Quote:
Originally Posted by Johnny
Hey guys,
I have been playing around with stocks the last year and have learned a lot.
However, I have to admit that most of my success can be attributed to a strong bull market. In other words, I have a lot to learn 
The initial plan after quitting my job was to go to school and specialize in finance, but I have now made the decision to work 100% for myself from the start and make a wholehearted attempt at making a living on Forex.
I`m finishing up a project now and when that is done, I will have all the time in the world to learn Forex.
How do I proceed?
I have bought a load of books and gone through the EXCELLENT "School of Pipsology" once already. Repeating that one for sure 
I have also opened a demoaccount at Northfinance using Metatrader, even though I have traded virtually nothing yet.
Are there any resources on learning how to use Metatrader?
Should I read as much as possible before even starting to play around with my demoaccount?
I would appreciate it a lot if you guys could help me design a Forex-bootcamp! |
I have been earning some decent profits on a consistent basis, maybe I can share a point or two from my experience.
I do backtesting on the currencies pairs that do not have wide spreads (currencies pair that have spreads of more than 5 pips are out for me). I do my testing based on 2 years period. Then I use those indicators that have proven to be profitable in my backtest for my own trading.
By doing that I am keeping the odds in my favour, there are no certainties, only probabilities.
To win, you need to speculate when the odds are in your favour, so succeed you need to accurately predict and play the odds. You need to know how to place your bets to maximise your profits and keep your losses small. To do this you need a disciplined trading plan.