Im begining forex trading. .

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gnr2206

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Ive been trading for the last few months on a practise account from oanda.

Ive been profitable but i still dont feel like im properly trading. What i mean to say is that i dont really know how to forward test statagies. Like what should i be thinking about for tomorows day of trading. What news should i be looking out for that would affect lets say the EUR/GBP etc. I understand TA and fundamental; i am 17 and economics is one of my stronger subject. Also of topic but im average at maths; will this be a hiderance?

Any tips for a relative beginner? I dont wanna go live until i have a solid trading system.
 
Blimey 17, good for you, speculation, it's the new garlic bread. Might as well, there's gonna be fook all else jobs paying decent graduate level wages...

OK, go live, with FXCM micro or IG's trade sense programme. Fund either with a hundred quid, only trade one security, EUR/USD. I'd suggest starting trading offa 15min TF but I'll defer to the general consensus of 1hr TF. You'll probably get 2 decent signals a trading day. Even your hundred quid should take a while to lose and you will lose it first time out but, as we've all said ad nauseum, losing very very slowly is in fact a brilliant opening place to start for so many reasons I couldn't fit it in a few paras. Keep a record of your results (4-6 weeks) and come back to us all.
 
gnr2206,..Intraday, see if you can spot the short term highs and lows, that are posted during the sessions!
If you learn to spot these particular prices with accuracy, you'll be able to trade from them successfully, every single day.
There is always resistance at the highs,..and support from the lows.
Keep looking, and eventually you'll get the picture,...good luck! : )
 
I would say be careful who's advice you take, there are plenty of people on here (and everywhere in life) who seem like they know what's what, but really don't have a clue.

Find out what your believes are regarding the markets then try to trade with your own believes not against them. When you go live, risk enough to make it hurt when you lose, but not too much that its really painful.

Regarding maths. I can add 2+2=5? but that's about it, who cares ;-)....

Mostly, trading isn't about maths, its about mastering risk, yourself, and your chosen method/system.
 
Rossini,.....When one believes something,..it becomes ones belief !,....just saying
BTW: Are you Italian?
 
Hilarymannah said:
Rossini,.....When one believes something,..it becomes ones belief !,....just saying
BTW: Are you Italian?
Click to expand...

Just to clarify, my comment was not specific to anyone in particular.

Im not quite sure what you point is when you believing something makes it become belief? That seems obvious doesn't it?

In part I am yes, but really I just like the name ;-)...
 
here are some charts i made notes on



this is of the currency EUR/USD. the resolution is fairly sh1te and i didnt knw that before.

could anyone help me by telling me how what i should i be looking for when viewing a chart.
 
Last edited by a moderator:
Hilarymannah said:
gnr2206,......You tried those links?
Click to expand...

i dont get what you say to be honest. The quality of them is pure ****; idk what that website done to them; sorry. There just screen shots from FXCM practise account. I want tips on how i should be analysing these things.

Im starting to think that TA is a load of BS. Like fundamentals are what drive the market. I doubt that investors analyse every tick of the market; i feel that they buy it because the currency/stock is hot. Im starting to believe that TA is like looking a clouds; the more you look you can find meaning in just crap. Im fully open to critcism on this.
 
gnr2206 said:
i dont get what you say to be honest. The quality of them is pure ****; idk what that website done to them; sorry. There just screen shots from FXCM practise account. I want tips on how i should be analysing these things.

Im starting to think that TA is a load of BS. Like fundamentals are what drive the market. I doubt that investors analyse every tick of the market; i feel that they buy it because the currency/stock is hot. Im starting to believe that TA is like looking a clouds; the more you look you can find meaning in just crap. Im fully open to critcism on this.
Click to expand...

jim simons seems to do very well with TA..but then again, he's always adjusting it to current market conditions, but nevertheless, he's a TA/math trader for the most part

http://www.mefeedia.com/video/31511267

I think if you make about 2.0 billion a yr, you got it down, right!?
 
gnr2206 said:
1: I want tips on how i should be analysing these things.

2: Im starting to think that TA is a load of BS.

3: Like fundamentals are what drive the market.

4: I doubt that investors analyse every tick of the market;

5: i feel that they buy it because the currency/stock is hot.

6: Im starting to believe that TA is like looking a clouds; the more you look you can find meaning in just crap.

7: Im fully open to critcism on this.
Click to expand...

Wow, quite a volte aface list there OK;

1: Actually you don't want tips, you want short cuts, quick answers to complex theory, a 'bang-on' profitable strat that works time and time again. There are none. Watch charts, and what price does on 'em for a year, (whilst trading tiny amounts of money), and you may start to become proficient in this business. Oh, and I mean 12 months full time, not EOD fitting it around normal work schedules, if doing that add on another 2 years to your sentence..:D

2: In what way, look, an edge is simply a higher probability of one outcome happening in your favour versus another not in your favour. Think of it as a two horse race, both horses ran yesterday, so you know the most recent form...beyond that how deep do you want to get into TA and totally rely on it? I'm hard core TA but know the majority of this profession is discretion.. There are guys/firms out there who've taken huge amounts from the market using 2 MAs...that's it. Does TA *work*? Hell no, the player makes it work...

3: On forex yep. On equities or commodities?..hmmm....not so sure..

4: But you're not a potential investor you're a speculator. You get to feed off the crumbs brushed from the plate of their (investors/major players) large lunch. Be grateful that for a spread of 1 pip and a platform that costs nothing, you can be in the game. Want to invest? Learn how to position trade...

5: ........:|

6: I reckon all intellectually curious traders go through the *enjoyment* of playing around with many, many indicators before deciding on which arrows fit their quiver and personality...again it comes back to that minimum 300 days staring at charts I mentioned earlier...

7: hope so...;)
 
gnr2206 said:
Ive been trading for the last few months on a practise account from oanda.

Ive been profitable but i still dont feel like im properly trading. What i mean to say is that i dont really know how to forward test statagies. Like what should i be thinking about for tomorows day of trading. What news should i be looking out for that would affect lets say the EUR/GBP etc. I understand TA and fundamental; i am 17 and economics is one of my stronger subject. Also of topic but im average at maths; will this be a hiderance?

Any tips for a relative beginner? I dont wanna go live until i have a solid trading system.
Click to expand...

Good luck m8!

I wish I knew about the markets when I was 17!.. I wouldve jumped in to a Fund Management job somewhere.

My colleague found a trainee job in HSBC for the asset management 10 years ago... now he's a pro and earns the big bucks. Try and find a job like that? As long as you have the right attitude etc you will find a place.
 
@Black Swan:

Thank you for the insightful post; much appriecated. I would also like to outline that im not in this for the "quick buck". I rather enjoy economics; what moves the market. I enjoy reading the FT when every i can; i buy the Sunday Times and read the business section thouroghly. I will admit the i do fancy the idea of making some money from this; but hey; im only human :) ha

Can anyone inform me on how i can get live data feeds for forex because i feel this will be important to trade. I have 500 euro to start trading with.
 
I'm on the same boat. I openned an game account in OANDA fxGame and just started to get comfortable with the program. I don't understand much of it, but I guess I'll get used with time, what I really wanna know is how do people make analysis.

I have been looking at the candlestick (I heard this was the most important graphic) but still don't have a clue about when is the precise moment to buy or to sell. Would other graphics help me out? Or where can I get information about how to make such analysis?

Thanks a lot!
 
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