Pipcrawler's Thoughts on Setting Newbie Expectations

[ThePhoenix]

Originally Posted by Shell25

I certainly do not feel Forex as an art, I am an artist myself, a real artist and when you are doing art is because somehow you are gifted, and I do not believe you have to have a gift to trade in Forex. As long as you read the news, become accustom to a good platform, understand the bid and ask, basically there are many things that can make a good trader. Also being disciplined and study as much as you can if you are willing to be a winner.

You may be artist but I don't think you understand the term, "art," and, "artist." Being an artist of any kind doesn't require a gift, it requires a drive to learn and patience enough to take what you've learned and apply it as your own artistry dictates.


I can sketch and draw and paint very well. I can do it because my mother did it and the only reason I started at 5 years old is because I wanted to do something with mom, and I happened to keep practiceing it. As far as drawing/painting I've witnessed many people who didn't really show much promise (IMO) and in a few years of art classes drew as good if not better than me.

The definition of art, really means that their are not strict rules you can follow to be just as good as someone else who is already considered great. The, "art," part of it, is where the person learns the basics and learns how to turn them into something special.

The same thing applies to martial arts. I started them when I was 15, now 38. when I started I was a skinny unathletic kid that who was very uncoordinated. But, again I really wanted to learn a MA, because I loved it. I now have a couple of black belts and belts of varying colors from other martial arts. I teach and quite frankly can kick the crapola out of the average joe in a fight hand to hand.

I would argue that there is no such thing as talented and as gifted, only the determination to learn and do what it takes to meet your goals. I think most people use the terms, "gifted, and, "talented," as an excuse not to try things they think they would fail at.

[windtalker]

Hello.
I'm new to this Forum and delighted I found it.
I've been reading and searching for anything Forex related for close to a month now.
I'd like to respond to a few comments made if I may and my response isn't meant to be derogatory in any way.
I've taught in the past as well as present.
In the past it was work related and Martial Arts on the side.
The Martial Arts included the basic hand and foot techniques for the color belts.
The Black Belts, if interested were taught joint locks, pressure points and knife fighting.
I'm disabled now and admin at a Linux forum.
There we teach advanced techniques we call hacks.
We have a few sayings there.
One of them is, "There's no such thing as a stupid question, only stupid answers."
Just because something clicks for you as an individual doesn't mean it clicked for someone else.
There's no shame in asking a question no matter how trivial it may seem.
The shame should be with those who condemn others for asking what they feel are trivial questions.
When you limit what others may ask, you limit your own teaching abilities.

[DonnieGA]

Im Donna Hudson from GA, I joined the comunity a few days ago and just wanted to say hi to all of you. so far I am just reading to get well informed about the Forex market. I wish to get tips or any advice you can share with all the new people joinig. wish us luck

[ed1881]

Originally Posted by bkr1969

I really like your post and just wanted to add a few things. I am new to forex myself, but I read as much as I could over the past year before I started to even ask questions. Maybe it's just me, but I like to try to learn everything I can before I start asking questions. This is not to say that questions are bad...I've seen some really good ones here, but I've also seen some that almost seem like someone is trying to make a joke by posting them. To continue with your analogy, it would be comparable to:

1. Someone wanting to be a basketball star but has never played asking, "What is the best basketball to buy? How do you beat the Lakers? If I shoot the ball 40 times will I win?"

2. A medical student asking, "What's the worst disease? What's the best suture to use when you do an appendectomy? Do white pills work better than red?"

3. A first-time music student asking, "What's the best note? Is it better to play a song in the key of D or A flat? Which do you think is better, Jazz or Classical?"

This is a great community and I know there are many people willing and eager to help people learn. As newbies, though, we need to try to ask relevant, meaningful (even answerable) questions. Just my opinion.

I imagine you're a very succesful trader but that you don't tolerate fools too well. My response to your statement is that a newbie could spend days trying to find out even how to express what they want to ask and frustration must be the biggest reason for most newbies giving up, which in a way might be the best thing for us. After all the fear of failure and ridicule for asking a seemingly silly question could be comparable to deciding on whether or not to making a good or bad trade. I've made the same mistake of asking absolutely rediculous questions only to be told afterward that the answer was in video 4 appendex xII etc which would have only have taken about a year to find. Anyway all I'm trying to say is all you clued up successful traders who want to help us newbies please give us benefit of the doubt if we do ask stupid questions.

Thank you for your patiance, we owe you one

[scotty]

Hahaha those sound like the ten commandments of forex. If you answer all those questions are you promised to be a winner or something? Those sound more like I want to be a better person help me help myself. If I took those question seriously as a beginner all my answer would be no.

[Johnny Be Goode]

Pipcrawler I totally agree with what you just wrote. I've just started with forex, actually, just right now, and at the beggining i got really frustrated because i didn't understand anythin' at all. But patience and practice makes perfection and i hope someday to take all the benefits that Forex can provide us. Thanx for those nice words, it helps people like us get motivated into entering the world of Forex.

I also would like to know, what would you recommend me to do first in order to be able to understand more about the Forex world.

[daydreamer65]

Originally Posted by Johnny Be Goode

Pipcrawler I totally agree with what you just wrote. I've just started with forex, actually, just right now, and at the beggining i got really frustrated because i didn't understand anythin' at all. But patience and practice makes perfection and i hope someday to take all the benefits that Forex can provide us. Thanx for those nice words, it helps people like us get motivated into entering the world of Forex.

I also would like to know, what would you recommend me to do first in order to be able to understand more about the Forex world.

Start with Babypips school

[Pipcrawler]

Originally Posted by Johnny Be Goode

I also would like to know, what would you recommend me to do first in order to be able to understand more about the Forex world.

Greetings Johnny. My first suggestion, besides the one suggested by Daydreamer , is to read books about traders and trading like the ones suggested in my post: Pipcrawler's Favorite Trading Books. The stories and thoughts of successful traders brought me more wisdom and different perspectives on trading than anything else in my studies. Also, I think one of the biggest hurdles for newbies is false expectations, and these books will correctly set your expectations on the time and effort it took to be successful.

Also, I suggest demo trading different methods and time frames. There are so many ways to tackle the market, what may work for one trader may not for another - or any one else as a matter of fact. We all have different views, beliefs, and psychological makeups. Some people are patient, some aren't. Some like indicators telling them where to enter/exit, some don't. Some read patterns better than others. You have to test and improve your skills in different trading environments. You won't find out until you try, and this process will take time as it takes more than a WEEK or MONTH to see if a strategy works for YOU. THIS WILL TAKE TIME! Remember it's a marathon, and in this business you won't know if you're successful until years down the road when you're still trading profitably or out of the game. Be patient and take the time to learn the business right and be flexible.

[Padawan Learner]

First Post Brand New,

It would appear that there are many factors, more than can be listed I suppose that will affect currency value on a second to second basis.

My question for today is can one of these factors have anything to do with the amount of currency or fed. reserve intrest rates that a country decides to to release through it's central banking system in the open market at any given time?

And if thats the case and if govts. are also involved in forex than to me that might give them an unfair advantage so to speak.

Padawan Learner

[khitch]

I had an odd experience. I was inspired to try forex and downloaded a practice platform. Over the following five days I made around 5000 virtual dollars. I used no tools just instinct thinking I could find patterns going up or down. I thought that perhaps I had some inate talent for this and should jump in both feet. Mercy happened and for the next 3 days I lost 8 thousand and came to understand the nature of this thing. It takes a lot of training so that is what I am doing now. I have to wonder if others may have had simular experiences, jumped in and gotten murdered. Times as they are there are a lot of desperate people out there. As a retired person I have seen my 401k turn into a 101k and would love to find a way not to take any more out of it. Maybe there is an answer in forex but it would be months or years away. Being retired though I have world enough and time to practice and learn.