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New To Forex

Discussion in 'Beginners Bootcamp' started by RedAceAZ, Jan 22, 2010.

  1. RedAceAZ

    RedAceAZ Recruit

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    Being a "newbie" to the forex market has led me down many paths as to who really possesses the Golden Goose of Forex trading. My conclusion?
    NO ONE!

    I've tried numerous sysytems, EAs, Signal Alerts, etc., all to my dismay... :hissyfit:

    I honestly believe that trading the forex is like walking through a Mine Field, if you don't have the layout of the mines, you're doomed!

    Beyond setting up a good charting package, and keeping abreast of the news, is there anything I'm missing???

    Care to lend an opinion/hand...???

    RedAceAZ :)
     
  2. cowmadagan

    cowmadagan Sergeant

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    What you need to know first is can you even collect your profits from your broker if you do trade profitably,

    The second is that you have to be able to stay in the game by being able to guess incorrectly more times without going broke. Read this as well as this and check Pharaoh's posts that have general topics.
     
  3. witsnpips

    witsnpips Recruit

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    how can you say you're a newbie if you've tested multiple systems and eas.
     
  4. Eric Alyea

    Eric Alyea Master Sergeant

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    Newbie is as Newbie does

    If your not making the 10-15% profit per mo/qtr/yr, and don’t have a designated desk/office space to do trading, same time, same pair, "EVERYDAY"... you’re a Newbie. I know after 2 years I’m just now going to real trading (maybe soon, still testing).
     
    #4 Eric Alyea, Jan 27, 2010
    Last edited: Jan 27, 2010
  5. cowmadagan

    cowmadagan Sergeant

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    I totally agree with Eric.
    Putting a line in the water doesn't make you a fisherman.
     
  6. Pharaoh

    Pharaoh Colonel

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    A line in the water? I thought we used grenades to fish??? :p

    There are different levels of newbie-ness.

    Clueless newbie: "Wow, I'm going to get rick quick! By the way, what's a pip?"

    Clueful newbie: "I've tried a lot of things. Is there anything out there that isn't a scam?"
     

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