Best beginner forex book/guide? - page 5
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The other main thing is trading discipline, on how discipline the trader to follow their trading plan.
there is a saying in forex.
plan the trade. trade the plan.
'Way of the Turtle' is the only book worth reading in that list IMHO.
I wouldn't read the Rob Booker book unless my life depended on it.
Nial Fuller has some great free information on price action trading, I learned a lot from his website.
Nial Fuller has some great free information on price action trading, I learned a lot from his website.
Yes, I totally agree, I learned a lot from him. Just his free stuff is worth checking out, the courses he offers are pretty awesome too.
are we gambling, or are we trading (investing got a chance to win)
we always try to convince ourselves
we are learning trading
and that is not gambling
====
but -- ask ourself for the truth
after a few win or a few loss
do we bet more -- no matter win or lose
-- when we bet, are we random pick the timing and have no discipline
---- during anlysis, we could have logic, but in the real trade, we can't see the or follow some stingent guidline
so we are really gamble
i.e. for beginners, better learn wii or PS3, just learn a fw things and actually, only 95% don't know what is going on
among 95% know what is going on, we aim for 15 to 75 pip -- then it is gambling
set up some guideline beforehand, if we consisstently cannot follow it ---- then don't even dream or hope that " watching or understand analysis" will bring us profit
just a game of unlucky " and game of chances" -- do you agree [for yourself]
we always try to convince ourselves
we are learning trading
and that is not gambling
====
but -- ask ourself for the truth
after a few win or a few loss
do we bet more -- no matter win or lose
-- when we bet, are we random pick the timing and have no discipline
---- during anlysis, we could have logic, but in the real trade, we can't see the or follow some stingent guidline
so we are really gamble
i.e. for beginners, better learn wii or PS3, just learn a fw things and actually, only 95% don't know what is going on
among 95% know what is going on, we aim for 15 to 75 pip -- then it is gambling
set up some guideline beforehand, if we consisstently cannot follow it ---- then don't even dream or hope that " watching or understand analysis" will bring us profit
just a game of unlucky " and game of chances" -- do you agree [for yourself]I think trading can be as much like gambling as you make it. The difference is that if you have an edge you can execute it flawlessly and over time you should make money. The probability is not totally random like in some gambling games. Now, the probability of any ONE trade working out is basically random, but if you trade off a high-probability setup like a pin bar for example, you can use that probability to your advantage.
yes, You can find various free courses for the Forex trading and they can be very useful for the newbies and Its very important to have a basic knowledge of the Forex market and the trading tactics. I must suggest you to go fro the online Forex courses and when are perfectly understand all the basics of the trading then only think to enter in the real world of Forex and then enjoy your trading.
the way i started was i read up forex for dummies series gave me lots of info to get started and not get confused at all the slang terms used in forex trading
One additional thought. No matter how much educational articles you have read, the best thing is to practice and ask questions. Start a free demo account and start trying and configuration everything you can think off. If you have any questions, then you can try to find them in google, a lot is written on the topic or ask. That's at least my strategy for now, trying to "master" the demo account mode before stepping in with the big boyz.
FOREX is brilliant, but we know everything brilliant is very simple!
Where i can find free forex books to read only, i heard of disciplined investor is good. Please let me know, if there is any other good book.
My advice to you, to be a successful trader, you don't need to know what even means DLL (dynamic link library - sometimes used togeather with expert advisor) etc.! The only thing you need
to have - is experience. Don't waste your time reading useless books! Even in dental books is described how looks "sound" dentin and/or enamel after carious mass excavation. But the only way how to understand word "sound" - you have to keep practising more - as much as you can, because nobody can describe, what exactly means "sound" - only once you prepare more teeth you obtain experience and sense, what means "sound" dentin and/or enamel. The same is with Foreign Exchange. I can Suggest to you only one book: Your Mind and Memories about FOREX -
experience (emotions during opening positions, discussions,
account margin call etc.). Otherwise -
.
Good luck.