trendie
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Yeah that trendie must be rich man! if he can afford to kiss £75 away!
its a small price to pay not to have my own rules undermined. listening to them, I have passed on my own signals.
I joined to see how good they were. I would not take any of their trades without gauging their ability over a couple of weeks.
agree. I should have known better to allow someones elses opinion conflict with my own robust, workable rules.
however, a newbie, using the room as a sounding board, and just monitoring rather than placing real money, might learn something.
totally agree about better traders just take as much as they can, and then adapt rules to their own temperament.
(really hard work, this, trying to defend and justify a genuine offer to a beginner thats its all above board, and all) :cheesy:
gamma
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Trendie,
I don't think anyone is attacking or judging your very genuine offer, I think they are about the viability and usefulness of the chat room itself.
We read a lot about where they placed the trades etc after the event and how much they made.
I have been a member of Phil's chatroom and learnt a lot from there.
And it is the only chat room I would recommend to anyone.
I am not in phil's chat room anymore but thde money spent was well worth it, what you learn there you will use for a long time.
I don't think anyone is attacking or judging your very genuine offer, I think they are about the viability and usefulness of the chat room itself.
We read a lot about where they placed the trades etc after the event and how much they made.
I have been a member of Phil's chatroom and learnt a lot from there.
And it is the only chat room I would recommend to anyone.
I am not in phil's chat room anymore but thde money spent was well worth it, what you learn there you will use for a long time.
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trendie
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no probs.
spinalwiz
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Hi,
So I'm a member of both the free chat and the live room and can offer my view on a few of these points
So whilst they don’t always specify exact entries they do always announce when they are getting into and out of trades in real-time. Can’t say they are 100% sharp with this just yet as they are still getting to grips with some of the technology but they are getting there. I guess this might be frustrating for some people who prefer a more directive ‘ready, steady, long’ approach, but for people with a moderate understanding they offer thorough commentary and analysis to help you make your own decisions.
I personally find the they talk/you type system works well. They offer good descriptions and overviews of the good (and bad) setups and are very attentive to answering people’s questions. The group is quite lively and it would be absolute carnage if everyone had a mic.
As far as the system goes I haven’t been using it long enough to properly comment, but there are enough people on there making consistent money from it to give some confidence. As a guideline they take regular polls of how people of been getting on and there has always been at least 2/3rds of people in the black
In terms of the service/community I think its fantastic. They are a great, friendly bunch and extremely helpful (both the FX500club and the other members). As a slightly separate point, whether you choose this service or a similar one, I would highly recommend beginners getting involved with some sort of community where there is mix of learners and experienced traders that you can engage with (if it’s a live environment where you are discussing trades as and when then all the better). I now cannot possibly imagine trying to learn to trade simply through reading books and trial and error. There is much more to trading than just the system you use.
But above all I don’t think there is anything to be cynical about, they don’t try and mislead people about what they offer and they do genuinely work very hard to offer a good service. If you are interested, then I’d definitely recommend giving them a ring before you fork over any cash to discuss it properly.
So I'm a member of both the free chat and the live room and can offer my view on a few of these points
So whilst they don’t always specify exact entries they do always announce when they are getting into and out of trades in real-time. Can’t say they are 100% sharp with this just yet as they are still getting to grips with some of the technology but they are getting there. I guess this might be frustrating for some people who prefer a more directive ‘ready, steady, long’ approach, but for people with a moderate understanding they offer thorough commentary and analysis to help you make your own decisions.
I personally find the they talk/you type system works well. They offer good descriptions and overviews of the good (and bad) setups and are very attentive to answering people’s questions. The group is quite lively and it would be absolute carnage if everyone had a mic.
As far as the system goes I haven’t been using it long enough to properly comment, but there are enough people on there making consistent money from it to give some confidence. As a guideline they take regular polls of how people of been getting on and there has always been at least 2/3rds of people in the black
In terms of the service/community I think its fantastic. They are a great, friendly bunch and extremely helpful (both the FX500club and the other members). As a slightly separate point, whether you choose this service or a similar one, I would highly recommend beginners getting involved with some sort of community where there is mix of learners and experienced traders that you can engage with (if it’s a live environment where you are discussing trades as and when then all the better). I now cannot possibly imagine trying to learn to trade simply through reading books and trial and error. There is much more to trading than just the system you use.
But above all I don’t think there is anything to be cynical about, they don’t try and mislead people about what they offer and they do genuinely work very hard to offer a good service. If you are interested, then I’d definitely recommend giving them a ring before you fork over any cash to discuss it properly.
trendie
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ok, guys, all sorted.
got an email this morning confirming that my membership has been transferred over to scasli for the remainder of the first month.
Thanks to James of FX500club for his help and support in making this happen.
Good luck to scasli, and hope it shortens the learning curve to becoming profitable.
got an email this morning confirming that my membership has been transferred over to scasli for the remainder of the first month.
Thanks to James of FX500club for his help and support in making this happen.
Good luck to scasli, and hope it shortens the learning curve to becoming profitable.
JTrader
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danarm
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Hi Guys
Trust you are all well...Interesting to read your comments and gladly they seem quite positive.
Yes i agree the chat was vvv hectic, as so many people had their own views on how to trade that i took a decision to back away from it. Typing and trading does not work but me helping a few novices to stay out of trades and guide them into good setups with high probability and low risk trades is what this is all about. There is so much potential for novices as long as they get that helping hand. I personally feel that if i do the technical analysis for novices under live conditions, as well as talk to them about risk and what levels to get in and get out, they seem to make pips.
I started trading in the city after i graduated in finance but hated the 20 hour days and trading a global book. I then got very frustrated with all the negativity in the FX market (as a home trader) and how many dishonest people were out there. I was looking for systems etc and i realised very quickly that this place was v dangerous and that your average day to day person would get caught out and end up spending thousands on crap...
We all know how tough it is to make it as a home trader and it really comes down to hard work and correct money management. The amount of threads i have read of novices chucking away thousands of pounds on trading as well as getting sucked into long term subscriptions makes me feel ill.
The FX500club is simple...I help as much as i can and guide novice traders into low risk high probability setups. We have now changed the analysis and i cover CBPUSD, EURUSD, EURGBP, USDCAD, AUDUSD & NZDUSD and the world famous FXPimp analyses the JPY and CHF currencies. We also cover the OIL, GOLD, DAX, FTSE & DAX on the 60min charts with a 15min entry.
This works brilliantly now and another day with many making over 100+pips... The 1st week was great with just under 800 pips and then we had 4 weeks of very tough analysis on the short term charts during the london open. We decided to be proactive and change our model and we are now open from 7.15am till 8.45am and 1.00pm till 2.30pm. We mainly use the 60min and 15min and look for perfect setups and bring those 2 or 3 setups to the group each day.
Its simple now and from the testiminials we are getting it is making a big difference. We dont tie anyone into long term subscriptions and you pay the 97 GBP for the monthly subscription with no tie in clauses and then if u dont like it u can leave straight away. It isnt for everyone but for many i believe it helps...
We give as much education as possible and the novices seem to be happy with this.
If it helps to change a few peoples lives i will be happy. I love teaching and making a small difference otherwise i will be sitting here on my tod, making pips but bored.
Anyway good luck to you all...
Dan
Trust you are all well...Interesting to read your comments and gladly they seem quite positive.
Yes i agree the chat was vvv hectic, as so many people had their own views on how to trade that i took a decision to back away from it. Typing and trading does not work but me helping a few novices to stay out of trades and guide them into good setups with high probability and low risk trades is what this is all about. There is so much potential for novices as long as they get that helping hand. I personally feel that if i do the technical analysis for novices under live conditions, as well as talk to them about risk and what levels to get in and get out, they seem to make pips.
I started trading in the city after i graduated in finance but hated the 20 hour days and trading a global book. I then got very frustrated with all the negativity in the FX market (as a home trader) and how many dishonest people were out there. I was looking for systems etc and i realised very quickly that this place was v dangerous and that your average day to day person would get caught out and end up spending thousands on crap...
We all know how tough it is to make it as a home trader and it really comes down to hard work and correct money management. The amount of threads i have read of novices chucking away thousands of pounds on trading as well as getting sucked into long term subscriptions makes me feel ill.
The FX500club is simple...I help as much as i can and guide novice traders into low risk high probability setups. We have now changed the analysis and i cover CBPUSD, EURUSD, EURGBP, USDCAD, AUDUSD & NZDUSD and the world famous FXPimp analyses the JPY and CHF currencies. We also cover the OIL, GOLD, DAX, FTSE & DAX on the 60min charts with a 15min entry.
This works brilliantly now and another day with many making over 100+pips... The 1st week was great with just under 800 pips and then we had 4 weeks of very tough analysis on the short term charts during the london open. We decided to be proactive and change our model and we are now open from 7.15am till 8.45am and 1.00pm till 2.30pm. We mainly use the 60min and 15min and look for perfect setups and bring those 2 or 3 setups to the group each day.
Its simple now and from the testiminials we are getting it is making a big difference. We dont tie anyone into long term subscriptions and you pay the 97 GBP for the monthly subscription with no tie in clauses and then if u dont like it u can leave straight away. It isnt for everyone but for many i believe it helps...
We give as much education as possible and the novices seem to be happy with this.
If it helps to change a few peoples lives i will be happy. I love teaching and making a small difference otherwise i will be sitting here on my tod, making pips but bored.
Anyway good luck to you all...
Dan
After being the recipient of trendie's generosity I have now had over 2 weeks with the fx500 club. Dan's post is right on the money. If you are one of the many lost in the forex wilderness searching for a consistently profitable method the fx500 club is well worth a go.
You're not going to be spoon fed entries and exits, you need to learn the trading method. But that's no secret: you can read all about it on another forum "school of pimpology". The power of the chat room is multi dimensional: it's in the analysis on over a dozen markets: take your weapon of choice and sit back and watch for the setups. No question is too naive or sophisticated - this is a fun positive group with a broad range of experience. I am gaining confidence knowing these guys trade and make money, and are totally open about how they do it. I think it will be hard for me to be consistently successful in this game without some peer interaction, and this is a good place to get it.
OK it's still new and the format is evolving, but it is quite relaxed most of the time, with intermittent bursts of excitement when the markets are running. The emphasis is on trading from the 1 hour and 15m chart but using 5m occasionally for triggering entries.
When I joined I was trialling several methods, I have now abandoned all of them to focus on the fx500club methods. It's tempting at first to watch too many markets as a result their analysis, so now I listen to the analysis on all the markets simply to reinforce my understanding, but look at trading just a couple of them. This I feel is important, it's hard at first not to feel left out when others make several hundred pips in a day on markets I'm not in.
I've still got plenty of learning to do but this is a good place to do it. OK it costs, but they charge in sterling so it's getting cheaper all the time right now for those of us outside the UK
Nothing wrong with charging for good service, for me, the payment is warranted and I will probably commit more simply because I am paying. So often what you get for nothing is just easy come easy go.
If there is any criticism from my point of view, the moderators can sometimes be opinionated about the direction of the market, and of course they are not always right. This at first clouded my interpretation of the rules. Now I have learned to ignore them and am trying to play it as I see it. And I know they wouldn't be the slightest bit offended by that, because there are no prima donnas here. The chat room has a decidedly UK feel to it, and the culture shows, these guys don't take themselves too seriously as so many others in similar roles do. There's none of the uneasiness or "I just don't quite get it" feeling that many other chat rooms I've visited have. No fawning to the fx god here.
I am 100% serious about doing this: I was retrenched from my day job last week, a true casualty of the global recession, and I don't intend to go back to work. I'll be renewing my subscription this week.
You're not going to be spoon fed entries and exits, you need to learn the trading method. But that's no secret: you can read all about it on another forum "school of pimpology". The power of the chat room is multi dimensional: it's in the analysis on over a dozen markets: take your weapon of choice and sit back and watch for the setups. No question is too naive or sophisticated - this is a fun positive group with a broad range of experience. I am gaining confidence knowing these guys trade and make money, and are totally open about how they do it. I think it will be hard for me to be consistently successful in this game without some peer interaction, and this is a good place to get it.
OK it's still new and the format is evolving, but it is quite relaxed most of the time, with intermittent bursts of excitement when the markets are running. The emphasis is on trading from the 1 hour and 15m chart but using 5m occasionally for triggering entries.
When I joined I was trialling several methods, I have now abandoned all of them to focus on the fx500club methods. It's tempting at first to watch too many markets as a result their analysis, so now I listen to the analysis on all the markets simply to reinforce my understanding, but look at trading just a couple of them. This I feel is important, it's hard at first not to feel left out when others make several hundred pips in a day on markets I'm not in.
I've still got plenty of learning to do but this is a good place to do it. OK it costs, but they charge in sterling so it's getting cheaper all the time right now for those of us outside the UK
Nothing wrong with charging for good service, for me, the payment is warranted and I will probably commit more simply because I am paying. So often what you get for nothing is just easy come easy go.
If there is any criticism from my point of view, the moderators can sometimes be opinionated about the direction of the market, and of course they are not always right. This at first clouded my interpretation of the rules. Now I have learned to ignore them and am trying to play it as I see it. And I know they wouldn't be the slightest bit offended by that, because there are no prima donnas here. The chat room has a decidedly UK feel to it, and the culture shows, these guys don't take themselves too seriously as so many others in similar roles do. There's none of the uneasiness or "I just don't quite get it" feeling that many other chat rooms I've visited have. No fawning to the fx god here.
I am 100% serious about doing this: I was retrenched from my day job last week, a true casualty of the global recession, and I don't intend to go back to work. I'll be renewing my subscription this week.
For anyone interested... Scasli is now stacking shelves at his local Supermarket after losing all his money since joining fx500club......I quote
"G'day, mate!
They hinted at so many trades every morning that i got confused, they would be saying yen is a possible short , dow looks like a long, possible short on cable, fook me some mornings they would mention up to 20 different trades that you could possibly take which i guess is for when you get it wrong then you will only blame yourself because you think you chose the wrong trades out of their selection of however many they hinted at that particular morning, it is not like they actually tell you what trade to take they just hint at several and when one goes their way they congratulate all the people who get it right, it seems when some people lose money they are scared to speak up and the fxclub guys never mention when any trade loses and it seems when someone goes "i lost money" no one acknowledges them or discusses why the trade went sour but you hear all about it when they get it right.
I gave up when i ended up selling the wifes car for 1k i lost the 1k by taking a long on the dow after listening to the fx guys get all worked up about it especially their indices guy James who happens to be so bright that he failed University and had to repeat the year, anyway the wife now hates me because she now has to cycle 10k to work every morning and now i am working at the local supermarket stacking shelves and do not know if i will trade again and even though i told them i lost all my savings they still keep calling me up trying to get me to pay for another month ... that is my experience so i wish you good luck with it mate. scasli"
"G'day, mate!
They hinted at so many trades every morning that i got confused, they would be saying yen is a possible short , dow looks like a long, possible short on cable, fook me some mornings they would mention up to 20 different trades that you could possibly take which i guess is for when you get it wrong then you will only blame yourself because you think you chose the wrong trades out of their selection of however many they hinted at that particular morning, it is not like they actually tell you what trade to take they just hint at several and when one goes their way they congratulate all the people who get it right, it seems when some people lose money they are scared to speak up and the fxclub guys never mention when any trade loses and it seems when someone goes "i lost money" no one acknowledges them or discusses why the trade went sour but you hear all about it when they get it right.
I gave up when i ended up selling the wifes car for 1k i lost the 1k by taking a long on the dow after listening to the fx guys get all worked up about it especially their indices guy James who happens to be so bright that he failed University and had to repeat the year, anyway the wife now hates me because she now has to cycle 10k to work every morning and now i am working at the local supermarket stacking shelves and do not know if i will trade again and even though i told them i lost all my savings they still keep calling me up trying to get me to pay for another month ... that is my experience so i wish you good luck with it mate. scasli"
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gamma
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Interesting Post!
I have joined the club and find their analysis brilliant, They do not offer a signal service and hold your hand they expect you to use your own discretion.
With regard to mentioning 20 different trades yes they do but you don't have to take all of them.I only follow the major 4 currency pairs and I only take a trade when my criteria is met.Dan's Analysis helps and complements my own analysis.
Reading your post it would appear that you have made the classic mistake of "trading with money you cant afford to lose".
You should use it as a learning experience hopefully you have learn't something from Dan's brilliant setup, go away practice on a demo account, refine your analysis and hopefully you come back a better trader.
Don't be put off by a bad experience. Trading is a way of life not just something you do part time,I say this from 10 years of living a trading life.
In all probability I will not continue with the club but not because of any negative experience more so because I am a position trader and do not need to watch the monitor all day.But I come away having added to my arsenal of trading weapons.
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I am sorry to hear your experience was disappointing. It is true there are many market analyses, and this too confused me for some time until I found a way to focus. It is hard to feel you're not missing out when the market make a big move and others in the room post their impressive results. I also considered chucking it in at one point but it is very clear that these guys are successful so I persisted, although I knew I had to somehow find a clear path through the maze of information.
My focus was not necessarily on a specific market or two, rather on easily spotting tradable setups using their methodology. My entry now is purely mechanical once a list of rules has been satisfied, so I can scan a bunch of charts quickly and not be distracted by the dialogue and chat in the room. I have found reading the chat is a huge diversion and 90% unhelpful, so I generally now participate only when I have finished for the session or see nothing on the horizon.
There are a number of members who regularly post their totally unrelated trades and this can be irritating and certainly not useful to newbies. This is now actively discouraged and should gradually abate.
I have gone through a trading transformation with this club and it took a while and some determination, but I was prepared for it as my trading was previously very inconsistent.
Results? Last week I took around 200 pips profit in 4 sessions, had I taken all my setups or traded more sessions there would have been considerably more profit but I am still treading with caution.
Your quote above: I find Dan is quite forthcoming about losses and any of the guys will freely discuss their losses if asked. But they do not focus on them. When I was struggling I emailed the club about it, the next day James telephoned me and spent 1/2 hour on the phone to help iron out my problems. You can't ask for more than that.
The fx500 club costs me around $A10 a day, and right now I consider it a good investment. They expect the average member to last 3-4 months, by this time you either get it or you don't. It does take perseverance and just because you don't get it doesn't mean you have failed, there are many other ways to trade profitably. The club is still new and not perfect but I personally find it both helpful and very responsive to member suggestions and difficulties.
danarm
Experienced member
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Hi Scasli
Interesting to see how things have turned around after a little time...
As you know too many people come into this market expecting to make '000s overnight. We are all intellignet people and know this never happens. Its down to hard work and drive that leads to success.
Yes i know the 500club isnt perfect and each and everyday we strive for better performance. The market isnt easy but i now feel we have a system that can be taught as well as be traded. Its not easy when people come into the room with £1k, blow it all on 2 trades and then blame us for not being good at our job. If u cant double a demo account what hope has anyone got in making money from a live account.
I tell everyone to demo trade and then when u feel ready to trade at 50p per point or less and slowly build. By the results u can see that 100-200 pips per day in not unheard of. Many took CABLE today and GBPJPY as explained on my thread..There is no rocket science to it and we try and make it as simple as we can in a very complicated market.
I have always said that the only reason why people fail at this game is down to money management. Once u control yourself the rest falls into place.
I am glad you have made a few pips and hopefully you are turning the corner. I am here to help and please email me if you have any questions about the strategy or any area you feel i could help u in.
All we can do is try our best and if i thought it wasnt helping anyone i would hang up my boots and trade on my own.
Keep up the good work..Believe me when u get this the pips just role in...
Stay positive
Dan
PS I fully understand what u say about others who post their results with trades that arent the strategy. I have spoken to two of them and told them not to post trades like that. I will bring this up again in the room tomorrow and will call anyone i see doing this...Its not fair on the newbies and to me that is more important than any experienced guy showing his results.
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Just for clarification, I do not know "brokerbot" nor have ever communicated with him (her?). I answered his post because it was he who wrote it, albeit pretending to have heard from me. I assumed the vitriolic attack on the fx500 club was based on his own experience but he was afraid to own up to it. In hindsight, maybe it was just an unwarranted act of verbal vandalism. It was certainly not based on my experience with the fx500 club.
Hi All,
I just thought I would post my thoughts on the fx500club and the fxmonkeyschool. I have just re-read this post and realise I ramble on a bit but please accept it in the spirit it is meant, that is to help other novice traders avoid some of the often expensive pitfalls I have fallen into and also for me to show my appreciation to all the efforts made by Dan and the guys at the fx500club.
I am a member of both and have been since January this year. I have been studying and demo trading since Dec 2006 and went live fulltime Feb 2008 but as anyone who trades for a living will know, you NEVER stop learning.
Dan, James and Zak are great guys clearly very good traders and very patient and competent teachers, it never fails to amaze me just how hard they all work at getting everyone up to speed with their trading. Lets face it they could all probably trade very successfully for a few hours a week and play golf or whatever for the rest of the time. The way the rooms work is constantly evolving and improving, Dan listens to what the majority of members want and adapts the rooms format accordingly.
The fx500club is brilliant for people that have the time to spend sitting and learning for 2 or so hours in the morning and the same in the afternoon. The fxmonkeyschool is great for folks that want to learn to trade the longer term charts, I love both but the school is the place that has transformed my trading the most. The guys produce daily videos in the school covering long term potential setups on many currency pairs, commodities and indicies I find these invaluable because by having a better understanding of the daily and 4 hourly charts I have more confidence that I am trading in the correct direction on the 15 minute and hourly time frames. The videos are also great because you can watch them over and over and pick up golden nuggets of info to help improve you trading skills. The live lessons Tuesday, Wednesday and Thursday in the school are brilliant too.
As mentioned in earlier posts, for some the chat room is good and others bad but that's life, for me I love it, there are some very gifted traders as members and they add value to the whole experience. Some of the members have years and years of live trading experience, some with 5, 15 and even one with 21 years, but even they realise that you can always learn new stuff about trading. Lets face it if you can focus on the information you need to improve your trading then more heads must be better than one.
Before joining the club and school I was just trading 5 major currency pairs using support and resistance on the 15 minute charts and using the hourly and four hourly charts for trend confirmation, making a few hundred pips a week on average. Now I am trading multiple chart patterns, across every timeframe from the 5 minute to the weekly, and on every currency pair, commodity and index that I choose to trade. I now have multiple trading accounts so that I don't confuse myself with short term and long term trades. I have learned so much about every aspect of trading from the club and expect to learn much more.
I will own up and admit I thought learning to trade forex would be a lot easier than turned out to be, I think the most important lesson I have learned is to try to find the right way to trade and then stick at it, DO NOT keep trying to find the easier way or the holy grail. There are plenty of "right" ways to trade and plenty of other people willing to teach you, find what works for you but GIVE IT TIME. Don't quit after a couple of months, give it five or six months at least. If the live room makes you anxious because you are not getting it as quickly as you'd hoped and you see others trading and making mega pips consider joining the fxmonkeyschool, there you get no distractions, just follow the daily videos, draw the lines on your charts and let the trades come to you.
Thanks a million Dan, Zak and James, and good luck to all you newbies and pro traders alike.
I just thought I would post my thoughts on the fx500club and the fxmonkeyschool. I have just re-read this post and realise I ramble on a bit but please accept it in the spirit it is meant, that is to help other novice traders avoid some of the often expensive pitfalls I have fallen into and also for me to show my appreciation to all the efforts made by Dan and the guys at the fx500club.
I am a member of both and have been since January this year. I have been studying and demo trading since Dec 2006 and went live fulltime Feb 2008 but as anyone who trades for a living will know, you NEVER stop learning.
Dan, James and Zak are great guys clearly very good traders and very patient and competent teachers, it never fails to amaze me just how hard they all work at getting everyone up to speed with their trading. Lets face it they could all probably trade very successfully for a few hours a week and play golf or whatever for the rest of the time. The way the rooms work is constantly evolving and improving, Dan listens to what the majority of members want and adapts the rooms format accordingly.
The fx500club is brilliant for people that have the time to spend sitting and learning for 2 or so hours in the morning and the same in the afternoon. The fxmonkeyschool is great for folks that want to learn to trade the longer term charts, I love both but the school is the place that has transformed my trading the most. The guys produce daily videos in the school covering long term potential setups on many currency pairs, commodities and indicies I find these invaluable because by having a better understanding of the daily and 4 hourly charts I have more confidence that I am trading in the correct direction on the 15 minute and hourly time frames. The videos are also great because you can watch them over and over and pick up golden nuggets of info to help improve you trading skills. The live lessons Tuesday, Wednesday and Thursday in the school are brilliant too.
As mentioned in earlier posts, for some the chat room is good and others bad but that's life, for me I love it, there are some very gifted traders as members and they add value to the whole experience. Some of the members have years and years of live trading experience, some with 5, 15 and even one with 21 years, but even they realise that you can always learn new stuff about trading. Lets face it if you can focus on the information you need to improve your trading then more heads must be better than one.
Before joining the club and school I was just trading 5 major currency pairs using support and resistance on the 15 minute charts and using the hourly and four hourly charts for trend confirmation, making a few hundred pips a week on average. Now I am trading multiple chart patterns, across every timeframe from the 5 minute to the weekly, and on every currency pair, commodity and index that I choose to trade. I now have multiple trading accounts so that I don't confuse myself with short term and long term trades. I have learned so much about every aspect of trading from the club and expect to learn much more.
I will own up and admit I thought learning to trade forex would be a lot easier than turned out to be, I think the most important lesson I have learned is to try to find the right way to trade and then stick at it, DO NOT keep trying to find the easier way or the holy grail. There are plenty of "right" ways to trade and plenty of other people willing to teach you, find what works for you but GIVE IT TIME. Don't quit after a couple of months, give it five or six months at least. If the live room makes you anxious because you are not getting it as quickly as you'd hoped and you see others trading and making mega pips consider joining the fxmonkeyschool, there you get no distractions, just follow the daily videos, draw the lines on your charts and let the trades come to you.
Thanks a million Dan, Zak and James, and good luck to all you newbies and pro traders alike.
