Hi guys, I honestly recommend “Nononsense forex”, take the time to learn what VP has to offer. It’s the real deal. There’s a YouTube channel, blog and website. Go get it 
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It took me a lot of losses (approx Php 160k?) before even learning how to do it. A piece of advice, find a “mentor”. You can’t do it on your own. Goodluck!
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I spent £3k on training and a system 3 years ago and have made money ever since. Trend-signal . I’ve also recommended friends who have achieved the same. It’s set and forget and just follow the rules. 20mins a day.
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Nice try…
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You should try ICT (Inner Circle Trader). He is an old guru here and his methods works. Some might not agree with me on this but I have back tested most of his concepts though I am yet to try them on a live account as I am still learning from his free available videos. Go to his website and make an account most of his concepts are available for free
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Hi Trolloc63,
Stop paying for courses. Instead use the money to buy a couple of good books on trading, investing and other ‘making money’ books. There are good lists on this website, here is a book list from on of the main contributors here. Try out the trading systems here that have a proven track record. Instead of short time frames, try a simple RSI on a weekly chart with 2x weekly ATR stops.
My favourites are the Cowabunga system and the SMA crossover, for their ease of use and simplicity. I don’t currently use them but you can find your own system from those listed.
The final thing not mentioned is why the trading systems are not working. Are the systems rubbish (probably) or are your emotions stopping you from executing your trades effectively or interfering? I know they have interfered with my trading. If the systems of others aren’t working, try compose your own unique one. The long time frame systems always seem to work best when I back test.
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Go to youtube. Search for Sam Seiden. FXStreet posted hundreds of his webinars, some are recent from this year, some are as old as 2008. Watch as many of them as you can.
I am an OTA [online trading academy] student. I am a full time trader who quit his day job a year ago. I paid over $20,000 for education from OTA. This education allowed me to quit my day job. The information FXStreet posted on Youtube for free is the same information I paid to learn from OTA. Thank me later or never. Good luck.
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1st thing.
80% of retail traders LOSE and probably more than half the remainder don’t make enough profit to class trading as anything more than a hobby.
2nd thing.
I done a trading course with an ex prop trader of 20 odd years when he was just starting out, so paid only $500 per term, for 12 live lectures which lasted anything between 2-5 hours each and was accompanied by 12 one to one online tutorials. Demand for Brian Beamish’s or ‘The Rational Investor’s’ courses has exploded since then, and his prices have taken a hike, and the 1-1 tutorial sessions have been dropped in favour of 1-1 group tutorials…BUT his program is excellent. From have learned how to trade from this guy, I can safely say that most of the free trading setup advice you will find online and certainly the training courses offered by brokers, are fkn terrible and are only setting traders up to have a false sense of confidence, and then to go into the market and LOSE.
3rd Thing.
Until you have statistical confidence in your ability to read the markets and execute certain types of trade set up with a 50% or greater success rate. DO NOT TRADE WITH REAL MONEY! This was the advice I was given, and advice I totally ignored as I didn’t see the point in trading without having any skin in the game. With hindsight I realise that this totally hindered my learning progress which meant it took longer for me to get to a competent level as I was fighting with all the strong emotions that come from getting fk’d over by the market and which totally cloud and taint your judgement.
4th thing
If you are going to be good at trading, you have to LOVE the game for itself, regardless of having money on the table or not, and when you do have money on the line, you have to act like you don’t, relentlessly following the successful strategies that you have internalised as having more probability of working or not without any emotion. No fear, and certainly no greed. To this end the amount that you can risk on any given trade has to be an amount you genuinely don’t care about losing.
Final thing.
The real trick to a finding a successful trade setup, is being able to read the market state. Read the market state correctly, and any old half baked trade setup is likely to work. With so many conflicting indicators and signals across so many different time frames, reading market state boils down to more of an art form than a science and to this end, again, before you trade real cash, paper trade any given asset class like crazy until you begin to feel you have your finger on the pulse of the markets character.
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Trolloc63
If your tired of paying for trading courses that don’t work look up no nonsense forex. VP will guide you through a process of building a trading plan that you can go pro with.
He will guide you but you do the work. And it’s all free.
Be sure and start at the beginning.
Good luck
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Hi, bro, i will not say water is life, i will try to help, u are not stupid, let me say smth, i think, u have some knowledge now, delete all the currances except eur usd or gold and use all ur knowledge and intuition on one chart on demo acc for 3 months bro, if u make it profits just remember the strategy and use it on live acc, with no regrets or smth, risk only the amount u want to risk, like a challenge for yourself
There are always cynics who probably think they know better. Do some research rather than making snide comments on honest posts that are trying to be helpful. Happy to share results but I guess you’re not interested
OP please do not spend any more money on books, videos, indicators etc. Look up a website called no nonsense forex, from there you will find YouTube content, podcasts and blogs. If you have already done the babypips you are in prime position to start learning here. Everything is free. It has changed my trading totally, and all for the better. Please go find this!
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Remember that people selling courses are in the business of selling courses. and that is because selling courses is more lucrative than their own trading.
My own path has led me to examining a gazillion charts using different techniques until I found one that works for me.
My approach is really simple and it works on all 28 currency pairs. Probably I miss a lot of trades because I have a conservative method, it seems to work for me though.
I trade daily charts only and spend about 20 minutes a day updating after the new trading say starts for my broker
Probably you can find a simple method and perfect it and carry on. the operative word being simple.
At first, I suggest the higher time frames so that you have a lot of time to evaluate an entry, master one entry at a time… Use a method that you can feel confident with. which means a lot of testing…
I wish you the best!
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You are not stupid, this is hard! But stay with it, this is long term goal, and EVERY thing you’ve accomplished up to now is experience and you cannot put a price tag on what you have learned.
I am just getting into trading too and I’ve looked at many of the same FX educators you’ve described and I’ve also looked at the online trading academy. Everyone has a bit of the same advice and for a price they will impart upon you even more wisdom so you to can be successful!
After 3 months of education and 4 weeks of DEMO trading, what I have learned.
- Risk management is the most important step of FX trading and the least talked about! Your system, good or bad, automated or manual, will ONLY be as good as your entries, your exits and your level of RISK.
- Your emotions will cause more harm when using a system.
-
I treat my DEMO account like its my own cash.
– I lost sleep when my 1st trade dropped 24%, then yelled like a crazy man when that trade broke even! -
I’ve still managed to lose money because
– I ignored what my indicators where telling me and/or traded when I KNEW I should have walked away.
– I place trades when I KNOW I should not place the trade because the buy or sell signal is NOT 100% complete, this has bitten me 3x actually. -
I am actually writing out my trading plan and spend more time writing and back testing then trading.
3: My evening and weekends are spent backtesting my system and then trading with it on the daily time frame (Thanks VP at no nonsense trading for showing me the light when it comes to longer setups).
Lessons Learned:
I no longer feel the NEED to trade everyday. Unless my signals are 100% confirmed, I DO NOT trade.
When I place a trade, I try every hard to not look at the trade for 24 hours. Then, when I come back, I have a set of actions to take to manage those trades, TP, close, Manage SL, or do NOTHING.
I am working hard to NOT be in the 99%, which means I have not actually traded any CASH and I wont until
I can follow my plan (the plan I develop for myself, not something someone on YouTube as provided me) in my sleep.
Good luck and stay with it…
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Gotta say folks, as with most things in life, the most precious are generally free-
If you’re looking for education, post School of Pipsology, head over to nononsenseforex.com and get your world rattled by VP.
I don’t even know where to start praising the guy.
For me, it’s like someone finally flipped the lights on.
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Check out the You Tube site “No nonsense Forex” this guy is really good and gives free advice saying things that you won’t hear anywhere else. He is NOT trying to sell you a course at all. His videos are addicting to watch in a good way. Please Subscribe to his channel. Karen Foo on You Tube is also good to watch as well.
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Lego I also suggested no no nonsense forex as well. I am really happy that you are doing well, I am implementing his strategies little by little and they really seem to be working.
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He has some great intell on his website. Videos of good clear explanations. I would recommend as well.
KC
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That’s a great offer that I’m sure would benefit the OP!
Thanks for stepping up!
KC
I follow VP as well, glad to see that people are happy with him.
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