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Thread: NoOb in need of help!

  1. #11
    Ok well I've been looking at this chart thread and I've gotten as far as fibonacci retracement, pivot lines and keltner. I'm confused on these points. I discovered that the fib ret on my chart software but where could I start the chart shape etc how could I put this up? Also the line would setup and that work? And a keltner I have no idea im only on like page 9-11 but dont wanna go on until I understand this stuff. It appears that those pages in there are missing a few images and I think thats were the first advice was.

    So if you could only explain these things to some newb that could be great I did some searching for answers but dont understand how to set up.

    Btw that this chart thread is great, thank you james

    Thank you in advance, andrew

  2. #12
    Quote Originally Posted by ;
    I'm assuming now that this buying/selling pressure charts are BS and a few service scam item but for now that is all I understand; however my buddy is appearing to be having success together. I originally came here searching for free charting appliions like his.
    Welcome to forexintuitive - enjoy your stay! There is surely a lot of useful information here! Allow me to chime in....

    Labour afternoon was 14 trading days ago. So your buddy certainly seems like he's making money hand-over-fist. You mentioned he opened a standard account with only $2500. I did this when I started, also - I had no clue what a mini or micro lot had been. So every pip was $10 and I did have some fortune initially but finally blew my account straight from the water. All it takes is just one adverse move, or a single careless mistake, to destroy a $2500 standard lot account or knock down the balance far enough that you won't have the margin to put a trade on. I predict he will blow up - probability is on my side.

    Next item, do not believe anything you read or hear about performance without seeing it with your own eyes. If you have ever spoke to somebody once they returned from a visit to Las Vegas you understand what I mean. Normally, human beings have a natural propensity to match their winnings and understate (sometimes severely) their losses. When emotions are involved, you seem like an expert when you're up and seem like a chump when you're down - and that would like to look like a chump? Additionally, you never know if your buddy deposited some or all the winnings after the account has been set up. Perhaps he never won them at the first place but utilized some excess student loan money to pad the until.

    Perhaps I am being overly skeptical or cynical, but any firm supplying an indior or a sign that returned 100% in 14 trading days would be charging an outright fortune. This could be the holy grail and the best thing to a crystal ball the financial world has noticed - we're discussing an annualized rate of return in excess of 6,700,000%. What would you pay for a system that could collect the wealth of the whole planet in about 3 decades? Probably more than your buddy has available - otherwise he would not be going to school.

    More than likely, your buddy got lucky or isn't being entirely honest with his trading functionality (or a little of both). You'll find people will not be 100% honest with several things in faculty - grade point average, amount of beers chugged, amount of girls slept , etc..

    I am only guessing here, but he's likely to be tremendously over-leveraged. Over-leveraging yourself is like playing Russian roulette. Too much leverage means you are presently afflicted by the imminent collapse of your trading principal - it isn't a matter of if it is a matter of when. If the Nobel prize winning management group of LTCM (google them if you aren't already familiar) could not endure with ridiculously large leverage, a novice does not stand a chance. Tell your friend to enjoy the ride, though.

  3. #13
    Well I know he is doing well and I dont know how, perhaps is he lying but he isnt in school he is really a business proprietor in his 50s he has had losing trades but he is around 6k currently from 2500, perhaps he did deposit more but I dont believe so. I have noticed his balance in his account so that part is true I told him about the forums and money management assume to be 1-2% of bank roster. Per transaction. So I dont know

    but anyways enough about that thank you for welcoming me

    im still reading this chart forum and im still confused on the questions I asked previously so if somebody could explain them to me that could be good, I have search for them but I dont know how I could set these indiors on my chart (mind you im utilizing dealbook 360 kind gftforex)

  4. #14
    You're able to demo few platform at once, no? Use their demo chart, with their indior, you do not need to use specific build indior.

    If it is about buy and promote power, do you mean, RSI? It's the nearest thing I figure from your definition

  5. #15
    Quote Originally Posted by ;
    well I know he's doing well and I dont know how, possibly is he's lying but he isnt in college he's really a company owner in his 50s he's had losing transactions but he's up to 6k now from 2500, perhaps he did deposit more but I dont think so. I've noticed his balance in his account so that a part is accurate I told him regarding the forums and cash management suppose to be 1-2% of bank roster. Per trade. So I dont understand
    I visit, I misunderstood. I thought he said had been a friend in school with you. Anyway, I'm still betting on a blow-up.

    Quote Originally Posted by ;
    but anyways enough about that thank you for inviting me

    Quote Originally Posted by ;
    im still reading this chart forum and im still confused on the questions I asked previously so if somebody could explain them to me that could be good, I have search for them but I dont know how I could place these indiors on my chart (mind you im utilizing dealbook 360 kind gftforex)
    I will try to answer your questions as best as I can. I'm not familiar with GFT anymore therefore I cannot help on the indiors section. One thing I could suggest is using your demo MT4 to your main charting package while entering orders on dealbook 360. This is what I do - I use two brokers: InterbankFX and FXSolutions. I detest the FXSolutions charting app, but adore the rest of their platform. Therefore, I utilize InterbankFX mostly for their charts since they operate MT4. Only a thought...

    Quote Originally Posted by ;
    I figure I will push on and try to get through lengthly post lol hopefully it will begin to make sense.
    If anyone could recommend some chart software though it could be appreciated I will nevertheless ask in the other tread you cited peter.
    Well, as I mentioned above - I love InterbankFX for their charts and whatnot. FXSolutions I enjoy everything BUT their charts. It is always nice to have two brokers. I enjoy these two.

    Quote Originally Posted by ;
    I was wondering first of all if that buying selling pressure charts are a good way to look at the market.
    Can you get ahold of the charts he's looking at? Give a link to a site which could have an example? Without seeing it, I can not say whether it makes sense or not. As I mentioned in my previous article, if your friend is undergoing account raises the likes of 6.5 million percent per year he will soon eclipse Warren Buffet and Bill Gates - so apparently this is a mighty fine way of studying the markets. Or, like I mentioned, he's just getting lucky.

    Quote Originally Posted by ;
    I glanced through the chart thread (I know I must read it that's exactly what everyone is saying in there articles ) but I'm just so confused on what im looking at, I could kinda understand others charts but and some of the other so called master traders have like 30 lines moving this way and that and I just dont actually know what im looking at or searching for.
    A lot of traders utilize bar charts or candlestick charts. These are a method of slicing up price movements in a particular way that's not only easy on the eyes (staring at a monitor or pouring over pages of lines is straining) but also conveys a good piece of information regarding price.

    Here's an excellent site to get you up to speed on how to read a candlestick chart:

    Do not go forward until it is possible to understand the fundamentals of this website. Do not even bother about the 30 or so lines which some of the other traders possess in their charts. Only get a handle on price (the candlesticks) prior to going farther.

    If you think you have it covered, it is time then to move forward, but I think this should be quite sufficient for a weekend. Be careful and check back regularly!

  6. #16
    First of all thank you for the reply I will examine this MT4 charting and find out if we could replie what I would like to view. Im sure I will find help with that software so far as the chart setup.

    And thank you to the link about candlesticks sick make sure that you check out that. Reading chart thread I understand what im looking at when the chart shots are pub format but yes candles seem to be much harder to observe these DBLHC etc., of what he's talking about at least for me personally at this stage.

    Im sure ill have questions lol

    side note PeterFX did you get my PM

  7. #17
    Quote Originally Posted by ;
    first of all thank you for the answer I will look at this MT4 charting and find out if I can replie what we want to view. Im sure I can find help with this particular software as far as the chart installation.

    And thank you to the link concerning candlesticks ill make sure that you check out that. Reading chart thread understand what im looking at if the chart shots are bar format but candles seem to be much harder to see these DBLHC etc., of what he is talking about at least for me personally at this stage.

    Im sure ill have questions lol
    Wonderful, you're very welcome. There's a lot of excellent information in the thread. I doubt you'll ever get through it all - after some time you'll have wrapped your mind around the notions that the price action patterns James describes will soon be jumping off the chart at you! Fantastic luck and never hesitate to ask if you have a question. Should you ask a dumb question, you might feel dumb. If you do not ask a dumb question, you remain dumb.

  8. #18
    Well.. .where do I begin...
    I've met mr. Currency Market whilst in a guy and under my eyes he made #2000 out of 200 in like 15-30 min.
    8-9 months afterwards:
    I have blown almost #3000. . .hard worked for, money(thank's to eurusd rally I am currently less than 1/4 of making that amount back).
    Here is what I will tell you so far:
    Demo acc Oanda, Alpari etc.. .google you will discover plenty
    What you make from that demo..half it. . .then half it again. . .on demonion acc. The disperse (you ought to know by now what it is) is considerably smaller than actual ones (on Alpari that I think that it is half).
    Place 200-300 at a real acc because on demonion you'll never make mistakes you do on actual acc (trust me on this one).
    Devote a lot of time picking your broker.
    What you need to discover at : spread -what is it, does it changes...
    swap- how much they cost you if you leave your trade on over night
    roll-over - same but 4 weekend
    some x-tra fees
    Not sure if I can post this, I hope I will not get banned or anything.

    My exp up to now IgMarkets: looks ok however: the minimal you may loose at the same trade is #5. For a testing (with actual money: you MUST do that) it's too much. Additionally besides the disperse they will (sometimes) cost you another 3 pip/trade....else ok. .
    Alpari: technically-wise marginally better than IG. Imo definitely fiddling.
    Oanda: most surely not. No purpose to get into specifics but it's true: I won't ever go back to them.
    The mantra: the trend is your friend - if I would have paid attention to it
    Greatest advice out of a n00b to another for the first few months bet less and on larger time frames, don't hurry into scalping, don't dash 1m and 5m tf (time-frames)
    Over all fantastic fortune and most of all fantastic patience and great self-control. . (you are going to see how emotions rule you).
    Also trade (at least in begining) like everybody is out for you: the market, the broker and emotions(adrenaline did it for me worse than some other broker)...

    After more go to it but proceed cautiously.

  9. #19
    You can start a demo account with a good company and play while you are learning forex market and see how your evaluations on demo account are affect by your studies or learning about Foreign Exchange... its not as hard as you entity even people who did not understand trading specifically they get good traders by trading. . You can discover a lot of info and guides out there there but the best way is to learn by yourself while striving with demo account. Fantastic luck )

  10. #20
    Hello forexintuitive community!

    I am new into the trading world, I've been using a demo account for two decades and based on the positive outcomes I'd like to try out the actual thing. During the previous year the only pair that I have been trading is GBP/NZD. My daily winnings are in average 50 to 80 pips and my greatest daily loss is up to 50 pips. I exchange on 5-min charts and I am utilizing 4-h and 1-d to get a general direction. I've read a lot of publiions on your forum regarding trading and trading systems.
    The broking company that I'm going to associate with is FXCM together with the beginning amount of 1,000 euros. I've been in contact with FXCM agents and I am already aware of the requirements to proceed. The tricky part is the way to make money out of FXCM since I live in Greece and the taxing system is very pricey at best. My question is, is there anything that I could do to skip that expensive process? Furthermore, should I start a market worth of 50 euros at the pair of GBP/NZD which is going to be the value of 1 pip? Inside my platform it's approximately 3 euros so that I only need to be certain that this amount is legitimate.

    Thank you in advance,

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