Iām very grateful for this community. It helped me a LOT! The school of Pipsology made the path to trading more clear and more organized.
Iāve set my goal to be a very successful trader, so I begun studying Forex 1.5 months ago, giving it my full time and attention. Iām willing to learn and practice for years. I donāt expect trading to be easyā¦
I started with the school of Pipsology. Iāve gone through it 3 times, studying it like it was an academic textbook to the point where I understood and memorized most of it. Iāve also read some books; Technical Analysis of the Financial Markets by John J Murphy, Trading in the Zone by Mark Douglas, and A Complete Guide to Technical Trading Tactics by J. Person. I will start reading The Disciplined Trader by Mark Douglas today.
I started to play around with MT4 platform a week ago, practicing whatever I learned in the school. I know that trading is very challenging and difficult especially that it is risky and nothing is guaranteed. This is why I would like some advice from the more experienced traders who have gone through the same path from a newbie to professional.
Whatever the amount of time or effort that is needed to be successful, I am willing to do it. If someone else can do it, I can too. This is why I am willing to do whatever it takes to succeed.
Iād like to ask when can I start trading Demo ? Shouldnāt I learn more details about Indicators, Patternsā¦before I can trade with Demo account ? Should I learn more about Intermarket relationships and Fundamentals now or later ?
And finally whatās a good advice would you tell your old self when you first started ?
I didnāt know the āChat with Tradersā channel until now.
I will read EddieBās thread.
I am not looking for the thrill of trading. I wasnāt influenced by any Hollywood movie about trading in the past nor did I watch any movie about trading, unless one count āLimitlessā as a trading movie lol.
I like trading because Itās all about Money and also about global economies and mass psychology and Probabilities and about Zen (somehow). I love those three subjects very much!
Frankly, I would recommend to trade on a demo account for at least 3 months, perhaps even 6 months before you invest real money. Getting used to the software is one thing, learning the market is a whole different ballgame.
Think of it like learning to fly, you just completed ground school ( Pipsology) Next you need to get some flight simulator time ( Demo trade) then you are ready to take to the air ( trade a live account) At some point your going to need to specialize in one or two types of trading, which mean 90% of what you have learned you can just file away some place. You will also get to a point where you must decide if you will trade on your own reading of the markets or rely on someone else to identify trade setups. This does not all happen in a few months but many years
Thatās right. Itās a long journey and there is a lot to learn in this field. However, I will accelerate the learning phase by investing my whole time and energy into this.
After finishing the school of Pipsology I thought I knew a lot, but then when I started reading other books, I found out how little I knew and how vast this field is !! But Itās so beautiful and interesting and challenging, thatās what makes it worth the effort.
You remind me of my oldself when i tried to learn trading, I spend the entire day watching tutorial. learning from school of pipsology. join a lot of seminar and training course and learning a lot of strategy.
But as soon as i enter the real trading, there was a time that i donāt even know how to use all the strategy and indicator. this situation makes me want to quit to trade forex several times. Iām a trader before i trade Forex. I trade property and other export import material. but Forex is completely different level.
So i fail trade forex several time but lucky me, my basic as trader help me not to lose money on this one.
So i start to compare why Forex and old style commodity trading so different.
And I start to realize, what i learn from internet is just Basic and Strategy.Since opening account and etering Forex market is so simple. I forgot completely about one of the most important things in Business.
That is āAnalysisā.
How to learn this? this is only can be learn by Time. you must understand how the market supply and demand through chart. and it is not easy. but as time goes by it will make you feel easier to analyse the chart.
I like your moto "if other people can do it, So do I"
Just a little tips from my mistake that you can learn from me (all of my tips is just solely from my opinion):
I was buying hundred and thousand dollars price strategy and indicator in the whole world.
But what i can recall, there isnāt much helping.
~ Strategy: i buy a lot of strategy tutorial, but what i can learn from it that they did not teach you how they got this strategy. and most of them did not giving you explanation how to read the chart before using this strategy. In my opinion the Alligator strategy, Pin bar strategy, etc is mostly was coming from simple Breakout strategy.
~ Indicator: the indicator that i used is just pure free indicator from internet provide me. all the expensive indicator was put all in my computer trash. you can try and buy the indicator and please update me if there is really useful expensive indicator:D
In my opinion The Best Indicator in this World is your Brain and Your Eyes. believe me this is what fund manager use when they analyze the market.
Anyway hopefuly my opinion is usefull
Good Luck and Never give up
Thank you MixMatchTrader Your comment is very helpful.
Iām not going to buy any strategy or Indicator (at least for the near future). As you said, The best indicator in this World would be My Brain and Eyes. This is something I truly believe in ! Also I know that it will take a lot of time until I can get good at this, I am going to spend all my time in this to get good at it as fast as humanly possible !l
Thank you again. Good luck for you too MixMatchTrader
