Now back to the original topic ,,, :clap:
How to start learning Forex .
I would like to re phrase that IF i may , and say ,,, how to start learning chart analyses FIRST .
Please lets get 1 very important point on the table upfront ,, and this is only for your own benefit ,, and i am sure every trader will second this point ,,,
I will NOT spoon feed anyone with information , as I will ONLY share the basic idea and how to to do things , because ,,,,
Unless YOU put in the hard hours in , and do the testing , and see things happening infront of ur own eyes and for yourself ,, it will never be YOURS ,,, there is a certain power in learning by doing (practicing , testing , and researching )
Here is a little suggestion on how to think to be able to achieve FULL potential .
Please read this carefully as it is GOLD , and IT IS what makes the difference between full success and average outcome .
You are an ordinary person like everyone else .
You do ordinary things like everyone else ( after all ,, we ALL look at the same charts )
BUT ,,,,,,
YOU MUST do things in an UN ordinary manner !!!!!!!!!!!!!!! HOW ????
I will answer it by an example ,,,,,,,,,
If we look at our mothers/wives , ourselves IF you are as good a cook as i am
,
We see a meal prepared for 4 or 5 people , it is a large meal , and it is large in volume ( actual physical quantity ) in that pot , BUT you will notice , by adding ONLY 2 teaspoons worth of salt and some spices , they will make the difference between an eatable and tasty meal as appose to NOT adding anything to it , and yet that meal in that pot would fill up hundreds of teaspoons .
SO ,,, IT IS the little things that WILL make the big differences .
BE attentive , pay attention to detail , do NOT just look at something ......
Please dwell on what i have just said as it will serve you as good as it has done for me ,, remember ,, i was also there , and no one is different, so i am ONLY passing on what was given to me , as it is my duty as a human being to do so ,,,,
As i did mention before the interruption in the last few posts by different people , i truly suggest for new comers to truly learn how to draw swing charts , as it is the very foundation of this business , i can NOT stress enough this point . and as did mention , i do NOT know of anywhere you can find this information or education , and i can NOT explain it here in written form ,as it needs to be a one on one pro active explanation , as YOU will have many questions , and i do NOT want to ,, and will NOT waste the many many hours required to write it out . as i usually do it through Team Viewer , very effective method .
As simple as it is ,,,, it is reasonably complex when we get to the smaller swings , and tricky ones , as there are strict rules to drawing them , so you can come up with the correct tops and bottoms , and swings become structures and major swings , and thats when the real fun starts with chart analyses and trading .
The second point i would like to suggest , and that is ,, keep in your mind this important point from my own experience, and it is obvious when u look at charts , and all time frames , and that is ,,,,
Every bar has a mathematical relationship to the bar before it .
This point will have your thinking wide open and very sharp , and it is an extremely important theology to have ,especially IF you want to master Fib trading .
Now what do i mean by BAR , or Candle if u wish to call it . is ,,,,
And as much as this may sound irrelevant , or primary school stuff ( we are children in the heart i suppose ??
) , it is extremely important and there is a message behind it , so please learn to start using ur innovative self here , and stop being an imitator , and wanting a trading system or strategy before learning the important basics , as these things are the outcome of this information. or atleast this information will lay down the foundation to developing and achieving these goals (strategies and systems ).
So lets start ,,,
A daily bar has 24 hours X 4 ,,, 15 mnt bars = 96 bars of 15 mnts
4 hourly bars have 4 hours X 4 ,,, 15 mnt bars = 16 bars of 15 mnts
That is the basic point.i will not bore u with more as im sure u can get the concept ,,
Now zoom into ur 15 mnt charts for example , and draw some dividing lines at the 4 hour intervals , which will give u 6 sections, the imporant part is to look at each section as ONE 4 hour BAR ,,, and u will start to see how the market is moving in relation to each of the intervals , as you will start to see some mathematical relationships between them , as this will break it down for you , and makes it easier to understand the concept of what i am trying to say .
This market does 1 of 2 things only ,,, expand or contract , and move up or down ,,, that is all that there is in this business .
Some are in the believe that the market does 3 things , which include what they call sideways move , which i disagree with( that is MY opinion ) for 1 simple reason , and that is , IF we zoom into the so called sideways moves , we will see swings also there and NOT a constant price . Make sense to my justification??
Why is it important i want u to think this way ?????
These sideways moves can be and ARE very important areas , as they hold the key to some very nice quick sweet trades with very small stops and very high probability trades , IF one studies them closely and learn what is happening there . and that WILL come with time .
These areas have other purposes , BUT that will come with time once one learns the swings fully , as they will become obvious when u start dealing with major swings on an intra day level . and market structure analyses .
Believe me , this info will serve u greatly well later in time
Another thing to note is ,,, and that is , while you are studying the charts day by day , which is one of the most important points , and u will see every clearly on a 15 mnt chart for example , is that ,,,,
The market will start the day with a range , and each day it will be different , it can be up or down range , and this range IS of extreme importance ,, BUT the point here is , with time , deep and detailed study , one will see that , that range will be the basis on which they will construct the daily movement . BUT in saying that , do NOT discount the original point ,( each bar has a mathematical relationship) , and this is where we need to widen our outlook , and incorporate different time frames , as the market evolves , we also need to evolve our thinking with it .
Eventually , once u get a FULL understanding of swings , you will start wondering why the market stops at certain places , why at exact prices , how many swings are there in a particular day , inner swings within a larger swing , many many questions will start to surface , as long as you leave urself UN educated , you will be fine ,,, and you WILL continue to evolve with the market and ur thinking will continue to widen and become unlimited in ur thinking , it WILL become your second nature .
To sum this up , i will extend this suggestion ,,,,,
BE passionate about this business , and love it .
Everything can be achieved IF there is a will !!!!!!!
And have this next point as a foundation, which is what i base everything in my business life on ,,,,
STUDY + TIME = KNOWLEDGE
KNOWLEDGE + TIME = EXPERIENCE
The common factor here IS ,, TIME ,,, and if we take that out of the equation ,,,
we end up with the final result
KNOWLEDGE + EXPERIENCE = SUCCESS .
I feel there is more than sufficient base for you to start , and will have u working many many hours , BUT i promise you ,, IF you follow ,, you will be rewarded greatly .
I will NOT desert you , and will always be here to answer any question , withing the guidelines i have set .
I would like to express the following ,,,,
The effort i have put in here is totally for the purpose of helping NEW TRADERS , and it is based on my OWN humble knowledge and experience .
I have kept it as simple as i could , and as short as i could without missing some important foundations , both technically or fundamentally , as my aim to to build a complete and correct mind set and a strong foundation in the mind of NEW traders .
I would very highly appreciate it , IF people will respect that , and its purpose , and NOT to try to knock OR add any negative things here , as none of us is in need any aggravation , and IF anyone does NOT agree with what i am saying ,, either add ur POSITIVE and CONSTRUCTIVE comment to mine , OR just move on please ,, as i WILL IGNORE any negative replies .
Cheers ,
George
P.S.
Please excuse any typing errors IF i missed any
,, pls bring it to my attention so i can rectify IF i can !!!