Sticky Introduce Yourself

[4xpipcounter]

I have a long shirt tail, so you cna have at it.
Actually, one of the things I really enjoy about this venue is the ability to learn and to help. I'm a self-sufficient trader, but I also feel there is still much to learn. Thsi leaves me in a position to help others because of my self-sufficiency, and to be helped, because I am always in need of learning any kind of new tricks.
Let me also add that if it is a technical methodology you possess, then it will apply to all markets. As an example, I do not trade the DJIA as a habit, but I have people that want me to track the DJIA for them and give them my forecasts. What it does is two things. It helps that one I give the forecasts to, becauase they are accurate. It helps me because I can see my methodology works, even in markets I do not have an interest in trading.
One more thing. This is a great place to abet your interests, and to learn much. But, one thing is key. Take no ones word for anything. I always like to make sure that what I believe is because it is me, and not what someone told me.
I have to stop now, anyway, because I'm getting corporal tunnel from so much typing.

Hello FX4Newbies, Sorry for the delay in response. I just returned home now to answer. Thank you very much for your kind welcome and the information you have supplied for me to view. Not sure what you mean when you say you use the "Andrew's Pitchfork" but this is where I start to learn; sounds interesting. I have been trading on the TSX for a year now and have managed to keep my shirt on my back but I am truly enjoying this learning field so much for various reasons it has added to my world, that I am looking forward to moving to the next learning level. Especially in this economic environment, I feel it even to be more important to be armed with good information in the line of trading. I will search out your Goldmine site and look forward to our future conversations. Would it be okay if I pulled on your shirt tales once in a while with a question or two?

Sincerely, Miss Tint:innocent:

 

[FX4Newbies]

Hello FXBeliever,

Glad you find my posts informative. and interesting. Many traders have not heard of the Pitchfork and those who have, may not understand how it is to be used as there are several rules of application and related lines.

So am I...looking to see what else is in store...lots of interesting posts and comments from traders coming. Stay tuned 🙂.

Regards,

 

[FX4Newbies]

That I know...and I have shared some of my trades and results in earlier posts. Here is the link to one such post:

http://www.trade2win.com/boards/trading-journals/95392-goldmine-5.html

That day may come when I show that here more regularly or in another thread or blog. The fact is too, as most disclaimers quote..."past performance is no guarantee of future results", but seeing past performance helps 🙂

FX4Newbies

It would seem to be fully transparent, to simply post some of your trades under a thread the trader has started. There would be no denying that.
I noticed you post what you are looking at with your pitchfork. I psoted my trade from last night on the USD/CHF and when I closed it today. There is no denying I went to sleep and woke up to +77 pips. OTOH, there is no doubt that kiwi and aussie are taking the scenic route still. That kind of transparency and I guarantee you clients will come begging you to trade for them.

 

[FX4Newbies]

Hi traderjules88,

Glad you joined the forum. See you have already made friends. Not sure what market you trade, but I trade FX at the moment. I believe you said you have been trading for at least 2 years which is a good sign. It takes guts to stay in this business, especially just starting out 🙂. I have a thread here called Goldmine! where I post my thoughts on the EurUsd. I use the Andrews' Pitchfork as my main tool of analysis. Don't know what you use, but it would be nice to get your feedback.

Take care and enjoy the forum!

FX4Newbies

H i Bernie, your thread caught my eye because i have another trader friend in Canada
who has since retired to start up a business his advice to me was to stay out of
the markets but I have chosen to ignore that and go at my own pace. Trading
really interests me although I see it as a long term achievement.

 

[kevinsnelling]

Re: New Registration

Hi, one & all.

I'm a new (re-)registration, having previously been a (mostly inactive) member of T2W's predecessor (so long ago, I can't even remember what it used to be called)

Been trading/investing with varying degrees of success over the last 2 years. Still making some very stupid mistakes that were glaringly obvious in hindsight, and should have been obvious at the time.

Becoming more TA oriented as I've learnt more.

Sharescope user (isn't everyone?)

Basically, have come over here to further my TA education, and to look for other perpectives.

Steve.

WHAT MISTAkES ??!
now steve,as iam a complete beginner i am curious to know just what mistakes it is that a person who has been trading for a year is making and which are obvious with hindsight ? Also I am sure I also speak for many other beginners too!
As for myself as i said I am a complete as yet, non-trading, begiiner at the stage of reading everything I can about forex. Got any tips ?

Kev.

 

[FX4Newbies]

Hello Kevin and zaaxx99 (Steve I think),

Welcome back Kevin and Hello Steve.

There is alot to learn about trading, especially with all the tools available and in the Forex market, a 24/7 opportunity...seemingly so. Trading is a skill that involves the whole person...emotions and all. Many times we focus on the system etc. and have never had the entire process placed in a framework with good, solid guidelines and boundaries of understanding. Traders need to know why they are doing what they are doing, and not just drawing a line because they hope something will pop out at them. You must know what you are after before the TA process begins.

I have a thread here called Goldmine! where I use the Andrews' Pitchfork as my primary tool of analysis. I understand what that tool is designed to do, and use it accordingly. I have several charts posted. If they can help you, great! More importantly though, do you understand yourself as a trader...why you do what you do...are you more suited to scalping than swing trading? Any approach that is attempting to develop you as a trader and does not take all of these factors into account is really doing you a disservice. If you are trying to learn how to trade, and are never developed to be a trader, how will you make it long term? Just my perspective...

Anyway, glad to have you both. Hope I can be of help.

Take care,

FX4Newbies

 

[shakespeare515]

hey shake,

can you post a summary of your live account (black out whatever you need to) for like last few months or something like that, so people can see performance?

Hi Kolka, with all due respect, i understand why you want to see live accounts.. however there is no real validity in a live account statement on the web.. (photoshop does wonders)

Anyway, I put my reputation on the line everyday when I trade live in front of an audience of 100-200 pro forex traders making live trade calls for them. If me and the system i coach in was not profitable we sure would not have this large of a client base and always growing..

Of course you could always join me for a live trading session on the online traderoom and while you are there,you can ask all the traders on the traderoom what they think..

btw.. the link to your live account was broken.. I would like to check yours out and see how you are doing..

..good trades all,
Sam

 

[obinna patrick]

hy am obinna who rececently started trading but lak the knowledge to continue. please i would like to get some ideas from u on how to identify trend and the best indicators to use

 

[obinna patrick]

also what indicators is best for scalping

 

[FXBeliever]

Hi FXBeliever, I am very pleased to make your acquaintance. Are you sure though that you have the right person though. I do not believe I have posted anything of any value yet as I have been just asking questions up till now and still have plenty more where those came from. But since we are talking, tell me something about your trading experience. Perhaps we can help each other also.

Look forward to chatting with you.

Hello Ms Tint, Like yourself I am new to this game, I do believe though that the path to my financial freedom runs "arrow straight" through this market...and that all I need to do is be consistent in my methodology and application...I have found that its only when I break my rules that the apple baskets falls over 🙂 ..So here is hoping we can all learn and grow because I think we all want the same thing..

 

[4xpipcounter]

Re: New Registration

Kev, it is a valid point. This is why it is of utmost importance to take as much time as needed to develop a solid methodology, that becomes your personal methodology that you adore and trade with. This will take time, and I do not mean days, weeks, or even months.
Foresight tells you this is the wya the market is going. Hindsight looks in the rearview mirror, and confirms the notion, and sometimes, says, "Yes, I blew it that time." The markets will keep a balance (I can speak for me personally on this.) of extreme confidence in your methodology (Once it is developed.), and a devout humility in knowing that you are going to be wrong every once in awhile. One of the keys to my success as a trader is in knowing how to balance those extreme emotions. I'm at the point my wife can't even tell what kind of a day I had trading, because my emotional state never changes. Five years ago, even my dog knew something was wrong if I had a bad day.
Let me give you a few suggestions, and believe me, there is no ulterior motive. Action Forex is an excellent free site for beginners. Their forecasters are excellent. They make their money off of advertising, because there is such a high traffic volume on their site by virtue of their outstanding analysis.
I have a thread called "My trades and forecasts" and a blog, "4xpipcounter.blogspot.com". My methodology consists of the amalgamtion of the 200 MA, stochastics, ichimoku cloud, and my proprietary set of supports and resistances.
I have not been in this forum too long, but there is a thread in here I feel comfortable in recommending and that is "Goldmine" The originator of that thread specializes in the pitchfork.
The best site on the internet to learn about trading the Elliot Wave and trendlines and Fibos is www.fxdaily.com.
That should be more than ample to at least start you on your journey. Also, be very skeptical of anyone that wants to sell their wherewithals with all the hype and big promises. There are some paid services that I would recommend, but the free stuff I suggested should be ample to start.
I wish you the very best in your endeavors.

WHAT MISTAkES ??!
now steve,as iam a complete beginner i am curious to know just what mistakes it is that a person who has been trading for a year is making and which are obvious with hindsight ? Also I am sure I also speak for many other beginners too!
As for myself as i said I am a complete as yet, non-trading, begiiner at the stage of reading everything I can about forex. Got any tips ?

Kev.

 

[4xpipcounter]

Patrick, read my post in #4700.

hy am obinna who rececently started trading but lak the knowledge to continue. please i would like to get some ideas from u on how to identify trend and the best indicators to use

 

[4xpipcounter]

Just my opinion, but I don't think anyone can safely say, because trading is personal. The indicators you use and the timeframes you trade from have to be developed to your personal specificities. This will take time in learning about different indicators, following posts of other successful traders and then to amalgamate the entire process to fit a methodology for your personal trading style.

also what indicators is best for scalping

 

[FX4Newbies]

Hello Obinna,

Glad you would like to trade and get it right from the beginning. Correct knowledge in the correct framework, with the right personal mentoring will help you get there and save you much heartache.

To answer your question about determining trend...ask yourself a very basic question..."Is the price making higher highs AND higher lows (uptrend) or is it making lower highs AND lower lows (downtrend)?" Just stare at the chart with nothing on it and answer that question. Once that is done...then you begin your technical analysis (TA).

Indicators are everywhere...my suggestion...you need a tested system and you need to understand which ones are better for what types of analysis.

Lots to learn for sure...I have a thread here called Goldmine! I use the Pitchfork as my primary tool of analysis. Take a look and let me know what you think.

Looking forward to hearing from you,

FX4Newbies


'

hy am obinna who rececently started trading but lak the knowledge to continue. please i would like to get some ideas from u on how to identify trend and the best indicators to use

 

[SausageKingofMexico]

Hello,

Yes, I am the Sausage King of Mexico, Ferris Bueller fans should get it.

I'm new to spread betting and Forex but I have a real desire to make this my new Career.
I'm very interested in any input you may like to send my way. Especially with regard to Broker Services. I am presently eyeballing WorldSpreads, their 1 pip spreads and the ability to go both long and short on the same position are what got my attention.

I am familiar with IG Index but I've not been impressed.

Best of Luck!

 

[diy_]

Hello,

Yes, I am the Sausage King of Mexico, Ferris Bueller fans should get it.

I'm new to spread betting and Forex but I have a real desire to make this my new Career.
I'm very interested in any input you may like to send my way. Especially with regard to Broker Services. I am presently eyeballing WorldSpreads, their 1 pip spreads and the ability to go both long and short on the same position are what got my attention.

I am familiar with IG Index but I've not been impressed.

Best of Luck!

Can I ask why would you want to go long and short at the same time and what was the issue with igindex?

 

[SausageKingofMexico]

Can I ask why would you want to go long and short at the same time and what was the issue with igindex?

You Can't think of a reason to open a position in both directions? Looking back at the logic-less volatility of the last 2-3 years? I've lost on positions before due to momentary bounce back. This is the only defense I've seen, that I like.

IG, lack of Access to my funds, huge spreads.

 

[diy_]

You Can't think of a reason to open a position in both directions? Looking back at the logic-less volatility of the last 2-3 years? I've lost on positions before due to momentary bounce back. This is the only defense I've seen, that I like.

IG, lack of Access to my funds, huge spreads.

Well I was thinking of trying that method out a few days ago but decide to not trade, which was the reason I ask to see if you was thinking along the same lines as me. I worked it out on paper and the gain didnt seems too impressing.

 

[SausageKingofMexico]

Well I was thinking of trying that method out a few days ago but decide to not trade, which was the reason I ask to see if you was thinking along the same lines as me. I worked it out on paper and the gain didnt seems too impressing.

True. If you leave it to run automated on stop loss with profit stop, you'll most likely lose half the potential profits. However on a day with a big news announcement it's the only way I see to get it right. Well short of having a Central Bank Chairman on speed dial.

I guess I also believe that taking 10 pips when 20 pips were possible is still better than a poke in the eye.

 

[Anna1]

Hello everyone. I'm Anna, from Australia 🙂