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Some question and general thoughts

Discussion in 'Beginners Bootcamp' started by David Berenyi, May 18, 2017.

  1. David Berenyi

    David Berenyi Recruit

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    Hi Guys,

    Am still a newbie. Currently am studying the Education here on the website. Started to get acquainted with candle patterns, Fibonacci, moving averages etc and simultaneously reading The New Science of Technical Analysis from Thomas R. De Mark. Could someone suggest me some other books to read? I had some other from Andre Kostolanyi, which is more about stock market and people's behavior but pretty interesting thought and useful as well. Also could some of you share with me yours experience, when did you start to trade with real money? Currently I do not have my strategy done, I am practicing on demo account and trying to put it together. Then once I am able to do trading continuously with profit, I want to start with real money. Not sure, that first with bigger amount. I was thinking to start with few hundreds bucks, just to get used to it in my mind that I am trading with real money. Any suggestion or feedback from you guys who already have done this road? Also if by a mistake someone is from London and like to talk about trading, let me know and we can meet up sometime , the coffee is on me. Cheers guys and have a good weekend
     
    Molly141 likes this.
  2. FxMaster

    FxMaster Lt. Colonel

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    There are a few articles written by Pharaoh on some subjects you might find useful (broker selection, avoiding scams, etc.). You'll find most of them here:

    http://www.forexpeacearmy.com/community/forums/forex-basics-boot-camp-fx-articles-by-pharaoh.92/
     
  3. David Berenyi

    David Berenyi Recruit

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    Thanks for your response. I think I saw already some of Pharaoh's comment on the website. Seems like a guy who knows what he is talking about. I'll have a look for his articles. thanks again
     
  4. Pharaoh

    Pharaoh Colonel

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    Nah, Pharaoh's a total idiot who makes things up as fast as he types. :D
     
  5. David Berenyi

    David Berenyi Recruit

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    That's a talent as well, you should try to write a novel, then :D
     
  6. Ken Smith

    Ken Smith Private

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    Start live trading when you at least get a strategy to follow. Strategy includes when to take entry and exit, money management, and risk reward ratio. You have to define all these things. Make a checklists. Keep a journal where you will write everything about your order entry and exit. And don't start with big amount unless you make consistent profit for a year.
     
  7. nahiyar

    nahiyar Private, 1st Class

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    That is big point thinking able for live trading every trader is in great dream not realistic either he had right strategy for live trading or knows ups and downs of trading . If he checks his performance regularly on demo , see realistically his mistakes , victories and funds management ability then he can go ahead.
     
  8. kingsman

    kingsman Corporal

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    One general thinking about forex is that it an easy job for ever one. I do not think this is suitable business for those who had no patience , courage and intention for work hard. There is no get rich quick scheme in forex world.
     
  9. bigdolly

    bigdolly Sergeant Major

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    Don't buy into scammers tricks. Try to work out your personal trading approach which works only for you.Trading is more an art than business it features with some unique combination of knowledge and experience.
     
  10. nahiyar

    nahiyar Private, 1st Class

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    Yes traders need to avoid thinking forex an easy job that will make money for them. They have to develop thier own plan and trading way to face market what they think of suitable for profit taking. Forex will not give you reward as per risk you are taking .The main thing is to use this risk in realistic and effective manner. General thing that people want quick and without hard work a big turn from investment that is totally impossible.
     

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