Sign up for PayPal and start accepting credit card payments instantly.

onsdag 26 augusti 2009

Who should you believe???

Some thoughts about being a noob/newbie/rookie in this wonderful world of Forex...

On every homepage where another "super" EA is sold, they claim to finally have found the key to the market. -"Hurry up, timelimited offer! Never before seen intelligence in an EA"....and so on.
On most forums, people tell stories about them losing money with these "super" EA's.
Also, from many forums - most brokers seem to be either corrupt, scammers, working against you, or a combination of all. Indicators come and go in regular intervals. Some are better than others, but how can you know?? Back to the forums again, do your homework, trying to get some decent info.
"This EA/indicator sucks!!", -"Have never made so much money before, highly recommended!"..

At the same time, the "manual" traders, talks about money management, risk, trading plans and so on. -"Rule #1, have a trading plan - and stick to it!!", -"If you have a solid money management plan, you cannot lose. EA's/indicators doesn't lose money, poor money management does!". -"All you need is raw data candles, pivots, some MA's, macd and a cup of coffee...".

Confusing, right??

Question comes up - how can you write and follow a trading plan or a workflow when you even haven't started to get some insight/knowledge about how this whole thing works??? It's like asking a caveman to explain how to land an aircraft! Impossible!

So, where to begin then? Well, babies learn to walk by repeatedly trying and trying, they fall a lot, tries again, might even get some help from eager parents, and suddenly one day - simsalabim! Code cracked, and the baby thinks -"this was so easy, how come i didn't realize that before??".

I think we all have to realize that there is only one way to go here - we will lose money sooner or later, probably sooner if you are new to this. I don't know about you guys, but asking someone to demo for months and months, just to find "your way" and be sure you have a somewhat realistic system, just doesn't work. People are here for one reason mostly, they want to make money.
Buddha said -"Ambition is like love, impatient both of delays and rivals". Once you went through a couple of guru-video tutorials, a number of candlestick books, some mental hokus-pokus guidance, you want to get out there! -"This was not difficult, i can do it!".

Now comes the exciting part. Either you belong to a very small group of people who actually have cracked the forex trading code, or, you are going to lose and win on a regular basis. Im not saying that you will never lose if you cracked the code, but even in hell there are different levels of professionalism ;)
We have to remember that this is a business. Professional people that has been trading for 20 years make a living out of this! I don't know what your work is, but i doubt that anyone could come in from the street, read a few books, and then take over your work??!! Of course not!
This is just as serious as any other work, it takes time to get into the comfort/knowledge zone.

Reading forums is a good way of getting info. But, no matter which forum you read, which ever work you have, forums tend to be clattered with either noobs or whiners. Noobs trying to get info, whiners trying to blame all and everything for their own failure. So, where are the pros?? The ones that actually have some really good info to share?
Well, with very few exceptions (i believe Donnaforex and FPA is two of them) you wont find pros on a noob/whiner forum. To put it simple - why should they write there?? They already have a good system, it works, they don't need more info, they are just happy and confident with their own trial and error system they found suitable for themselves. Me, as a professional pilot, don't read forums about people trying to get their first PPL (Private Pilot Licence) for flying around in a Cessna or Piper. I've been there, done that many years ago, and it simply enough doesn't interest me anymore. Got my point?

So where do we go from here? I believe there is just one way to go - continue to educate ourselves, and also get out there! No matter how small amount of real money you are dealing with, it "feels" different than playing around with demo money. Demo is good to a certain extent, but don't get stuck in there. You have to go out in the real world at some point anyway, right?
Read all you can, look over all info with critical eyes and start trading! You will lose, for sure, but you will also win! This is like any other stuff you want to learn, it takes time, failure and devotion. Two steps ahead, one step back, and so on. Learning in a nutshell.

And, because i still haven't cracked the forex code, i still claim that Robominer is the one and only reason that my accounts still looks somewhat decent. Love this robot. Believe me or not.

Brgds/Pilotlife

Inga kommentarer:

Skicka en kommentar