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Advice i would give to site new comers

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  • Advice i would give to site new comers

    How I see this Site:
    An opportunity to learn about Forex and several of so many ways it can be used to gain or loose money.
    the site has Mentors and others who have an extreme wide range of abilities trading.
    It also has a training side; a bank of tutorials to learn from:
    a list of past tutoring sessions being live looks at the market and thoughts on it at that time and often repeating of trading plans the mentors use themselves. these also consist of Mark or Andrews Targeted tutorials on a particular topic.
    A person here on this site has to WANT to learn. going through all the tutorials / previous sessions - hours and hours of them.
    People learn in different ways. I will give MY way. there are others.
    Open demo accounts with various brokers. i have 2 brokers and have demo and live accounts with each.
    I prefer one particular style of trading so use one live acct for that.
    another live account i use for one other style of trading - momentum style.
    if i want to try any other style i practice on a demo account which i use for - i wonder what would happen if i did this ???? or poor lesser confident trades.
    I only trade on the very best ideas. other ideas are play and only use on demo for - what if.

    It is essential to have a CLEAR set of instructions for my trading. this means a 10 year old could follow then WITHOUT any problem.
    short simple statements / instructions. eg there is an up trend of 2 cycles. A cycle is a higher high a higher low a second higher high a second higher low.
    Bloody simple. really simple statements.

    If you have no idea at all. look through the previous live TV Forex sessions and find the various techniques; scalping; momentum or trend trading over 1 hour 1 day or 1 month.
    if you have absolutely no idea a useful one to try is Andrews style of momentum trade in a demo acct to get use to trading. it is simple and may be quantified.
    check with Andrew he is generous with his time and advice. below is my observations of his style and possibly flawed.
    To the best of my limited understanding Andrew has a set of rules which he set up and tested/backtested . He has then written down and has this 25 times repeated test.
    He seems to use these ideas :
    He uses levels of support / resistance
    He uses 50% pullback in MOMENTUM trades : that is; in a trend with price under the MA's fanning out in numerical order.
    He uses the strength meter as a guide
    He has not mentioned the concept of optimal or ideal chart structure - a TWP concept
    He uses 50% pull back and a 161.8 fib as potential destination - similar to others
    He has mentioned the reviewing of chart structure to the left price action history for levels of support and resistance
    He has said Daily chart structure is important
    He seems to view the 4 Hour then the 1 Hour time frame

    This is the sort of thing i would like to read if i was beginning from scratch - the very start

  • #2
    Hi wizardAlvin, I joined this group about a month ago, and I'm an experienced trader. What you've put together here is great advice/suggestions for any newcomer to Forex Signals. I hope Andrew & Mark use it. I also agree with Mark when he said the other day that we could do with some moderators in the room especially when they are running live sessions.

    Anyway just thought I'd give you a thumbs up for your contribution.

    Cheers

    trade2travel

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    • #3
      Who uses these signals and how have you done long term?

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      • #4
        Hi wizardAlvin, please attach an image too..it's more easy to understand your explaination about an opportunity to learn about Forex and several of so many ways it can be used to gain or loose money.

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