getting started

[grh395]

I am a bit of a newbie too. I learned with Lee Sandford who runs a training school in London which has a pretty good reputation I believe. They are very supportive.

 

[the hare]

Guys, if any of you are making money with this, then please can you point me in the right direction. I dont wanna see you lot digging at each other

This question was answered on the previous page. You will not find what you are seeking here.

Close your browser, stop wasting time on forums, open a chart and start looking. 10 thousand hours of reseach should be enough to get you started, and yes, I am being serious.

 

[stopdownlimitup]

Guys

I am new to Forex trading, and need training that isnt going to cost an absolute fortune.
I have seen loads of sites online that seem like complete rip-offs
I need your help[/QU

I use www.cannontrading.com ....

 

[Stirf]

Guys

I am new to Forex trading, and need training that isnt going to cost an absolute fortune.
I have seen loads of sites online that seem like complete rip-offs
I need your help[/QU

I use www.cannontrading.com ....

Don't go there... Why teach when you can trade? Accept that markets move at random and there is NO way to predict the market's next move. The only way to make profits in such an environment is to limit your losses and let your profits run.

I've already made my point, but think about this... Why would anyone work at a vendor e.g. customer support or marketing when at the same time that same person can make thousands of dollars using the same approach his or her employer sells? Why work 9 till 5 when you can be working at home with all the freedom and cash that comes with it. The answer is simple: what they sell doesn't work.

The thing is however we want to believe it works coz we all want that financial freedom so so bad!! Stay away from vendors, no matter what they promise you.

 

[Successful_Trader]

My advice is definitely do your research before you jump in... just jumping in not knowing anything doesn't do any good. The other advice I have is use the demo before trading live... it definitely helps to get your feet wet that way.

 

[munchiedude]

im a newbie here but ive given this a bit of thought and would say this:

make records of every trade you make, including entry, exit, stop loss, targets and most importantly, the reasons WHY, i.e. if u have a predefined strategy (and u should) then follow it for 50-100 trades and then tally the %age of winners and losers. if your system after 100 trades is losing 70-80% of the time for example, then why not consider doing the exact opposite when entering and exiting?
that way, the trades u lose 80% on now becomes the winning 80% etc...

nt sure if this is flawed logic but if the record keeping is accurate, simply reversing the reasons for entering and exiting could yield results?

just my 2 pips

 

[Stirf]

Very much agree to that, you should always keep a trade log... ALWAYS!!! Most difficult thing is to be honest when keeping a trade log. You might wanna ask someone to check your trades at the end of the day in the SIM. Remember, if you're not being honest with your trade log the first person that get's f*cked when you're switching from SIM to live is.... Yep, is you:cheesy:!

I don't agree however with the "profit target". But that's because I trade on the "limit your losses and let your profits run" principle. When long I ALWAYS keep they way up open. I don't take profits I PROTECT profits by adjusting my stop loss. And on profitable trades I get stopped out by my stop loss and that stop loss is in the money when the market eventually turns against me after an. e.g. 4 hour trade. Vice versa obviously when being short.

 

[munchiedude]

Very much agree to that, you should always keep a trade log... ALWAYS!!! Most difficult thing is to be honest when keeping a trade log. You might wanna ask someone to check your trades at the end of the day in the SIM. Remember, if you're not being honest with your trade log the first person that get's f*cked when you're switching from SIM to live is.... Yep, is you:cheesy:!

I don't agree however with the "profit target". But that's because I trade on the "limit your losses and let your profits run" principle. When long I ALWAYS keep they way up open. I don't take profits I PROTECT profits by adjusting my stop loss. And on profitable trades I get stopped out by my stop loss and that stop loss is in the money when the market eventually turns against me after an. e.g. 4 hour trade. Vice versa obviously when being short.

yea, i agree with that, im a noob so not much experience to speak of but im adopting your thinking there regarding profit targets...YOU DA MAN!

 

[Stirf]

yea, i agree with that, im a noob so not much experience to speak of but im adopting your thinking there regarding profit targets...YOU DA MAN!

You can thank me when you turned my ideas into profits from the market !

 

[munchiedude]

You can thank me when you turned my ideas into profits from the market !

lol:clap:

havent as yet turned your ideas into profit but i have adopted a cancel and replace technique which coincides with your minimise losses and let profits run, and i have to say its working better, i know this cos when i first started live trading, every trade was a loser, now at least its going back up!

YOU DA MAN!

 

[Stirf]

lol:clap:

havent as yet turned your ideas into profit but i have adopted a cancel and replace technique which coincides with your minimise losses and let profits run, and i have to say its working better, i know this cos when i first started live trading, every trade was a loser, now at least its going back up!

YOU DA MAN!

It's hard to draw conclusions after a few weeks of trading. But if you like I can send you an exercise based on my own trading strategy. My email is in the attachment. Not sharing the details, but the exercise gives you a good direction.

You can refer to this thread so I know where the request came from. And in case you're gonna skip on the offer, of course that's fine as well !

 

[munchiedude]

It's hard to draw conclusions after a few weeks of trading. But if you like I can send you an exercise based on my own trading strategy. My email is in the attachment. Not sharing the details, but the exercise gives you a good direction.

You can refer to this thread so I know where the request came from. And in case you're gonna skip on the offer, of course that's fine as well !

thanks for the offer, i would like to take it up as i think the insight would be good experience.

i didnt see an attachment to this post? and im lost as to what you mean by "You can refer to this thread so I know where the request came from"???

 

[Stirf]

My emailaddress is in the attachment with this thread. Send me an email and I'll send some usefull documents over.

I'm out for the rest of the day, so will get back to you tomorrow.

 

[munchiedude]

My emailaddress is in the attachment with this thread. Send me an email and I'll send some usefull documents over.

I'm out for the rest of the day, so will get back to you tomorrow.

thats the part i dont get, lol where is the attachment?