Beginners have faith! fast progress is possible - Page 5
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Thread: Beginners have faith! fast progress is possible

  1. #41
    Successful traders are born, not made. I find the story of the intriguing. Even smart Eckhardt believed that the experiment demonstrated trading can be taught to anyone. What the available evidence and that experimentation indicates is that a talent that is pure is required by trading. Think about the truth that the s were instructed how to exchange breakouts and some quite simple MM algorithms. You can teach a monkey but you can create successful traders based on this.

    All this talk regarding indiors and stuff is not going to earn any body successful. Of course you can get by if you spend many, many years doing this. However, being more and successful enough to do it full time and make a living out of it in the brief term requires particular talent. It is rather similar to the distinction between a concert pianist and also the guy who entertains drinkers down the bar. It seems obvious to me.

  2. #42
    Hi all

    I've been mucking about with Forex for just over a year. Trying a variety of techniques. I bought some systems that promised to be the true holy grail of gambling, only to find many of them don't operate at all and many others might work only for those who made them out. Is there actually such a thing as a mechanical system which performs? In the long run, I find that it does not really matter all that much what method you use for your entry/exit. . .there are thousands of great techniques. The winning edge is how you are able to adapt your risk/reward egy it is you use. There's a profitable pro trader in Australia who simply buys signals from a third party. Those signals are correct 20% of the time. He only requires the trades that fit within his risk egy (strangely, he keeps THAT part of his trading secret) and makes huge dollars that way.

    As for Trend Manager and Heiken i.... I have been looking at these indiors for a number of days now. They do likely near a gorilla that is sacred as one can get and seem to be indiors! As soomeone has indicated haiken is. I have looked in the script at metatrader. It seems to involve some kind of pivot calculations. What's important though is that I believe with proper money management these indiors might be quite effective, especially to new traders.

  3. #43
    Trading free of SL and manually shutting a transaction. Seems familiar to what I do as a newbie and I do great with beginner's luck. I should return to what I do because it was really simple to make modest pips consistently. Do not be jealous people... fast advancement is possible and it's up to you when this happens.

  4. #44
    Quote Originally Posted by ;
    You know, I often wonder whether trading and forex only comes more natural to a than it does other people.

    Yes it takes discipline and sticking to a plan without deviation. But some folks are already disciplined. Some people are naturals. As an instance, a local guy here around Richmond, VA.. Was it clicked with him and that he went into a seminar. He had been so good that the folks running the seminar tried to recruit him. He refused. He is years old and has over $50 million at the bank.

    How about this - take someone SO new that they truly don't have an idea of what they're doing. Teach them the basics. Give them a trading plan, i.e. enter the market when this and this = this and exit the market with this and also this = this. Simply put they will make money as long as the trading plan is a good one. Am I not right?

    Problems arise from improper money management and greed. Those would be the two biggest issues I see for new traders. Developing a trading plan is a part that is challenging, but that can be fine tuned as you go.

    Provided that one has a good trading plan, then it doesn't look like rocket science - not to me.
    You understand, I have to eat a little crow here. . .but before I tell you the rest of the narrative, I want to reinforce that I DO believe a successful trader can only happen and that some folks can be naturals.

    Today the rest of the narrative. The 23 yr old above that was rumored to have over 50 million from the bank. Well, turns out that he was a man. Promised 100% yields in 6 months at the FOREX market. He built a brand new scheme, taking $1000 from one guy, giving him $2000 paying him together with the $2000 he took from a different guy. He eventually had taken over $8 million dollars (some Phillip Morris workers emptied their 401k and gave it to the guy!) . He was recently broken up by the FBI and was all over the news here locally.

    Lesson here? The percentage of naturals is VERY, VERY little compared to people who have to work their butts off to make it in FOREX or any trading for this issue. A natural, and oh probably isn't a 23 yr old punk with prior felony convictions for check forgery.

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