account after a while..
good luck!
I believe demoing can be taken to a fault where it can also be a curse. Who ever said learning to be rich should be free? For me demo trading while learning realy did me no good, I learned very little. But when I opened even a nano account to learn to trade, even losing 10 cents hurt a little while risking nothing. Losing Monopoly money really does little good unless a actually testing code of some type. Losing should hurt at least a little if one is to learn to trade smart.

Just my opinion. TraderJoe
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #70
  • Jan 28, 2013 5:43am Jan 28, 2013 5:43am
Quoting TraderJoe
I believe demoing can be taken to a fault where it can also be a curse. Who ever said learning to be rich should be free? For me demo trading while learning realy did me no good, I learned very little. But when I opened even a nano account to learn to trade, even losing 10 cents hurt a little while risking nothing. Losing Monopoly money really does little good unless a actually testing code of some type. Losing should hurt at least a little if one is to learn to trade smart.

Just my opinion. TraderJoe
Ditto! The stress level is completely different trading demo and live. Get some live action without risking too much.
  • #71
  • Jan 29, 2013 2:23am Jan 29, 2013 2:23am
Quoting TraderJoe
I believe demoing can be taken to a fault where it can also be a curse. Who ever said learning to be rich should be free? For me demo trading while learning realy did me no good, I learned very little. But when I opened even a nano account to learn to trade, even losing 10 cents hurt a little while risking nothing. Losing Monopoly money really does little good unless a actually testing code of some type. Losing should hurt at least a little if one is to learn to trade smart.

Just my opinion. TraderJoe
Sure, opening a nano accounts and trading in cents may hone your trading skills - that's sort of a given. But doing the demo, newbies can test the waters, find out what goes where and work out a strategy. They can always move to a live account later on but would suggest that they start with a demo,
  • #72
  • Mar 29, 2013 2:07am Mar 29, 2013 2:07am
It's obvious you can't trade yet.

If you can't afford to risk a dollar a week or so learning to trade then just quit and go dig ditches or something where you don't risk anything to learn something spactular.

Good luck,
TraderJoe
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #73
  • Mar 29, 2013 2:17am Mar 29, 2013 2:17am
Quoting Forexnuts
Sure, opening a nano accounts and trading in cents may hone your trading skills - that's sort of a given. But doing the demo, newbies can test the waters, find out what goes where and work out a strategy. They can always move to a live account later on but would suggest that they start with a demo,


i strongly agree with this. you will cherish your money on live account even the amount is very small.
  • #74
  • Mar 29, 2013 3:18am Mar 29, 2013 3:18am
you need to pick a good point of entry this is the secret of trading and being profitable .
always try to find extreme entry points even if you are in wrong direction you can end with some pips don't just rash on you will end where big hunters want you
focus while relaxed to see better
  • #75
  • Mar 29, 2013 6:57am Mar 29, 2013 6:57am
Quoting jone
so many experienced forex traders loss at least $30k and their 3 years to become successful trader

Interesting. But how you got the number $30K ? Most of the traders are small traders with less than $10K to invest in forex. They may lose during the initial years. Somehow there is no point to loss $30K to be a successful trader over 3 years period.
  • #76
  • Mar 29, 2013 12:12pm Mar 29, 2013 12:12pm
Quoting brendad
Interesting. But how you got the number $30K ? Most of the traders are small traders with less than $10K to invest in forex. They may lose during the initial years. Somehow there is no point to loss $30K to be a successful trader over 3 years period.
Agreed. I've lost no more than $80 trading the last two years to get where I'm at now. I MC'd my tiny account, figured out I didn't know as much as I thought and switched to demo. If you lose $30k you're either already very wealthy or don't know when to quit and might have compulsive gambling habits.
  • #77
  • Mar 29, 2013 3:14pm Mar 29, 2013 3:14pm
That's exactly right!

When I was still learning to trade profitable even losing 10 cents on a trade made me think hard on how I was NOT going to let that happen again. While if I traded just straight_demo, hell losing 100, 1000 or even several thousand dollars really didn't mater. Demo simply removes the reality of losing real money from learning to trade profitably. But you can have the option of trading almost demo and hone in the ability that's necessary to trade live using a nano account without risking your retirement funds, house or whatever.

I believe it is a HUGE mistake to teach people to trade straight demo once they have learned how to use the platform and have enough experience to learn a system they want to test for validity.

To further explain this caveat:
If you are a newbie to trading, then do not use any money period. By this I mean to trade straight_demo only until you have gained enough experience to understand: 1) the system you plan to verify_as_profitable and 2) the trading platform you will be using. Once you get to this point then use a nano_account_only (nano accounts are usually one cent per pip and less) to verify the system you plan to use and your personal skills required to make that system work profitably.

After you have traded this profitably for 3 months then and only then should you make a decision to go to higher stakes trading.

Secondly, let say a person learns to trade successfully on straight_demo. Guess what.... when you switch to live it will be as if you never learned anything at all because now the emotions kick in. But if you traded almost_demo you would have learned to trade with much of this emotion already programmed into the psychic and the transition would be much less difficult.

Good Luck,
TraderJoe

Quoting daminghu
i strongly agree with this. you will cherish your money on live account even the amount is very small.
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #78
  • Mar 29, 2013 3:19pm Mar 29, 2013 3:19pm
This is exactly why you do not want to trade straight_demo OR higher risk_level trading. Trading nano accounts while learning will lower this 30k number to something more like $100 dollars!

Quoting brendad
Interesting. But how you got the number $30K ? Most of the traders are small traders with less than $10K to invest in forex. They may lose during the initial years. Somehow there is no point to loss $30K to be a successful trader over 3 years period.
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #79
  • Mar 29, 2013 4:31pm Mar 29, 2013 4:31pm
Quoting TraderJoe
That's exactly right!

When I was still learning to trade profitable even losing 10 cents on a trade made me think hard on how I was NOT going to let that happen again. While if I traded just straight_demo, hell losing 100, 1000 or even several thousand dollars really didn't mater. Demo simply removes the reality of losing real money from learning to trade profitably. But you can have the option of trading almost demo and hone in the ability that's necessary to trade live using a nano account without risking your retirement funds, house...
TraderJoe, while I agree with the majority of your post, I do have one personal gripe. Why throw emotions into the mix when you're only trying to figure out if a system is valid or not? By the end of your trial period, if it all goes to hell anybody could just blame emotional incompetence instead of rightfully observing that the trading method they're using is crap. Eliminate as many variables as you can when you want to test for validity.
  • #80
  • Edited 2:59am Mar 30, 2013 1:53am | Edited 2:59am
Sounds like you didn't read the whole post but I'll explain again and try to be more clear than the first time.

I'm using the word valid in terms of profitability for YOU as an individual, not whether it is a working system or not. I tried to be very clear in my post that first you use demo to test a system, then you use nano to see if it is valid as a profitable system for YOU. For instance, whether or not you yourself can trade the system profitabily since it can be a good and profitable system for some but not for others. To know this you must trade it along with at least some of the normal emotion that comes with trading.

Good Trading,
TraderJoe

Quoting Kanzler
TraderJoe, while I agree with the majority of your post, I do have one personal gripe. Why throw emotions into the mix when you're only trying to figure out if a system is valid or not? By the end of your trial period, if it all goes to hell anybody could just blame emotional incompetence instead of rightfully observing that the trading method they're using is crap. Eliminate as many variables as you can when you want to test for validity.
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
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