Hello, My name is Anne Marie. I live in Washington State.

I had a question regarding trading strategies. I currently have a demo account and am trying to come up with a strategy that I can implement in to news trading. That syle really fits who I am.  The problem is, I am so new to all of this that I have a tough time understanding allot of the terms used to describe the "how to" of the actual strategy. Im not even sure how to use my stops yet. Is there somewhere I can go that has a basic strategy that a person like myself may be able to understand well enought to put to work? Can anyone help me? Thank you so much for your time. Anything is appreciated. Hope you have a great day. ~Anne Marie

BrianTran wrote Hi Anne Marie and welcome to Forexplane. You've come to the right place; this is where we're building a community where traders mentor each other, every step of the way! So let's start. Let's start by asking why you want to trade during news releases? Most new traders start off by trading news and usually it's the biggest trap in losing money. Even the smartest money (institutions and big funds) stay out of this time. In addition, most brokers will make it difficult for you to successfully trade them, even if you have a successful strategy. We'll talk about that later on. Now that you have a demo account, I suggest you read the manual or guide that came with the platform that the broker gave you. This will at least orient you with terminology and what these buttons means and do. For terminology, look up Investopedia. I also suggest visiting different forex forums, such as this one, to learn what traders think, do, learn, and talk about. This way get an idea. There are also books you can find in Amazon.com to get simple primers to understand the market in general and basic strategies, indicators, etc. My recommendations are: Alexander Elder "Trading for a Living" Make sure to read the reviews to make sure the level is appropriate for you. That's all I can think of now. If you have questions, keep asking. If you get a chance, join our chat room where we get together and discuss forex and related topics for beginners. I come in from 7:45AM (Eastern Time) to 8:15AM every morning. If you have preferred time, let me know and see if we can agree on time to chat. Good luck! Brian

Hi Brian.

Thank you so much for your email. I guess I will start by answering your question. I decided to trade the news because the person who mentors me (part time) trades that news and I get all of my info from him.  It just seemed like the eaisest for me to understand.

Im not sure I get the whole chart thing.  It all seems er confusing to me still so I just went with what I got. I will have to look around in this forum. It looks like there is allot of information here for me to check out. I just have a hard time deciding where to start.

Thank again,

Anne Marie

Hi Brian, =


Here are the answers to your questions. Thank you so very much for your =
help. =)
1) How often do you plan to trade? I would like to trade every day. Or
at least 5 days a week. =

2) How much time are you available to be in front of the quote screen and watch your position? I am available as much as needed really. I have no other job. I stay at home with my daughters who are both in school.


3) What is the purpose of your gains from trading? I would really like to be able to earn a living doing this. I'm hoping at least in the USD 100,000 bracket. (hope that isn't unrealistic)
4) How much are you willing to spend or lose on this account? Well at the moment I was planning to start with a 500 dollar deposit and work my way up. I can deposit more later but want to see how well I will do at this first. My high speed internet will be hooked up next Monday. Finally!That will make learning much easier.  Right now with this dial up I don't see all of the fluctuations in the market, as you would probably guess.

5) Are you able to get up early to trade or stay late to watch the quote
screen? YES! I have been getting up at about 1:30 a.m to watch the MBT
site for the last 2 months. I'm just frustrated and need more direction. I appreciate your helping me. =)


Answering these will help tremendously to find your strategy that will fit your personality and financial situation.

Thank you, again Brian!