New(ish) Member Introduction

[SkavenDC]

I just wanted to introduce myself here on Kreslik. My name is Edward. I have actually been a member here for a little while, but this will be a break from my norm. I usually sit in the background, lurking, letting everybody else do all the talking. On these forex forums, I was hoping to sit back, learn something and make some money. This has not happened. I have noticed that the people that seem to be making this work are the ones that are talking. Asking questions and generally talking about whatever system they are trading. So that is what I shall do.

Let me give you my forex back-story. I'll try and keep it brief.

Round 1 - Started with Gain at forex.com. Demoed for awhile, but had only moderate sucess. Thought I would learn as I went live, so I opened a $250 mini account. It's gone. Aside from the fact that I had no true idea what I was doing; the inability to trade less that a full lot killed my account quickly. Took a year off. Lesson learned; money management.

Round 2 - Discovered MT4 (along with the micro and nano lot) and the other brokers. I did alot of reading before I opened a demo account because I also discovered all the forex forums. Wealth of good information. Even bigger wealth of crap information. Got into beta testing a commerial EA for an unnamed person. Having 8 instances of MT4 running on my machine all the time testing and me still losing money burned me out quickly. Although his EA lost $35 of my account I opened, it did make offically what I would term as "a butt load" of trades so I wasn't too sore about that. Whole thing just got to me. Took a year and a half off. Lesson learned; maybe forex was not for me, but theres this crazy guy that keeps getting kicked off of other boards that goes by TRO that I may want to listen to.

Round 3 - Today.

Even though I am not totally convinced that forex isn't a scam, a part of me still believes that I can make money at it. Others have equated forex to gambling, and part of me agrees with that assessment. That being said, I am back. I am back because of what I remembered of Avery. He seems to tell it like it is, and in that I will trust.

So, that is where I have been and where I am. This will probably be my last venture into this. I have a very small (and I do mean small) account left at a fixed-spread bandit. Even with the new rule changes, I will still be able to trade. I do not care about the value of each pip, just the pips themselves. I can always make money later. I will put more money into my account, only after I can prove to myself that I can do this. I have erased all my old, stored forex information and started new. Since BabyPips has taken down the NLA thread, I am reading it on FxFisherman. The real pisser is that I have the entire BP thread as of May of 2009 on a CD, but I can't find it. I have only made visual trades (live, not past history) and have done fairly well. I will demo this until I am comfortable with it. I will also try and keep some sort of journal here to track my trading and present it to the people here with more experience, and if I have any questions, I will ask.

Any questions/comments/criticisms please feel free.

Good Trading
Ed

[bredin]

first, welcome to kreslik where there are many profitable tarders kindly giving their time and expertise.

Read NLA here, especially the bit after MO introduces Z-Lines (page 120 or so), then go on to lukx zline thread.

A mentor told me "The only time you cant afford to fail is the last time you try." if this is truely your last time then dont quit ever or quit now.

G.

[gfg1]

Welcome Edward. I think a fellow member, zapzinig (hopefully right) captured all of the NLA here on kreslik, in a downloadable format. If you do a search for him you should find it. Or maybe, he might read this and repost the links.

I just wanted to introduce myself here on Kreslik. My name is Edward. I have actually been a member here for a little while, but this will be a break from my norm. I usually sit in the background, lurking, letting everybody else do all the talking. On these forex forums, I was hoping to sit back, learn something and make some money. This has not happened. I have noticed that the people that seem to be making this work are the ones that are talking. Asking questions and generally talking about whatever system they are trading. So that is what I shall do.

Let me give you my forex back-story. I'll try and keep it brief.

Round 1 - Started with Gain at forex.com. Demoed for awhile, but had only moderate sucess. Thought I would learn as I went live, so I opened a $250 mini account. It's gone. Aside from the fact that I had no true idea what I was doing; the inability to trade less that a full lot killed my account quickly. Took a year off. Lesson learned; money management.

Round 2 - Discovered MT4 (along with the micro and nano lot) and the other brokers. I did alot of reading before I opened a demo account because I also discovered all the forex forums. Wealth of good information. Even bigger wealth of crap information. Got into beta testing a commerial EA for an unnamed person. Having 8 instances of MT4 running on my machine all the time testing and me still losing money burned me out quickly. Although his EA lost $35 of my account I opened, it did make offically what I would term as "a butt load" of trades so I wasn't too sore about that. Whole thing just got to me. Took a year and a half off. Lesson learned; maybe forex was not for me, but theres this crazy guy that keeps getting kicked off of other boards that goes by TRO that I may want to listen to.

Round 3 - Today.

Even though I am not totally convinced that forex isn't a scam, a part of me still believes that I can make money at it. Others have equated forex to gambling, and part of me agrees with that assessment. That being said, I am back. I am back because of what I remembered of Avery. He seems to tell it like it is, and in that I will trust.

So, that is where I have been and where I am. This will probably be my last venture into this. I have a very small (and I do mean small) account left at a fixed-spread bandit. Even with the new rule changes, I will still be able to trade. I do not care about the value of each pip, just the pips themselves. I can always make money later. I will put more money into my account, only after I can prove to myself that I can do this. I have erased all my old, stored forex information and started new. Since BabyPips has taken down the NLA thread, I am reading it on FxFisherman. The real pisser is that I have the entire BP thread as of May of 2009 on a CD, but I can't find it. I have only made visual trades (live, not past history) and have done fairly well. I will demo this until I am comfortable with it. I will also try and keep some sort of journal here to track my trading and present it to the people here with more experience, and if I have any questions, I will ask.

Any questions/comments/criticisms please feel free.

Good Trading
Ed

[tking]

You will find the link in the first posting on this thread:
http://kreslik.com/forums/viewtopic.php?t=2005

Toad

[TygerKrane]

Forex is not a scam...Fixed Spread Bandits ARE!! LOL

Not everyone learns the same way...so some may improve their skills here by lurking in the background and tinkering around on their own with the concepts during their trading time. Others [s]need[/s] prefer the back-to-back interaction of LOTS of questions. Others do well keeping a journal. (Helping others, also, helps some learn.)

Whatever method reaches your brain best, as long as you stay here, THIS IS THE BEST PLACE TO LEARN. Of course, if you're making money with a moving average crossover, no one is going to hate on you for that!!

I never imagined that keeping a journal would help me, but it is pushing me through the learning curve exponentially faster.

Anyways, all this to say, you can do it!

[TygerKrane]

Of course, if you're making money with a moving average crossover, no one is going to hate on you for that!!

::Couldn't find the post when I did my above reply this morning::

Learning from a lot of people within the net, I want to share some profitable aspects here. As we learned, price action is the key to success. Stats help to find an edge. Moneymanagment preserves capital.

Here my 2 cents - for newbees a system to test on a demo account for getting whats possible and whats not. Strategy is simple and helps to control the greed.

On the EUR/USD pair:
Set the MA_in color TRO modified version to 9. Use the (h) chart.
When it´s red go short on next candle´s open. When it´s blue go long on the next candle´s open, when yellow stay out the market. SL is set to 35. Trailing stop to 22.

Today there were 5 (-175) looser, 16 (352) winner, 3 outside the market. The numbers above do not respect the full range of the trailing stop but solely reflect first target hit with 22 pips. Nice outcome isn´t it?

Greetz Moersche

(By the way, thx TRO for coding all the free indicators, without you I never hat chance to come along. I never understood C. But in stats ?´m not that bad)

You're welcome.

Funny you choose a SQUIGGLY.

But whatever works for YOU is all that matters.

[nkhawaja]

Ok, again no disagreement that the more you read these threads the more you get out of it. I have read NLA and other threads. I had them downloaded earlier too but either I am too hasty that I scroll over, skimming through pages and pages and not able to find anything concise.

Some very simple and ground rules perhaps for the benfits of all, then if one need to dig further, they are welcome to go over these threads.