old trader but new learner
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Thread: old trader but new learner

  1. #1
    Hello to really one in Currency Market factory. What a useful place?

    Because 2004. I have dropped about #8000 pounds so far. I'd say I started even without understanding what's really Currency Market trading.



    I have started to learn now it's too late but I'm still happy because now I feel I'm on right course.



    There was no any system which I adopted when I watched see red candles heading down I purchased and when I saw green candles heading up I marketed.



    Can any one take some time and help me to learn how I could make a system?



    Or any one can advise the right way to understand Currency Market. English isn't my first language so please ignore my mistakes.





    regards

  2. #2
    Hello

    I posted something the other day which you might discover useful

    https://www.forexsoutheast.asia/fore...ity-trade.html

    From the sounds of things you have started in the middle rather than the start.

    The very first thing which you'll need to do in order to achieve success in forex is read and find some instruction about trading. The best investment you could ever make is in novels. I would recommend Trading in the Zone by Mark Douglas, Trend Trading by Daryl Guppy, loe a simple book on candle sticks.

    The egy I would look to develop would be along a multi-time framework egy, starting with a week chart, then per day chart down to a 4 hour, 1 hour and 15 minute chart.

    Find something that's easy to recognize, for instance, the GMMA mentioned in Trend Trading by Daryl Guppy, or MACD Divergence mentioned in Alexander Elders Trading for a living, or even contracting bollinger bands egy. These all work for a means to make money from the forex either independantly or as a mix.

    You will need to develop a trading program and a list of rules. This list of rules must pay for a egy to of when to get into a trade, what chart this is based on, exit egy. These should be consistant with your mental condition and that which you are confortable with. What this means is if you aren't comfortable with a 70 point cease then it shouldn't be a part of your rules, if you aren't comfortable with 30% of your funds going in 3 loosing trades in a row then your rules must reflect this, in case your not able to exchange during the London session then your rules must reflect this.

    You should avoid the believing that you're missing out on a trade and this will lead to a gaming attitude. If you think about it as a business then you'll go quite a distance and the actual trades themselves in army conditions or martial arts conditions, your confidence increases considerably. I myself believe in the same conditions as a Sniper with a high powered rifle. I sit on the sidelines with my trading egy waiting for the ideal chance to take my target (ie profits) with the highest likelyhood of success.

    These are things that only you may know and develop, and with much more learning and understanding you'll be on the road. Read my latest post as this should help you out further.

    Just keep in mind that a public library investment and trading segment is your friend when you start to know trading! Hahaha

    All the very best

    Bear

  3. #3
    Bear73, eastmaels, habeeb,

    Dear Friends,

    Many thanks to all of you for providing me useful suggestions, I'm likely to
    look in to one by one. Many thanks for taking the time to show me right
    driection.

    To, eastmaels
    What a useful Loion?
    It was a typing mistake. There is not any doubt forex fectory is the best place for forex traders to understand.

    Once more many thanks to all of you.
    regards

  4. #4
    8000 punds isn't great money I believe so in a couple of decades of trading.


    Keep learning and posting here, it is really usefull Loion

  5. #5
    Quote Originally Posted by ;
    Hello to very one in forexsoutheast.asia. What a helpful loion?
    Since 2004. I've lost about #8000 pounds so far. I would say I started without knowing what is really forex trading.
    Just 8000 pounds and it took you so long???


    You're at the right place. Begin by reading through all the sticky sections here in the Beginners Forum. There are many books that's recommended to give you a better understanding of the markets.

    There are lots of threads about various systems (just search for the ones with the most views), which are discussed quite extensively. My favourite though is this one https://www.forexsoutheast.asia/fore...-220-99-a.html

    Additionally, stop trading with real money and begin with a demo account, before you become profitable, and keep making profits for a couple of months.

    Require Care
    Habeeb

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