thread: How do I move forward?

Hi,

I've started a bunch of articles lately, when they're all in some way seeking to seek out the solution to this one; how do I proceed?

I'm 16 and have been trading and studying Forex off and on for approximately 2 decades. I am not a profitable trader.
Do not take me wrong, I didn't expect to have the ability to make a living trading Forex after 2 decades, but why not keep moving forward if I can?

So I ask you this. . What is the next step? Trading demo for 5 hours a day? Trading LIVE for 5 hours a day? Reading a bunch of books? Attending to webinars? Or even conferences?

So come on, pros. Impart some wisdom!

121186Hi,

Would love to urge you something that I have tried myself found quite helpfull in understanding the market plogy. Create an excel file and put eurusd emblem using large, low, bid, ask, preceding high non open and closure. Add a column which computes current price with respect to each one of the columns.

Look at this continuously changing of price for some days but concentrate only on a single column, for instance, concentrate dynamically changing high price difference column.

With this you will learn alot.

If you find any issue just pm me.

Kind regards

90908

Realistically, you prolly not gonna locate answeres from others. Spend some time studying chart. Imo, solution.

I don't think so, actually. I've found plenty tips in this thread, and I will attempt to place most of them. Without help from others trading could first be second, and dull, one would have to come across the road to success. With help from the others, you will probably be pointed over the way. Imo.

you ought to give the web platform a go, I think its way better than MT4.

Perhaps it is, but I keep considering MT4 since the most developed charting applications, although I could be wrong.
Additionally, most custom-made indiors are for MT4, so.

I would try to find a broker you are able to trade reside with, since you don't always have to be so up front with your era to start demo accounts, but to start a real account to exchange live is another story, since you may require proof and approval of some things.

Legitimate brokers have a minimum age requirement to start up your own account, and 16 years old will most likely not meet any broker's minimum.

I suggest getting a fantastic screen capture program (SnagIt or similar) so that when you enter a transaction, you are able to capture the display....that...

I actually already have a live account, although it's in my moms name. It is like 15 months before I turn 18, so it's only momentary.

I shall test getting a screen capture program, sounds like a good idea to find out what went wrong.

@ = Absolutely believe this information in bold above; constantly work in percentage! Can you think when you, or anybody, has a $100,000 account and loses $15,000, they say, well it is ONLY $15,000

Yes, I have realized this. The mind messes together and continue saying if you can't earn any money Why get into this transaction?
Hard to get away from.

Lots of great posting here.

First thing I would suggest is you understand how to program MT4 or MT5 and the best way to backtest. This will teach you comprehend the probabilities you are currently dealing with substantially better and to think in a systematic manner about trading.

I used to backtest on MT4, and it was really neat, but now I can't get it to work anymore When I use the LHV trading simulator 3, all charts say Waiting for upgrade.
I have just tried this on forexyard's mt4, but on 2 unique computers. Will try on another broker.


Again, thank you all for your inputs

Type of information is that - well in the event that you lose everything on your account its just a and your career is over. Realize its not about the money - . Could you pick yourself up and start again after having neglected.

I'm feeling below your request for assistance there is a fear that should be dealt with. Most likely its the anxiety of loosing.

Are you afraid of loosing? Is this your mother's money and if you loose it are you afraid she won't love you? What are her fantasies for this cash? What did she give up so that you can trade the Foreign Exchange market? If she would give you a $100 to learn how to trade with, what did you promise her? Deal with the emotional expectations first then return asking for suggestions to overcome an emotional hinderance.

My 2 cents worth

90908

Hi,

I have started a bunch of posts recently, when they are all in some way trying to find the answer to this one; how do I move forward?

I'm 16 and have been trading and analyzing Forex on and off for approximately two years. I am still not a profitable trader.
Do not take me wrong, I didn't expect to have the ability to make a living trading Forex after two years, but why not keep moving ahead if I can?

So I ask you this. . What's the next step? Trading demonstration for 5 hours a day? Trading LIVE for 5 hours a day? Reading a bunch of books? Attending to webinars? ...

whenever I see folks asking advice about how to triumph (i.e moving ahead ) in this company, it is seems as if you failed already.


Basically you're asking someone to hold your palms?? If it was a technical question question on several indior, like money management technique, which would have more stuff. I'd say this newbie is doing something.


I'd say quit being a pussy and find out and move forward. You'll lose money, but that is the learnin curve. You are only a statistic in the making if you want people to tell you not to give up and to learn this company.

90908

I will tell you as somebody who's going to finish a economics degree, it is completely useless for profiting from trading.

Understanding the fundamentals is very distracting, unless you're taking a fairly long term view. The fundamentals an unsophistied trader is working with are probably already priced in. Attempting to exchange with a prejudice has you slaughtered, in reality I wish I knew textbook economics and ignored the news, it would make for trading. This is a technical playground

The level is so we can find work and finance our trading capital..besides it's always someting helpful understanding economics..How can anybody believe that Mr.G.Soros ( the only famous trader for years ) make his money in forex using any of those Indior in MT4 (Moving Average,Fibonacci,MACD,etc). . So lots of people using it and 99 percent of these shed their money..Almost all retail trader using same Indior and nearly all losing Cash. . So almost all of them do not have any EDGE. .Should make you thinking why? . .Just my 2 cents. .

90908I see the mention of screen catch and that you are / were using MT4 - simply right click on the chart you would like to save, and follow the normal prompts for folder etc..

Also, the error about awaiting update usually brought on by using a template out of somewhere else on your charts - maybe your broker uses codes like EURUSDm?

Only drag drop the symbol from the list to refresh with the suitable format, works for me. If it does the template.

90908I view the mention of screen catch and you're / were using MT4 - just click the chart that you want to save, and follow the usual prompts for folder etc. then use Paint to do any edit, clean out account number etc..

In addition, the mistake about awaiting update usually brought on by using a template from somewhere else in your charts - maybe your broker uses codes such as EURUSDm?

Simply drag drop the symbol from the list to refresh with the suitable format, works for me. If it does the template.

90908

I see that the mention of screen capture and you're were using MT4 - just right click the chart that you want to save, and adhere to the usual prompts for folder etc. then use Paint to do some edit, clean out account number etc..

In addition, the error about waiting for update usually brought on by using a template from someplace else on your charts - maybe your broker utilizes codes such as EURUSDm?

Only drag drop the symbol from the list to refresh with the suitable format, works for me. If it does the template.

Thank you, saving charts were easier than I thought

Regarding the waiting for update issue, your input either did not work for me or I didnt know what you intended.

90908

I do not think so, actually. I've found plenty helpful tips in this thread, and I will try to put nearly all of them in action. Without assistance from others trading could first of all be dull, and second, one would need to find the path to success. With assistance from the others, you will be pointed over the ideal way. Imo.

It is entirely unto you about the notion of what to anticipate and what to pursue. However, the reality side of profitable trading... is so dull. Also, with assistance from the others, you will be pointed more into the incorrect way. Ask yourself whether majority of retail traders fail or succeed. Once you figure out the percentage, it must point your action to the direction that is logical. Whichever the choice should you make, I wish you luck on your journey.