I wouldnt change a thing

It’s been a long time since I have written on his blog mostly because I’ve taken some time to hone my skills as a Forex trader.  That got me thinking of where I started.

 

As I mentioned earlier it has been quite some time since I started my experience with Forex trading. Many people wonder where to start and are typically overwhelmed by the number of techniques and expert advisors available.  I took a look back over the past few months that where I started, what I’ve learned and what I would change. If I had to do over again I wouldn’t change the methods that I utilized to get myself up to speed in this dynamic environment.

 

I thought I would share with those people that are still hanging on to this blog exactly where I started and what I’ve learned.  One of the best introductions to works then I can recommend you to ForexMentor.  Not only does ForexMentor teach you what everyone needs to know to get started but also takes you down a path that creates a solid foundation for future learning.  I found this course to be very valuable.  I took in many years ago however it helped me develop a framework which I fill in with other courses and books.  The course is very comprehensive it starts with the basics and gets into very specific formations not only does it cover make the trend lines and that’s for managing levels but it also covers entries, exits and money management.

I’d love to continue with more information however it’s beginning to sound like a sales presentation more than just a recommendation.  I would like to avoid that.

 

Over the years I’ve purchased many books as well.  One of the best books I have purchased is entitled Forex Patterns and Probabilities by Ed Ponsi.  In this book Mr. Ponsi’s talks the reader through some very good technical methodologies as well as introductions to fundamentals.  I can’t say enough good things about this book.  It’s like having a successful Forex trader speaking to you directly.  I have always appreciated the style of writing and Mr. Ponsi does a good job of using it effectively.  Once you have a general understanding of the Forex market a few technical indicators this is an excellent book to assist in developing your own techniques.  And as I have stated before, developing your own techniques, good money management, and patients are the cornerstones of a successful Forex trader.

 

Over the past six months ending utilizing a tool that I have created to determine the effectiveness of various techniques.  I call it GoalTracker.  I’m going to be putting a few finishing touches on it and then releasing it to my readers.  That’s what we’ll focus on next time.

 

Until next time…  May all your trades be successful

 

Jerry

(www.pipstracker.com)

Posted on August 15th, 2010
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