Hi
I would like a bit of help… I am as majority of people here consider a newbie. I have been trading for under one month now. I seem to be having a problem with my technical analysis, sometimes the analysis goes against my findings as I go on a lower time frame…e.g 4hr indicates bullish, 1 hr indicates bearish, and I am losing trades and sometimes winning trades. I have also having difficulty in concluding the analysis and sometimes well usually miss out on trades… Where can i find a mentor that will be able to help someone who is takes time to learn without them giving up or the mentor getting fed up if im unable to get the help from this from… I am 30 years of age and have just started or got into the feeling of wanting to trade i know really lame and old to do this but oh well just need the help.
thank you to everyone in advance for the help that i will be receiving in this new family community of mine
Unfortunately I have not saved the setups and execute them on my phone. i can walk you through the latest trade I have done which is the NZDUSD… according to the analysis it was meant to go bearish, due to the fact that a bullish trade from the previous day was not gaining traction and kept going down…further analysis on a high time frame suggested bearish from the d1 timeframe. Executed a sell trade and it has done a reversal after a while, hit the stop loss and turned bullish… executed a bullish trade with a small lot size and got stooped out after it made minor profit as and even though it is bullish i am not re-entering the trade to feed my greed… hope this helps in giving you an explanation.
i do not document it on paper or screenshot the trades, but i do the setups and based on that i execute the trade. when i talk about technical analysis i mean the support and resistance trendline and take the trade based on that along with a bit of the previous structure on that place. i have only been trading for less than 4 weeks as stated and correct me if i am doing anything wrong or if my definition of technical analysis is wrong
Select two time-frames (at the most). The primary time-frame is the one that shows you the entry, stop-loss and probable duration of the trade’s idea - your theory that will make you money. The secondary time-frame is higher and is just a check that you have got the direction right - taking a trade in one direction on the primary time-frame is not necessarily wrong just because the secondary higher time-frame says the market direction is opposite - but you need to have extra-good reasons to take the trade. Nobody needs three or more time-frames.
you have to find a trading style/method to suit your own personality as success /failure is based on psychology.Peoples concentration levels are different and how they accept loss ect.
So how does a beginner go about it, everyone is charging ridiculous amount to teach and some im skeptical of also everyone seems to say the same thing so how can i really learn as i want to gain financial freedom I know its not easy but i want to work towards it
Input=output.
The money you’re going to end up “paying” to the Market Gods for the mistakes you’re going to make, is going to (highly probable) way way way exceed any $ amount some schmuck is charging for a course.
Get on youtube and start watching as many videos as possible.
You can teach yourself to be a pro, it’s just how much determination and will power you have to withstand the years it takes.
Did you try EAs? This can be a perfect solution for your crises. Automated trading would help you save the dilemma like this and meanwhile you can spend time honing your skills and knowledge.
I dont like EAs personally, i would much prefer manual trading. I have heard too many stories of blown accounts with them. There are one or two that are okay but you need to do lots and lots of research
