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anyone need help?

  • #301
  • Dec 23, 2015 11:42am Dec 23, 2015 11:42am
Hello Rensdad,
Hope you are doing good. I had a few questions in my mind which i want to ask though not that much difficult to answer yet im unable to answer them myself. Hope it wont be an ache for u. Right now im trading as newby in forex on demo accounts and as per the advice of a cousin i started trading with indicators and oscillators and found them quite good enough to trade on but slowly and steadily i started digging into the subject as i wish to make it my real profession. I went through quite alot of books and webinars and many videos on youtube regarding price action and chart patterns and also chart analysis with addition to many other indicators such as moving averages, fibbonaccis and non the less even ichimoku. After doing so much research and studies i got lost finally ending up no where. I was much better trading eith the indicators and oscillators but now when i have started following price action i could have almost lost the potence of indicators.
With all said i am now confused that where should i start from, if i stick to indicators and oscillators i wont get really a professional trader but if i research on price action charts and fibbs and ichimoku i am lost. So please help me find the real steps that i should follow that ends up in understanding and mastering the things. Though a newbie but has had so much in mind now about forex that i cant start anywhere. Hopefully u understand what i am asking and would help me out.
Thanx in advance
  • #302
  • Dec 26, 2015 4:49am Dec 26, 2015 4:49am
Well, I’m new and spend a few hours reading everything on this site; I know a bit about candlesticks, Is the Asian session considered the start of the trading day for the candle stick patterns?
  • #303
  • Dec 30, 2015 6:40am Dec 30, 2015 6:40am
Quoting renasdad
I have a feeling this is a thread noone has posted before. I love helping people. I know what it is like to not have a clue when it comes to know where to start with this forex jargen. If there is anyone that has questions that they feel are too stupid to ask publically, you can PM me. If there is anything that doesn't make sense to you, ask. If I don't know the answer, I will do my best to find it. I come here everyday looking for the "newbie" questions to find someone already ansered them. I love helping people. There have been so many people...
Thank you for offering to help newbies like me! According to your experience, when is the right time to switch from demo to real? And also could you recommend any trustworthy brokers?
  • #304
  • Dec 30, 2015 6:47am Dec 30, 2015 6:47am
  •  Zinot
  • | Joined Dec 2015 | Status: VUIP - Very UnImportant Person | 138 Posts
Do you know ask this question in every Thread!?
Insanity: doing the same over and over again & expecting different results!
  • #305
  • Jan 7, 2016 7:14am Jan 7, 2016 7:14am
Hi everyone. Sorry I haven't been around for a loooonnnnnggggg time. I was surprised,very surprised actually to see this thread is still active. I hope it has given inspiration/motivation to a bunch of you. I will do my best to find the time to get on here at least once a day to check things out. I'm looking forward to meeting a bunch of new people and hopefully re-connecting with a bunch of you good 'ole boys from back in the day. I can't believe its been this long since I've been on here. Happy trading ​
JOHN 3:16
  • #306
  • Jan 7, 2016 7:35am Jan 7, 2016 7:35am
Quoting luciefxtrade
{quote} Thank you for offering to help newbies like me! According to your experience, when is the right time to switch from demo to real? And also could you recommend any trustworthy brokers?
​

Well, it varies from one person to the next. A person that has no clue what they are doing should not open a live account. It all depends on the person. I will sat this though...demo trading and live trading are two totally different things. There isn't a lot of emotion involved in a demo account unless you are looking at it like a game. I will say that when a person does open their first live account, start small because it doesn't take long to lose all the money you put in. Whatever amount you want to use to open an account, put half that much in there and save the other half.
JOHN 3:16
  • #307
  • Jan 7, 2016 7:40am Jan 7, 2016 7:40am
Quoting KhanAsim
Hello Rensdad, Hope you are doing good. I had a few questions in my mind which i want to ask though not that much difficult to answer yet im unable to answer them myself. Hope it wont be an ache for u. Right now im trading as newby in forex on demo accounts and as per the advice of a cousin i started trading with indicators and oscillators and found them quite good enough to trade on but slowly and steadily i started digging into the subject as i wish to make it my real profession. I went through quite alot of books and webinars and many videos...
​

Go back to the basics. The only 2 things I use when I'm trading is patters and price action, and maybe a little fibbonacci every once and a while. To me, there is no need to mess up the charts by putting a bunch of indicators up. Go back to the basics and just master those
JOHN 3:16
  • #308
  • Jan 7, 2016 7:44am Jan 7, 2016 7:44am
Quoting 12345abc
Boy...I could go a while on this.......money is not evil or un-Christian....it's what you do with it.......God has given me a talent and I am using it....I use my talent to change other peoples lives for the better financially.....there is nothing in the Bible that says the only money you can make is if someone else doesn't lose any....(please provide the scripture) I would submit the sin in life is to be so obsorbed by money because you have none..than having it and using it for the good...the lack of it is the root of most failed marriages, it...
​
Totally agree. What's wrong and the Bible does say it, is....The love of money is the root of all evil. Money, and having it is not evil, but the love for money is.
JOHN 3:16
  • #309
  • Jan 7, 2016 12:28pm Jan 7, 2016 12:28pm
Hello guys, I do probably need a help... or a wisdom/hints... I'm going to open a live account with about 2000 - 3000 € (of savings) at FXCC (1:3 leverage, may change if you say so) and before I touch anything on a live account, I do need a bit help with Money Management setup, because I am missing out what should I do and do math about, what's important, I've heard about position-sizing, risk management, accurately placing stop-loss and so on...

my idea is to trade by swing strategy at D1 timeframe (I think that's optimal for me, to given account size), holding swings from 2-12 days. And I just need to find the optimal way, how to set it all up.
  • #310
  • Jan 7, 2016 1:48pm Jan 7, 2016 1:48pm
Hi, Pbx! Although I don't know how long you have been trading. However, unless you have had consitent trading efficiency with a functional system you have long tested and found success with, you should start small. Do a lot of reading and practice what you are learning. Money management starts with trading far less money than you can afford to lose and getting a good trading mileage with your trading account. Best

KP
Do your homework, follow the footprints of smart money
  • #311
  • Jan 7, 2016 2:06pm Jan 7, 2016 2:06pm
I'm just occasional trader, I tried intraday on demo account, but it does not suit me well. Maybe I'm ahead of myself... so you are saying, firstly have some strategy and then afterwards move to have money management thing and not vice versa?
  • #312
  • Jan 12, 2016 6:06pm Jan 12, 2016 6:06pm
What is a broker to use as a minor?
I am a minor,and I live in California
  • #313
  • Jan 13, 2016 11:51am Jan 13, 2016 11:51am
Quoting BitcoinMania
What is a broker to use as a minor? I am a minor,and I live in California
I'm not sure. ​
JOHN 3:16
  • #314
  • Jan 13, 2016 1:13pm Jan 13, 2016 1:13pm
Knowing when to get out is a common thread that costs a lot of people money. I'm a newbie and this is what I've learned!
  • #315
  • Jan 13, 2016 9:14pm Jan 13, 2016 9:14pm
Quoting KhanAsim
Hello Rensdad, Hope you are doing good. I had a few questions in my mind which i want to ask though not that much difficult to answer yet im unable to answer them myself. Hope it wont be an ache for u. Right now im trading as newby in forex on demo accounts and as per the advice of a cousin i started trading with indicators and oscillators and found them quite good enough to trade on but slowly and steadily i started digging into the subject as i wish to make it my real profession. I went through quite alot of books and webinars and many videos...

Hi once again KhanAsim, I re-read your post and would like to try to go a bit more in depth about this. I know exactly how you feel when it comes to reading lots and lots of literature. When I started learning about forex youtube wasn't that popular so I never watched any videos on it. I did buy a pack of cds for quite a bit of money which taught me quite a bit. But I would say, almost all of the best things I learned came right from this forum. I tried other forums but only lasted a cpl weeks if that. It was all a bunch of ppl putting each other down or bragging about how good they were. Anyhow, one thing to always remember is all indicators show you what price has already done. There aren't any indicators that show what is going to happen. If a person can put the right indicators together that work for them, then there is a good chance of them being beneficial. I spent quite a few years playing with different indicators that seemed to work well but never did that good. Many combinations of indicators need to be used with discretion also which means one person can use them and get good profits while another person can use the same combination of indicators and loose more often than win. To me, price action and patterns work the best although, it takes discretion when trading that way too. I hope this helps. If theres something you don't understand, go ahead and ask more ​
JOHN 3:16
  • #316
  • Jan 13, 2016 9:17pm Jan 13, 2016 9:17pm
Quoting Argee3
Knowing when to get out is a common thread that costs a lot of people money. I'm a newbie and this is what I've learned!
Getting out is my downfall as well. I don't have much of a problem getting in on good trades. When I see those pips going up its hard to cash out. I'm not sure yet but I think Fibonacci in one of the keys to helping us with that. ​
JOHN 3:16
  • #317
  • Jan 14, 2016 10:40am Jan 14, 2016 10:40am
hey Renasdad, here's a strange but very real question for you. What if you had a fantastic ea for MT4 for scalping indices that is bringing in 2% account growth daily for the last 7 months. How would you capitalize on it if you were a resident of the USA and unable to trade CFDs in this nature except for through a demo account?
  • #318
  • Jan 14, 2016 12:23pm Jan 14, 2016 12:23pm
Quoting chosen1
hey Renasdad, here's a strange but very real question for you. What if you had a fantastic ea for MT4 for scalping indices that is bringing in 2% account growth daily for the last 7 months. How would you capitalize on it if you were a resident of the USA and unable to trade CFDs in this nature except for through a demo account?
Since CFDs are not allowed to be traded in the US, I would suggest testing your EA on other markets. If it doesn't work tweak it a little bit and see if you can get it to work for something else. Other than that, you'll have to move to a country that allows CFD trading.
JOHN 3:16
  • #319
  • Jan 14, 2016 12:56pm Jan 14, 2016 12:56pm
Quoting renasdad
{quote} Since CFDs are not allowed to be traded in the US, I would suggest testing your EA on other markets. If it doesn't work tweak it a little bit and see if you can get it to work for something else. Other than that, you'll have to move to a country that allows CFD trading.
Thanks for the feedback renasdad. I guess I'm going to have to move to the Bahamas after all!
  • #320
  • Jan 14, 2016 12:58pm Jan 14, 2016 12:58pm
Quoting chosen1
{quote} Thanks for the feedback renasdad. I guess I'm going to have to move to the Bahamas after all!
When you go, take me with
JOHN 3:16
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