Help!:(

[ariyana-lei]

SHUCKS! i just opened an account on forex solutions, and started my first practice account. or the so called demo account. This is so much harder than i thought its like once the page opened up, i completely forgot what i learned. It really is a very different enviroment then you thought. I think it will take me a long time before i will actually open a real account. I did find out that whatever trade going on with japan always has alot of action happenig especially GBP/JPY. i gained and lost alot from that particular trade. Any tips you guys have for a begginner like me, or anything info, that helped you guys when you guys first started on the demo. like which trades are best or when to buy, sell, and all that stuff. i feel really behind in info. Like everyone else has somthing on the side while they trade that helps them alot.
What helped you guys, or whats helping you guys. im a freind in need here.
well thanks,
-joe ^-^

[Josef Benjamin]

not to sound like an ass dude, but seriously...and I can't believe I'm wasting my time even typing this out...but nonetheless, no one here has any tricks up their sleeves that were not letting you in on. I can assure you, I've been studying this stuff for months now, and everything they(us) know, is all on this forum.

So what's the trick? Trial and error, lots of practice, and more TandE = experience

There is absolutely no way to get around this fact, you will f**k up and goof many times before you learn not to put your hand on the stove again. like a 3 year old, your learning how to walk be4 your run, and run before you drive all over again.

But this time, your conciously aware of your learning progess.

So, to wrap this up, crack open the forum and start reading till your eyes dry out...and I mean that literrally

[PipMonk]

Well said Mr. Benjamin.

Education and evaluated experience is key to success.

[paulr57]

There are NO tricks.

It is going to be painful, frustrating and psychologically demanding.

Then when you trade live, with real money, you REALLY start to learn.

Stick with it, do not give up, hold on with your teeth. It will come.

Paul.
Just about making money after 18 months studying.

[fred333]

keep working on it. You will get it eventually.

[pipbull]

Originally Posted by ariyana-lei

SHUCKS! i just opened an account on forex solutions, and started my first practice account. or the so called demo account. This is so much harder than i thought its like once the page opened up, i completely forgot what i learned. It really is a very different enviroment then you thought. I think it will take me a long time before i will actually open a real account. I did find out that whatever trade going on with japan always has alot of action happenig especially GBP/JPY. i gained and lost alot from that particular trade. Any tips you guys have for a begginner like me, or anything info, that helped you guys when you guys first started on the demo. like which trades are best or when to buy, sell, and all that stuff. i feel really behind in info. Like everyone else has somthing on the side while they trade that helps them alot.
What helped you guys, or whats helping you guys. im a freind in need here.
well thanks,
-joe ^-^

Like Josef said...there are no tricks or secrets. Trading successfully is about commitment and nothing less than that is going to get you the results you seek. In the end though, you will come to discover that the commitment involves 3 main things:

1. Methodology: Once you get your head around all the basics you need to start by developing a method or strategy. If you find yourself taking trades with no rhyme or reason then you will never have consistency. A method is meant to keep your decision making process consistent. You can make the method or buy the method or copy the method...it doesn't matter. What matters is that your method of choice is verifiable through tons of historical and forward testing. This will take a crapload of time and is where most of the committment lies before you even place your first LIVE trade.

2. Money Management: You can have the best method in the world but you will get chewed up, swallowed and spit out over and over again if you risk too much on any one trade. Spend time reading everything you can on the power of money management. It will not make an unprofitable method become profitable but it can make a profitable method even more profitable.

3. Mind: Trading and sticking to your rules takes discipline. It is said so often that it sounds cliche but it doesn't make it any less true. Spend time becoming aware of the common trader mistakes and do everything you can to avoid them. Alas, you will make the mistakes anyway but if you are at least aware of them you have the power to do something about it.

You need all three of these points to make it. If even one is off by a bit you will feel the pain through trading losses. It's an all or nothing world. Bring all of your game or none of it will work

[Josef Benjamin]

Originally Posted by pipbull

Like Josef said...there are no tricks or secrets. Trading successfully is about commitment and nothing less than that is going to get you the results you seek. In the end though, you will come to discover that the commitment involves 3 main things:

1. Methodology: Once you get your head around all the basics you need to start by developing a method or strategy. If you find yourself taking trades with no rhyme or reason then you will never have consistency. A method is meant to keep your decision making process consistent. You can make the method or buy the method or copy the method...it doesn't matter. What matters is that your method of choice is verifiable through tons of historical and forward testing. This will take a crapload of time and is where most of the committment lies before you even place your first LIVE trade.

2. Money Management: You can have the best method in the world but you will get chewed up, swallowed and spit out over and over again if you risk too much on any one trade. Spend time reading everything you can on the power of money management. It will not make an unprofitable method become profitable but it can make a profitable method even more profitable.

3. Mind: Trading and sticking to your rules takes discipline. It is said so often that it sounds cliche but it doesn't make it any less true. Spend time becoming aware of the common trader mistakes and do everything you can to avoid them. Alas, you will make the mistakes anyway but if you are at least aware of them you have the power to do something about it.

You need all three of these points to make it. If even one is off by a bit you will feel the pain through trading losses. It's an all or nothing world. Bring all of your game or none of it will work

I recently had an experience (pretty bad) with number 3. I knew front and backwards NOT to overleverage my account, I can't even tell you how much material I've covered on just that single topic, and what did I go and do 2 weeks ago? Lost more than half my account. He also makes a point that if you know what you did wrong, it's easier to stay in the game becuz you knew ahead of time what not to do, so its much easier to take responsibility for yourself.

He's right, you will make the mistakes anyways somewhere down the road...it just happens, and I say better now then later. I suggest you invest in a game console (like I am) AND trade with an account size you feel is worth your effort earning at the time...so if it means waiting a couple months to raise 2 to 5 grand to trade 1-2$ per pip, then by all means focus on funding your account in proportion to what you want to make.

atleast thats just my experience thusfar