New Forex Trader

Community Introduce Yourself
1

Hey Everyone,

My name is Wade. I will have a similar and boring story. But I am fairly new to trading. I have dabbled with the Micro E-Mini S&P and with a bit of Forex. I have lost some money and I have made some money. I really want to dedicate some time and energy to learning to maximize my entry and exit points and learn the way the markets move.

I have had many trades that were positive turn negative and vice versa because I didn’t listen to that voice in my head or because I had poor entry and exit strategies. Also I didn’t have an automated strategy and let emotions control my actions.

I just want to learn everything about forex. My goals financially are to earn expendable income to buy or do things that I wouldn’t be able to do. Vacations, or fixing up and old car. Things like that. If I ever become profitable enough I will entertain making it an occupation but I realize that is a difficult task.

I am excited to join the community and ready to learn all I can.

Wade

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2

Yes, it’s a normal journey which will improve as you become more experienced, including emotional management. Focus on process and let any monetary rewards take care of themselves.

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3

You didn’t tell what you have learned so far. Did you complete School of Pipsology of this website? What are the books you have read so far? Did you read any book on trading psychology?

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its a very good community , so many senior traders and advisors in there , i hope you will enjoy the environment.

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5

Hello Wade, welcome to the forum.
Taking a good entry point is the hardest thing to do in forex. Always take the entry point with stop-loss orders in place. Your exit strategy is to take profit at 1% of your total investment. Use proper money management. Never trade with money you cannot afford to lose.

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