Newbie News from New Newbie

After a long and convoluted career change search, my re-training has turned my python programming into a fascination of Forex. There are logical links in there I promise. As an older dad of two with mortgages and the like, and after taking a couple of courses on Forex trading, this appears to be something I am genuinely interested in. So can I provide enough for my family (over time) that we don’t need to worry about money? that is my goal and with my physics come engineering come programming background, I certainly aim to make sure that I can.

it appears that I am getting a handle on some of the more broad reaching concepts in Forex trading but not some of the smaller details. This is typical for me and I guess everyone comes at learning in their own way. So it’s time for me to start in preschool, work my way up, while trying to apply all this to the markets. On paper for now anyway.

welcome
i wish you the best
the only thing i should want you to be aware of is
1 this is not a get rich quickly
2 need lot of patience
3 need to do a lot of work
research the best trusted and regulated broker
research about trading styles and strategies
research about various forex pairs , commodities , and other products
4 read some history about other known and famous traders
and more
Good luck

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Thanks zrrsys! yes on the top 3 counts which is how i have come to this. I am expecting a lot of research over a lengthy period and practice practice practice before I go live.

Thanks for tip #4. I hadn’t planned on that but I will look them up.
Cheers and may your trading also go well :slightly_smiling_face:
and good luck to you too!

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Don’t get hung up on copying other traders styles or systems. You need to develop and tweak a system so that it fits your individual personality, needs, aspirations, level of risk aversion, commitments (financial, time, and family), etc.

Work through the school here, towards the end there is a test to help determine what trading style might best suit you. Read the threads here and learn from the mistakes others have made.

Best wishes

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75FireBird
do not try to reinvent the wheel
demo accounts are made to test various styles and ideas that others have discovered after a lot of research
so keep things simple
and use a demo account to test others finding
and try to understand why they did things the way they did
use your dev background (mt4 platform is easy to learn) to write code to test others style

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The question on my mind, given your name, do you own a 75 firebird?

If so would love to see pics!

How was your python training? Was it an in person or an online program? I’ve been contemplating exploring the possibility of learning it as well.

Are you looking to start developimg EAs?

Welcome to BPs!

KC

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Good luck with it all!

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I would strongly advise not to make this your only source of income though until you have at least 3 years of proving you can do just that.

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I wouldn’t recommend newbies to join trading if their liabilities like mortgage or other consumer debt doesn’t allow them to put aside some money for trading ( or in other words loss tolerance is low). It can quickly turn into a mess and discomfort because of psychological pressure which can easily lead to silly trading mistakes. It’s like a snowball rushing from a mountainside which grows very quickly.

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Thanks very much eddieb. Intuitively I think that’s what I was setting out to do but it is nice to have some advice along those lines. Thanks and good luck

Hi Ontario, I agree and the trading will have nothing to do with the debt for the foreseeable future. that’s what the day job is for. Eventually yes I would like to move there, but that’s a long way off at the moment. I have a lot to learn and experience trading wise before I can even consider moving towards trading as a viable means of paying anything off. Good advice though. Thanks :slight_smile: and good luck

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Thanks Jessoprules! Agreed and I will certainly be maintaining the day job for a long time to come yet. :slight_smile: thanks and good luck with your endeavors too :slight_smile:

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Hi Frandlost, sorry for the long time silence. 2 weeks, 10 days of antibiotics, 10 days of medical certificates and 1 insistent chest infection, I think I am basically back :smile:

  • no sorry! no 75 firebird! when I was 7 (in '75 - yes now 50) I was given a jacket which for whatever reason sparked my imagination and I used to dream I could fly with the jacket. The brand was a Firebird and several decades later, I had completely forgotten about it but for whatever reason I thought of it earlier this year and though it would be a good, positive, reminder of dreams and aspirations. So no car sorry.

Python was mainly online - Udemy. Some good courses there. I mainly did stuff for data science and can recommend Kirill Eremenko as a tutor. I was also fortunate enough to be able to develop a couple of things for work. So sitting there googling programming solutions to ‘the current’ problem was perfectly justified (in my mind :slight_smile:

I wouldn’t say I was any good, but I’ve done some linear stuff and am starting to get the gist of object oriented, although I would struggle as soon as the OOP goes anyway past basic.

Eventually I would love to program some EAs but I need to understand a lot more first I feel.

Thanks for the welcome! It’s been a very warm welcome - for which I thank you and everyone else :slight_smile:

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Good advice thanks zrrsys! I certainly hope to go along those lines. I have some reading to do first, pre-school here and getting into the forums to see what others have done. It will be a long road, but I have to say, it is one I am looking forward to.

Many thanks for your warm welcome. Cheers

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Thank You :slight_smile:

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