I admit that I’m a new at all of this and I’m still learning and have a long way ahead of me. But sometimes I get frustrated of this. There are so many things to know, consider, and be carful about. I see people know so much and I know, they surly spent more time rather than me who just started but it’s overwhelming and sometimes I think about giving up. Any peace of advice guys?
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I’m on the same boat don’t give up , keep going study everyday .
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Your question is answered by the best yet most cliché advice: don’t give up.
There’s no rocket science behind it.
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Keep it simple at this stage. Youtube up the simplest strategy you can find. It might be one time-frame and only one or two moving averages to more clearly show price movement and changes in momentum. Run this strategy in a demo account.
Remember that trading is basically simple - there are only two types of strategy - buy because price has been rising, or buy because price has been falling.
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The third strategy would be to buy if the correct price is above you and to sell if the correct price is below you.
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How long do you think it takes to become a doctor?
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It’s completely normal to feel overwhelmed and frustrated when starting out in forex trading, especially with so many things to consider and keep in mind!
First of all, take it one step at a time: Don’t try to learn everything all at once. Start by focusing on the basics, and gradually build up your knowledge and experience over time.
After learning basics you have to manage your emotions: Managing emotions is a crucial aspect of trading. Make sure you are in the right mindset before placing trades and avoid making impulsive decisions based on fear or greed.
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How does this work?
How does what work?
“buy if the correct price is above you”.
What do you mean “correct price”, what do you mean “above you”, how do you know its going higher from where it is?
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not to mention how you might know that it’s the “correct price”? … 
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I don’t know what the current price of gold is and I’m not even going to bother looking but let’s just say it was $1,800 an ounce let’s say that’s the proper price of gold let’s say that’s the current market value of gold but somebody offers to sell you an ounce of gold for $1,400 that would mean that the correct price is $1,800 and you can be very safe in buying his ounce of gold for 1400.
Arbitrage is an example of such a thing
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Here is my piece of advice.
First up do not see yourself as a ‘newbie’ - instead you are a learner, and every day for the next number of years that will remain so.
Second - guys like to parade their superior knowledge of the market - reality is the market is perhaps the simplest of all human endeavours - the quest to make money. Think in those terms - the ‘greed’ to make more and the ‘fear’ of losing it.
(Neither greed or fear are derogatory - it just is how the market behaves)
Third thing, and the most important - don’t listen to old guys like me - instead make your own journey - we are history whereas you are the future
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I haven’t seen markets work the way you describe.
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@babygogo Pretty much has got it in one how these markets work… If you can devise the formula for the instrument you are trading’s correct price then profiting from these markets is much simpler…
Now it could be the SMA50/100/200 level on the 4 hour TF, the Daily TF even the Weekly TF… Or whatever strategy, Indicator or level that gives a repeatable reliable correct price result…
Consumers apply arbitrage concepts every day of their lives… Fuel, Clothes, Food etc… When anyone is silly enough to ask me how do you work out where price is going, I use the analogy below…
You walk into your local supermarket each week to buy your 2 litres of Milk… Shopping each week, you know that 2 litres of Milk is usually $3.85, let’s say the correct price…
Last week it was on special for $2.75… So, you bought 2 x 2 litres because it was cheap… This week it is $4.50… So, if you don’t need it you don’t buy it… You’ll Buy it when it’s the correct price or lower…
Now, here’s where non market participants eyes glaze over…
What if you had the ability to Sell the 2 litres of Milk back to your supermarket… The 2 litres that you purchased last week for $2.75 is now cheap at $4.00 against this week’s $4.50 price tag…
And arbitrage works exactly the same in these markets with the same external market forces working on the price of each commodity, currency, even your 2 litres of Milk…
Less Milk… Higher Prices… More Milk… Lower Prices…
Below is 12 months of NASDAQ (NAS100 D1 Chart), blue line is the SMA200…
Below is 12 months of Dow Jones (US30 D1 Chart), blue line is the SMA200…
Long Term… Could you trade these successfully if you knew the correct price…???
When you said that you were doing fine, but after that it was straight downhill it was a complete fall right off of a cliff.
The one single problem in trading is figuring out if the price is going up or if the price is going down and it has nothing to do with history prices.
Figuring out how to do that is entirely your problem and it is my problem but it is not our problem this is not a charitable business.
I’m not trying to be rude I am telling You The facts of Life when it comes to trading
Whenever anyone offers to tell you how to win at trading they’re probably blowing smoke up your skirt
I’m not sure I understand that at all. I think this refers to setting a limit order so you can buy at a low price, before price goes up further.
If the current price of an instrument is X, but you know that the correct price is Y…
if(X<Y) buy(): else sell();
Note:the value of Y changes faster than does the value of X, but on a few rare occasions X actually moves faster than Y.
Let’s ignore your first post of arrogant newbie buffoonery…
The formula you provide… X = Current Price, or MA1 and Y= MA200…
Ok @babygogo Lets pull some of your Psycho babble apart…
So, according to you… The MA200 (Y) changes faster than does the value of the Current Price/MA1 (X)…
But on a few rare occasions Current Price/MA1 (X) actually moves faster than the MA200 (Y)…
“The moving averages with shorter durations are known as fast moving averages and are faster to respond to a change in trend…”
You should think a little more deeply before you post here… Your 75k won’t last very long…
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I was thinking about your problem…Just to be direct…
It’s time to suck it up, put on your big boy pants, and march forward.
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