Even I read few books about forex and learn the school here, I still strugle to create my trading plan & strategy, as well as establishing my entry and exit points. I will continue my learning, but I start to look on One on One training in attempt to step up my learning curve.
Any of you people here had take such a traning? Do you have any positive experience with someone?
I prefer to conitnue to invest in my education rather than start to trade live and blow my hard earned money. Any advice will be deeply appreciated.
Education is expensive either in time, money, or sometimes both (think university). It’s a lot cheaper here and coupled with a demo account you can practice to your heart’s content. One caveat - set up your demo acct exactly as you would a real acct ie leverage, starting amount, lot size, etc. My only suggestion is to find a strategy and time that you can trade. Some with day jobs can only trade at night, others early am. Find your way here, it is a great journey. d.
You can google fx nation live, it is not one on one but he does offer daily live online video classes. I did 2 months when I first started with forex, and recently, another month as a refresher course. I do not recommend the software used in the class, MT4 is better IMO, nor the brokers he uses, but the concepts taught are the basic ones traders need to master: support/resistence/pivots/price-volume.
He also posts free support-resistance levels for the week on Sunday evening and Mon-Thurs he posts entry/exit points based on these same levels for the 4 major pairs. I check these daily & by reading his commentary, I have learned what to look for on my own.
Another great resource is the Candlestick thread by Tymen in this same Newbie area. Start at post #1 and by the time you catch up to the present you will be amazed how much you will understand about price action which is the most important factor to trade successfully (IMHO)
In the end … it is just a question of patience, it takes some time before you are ‘seeing’ it for yourself. Keep trading actively in demo accounts (maybe have 2-3for different strategies) and give yourself time … it will come.
Would you pay to go to college? I would. So I don’t think its such an outlandish idea to pay someone to teach you to trade. Actually, thats what I did. Go on youtube and search FXBootcamp.
Forex is like puting a child in the seat of an F-18 hornet with no experience and asking him to land it on an aircraft carrier. Or like that funny commercial where the guy is on the phone with a surgeon and the surgeon is telling him where to cut himself to remove his appendix. haha, it doesnt work like that. You need an education.
