I want to thank everyone of you guys for your precious words and help.
It makes this community very valuable.
I will follow your suggestions and yes: I’ve already figured out to stay away from robots or “miracle systems”. I am perfectly aware that there is no 100% win system out there, and trading is more of an art that science.
Yes, I will sit back in my vessel’s lounge, reading few books.
I am starting with a very basic one : “Technical Analysis for Dummies”…and the title really suit me.
Then, I will pick up one of your suggested titles , and try to improve my knowledge.
It will take time but, hey, there is no success when you rush things out.
I agree 100% with the ones who say that demo has its limits. I myself found that I cheated, and it’s horrible: it’s like cheating yourself, and you never learn from this.
The ocean taught me not to cheat, nor wear masks…and I guess I need to do the same with the markets, who (btw) have their waves too.
Yes demo is a best way to learn forex practically and theoretically, more over you can learn articles, join forums to share your knowledge with others. In forums you can find many ways to improve and learn your trading knowledge.
Here I am, I started trading november 2014 lost 200 Euros and got the broker busted (Alpari UK) in January 2015.
I been waiting for my money back until May this year and eventually I got it and start again in real account with 600 Euros.
My suggestions are leave the demo just for back testing remember that not always the strategies are 100% winning so apply a good Money Management.
Personally I don’t really like the use of the SL unless my position is in profit in order to at least take part of the gains in case the market change direction, hedge the position in loss in order to get out at breakeven or with a small loss.
I am sure you have already read many times in your books follow the trend, it is true the trend is your friend, but remember can change at any times !:53:
Indicators are all good but don’t fill up your charts with tousand of that one they will just confuse you and also remeber that they don’t predict the future but they are based on the past - chose one that you like, I do like the Stochastic 14,3,3 set up.
Chose a Time Frame for your chart stick to it flip up and down to confirm the overall trend but make you plan on that time frame and before enter the trade wait for the candle to close on that time frame (mistake I made few times).
What I have learned is to don’t expect that your trade will be right after you enter in profit sometimes will also pass days untill will be. Patience is the key!
That is good , all of that is about technique and side , how with in psychology side while more than 80% problem appears from psychology like greed , fear , emotion and more . i think its need to notice and need to take care to learn about this problem
Making mistakes and experiences are the best teachers in trading, just live Jesse Livermore said “There is nothing like losing all you have in the world for teaching you what not to do”