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Wanted: real trader

Discussion in 'Beginners Bootcamp' started by Ricex, Oct 12, 2009.

  1. Ricex

    Ricex Sergeant

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    Sorry, the title is some what tongue-in-cheek.

    This is however a genuine and honest search to find out how people here trade. This search is born out of the endless banter I find everywhere about "Expert Advisors" and this rather, lets be honest, pitiful quest for the best one.

    They are all the best! haven't you read the advert?

    Being British, and therefore genetically programmed to be cynical, I am wondering if there are newbies who want to make money without using these risky plug-and-play devices of dubious effectiveness.

    So please, lets have a discussion about trading, and try at the very least to open a few eyes and minds to the notion that 'getting rich quick' or more correctly 'getting rich without doing anything' is a modern charlatans slant on a very old con trick..... or am I being naive?

    robot.
     
  2. Lhar_fpa

    Lhar_fpa Private, 1st Class

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    Yes, I agree with you. If you wanted to get rich in this form of trade, determination is needed.:)
     
  3. Ricex

    Ricex Sergeant

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    ok, so how are you trading at the moment Lhar _fpa? what is your plan of attack?

    I'm not really interested in strategies, more how have you gone about becoming a forex trader?. You say that you need determination, and yes if your someone that normally falls at the first hurdle you won't last long in this line of work, but you also say 'rich'.

    Is your plan to get rich? (not a trick question, I'm not a judge just interested by peoples motivations)
     
  4. Lhar_fpa

    Lhar_fpa Private, 1st Class

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    I'm still on demo account, I said that to become rich, you need determination, it is because that is what most successful people have. Just like in forex trade.:p
     
  5. Amateur Traders Online

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    I feel ya!

    Hi guys,

    Saw the post and thought I would chip in if that’s cool. I completely agree with what you are saying I have been trading from home for a while and although there is a huge amount of info on the web, actually finding out what’s legit and what is Bull is a little tricky. Im just at the point in my trading career where I am starting to bank consistent pips but its taken F**king ages to get here. You just gotta keep plugging away, read and learn and watch as many vids, books, blogs and all that stuff as you can. The main point and I stand buy this is, I firmly believe anyone can learn how to do this, you do not need fancy equipment, system or a PhD in math’s in order to be consistently profitable but like any skill it takes time and practice. Hope this helps. Peace 
     
  6. ernest8fingers

    ernest8fingers Master Sergeant

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    What I have learned

    After years of Forex trading I have learned to keep EVERYTHING simple. As the beginning of April(09) anyone using a DailyTimeFrame can see the Eur/Usd has been on an uptrend. all I do is wait for a dip-loosely follow the Dow(if it is UP I go Long) if not-I wait till it is up before going long. Today (actually before,during the London session today) all fell in place and I went Long Eur/Usd. Gained some pips(about 30) and got out for the day. This was a "duck" trade. Eur/USd has not had a MAJOR retracement and this (IMHO) says we are going higher-maybe a true retest of 1.60 area in near future. USA economy and dollar value are both falling. After the recent printing of Katrillions of Dollars for all those bailouts-Inflation cannot be far off(a further weakening of US Dollar globally) me thinks. ALL good reasons to BUY Eur/USD for the longer haul.:p
     
  7. bevh

    bevh Recruit

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    Real Trader

    Hi there,
    I am hopelessly lost trying to find a decent broker,
    This question I am directing to earnest8fingers, have you got a good one - that will take Canadians ? You sound like you have done enough trading , and you actually made $$, who is your broker ?
    My husband and I Know one can make some oney with this - just to find a decent broker , and learn, learn , learn....
    Thanks,
    bevh
     
  8. Amateur Traders Online

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    Hi Guys,

    I'm on skype during the London session so if your sat around drop us a msg. More than up for having a chat a creating a few trade plans. Peace!

    Skype name is: amateurtradersonline
     
  9. Ricex

    Ricex Sergeant

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    Right, so your still on demo Lhar that's cool, you sound very determined to succeed and that's certainly a great asset for an fx student. If you can channel that determination into becoming consistent, you will have a winning combination.

    Hi AmateurTradersOnline chip right on in sir, though I'll probably call you ATO from here on in, is that a website btw?

    I totally agree that this forex trading lark is within the reach of most people. Lots of bits of paper saying how clever you are are nice to show your auntie, they may even grant you a better analysis of the markets themselves at a certain level, but trading requires other qualities of spirit that don't usually come with a diploma. Abilities in being able to change ones mode of thinking from the normal fear and greed responses to confidence and discipline are key.
    Nice to hear your getting it all together ATO.

    Hi Ernest, your experience shouting from the mountain top the virtues of simplicity makes me want to go grab my megaphone and join him!

    Keep it simple folks. I suffered early on with indicatitus and it left me with macD scarred retinas and now I have bollinger band complications.

    Good tactic Ernest, indices playing a major role at the moment with earnings season kicking off, all across the board rocketing up and as you rightly point out this sends the dollar down, down........down.

    NB: I thought later that I had better make it clear that the DOW/DOLLAR correlation is not a permanent thing, it fluctuates as do a lot of corellations, at the beginning of the year for example this was not the case.
     
    #9 Ricex, Oct 14, 2009
    Last edited: Oct 15, 2009
  10. Music Man

    Music Man Corporal

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    >>finding a decent broker for Canadians...

    Have you tried BaronFX.com? They seem like a pretty decent broker -- you can hedge, they don't seem to penalize robots and their spread "tax" is fixed.

    MM
     

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