So much gold in this post. Thanks again for putting this together!
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My pleasure.
Obviously I can only vouch for mine because that’s the way I trade. But I’ve been in this business long enough to know what’s hot and what’s not. And from just checking: they all have merit. More important is that there is very little to no guesswork involved i.e. all nicely and clearly defined. Just a matter of capital and what suits.
But it would seem that our OP has sorted himself out so our work is done here (well mine is anyway).
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It takes alot of practice. Utilize demo accounts. Everyones trading plan is different. My trading plan may not fit yours. How i trade may not fIt yours. Do alot of back testing as well. Youll have days where youll lose and days you dont its about minimizing how much you lose(use SL). Find a good trading plan that fits you and your lifestyle and stick to it. Hopefully you don’t give up,hang in there
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9 months isn’t enough time to become a forex trader or anything else for that matter. It takes 10,000 hours to master anything
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No it doesn’t. For example, did you practice driving for 10,000 hours before you drove out in the car alone? Its just a misunderstanding that’s become an urban myth.
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get with no nonsense forex. the guy is straight and will help you. plus its free.
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It makes sense, the only challenge is that it difficult to find those people and other would request money
Google or Youtube search “No Nonsense Forex” to get proper approach that will help you to have a structure.
You’re not stupid.
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exactly, he’s the best!
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Start with 1D timeframe, it is always easiest one. You have 28 pairs of major currencies though!
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Listen. I dunno how much NNF is paying you lot. But please. We can read (well most around here anyway can read but the comprehension leaves much to be desired evidently).
Look man I’m gonna be real blunt with you. Education is just that EDUCATION… think of trading as a professional as any other profession, say a doctor. You can read 10 textbooks you can go and watch 10 hours of videos and do that for 10 days in a row. you will find yourself with a lot of knowledge but what makes practice is perfect. If you think about it it is like being a surgeon, they don’t just read a book and go out the next day to make 250k a year then 1M a year… they start off small… shadowing and learning from the best… practicing on their own… Trading whether its forex or any other market is the same thing. This is an industry where people think that because you see the money that all you got and it is not the truth. Money is a consequence of the hard work of building a system that suits yourself. take me for an example…
Took me almost 1.5 -2 years to see at least a profit a day, then all came crashing down when ■■■■ changed and i had to re adjust my self, now i dont day trade i am a swing trade but for me there is one thing that no course teach you and is the following listen up: TRADING IS A JOURNEY OF YOUR OWN.
They can give you signals, they can give you a system, they can give you indicators, all of those things may work for somebody else but your mental structure differs from thems. here is where backtesting, front testing and live testing come into play. People say Hell you need like 100k to be profitable others say ehll no you need 10 bucks to do it… it all depends on how you want to make it work. my advice is do this:
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Sit down and say okay this is what ive learned… say indicators, price action whatever you feel comfortable with, then choose an approach.
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Find what type or trader are you. are you a short-medium or long term trader… then find out if your capital suits that type of trading… you want to be long term but got only 100 bucks? Save up then…
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Mess up in demo and backtesting until you got what you need and by that i mean a proven record taht its been working and its time to take it live. BUT dont do demo trading like demo fuckers to and open a bunch of trades and then see what happens. take it seriously, build a plan stick to it and ■■■■■■■ TAKE CONTROL OF THE SYSTEM… if it says take the ■■■■■■■ trade, take it, if it sasy DONT then WHY THE ■■■■ would you do it.
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Im just being honest man if you treat trading like a business things will happen but if you are treating this like a hobby you might just as well go and put your money into black or red in roulette chances are youll be better off there.
any other advice… hit me up ill be happy to help you ! Trading is awesome but you gotta find your own way throught.
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I agree with Trolloc. New traders might have an issue with correct drawings of support and resistance lines. I always start with long term chart. I think that S/R lines are best seen there. Then I move chart to shorter periods of time to spot significant lines on a shorter time frame
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Does anyone have an objective methodology for identifying s/r lines?
Or does everyone rely on just eyeballing the charts?
There’s some very old threads around here called “Technical Templates” and “Alternative Technical Templates” (something along those lines). From what I can remember: anything and everything you ever wanted to know about S/R is detailed on those threads. Wasn’t my thing at the time (nor is it now) but so far as I know they actually did very well those that were involved.
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ATR is good; but I found support/resistant levels & moving average tool is much useful to define SL and TP level.
Forget all your losses and your expenses. Just think that you have been paying “tuition fee” to the market. I’m sure you have learned a lot and maybe you’ll soon discover your edge working for you. Forex has a 90% failure rate. We have to keep learning and keep trying if we are to succeed. Good luck to us bro. 
Bluntly, OP, the problem is you.
I do not say this to be cruel, or to denigrate you. It is simply that it is necessary to identify a problem before it can be solved.
The path you have been on has been outlined by numerous top traders, from Bill Williams (Chaos Theory) to Mark Douglas (Trading in the Zone) to Dr Elder. You are looking for external fixes to an internal problem.
I know that trading psychology sounds like hokum - and I certainly used to think so - but these authors, and a few others, are what set me on the road to being consistently profitable. Not by adopting their trading strategies (although I borrow from them here and there), but by helping me change my perspective.
Bill Williams calls it our personal paradigm. He uses the example of a fish; although it lives in the water, and every aspect of its life is governed by the water, it cannot see the water.
You need to figure out what it is that you currently cannot see, but which has been affecting your trading nonetheless.
that’s exactly what I did. My current mentor is consistent with making profits, and tells us exactly how he trades, doesn’t leave anything out like all of the other “mentors” out there.
Spent lot of money gained result zero ! Why not is stupid one. Reading 100k books can not be measured with your one lesson which is studied and well picked with practice. I wonder users have 1000 usd 5000 usd 10000 usd 20000 usd in ac balance dispite, are now empty. Spending on educations is not bad but when one thing is free to avail than why do we pay? If you jumped in an ocean and taking oxygen box how long will you live inside the deep water? Forex trade is as high as Himalia as deep as pacific! There s no need to cower every thing uselessly all we need is a little but useful. You were needed some analysis indicators a few strategies and time to cange your journey in back gear from ruins to rose palace.