Hi
I would appreciate some advice please about my forex education. In particular, I'm hoping I can get some help from the "old timers" who are familiar with all of the different approaches, methods, styles and systems on FF and who would have a broad awareness of "what is out there".
My situation is that I have been exploring forex trading for nearly a year but still consider myself a newbie. I do trade a very small account but am very sensible (although still act according to greed and fear occasionally) - I find this psychologically suits me better than demo trading. I don't trade with a system - I wouldn't know what a system looks like really - and I don't have any plan as such (one of the things I would like to address). Ironically, I did trade for a living but this was energy trading in a very physical market and I didn't use technicals or trade "naked" - lots of structured options (accessed through physical storage contracts) and also a fair bit of arbitrage as it was a new market and shit loads of opportunity through inefficient pricing. However, fx is nothing like what I did and I consider myself to be starting from scratch.
I am taking a couple of years out of paid employment now and during that time I will be committing a good chunk of time to learning fx and exploring whether I can treat this as a business, so that I may gain some consistent return after some time (appreciate this will possibly take some years). I have the capital to fund an account but don't have to decide on that now - my long term aim is that fx can provide a supplementary income and I don't need it to be that much.
The crux of my problem is, out of all of the things I have seen on FF, where do I start ? I have spent a few months checking out FF and other websites - I have done Baby Pips and have the basics down but feel I need to now take the next step. One thing I have done is made a big list of possible avenues for further exploration/serious study - I have dozens of places I could start including J16, 4 hr rhythm/MACD, DIBS, plus loads of system based threads. I have a book list as long as my arm and there are 100's of webpages and articles bookmarked now.
If I am lucky enough to get any responses I would be hoping that I might get some advice about WHY I should perhaps follow J16 (as I am sure that a lot of people would support that) i.e. will it give me a good all round appreciation of the different approaches. So, what are the pros and cons of where I start. Even better would be an indication of how my study might develop - what the order of study could be, etc. Without appearing ungrateful up front, I'm less interested in responses such as "get stuck in, read everything you can, etc"
I think it looks like I'm asking a lot - I am up for the hard work and really I'm just looking for some pointers on how to go about this with a bit of wisdom and efficiency. I'm sure this will help someone else if they stumble on the answers (being optimistic I'll get some) - I have resisted jumping in too wholeheartedly without doing the hard work and I suspect many others that have gone before me must have thought "bloody hell, there are so many different approaches and methods, where the **** do I even start".
Anyway, enough waffle - thanks in advance.
I would appreciate some advice please about my forex education. In particular, I'm hoping I can get some help from the "old timers" who are familiar with all of the different approaches, methods, styles and systems on FF and who would have a broad awareness of "what is out there".
My situation is that I have been exploring forex trading for nearly a year but still consider myself a newbie. I do trade a very small account but am very sensible (although still act according to greed and fear occasionally) - I find this psychologically suits me better than demo trading. I don't trade with a system - I wouldn't know what a system looks like really - and I don't have any plan as such (one of the things I would like to address). Ironically, I did trade for a living but this was energy trading in a very physical market and I didn't use technicals or trade "naked" - lots of structured options (accessed through physical storage contracts) and also a fair bit of arbitrage as it was a new market and shit loads of opportunity through inefficient pricing. However, fx is nothing like what I did and I consider myself to be starting from scratch.
I am taking a couple of years out of paid employment now and during that time I will be committing a good chunk of time to learning fx and exploring whether I can treat this as a business, so that I may gain some consistent return after some time (appreciate this will possibly take some years). I have the capital to fund an account but don't have to decide on that now - my long term aim is that fx can provide a supplementary income and I don't need it to be that much.
The crux of my problem is, out of all of the things I have seen on FF, where do I start ? I have spent a few months checking out FF and other websites - I have done Baby Pips and have the basics down but feel I need to now take the next step. One thing I have done is made a big list of possible avenues for further exploration/serious study - I have dozens of places I could start including J16, 4 hr rhythm/MACD, DIBS, plus loads of system based threads. I have a book list as long as my arm and there are 100's of webpages and articles bookmarked now.
If I am lucky enough to get any responses I would be hoping that I might get some advice about WHY I should perhaps follow J16 (as I am sure that a lot of people would support that) i.e. will it give me a good all round appreciation of the different approaches. So, what are the pros and cons of where I start. Even better would be an indication of how my study might develop - what the order of study could be, etc. Without appearing ungrateful up front, I'm less interested in responses such as "get stuck in, read everything you can, etc"
I think it looks like I'm asking a lot - I am up for the hard work and really I'm just looking for some pointers on how to go about this with a bit of wisdom and efficiency. I'm sure this will help someone else if they stumble on the answers (being optimistic I'll get some) - I have resisted jumping in too wholeheartedly without doing the hard work and I suspect many others that have gone before me must have thought "bloody hell, there are so many different approaches and methods, where the **** do I even start".
Anyway, enough waffle - thanks in advance.