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Old 03-11-2007, 03:52 PM
biggles's Avatar
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Exclamation Help for new trader

I have Demo traded Forex for about 7 months with some interesting results and have now set up real account with £2000 GBP.I Have developed a few of my own ideas but cant really afford to buy any additional trending indicators to add to my trading.Any info on free trading software - or good indicating software would be of great help.
Regards all
biggles
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Old 03-11-2007, 06:58 PM
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My hunch is you might simply be expending unneccesary energy by hunting for a trending indicator, instead I would suggest studying Price as your main indicator because taking the time to do that will be one of the best investments of your time. If you've developed some of your own ideas after just 7 months and by "interesting" results you mean positive results then stick with what you've got and look no further. I think alot of us traders look outside ourselves at other traders for answers for months if not years when we first start out and at the end of the day we find that the best teacher has been ourselves and our own observations. It sounds like you have taught yourself, and if so bravo. My only suggestion would be to start with very low leverage when going from a demo account to a live account until you feel that you've got your emotional bearings using real money. Raising your monetary leverage incrementally allows you to raise your emotional tolerance incrementally when using real money when you go from a demo to live so one helps the other. Slow and steady usually wins out over trying to reach a trading monetary goal quickly so think of your trading as a business and go slow and steady and your respect for the market and your own trading will be increased. You sound like someone who has it together and only time will tell how you do after going live. Have a great week trading.


Quote:
Originally Posted by biggles
I have Demo traded Forex for about 7 months with some interesting results and have now set up real account with £2000 GBP.I Have developed a few of my own ideas but cant really afford to buy any additional trending indicators to add to my trading.Any info on free trading software - or good indicating software would be of great help.
Regards all
biggles

Last edited by goldensight; 03-11-2007 at 07:04 PM.
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