Lost...?

[Alvaro207]

Hello everyone,

I got interested in Forex when I saw some infomercial. Since then I have started a demo account and to open a mini account to take advantage of a promotion. Even if my first real trade occurs a few months from now I simply want that account ready for me when I'm prepared.

That having been said, I have pretty much been practicing and reading. I have read the walk through at forex.com. I have also read some trading strategies within this forum. However, that's been the extent of my knowledge. I will take part in GAIN Capital's Learn to Trade Forex.

In all honestly I'm completely lost. I do not know up from down, that could be bad, anyhow? I really do not understand what's going on or where to go from here. I have learned a number of courses on the demo accounts, thankfully hard lessons are learned on the demonstration.

So basically I am just searching for some guie. At my current knowledge, which can be very very minimal, where do I go from here? I'm giving myself 1-2 months to examine and demo trade before I make this initial trade. It is very important to me that I'm 99.9% comfortable when I start getting into it to get'real'. However, I also don't wish to make it such the case that I'm taking forever upon eternally to really get into it to get'real'.

So basically this drawn out article comes down to the,
1. Where do I go from here?
2. Do you think 1-2 months is enough time to get abilities to be profitable in Forex?

[Oxni1957]

Hello everyone,

Well I have interested in Forex when I saw some infomercial. Ever since that time I have begun a demo account and soon to open a mini account to take advantage of a promotion. Even if my first actual transaction occurs a few months from today I simply want to have that account ready for me when I am prepared.

That being said, I have pretty much just been reading and practicing. I have read the walk at forex.com. I have read a few trading systems on this forum. But that's been the extent of my knowledge. Soon I will participate in GAIN Capital's Learn to Trade Forex.

In all honestly I am completely lost. I do not know up from down, which could be bad, anyhow? I truly do not understand what is currently going on or where to go from here. I have learned on the demo accounts, thankfully lessons have been learned on the demonstration.

So basically I am just searching for some guie. At my current knowledge, which can be very minimal, where do I go from here? I am giving myself 1-2 weeks to examine and demonstration commerce before I create that initial trade. It is very important to me that I am 99.9% comfortable when I start getting into it to get'real'. But I also don't wish to allow it to be such true that I am taking forever upon forever to truly get into it to get'real'.

So basically this drawn out article comes down to this,
1. Where do I go from here?
2. Can you believe 1-2 months is enough time to acquire skills to be profitable in Forex?
Hi,

I cant really suggest you concerning demo and times since I think Im one of the few which never traded demonstration (only 1 week) and obtained in life from beginning.

Based on my experience I needed to loose 50 percent of my actual cash to understand how to move.

Now after 6 weeks of trading my own account size is quite good for me, but if im'oriented' largely the times, sometimes Im really disoriented, as well as the market looks for me just a big jam..where no one knowns what to do and we finish to head all in our own direction developing a huge caos.

Just play with it real (micro lots)

I dont believe I would have learned as I did today if I used demo account before today.

Regarding where to go out I agree with Renasdad.

Begin to use few indiors, for oriented.
Each indior is good, as much as you possibly get oriented using them.

[Alvaro207]

Thank You for the Responses. Espically the links renasdad. I guess with the whole if to go will only come down to a judgement call. Maybe ill be dead cash, perhaps I won't. Either way I am willing to accept my end result.

Thanks again, I appreciate it, I look forward to being a part of this community and I will give back more than I consider.

[Bio318]

Thank You for the Responses. Espically the hyperlinks. I suppose with the whole when to go live will just come down to a judgement call. Maybe ill be dead cash, perhaps I won't. Either way I am ready to accept my result.

Thanks again, I love it, I look forward to being part of the community and hopefully I shall give back more than I take.
Just keep moving forward. Like Trucco stated, some folks don't demo trade in any way. I have been into Foreign Exchange for approximately 3 yrs now and I am back into demoing back again. There is not any sense to exchange live if you can't create any pips. Is your emotion. And if you say you won't get emotional, you are mistaken. You will, trust me. That is an area that a individual must read about and know themselves to comprehend how to not get emotional but for the time being, those links can help in your understanding a bit more. Glad to help.

[Oxni1957]

Just keep moving ahead. Like Trucco some folks don't demo trade. I have been into forex for about 3 yrs now and I am back to demoing. There's no sense to trade live if you can't create any pips. Is the emotion. And if you say you won't get emotional, you're wrong. You will, trust me. That is a place that a person needs to read about and understand to understand how not to get emotional but for the time being, these links will help in your understanding a bit more. Glad to help. I agree with you again
If you trade real, your emotions trade with youpersonally, and for persons like me this is a necessary path to understand how to trade (or at least try it ), because I think Im an impatient person and'm not able to understand if what im doing isn't touching me so I needed to see my money flying off to enter the game.

[Alvaro207]

Trucco, that is how a feel like I am not into it all too much at this time. I really want to get to it, but to me it really is all fake now. Granted I've invest my time to, I have to spend my money. I am able to practice and practice but I suspect there'll be major gaps in my personal trading style involving the live and demo. My efforts right now will allow me to in the proable region and that will carry over for the most part.

It just really doesn't seem real at this time, and that's really bugging me.

Perhaps I found my way back to the road up the mountain ^^;

[Bio318]

When I started, I was demoing and I would make a trade and not care if I lost or not make it fake. When I won, it was cool. There were not any emotions in any way. I did find out alot though since I sat in the front of the pc for 10-12 hrs sometimes watching charts. Then the day came I decided I was ready to start a live account shortly. And that is if realiity hit me. I need to make some pips to make money. I made myself look in my demo account as though it was . I felt that the feelings even. I thought to myself man that is great, a trade like that with real money. I would get excited and nice. I body would get all hot and I could feel the adrenaline. Simply by telling myself it is real and this is the way I'll do if it is. That helped a lot.

It's like in basketball in school. My coach taught us to close our eyes and picture shooting freethrows. Imagine throwing the ball up there and following through and watching the ball go at the basket. If I set my mind to it, it helped. Perception is awesome.

[recre_90]

I can practice and exercise all that I need, but I suspect there will be major differences in my trading style between the live and demo.
The notion of practicing will be to locate a method which works for you BEFORE you go live.
There should be no DIFFERENCE between your presentation method and your live method.
Once you know you can trade profitably on a presentation for a month or two, you'll know that when you put a live trade exactly what your risk is going to be and you'll live happily with that loss, since you know that there will be winners to offset that bad transaction.
Although you may believe that'if I'd been live I might have banked those 150 pips' only return over the charts, and you'll see lots of these bigs moves have happened before, and will occur again.
But using a demo, you'll have practiced putting onto these great trades, and plan to run together.
Peter

[turuxxserraoxrc87]

Pick a currency to start trading the most popular is eur/usd. The gbp/usd moves a little faster with pips in a day. Then study it on how it moves for instance currencies start their big moves around 2am till 12 noon eastern time. See the patterns and listen to this news events which forum has a news calender.

[Alvaro207]

I wish to thank everybody for their replies. I really appreciate you spending some of your time helping little oh me. I've come away from this post with valuable information and a different outlook on my future in FX. And so for that I thank you.

[recre_90]

I wish to thank everyone for their replies. I appreciate you spending your own time helping small oh me. I have come away from this post with valuable information and a different perspective on my future in Currency Market. And for that I thank you. Nathan
All those that replied don't want you to make the same mistakes that people made. If I'd discovered this Forum six months ago, I may even be sitting on a account.
Take time to decide what sort of trader that you want to be, read lots about the mental side and money management, demo a method that feels right for you till it is making money regularly. And then go live. You'll last longer and funds protection is the name of the game.
I have just started reading'Trading in the Zone' (Mark Douglas) and though I am only on Page 27 the lights are starting to come on, who knows how great I'll be once I have completed it.
Good luck and stay in contact with us, we want to understand how you are doing.
Peter

[niko]

nathan....

Always trade with the dominant trend, use more time frames, and learn how to spot the ranges and support and resistance of those ranges and tendencies, anticipate to have the market retrace from the entrance point until it reaches your take profit.
Here's a link that I hope you'll discover benificial....
Http://www.trading-naked.com/library/triple_screen_trading_system.pdf

no matter what egy you choose use this to help determine the market sentiment, excellent luck and may the pips be together with you.

Also bear in mind this is most likely the best forum on the net, the people here are helpful and also the info in this site is abundant.

[Copipk333]

If you are not going to exchange naked (no more indiors) then your main advantage will be understand how to plan. If you start with a language it is easy to move around to mt4.

If you're working to look for a programmical exchange system that you wont allow it to not understand how to program.

[Pippas]

nathan....

Always trade with the dominant fashion, use longer time frames, and learn to identify the ranges and support and resistance of those ranges and tendencies, anticipate to get the market retrace from the entry point before it reaches your take profit.
Here's a link that I hope you'll discover benificial....
Http://www.trading-naked.com/library/triple_screen_trading_system.pdf

no matter what egy you choose use this to help determine the market sentiment, fantastic luck and may the pips be together with you.

Also bear in mind this is most likely the best forum on the internet, the people here are helpful and the info in this website is abundant. Outstanding PDF. . .thank you

[Pippas]

Get to know a presentation and exercise until you feel comfortible playing with it and exercise using a few of the systems which are discussed here in this forum.

Look in the successful sidus method system which is easy to learn and has indiors that are easy to establish. Practice with it and you'll feel more at ease. It's like driving a car or flying a plane. . .scared as hell initially then one day, you'll find that your driving subconsciously.

Practice, Practice and Practice. You will one day say to yourself, it is the right time to leap in with real money. Wait till your successful on your presentation 70-80percent of the time until you do.

Why are we favorable here? Since every single one people were in your shoes at one time or another. The forex currency is trading 2 trillion a day, 30 times larger than the combined U.S. Stock Market on daily basis and we are not competiting with each other. . .so why not help each other.

Get to learn this forum and you'll find several years of knowledge and expertise that's discussed here. I think the only thing you will find us disagree upon here is which brokerage company is your best... or worst... and also we do not have a definitive answer for you.

Happy Trading
(Large Dog)

[xw24]

Tick (Big Dog ) comments above is a fantastic statement; get to know the folks around this forum, STAY around, don't be afraid to ask questions, because I was, and this forum can be one of the best things you've ever done concerning your success, or failure, in Forex.

For me, it helps to just recall why I started Forex trading at the first place. Without a WHY what would be a reason for you? Money isn't enough of a factor to push you. There has to be a reason. Well, at least that's been a bonus for me. For me, it is simply the fact that, my family deserves.

We wish you success...

[barbaragg1609]

I think you get started trading live get in ahead of the market crashes and you don't get a share of their $2 trillion daily - only kidding!


But from the sound of your first post, that is precisely what you're saying. The traders that I encountered who funded their accounts'only the take advantage of the current exchange rate' and'won't begin trading nevertheless', will be the very same people who withdrew their accounts due to a deficiency of demo trading.

Don't put yourself under unecessary pressure, just think about funding/opening your live account when you are comfortable with the platform and broker of your choice. The market won't become saturated, relax, read, learn, practice and if you are able double your demo account at least three times in series (starting $100 and 0.1 lots) then consider going live.

For me this forum is a irreplacable tool within my own trading success.

[Karim6191]

Well to me, Demo trading isn't real enough, eliminate the anxiety and greed elements and the Demo account just sky rockets, go back to actual $$'s and the exact opposite, so I've been learning ( nearly two years ) off and on when I could manage using a $1 a point mini account.

Finally starting to get somewhere, account is up abit, and 100 transactions since I last needed to add $$$'s, in comparison to errr 17 transactions for my #100 in the first days.

Good luck!!! Tis a challenging game and therefore don't beat yourself up too bad as it all goes wrong, and start Small $500 mini account, and then restrict to add to it, as it goes

[Alvaro207]

I wish to thank. Just to provide a little update, I am not missing anymore... Well not entirely. I sort of know where I am going and I believe I am on the yellow brick road ^^;

I look forward to chating with you in the years to come (hopefully).

[xXpATmXx]

Buy Trading in the Zone.

You will thank me for it.

[Alvaro207]

Buy Trading in the Zone by Mark Douglas.

You'll thank me for this. Thanks... I have it ^^;

[Sarioli]

Thank you... I have it ^^; I don't know why folks keep praising this book. I found Van K. Tharps Trade Your Way to Financial Freedom segment on plogy more compact and helping than a complete book bla bla about exactly what a looser you are.