Newbie on Overload

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stan3188
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Newbie on Overload

Postby stan3188 » Sat May 08, 2010 8:53 pm

I'm sure many of you experienced traders have been in the same situation.
You're new to trading, spent lots of time reading the forums/web, read up on lots of successful trading approaches, download a fistfull of indicators, flick from one thing to another as you read about something new that looks easy and successful!!!! Support/resistance, Gartley, Elliot Wave etc.......... :?

I'm lost. I've reached the point where I can't find (or stick) with a trading strategy.

Anyone been in the same situation and emerged from the other side ??

If so, how ? I've been reading and paper-trading for the last 14 months, but with mixed success. :shock:
I need a pointer and some guidance on how to pull all the stuff I've learnt into a single strategy.

I'm UK based and work, so my trading is constrainted to outside office hours.

Any suggestions or sound advice ? :?:

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es/pip
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Re: Newbie on Overload

Postby es/pip » Sat May 08, 2010 9:12 pm

stan3188 wrote:
If so, how ? I've been reading and paper-trading for the last 14 months, but with mixed success. :shock:

I need a pointer and some guidance on how to pull all the stuff I've learnt into a single strategy.

I'm UK based and work, so my trading is constrainted to outside office hours.

Any suggestions or sound advice ?
:?:



If so, how ? I've been reading and paper-trading for the last 14 months, but with mixed success. :shock:


reading on this site or other sites?

Any suggestions or sound advice ?


1. take the indicators off your charts

2. read the Never Lose Again thread on this site

3. then read the Zline thread on this site
Bend over and assume the position for another 4 years of hope and change.

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TygerKrane
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Re: Newbie on Overload

Postby TygerKrane » Sun May 09, 2010 6:19 am

stan3188 wrote:I'm sure many of you experienced traders have been in the same situation.
You're new to trading, spent lots of time reading the forums/web, read up on lots of successful trading approaches, download a fistfull of indicators, flick from one thing to another as you read about something new that looks easy and successful!!!! Support/resistance, Gartley, Elliot Wave etc.......... :?

I'm lost. I've reached the point where I can't find (or stick) with a trading strategy.

Anyone been in the same situation and emerged from the other side ??

If so, how ? I've been reading and paper-trading for the last 14 months, but with mixed success. :shock:
I need a pointer and some guidance on how to pull all the stuff I've learnt into a single strategy.

I'm UK based and work, so my trading is constrainted to outside office hours.

Any suggestions or sound advice ? :?:


Elliot Wave..sounded simple?? Either you are genius or had a really good teacher, lol :lol: I read one article and was instantly turned off.

I preferred looking for Wolfe Waves over Garttley Waves back then...

but that doesn't answer your question. I was just having some fun with you.

But forex is definitely great if you are on constrained hours.

To your question, can't give you trading system advice, but proper money management and avoiding overtrading are very important. Many systems can be profitable if these two principles are well understood and followed through with. When I first started forex, I thought I understood money management well because I had experience with stocks and options. Turns out, I didn't know nearly as much as I thought. Furthermore, as I learned about these two things, I learned that I probably DID have workable systems, but since I didn't know "proper" money management, and overtrading rules were non-existent for me, I played a very big role in my own previous failures.

But you are definitely at the right place to learn, so hang in there.

One of my favorite quotes from this site:

"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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MightyOne
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Re: Newbie on Overload

Postby MightyOne » Sun May 09, 2010 6:35 am

stan3188 wrote:I'm sure many of you experienced traders have been in the same situation.
You're new to trading, spent lots of time reading the forums/web, read up on lots of successful trading approaches, download a fistfull of indicators, flick from one thing to another as you read about something new that looks easy and successful!!!! Support/resistance, Gartley, Elliot Wave etc.......... :?

I'm lost. I've reached the point where I can't find (or stick) with a trading strategy.

Anyone been in the same situation and emerged from the other side ??

If so, how ? I've been reading and paper-trading for the last 14 months, but with mixed success. :shock:
I need a pointer and some guidance on how to pull all the stuff I've learnt into a single strategy.

I'm UK based and work, so my trading is constrainted to outside office hours.

Any suggestions or sound advice ? :?:



Once you learn to see loss then you have learned to see profit :shock:

You should read Dragon33's posts as he is a god of profit stealing.

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dragon33
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Re: Newbie on Overload

Postby dragon33 » Tue May 11, 2010 4:01 pm

MightyOne wrote:
stan3188 wrote:I'm sure many of you experienced traders have been in the same situation.
You're new to trading, spent lots of time reading the forums/web, read up on lots of successful trading approaches, download a fistfull of indicators, flick from one thing to another as you read about something new that looks easy and successful!!!! Support/resistance, Gartley, Elliot Wave etc.......... :?

I'm lost. I've reached the point where I can't find (or stick) with a trading strategy.

Anyone been in the same situation and emerged from the other side ??

If so, how ? I've been reading and paper-trading for the last 14 months, but with mixed success. :shock:
I need a pointer and some guidance on how to pull all the stuff I've learnt into a single strategy.

I'm UK based and work, so my trading is constrainted to outside office hours.

Any suggestions or sound advice ? :?:



Once you learn to see loss then you have learned to see profit :shock:

You should read Dragon33's posts as he is a god of profit stealing.


I like "profit stealing" :lol:
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

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Postby TheRumpledOne » Thu May 13, 2010 10:29 am

Dang it, Dragon, I wish you would come to Monaco.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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TheRumpledOne
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Postby TheRumpledOne » Thu May 13, 2010 10:30 am

And you, too, MightyOne!!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

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