Well my names Clive, I’m from Southampton UK. I’ve only recently started getting into forex, I started about march this year (2017) not knowing a thing about trading but you’ve gotta start somewhere. My broker is IQ option, I’ve won a few trades & lost a few. I use the alligator & MACD indicators I’ve kept them on the default settings & I’m mainly after a little help with trading in general. I’ve tried to work out how the indicators give signals I’ve watched videos & read things on the internet but I dont seem to be doing it right. I’m also trying to learn how to follow the trends the markets provide & best timed charts to use. Tried to do my homework as I believe if you want to be a success you put the work in :), any help is greatly appriciated.
Work your way thru the free school here. You’ll probably ditch most, if not all, indicators later.
Take a look at the 3 ducks system, really simple and it works
Blow 10 or 20 demo accounts using different approaches, techniques, strategies. Garner the list of questions and then return there for serious discussion. Knowledge in trading is ability to identify mistakes, find solution for them and implement it.
This topic already has discussed again and again, but I appreciate for your learning mentality, because mostly newbie try to make profit very rapidly from Fx without learning.
By the way, keep continuing in Pips school with a demo account at any broker.
Learn Forex can be anywhere at present, it’s been a lot of facilities of the brokerage for we can learn forex trading. like a demo account or demo contest. Both of these facilities can be used to learn Forex. Or if the broker provides a video tutorial then it can also be put to good use,
on the other hands sometimes it’s now work practically , because those lesions are most probably developed in a manner to promote their services. There are lots of free learning places so they can be good , Baby pips school is really more appropriate for the newbie.
Actually Pips school l+few ebooks is enough to gain hundred dollar a week.
You can find many techniques to trade forex in babypips. As you said, we cannot get the results what the videos and lessons teach us in the current scenario. They worked out on past results. We cannot expect same thing happen now in trading. Because there are so many indicators which is lagging and repaints. So you have to try every indicators and strategies in your demo account and find which one suits you. You told that you learn how to follow the trend and using charts. That’s good. Keep doing the things. Like that you have to know the best time frames, price action, chart patterns, candlestick patterns etc. Using risk management carefully when you are going to live.
Hello Clive, you are welcome here! By the way, please don’t rely on only trading indicators! Yes, indicators are useful but they are not everything! Focus on mainly news analysis, then study on market movements and patterns, of course you can use few trading indicators in your trading chart, but news analysis is the key point here!
Learn from your losses. Once you figure out what doesnt work you can move on to what does work. Expect your initial learning curve to take years.
Make risk management the foundation of your trading system. Employ a disciplined pre trade and active trade risk management strategy
Price action is key. Identify price pattern, major s/r levels, understand the market conditions, and identify trend using longer time frames.
Longer time frames= less noise, more reliable levels
Short time frames= more noise, less reliable levels.
Be disciplined, eliminate emotion and become as mechanical as possible. Execute your strategy w/o fail.
Dont get caught up in win%, most pips made in a day, etc, etc. Its a marathon, not a sprint. Measure your success on a month by month year to year basis. Not a trade by trade, day to day basis.
Thank you everyone for your respones I’m going to take everything on board, You’ve all been a massive help :), Looks like I’ve found a pretty good forum here. I’ll report back in a few weeks Let you all know how I’m doing. Thanks again.
Are you talking about incoming economic data or news trading? I assume you meant first, as news trading is extremely difficult and challenging and if you don’t have speed advantage your chances to win are scarce.
