sebastian1713006095 Posted August 12, 2009 Report Share Posted August 12, 2009 Re: Help starting with Forex I am also thinking of quiting my sucky job to be a lone trader, how long does it take to trade psychologically Don't quit your job if you are not a profitable trader yet, it doesn't make sense and it could be dangerous for your finances. About developing a trader mindset, it could take a few minutes if someone induce it, but you need a lot of experience to really achieve that mindset at your will, I believe it takes from 2 to 5 years or more for most of the traders to get to the level of trading without any fear and with confidence in yourself and your system. But as human beings each of us experience everything in a different way so you cannot really predict how much time it will take for you to develop the right mindset for trading or even if you will develop it. Quote Link to comment Share on other sites More sharing options...
gkris6 Posted August 12, 2009 Report Share Posted August 12, 2009 Re: Help starting with Forex I thought myself trading will set me free. Yes, but only discipline and trading psychology were not present. So, get a back of those two before starting to trade. Demo trading will reveal all the flaws. Kris Quote Link to comment Share on other sites More sharing options...
traderforex09 Posted August 12, 2009 Report Share Posted August 12, 2009 Re: Help starting with Forex it's about money management Quote Link to comment Share on other sites More sharing options...
reaper44 Posted August 13, 2009 Report Share Posted August 13, 2009 Re: Help starting with Forex just learn from masters in this forum, if this wasn't enough learn from other forum n keep practicing demo :) Quote Link to comment Share on other sites More sharing options...
braziallinare Posted August 15, 2009 Report Share Posted August 15, 2009 Re: Help starting with Forex Not to discourage you, but any real trader on this forum will tell you it takes time and effort to become a succesful trader. 1. So find a trading system that fits you. 2. Learn good money management in your trading without it you will be on the losing end eventullay 3. Remeber this is not a get rich quick over one night and retire the next although we would all like that. [-O< And remeber never put 100% trust in an ea it seems to always bite you in the end Some traders refer to there trading carrer as a initiation period that test you very mental sanity there will be ups and downs at first. And after words you are as cold as ice to winning or losing. Just some fyi from a trader Good luck Quote Link to comment Share on other sites More sharing options...
imatache Posted August 15, 2009 Report Share Posted August 15, 2009 Re: Help starting with Forex And whatever you do, always remember that when you decide to move into live trading you will not perform as in demo trading. In demo mode there's different parts of the brain at work. In live trading you will always close profitable position sooner (than demo) and leave losing position hang in longer. Quote Link to comment Share on other sites More sharing options...
qwert321 Posted August 16, 2009 Report Share Posted August 16, 2009 Re: Help starting with Forex A lot of time and effort is required to be a successful trader. So, it's better to learn with demo account and try out your strategies before going live. Also, try to start small so the losses are sustainable. Just my 2 cents worth. Quote Link to comment Share on other sites More sharing options...
fxlauk Posted August 16, 2009 Report Share Posted August 16, 2009 Re: Help starting with Forex what is the best amount to invest for starting up? apart from demo. Quote Link to comment Share on other sites More sharing options...
happy12 Posted August 16, 2009 Report Share Posted August 16, 2009 Re: Help starting with Forex Amount of account is usually advised as funds you do not need and can afford to lose. Each person of course will be valued differently. As stated real time trading will not be as easy on the nerves as demo. Quote Link to comment Share on other sites More sharing options...
gw999 Posted August 17, 2009 Report Share Posted August 17, 2009 Re: Help starting with Forex A lot of time and effort is required to be a successful trader. So, it's better to learn with demo account and try out your strategies before going live. Also, try to start small so the losses are sustainable. Just my 2 cents worth.Made a similar story, but was my drawdown was much bigger. Also started with much to big lotsizes (standard lot) and after a few winning trades the big losses started. Made the same mistakes - I think most beginner make: to big lotsize, to small SL settings and not enough discipline to take only the best setups. What are you using for a " esignal free webinar" as your method? Quote Link to comment Share on other sites More sharing options...
avibe Posted August 18, 2009 Report Share Posted August 18, 2009 Re: Help starting with Forex First u need to find suitable EA for ownself EAs are snake oils...i have tried all and i am so disappointed :( :-/ Quote Link to comment Share on other sites More sharing options...
nrsinga Posted August 18, 2009 Report Share Posted August 18, 2009 Re: Help starting with Forex You must have capital to trade forex otherwise forget it. You must have the proper education otherwise forget it. You must be willing to learn and mold your life as a trader. There are plent of ebooks in this forum to start learning the basics and build from there. Depending on your time availability, capital availability, and personality you must choose a trading approach and style. Quote Link to comment Share on other sites More sharing options...
jole Posted August 18, 2009 Report Share Posted August 18, 2009 Re: Help starting with Forex EAs are snake oils...i have tried all and i am so disappointed :( :-/ Eas can be wery profitable if you know how to use them. Quote Link to comment Share on other sites More sharing options...
corrupt05 Posted August 18, 2009 Report Share Posted August 18, 2009 Re: Help starting with Forex some EA's do work with the right setting/broker... it depends greatly on the broker Quote Link to comment Share on other sites More sharing options...
hotkisa Posted August 20, 2009 Report Share Posted August 20, 2009 Re: Help starting with Forex Can I get started with $1000 or realistically will I need more? Quote Link to comment Share on other sites More sharing options...
mrwinalot Posted August 21, 2009 Report Share Posted August 21, 2009 Re: Help starting with Forex I'm also new, but I will advice you to learn, get all the advice you can. This forum is a good place to start. Quote Link to comment Share on other sites More sharing options...
zenfist Posted August 21, 2009 Report Share Posted August 21, 2009 Re: Help starting with Forex find a good system that works for you on a demo account,, then do some research on a good Forex broker that wont deal against you. Quote Link to comment Share on other sites More sharing options...
kokowawa Posted August 21, 2009 Report Share Posted August 21, 2009 Re: Help starting with Forex I am also ne, I am tryin to collect material and having training as much as I can. There is several training courses on the web that allowyou to gain the basic info. good luck Quote Link to comment Share on other sites More sharing options...
gavros777 Posted August 23, 2009 Report Share Posted August 23, 2009 Re: Help starting with Forex My advice in forex always play money that you afford to loose.I've seen a lot of people putting all their savings in forex trading and get burned. Quote Link to comment Share on other sites More sharing options...
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