Friday, August 27, 2010

With over 5 years of experience in forex, what should I do differently?

Five years ago, when I heard the word Forex meant nothing to me. In fact, when I Google I typed in "4X" typed. I have often been asked what I would do differently to get where I am now in the past.

Although I thought I had read a lot and knew a considerable part of the first thing I did was go buy a trading system that is $ 3,000 thinking that the system has a purpose and that is the cost to provide a good return on investments. After 7 days, and feelingthe teacher in online seminars in the following days, I decided it was not for me and gave back. Good for me, the company ceased trading. First lesson, not much money in the beginning, no matter what.

I decided to do more research and eventually bought the idea of a former broker Citibank has created over 20 years. The system was legitimate, based on the Fibonacci levels and seemed. But after months of trying to make it work for me, I realized that this was perhaps notit seems, but rather a system that had a little logic behind it. Second lesson, do not buy credibility someone buy something that works.

My next stop was the price movement. the price action has some validity, and I think, vendors, studied it work. Most, however, have adapted to their own understanding price action together, as the price action can be almost endless definitions and have many things that are included with most systems. Price action has taught me some basics, but was not thebest system for trading. Third lesson is not to throw away certain aspects of the commercial advantage of technology, everything.

Then I followed Elliott Wave. The only thing I can say about Elliott Wave is that after a year of reading books, with one participant at a top publication Elliott Wave when Were Continuously updates available online, participate in forums and in relation to the top EW experts is that confusion reigned. Not with me but with all parties trying to read the same tableand they all have different opinions. Fourth lesson is to handle some things more than the actual business, they leave you alone.

My first major was given the subjective nature of all the methods I had learned. It was not until I found a signal Objective trading, I started to make progress (and thus the development of CSR PRO Forex Trading System).

I have the year I spent in classes online from a "top" schools in the country and included the ForexHundreds of pounds, hours and online trading real.

To become a Forex trader takes time. It takes time to learn, but we also need time to absorb information and then learn what works and what does not. The best I can tell you is that it and all take different paths. Learning to learn from some of my experiences of your own, and eventually you will succeed.

No comments:

Post a Comment