New to FX

Hi all

My wife is a fx trader. well did some training with knowledge to action. so they have given her some software using esignal. with that software she has learnt few trading skills which she buys and sells based on the arrows or alerts i think its called. So she only buys when it triggers to buy or sell. No personal research or nothing purely lives by the triggers

is that a good practice? She has on occasions done well and on occasions lost fair amount.

I am thinking to go into FX trading too but not sure if i should do same thing as her or take another route. I am happy to do self learning but not sure which is best. I have read on shaw academy and may consider using them too.

I want to start of with FX and then expand to other markets like stocks maybe. Is there a system that gives trigger to buy for stocks too or is that based on research etc?

I am sure this question may have been asked numerous times! so apologies if it has.

Why not just add some research too her signals, then she can add to the signals and maybe adjust stop losses, manually stop the trade, ignore signals, take non signal trades, adjust lot amounts based on her knowldege while using the signals?
At the minimum cut her losses.

FX is better than stocks. Stocks suck. too expensive for retail, who would give high leverage on a Stock. What is stronger and larger, a company or a country?

Hi

many thanks. your points make sense and guess your right. FX is better. Its just i have bit more better understanding on stocks than FX but have heard there is good money in fx.

Can you point me to some reading or video of FX so i can train up and start it? Do all guys usually trade on self research or do they trade on signals too?

Well I was sort of joking about how bad stocks are, just you have to know more details it seems, like most of the financial markets and specific corporate information. And less volatility. insider trading that they say is banned but still done. At least fx insider trading is just a known.

I really swear the only time I have made money is going with the long term trend. I use pretty wide stop loss.

this website has the tests, i took a lot of those and learned a lot.
read all the new releases
watch all you tube videos but don’t believe all the systems

When they say develop your own system, I think the largest part is feeling the markets, spend time in the markets making small trade.

honestly I read dozens of news reports every few hours searching google “nzd/usd” or “eur/usd” click search tools and search just the past hour, click in news tab and web and read everything.

Vidoes probably mostly on youtube. Dukascopy tv has some stuff. Oanda has learning materials.

I think you should learn how to trade if you want to succeed as a trader and not rely on others.

babypips.com is good school whereby there a lot hidden information inside where you can apply on your trading.

I use the top signals to confirm my trades, usually.

If you can learn to trade with the trend, cut losses short and let profits ride, you can make nice profits. Start in Demo. Wait until you get very good. That might take years. Then start trading the minimum micro-lots like 0.01 lot per trade. When you get good at that, you are ready to go for it. Plan on it taking 6 to 10 years. About the same as getting good at any well paying profession, like a doctor or lawyer. I have an advanced degree in engineering. Trading was harder and took longer to learn. Why would anyone think it would be easier?

Trading solely based on signals is not a good idea, this is kind of like the nostradamus thingy that gain capital was flashing about and did as it’s namesake did, it pointed in both directions, and was vague…

So yes, since you are planning to go into forex yourself, would suggest that you start with the baby pips school, review some of the online free info, check out a few webinars and then, open a demo account or a small live one…good luck…

try to use forecasts, some famous brokers make everyday fx analytics. I use it on my broker’s website, very helpful

I think she is only following an indicator, nothing fancy, this happens in following any kind of indicator in your trading, try to master the art of trading with price action especially on higher time frames, it works like a charm for me.