i’m currently thinking if i should put my money on mentors and systems. mentors are way way expensive, but if they are good, why not? systems are good, but they one day, the system fail, you’re on your own. so what do you people think?
is there any mentor/system you guys recommend?
or any video course. and what is the best forec product review site?
If you had a winning system, would you sell it?
Why would you?
You wouldn’t need to.
If you were a good investor, why would you sell your services as a mentor?
A good investor can make many times more than what he/she would make teaching someone, with no frustration.
So why would they put up with the headaches?
“but they one day, the system fail, you’re on your own.”
That’s where you’re gonna be with either one.
Learn it all for yourself, and no one can take it away.
Save the money you would spend, and use it to invest.
There is everything you need, available on the net. And for free. Google/Bing is your best friend. Roll up your sleeves, and spend the time, and soak up every bit of info you can here and anywhere else you can get it.
Take no one’s word for granted, do the research.
It pays great dividends;)
Cheers!
Stay away from the mainstream.
yea… i get what you’re putting through. its just like not leaning on the wall. because if one day the wall falls, i’ll have nothnig to lean on and is on my own.
but i read and bought books about strategies and foundations. but after reading… i dont know what to do next.
am i right to say that mainstream people are buying software, systems and hiring mentors and i should stay away from it?
I think the general consensus here is that one system is just as good as another, most of trading is down to the individuals’ approach to the system, his/hers understanding of the market and his/hers expectations.
You will not find anything more powerful as a system in itself that you will find right here on babypips, most of forex trading is self learning, it doesn’t matter how good the mentor is, it will always be mostly down to you, so I can’t see how it’s worth paying hundreds of pounds for someone to tell you what you already know, while the real problem is putting what you know into practice, and only your time and dedication will get you there.
Look for real practical help, more than theories and systems.
so you suggest i read here at babypips, then do my own practise?
It would be very easy to waste a lot of time and do a lot worse than that, there are scalping techniques, long and medium term strategies, traders to follow, there are no better experts out there than you will find here.
do you have any traders to recommend?
You need to decide first what kind of approach you want to take I think, personally I scalp, and want to get in and out as quick as possible and have my work done, not saying that this is less effort than long term trading, some long term trading strategies do not involve much work at all, but I’m the kind of person that would always be curious about my trade, and if I had an overnight trade on I just wouldn’t be able to sleep, so I never leave my trading station with a trade on.
Decide first from these approaches what you want to try, then your options are narrowed down.
HIGH 5! i’m like you. everytime i make a trade, even on demo, i’ll wake up every 10 to 15 minutes to see how its going. and i’ll never have a good sleep! does that means that i should go with shorter timeframes? i prefer shorter timeframe because i dont have to worry much when im doing other stuff and there is an open trade. so i thik im gonna get into smaller timeframes. what’s next?
Take your pick Free Forex Trading Systems: Review & Share Currency Trading Strategies
I don’t know though which are scalping and intra-day systems, I know this is a scalping strategy 301 Moved Permanently , it’s the strategy I trade.
You could start a thread asking the question of which are the scalping strategies? unless you get a list from someone on here.
thanks alot. if i face any problem, or are not profitting after following the system. can you guide me?
Master Tang pretty much hit the nail on the head. Spend the money investing and learning on your own. All the knowledge you’ll gain, you’ll keep.
okay. thanks alot for the help.
yeah! i’ll invest on myself instead of making people rich.
Set your stop and go to sleep. You will wake up to a predetermined loss or an open trade unless it hit your take profit.
If you want to take classes and Courses i dont say that you shouldnt.
However i dont recommend that you choose a course where you will be “Given” a system to trade. Find a class that teaches you how to build and test systems. As you said, “but they one day, the system fail, you’re on your own.”
The old saying goes “If you give a man a fish and feed him for a day, TEACH a man to fish and feed him forever”
but so far, i’ve never found a course that teaches how to build my own system.
I think you’ll find it near impossible to find a course that teaches you how to build a system, in my view for that purpose you won’t beat BabyPips.
I don’t think anyone would actually say never take a course it’s not worth it.
Let me attempt to crystallise my thoughts.
Maybe you could learn trading by sitting with a mentor and trading with him for a few or months, but is that practical? Is it achievable? I don’t think so, a profitable independent trader wouldn’t want to do that, why would he? He’s an independent trader to start with so that’s what he wants to be ‘independent’, and would it work in terms of time.
Next best thing? Trading rooms, never used one personally, my aim from the start was to be independent, but I think there is value in it and probably a lot to be learned.
$97 ‘rip off’ PDFS, never what they are cracked up to be, but if you have some money to spare, and want to build your own systems, you may find them useful, but then again only to prove that it’s probably not as good as some of the information on here.
There is a saying (but there always is with forex) that trading is 20% system and 80% psychology, so if you put it this way - if you’re only paying 20% of the total value of the course because 80% of it is down to you and your psychology, what is the value you are getting?
Not sure if that’s very crystal, but main thing is be savvy!