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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:
Commodity FX (CAD AUD NZD NOK)
Discuss Commodity FX (CAD AUD NZD NOK)
Your questions are beyond the scope of this forum. All I can say is that if your trading "system" can't make money trading just one instrument at say 0.1 lot (forex) then it can't make money trading multiple open positions at higher risk. Think about that. You have to develop your "system" for minimal cost to you (or your father). Losses should be regarded as business expenses and kept to a minimum.
I often think the trading profession is harder than being a brain surgeon. Similar length of learning curves but a brain surgeon can quantify expectations for consistent returns once he is qualified. A trader cannot rely on anything tangible. The large majority of novice traders give up in their 3rd or 4th year of training, if they survive their first year.
For educational services (RT rooms etc) I suggest you research the futures arena because the forex arena is full of charlatans. There are plenty of charlatans in the futures educational industry but there are also a few legit services out there who could help you.
You can't expect AL or any straight signal service provider to educate you for $100 per month. They charge for providing their signals, take em or leave em--no guarantees. You are in need of 1 on 1 mentoring with assistance in developing your own personal trading systems. These are the cruel facts !
There are lots of scams in forex. only way forward is to learn the art. If someone like Ashraf is finding the going tough, I wonder what novices like me will do.
btw, less focus on AL's tweet advertisement is better for trade management.
no offence, AL. :D
I shan't interfere with your questions to AL but I think he sometimes issues hedging trades. With regard to COT data I despise it being 3 full days behind the curve--I never use it.
It takes a lot of time for traders to find what studies and methodologies suits them best. Its a long road to becoming fully independent but that should be your goal. There are many perfectly legitimate different ways of trading and you have to find what SUITS YOU.