New to the game and I’m looking to dominate! Hey everyone my name is Tausean Holmes I’m here with the mamaba mentality (R.I.P 24) to master a skill that I believe will be able to take care of me and my family financially in the future. I was introduced to forex by a friend but wasn’t able to afford his course that he was offering due to other priorities I have going on. I know the basics about forex but I am looking for a something that will help me put everything together that will make me comfortable enough to begin trading in my REAL account. I live in the memphis area and I would like to network with like minded individuals and hopefully meet a mentor who can teach me the game.
First of all you need to construct a plan of how you’re going to achieve being a successful Forex trader. This will be your plan, not a mentor’s.
By reading your intro, you’re jumping the gun - so sit back and start to compose your plan and time period which suits your lifestyle, trading style, and mind set. Much of forex trading is a psychological challenge of how you handle wins and losses - some traders actually welcome losses !!!
Once that is in place, is realistic, and looks achievable - learn from pressing the green education button above for insight into constructing a strategy that would work for you. Keep it simple. That’s your edge.
Experiment with a demo account that you treat as a live account before going live, and learn the discipline of risk and money management. This will take months, maybe years before you can say you’re consistently making profits and your psychological mind set is ready to trade live.
If you want to know more about how I transited from demo to live with exactly the right mind set - no cost, just reply to this post…
Thanks for your reply I wasn’t trying to sound cocky or anything but as a former athlete that has just been my approach to anything that I come into. I’ve been trading with a demo account for about 2 months just to see how trades work and I’m not sure if baby pips will help me on creating a plan for myself but I figured that a mentor could since they would have all the experience.
Hi Tausean and welcome.
The best mentor option would be a person already trading at a bank or financial services company. At least they’d show you the ropes. Bear in mind that trading Forex is very much an individual suitability - and thus YOU need to knuckle down and do the hard work. Not rely on someone else who would show you his/her strategy to follow - which may not suit your approach, personality, or lifestyle.
For example, I could show you my profitable bulletproof strategy, and before long, you’re not following my rules, and it isn’t for you. and it doesn’t work or feel right ad nausea. That’s only what a mentor would also offer.
While I do have a lengthy working background in financial services compliance, and could advise you, you would have to tread your own learning path to success - there’s no short cut. From my experience even pro traders have their own style. There are many differing paths to becoming consistently profitable. and as I keep on harping on - it’s your job to find and follow YOUR path, not someone else’s.
I only know of one team experiment - the Turtles who were recruited to become traders, and taught the trending strategy from scratch. While the rules were cast in stone, most found their own way to interpret how they traded those rules. This would be the same result if you paid a mentor from a ‘Forex learning’ company.
Which I would avoid like Covid 19. A costly waste of money, IMO.