Pipcrawler's Thoughts on Setting Newbie Expectations

[rahiman]

Hi Guys,
Nice to meet you all. My age in this Trading World is less that 13 month.

I believe learning & doing it is to different things. but doing without learning is Fatal Error. I believe trading is dynamic proses of learning that never end.

What I have found it is so much about knowing & rediscover our self. The internal heart & mind is the crucial part regardless about the market doing.

The tough part is to overhauling our own attitude & discipline.

[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

[Hope80]

Originally Posted by equilibrium

I got to the practice path now, i'm sure i'll slowly but consistently get better and better at trading until i become one of the top forex traders, and then you guys won't have the honor of reading my posts anymore because i won't care anymore about you underdog newbies

You are so arrogant, after having read your post I started to feel sick. Only people who remember their past can reach smth, you are a newbie and at the same time you write about other who lack any experience in trading as if they are just a mess, as if only you worth smth and are able to upgrade trading skills and become substantial person in the trading world
You sound pathatic...I predict your flop!

[Pipcrawler]

Hope80, I think Equilibrium was being sarcastic and didn't really mean what was posted....

[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.

[Hope80]

Originally Posted by Pipcrawler

Hope80, I think Equilibrium was being sarcastic and didn't really mean what was posted....

Probably, but one should think about what he is writting cause different people perceive such posts in different ways and some of them can find such posts a bit offencive.

[ThePhoenix]

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.

4. A 98 pound 15 year old teenager, whos never taken a wrestling, boxing or any form of martial arts class in his life telling me his plan is to train for 1 year and then compete in the UFC and become the lightweight champ. Happened, said it with straight face too.

[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.

[littlepip]

I am surprised no one mentioned it, but there are plenty of people out there that have "... the drive and passion to learn and master the fundamentals, practice, improve and learn/practice some more." Michael Jordan did not achieve what he has achieved only because of that. He did it because in addition to what's mentioned above he also has something that most people don't have. Namely a talent. I can drive a race car from dawn to dusk everyday and will never be as good as Michael Schumacher. Talent is important to say the least.

My question is: Do you need a talent to be a successful trader? Obviously it helps, but do you absolutely have to have it?

Victor