newbie question
Page 1 of 502 12 LastLast
Results 1 to 10 of 18

Thread: newbie question

  1. #1
    Hi,

    I'ts been just a week I am reading and studying the Foreign Exchange market.
    The more I read, the more things become complied for me personally.
    I would love to ask a dumb question.
    I hear a lot about economic announcements, but I would love to know a reliable source(s) to look for economic statements so I could begin following the Foreign Exchange .

    Can you guys give me some advice on that?

    Best Regards,
    M

  2. #2
    There are lots of unscrupuless individuals hoping to sell newbies the magical black box for trading FX. Believe me don't exchange any money for at least a year research study and research more prior to trading. Also bare in mind most demo accounts do not behave correctly when major news events come out. On real accounts spreads can widen 60 pips, You're requoted, order never filled at your price etc
    Hope this helps
    Sam

  3. #3
    Quote Originally Posted by ;
    Hi,

    that I'ts been only a week that I am reading and studying the FX market.
    The longer I read, the more things become complied for me.
    I would love to ask a dumb question.
    I hear a lot about economic statements, but I would love to understand a reliable source(s) to search for economic statements so that I will start after the FX better.

    Can you guys give me some advice on that?

    Best Regards,
    M
    Hi M
    I am new to this also, but something I have learnt is that you need to understand how to place two orders, both sides of this announcement time to have a hope of getting a winning trade. It is a proficient art rather than for somebody just beginning. Ignore the search for economic statements and don't forget the old adage'everything you want to know about a currency pair is already in the price' (or something like that).
    Pick 1 egy from these forums, better read and study this section
    https://forexintuitive.com/forex-tra...r-journal.html
    and before you place a trade (demo only for a minimum of three weeks ) check out the calendar and stay out of this market around the time displayed as volatile by this image https://forexintuitive.com/forex-tra...ng-levels.html. This one needs focus https://forexintuitive.com/forex-tra...ng-levels.html but the red one is the danger one.
    Get used to ordinary'market orders' (in which you place your trade reside at the current price) or stop and limit orders (in which you place an order at the price you feel the currency will proceed to at some time in the future).
    Among the guys here has a touch which reads. . 'to make small fortune in Forex, you need to start with a large one...
    Take care, or, more importantly, take your own time. is the hardest skill to learn in Forex, and if you do not learn it you could lose a lot of money.
    Pete

  4. #4
    Thanks a lot guys.
    Thats exactly what I do night and day. Reading and more reading. Bought two books I will disect this weekend.

    (has anyone read this novels?? Are they any good)??
    1- Begin FOREX - by Gideon N. Louw
    two - FOREX made easy - 6 ways to trade the dollar - By James Dicks

    Its very tempting to play forex even though I dont understand much. And I cant because I dont even have money for it. When I had, I would be in the casino. . .ehehehehhe

    Best wishes,
    M

  5. #5
    Quote Originally Posted by ;
    Hello,

    that I'ts been only a week that I am reading and studying the Currency Market market.
    The more I read, the more things get complied for me personally.
    I would like to ask a dumb question.
    I hear a lot about economic announcements, but I would like to know a trusted source(s) to search for economic statements so that I could begin following the Currency Market .

    Can you guys give me some advice on that?

    Best Regards,
    M
    Me again
    I know you won't hear us so that I did a fast search and this website will give you a little background on general market sentiment.
    But I hasten to add, learn to read the charts and DON'T foundation trading decisions only on so-called experts opinions. Use them to assist you in your decision making, however, don't assume they will always get it right.
    I ceased reading this sort of stuff some time ago, I had RSS feeds, email alarms, bankers analysis etc, etc until I couldn't exchange it took me so long to make sense of everything.
    Anyhow, here you go,
    http://www.ameinfo.com/news/DailyFX_Currency_Update/
    that there are plenty out there so I'm sure others will point you to them, but get started learning to read the price action posts in this forum first.
    Peter

  6. #6
    Hey PeterFM and all.

    If course I shall listen and listen to what you guys say!
    Thats why I am here for. To learn and study out of you guys and when I attain a certain knowledge I will try and help other.
    Thats why i love this forum.

    Thanks again for all the the hints and help.

    Best wishes,
    M

  7. #7
    Quote Originally Posted by ;
    Hey and all.

    If course I will listen and listen to what you guys say!
    Thats why I'm here for. To study and learn from you guys and when I reach a specific knowledge I will try and help other.
    Thats why i love this forum.

    Thanks again to all the the hints and help.

    Best wishes,
    M
    Hi M
    I have stuck an image of my workspace, I am trying to make my own method that they inform me is a fantastic way to learn this business.
    As you can see it is fairly clean. On the left is a 1-hr chart with a trio of T3 moving averages, and also on the right is a Daily chart, again with just one T3 MA. The indiors beneath the charts are advice only and help me determine the condition of a pairing at any certain time.
    The discipline I am trying to master in the moment is to just trade with the trend shown on the daily chart. I have not quite finalised the principles yet but it's operating at 50% strike rate this week.
    If I had been greedy and taken a bit more time before trying for just one more winner I'd have revealed a nice small profit over the last few days.
    The bits and pieces have been put together from all the info I have gathered from the guys on the forum. I have not done this because I think I know better, I just want to find that sense of achievement you get from creating something good yourself.
    The main thing about this is that I will HAVE to watch the price action and allow the market tell ME what's occurring, no more guessing.
    Any help we can provide you is just a message away.
    Peter

  8. #8
    Quote Originally Posted by ;
    Hi M
    I have stuck an image of my workspace, I am attempting to make my own method that they inform me is a fantastic method to learn this business.
    Since you can see it is pretty clean. On the left is a 1-hr chart with a trio of T3 moving averages, and on the right is a Daily chart, again with just 1 T3 MA. The indiors beneath the charts are guie only and help me determine the condition of a pairing at any certain time.
    The discipline I am attempting to master at the moment is to just trade with the trend displayed on the daily chart. I haven't quite finalised the principles but it's running at 50% attack rate this past week.
    If I'd been less greedy and taken a little more time before attempting for just one more winner I'd have shown a wonderful little profit over the previous few days.
    The bits and pieces are assembled out of all of the information I have gathered from the men on the forum. I haven't done this because I think I know better, I just want to find that sense of accomplishment you get from creating something great yourself.
    The main thing about this is that I will need to watch the price action and allow the market tell ME what's occurring, no more guessing.
    Any aid we can provide you is just a message away.
    Peter
    Could you be able to attach the indiors you have in your charts to this particular thread?

  9. #9
    Quote Originally Posted by ;
    .. .remember the adage'whatever you need to learn about a currency pair is currently in the price' (or something like that).
    Allow me to know how that works out to you moving forward.

  10. #10
    Quote Originally Posted by ;
    Let me know how that works out for you moving forward.
    I'm happy to but I have not quite worked out the rules yet. Give me a day or so and I will happily post it all with how I think it ought to do the job.
    Then you can pick out the bones of it and enhance it.
    I feel just like James and Diallist with folks asking to see MY Technique.
    I feel nervous among you seasoned traders
    Pete

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information