Joe, you are really overestimating the significance of having Ph.D. )) But I like your encouragement.
BeginnerJoe
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Joe, you are really overestimating the significance of having Ph.D. )) But I like your encouragement.
I reckon you are underestimating it. People are simple don't you see, and I have worked with plenty of simple people. Try approaching the little hedge funds directly and you will see they will give you a job in no time if you accept low pay for a foot in the door. It's much easier to get into the proper side of trading using that route than trying to gamble from your bedroom
.Life is funny isn't it ? Those who have it, don't know what to do with it. Those who don't have it, know exactly what to do with it. It being anything of consideration.
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Are you sure you have a PhD in Physics? You ask about Forex and after a few replies from people you know absolutely nothing about, you decide to not research the Forex market! I thought that having a (decent) PhD in Physics means you can carry out your own research, problem solve and think for yourself...
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If you are genuine, then in my very humble opinion, I would first suggest looking into how the Forex market works, who the players are etc etc. From this you could then research some trading strategies. Your physics background may give you an edge in figuring out which methods may have an edge and which ones are nonsense. Would also suggest some probability.
Question and understand as much as you can and think for yourself (all of which I assume is an important part of the PhD process)
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Why do you and others continually come out with this trash? If the OP is genuine, your post is as about as much help as those topics you list. Of course there are scammers out there but no idea why you guys continually witch hunt and try to protect others. Don't really know what you expect to accomplish. Let people make up their own minds and maybe it is better that people learn the hard way.
If you do make any money from trading, have you thought about using it to help pay to remove that very large chip from your shoulder? :cheesy:
What aspect of my post is trash? Were FXCM not fined for ripping off clients? Were FXDD not being indicted by the authorities? Did Senen Pousa not run an unregulated forex scheme? Tell me, what have I said that is not true?
Sorry, sorry. Clearly you know better, what with your £56 in profits since May you're clearly a big hitter in the industry. What do I know.
http://www.trade2win.com/boards/trading-journals/149006-annual-targets-roi-15-dd-10-a.html
http://www.trade2win.com/boards/trading-journals/149006-annual-targets-roi-15-dd-10-a.html
Not sure how I feel one way or another about people losing their money. There will always be scammers because there will always be suckers out there. There was a program on TV a few months back (BBC2 I think) about people who sell courses on how to get rich or whatever and the people who spend thousands (and alot of time) on these courses. I thought it was crazy to pay these people but it is their choice and I really don't care one way or another as have more important things to think about. I don't really have much sympathy for people who hand over money hoping for a quick way to get rich though. It is their choice and good luck to them.
Not quite the same thing but if someone needs a good tradesman or whatever, the done thing is to recommend the good ones and not just point out all the cowboys. Just would be good to see less negativity and more constructive arguments on this site.
It's not like the people who pay up were forced to, I assume they had a choice.
You really aren't going to prevent people from paying these scammers or coaches.
Everyone gets scammed at some point in their life. By this I mean paying for things that we don't really need: new cars, new phones, warranties, health products etc
Yes I have only made £56 on a starting account of £560. It's actually slightly less than this now but it is the percentage that is important to me at the moment, not the £'s. I usually risk around 0.25%-0.5% (my last trade is 0.7%) per trade. So some people would say that is a 10% profit since April. It's been higher and lower, but I am happy with that. My largest drawdown is around 10%. All positive for me and will hopefully improve on this.
Thank you for providing a link to my journal but it is already in my signature.
I am obviously not a big hitter in the industry but I never claimed to be!
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Hello everyone,
I would like to strat Forex trading. I am a quick learner with University background (Ph.D in Physics) and have a few thousand GB pounds to invest. My Forex education is minimal, I just read some articles, forum posts and went through a Forex Rebellion course by Russ Hord on his trading system for MT4. It seems pretty clear and relatively easy to grasp, but I lack any practical experience whatsoever.
From what I read so far it's best to open a demo Forex account and do some dummy trading to learn the ropes. What would be a good platform/service to start with this?
Another big question is - do I really need a broker or is it best getting a solid private coaching, practice with demo and start trading on my own? Any particular private coach/mentor from this forum (or elsewhere) that you could recommend?
Sorry to ask so many questions from the start, but I really need some help in developing strategy on how to approach the whole thing. Any ideas and suggestions are highly welcome!
thanks a lot
Hi AntVel,
My name is Ezane, I am a trader and a coach. First of all, I will say that Investors looking to enter the world of foreign exchange can find themselves frustrated and quickly spiraling downward, losing capital rapidly and optimism even faster. Investing in fx- whether in futures, options or spot - offers great opportunity, but it is a vastly different atmosphere than the equities market. Even the most successful stock traders will fail miserably in forex by treating the markets similarly. The reason is that the fx trader must understand the rational the foreign exchange market. Indeed, there a need to treat forex as a business not as a hobby I mean you must devote your time to it and understand what has happened and what is about to happen in the market you want to trade. So, what we need to do now is to back text the system you have for some time and it will allow you understand the system, when you should trade and when you should not. It will also going to let you know the accuracy of that particular system because you should not use a trading system that has a very low probability of winning. However, you must stick to your system, be patient and discipline. All these must be done in a demo account and there are very easy fx platform to be used. What you have to do is to get a coach who will mentor you instead of a broker because the broker is there for his fees. When you win, he makes money and when you loose he also make money. Before jumping in with the sharks, getting trading advice from a coach and I am one of them in the highly volatile forex marketplace should be a top priority.
Good Trading
So if you hit your SL at 10%, you'll have make nothing.
Doesn't seem like good Money Management to me.
What?! I really have no idea what you are saying.
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Oh, looking at your first few pages of posts when you joined T2W, it looks like you yourself have signed up to quite a few signal services and products. So I am guessing you have been hoping to find that get rich quick product only to then realise you got scammed and burned. Explains your witch hunting and negativity.
Not having a go at you or anyone.
BeginnerJoe
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For those who are capable of learning, losing a little money is healthy and accelerates their learning. If you didn't lose some, would you have learnt all vendors are bad ?
Just what I was thinking. It never ceases to amaze me just how many people (even those who've proven themselves to be among the cleverest in one discipline) can come here, read a majority of quasi-negative responses and then promptly announce their retirement before the game even begins.
Provided the OP has money which he is prepared to lose in the learning process (which can take years), you should know that those who succeed at trading are those who can go from failure to failure without losing their enthusiasm nor closing their mind to learning, until finally they could become one of the few who gets it, and the game changes.
Meanwhile, the world is so richly and wondrously varied because there are people who took the 'other road', and did something against the odds. The downside to that is that there must be a majority of losers and a minority of winners. That unfortunate fact applies whatever you decide to do in life. That's how success works in everything. We can't all be the boss! Unless you want a safe, ordinary desk-job existence, you will have to take risk in whatever you do in life. That's not to say trading may be for you, but who among us can really know enough about you from what you've written, so as to conclude, with any degree of certainty, that you wouldn't be able to become one of the successful?
i hope the OP hasn't been completely scared off. I don't really see the point of just shooting down every newbies dreams just because you've not had the success or you're feeling better.. Obviously there's no point filling them with hot air either, but can at least offer some constructive advice.
