Beginners - Kill your emotions
forex_trader_379006
Member Since Nov 24, 2016
14 posts
Mar 02, 2017 at 07:14
mlawson71 posted:BaldoN posted:
Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)
True, some things one can only learn on their own, but still, it’s good to also learn from other people who have gone down the same path.
That, my friend, is called wisdom. As a matter of course, the trader lives his experience, which is what he has done with the experience. But from the bad, from the REALLY WRONG you can learn from another :)
This is less complicated ...
It is better to study the trajectory of different traders and learn from them what we should not do than to learn it on our own with our own money.
Member Since Dec 11, 2015
1487 posts
Mar 04, 2017 at 10:16
mario123 posted:mlawson71 posted:BaldoN posted:
Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)
True, some things one can only learn on their own, but still, it’s good to also learn from other people who have gone down the same path.
That, my friend, is called wisdom. As a matter of course, the trader lives his experience, which is what he has done with the experience. But from the bad, from the REALLY WRONG you can learn from another :)
This is less complicated ...
It is better to study the trajectory of different traders and learn from them what we should not do than to learn it on our own with our own money.
I call it other people’s knowledge, but the point is the same.
Mar 08, 2017 at 07:21
mario123 posted:mlawson71 posted:BaldoN posted:
Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)
True, some things one can only learn on their own, but still, it’s good to also learn from other people who have gone down the same path.
That, my friend, is called wisdom. As a matter of course, the trader lives his experience, which is what he has done with the experience. But from the bad, from the REALLY WRONG you can learn from another :)
This is less complicated ...
It is better to study the trajectory of different traders and learn from them what we should not do than to learn it on our own with our own money.
But how do you know that what others say is really true? … of course you have to search for the proof. Agree that you have to be open minded, but not to believe in everything you read. Caution and research will help you here 😄
Accept the loss as experience
Mar 08, 2017 at 10:39
Hello,
It should not be 100% following as a blind of course:)
Everybody can think and judge whether something said is true or not, but still may worth to spare few moments and to get whether this will somehow works or fit to you or not
Cheers :)
It should not be 100% following as a blind of course:)
Everybody can think and judge whether something said is true or not, but still may worth to spare few moments and to get whether this will somehow works or fit to you or not
Cheers :)
Member Since Sep 12, 2015
1948 posts
Mar 08, 2017 at 11:44
TiffanyK posted:mario123 posted:mlawson71 posted:BaldoN posted:
Hello,
Whatever we says, I believe each new trader needs to pass on his own way and to get some experience. Just advises and tips will not help him too much or not much as a guidelines :)
True, some things one can only learn on their own, but still, it’s good to also learn from other people who have gone down the same path.
That, my friend, is called wisdom. As a matter of course, the trader lives his experience, which is what he has done with the experience. But from the bad, from the REALLY WRONG you can learn from another :)
This is less complicated ...
It is better to study the trajectory of different traders and learn from them what we should not do than to learn it on our own with our own money.
But how do you know that what others say is really true? … of course you have to search for the proof. Agree that you have to be open minded, but not to believe in everything you read. Caution and research will help you here 😄
I did a lot of research when I first started ,if you can afford it get professional training.
"They mistook leverage with genius".
Mar 08, 2017 at 11:59
TiffanyK posted:
But how do you know that what others say is really true? … of course you have to search for the proof. Agree that you have to be open minded, but not to believe in everything you read. Caution and research will help you here 😄
Very true. What I say may not have worked for me, but maybe you could pull it off with success.
I actually tried that... went through a bunch of online trading tutorials and followed what they said I should do and should not do, it didn't go well. I decided to try trading with an opposite view... let me see how it goes if I go against what they say (not using stops, not sticking to 2%, etc.) and I achieved my first profitable withdrawal. As time has gone by I have tried different approaches, some successfully, others utter disaster, and so you learn what works for you as an individual.
My advice: Bend the rules, make your own and see what works and what doesn't, follow advice and then try going against it. The learning curve is drastically reduced this way over trying to make advice work, not all traders think the same or handle situations the same, they all will remember a piece of advice that is valid for all traders, but only through their own experience.
For every loss there should be at least an equal and opposite profit.
Member Since Sep 12, 2015
1948 posts
Mar 08, 2017 at 12:08
The best training I got was sitting beside professional traders watching them do live trades, that's when you see if something works or not ,for any online courses you need to see proven results or proof that your provider is ex bank/intuitional trader.
"They mistook leverage with genius".
Mar 09, 2017 at 07:19
I agree. Those online courses are so “dry”. They only help you to understand any terminology or to explain a feature. With few exceptions – no online course can actually teach you how to trade or develop a good strategy (not accept an already fixed one). So yes – watching, following professional traders can be the best example.
Accept the loss as experience
Mar 09, 2017 at 10:16
TiffanyK posted:
I agree. Those online courses are so “dry”. They only help you to understand any terminology or to explain a feature. With few exceptions – no online course can actually teach you how to trade or develop a good strategy (not accept an already fixed one). So yes – watching, following professional traders can be the best example.
Hello,
I could also add: 'Not just to watch, but to 'steal' with eyes the way they trade', because I believe they will not share all their findings and knowledge's' :)
Member Since Feb 22, 2011
4862 posts
Mar 09, 2017 at 10:18
TiffanyK posted:
I agree. Those online courses are so “dry”. They only help you to understand any terminology or to explain a feature. With few exceptions – no online course can actually teach you how to trade or develop a good strategy (not accept an already fixed one). So yes – watching, following professional traders can be the best example.
There is nothing like free lunch. So free courses wont teach you enough to trade. Paid courses make money for the seller and eventually MIGHT learn you something.
Member Since Sep 12, 2015
1948 posts
Mar 09, 2017 at 13:10
BaldoN posted:TiffanyK posted:
I agree. Those online courses are so “dry”. They only help you to understand any terminology or to explain a feature. With few exceptions – no online course can actually teach you how to trade or develop a good strategy (not accept an already fixed one). So yes – watching, following professional traders can be the best example.
Hello,
I could also add: 'Not just to watch, but to 'steal' with eyes the way they trade', because I believe they will not share all their findings and knowledge's' :)
Something else ,when you do get good training you have to look at thousands of charts until it becomes almost instinctual ,like David Beckham curving a ball into the net, I bet he cant explain it in words,just hours of practice and perfecting.
"They mistook leverage with genius".
Member Since Dec 11, 2015
1487 posts
Mar 14, 2017 at 11:29
I agree. The best way - the only way, if you ask me - to learn Forex (as well as anything else, really) is to watch the professionals do it, try to imititate them to the best of your ability and practice, practice, practice. The more you practice, the easier it will become.
Member Since Oct 08, 2015
35 posts
Mar 15, 2017 at 07:24
BaldoN posted:TiffanyK posted:
I agree. Those online courses are so “dry”. They only help you to understand any terminology or to explain a feature. With few exceptions – no online course can actually teach you how to trade or develop a good strategy (not accept an already fixed one). So yes – watching, following professional traders can be the best example.
Hello,
I could also add: 'Not just to watch, but to 'steal' with eyes the way they trade', because I believe they will not share all their findings and knowledge's' :)
Yes, having a friend to show you some of the techniques live is definitely good option. I agree with vontogr about the free vs paid courses.
Trading is like football - if you don't practice you can't win the game!
Member Since Dec 11, 2015
1487 posts
Mar 17, 2017 at 11:52
When it comes to people selling me things like courses and EAs, I always wonder why they don't just use the knowledge they have or the robots they have to make a lot more money off Forex trading than they would off selling them.
Mar 19, 2017 at 08:35
mlawson71 posted:
When it comes to people selling me things like courses and EAs, I always wonder why they don't just use the knowledge they have or the robots they have to make a lot more money off Forex trading than they would off selling them.
If such a question rised about any product that probably means it's a SCAM. People believe that it will make easy money for them because they like it. That is why 'scam industry' is growing so rapidly.
2 cents from experience..
Member Since Sep 12, 2015
1948 posts
Mar 20, 2017 at 01:25
I just watched a video on Youtube, someone trying to explain trend lines and support to students, totally wrong to teach new traders BS, hope his followers have deep pockets.
"They mistook leverage with genius".
Member Since Dec 11, 2015
1487 posts
Mar 20, 2017 at 12:44
snapdragon1970 posted:
I just watched a video on Youtube, someone trying to explain trend lines and support to students, totally wrong to teach new traders BS, hope his followers have deep pockets.
Did these students pay for it or was it a free tutorial? Either there's a problem with it - if it's paid, they're obviously paying for wrong information, if it's free, then it's just yet another example how the market is full of bad information and how difficult it is for newbies (and often experienced traders too) to be able to differentiate between the two.
Member Since Sep 12, 2015
1948 posts
Mar 20, 2017 at 13:19
mlawson71 posted:snapdragon1970 posted:
I just watched a video on Youtube, someone trying to explain trend lines and support to students, totally wrong to teach new traders BS, hope his followers have deep pockets.
Did these students pay for it or was it a free tutorial? Either there's a problem with it - if it's paid, they're obviously paying for wrong information, if it's free, then it's just yet another example how the market is full of bad information and how difficult it is for newbies (and often experienced traders too) to be able to differentiate between the two.
This was a paid webinar, there was 200 people attending, bad enough paying for this but actually using the info to trade with, its not difficult to find professional training if you do your research.
"They mistook leverage with genius".
forex_trader_29148
Member Since Feb 11, 2011
1916 posts
Mar 21, 2017 at 07:52
i killed my emotions long time ago 😇😇😇
Member Since Jun 17, 2014
1 posts
Mar 21, 2017 at 07:58
yep... I actually taught trading for a while and then stopped. I couldn't in all conscience teach people to put their emotions and money at risk to go into a field of endeavour that was specifically structured and engineered destroy their money and take it away from them.
I've worked with a mate who has published 4 books and 500 articles on Technical analysis and trading. We evaluated and discarded over 60 indicators and have written an EA that has taken 500 versions from the original copy. It took us 6 years and over 12000 hours to get it sorted out.
That is what it took to be successful in this game. It's a deadly serious zero sum game and EVERYTHING is done to confuse the retail trader and get him to do the wrong thing at the wrong time and them take his money from him.
It's working now just fine but... the skills required to be successful take years of figuring out and they arent learnt in a 2 day course.
Mike
I've worked with a mate who has published 4 books and 500 articles on Technical analysis and trading. We evaluated and discarded over 60 indicators and have written an EA that has taken 500 versions from the original copy. It took us 6 years and over 12000 hours to get it sorted out.
That is what it took to be successful in this game. It's a deadly serious zero sum game and EVERYTHING is done to confuse the retail trader and get him to do the wrong thing at the wrong time and them take his money from him.
It's working now just fine but... the skills required to be successful take years of figuring out and they arent learnt in a 2 day course.
Mike
