Trade in Forex

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fxrobert

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Dear all,
I have just subscribed to this site and found it very informative and nicely done. I am new in trading FX so I think I can learn a lot from here. Does anyone have any suggestions about any materials regarding guide to FX trading or anywhere I can get free reports and market analysis or anything that I can download form the internet or any website?

regards,
 
fxrobert said:
Dear all,
I have just subscribed to this site and found it very informative and nicely done. I am new in trading FX so I think I can learn a lot from here. Does anyone have any suggestions about any materials regarding guide to FX trading or anywhere I can get free reports and market analysis or anything that I can download form the internet or any website?

regards,
Click to expand...

FXROBERT
Firstly, good luck to you ... you are going to need it.

DO read everything on this site pertaining to forex specifically plus all the general trading
threads.
DO believe that if trading forex seems hard, that is because it is ... especially in the begining.
DO read all you can from free sites on the web

DONT spend good money buying books.
DONT spend good money buying fancy software. Anyway you try to carve the chicken, all
you have in forex is HLC ( O being last periods C)

BE careful listening to Brokers. Their mission is somewhat different to yours.
BE careful with forex analysis. Mostly it ranges from unhelpful to just dead wrong
BE careful listening to any forex news. By the time you receive the news it is already
factored into the price.
BE careful of information overload.The quality of what you know will far outweigh
the quantity.

I could ramble on all day, but that should get you started.
 
I still think FXPlayer is a great site for learners. It is the nearest thing I have ever seen to a 'proper' trading platform
 
fxrobert said:
Dear all,
I have just subscribed to this site and found it very informative and nicely done. I am new in trading FX so I think I can learn a lot from here. Does anyone have any suggestions about any materials regarding guide to FX trading or anywhere I can get free reports and market analysis or anything that I can download form the internet or any website?

regards,
Click to expand...

Robert,

I am no old timer in the fx game, but if there is one piece of advice I recommend you follow that would be...

You can probably find 100's reason to trade every 5 minutes, and believe me your inner voice is doing it's best to pressure you to do so - but what will that trade be based on?
  • Are you having probability on your side - by knowing when you will enter and why?
    Make sure you manually go back and study what happened before in time, if you entered according to the same setup.
    No automatic back testing, since this will just numb your feelings for price action.
    Get a chart and make manual comments.
  • Indicators - why not!
    Just keep it simple by only using 1-3 indicators, which not are showing the same information. Or if you for instance use 2 momentum indicators make sure they measure different time spans.
    They will give you a reference point, so that will be of great ease in the beginning.
    I do not think it matters to much what indicator you chose, as long as you stick with it and get to know it 110%. How it acts according to the price action, so you will gradually be able to skip potential entries based on the indicator previously have show the outcome of that indicator/price combination is not favourable. But remember price is the final yes/no to a trade!
  • Money management - This is the most important area of trading-but actually sounds quite simple.
    :devilish: Until those little voices in your head start talking to you :devilish:
    Make a rule of setting a stop ASAP on the max amount you are happy offering to the trading gods, do not think you can control it because probability say: no way!
  • If you think it will go up - sell!
    If you think it will go down - buy!
    (Honestly for a lot of people this with strict MM would be an improvement :D

This is some information that will take you a very long way.
Just remember greed and indolence is to a certain extent part of every person.
So if people are willing to sell something, it most of the time is because it is not good enough to make them money.
Why would they sell a "money printing press"
And one last thing, turn of the news ,since this information will most likely kill you, by adding even more "what if's" to your trading.

That's all for now,

S.R.G.
 
HI,
thanks to everybody who bothered to answer me specially commanderco, SRG and Fabianov. I have also come across a website through a friend of mine, called safelimited. They have a trading signal forecast which is fortunately free. I have registered with them and from last Thursday I ahve managed to make a few hundred bucks using their signals. It is very good and it gives you the result of previous day trading signals. Well maybe it is worth you guys having look at it and let me know what you think. Maybe I was just lucky.
Thanks again. Cheers
 
Ha, it turned out that the guy/gal started this thread only to promote his/her own website in the end...
 
Mineral Water....
I am disappointed and of course heart broken.... I thought this is a professional forum ... I wasn't expecting someone judges me even without knowing me...... I am a newbie in FX and just started .. I am asking many people to help me out on learning the FX trading.. All I wanted to know was if any one knew this website and if they have used their signals before..I cannot afford to loose my savings. I even didn't know them and for your information Fabianov showed me a website called Moneytec and a friend of mine found a posting about them in the same website. Why don't you ask Fabiaon and others if they are promoting their own site. Be polite and stop accusing others....it seems to me you are a tap water not a pure mineral water
 
fxrobert said:
it seems to me you are a tap water not a pure mineral water
Click to expand...
The tap water in Riga is not so bad, you know. Not everyone is Rigas Balsams ...
 
Robert,

SAFE ltd - I had a look at it.
I have years of design in my history so I will not comment on their logo;-)
Anyway, I got their pdf today and it looks like their using a pivot point system.

The point to be aware of is that this is a "closed" system - and that is the point I do not like!

Why?

1. You get a sum of figures with instructions to Buy and Sell - that's it.
How are you supposed to really identify and teach yourself what is going on and make "neutral" assumptions based on what you see.

2. Either you trade or you do not trade - it would make more $ sense to pay someone to do it for you, so you could spend your time on something else, making even more money ;-)

3. If you are interested in trading, this sort of "service" will influence your own ability to analyse what just happened and most likely dull your mind.
If it would work, how motivated do you feel to spend 8-10 hrs a day reading, testing and watching the price action?
If you would loose some or all your money - they ask you to read the fine print and you be left with nothing. Thus gave your money away without gaining any experience of actual trading.
 
Robert

SRG is offering excellent advice.
Your prime objective is to learn. Once your reach a certain point on your learning curve you will also begin to make money, but never stop learning.

At the moment you are proposing to give your money to a stranger for nothing in return other than the eventual bitter lesson " Never give money to a Stranger"

Put money aside for a while and concentrate on your education.

Firstly, you need to decide what you are going to trade .... stocks, metals, forex, funds.
Are you going to trade the cash or the futures?

These are the questions you should be addressing first.
Ask these questions and people will offer opinions. From these opinions make your decision.
Then ask how best to trade the instrument of your choice..... people will offer opinions etc etc
There is an enormous pool of resource on this board .... work it to your advantage, then one day you will be in a position to help other people.

Not everyone who starts this journey will succeed as a Trader ... there is so much more to this game than just money, as you are about to find out.
 
Dear commanderco and dearest SRG
I must thank you so much for your great advise as I am geting more and more confused with flow of information and resources available on the net. Since my last post, I have found some other companies who provide forecast (I am not going to mention their names here again as I am worried of being accused of promoting someone else!) Anyway I do understand your points very well. But I have a few confusion and of course points to add. First of all I am not a full time trader so I do not have extra time to sit down and read and read many hours because I must do things myself. I wasn't aware of thess advisory or forecast services but as I said before since I started with those reports, I am constantly making money and when I was trading on my own analysis I was just loosing money. If your point is correct and everyone should have his own analysis so why fund managers and big companies are using these sort of mechanics for their trading.

I heard there are even robots that make signals and they execute trade themselves! For someone like me who wants to make money maybe it is an ideal solution (perhaps short term) until I become master. I am not going to say the name of that website again but what ever method they use they made me over a couple of thousand dollars in last 4 days. The money I was struggeling to make in 2 weeks (since I started trading).

thank you again
 
FxRobert,

1. If it floats your boat - Great, you are ahead of me, for the moment ;-) (my experimental day by day thread).
You decide what is best for you and your money, but by using somebody else's signals, what do you know for certain?

2. I am honest, please forgive me.
The difference between you and a fund manager (who himself has proven himself by some sort of a trackrecord, probably spent >5 years of his life reading and getting certified and know the why, what and when's of his trading system or the auto system) is that you do not know diddly squat about trading and he is licend to do so. If he is makeing money or not is something else. He knows the reasons behind every action.

3. You do not have a lot of time, but still would like to make money... Why do you think people have to spend 2-4 years at school in order to become something.

Trading is knowing/applying what you are doing so you at any time can give a reason why.
Gambling is simply hoping something will do well, but you are not really sure of what you are doing.

If this company/person gives such a good calls, why do you think he is charing it and needs to make money through subscriptions???

But once again, if it floats your boat...


2.
 
FxRobert

All SRG and I are offering is sufficent advice to get you past the first step

At the moment you are proposing to give your money to a stranger for nothing in return other than the eventual bitter lesson " Never give money to a Stranger"

Goodluck to you ....... I hope it works for you
 
commanderco said:
FxRobert

All SRG and I are offering is sufficient advice to get you past the first step

At the moment you are proposing to give your money to a stranger for nothing in return other than the eventual bitter lesson " Never give money to a Stranger"

Goodluck to you ....... I hope it works for you
Click to expand...


And you ask us why?

Because we have been there ourself and which someone gave us this advice!
After 5 years of thinking I was trading I got greedy and cocky and lost aprox 90k in 5 months!!!
 
Dear SRG,
I do understand your point very well. But the difference is that I am using GPS and you say you should try learning more on navigational skills and even don't use AtoZ. I know that I don't know much about trading but I know there are facilties you can use. So why do you rely on buying your milk from supermarket why don't you have your own cow etc... Well I can well become selfsufficent in due course (as you said in 5 years or more) .
and become a fund manager but the point is if someone else is doing the job for me and his result is good and it is even (free) who cares who it is or from website it is or if their logo is not in your taste. As yuo said a fund manager know what he is doing so if he gives me a tip should I say No thank you sir I want to do my own analysis (when I even don't know a diddly squat!)
If I get sick I ask a doctor to cure me. I don't go 5 years to medical school
 
Last edited:
FxRober,

I am starting to believe that you have some monetary interest in the above serice/s. Yepp I do!

Well, I have opend my hart with advice. That is all I can do, the rest is up to you.
 
Dear SRG,
I do understand your point very well. But the difference is that I am using GPS and you say you should try learning more on navigational skills and even don't use AtoZ. I know that I don't know much about trading but I know there are facilties you can use. So why do you rely on buying your milk from supermarket why don't you have your own cow etc... Well I can well become selfsufficent in due course (as you said in 5 years or more) .
and become a fund manager but the point is if someone else is doing the job for me and his result is good and it is even (free) who cares who it is or from website it is or if their logo is not in your taste. As yuo said a fund manager know what he is doing so if he gives me a tip should I say No thank you sir I want to do my own analysis (when I even don't know a diddly squat!)
If I get sick I ask a doctor to cure me. I don't go 5 years to medical school
 
well dear SRG.
You are free to believe what you want. In that case I think everybody here has some interest in something. Maybe you don't have monetary interest but you might be after fame! Who knows! I am sorry you feel that way as I thought you were a nice and caring person. Anyway I got some good advice from you too. I do not judge you the way you do. SO thank you for your advice . I will make sure to follow them as much as I can in my way of success. Thanks again
by the way if oneday I become a very successful trader and have my own analysis, I want you to know that I do not fear of putting it for other to follow in this website or any other websites. I don't need to trick anybody in order to give my analysis.
 
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