These people selling courses are NOT making money in the markets, otherwise they would not be selling courses. If I were you I would quit trading the markets.
You’re right. I should. Maybe I can just empty my account and give it to you?
No, don’t give it to me. Let me explain. No matter how much back testing you do the markets are constantly evolving. Hence there will come a time ( and it happens to all traders , it happened to Richard Dennis) where the system you are using to make money in the markets will no longer work. Then you have to make the decision of whether to continue to trade with a different technique or to just quit the markets for good. Only you alone can decide if it is all worth it.
You can know how to trade and sell courses, that’s added income,why not? I plan on building an entire educational forex course around my strategy to promote to other people that’s interested in learning how to trade, for of course a fee. So, you cant say all people selling forex courses don’t know how to trade.
DONT GIVE UP, and don’t listen to anyone that tells you to do that
If you are pressed for time, you can buy a nice organized package course, otherwise you can learn everything from free resources. However, what I would say is really worth the money is a good private mentor.
Develop your trading strategy as far as you can by yourself, and when you start noticing that you are running into more advanced problems which are not easily googled, than invest in a mentor, who will evaluate YOUR trading system and point out YOUR mistakes, and not jut sell to you and to thousands of others his own way of trading.
Honestly, I’m experimenting at this point. I’m using a live account and I’m learning as I go.
I’m watching a lot of videos, which helps a lot too.
So far, I’ve used the above (video) strategy but I don’t think it really works for my style. I found a new video helping with scalping, I think this is more my speed. I’ve been working within bollinger bands and watching investing.com for some tips on buy/sell. Then I basically wait for it to go down a bit and I buy. I’m assuming my little success so far is beginners luck no doubt.
Side note, I still use large lot sizes. I’ll chalk that up to the gambler in me I guess?
I didn’t notice you mentioning a trade journal anywhere. Do you keep one? That would be a step one towards an improvement. gather a few trades data and analyze them. You would be surprised how clear many things suddenly become.
Like a list of closed trades or something more detailed outlining everything?
I go a little heavy on the lot size, I’ll do a count of my pips for the last two days.
I’d say I’m close to about 80 pips for Monday (Sunday/Monday). Around 65 today.
Again, just getting a couple pips here and there through the day.
not just a list. details about every trade - entry, exit, stop loss, R:R ratio and more, up to you what exactly you put there. if you don’t know why you entered, why you exited and it happens to be a good trade, how are you able to repeat it next time?
If you think you found a strategy that works, make at least 20-50 trades exactly the same and if the final result of winners minus losers is positive than you know it is a good strategy, not a beginners luck. That is the boring part but there are no shortcuts to journals.
Great info about the journal. I’ll see if I can fine tune the strategy and hopefully be able to make a clear list of what’s going on.
Well, it was bound to happen. Got in a USD pair when the news hit and lost everything back in about an hour from the last two days. Up a grand total of 22 cents now.
That is the kind of answer someone selling a forex course would give. In the book ‘Market Wizards’ - interviews with top traders, with the exception of O’ Neil’s and his stock market CANSLIM system (which doesn’t work) none of them revealed their trading system. Most stated the techniques, such as when to buy, when to sell, position size money management etc was more important than the trading system itself.
what are you talking about?
One of my goals is to help as many people as I can. There’s no reason to keep secrets at all when it comes to trading because it’s up to the individual to practice and master whatever strategy you give them, and most people just give up anyway after realizing it’s not as easy as they thought it would be
Hi the.dlewis,
best experiences with Adam H. Grimes free trading course which is really very well structured and comprehensive. The quality is really great. I tried a lot of different things, read books on trading and sticked around on different pages in the internet. But that course to me appears to be one of the very best I’ve found during the last months.
Just have a look:
Also his blog is very well written and reveals a lot of knowledge and experience:
Doing that course will help you much more than a lot of other things you might have found in the past and you really do not need much more than sticking to that and practice in my opinion.
Beyond that he has a associated podcast and youtube channel with lots of educating chart reading videos.
Just go for it, this is honest!
All the best for you and your journey
L.
@justshell
So let me get this right you joined baby pips last year learnt everything for free and now you have your own strategy that YOU have come up with all by YOURSELF and want to charge people to learn how to trade when they could just do that for free if they knew where to look…??? Hmmmm…
Why would you need to do that if YOUR strategy is making you profit .?
Never said that at all, and I’m still working on my strategy. Not sure how you interpreted that