New trader

[nitox]

Hello, I am new to trading, not a number cruncher or an economics major. This is looking like a rough journey, but I think I am starting to piece it together a little bit. I have read a couple of books and looking into some more. Of all the books I have read, I liked the Naked Forex best. It was simple and you didn’t have to learn about a bunch of indicators, which seem to be confusing me. Apparently, I am not good at reading the charts, though… which is why I searched for an alternative and found Petko. I was always fascinated by the “trading robot” that could do all the work for me, but thought it would be impossible to deal with if I didn’t know what I was doing… I still feel that way and will continue to study… I have a question or two that could probably help me out if answered. First, is it possible to make a robot and base it off of Naked Forex without indicators? Second, how do I not get overwhelmed with all of these algorithms? Is it possible to make money with a small account? What is the best way not to get crushed by the market? Where are the latest robots downloads from the courses located? I picked up the 5 top robots and the 10 robots courses on Udemy, but just saw a message that new algorithms were dropped already…. Do I download them from the course page? I planned on getting more of Petko’s courses, but are the robot courses just rehashed with more robots? Should I pick them all up? Any advice would most likely be helpful as well as appreciated… Thanks

[Ilan Vardy]

Hey Nitox,

As a beginner, it certainly can seem overwhelming when starting out, but I assure you, if you just follow the steps we teach, you’ll be comfortable in no time. Just keep practicing on a demo account until you’re confident.

We have just launched a new course, which is aimed specifically at new traders with no experience.

As for your question about the ‘algorithms’, we update our EAs regularly, and as such, the latest EAs are always those that are performing best in current market conditions. It doesn’t mean you cannot continue to keep the older ones on a demo account and monitor their performance, but we update to ensure the currently best are available to our students – we do the work for you. But of course, you need to test them yourself, to ensure they work well with your broker. You will find the EAs attached a s a ZIP file to one of the lectures – the place is different on each course, based on the course structure.

And yes, it is possible to make money with a small account, but of course, it will be relative. The chances of you doubling your account monthly is unlikely. Not all strategies or EAs will be profitable all the time. That is why we test and trade with many, so when some become unprofitable, others that are profitable will compensate. My advice is, don’t rush it. Practice on a demo account for as long as you can, before risking your money.

Good luck, and if you have nay other questions, don’t hesitate to ask us.

 

All the best,

Ilan

[Scott]

I’m in the US where hedging is not allowed. Other than adding a long short indicator in the generator or reactor, is there a simple way to modify an EA that was created with the validator to only buy long or sell short?

[Ilan Vardy]

Hey Scott,

Yes, there is. When you attach your EA to your chart, go to the middle tab: Common. You’ll see a drop down menu in the ‘Common’ box. where you can select if you want the EA to open only long, only short, or long and short positions.

Cheers,

Ilan

 

 

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