Hello everyone, I’m Daniel and I’m hoping to look for a mentor or any kind of advice/knowledge you guys could share in the comments. I have learnt from some of the trainings this website provide and I want to ask can I just start out with Fibonacci and support/resistance level for beginner and start making a profit, don’t have to be much profit but as long as I know I’m improving bit by bit.
I’m all out to learn and trying to master this trading skill.
Always believe in this quote “Nothing is impossible, it’s how bad do you want it”
Mentor is a complicated issue in Forex trading, so many paid Fx Mentor are available in Online and most of them are found to be scams. so be careful when choosing a Mentor.
I think that: To be an excellent trader it is very important to acquire the preparation that is needed from advanced and successful traders. Fundamental analyzes require an understanding of the international economy and its agreements with factors not yet accounted for by the market. Experience has taught me that a true trader does not sell courses, but offers his knowledge of forex strategies and methods for free.
As with each new practical learning activity, trading requires that you start with the basics and move slowly until you understand the playing field. Start by investing small sums of money and keep in mind that the slow but steady is the one who wins the race. Do not let your emotions take over you. It can be very difficult sometimes, especially after experiencing a losing streak. But maintaining a rational level will help you stay so you can make competent decisions.
Of all the Forex tricks and tips for beginners, this is the most important: You will never succeed at anything on your first attempt. Only constant trading practices can produce consistently superior results. The development of trading discipline and the ability to manage your emotions will help you stay fresh under pressure. Enter and exit operations at the right time either to reduce losses or take profits before the market spins.
Before engaging with a mentor (whatever that means I suppose is in the mind of the mentor) just get hold of a simple low risk strategy and start to work it with tiny amounts risked or through a demo account. Then just post up specific queries re what happens.
You only really start learning to drive once you take the car out onto the road.
Perhaps get to learn one instrument - mine is Eur/Gbp by default.
So FA has been saying of late that it is a buy, but we all know that nothing continues in a straight line, there has to be pull backs.
Fibs are only one measure of pull backs - so have a look at this hr1 - note that the fundamentals have not changed so in essence price ‘should’ have continued north - but it didn’t.
See the reactions, then look at the dbl bottom - imagine how much faster price reached down there than it did when rising - now you have to look at Eur/Usd to figure why.
That’s learning with you as the ‘mentor’ - the thinker.
