Recommended reading?
- 10points 3.mq4
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Forex Trading: Education & Training - Learn FX Currency Trading Online
About BabyPips.com
Is your only experience with the currency markets involve buying traveler's checks? Do you think bulls and bears in terms of animals you see in the zoo or your backyard? If you've never traded the foreign exchange markets, then BabyPips.com was made for you.
BabyPips.com is an easy-to-understand guide for teaching beginners how to trade in the foreign exchange market. Everything you need to get started is right here.
When we first started trading forex, it was hard to find information online for beginner traders. If we did find something, the content only covered certain topics and few specialized in forex. After long hours of searching, we were only able to find a hodge podge of sites. It was extremely scattered. We had to learn about support and resistance on this site, the MACD on that site, trading psychology on yet another site, money management on another site…you get the picture.
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About ForexBoost.com
Whether you know absolutely nothing about trading the foreign currency exchange (forex) market or you've been trading for a while, ForexBoost is one of the best resources for learning this business and making you a better trader. We have everything you need to get going in the right direction and start trading.
If you've been trading for a while, you know how hard it can be to find profitable forex trading strategies. There are so many forex strategies on the market today, it's very difficult finding ones that work and filtering out all the ones that don't.
I created ForexBoost because I found there were not many great forex training and educational websites that weren't run by forex brokers. The problem with that is there are far too many forex brokers that trade against their clients. That means the more money you lose while trading, the more money they make. So why would I want to listen to strategies and techniques from the companies that would rather have me lose money that make it? It's like the oil companies telling us they're spending millions of dollars to research alternative energy resources and in the meantime they're taking billions of dollars from us each and every day. Do you really believe the oil companies want to replace oil? I don't think so. Nor do I think that most brokers want us to win at forex trading. Not all brokers work this way, but the majority do, so you need to find the forex brokers that are trustworthy. We also share what we know about forex brokers on our website. We've used many of them and know first hand which ones are good and which ones aren't. We also belong to a group of forex traders and know which brokers they like and which ones they don't.
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HTH
Well... great that good for you.
- just please... be patient and never 'feel' you 'must' take a trade - like death and taxes being sure events, their will always be another trade passing your way!
Wish you well in this very exciting journey
:o))
Go for it G !
Personally, I'd say that trading is a doddle... BUT the mind game is the biggie (certainly is for moi) where income verses expenses is an issue. When manually trading, guess what? one must as they all seem to say Pull the trigger. At the other end again, ya gotta stick to your system and exit, exit and... exit! Is always easy after the event to sit staring at the screen and do the if only I'd... game. No point - either you follow a plan 100% or is mostly sure thing that expenses greater than income. So look after your mind by all means. If you browse around, you will see that massive amounts is written about the psychology part of financial trading - what instrument type is irrelevant. Let's be honest here: up,down or sideways... what else is there? So any half way decent trading plan will see you in profit - as long as you sincerely follow it and... learn about how to manage your income, how to make it work for you - not against you.
Think very long and hard about the concept of compounding - as they say "from small acorns, do great oaks grow". Never a truer statement - imho.
Is obvious that you are prepared to do some book work - and... apply what have read - cool!!
Always remember that reading around a subject is good because you are exposed to data which in the normal course of daily events, you would never come across.
Suggest you keep a daily trading log too.
What made me trade?
If not open trade when trading plan said 'enter'... why not?
What was I feeling at time of trade? eg, pulse up or face flushed or calm and 'just going about the business'...
What made me exit?
What feelings had when made exit?
If not take exit when trading plan said 'exit'... why not?
- oh yes, in same log or separate log, keep trade details. Then, armed with your 'mind' log or? you can go back later and take another look at the lie of the land - but great thing then is, you will not have any mental buttons to be pushing, nothing to cloud the mind... end result is that post trade analysis could well show you just where and why you did what you did [to your benifit or not :o]
heck... could go on for ever here, but IF not able to have some sort of coherent answers to above and like questions, well, seems to me that your style will grow up in an unpredictable way.
ie, the word consistent will not be your by-word... :o))
As a business there is nothing wrong with expenses is there?
Is all about how the business uses the income it does make.do not over fixate on W/L ratio. not the only reason one makes income...
;)
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