Pipcrawler's Thoughts on Setting Newbie Expectations

[jdb2000]

Ive also often wondered, much like Robin34, why there are gaps like that?

[FringFX]

I believe gaps have something to do with liquidity (buyers and sellers or lack thereof) and even possibly with widening of spreads.
They rarely happen on Forex, but if they do, usually it comes during news time or weekends.

By the way, when you see gaps (or any price anomaly), check the charts of other brokers just to see whether the gaps are consistently shown.

[Jim Anderson]

I believe gaps have something to do with liquidity (buyers and sellers or lack thereof) and even possibly with widening of spreads.
They rarely happen on Forex, but if they do, usually it comes during news time or weekends.

By the way, when you see gaps (or any price anomaly), check the charts of other brokers just to see whether the gaps are consistently shown.

The gaps over the weekend can be vicious. I remember trading during the financial meltdown 4 years ago, and watching the market gap huge 100's of pips from Friday to Monday. Today, I refrain from holding positions over the weekend, in order to control my risk.

If a Trader has a 30 pip stop loss going into the weekend, that 30 pips stop loss becomes obsolete on Monday morning if the market gaps 200 pips.

Just a few thoughts for the learning traders who feel it might be a good idea to hold positions into the weekend.

[shofik23]

Unfortunately I am, very curious. I can take something as a given for a short period of time to get my feet wet but overall everything I've been told/read about will come into question. I don't truly believe anything until I can prove and understand it. This is the reason it took me so long to seriously look into Forex and start learning in the first place, sounded too good to be true. I did find a real answer, it won’t make you rich, its a job, and it takes A LOT of work to get close to beating a savings accounts ROI! in anything, especially trading is the same thing. You've got to learn, practice, and make the efforts to improve. And the reason why I compare trading to these different fields is because I see it as an art - where its not an exact science and every moment is different. Michael Jordan didn't play against the same 5 guys his whole career, nor had the same teammates. Every song Miles Davis played didn't have the same chord progression or melody. And every patient in some way or another is different than every other patient a doctor may see in their career. I think that to be a great trader the person has to be inquisitive. It amuses me (no, it actually pisses me off, but since Forex is a zero sum game it's actually a good thing) with the crowds blindly following advices that they don't even bother to try to know why that is.

[grudovz]

I approve !!!

[Artamba]

Hmm... where have I read this post before? Oh, that's right! On the very first page of this thread!

[Kwill]

The gaps over the weekend can be vicious. I remember trading during the financial meltdown 4 years ago, and watching the market gap huge 100's of pips from Friday to Monday. Today, I refrain from holding positions over the weekend, in order to control my risk.

If a Trader has a 30 pip stop loss going into the weekend, that 30 pips stop loss becomes obsolete on Monday morning if the market gaps 200 pips.

Just a few thoughts for the learning traders who feel it might be a good idea to hold positions into the weekend.

wow.. just the bare thought of that shudders me.. 200 pip loss *gulp*

[F0r3xMaster]

A demo account, but treat it as seriously as your very child's food was up for grabs.

It is very hard to treat a demo account as real.
I suggest to start with a small amount of real money, even 10usd would be enough to change your way of trading.

[candle7779]

Well. I prefer to start with demo. Just because I am newbie. And I want to analyze how does it work. And what is profitable for me. How not to loose my money. I think it is more safety for beginners. But up to you.

[Theforexsignalspro]

Hi friend ,
Yes i think so , its better to begin with a demo account and learn what to do in the market .
try to have two veiw in the market:
1.analysing view
2.trading veiw
first you should analyse the market to see what the market wants to do
when you decided to be a buyer or seller
then try to get positions with a trading system in the way that you have analysed the market wants to move .

BEST REGARDS