Help......I am new to forex

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drlmg
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Help......I am new to forex

Postby drlmg » Mon Sep 06, 2010 5:28 pm

Hello,

I am new to Forex trading. I am writing to ask for advice on where I should start my journey in learning quality, pertinent information. I have found an overwhelming amount of what appears to be great material, the problem is it is not feasible to read and watch all the videos and material I have available.


Indicators.... is it just a reflection of my ignorance or is there some merit to this? The indicators I have looked at so far seem to point out up-trends/down-trends AFTER it is readily observable on the charts. Demonstrations show them used on historical charts that are specifically selected to make a good example so of course it appears they are great.


E Signal..... I purchased an account with them and have yet to see much of anything there that is useful. The software requires Windows and it is a browser based, slow, cumbersome, backwards program that looks and acts like something a junior high school student made with some basic program language. That in itself would be fine if there was something there that would help me decide what to buy or sell and when. Is that an unrealistic expectation?


I am not asking for someone to teach me (but anything would be appreciated), I can learn it myself (I think). What I am asking is to be pointed in the right direction by someone who knows and doesn't have a financial interest in the matter (like someone selling a course or book). However, I do not mind paying for something if it will be helpful.... like e Signal, they told me it would be great to use it and I would learn from watching what it advises. So far I have learned much more looking at blogs like this one, gotten much better tips on trading as well.

I prefer something that I can read... I have watched some of the videos and have to run them on 1.5 X to keep from being driven insane..... they seem to go very slow.


I learn quickly, I spent almost 20 years in college through undergraduate, graduate, and post graduate programs so I was forced to develop ways of learning a lot in a short period of time. Before deciding on my chosen profession I seriously considered physics Phd program.... I LOVE numbers, charts, formulas, etc.


I will quit here.... I will ask other things in separate posts.


Thank You,

drlmg

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noushina
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Postby noushina » Mon Sep 06, 2010 10:29 pm

If people start answering you will still end up with info overload. And everyone will be disagreeing with one another.

Well here's my 2 cents.
You want to read? I read Kathy Lien everyday. She usually posts twice http://www.fx360.com/commentary/ It's a nice fundamentals based analysis with some technicals such as fibs, support/resistance and the occasional bounce off of a moving average (MA) thrown in.

Her book is:
Kathy Lien - Day Trading and Swing Trading the Currency Market (2d edition). Book includes some trading strategies.

Want to spend money? Chris Lori stuff from pro-traders club.

Want to read here? This is contra the party line, but I say read the luxz zline thread, maybe even starting at the back and going toward the front. Look especially for any posts by dragon33 (or just run a search for all of his posts). The official party line by the way to read the never lose again thread and then move on to the lukx zline thread.

And also there is the Drain the Banks like a Rat thread.

drlmg
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Postby drlmg » Mon Sep 06, 2010 10:46 pm

Noushina, thank you for your input. I will definitely look at your recommended information.

I take it that there is no "correct" way to trade as long as you don't lose your money. Unfortunately when there is no absolute correct way, that usually necessitates learning about as many as possible then formulating your own method. Why can't things be simple and easy!! I guess if it were then everyone would be doing it and the reward would be extremely minimal.

Thank you again. I will let you know how it goes.

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tmanbone
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Postby tmanbone » Tue Sep 07, 2010 12:49 am

Indicators.... is it just a reflection of my ignorance or is there some merit to this? The indicators I have looked at so far seem to point out up-trends/down-trends AFTER it is readily observable on the charts. Demonstrations show them used on historical charts that are specifically selected to make a good example so of course it appears they are great.


The above statement tells me you are on the right track. Check your PM. 120 miles north, Home Boy. Good luck,
"The simplicity of the markets is it's greatest disguise"

T

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MightyOne
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Postby MightyOne » Tue Sep 07, 2010 1:25 am

Learning to trade is a byproduct of asking as many questions as you can and answering them all by yourself.

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