How to start learning forex trading

[lee.belisar]

well it looks like the mods are happy with it...

Are they? :cheesy:

 

[George A]

No worries. I'm reading all the posts here. And I am weighing all those words. You know its a great learning anyway. Also I am backing it up with my own research.

Hello Lee,,,
It is always refreshing to read ur words , because i like the gentle and relaxed way you write .
I love ur passion for this market that is showing through ur words . :clap:
keep going this way ,, as i am sure you will get there Buddy ,,, nothing happens over night ,, it all happens over time .
The most important thing IS ,, keep your focus on YOU , and no one else .
you be your own judge , and dont let anyone judge you , and never compare or challenge anyone , because, it will limit ur abilities to only their abilities .
By the way Lee ,
Are u still studying ?? or have u set up a demo account to test ur findings ????
Cheers,
George

 

[lee.belisar]

as long as you analyse the swings correctly, of course..oh sh!t we're back to square one again!

So it would be a bit like trial and error scenario? If the thing did not work after the first try, we have to go back to where we started and try again and again until that thing works?

 

[lee.belisar]

Mike,

Anyone can PM anyone else to help them out. At no point in any of my posts have I even suggested that there is anything wrong with this. T2W exists for the very purpose of members helping one another out. However, it has to be done in the correct way. George's way is the incorrect way and I have explained why in the clearest terms possible on at least 4 occasions in this thread.

You've only made reference to the first half of point 2. The second half reads: "However, it can be abused - and has been abused in the past - and T2W has a duty of care towards its members to try and prevent further abuse in the future." I then elaborate on this from point number 7 onwards. Please re-read them carefully.


The PM facility has nothing to do with the Mods. It is there at the discretion of admin' and, as far as I'm aware, there are no plans to disable it. However, as I've made clear repeatedly, we do have a duty of care towards our members as, sadly, some people will abuse this facility.

I'm very glad to hear it.

There is no argument about whether or not George has explained his theories publicly. He hasn't: that's a simple fact. His passion, skill and expertise all amount to zilch, nada, nothing if he isn't prepared to share it publicly for the benefit of all members. A ten year old who doesn't understand the difference between bid and ask can post on here and claim to be passionate about forex and give the impression they're some kind of guru. In the absence of clear explanations backed by practical examples of how they can be applied to the markets - such claims are utterly worthless.

Let' me be very clear here. If George does provide full explanations backed by practical examples of how to implement his ideas and then, unprompted, a member chooses to send him a PM asking a question - that's absolutely fine. That's what the PM facility is for. But that's a completely different kettle of fish from implying he has knowledge - but is only willing to share privately via PM. The latter is completely unacceptable. I'll wager that everyone bar you, George and possibly Dick understands and accepts this very basic point. In any event, it's forum policy. Those who breach it will have their posts reported and the Moderators will take appropriate action.

I am not trying to persuade any member from getting advice from George, you, Dick or anyone else. If they choose to do that - good luck to them. However, (and this is 'official' T2W advice), they would be well advised to conduct due diligence and do everything they can to ensure that the person they seek advice from is going to be able to provide them with whatever it is they want to know at a 'price' they can afford. Important: please note that 'price' need not be payment necessarily, it might just be hard work on their part. (In other words, I'm not accusing George of being a closet vendor.)


If George posts his ideas clearly on the public forum then many members will be able to do exactly that. Why he chooses not use the facilities available for the very purpose for which they are intended is precisely why he's in such hot water at the moment.

I won't be much longer as, the more this goes on, the more convinced I am that it's just a wind up designed to waste my time. However, it has provided the opportunity to explain what the issues are so that new members unfamiliar with the way community forums like T2W work, now have some insight which will, hopefully, leave them a little wiser and mindful of the proverb: 'fools rush in where angels fear to tread'.
Tim.

I agree, PM is OK as long as the person messaging you out does not spam you. The PM facility is the discretion between the sender and the receiver. Anyway, the receiver can report and/or block from his list of friends the private message sender if he thinks that the message is an unsolicited one.

 

[lee.belisar]

Timsk
IMO there is nothing wrong with sharing information in private so stop making this a big deal.
Not everyone who wants to help people or doesn't stick to your rules is a scammer
so how about you let people decide for themselves what they want to do?
I imagine you are not selling anything either so George is not taking your customers....

Rules are set to be followed (though we have to make an excuse only in very super special certain cases). Rules help to make all things at ease. Otherwise, it will be very disorganize and the likes. PM is OK. But we have the responsibility to use it right and according to the rules set. People also have this free will. In the end, of course, they will be the one to make the sole decision for themselves.

 

[lee.belisar]

Rules are set for a reason. You can love them or hate them. If George or anyone else doesn't want to play by the rules then go elsewhere. Whether he is a scammer or a genuine nice guy makes no difference. Personally, I can't understand why this entire thread still exists, completely devoid of any content. It's just a p1ssing contest between George and an admin, and since we're still here then it appears George is winning. A testament to what is wrong here at t2w.



Peter

Hi Peter. I strongly agree with you. Rules are there to be observed and followed. No one, even the admin and mods, are excepted from these rules. All of us here in the community should followed the rules set. Otherwise, there would be no direction here and it would be very, very messy. The reason why I am here is to learn more given that I am a new trader. But with the last recent posts and comments, I do not see it that way. But I am enjoying reading the intellectual discussions of the members here. :clap:

 

[lee.belisar]

Hi Everyone!

It's been ages since I've posted.. a good few years in fact. If you look at my profile, you'll see that I joined this forum in 2003 so it's been 10 years. I found that I was most active on the forums at the beginning seeking as much information as I could, reading as much as I could and following the advice of all the 'gurus' that appear to have wise words.

Learning to trade took a heck of long time and quite a few blown accounts. I can now say that I find trading relatively simple.. i simply buy when it looks like it is going up and sell when it is going down. I enter only on pullbacks and I take my signals off the Daily charts and confirm directly looking at the Weeklies.

If I were to learn to trade again from the beginning, I would say that how you see and view money is very important. If you don't have money to live and eat, you should not be trading. Learning to trade involves using money that is truly spare money that you have put aside and wont affect you greatly should you lose it. You fall into all sorts of trading psychological traps otherwise which will stunt your learning and cause you to lose more.

Then it's your attitude to money... this took me years to get right. You have to be comfortable with losing money.. at the beginning, it could take me days to get over a loss.. I would get angry and revenge trade or do something else rather stupid. Now, I accept my loses calmly.. I also have a set stop and when I've entered my trade, I can truly accept the loss should the stop be hit.

I found following other so called gurus or reading financial news would mess up my trading systems. Sometimes I would read that some big shot is bearish on Gold when the previous day I've gone Long. I would constantly think about my trade and then close my trade or even go short as the guru is bearish. This means that you're not following your own strategy.. the so called guru may not even be trading the same timeframe as you and sometimes they maybe wrong.

Frequently people learn to trade by daytrading. Daytrading is really difficult! You're more likely to be completely frustrated with trading and burn out if you start learning to trade by daytrading. I'm not saying it's impossible but it's darn right difficult particularly if you're a newbie. Learn to trade using the longer timeframes.

And that's all I can think of for now. I've spent the last few years trading quietly with the knowledge that I've acquired, practicing and refining myself and the process of trading. I still make mistakes but overall, trading has become rather relaxed, enjoyable and profitable!

Good luck to you all!

BD

Now this is what an example of what I am after this thread. Thanks for sharing your experiences BD. Its noted and absorbed right there in my brain cells.

 

[lee.belisar]

Going through the posts (except for bottomdollar), I've noticed that those are mainly your words versus his and their words. I think this may mislead newbie traders, like me, who are seeking more knowledge about Forex trading. I, myself, is actually here to learn from other traders esp from the experts and experienced ones, and also to share my little ideas and knowledge about the subject matter so others can learn from me too. I think it would be better if we just go back to the main essence of the thread, How to start learning forex trading. Intellectual discussion is OK because we are actually learning from it, learning a lot because we are given a chance to think and analyze. But hitting below the belt is another issue. I mean, I've seen some posts sort like attacking his words and doing the same in return. But I am enjoying this conversation, really.

 

[lee.belisar]

Hello Lee,,,
It is always refreshing to read ur words , because i like the gentle and relaxed way you write .
I love ur passion for this market that is showing through ur words . :clap:
keep going this way ,, as i am sure you will get there Buddy ,,, nothing happens over night ,, it all happens over time .
The most important thing IS ,, keep your focus on YOU , and no one else .
you be your own judge , and dont let anyone judge you , and never compare or challenge anyone , because, it will limit ur abilities to only their abilities .
By the way Lee ,
Are u still studying ?? or have u set up a demo account to test ur findings ????
Cheers,
George

Thank you George. Yes, still I am trying a demo account. Actually, I am doing three of them. One is GDMFX. Two is FXOpen. And three is InstaForex. I've been practicing with GDMFX for more than two weeks now. FXOpen and InstaForex, I just signed up for a demo account two or three days ago. A friend actually suggested to try those accounts and then decide which to go later on.

 

[darktone]

It's simple guys it's an open forum and no one in their right mind will post their winning strategy on here.

Really. Why do you think that?

 

[NVP]

Hi Everyone!

It's been ages since I've posted.. a good few years in fact. If you look at my profile, you'll see that I joined this forum in 2003 so it's been 10 years. I found that I was most active on the forums at the beginning seeking as much information as I could, reading as much as I could and following the advice of all the 'gurus' that appear to have wise words.

Learning to trade took a heck of long time and quite a few blown accounts. I can now say that I find trading relatively simple.. i simply buy when it looks like it is going up and sell when it is going down. I enter only on pullbacks and I take my signals off the Daily charts and confirm directly looking at the Weeklies.

If I were to learn to trade again from the beginning, I would say that how you see and view money is very important. If you don't have money to live and eat, you should not be trading. Learning to trade involves using money that is truly spare money that you have put aside and wont affect you greatly should you lose it. You fall into all sorts of trading psychological traps otherwise which will stunt your learning and cause you to lose more.

Then it's your attitude to money... this took me years to get right. You have to be comfortable with losing money.. at the beginning, it could take me days to get over a loss.. I would get angry and revenge trade or do something else rather stupid. Now, I accept my loses calmly.. I also have a set stop and when I've entered my trade, I can truly accept the loss should the stop be hit.

I found following other so called gurus or reading financial news would mess up my trading systems. Sometimes I would read that some big shot is bearish on Gold when the previous day I've gone Long. I would constantly think about my trade and then close my trade or even go short as the guru is bearish. This means that you're not following your own strategy.. the so called guru may not even be trading the same timeframe as you and sometimes they maybe wrong.

Frequently people learn to trade by daytrading. Daytrading is really difficult! You're more likely to be completely frustrated with trading and burn out if you start learning to trade by daytrading. I'm not saying it's impossible but it's darn right difficult particularly if you're a newbie. Learn to trade using the longer timeframes.

And that's all I can think of for now. I've spent the last few years trading quietly with the knowledge that I've acquired, practicing and refining myself and the process of trading. I still make mistakes but overall, trading has become rather relaxed, enjoyable and profitable!

Good luck to you all!

BD

ive copied this again as every damn trader should read it ......its what trading is all about and how you make it happen (or not)

N

 

[NVP]

Going through the posts (except for bottomdollar), I've noticed that those are mainly your words versus his and their words. I think this may mislead newbie traders, like me, who are seeking more knowledge about Forex trading. I, myself, is actually here to learn from other traders esp from the experts and experienced ones, and also to share my little ideas and knowledge about the subject matter so others can learn from me too. I think it would be better if we just go back to the main essence of the thread, How to start learning forex trading. Intellectual discussion is OK because we are actually learning from it, learning a lot because we are given a chance to think and analyze. But hitting below the belt is another issue. I mean, I've seen some posts sort like attacking his words and doing the same in return. But I am enjoying this conversation, really.

T2W is great if new traders read between the lines from the people that have been a round the block and are giving some honest feedback from their perspective ......

if you look through enough of these "is it easy to trade ? / how much can i make ? / will i be sucessful ?"


....Threads you will hopefully deduce the things it could take painful years to learn

1) that it is not easy
2) the journey will be expensive and mind warping
3) there are no guarantees about a happy ending

there is nothing more, nothing less in the consistent message and the wannabee traders have then been warned ......

N