Intro

Hello nigeriaforextrading.

I#8217;m going to begin learning the foreign exchange market and the way it works, and would love to add other people in it. The main reason I'm posting this here is to involve more people with me, which will be for my benefit, as it seems to be an exciting prospect to have some input in my learning, to maintain me motivated/disciplined sufficient to continue learning, and to maybe help any of you. I will try to update this thread as frequently as I have a certain amount of new significant information(New items I have learned, updates on transactions, etc.) to post. I think we need to anticipate a new post every other day or so, however don#8217;t call me out when I don#8217;t post accordingly.

So a little bit about me to give you a backdrop:

I'm an ancient 20#8217;s pupil in a state university in the US studying physics. I have been meddling with Forex trading on and off since I was 15 when I blew my first $500 account. Have had a couple hundred dollar accounts because then, they didn#8217;t blow out but I ended up withdrawing the money. I don#8217;t have much ";actual"; understanding of this currency market, which is something I want to repair. I think I have the philosophy for trading, so I don#8217;t even have the knowledge/information to make informed trades, which is largely what I plan to change.
A couple of days ago I transferred $237 in my Pepperstone account, and this is what I shall begin trading with. My goal is to learn before I earn, so I'm not afraid of blowing out this account. Of course, I'll do my best to not allow that to happen, as I prefer to create this account into my future ";actual"; account.

Macro Goals

Develop self discipline/Mastery of itself. That is my biggest goal out of all this. I would like to change my future rather than be stuck/constant in one state, as that's stagnant.

Learn how the foreign exchange and other markets operate. I place in other markets because if I see another fascinating opportunity I'll try my best to understand it. But for now, my focus remains about the foreign exchange market.

Earn money. Be fiscally independent. I don#8217;t have/want to set a time frame for this to occur because this will skew how I'm supposed to exchange to satisfy my time expectations that are arbitrary.

Micro goals:

Two hrs/day busy Forex learning/trading.
Trade my 237 account.
Daily 10 minute meditation. Helps concentrate/think clearly. So does not utilizing.

And there#8217;s lots of other things that would bore you guys so I'll leave it out for today.

Philosophy

My forex philosophy is simple: commerce when you completely understand why you are doing what you are doing. I don't accept ";technical"; analysis and won't use it. I don#8217;t find it helpful in any way, as I feel it#8217;s only many distinct methods of following the short term tendencies, and that real Forex moves don't ";depend"; about those technical investigations to occur, nor are they represented by them. I prefer to trade on why they actually move, which we could find by fundamental analysis. That is the reason why the majority will depend on fundamental reasoning I will back up with details which produce a case for why a movement that is certain ought to be expected and historic data. I think there are no ";keys"; besides simply having a common sense philosophy. My cash is a means to demone confidence.

Just because it works doesn#8217;t mean it#8217;s right. I prefer to be aware of the reason I anticipate a specific trade. I think internal impacts are significantly more significant than external ones. Being truthful and self-mastery are more significant than making money. I understand the markets are not what I want them to be, so I don#8217;t exist to the markets. Therefore, the market doesn#8217;t care for mepersonally, nor do I care about it. Being worried over transactions does not change/alter fact in any way whatsoever, so just relax and work on which I can control. I know these are ideas, but I#8217;m just putting it out there since it#8217;s part of my philosophy.

Trade without any expectations. I think arbitrary restrictions(eg. You should only expect to consistently earn ~1-2 percent of your capital annually, 300 conducts are a high/rare score in ODI cricket, you can just run so fast, etc., all such arbitrary limitations were distinct in different eras, which explains the reason I think they were just the consequence of mental limitations put on for no reason) affect us more than any external influences, therefore that I#8217;m going to really go for any risk/trade I deem fair with absolute disregard for these limits. Whenever is a will, there is a way. That is just another reason I won't go into a trade, but with investments which following analysis I have decided to act in a way that is specific. If what's supposed to occur happen does not, I'll look at the fundamental reasoning behind and return to the drawing board. Notearn x amount of pips,"; but to predict market movement. I don#8217;t should generate money, I#8217;m joyful living on basically pennies/day, I have an extremely frugal lifestyle anyway. That explains the reason why I#8217;m not emotionally invested/will try to not be(eg. Assessing trades nervously every 5 minutes to find out what occurred, etc.) and won#8217;t get excited/dejected it over.

I am going to exchange my account as though it were a proportion. I wish I could completely eliminate the dollar value, but alas I can not. I will only make transactions that later producing, I can peacefully sleep at night. I read since the way is most likely not the way to generate money money making ought to be a activity. I try to maintain my own biases out of the way and will bring that philosophy. Make small profit transactions I'm completely confident of rather than a massive profit ones that I#8217;m not confident in. Do not be ".

Stay the hell away from fads, but know when a fantastic business opportunity reveals itself. I#8217;m generally quite good at spotting fads and bullshit, which is the reason why I hope to be investing in fundamentally strong investments .

I'll prefer if the posters responding to my thread don't respond to some bit of information I have posted with their ";opinion"; if they think I am wrong. In managing things I have an personality, and would rather maintain my mental frame. But if there is a objective bit of information I have posted, which is false, please don't hesitate to correct me. I think everybody is just as clueless as the next person and most people are only pretending to know, therefore I #8217;d prefer to be wrong in my shoulders than on someone else#8217;therefore. There's not any space for self-doubt.

I#8217;m a nihilist anyway, nothing things. The reason of posting this above is you know which kind of a trader you're addressing, and to help you make a decision whether or not you're interested to continue reading my posts.

Learning objective/What to anticipate for the upcoming

I#8217;m going to hit the library and take a peek at some fiscal documents/books. For starters I am going to study solely USD/JPY(I'm not a fan of this EUR/USD because the Euro represents of way too many countries which would make getting a fantastic picture unnecessarily harder) in order to gain an comprehension of the aspects that impact currencies. I shall begin by comparing different economic indiors(GDP, growth rate, population, exports, interest rates, etc.) at different times and determine how they correspond to the currency values in order to try and find out which factors affect it the most. I think that a fantastic timeframe to compare them will be 1996, 2003, and current date since these are not periods of economic collapse. . I will read up on central banks, their purposes, and the importance of the interest rate. I place them here and will note my observations down and hope they will interest whoever is going to follow me.

I want to follow that up in the future with:

What are currency values based upon? What are they pegged to? How frequently is currency published? Total value in flow of this USD/JPY?
The central banks' interest rates make it easier for private individuals to accept loans, but do they actually promote economic growth so much that currency rates would be affected compared to a different country's? What factors promote/obstruct economic expansion? The economic development made/created after interest rate changes.
Who would be the biggest currency traders? When/why do they exchange? What are the ramifiions of those transactions?
Compare the trade between the united states and Japan and try to find out if there is a trend. To which nation is there a net outflow? What effect does this have on USD/JPY? [Will probably use Wikipedia for this]
Do companies which are initially German, but have offices in Japan, commerce in JPY or EUR when coping with the USA? [Not sure where to find an answer for this]
Reading/understanding central bank reports, [I will find these in the banks#8217; websites]
Produce a sheet of information comparing the currency rates and various economic indiors of Japan and the USA at different times, and to try to weigh exactly what value every indior has. [I plan on utilizing TradingEconomics for this]
Produce a market liberty report which measures the free market-ness/heavy regulation-ness Of the markets, and the effects of government policies on both. [Not yet certain how to attain this]
I've read somewhere in the past that the Japanese government invests internationally in certain specific time intervals. Attempt to figure out if there's a date for their bonds/upcoming investments and I would like to read more about this. Find additional information on investments that are public that are Japanese. What do the US and Japan trade/invest in largely?
Evaluate USD and the JPY with respect to other currencies in different time intervals. Determine which country had the influence on the USD/JPY pair at a time that is certain. Determine why.


Basically, I want to learn what moves currencies and how much it moves. I hate uncertainty, I don#8217;t bet. I would like to invest.

If you have any reading recommendations linked to the material/questions previously, please feel free to post them. I will attempt to follow up this article with answers that I have thought of. Hopefully this will help you guys too.

I'll also post any transactions I decide to make and the rationale behind them.

Daily audio

all these posts will include an accompanying audio video which reflects my mood. Here is the one for now by one. Fear of Stress - Passenger: