Hmm. This is a tough question because I'm spending the majority of my time trying to ramp up on forex. I'm really excited about it and can't digest it fast enough -- there is so, so much to learn. However, before I got bit by the FX bug, I was into Chess - chess club, chess tournaments, chess books, chess computer program, chess online, etc. Now its on the backburner. I hope to do a better job of balancing things in the future. Right now its mostly FOREX
Thanks for joining the forum. Most of us are in the same boat as you - we had previous lives, hobbies, jobs - and then found forex
Fortunately for me, I get to continue doing what I love as the software developer amongst forex traders, and geek out with the best of em. There's something for everyone here!
Welcome PurpleSky
If you want my opinion on forex you should start simple. I do not think it has to be complicated to start with. When I started to play chess (some 100 years ago) I just learned the basic moves and then the simple strategies. With time I learned more complex strategies that made me a descent player (among my friends, not at a professional level). Same with forex. You start with a pair or two that you understand better, then select a simple strategy or two and apply them. Something like the camelback or MA200. Trying to learn everything at once will make things worse. First you need to have confidence from your moves, making small profits on a regular basis. The rest will come.
Hello and nice to meet you all. My passions outside of Forex are competing in Chess tournaments(US Chess Federation) and running marathons. I like to think that chess helps sharpen pattern recognition skills and running long distance helps develop patience and discipline, key success factors in becoming a better trader. I am a full time trader and look forward to growing with the help of the FX Instructor team.
In a previous life, I was wholly immersed in sw - graphics, database, hw diagnostics, applications, buildmeister, and test. Phew! The hours are very long and I got burned out doing one release after another. Are you responsible for developing the entire website and the forex indicators? Either or both can be very time consuming. Are you using open software? Just curious... Software developers are my heroes. Thanks for you all your work in making our online experience smooth, glitch-free, and FUN.
The strategy for learning forex which you described in the context of chess makes a whole lot of sense to me. I never even thought about it like that.
For chess, I worked out a self-learning plan with times frames and made a lot of progress. Currently, I feel like I'm thrashing a lot. One thing I 've noticed is that sometimes I'm so eager not to miss a trade that I pull the trigger on the wrong one -- for example, AUD/USD instead of AUD/CAD. This is so dumb but I just get carried away or impatient after studying so much. I'm so eager to get in. Now I refuse to bring up my platform until all the technical analysis is done. I think your suggestion about choosing a few pairs to focus on is very good because by the time I've gone through all the pairs supported by the platform which can take 2+ hours, I just want to get into a trade. By using it-finance charts online, I don't get tempted to push the sell/buy triggers. Thanks for the great advice.
I'm thinking of going to the Pacific Coast Open chess tournament in July. Maybe someday we may play each other at one of these tournaments
Chess does require a lot of patience particularly when analyzing long variations. And its even tougher if you just doing it in your mind with out setting it up on the board. Unfortunately, my patience in chess doesn't translate to Forex. Maybe because I'm still in the honeymoon phase - haven't been doing it for a long time. I have never tried running long distance. But I have started a new exercise regimen for myself to give me a break from the computer monitor.
On behalf of everyone in the forum, WELCOME. Does the hp refer to Hewlett-Packard? How long have you been trading forex? What would you like to get out of the forum? Hmm, maybe I'll change my handle to hp007
Location: I Live on a Farm In the Free State in South Africa.
Favorite Pairs to Trade: EUR/USD and USD/CHF
Join Date: Jun 2007
Location: I Live on a Farm In the Free State in South Africa.
Posts: 1
Hello All
Just a short Hello to everybody on the forum, hope we can have long hours of chat after all the trading. I am from South Africa and have been trading for 1 year. Hope I can learn something from all on the forum.
The Official "Hello" Thread!
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