DislikedHello, This is my first time posting to any sort of forum so if I make any mistakes or ask something that has been answered previously please forgive me. First of all I am a definite green trader. I've been trading FX now for about a year. To this point I've managed to break even. Most of that has been through pure luck and riding the waves that seem to follow NFP to get myself back to even. Pretty much the only day I can trade profitably is NFP and even then I sometimes get my face ripped off. My reasoning behind posting here is to get some sort...Ignored
Your in the right place. Their isn't a specific method or set of rules per say which this thread follows. You wont find any PDF or book either. In fact I would avoid the mainstream books. I think most of it is really indicator trash which this thread avoids for the most part.
You will find a not so difficult to understand price action mindset and set of concepts that has resulted in a flexibility from which many traders have taken from and developed their own discretionary strategies. Basic to the thread are a set of PA candles (pinbars, BEOBs, BUOBs, DBHLC, etc. etc.) occurring at confluenced locations (pattern breakouts, s/r bounces and breakouts, TL bounces/breakouts, etc. etc.) that highly influence whether or not a trade is taken. Most traders here will not enter a trade unless one of these PA candles presents itself. This is not a hard and fast rule but usually it is and as a beginner you should probably do so. Hehehehe! These PA candles/bars are highlighted in the first 20 to 50 or even 100 pages of this thread and are a must for you to read several times. Reading the first 100 pages will only take a few hours. As you study these first pages also look at the end for current stuff. It really isn't that much different than what is taught in the beginning.
You can't go wrong with the steps Jim describes in the beginning. Trade only daily and weekly charts to start off with. Forget that anything under a 4 hour time frame even exists. Trade only demo until you can show profitability on the demo. Leave your hard earned cash in the bank until you are profitable on demo. Don't "method jump". If you study and practice with this thread you have a higher chance of succeeding.
Best of Luck to You!!!
. Others like Ghous, seekinglight, Raczetfx, habeeb, Bermac, Jaroo, Clockworker, Pinbar just to mention a few whose posts you will come across while reading through the thread will also have something to tell you about what they went through. I notice you have not downloaded the free videos on the guest material section at the PF, there are also some links alighted at the first page of this thread i guess reading them will also assist you. You can take a look at Pring and price pattern by Martin Pring it gives a detailed explanation on patterns. As recommended by my seniors who have quoted you above you have to forget about the money for now. See, when you have the required knowledge a lot of possibilities comes with trading. This will also help you to maintain a fearless mind (i can not emphasis enough how important this will be to your trading). Finally in your course of learning always make sure you dont allow any new thing you read divert you attention from this thread. All you need to be a successful trader is here if you choose to be one. Jumping from one place to the other will only prolong your learning curve if you by chance don't get addicted to some serious bad habits which can finally ruin your trading career.
