Everything starts here

Everything starts here:

My humble intention is simply to tell the story of someone starting in the Forex, and sharing what is happening. The bad and the good.

The Forex world from the very beginning! I do not even have a live account yet. Only demos and few weeks of daily studies. However I plan to open very soon a micro-account to feel the shivers when trading real money. At a lower risk. Let save a few biscuits at the beginning.

Basically if you wonder, like me… How to say it. Well… About everything in the Forex, you may be interested in this story just starting. I propose to discover it together. No more, but no less.

Will I survive ?

Feel free to analyze my survival and agree/disagree with my self-appraisal.

I am the proud inventor of the “Mr Glick Survival Rating” (Check the right of the blog screen). I set it to 5 at the moment because. The middle sounds reasonable. Too low is maybe a bit pessimistic and too high would not make sense. Also, the current rating is based on demo performances. I will pretty soon open the live micro-account. My first actions will target profit sustainability, not profits at all cost.

Which broker?

The truth? I still do not have a clue, or nearly. I spent evenings checking reviews. What I read is they are all scams stealing money to the honest people. Ok. Seriously. I tend to believe the word scam is overused. I would expect some unscrupulous brokers, but not all. Maybe a very few. And maybe few tricks they use I better know.

This is a promise I make here, if anything goes wrong along the line, I will say it. (just in case, please remind it to me later when I forgot and scream about scams all around the place, naked, jumping on the roof!).

So far I used a demo from a Broker called Hantec Markets. I plan tonight to try out Alpari demo account.

Fundamental and/or Technical?

When I discovered both type of Analyzes. I was thinking: “mmmh, if both exists, they must probably both add value”. My very first and most important action was then, to make myself a coffee. And my second action was to jump into understanding what that stuff means.

I would not want to start trading without knowing what both got to offer. Even if I would not use much of one of them. For example half of the graph patterns sincerely left a big question mark above my head. In fact all around it and I almost fainted some days. But I learned them (kind of) and now waiting to spot them live and see what they really “say” to me.

Do not get me wrong. The reality is, I love numbers.

On the technical analysis side, what I did lately:

I imported into a spreadsheet from my trading platform graphs all the numbers per 1 hour and per 1 day. From there I started playing with the numbers. What did I get out of this? Well I noticed high and low probabilities to occur. Is this useful? … …/Mr Glick scratching behind the head unsure.

Anyway. Today, I want to gather all information I can that I feel could be useful. I will choose what to keep later. As long as it does not compromise my strategy, but rather support it.

On the fundamental side. Eating lot of news. My favorites:

Number 1, “Le Monde”, a French Newspaper similar to the Times,

Number 2,”ReutersUK”.

A few number 3s.

I want to add to my reading list:

I used to read the FT, will check my account status in the coming days.

Trying to understand how to use efficiently News Feed. My RSS is starving.

I also created another spreadsheet where I color coded economic/political results and calculated a few things. Again checking some probabilities. The issue I got with it is the time wasted? consumed.

To do it I follow 2 Economic Calendars. One from a website FXstreet.com and the second from Tradingeconomics.com. They are the 2 first I googled. There is no other reason why I chose them. However before adopting them I checked how quickly they update and appreciate they link to the official links (government official websites etc…). But any recommendations welcome.

Before I go

I could spread words over pages, there is much to say!

But I decided to keep short the first message. Tonight I will look into the new demo platform from Alpari. I put my hands on it and will provide first impressions.

By the way, almost forgot to say. With Hantec Markets demo, I made $4000 profits in a week with $10000. But I believe it was not hard to guess the huge Eur drop. Mr Reason tells me I was surfing on the right wave (Tsunami ?) on this occasion. I assume it becomes harder when the wave is not obvious and when using your own surf.

Mr Glick

Forex Surfer - Apprentice