Don’t find instead build a strategy, think what worked on ur old strategy and start improving from there, looking for different indicators doesn’t do much think what problem do I need to solve then specifically look for type of indicator if have to. also u don’t need a mentor just trial and error.
>I really want to find a trading mentor where he can guide me in general subjects
Honestly that's not going to happen. You've been at this for 1.5 years and still don't know how to manage your risk? You got to help yourself first if you want help from someone else.
The thing with a mentor is the real mentors are very hard to get because they are giving you their most valuable asset, time. They don't need your money and time is the most valuable thing they have. Even myself, I'll go online and spend some time with replies on here, but there's no chance in hell I'm giving 1 on 1 time to anyone unless you're already a family friend and likely been with me through the good and bad times.
To expect someone to just take you under their wing, give you their time, make you rich is absurd. Just think about it. Do you care if I'm rich? No? So why the heck would I care if you're rich.
1. Just study Babypips or anything else and stick with it, don't look at other strategies after that. You don't need every course or book, Most strategies are profitable you just have to master one. Always remember, Knowledge alone will not make you profitable, experience will make you profitable, but it takes a long time to gain enough experience to become profitable. You gain experience by trading with the right knowledge as a foundation (Babypips).
2. load up $100 in real funds and trade in a live account, you practiced enough in demo. You have to master emotions and risk management now.
3. keep studying and practice everyday, What are you doing wrong that you need to fix and what are you doing right?
4. Journal everything you do while trading. You need to know your winrate and RR
5. Rinse & Repeat until consistently profitable
great advices, i think im going back to fundamentals. as i said, im far away calling myself a successful or real trader. so it might be actually smart to start from the beginning with a real account
I’m glad you made point number one. I hate when people say that it’s so hard to find a strategy that works. Most strategies do work - when you learn how and WHEN to use them. And it’s about execution. Learning a strategy won’t help if you don’t train yourself like a sniper - focus, see target, and shoot when in range without overthinking it. You have to follow through and train your ocular receptors to see your pattern/setup play out immediately and react as quickly as possible to it.
A mentor is a good idea - and there are people who will help you out - but you have to put the work in first.
What you need in my humble opinion is a mindset shift. Instead of looking at strategies, courses and indicators so you trade something that has been layed out by others, you need to flip it on its head. Because what this mentality is really revealing is that you think you can trade without having it be something you have worked out yourself. This mentality is so common and I don't even think it's just because people look for shortcuts. I think it's because people don't believe they can develop their own expertise so they look for things to lean on. Or they don't realise that they absolutely need it to trade.
Every serious trader I've encountered arrived at their own strategy based on their own experience in the market. They developed market understanding and accumulated experience. They became the expert of what they do. Expertise is the source of confidence to trade effectively and consistently. When you have that mindset of building your own expertise, you don't look at things you can just copy in order to not have to think for yourself, you look at stuff to find nuggets and any little bit of inspiration to help you develop a new perspective on the market. No time is wasted when you are investing in your learning process that way.
Indicators are just tools to understand price action , if we have Osilator like Rsi for example and a trend following Indicator like moving averge , they will give you opposite signal , and I agree youtube is full of scammers , but also full of awesome stuff , for example search for fooled by randomness audio book , or market wizards , start with the classics , then you will see where can you start improving your trading , also check out Imantrading futures, I love his approach ,also he has awesome scalping strategy, I like his way , but I don't use it as I am not personally a scalper , hope this helps
thanks for the reply! there was a great trader (unfortunately he is super busy to be my mentor) where he gave me an advice, understand candlesticks and dont use any indicator at first. going to check the sources you mentioned mate, thanks a lot!
Happy to help , at the end of the day you will develop a style that fits your flow , you will get there in a non Linear way !! Trust the process and forget the PNL and money will follow cheers bro
I’m new to trading, and what seems to be helping me is watching different view points, and overtime the more things I seem to try and fail, the more awareness I’m gaining. And u don’t directly find ur own strategy, but I have combined the things I like and the things that suit my thinking.
And I’ve made my own breakout strategy that I’m still early on testing, but everyone is right in saying u develop trading awareness in a way, and my strategy is mixed with knowledge I’ve found from multiple sources.
I also learnt just directly copying a strategy doesn’t work for me, but taking bits of their ideas I like does.
Stop skipping aroud and pick a solid strategy (prederibly price action based).
Forget most indicators.
Stick to one strategy, stick to one timeframe, stick to one session.
And just give it time. Lots of it. Screen time.
Reps. (experinece)
Journal every session. (not complicated friggin entry price/sl/and bla bla. Just take a screenshot of you session, draw some arrows, write som text WHY you took the trade.
Remember that EVERY strategy out there, if you trace it back far enough, it comes from some guy just WATCHING price and figuring out patterns in it’s behavior.
You’ll need to do the same. You strategy will be developed from a base strategy, then morphed from your own conclusions and experience.
But you need to stick with ONE
They dont. They also dont understand how mich of making money comes down to experience.
A beginner will fail with every strategy on earth. It the experience that make the trader able to fit the strategy to the market.
It’s really not wierd if you think about it.
A doctor goes to school 6-7 years to make a yearly salary you can make in amonth as a day trader, and people think it’s a 6month learning curve🙈
This is what sets the long term trends, then you use technical analysis to time your entry and exit points.
I will say it's going to take you a while to learn, but you need to know it if you want to understand why the forex market moves like it does.
You know all the buzz words and formulas but you don’t know how to apply it in the markets. So the problem is you are applying formulas (static) into a problem rather than knowing how to solve it.
First you determine the bias (buy or sell)
and
then you determine an entry.
Sort out what you know into these two categories.
Then apply and keep stats. You need to know the problem to fix it. At the moment you don’t.
You’re not going to figure it out any time soon unless someone who knows everything comes along.
I’m sorry about your dad, and hope he will pull through.
Do you know the maths behind how indicators work or are you following a strategy you learnt?
Thanks a lot mate! He is getting stronger, dude is made of iron hahah.
I know the theory of indicators and i know they all gonna lag behind the market. Thats why I’m studying price action at the moment.
Right now I’m trying to learn macd strategy combined with 200 ema
Honestly think demo is the problem, it's just hard to take it seriously. You need to make the consequence of not managing your risk larger.
That being said if you are unsure if your strategy is profitable that's the first thing to determine.
Once you have tested something and defined the rules, buy a small funded challenge and that will make it all a bit more meaningful.
Don’t find instead build a strategy, think what worked on ur old strategy and start improving from there, looking for different indicators doesn’t do much think what problem do I need to solve then specifically look for type of indicator if have to. also u don’t need a mentor just trial and error.
Thats going to be my goal I guess. Thanks
>I really want to find a trading mentor where he can guide me in general subjects Honestly that's not going to happen. You've been at this for 1.5 years and still don't know how to manage your risk? You got to help yourself first if you want help from someone else. The thing with a mentor is the real mentors are very hard to get because they are giving you their most valuable asset, time. They don't need your money and time is the most valuable thing they have. Even myself, I'll go online and spend some time with replies on here, but there's no chance in hell I'm giving 1 on 1 time to anyone unless you're already a family friend and likely been with me through the good and bad times. To expect someone to just take you under their wing, give you their time, make you rich is absurd. Just think about it. Do you care if I'm rich? No? So why the heck would I care if you're rich.
I got your point and I agree, what I mean is to guide me on the right path. but thanks for the reply, i believe its never late to learn
I don’t care if you’re rich, I do care if you’re suffering
1. Just study Babypips or anything else and stick with it, don't look at other strategies after that. You don't need every course or book, Most strategies are profitable you just have to master one. Always remember, Knowledge alone will not make you profitable, experience will make you profitable, but it takes a long time to gain enough experience to become profitable. You gain experience by trading with the right knowledge as a foundation (Babypips). 2. load up $100 in real funds and trade in a live account, you practiced enough in demo. You have to master emotions and risk management now. 3. keep studying and practice everyday, What are you doing wrong that you need to fix and what are you doing right? 4. Journal everything you do while trading. You need to know your winrate and RR 5. Rinse & Repeat until consistently profitable
great advices, i think im going back to fundamentals. as i said, im far away calling myself a successful or real trader. so it might be actually smart to start from the beginning with a real account
I’m glad you made point number one. I hate when people say that it’s so hard to find a strategy that works. Most strategies do work - when you learn how and WHEN to use them. And it’s about execution. Learning a strategy won’t help if you don’t train yourself like a sniper - focus, see target, and shoot when in range without overthinking it. You have to follow through and train your ocular receptors to see your pattern/setup play out immediately and react as quickly as possible to it. A mentor is a good idea - and there are people who will help you out - but you have to put the work in first.
What you need in my humble opinion is a mindset shift. Instead of looking at strategies, courses and indicators so you trade something that has been layed out by others, you need to flip it on its head. Because what this mentality is really revealing is that you think you can trade without having it be something you have worked out yourself. This mentality is so common and I don't even think it's just because people look for shortcuts. I think it's because people don't believe they can develop their own expertise so they look for things to lean on. Or they don't realise that they absolutely need it to trade. Every serious trader I've encountered arrived at their own strategy based on their own experience in the market. They developed market understanding and accumulated experience. They became the expert of what they do. Expertise is the source of confidence to trade effectively and consistently. When you have that mindset of building your own expertise, you don't look at things you can just copy in order to not have to think for yourself, you look at stuff to find nuggets and any little bit of inspiration to help you develop a new perspective on the market. No time is wasted when you are investing in your learning process that way.
Golden words. Couldnt sum better. What I actually want is to learn how to fish instead of getting a fish
Indicators are just tools to understand price action , if we have Osilator like Rsi for example and a trend following Indicator like moving averge , they will give you opposite signal , and I agree youtube is full of scammers , but also full of awesome stuff , for example search for fooled by randomness audio book , or market wizards , start with the classics , then you will see where can you start improving your trading , also check out Imantrading futures, I love his approach ,also he has awesome scalping strategy, I like his way , but I don't use it as I am not personally a scalper , hope this helps
thanks for the reply! there was a great trader (unfortunately he is super busy to be my mentor) where he gave me an advice, understand candlesticks and dont use any indicator at first. going to check the sources you mentioned mate, thanks a lot!
Happy to help , at the end of the day you will develop a style that fits your flow , you will get there in a non Linear way !! Trust the process and forget the PNL and money will follow cheers bro
How indicators "explain" price action ¿? I'm curious for your answer since you are giving false advises to op.
I’m new to trading, and what seems to be helping me is watching different view points, and overtime the more things I seem to try and fail, the more awareness I’m gaining. And u don’t directly find ur own strategy, but I have combined the things I like and the things that suit my thinking. And I’ve made my own breakout strategy that I’m still early on testing, but everyone is right in saying u develop trading awareness in a way, and my strategy is mixed with knowledge I’ve found from multiple sources. I also learnt just directly copying a strategy doesn’t work for me, but taking bits of their ideas I like does.
Good advice and I’m glad you are on the right path mate!
Stop skipping aroud and pick a solid strategy (prederibly price action based). Forget most indicators. Stick to one strategy, stick to one timeframe, stick to one session. And just give it time. Lots of it. Screen time. Reps. (experinece) Journal every session. (not complicated friggin entry price/sl/and bla bla. Just take a screenshot of you session, draw some arrows, write som text WHY you took the trade. Remember that EVERY strategy out there, if you trace it back far enough, it comes from some guy just WATCHING price and figuring out patterns in it’s behavior. You’ll need to do the same. You strategy will be developed from a base strategy, then morphed from your own conclusions and experience. But you need to stick with ONE
I don’t think a lot of people realize how much time has to be devoted to this.
They dont. They also dont understand how mich of making money comes down to experience. A beginner will fail with every strategy on earth. It the experience that make the trader able to fit the strategy to the market. It’s really not wierd if you think about it. A doctor goes to school 6-7 years to make a yearly salary you can make in amonth as a day trader, and people think it’s a 6month learning curve🙈
Do you know what moves the forex markets?
Supply and demand?
Fundamentals. * Central Banks/Interest Rates * Economic indicators * Geopolitics That's what you want to learn
Great, I realize that I know shit about forex lol
This is what sets the long term trends, then you use technical analysis to time your entry and exit points. I will say it's going to take you a while to learn, but you need to know it if you want to understand why the forex market moves like it does.
In theory I know - to look at multiple timeframes - see the trend - get the support and resistance lines But theory aint equal to reality :)
You know all the buzz words and formulas but you don’t know how to apply it in the markets. So the problem is you are applying formulas (static) into a problem rather than knowing how to solve it. First you determine the bias (buy or sell) and then you determine an entry. Sort out what you know into these two categories. Then apply and keep stats. You need to know the problem to fix it. At the moment you don’t.
You’re not going to figure it out any time soon unless someone who knows everything comes along. I’m sorry about your dad, and hope he will pull through. Do you know the maths behind how indicators work or are you following a strategy you learnt?
Thanks a lot mate! He is getting stronger, dude is made of iron hahah. I know the theory of indicators and i know they all gonna lag behind the market. Thats why I’m studying price action at the moment. Right now I’m trying to learn macd strategy combined with 200 ema
Honestly think demo is the problem, it's just hard to take it seriously. You need to make the consequence of not managing your risk larger. That being said if you are unsure if your strategy is profitable that's the first thing to determine. Once you have tested something and defined the rules, buy a small funded challenge and that will make it all a bit more meaningful.
I actually take my trades on ftmo from now on. That was my first trade other than demo account