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[guruweb]

I m a newbie to the technical forex trading not to the forex.I read through the ebook written by realtime forex about the basics of technicals.I went through almost all of the technical charts,indicators.Now I know some wht about them.Now i want ur advice wht to do next & How to learn to appply technical knowledge in forex.

[Cobrita]

Originally Posted by guruweb

I m a newbie to the technical forex trading not to the forex.I read through the ebook written by realtime forex about the basics of technicals.I went through almost all of the technical charts,indicators.Now I know some wht about them.Now i want ur advice wht to do next & How to learn to appply technical knowledge in forex.

When i started trading, i did a good choice, i signed up on Marketiva, they give me $5 real money and $10000 virtual money.
I started trading with the virtual money and they have a support where you can ask about techinical and any help you need.
Now im trading with the real money, you trade with lots of 0,01 cent .

[razergold]

Originally Posted by Cobrita

When i started trading, i did a good choice, i signed up on Marketiva, they give me $5 real money and $10000 virtual money.
I started trading with the virtual money and they have a support where you can ask about techinical and any help you need.
Now im trading with the real money, you trade with lots of 0,01 cent .

Yes, I like Marketiva very much as the platform is easy to use and nice outlook.

Support is very fast whereby you can get questions answered in few seconds.

Highly recommended. Deposits from egold/ebullion are instant and withdrawal also very fast. So no need to afraid you got margin call. Once you notice your available margin is out, then can immediately deposit and credited to your account instantly. No worry on it.

[guruweb]

I am also enrolled with marketiva & trading with them.I also like their services.But my main point is learn how to apply the technicals indicators for entering or exiting out of the market.

[ampris2000]

it all depends on which indicators you are using

[razergold]

Originally Posted by guruweb

I am also enrolled with marketiva & trading with them.I also like their services.But my main point is learn how to apply the technicals indicators for entering or exiting out of the market.

You can right click on the chart and look for indicator and then choose which indicators you intend to apply. Try to google it arround and which one are more 'good' to give indicator when to buy and when to sell. haha

[Cobrita]

Originally Posted by guruweb

I am also enrolled with marketiva & trading with them.I also like their services.But my main point is learn how to apply the technicals indicators for entering or exiting out of the market.

Yes, try searching on google "technical analysis" The firsts links should help you .

[TRADE]

If you want my advice, which is also my opinion through experience then do not waste any more time with technical analysis, especially the use of technical studies in trading.

ok, so you know about technical analysis, which is good and only beneficial, but I hope you are aware that this will only be contributing about 20% to your overall success, if/when you succeed. the remaining 80% required will come from your money management and psychological state.

this has all been said before and a search on these forums will return huge threads where these topics have been debated to the ground.

I suggest you focus your time on trading the maths and understanding price action. when i say the maths I mean fully understanding leverage, risk and reward, spend the vast majority of your time from know putting the same effort in to these topics as you did TA. A lot of people think they understand it, but really they dont. if you have spent 80% of your time understanding technicals and 20% of it (notice the 80/20 split) learning money management and psychology, then you can safetly admit, you dont understand them. only you can answer this honestly.

regards

[TRADE]

oh and one more thing.

the path you choose today will determine where you will end up tomorrow, you will never know where these paths lead before hand just that when you get there you will have arrived. when you look back it will all be clearer because you have hindsight.

this statement can have meaning pertinent to the markets and to oneself in life,

when you have experience the answers come a lot easier and your understanding will be much more greater and apparent, this is the reasoning behind my opinion in the post above. hence why I'm telling you dont waste too much of your time with technical studies and TA. But ultimately this is the choice and learning (as all the rest of us) you will have to take.

[fxtrader777]

Originally Posted by guruweb

I m a newbie to the technical forex trading not to the forex.I read through the ebook written by realtime forex about the basics of technicals.I went through almost all of the technical charts,indicators.Now I know some wht about them.Now i want ur advice wht to do next & How to learn to appply technical knowledge in forex.

Learn money management and position sizing

http://fxtrader777.com/forums/index....ype=post&id=31

download this and read it carefully

[rezo_s]

Hi Guru, and everyone!

Originally Posted by guruweb

I m a newbie to the technical forex trading not to the forex.

If so, I suppose you are aware of the psychological side of trading and money/risk management, and your question is about technical analysis? If you are not well familiar with money/risk management and psychology, then its a must - even before learning to analyze charts/studies.
How can you be sure that you are ok in money management? Well, if you are clearly aware that your strategy should allow you to stay "in" even after you have 10 - 15 loosing trade, then that a good start. But all in all, your final money management should be formed together with your trading system, because in a way those 2 things should be dependant on each other.

Originally Posted by guruweb

I read through the ebook written by realtime forex about the basics of technicals.I went through almost all of the technical charts,indicators.Now I know some wht about them.Now i want ur advice wht to do next & How to learn to appply technical knowledge in forex.

Ok, lets get to the technical side. Here we have many aspects that YOU need to decide first. Here are at least 2 things you need to consider. There are more, but here are 2 I think of right away:

• Do you want to trade intraday, scalp, mid, or long term (or all of the above)?
  
  For example, if you plan/tend to trade mid term and not intraday, then you need to use bigger scale charts and trend following indicators... and so on.
  
  
• are you a conservative person or more contemporary/aggressive style person?
  
  If you are more conservative type of person, then you would better use well known and time-proved tools like RSI, MACD, candles, etc. But if you are a reformer type of person, you will probably seek for new ways of analysis, new indicators and systems which are constantly being developed by many traders especially nowadays with all the automated systems and stuff like that.

Answers to those 2 questions will give you directions on how to move on, which indicators to use, and how to apply them (or how to try to apply them).

Why do you need to answer those questions and understand "yourself"? Because, as its well said - trading style should fit a trader as a suit. And that’s part of the psychology.

Sorry for the long post guys, and I hope that its of any help.

Good Luck and have fund everyone!

Rezo

[easytrading]

practice make perfect. just use marketiva.he will offer you $5 real money when you open your account , and get $10000 vitural money. just use them to practice your trading skill. if your virtual money less then $2000 you can ask live assistant to refill it. good luck!

[G550]

I think what Rezo and Trade have said are paramount to any traders success. As a newbie myself (only demo trading for just under a month) these are issues that I am dealing with as well. I feel the "pain" when I take a losing trade. Of course, nobody wants to lose and even if it's a demo, you still feel like you lost money because you start questioning your analysis. In fact, my first trade was a loss. And I've losted a few trades after that, BUT...and this is a big BUT...I was able to not let thoses losses get to me. I was determined to continue following my strategy and re-group the next morning to tackle the market. I am very happy with how I've been able to move past my losses thus far, even in the demo world, this means a lot to me. I've even managed not to beat myself up after cashing out on a trade that later went on to earn 40 or 50 pips more. I still feel it inside, the want and desire to gain as much as possible, but having control and discipline will most likely extend your life as a trader.

I still have a lot to learn, but I feel that if I can focus more on risk management and use a rudimentary approach in my analysis (a far more profound approach will require too much time spent on TA, thus reducing your time spent on risk), I will be better off in the future.

Just an opinion of course...but it works for me.