The Start of Something Great!

Hello all, my name is Marcus and I’m a 32 year old state worker from New Orleans, LA.
Before I say anything else I need to say thank creators of this WONDERFUL site!!! BabyPips School has explained forex trading in a way that made sense and was highly enjoyable (at least the stuff I understood quickly :22: ).

I am a complete NOOB but I have just completed the Babypips School. I am looking forward to paper trading and discussing topics with everyone in the forum. At the moment I have low capital so I plan to DEMO until I can save up enough to open a micro or mini account.

Is there a consensus on which U.S broker would be better for my current situation? (I know all have different pros and cons)

In the school quizzes it says I should look into:
-Day Trading
-Trade Majors / in a Mechanical, tend following system with volatility stops (does a current system sound like this)

THANKS ALL!!!

Greetings Marcus and welcome to the forums! Thanks a lot for the wonderful comments and for sharing a bit about yourself. There are several brokers available to US traders, but the best way to find out is to give’em all a try on demo and then with very small account (and taking very small position sizes). Each trader is different so there is a process to finding the best one for your needs. Good luck bud and we hope to hear more about yourself and your home city of New Orleans!

It is good to meet you Marcus. How did you get interested in trading or find out about it? I trade the EUR/USD which is the most traded major pair. The EUR/USD has had a lot of volatility during these couple years (which I like). But it all depends on what you want to trade and how your personality fits into that. I have employed a mechanical system, which is profitable, but the biggest barrier to my system succeding to its full potential is me. Where I am getting at is, you will soon find your edge and what pair will work for you. The biggest thing is don’t give up. There will be times when you say to yourself “I can’t do this. Why am I always losing,” and so on. But if you stick to it, and you start making a profit, it is all well worth it.

Thanks for the welcome! I am currently going back and forth between FXCM and Oanda with a winner (not is sight). As they say down here “Laissez les bons temps rouler!” meaning “Let the good times roll!” :59:

Its kinda funny to me when i think about how i got interested in trading. I had what my wife would call an “obsession with cell phones” as i am in love with Tech. I would go on sites like craigslist, ebay, swappa and trade my cell phone, every week i would have a new cell phone and after playing with it i would start looking for a way to trade for a better or more popular phone.

Well a few weeks ago a group of my co-workers were sitting around in the cubical next to me talking about getting rid of a phone, when one of them said ask “Marcus”, he can get rid of your phone real quick. As i stood up to start talking that same person said he’s a “Professional trader” i laughed as I started telling them what i knew and sat down to continue working. Before i started back working, I googled the term Professional trader. In my mind i could see the similarities in what i was doing with phone and the stock market. I knew there was a stock market but nothing other than that.
(honestly, i don’t think my co-worker was even thinking anything close to the stock market)

During my search i ran across a youtube that was showing a live trade in progress, at the end of the video the youtuber closed with a gain of $300 (not exact) in 6 minutes and I WAS HOOKED. The next 2 weeks i looked for every free website (investapedia), youtube, podcast and books i could find and studied them day and night. I got to the point where i was thinking of buying a program but i didn’t want to waste my money on a scam. during this time I received a call from my mom (just to talk) and she asked “what was i doing” and i told her i was reviewing some material for a trading course i was interested in. At that moment she said " You know i have a friend that does that stock stuff!". I was excited as i could have someone explain to me about stocks and asked her to get us in contact. Once we were in contact i found out that she was involved with the market, but not the stock market (and here is where FOREX was introduced). During our discussions she sent me to this site (which i cant thank her enough) and that’s currently where i am at now!! (Sorry for the long post :54:!!!)

Is it possible to discuss the bases of your mechanical system? (if not that’s cool) I do want to Thank you for the encouragement, I definitely wont be giving up as this has become a part of me. it’s something that i extremely enjoy and can see providing me a way out of the so call “rat race”. I believe in positive affirmations so i can say without a doubt that i will be part of the 10% that make it!!! The Start of Something GREAT

What an interesting post and good read. Thank you for that. I got into trading a similar way. My mechanical system is set by reducing emotions or eliminating them completely out of trading. Also it also allows me to focus on developing other systems. My mechanical system is a counter trade system where I place my OCO orders on Sunday’s open, and close 10 minutes prior to the close on Friday. I back test my system using over 10yrs of data, while avoiding over optimizing and curve fitting my system. I also manage my risk by trailing my profits with a fixed trail stop. My system has placed over 650 trades from 2002 - now, with about a 51%/49% win/loss rate. Highest ratio for G/L is 3.5:1. The hardest part of this system is the trader himself.
I like trading mechanical system because it’s hard to pull the trigger using a discretionary system, and I have missed a lot of moves because of this.
I hope this helps and if there any more questions or this didn’t help, please don’t hesitate to ask more. It is good to meet you and look forward to reading how well your doing in your trading.