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Startup in Forex Trading Need Guidance

Discussion in 'Beginners Bootcamp' started by ewali, Sep 13, 2012.

  1. EL DIABLO

    EL DIABLO Recruit

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    I will add on another book here: 17 Proven Currency Trading Strategies: How to Profit in the Forex Market (Wiley Publishing) by Mario Singh, Director of Training and Education of FXPRIMUS who will be launching the book this month.
     
  2. Black Bird

    Black Bird Corporal

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    I take back what I said about Joel Kruger. He is not arrogant at all. He does not reply to twits as he does not want to interrupt the stream. He did answer all my emails and he is very nice and helpful but most of all he is a trader genius! Two days ago he recommended buying the Eur/Nzd around 1.5500. At this time of typing the price is 1.5902! He also said, some time ago, that buying Eur/Aud around 1.2200 can be very profitable but he stressed that this is a macro trade. The price right now is 1.2669! I did not take either of them though as I was scared of the carry trade; however, I've learnt something. The best I had was the Usd/Jpy. He advised to buy around 78.50 and aim for 84.20. I took this one but closed my trade @ 82.20. Price now is 84.52!

    I hope you find his videos, analysis, comments and twits helpful as well but please keep in mind his today's comment:

    "As far as short-term price action is concerned, it will be very hard to get me involved in the markets over the course of the next few weeks. I am never a fan of trading in thin and highly unpredictable market conditions, unless of course markets are screaming to take action."
     
  3. rubencouto

    rubencouto Recruit

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    Trading platforms wise MetaTrader4 has a very simple language (MQL4) to develope your own scripts (indicators, experts, ...). But I think MetaTrader5 (with language MQL5) is more flexible and scalable, although a bit harder to code!
     
  4. AuthenticFX

    AuthenticFX Recruit

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    Couple of extras (books) I like and recommend:

    Face the Trader Within, by Chris Lori
    Warrior Trading, by Clifford Bennett
    The Secret of Candlestick Charting, by Louise Bedford
    Encyclopedia of Chart Patterns (Wiley Trading) by Thomas N. Bulkowski

    cheers,

    Erron
     
  5. ukelelefx

    ukelelefx Recruit

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    It's already on the Amazon site. Too bad the 50% discount promo by the publisher just ended end of January.
     
  6. Black Bird

    Black Bird Corporal

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    You may like to add this book:"Trading for a Living by Dr Alexander Elder" to your Forex arsenal. There are a lot of useful things about individual and mass psychology together with all the technical analysis as Dr Elder, apart from a trader, he is also a psychiatrist. This is the best book I ever read on Forex. I recommend it especially to those who, just like myself before reading, may think that psychology is not that important in trading.

    I suggest you do a Google search before going to amazon as you may find the book a lot cheaper; I did anyway.

    Happy reading and learning.:p
     
  7. Triantus Shango

    Triantus Shango Sergeant Major

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  8. candle7779

    candle7779 Banned Affiliate Spammer for Accent Forex

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    This information on this site...Did I understand correctly?
     
  9. Triantus Shango

    Triantus Shango Sergeant Major

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    yes, you did. good luck. :)

     

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