Help me, by helping you

Hey Guys n Gals,

let me begin off by introducing myself, I am a @home retailtrader that is looking to expand my knowledge about everything thats is Forex.
Ive come into this world a little over 2 years ago now and ever since have lived and breathed forex.
Countless hours went to reading through various articles and books, (complimentary) online courses, hours and hours of forex youtube videos and some forums aswell.
With the obtained knowledge I formed my tradingplan, backtested and everything, and have been profitable on a small live account for about six months.
I will share a little about what my egy entails, but wont visit some further extend explaining it ,so please by all means refrain from some queries about it.
I exchange mainly Price action using a combination of Fibs, I dont take into account any fundamental analysis but I do keep an eye out not to participate in the markets at times of high impact news events.
I consider myself a daytrader as I dont keep trades instantly, I live in holland so my trades are usually set up in early london session and will run up to an average of about 8-10 hours, shutting in overdue new york session.

My reasoning for opening this thread is to expand my knowledge on the financial markets aswell as helping a fellow trader out.
That I have found that explaining the theories to family and friends has helped me understand a better understanding aswell, but continue explaining that the forex is really a market grows tiresome after a while so I am hoping to get so more in depth questions in here.
I will do my very best to assist you with what ever youre questions may be, make sure it pschycology, specialized analysis or other issues.
If I am not able to assist you with the query I will hunt for the answers on the internet for you, offering you an answer to the top of my abillitys.
Should there be any other experienced trader keen to add anything to my excuses, please dont be shy and do processor in.
I expect we can make this a fantastic learning experience for all.

Some sidenotes:
- English isn't my native language so whether its unclear at times I apologize in advance.
- I do discretionary trading and don't have a coding history, nor is there any interest so I will help you with that AT ALL. (perhaps there'll be others with this thread prepared to help though.)
- I do not recommend Brokers
- I am mostly selftaught, so I cant recommend any courses
(if I think of some more some may be additional)

I trust we can build a good thread and future together.

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Originally Posted by ;

How Mature you Rit? Are you currently married? Would You guide me the way to keep family (daily meals,spouse,kids) exclusively trading FX? I did it and in doing for last couple of years but I want your guidelines how to manage family exclusively trading FX. I would like to understand Family expense management trading FX money management,as you understand you always can not make everyday. Thnx.

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Well im not sure what youre trying to convey here, if youre just trolling along or you're seriously asking me a question.
It appears to me that if you're trading fulltime without a job for two or three years then you should already have these items in order,
make no mistake I'm not a fulltime trader nonetheless and still keep my dayjob.
However, for the intention of the thread along with my seriousness in what im askin people to do for me here, I'll treat it as the latter.
I'm 30 years old, and have a young family to feed not yet married. My son is 3 years old.
I fight along making ends meet, since living costs are skyrocketing over here.

It appears to me the very first thing you should do is know to cut down on things you dont want, see what's youre bare minimum neccessary for living(items you absolutely cant do without).
With this amount you should be able to survive the month, multiply this by atleast 18 months so you know its enough to pay that 18 months. (keep this as a buffer in youre bank account in any respect times!) Without dont even think about stopping dayjob.
Now you know the bare minimum youll want trading funds aswell, the quantity required purely depends upon youre consistent returns out of the markets while trading the egy.
Making sure you be able to receive the bare minimum living expenses out of it's a no brainer.
Trading fulltime with no safety of a monthly wages isnt for everyone, it an and will mess with youre head. Be sure to be ready for all those drawdown months both financially and emotionally!
Trading may be boring sometimes, and isnt something you do all day long if youre not a scalper. Be sure to take youre time aways from the chart and spend time with spouse and kids everyday! it keeps them happy aswell.
You can also boost yourself financially with keeping a parttime job, a 2 possibly 3 day job makes for continuous income it keeps you sane and also for all those people who want some time off from the family two birds one stone right.

Thats my answer to youre question feel free to criticize or include if you feel neccessary

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Originally Posted by ;

quote Well im not sure what youre trying to convey here, if youre just trolling along or you're seriously asking me a question. It seems to me that if you're trading fulltime without a job for a few years you need to already have these things in order, make no mistake I'm not a fulltime trader nonetheless and still maintain my dayjob. However, for the function of the thread and my seriousness in what im askin people to do for me here, I'll treat it as the latter. I'm 30 years old, and have a young family to feed not yet wed. My son is 3 years old....

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Thanks for response. I'm not trolling on your thread and necessarily I'm not one of those red labelled people here innigeriaforextradingto criticize what . I've had experience and just asked how you look at things. I keep two years household expense buffer in bank and commerce considering trading return may not come frequently all of the time.

Sounds good, and you will rest asure I am pretty serious about this.
I look at trading because the way I wish to spend my (working) life.
I understand that this may seem like a different know-it-all newbie thread passing along, but trust me thats not the case I dont have all of the answers.
Ive made this thread with intention of learning just a much as I can myself and when I could help folks across the way its even better.
Therefore I cant wait to see what the thread will bring later on.

Hello - sorry if this is a bad place. As a new member, I'm not allowed to start new threads and that I didn't find a good general place to ask this question, but...

There is Euro data from before the Euro existed. Does anyone know what currency this information comes from?

Also read 'Humility' has composed. Forget about the leverage that your broker gives or imposes, your real leverage is the position size divided by the quantity on your account.

Quote:

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Originally Posted by ;

Hello - sorry if that is a bad spot to post this. As a new member, I'm not allowed to start new threads and I didn't see a fantastic general area to ask this question, but... There is Euro data from prior to the Euro existed. Does anyone know what currency this information comes from?

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Hey,
In 1970 a fixed exchange rate has been released with the EEC, note that this wasnt nevertheless an actual currency.
Member states that had signed to become a part of this agreed to fix their currency into the new one with limited permitted fluctuations.
At this time both thefictional and excisting currencies could be traded.
In 1979 the Eurpean Currency Unit (ECU) a mean of currencies involved in the new exchange rate mechanism.
Currently there was still no new currency.
In the maastricht agreement that has been set up in 1991 set the year 1999 as target for the complete monetary union and launchdate for its new currency.
All involved member states with the exception of England(who picked out) held the euro as their nations currency starting jan 1999.

Quote:

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Originally Posted by ;

Also read carefully what 'Humility' has written. Forget about the leverage your broker offers or imposes, your real leverage is the position size divided by the quantity in your account.

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I dont believe you are in the right thread?

Older you Rit? Are you currently married? Can You guide me the way to keep family (daily meals,wife,kids) solely trading forex? I did it and still in doing last couple of years but I need your guidelines how to control family solely trading forex. I want to know Family expense management trading forex money management,as you know you necessarily can not make everyday. Thnx.