No, you are absolutely wrong my friend. The reason there are so many losers in forex is because they expect to be millionares in a year with less work than a “real 40 hour/week job”. In truth, at least in the beginning, you will be spending 40 hours a week easily (I spend more than that AND I have a “real” job as well as some college classes I’m taking) reading about fx and just sitting there looking at charts.
If you expect to be taught how to trade in one post or even one thread then fx isn’t for you.
I don’t expect to be an expert in one posting or to be a millionaire. I asked a simple question which couldn’t be answered. It’s taken more time for people to get upset with my pointing out a flaw in the teaching structure around here than it would take for someone to come along and say…
‘When I first look at the charts in the morning I start by flipping through every currency pair until I find one with a solid trend. Then, I do this. After that I look for three things which are…’
First off dont ask a question you already know the answer to thats not fair. and if you dont get the response you were expecting then you should probably take the advise. Just words of wisdom from a not very wise man
You THOUGHT it was a simple question, but it was not, and there is no simple answer.
Now that you have been through the Babypips school, go back to the beginning of this thread and take notes of what Nikitafx does NOT do. Price Action trading does not include many of the techniques taught at Babypips school, some yes, such as money management, but others no, such as indicators. Just remember that price can do only one of three things; that price can go up, price can go down, and price can go sideways (nowhere), and then see how Nikitafx judges which way price will go. Of course, price must move enough to justify your risk, but that is part of Price Action assessment.
If we look at the threads going through the newbie island, we can find that the threads that get the most replies are the ones that come with specific questions.
For example,
Q : I use a 30 pip stop on my entries and I find I always get taken out. How do you guys go about it?
as opposed to
Q : I always end up not making money on my entries. help me.
The same applies on an individuals thread. If you watch, everyone replies to a specific question asked about a system. Especially if that question or suggestion comes with a chart. Always.
It makes things easier for the person who is trying to explain it to you to understand what is it that you are really stuck on. If its not that, it just goes to show how hard the person asking the question is working towards finding solutions to trading issues that they are having.
So coming back to your post, it was just a general statement. After reading your general post about how you have failed to make money out of it consistently, I gave you a suggestion that I thought would best work for you. A simple solution that is very true and works generally but lacks anything else in it, fitting to your simplistic general question.
I am a personal example of how others help a trader like me out here in babypips. If you have read this thread and a few others that I write to often you would see what I mean. I have learned more here than I have ever got out of other forums. I have been to many other forums, except for forexfactory ( which I dont know how it works as i have never posted there or read many of their threads. ), I have been to so many others and let me tell you its nothing but testosterone, bull poop, hot air and dodgy advice. That is if they are not trying to sell you indicators on a “donational” basis.
So coming back to your problem and you feeling that you got a negative reply from many here, including me.
Well you will only get answers and the sort of answers that befit the question or the sort of question you ask Joesfx150.
If your question is not right, then how do you expect the right answer?
I only saw this after replying to the earlier one.
Well please go back to page one of this thread. And start reading up to about page 25 I think.
Its broken down on a step by step basis on what to look for when you first flip through the charts with your money coffee. That is what I do every morning with my coffee.
Then from 25 to about 30 something I think, covers alot of questions and also money management and Stop Losses. Where I decide that I am not god and i made a mistake in my entry and right up to where and when do one decide decide our trade is on the wrong track.
And the final pages, from about 30 to about 50 I think, is the ones specifically talking about “price levels” that you asked about. That is the part that gives me the edge over those who were following the thread atleast. Where do I look for this patterns and why do I look for them there and not someway midpoint between Japan and Hawaii ? So that runs from about page 30 ish until about page 50 something I guess.
So I think its fair to say tat Your question was answered, in its entirety, by so many traders here.
But just not in one post. Its the reason why this thread, any many others in babypips exists. It sprinkled in between these 70 odd pages, complete with pauses in between to allow others who might have the same doubts or issues like yourself to ask questions and get answers.
It goes one step further, where it allows other traders who do things differently to give their input so things could also be looked at another point of view. So its not only a one way teaching process, its a two way learning experience that was recorded real time.
You just need to go through it and like others, than ask specific questions on areas that you are not sure of, if any. But you have to go through the process of reading each and every posts and try to look at the charts and see what is it that I and the others see.
Only by doing so will you get the right answers.
Otherwise you are going to be asking general questions and you are forever going to be getting general answers.
Why cant Nikitafx read Nikitafxs thread and become a millionaire by Friday? LOL
Even I cant read my own thread and hit the holy grail by end of the week.
So if its not working out for you initially, try harder. If you have tried all that you can with so many methods and its just not working out for you, try getting a trader to mentor you in real life as the charts are moving. That might help.
But if you still cant get it, than maybe trading is not for you.
Its just one of those things.
I come from an ethnicity that only considers one profession for its children. A Doctor. Unless you are a doctor, you havent got a real job. ( try to guess which ethnic group is this ).
But the hard fact is not everyone is hacked out to be one.
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I cant trades fridays. I am at work at dont have flashplayer on my computer. Also today is a bank holiday (veterans day) so trading will probably be slow so not the best day to trade. But good luck if you do trade today.
Just hit TP on the GU pair. This week I took 4 trade on GU pair 1 hit SL and 3 Hit on TP.can not upload the snap shot. Very powerful method, god bless you all, respect to all veterans.
Good job. I missed that trade even though I saw it coming. I was forced to step away from my PC for an hour and by the time I got back I couldn’t be sure what direction it was going to take (although if I had entered right when I got back I would have been able to get 100+ pips). Hey, better safe than sorry I suppose…
