Forex beginner

smeagold

LowGear wrote: »

Getting up @ 04:00 in the morning to catch some early entries is something I've been doing ever since I started and closing down the computer about 21:00, it makes it a long day.
Determination and motivation I have plenty of and once I can trade like the pro's as described in the book by Mark Douglas 'Trading in the Zone', then there's no stopping me.

Being spiked in then have the trade retrace happens to often.
:cool:

yeah my day extends from about 7 till 5 and maybe a bit in the eve if there's owt going on, not sure why there's any need to get up at 4am its not like london new york or europes open, the far east is yes, maybe useful if your trading yen pairs.

Trading in the zone? as in being in the zone, wired in and at one with the market type mumbo jumbo? never heard of him. The prob with book writers I find is that if they're not trading to make a living then why arn't they? usually cos they were rubbish so they resort to writing books

JC22

Sort of related

Help please. I'm looking to open a US Dollar cash account in the UK to accumulate occasional dribbles of money to later spend as vacation money when I visit the States.

Whilst the main clearing banks offer $US accounts they seem to want a monthly charge. CitiBank offer a free one, but its not that convenient. Does anyone know of any others?

JC22

LowGear

smeagold wrote: »

Trading in the zone? as in being in the zone, wired in and at one with the market type mumbo jumbo? never heard of him. The prob with book writers I find is that if they're not trading to make a living then why arn't they? usually cos they were rubbish so they resort to writing books

The book is about how to control your mindset, not to give any info about the trades.

Nearly everyone in the Live room who bought the book have found their trading a lot less stressfull.

Like today there have been many trades for the taking.
:cool:

smeagold

LowGear wrote: »

The book is about how to control your mindset, not to give any info about the trades.

Nearly everyone in the Live room who bought the book have found their trading a lot less stressfull.

Like today there have been many trades for the taking.
:cool:

Stress is part of the learning curve, its a natural response to a crtitical situation, if things are not going your way and your not stressed then somethings wrong, you should be stressed and cursing your self for making such a stupid trade and not reading the market properly. its how you learn.

LowGear

darkpool wrote: »

lowgear, do yourself a favour and forget about making money from trading.

That to me is a very negative approach especially after the amount of time I've spent studying.

Just like Smeagold & Purch, being persistent pays off in the end.
:cool:

LowGear

smeagold wrote: »

Ever thought of trading commodities? especially ones in bull markets?

Other than the Major Fx, I've traded some Indices and found that these are ok on daily or weekly trades (trending).

I've got a long way to go to reach your standards but, hopefully I'll get there.
:cool:

smeagold

LowGear wrote: »

Other than the Major Fx, I've traded some Indices and found that these are ok on daily or weekly trades (trending).

I've got a long way to go to reach your standards but, hopefully I'll get there.
:cool:

Try oil? $5 drop yesterday, short term algorithm driven momentum sell off on poor gdp data, occuring in a bull market.targetting $100 by summer ie BTFD

Pachira

There are a couple of trading events coming up that could be useful to attend as they look to have a good line up of speakers and topics covering everything from complete basics of trading forex to more advanced strategies:

London Investor Show Forex - if you book using the voucher code timetotrade you can get free entry ticket and free admission to one of the paid workshops for free (it usually costs £25 ticket and £25 workshop, so you save £50)


Traders Expo 2011 - this is free to attend, no voucher code required.

smeagold

Pachira wrote: »

There are a couple of trading events coming up that could be useful to attend as they look to have a good line up of speakers and topics covering everything from complete basics of trading forex to more advanced strategies:

London Investor Show Forex - if you book using the voucher code timetotrade you can get free entry ticket and free admission to one of the paid workshops for free (it usually costs £25 ticket and £25 workshop, so you save £50)


Traders Expo 2011 - this is free to attend, no voucher code required.

Waste of time, you don't learn by going to seminars and listening to a load of gobbldegook filing your head with a ton of stuff your meant to remember while trading. You learn by trading.

smeagold wrote: »

Try oil? $5 drop yesterday, short term algorithm driven momentum sell off on poor gdp data, occuring in a bull market.targetting $100 by summer ie BTFD

Anyone buy the oil dip(BTFD) at $86.2? I did, 3x positions $86.6 down to $86.2(scaled in) now trading at $87.61, with stops now set above original entry points(ie I can't lose money) already up over £300 but I'll hold a couple of these babies till the summer, it'll pay for the holiday:) Tradings easy just use your own head and don't rely on someone else's

(BTFD= Buy The F!!!!!!g Dip!)

Pachira

"Waste of time, you don't learn by going to seminars and listening to a load of gobbldegook filing your head with a ton of stuff your meant to remember while trading. You learn by trading."

Completely agree that you learn by trading, but for me personally I also find it very useful to attend seminars. Somethings just make more sense when someone is explaining it in person than when I'm muddling through a book. Indeed I went to an excellent seminar last night at the Traders and Investors Club and am certainly the wiser for it.

Plus there is much to be said about learning from the mistakes of others!