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I salute you all...

Discussion in 'Hello and Welcome' started by integrity101, Jun 13, 2012.

  1. integrity101

    integrity101 Recruit

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    Hi people, I'll be downright honest here. The only thing I know about forex is that you can either lose money, seriously, or earn a stable income trading the right way. I am really interested in earning that stable income by learning everything about trading. So can someone here please show me the right place to start and the right path to take. I'm trying to avoid information overload by soaking up all the forex stuff Googles spews out every time I search: "free forex trading lessons". Thanks in advance for your valuable advice :)
     
  2. antonisk

    antonisk Private, 1st Class

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    Forex Military School can be found here
    This is very useful but you do need to have the patience to read all the material and understand the concepts. As i do try to gain as much as possible within the FPA community its the first place i visited.
     
  3. RahmanSL

    RahmanSL Major

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    Hello integrity101, and a warm welcome to the FPA site....and, of course, the world of forex trading.

    The forex world is fascinating and intriguing with huge potential to make plenty of money. But, before you plunge into real live account with real money, do take the time to read up on the subject and then to sign up for a free Demo practice account.

    Yes, agreed that information available on forex subject in the world wide web is daunting & downright confusing.
    But, lucky you, to get started there is a complete forex school right here at the FPA dedicated to educating Newbies such as yourself.

    Go to top of this page....select "Education & Forums".....click on "Hot! Complete Forex Course" and you will have plenty of useful & essential material to read & learn. Also check out the other subjects such as "Forex Education", "Shoulders of Giants", etc.

    The key to being a successful forex trader is patience. Learn at your own pace, and go on live account when you are comfortable after practicing on Demo account for some time.
    Remember that nobody can tell you how to trade as, ultimately, it is entirely up to you to find which trading system you are most comfortable with.
    Someone told me this when I first started out some 3-1/2years ago, and I know it is very true since one trader is successful trading a particular system, but another trader might not be so successful using that system.
    In a nutshell, you will have to find your comfort zone where trading the forex does not become a chore, a challenge, and stressing you out.

    Yup! I have seen some traders here at the FPA who seems to have lost all sense of humor and tends to believe that they have to be like some grouchy bankers in order to trade successful in forex.

    Have a wonderful and enjoyable forex journey which all of us traders have to take!...and good luck!
     
  4. WaveRider

    WaveRider Sergeant

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    Hi and welcome. I recommend watching 50 or so of Sive's videos and try to decompile wht his method is. How can you guess at market direction for the day? Or the week? If it went that way what would be the target? If it didn't, where should your stop be? There are some terms he uses in the videos that are explained in the FPA school. Honestly, only about 1,500 watch any of Sive's videos and I can't understand why. When do you get to do morning analysis with a pro banker and trader for years? People still are looking to get an EA or find the perfect moving average combination. Wow.

    Hi Rahman. Hope you're doing well.
     
  5. WaveRider

    WaveRider Sergeant

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    BTW I like your handle..integrity101
     
  6. RahmanSL

    RahmanSL Major

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    Hello WaveRider....things are going quite okay for me...as usual, busy with my project works, etc, and trading forex when I have some free time.....hope the same goes for you too!


    Yes, following Sive's daily/weekly/monthly analyst on the EUR/USD is great...but I don't day trade much these days as its simply too stressful and has, instead, chosen a very much less stress trading strategy...in fact, that strategy is rather boring, but important thing is I am making money : ) ....maybe after another two to three months of successful trading, I might post my "lazy" trading strategy here at the FPA.

    My adopted trading strategy has a lot to do with what someone here at the FPA had posted: "Why are we happy with that 6.5% per annum interest paid by banks for our fixed deposit, but yet we are not satisfied with daily 0.1% profits (equaling 36.5% per annum) on our trading account???"

    And really, is it that difficult to get daily 0.1% profits trading the forex??? Heck NO! In fact even a 1% daily profits would be a no brainer....and that's 365% in one year of trading!
    Think about that!

    Alright, all the best and be safe!
     
  7. ReignMan

    ReignMan Private, 1st Class

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    Integrity,

    Welcome to the FPA! I'm happy to see you here because when I first started with FOREX, I fell for every rip off known to man, and then I found FPA. If you have any questions, these guys will go out of their way to help you. I've been dealing with Forex off and on for about 2 years, and now I'm trying to make it into a profession. So, in all honestly I'm just like you. My advice would be to stay away from the "Gold Mine" techniques that you have to pay for, the only way to gain a sure understanding of things is to practice. I'm still using a demo account myself. I want to step out with the real capital, but I'm not touching it until I have an 80% winning trade record. Until then, I try things out that work for me, in hopes that my confidence will go up when making that first step again.

    The first time I got into the market, I had a horrible broker, and I was running nothing but EA's, so when I had my first margin call, I had no idea what it was, and I was more so upset at how $500.00 vanished in 2 days as if I had hired David Copperfield to manage my account.

    The point is, do your research, and practice until you feel comfortable. Try to get to the point where "luck" is no longer a factor in your trading, but when being able to predict the trends becomes second nature to you. That's when you start making real money.

    To your success,

    Reign:cool:
     

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