1) Forex can be highly profitable if you use COMPOUNDING to your advantage. If you can net 3 pips a day on your account ( about 3% if you have 100:1 leverage), you are on the path to riches. The problem starts when you try to go after the 100 pip gains. It's the tortoise / hair story!!

2) DO NOT CONCERN YOURSELF WITH OTHERS - FOCUS ON YOUR ACCOUNT, YOUR TRADES, YOUR SYSTEM, ETC... What others are doing is only a distraction at best.

You don't need a bunch of indicators to trade. ( I know this sounds funny coming from someone who has programmed hundreds of indicators ). But it's true!! Forget about all those SQUIGGLY LINES!!

All you need is the H1 candle chart and/or D1 candle chart. If the candle is green, trade long. If the candle is red, trade short. It really is THAT SIMPLE!! Just learn to be happy with making 3 - 5 pips. Oh yeah, you'll have to use an ECN type broker rather than a fixed spread broker.

So read through the BabyPips course a few times then start with a demo account so you learn the platform. After you are comfortable with the platform, fund the account and begin trading 1 minilot. When you make enough to buy another minilot, then and only then, should you increase your lot size.

WELCOME TO THE JUNGLE!

hmm 3 pips a day at 3% a day.. well that means the stoploss would have to be -3 to keep with MM rules. And that is smaller than most spreads.

I agree 100's of pips are not the only way, but as a trader who takes 30 per day from short term and 1000 + pips per week from longer term, i think there are many ways to trade the markets, but it is simply down to which way suits your trading personallity, style and time requirments..

Also i dont think "TheRumpledOne" made it clear that those were his views only, not THE views. There is more than one way to cook an egg. And things like stochastics etc help. Indicators are not used for no reason. So be sure to check out all possible courses of action, as there are so many. And other pro traders like myself would not dream of simply trading long on a green candle ans short on a red. There are many other factors that can move the market so my advice would be. a) be carefull who you listen to. b) Invest in education before the markets. 95% of people FAIL. That is no matter of opinion, thats a fact.

yeh probably best to not reply, you already look pretty stupid. Advice to new traders, ignor therumpledone. he has no clue.

enjoy and trade well

see you in a year

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Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !

As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence -- BUT I KNOW WHERE THEY HID THE KEY !!

Very true!

The financial world of forex is very risky.. So better to be very careful on that!

and yeah, be discipline! A method without a discipline doesn't make any sense..

Opps...... person started this thread on 10-17-2006, and he posted only one post. and then left forum.

found this thread again after 2 years !
Where's the man who created this thread ?

long life forex-tsd

LEARNING is one step to enter this jungle

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Forex Indicators Collection

hi guys , i wanna to learn more about forex , can anybody tell me the steps to be a forex trader ?
how to start ? and where ? ( without baying money at first untell i will be able to trade as a trader )
thnx

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..4.Nov.08.. IN10TION newsReader v09.85 Lite - the best news reader on your chart

learn the basic of forex first , what's forex , what's the trend etc the tool you need you can download Meta trader4 platform like IN10TION said .

You can find many free ebook on the net

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Forex Indicators Collection