I'm a newbie. I need some necessary posts, ebooks , technology or experiences to understand Forex and Gold/USD. Can you help me ?
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #27,703
- Nov 7, 2013 4:49am Nov 7, 2013 4:49am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #27,704
- Nov 7, 2013 6:02am Nov 7, 2013 6:02am
- Joined Jul 2011 | Status: good | 4,295 Posts
I'm a newbie. I need some necessary posts, ebooks , technology or experiences to understand Forex and Gold/USD. Can you help me ?
I second the suggestion for babypips.com school. Everything you need to know is there. Learn it, revise it and apply it.
For technical analysis (TA), learn Support & Resistance, Elliott Wave (Fibonacci Ratios), Stochastics, RSI and MACD. Have Rules for trading and a Money Management strategy. Here is a doc (written by an anooymous trader) to get you going.
http://ubuntuone.com/6dDZAOb15bNXhAM4xWt1dN
Don't buy systems but read as much as you can.
Trade on demo until you have doubled a $50 account 3 times. Then open a money account for $50 and lose it (guaranteed)
Good Luck.
cryptocurrency everytime
- #27,705
- Nov 7, 2013 6:10am Nov 7, 2013 6:10am
- Joined Jul 2011 | Status: good | 4,295 Posts
cryptocurrency everytime
{quote} I second the suggestion for babypips.com school. Everything you need to know is there. Learn it, revise it and apply it. For technical analysis (TA), learn Support & Resistance, Elliott Wave (Fibonacci Ratios), Stochastics, RSI and MACD. Have Rules for trading and a Money Management strategy. Here is a doc (written by an anooymous trader) to get you going. http://ubuntuone.com/6dDZAOb15bNXhAM4xWt1dN Don't buy systems but read as much as you can. Trade on demo until you have doubled a $50 account 3 times. Then open a money account...
I'm hoping to learn a lot from u guys and this thread. Thanks so much 
- #27,709
- Nov 7, 2013 6:37am Nov 7, 2013 6:37am
- Joined Jul 2011 | Status: good | 4,295 Posts
{quote} Thanks Venzen for sharing! I'm a newbie, I skip the demo account. Deposit 600usd. And later I won 600usd after few random trades. I withdraw my 600usd. And now i'm at the edge of losing all my profit. But still, want to continue trading with just 100usd, I'm hoping to get several incomes from trading so I can have some money to open a small cafe
hi twinklestars,
Sounds like a good plan. Maybe, later, one cafe can turn into two... good luck with that.
To achieve this plan you will have to work at sharpening your trading skills (by reading, studying and practice) and you will also have to just do "screen time" by trading for a few years. Regarding money and funding your account: there really is no need to deposit $600 in an account all at once. The nature of learning trading and learning about ourselves in the market is that we will lose money until we have an illumination and find a sweetspot where our skills and the market meet. You will know when this happens and then you can deposit a larger sum - but even then it's not necessary - $50-$100 in a trade account is more than enough to learn with and, later on, to double several times and turn into a fortune.
Good luck and see you around!
cryptocurrency everytime
- #27,711
- Nov 7, 2013 7:02am Nov 7, 2013 7:02am
- Joined Jan 2012 | Status: Trader | 1,005 Posts
Today is the day for big Gold Bull !!! Buy anything 1308-1318 for God's sake !
Told ya big time !!!
- #27,719
- Edited 7:19am Nov 7, 2013 7:14am | Edited 7:19am
- | Joined Jul 2012 | Status: BugsBunny Magic Shapes never lie :) | 726 Posts
I think the scenario will be like this: 1rst gold must retrace for resistance till 1327-1337 Then go down from this area 1327-1337 to 1271 then it will go up again from 1269-1272 to 1400 This is the best scenario I see till Christmas
Enjoy
))))Mathematical Never Lie