Thread: GBP and JPY Pairs H1 2013

Originally Posted by 4xtr8ter

I am a firm believer in education... but I myself have a degree I don't use and know many people who do. Nothing can replace actual experience. That is my best advice. If you can afford to go to school and not put yourself in debt and also truly want to be there (most 18 year olds just screw around in college) I say go for it. But if you take the money you would spend on school and invest it properly... you could go to school in your 30's and be living a good life!

Just giving you an angle most people don't want to say.

For information, tuition fees in french universities are € 171.75. It changes many things. And i know that spending too much time studying is kinda waste of time. Actually, except lectures and the subject, it's quite boring in my opinion.
But like adam said a bit roughly as I've been being quite autonomous from my parents for quite some time: at 18, you're telling yourself 'How come would I get finally hired in trading or in FX jobs if i can't provide any academic background?'

Originally Posted by adam6655nyc

You do not know that when you are 18...you parents tell you to go to school
graduate and get a job...you go for it...by the time you are mature enough to think on your own, you discover that what you enjoy in life is not what you make your living from and you go searching...

But your parents know better than you lol

But if you are not successful in trading...then you end up with nothing...not a good idea from a risk/reward ...etc

Yeah, I'd always get the education too even if the "end goal" was to be a professional trader. Always best to have something to fall back on...a "plan b".

It's good to have that for your wife or for your kids.

It's good to invest 4 years (or 6 in the case of a master's degree) to help to ensure your next 30-40 years of employment have a brighter future, I say.

Originally Posted by AjsooOO

For information, tuition fees in french universities are € 171.75. It changes many things. And i know that spending too much time studying is kinda waste of time. Actually, except lectures and the subject, it's quite boring in my opinion.
But like adam said a bit roughly as I've been being quite autonomous from my parents for quite some time: at 18, you're telling yourself 'How come would I get finally hired in trading or in FX jobs if i can't provide any academic background?'

Education is important, it opens the world to you and it is an insurance policy just in case if you are not smart/lucky enough to start your own business and go enjoy your life. you can always use your degree to get a job. but being successful in life as a person has nothing to do with education (I have met highly educated people and have no respect for any of them, and I have met great people with no education) it is what you make out of yourself and your life that qualify you to be a good person or not.

I always laugh at people hanging their degree on the wall (mine is in a box, never looked at it since I got it) who cares. it just proves you know how to answer questions or perform better on a test but look at all those failed companies last year, who was running them when they failed? people with their degree on the wall lol.

Originally Posted by adam6655nyc

So how many years you have been trading? what is the best advice you give new traders?

I wish I started that early

In forex i entered on a real account 2 years ago. I'm not yet so pro but the best advice is to don't be GREEDY. It takes 2 years to realize this thing, don't do the same mistake like me. Be Limited

Originally Posted by AjsooOO

Fifteen? you beat me ... Great thing that you could benefit from your father's experience in trading. Go on this way. My relationship with mine is quite the opposite

BTW i forgot to introduce myself.

Im 18 years old. Started to trade one year ago (at the age of 17). Im French and I study political science in University Lyon 2 as the equivalent to a sophomore/junior.
Im graduating next year and I'd like a lot to escape from university and enroll in a more prestigious school, the LSE in particular, and study european or international affairs. But it's on condition that Im accepted. And if im not, i'll just stay in university. French universities are quite awful compared to the american ones. Except extremely good teachers, they have no financial means. Risky plan, but i don't care as im still young enough to triple graduate
Im applying the same rule as in trading : keep panic away from you ^^

I would've liked to study financials for my master's degree to become a professional in trading, but i won't be able to with my graduation in political science unless i find an equivalence, but i don't think this is possible even if next year i begin a second undergraduate program in economics.

As for my trading experience, until late july I had lost half of the capital of my account. Emotions are the problem. I then kept away from my real account and began to trade on demo accounts to gain experience. I've been trading for real again since october 2009, and im still currently recovering from my previous losses. I think i finally crossed a gap in trading - i hope.

Here you are

Hello Ajsoooo tnx. I'm aware about this thing and i try to exploit to the maximum. It's really nice there in France, i was last year in Paris :P
As you i'll try find some seminars to learn more about forex. Here in Romania it has recently started some programs to teach about forex, but are the basically lessons . . .
And good luck to revocer your losses but keep this in mind: don't be greedy
Cheers

Originally Posted by Dimake

In forex i entered on a real account 2 years ago. I'm not yet so pro but the best advice is to don't be GREEDY. It takes 2 years to realize this thing, don't do the same mistake like me. Be Limited

10 dimes add up to a dollar as they say ....slowly but steady...

Originally Posted by Sean Hyman

Yeah, I'd always get the education too even if the "end goal" was to be a professional trader. Always best to have something to fall back on...a "plan b".

It's good to have that for your wife or for your kids.

It's good to invest 4 years (or 6 in the case of a master's degree) to help to ensure your next 30-40 years of employment have a brighter future, I say.

Totally AGREE.

So you are in Forex for the past 6years....what did you trade before? were you in commodity? (you do not seem like a stiff commodity trader lol, you more like stocks/options trader) right?

Originally Posted by adam6655nyc

Education is important, it opens the world to you and it is an insurance policy just in case if you are not smart/lucky enough to start your own business and go enjoy your life. you can always use your degree to get a job. but being successful in life as a person has nothing to do with education (I have met highly educated people and have no respect for any of them, and I have met great people with no education) it is what you make out of yourself and your life that qualify you to be a good person or not.

I always laugh at people hanging their degree on the wall (mine is in a box, never looked at it since I got it) who cares. it just proves you know how to answer questions or perform better on a test but look at all those failed companies last year, who was running them when they failed? people with their degree on the wall lol.

I agree with you. Education is important and if you have degree will help you to get a better job, but it's not a general available true. For ex in my country, the most people who finished the college looks for a job in a another country. If you have no school but you are a relative with the director you'll have priority (doesn't matter if you're dumb) and those who finished a college and have a degree remain on the outside ..

Originally Posted by Dimake

And good luck to revocer your losses but keep this in mind: don't be greedy
Cheers

Well, in my opinion you may be greedy as long as you stick firmly to your proper secure rules, and as long as you keep your emotions away from you. This second thing is I suppose the hardest.

Just a picture with no distraction (indicators, studies ...etc)

We still down, but the bounce is underway, it is not over yet.

Originally Posted by AjsooOO

Well, in my opinion you may be greedy as long as you stick firmly to your proper secure rules, and as long as you keep your emotions away from you. This second thing is I suppose the hardest.

Theoretically speaking is correct. But, in practice, when you open a position and you see how your profit grows and grows you hope for more and more profits. And if the trend goes in the opposite direction you hope that the trend will come back and you'll have again that big profit. Here my friend, when you'll go through something like this you'll know how hard is the emotional state

Originally Posted by Dimake

Theoretically speaking is correct. But, in practice, when you open a position and you see how your profit grows and grows you hope for more and more profits. And if the trend goes in the opposite direction you hope that the trend will come back and you'll have again that big profit. Here my friend, when you'll go through something like this you'll know how hard is the emotional state

When you enter any trade, you need to determine a limit. Your exit plan must be prepared before entering I think.

bearish Head & Shoulders pattern on EUR/NZD's 15 minute chart.

Originally Posted by Dimake

I agree with you. Education is important and if you have degree will help you to get a better job, but it's not a general available true. For ex in my country, the most people who finished the college looks for a job in a another country. If you have no school but you are a relative with the director you'll have priority (doesn't matter if you're dumb) and those who finished a college and have a degree remain on the outside ..

Connections is the second lesson you learn in life after you get your education, you discover that people who get a promotion or a raise are not the people who deserve it but they have connections...so in addition to your education, go out and learn how to network (build connection with the right people)

Third lesson before I go out of here, your success depends on other people level of intelligence, if you smarter than most of the people around you, they will hand you out their money and their hard work hours, you will benefit from that (each one of us hand Bill gate part of his wealth), so when you think business, think how you make the cycle of money stops in your front door not get out of your doorstep and into someone else driveway.

successful business starts with a simple idea where you get as many people as possible to hand you out small part of your wealth (the power of accumulation).

I am out of here till london opens tonight, wish you all the best trades...be careful, volume is low, trends are not there yet ...

Originally Posted by AjsooOO

When you enter any trade, you need to determine a limit. Your exit plan must be prepared before entering I think.

Yes, again, theoretically speaking. I always enter with a plan, and always i have a limit. But i was talking when you play on high stakes :P I made some transaction on my father account and believe me it's not the same thinkg :P