Oh Look... the Newbie is here

[Boney Varghese 0]

Hi guys 

Glad to be part of this group. A few things about me...

I live in the UAE and am an amateur trader. I've traded in stocks since 2006 mostly in the local Dubai Financial Market and the progressed to the Indian stocks market.

I also entered the Crypto market (quite late) in September 2017, had a few successful trades that led to other not so successful over-investments 

Through this period I felt that I was always missing the bus on my trades and making the wrong decisions, so I finally bit the bullet an invested (and nearly had a heart attack doing it) in some professional investment with the Online Training Academy 

It was quite an eye-opening experience and has helped me structure the way I think about trading.

Of course, there is no one way of trading that works always and so I try to get in a lot of reading to help fill in the gaps. 

The reason I'm here is that I believe we all learn better in groups and it is also is a great way to maintain the momentum and the interest.

Looking forward to chatting with all of you. 

[Donald 5]

Nice to see I'm not the only newbie here!

Altho I'm only testing the waters, but I'd love to make this sort of hobby my profession.

What do you think about the Online Training Academy? Could you tell us more about your experience with them? I've seen mixed reviews about their product, and not sure if it's worth it to follow them. 

[Jason Solomon 5]

Hey fellow newbies,

I guess we are in the same boat. I'm learning on my own, but I feel like I don't want to learn things the hard way. I mean why would I go straight into the woods when there's a road ridden by thousands before me?
So I decided to swallow my pride and look for a teacher or an online course. What do you think, trading is something that you can learn online efficiently? I think so, but there are quite a few options to pick from. And I don't want to waste my time nor my money. Last year was all about crypto and I read a lot about how a bunch of companies was nothing but a scam. They promised to double/triple your money within a very short time. I don't believe in getting wealthy in a week, so I'm looking for a trustworthy course where they can make their promises come true.

[Boney Varghese 0]

Jason apologies for the late reply - Trading (from what I've Learnt) is about Discipline and Practice. I was told that I need to do about 400 trades to even get a fundamental understanding. 

Trading does not need to end up in a loss. You should start with the demo account either with Tradestation, MetaTrader, Oanda, depending on which country you are based in there might be other options 

Build a fundamental understanding of the different markets and tools - this is largely common across the board 

Where you will be confused is the different trading styles adopted by the many gurus on the internet. Not to belittle their trading experience you need to find one Guru you are comfortable with and follow his method until you find its ineffective. Rest assured through this journey you will have learned quite a lot. Take this info and look for the next Guru. You will see certain similarities in his style and certain differences. It's all good. 

There is no one style of trading that works. Old Skool, New Skool, a combination of them both. you need to trade the style that you are comfortable with and the one that brings you results.

Discipline and Practise.

Before you even start trading you need to create a trading plan, SOmething that guides what you do  when you trade, your risk, etc.  - there are many resources online that will help you set up ( But that's later in the game) 

Again there is no course that can deliver on the promise unless you put in the work to make it happen. 

Build up to spending at least 2-3 hours a day on this consistently. It will pay off in the long run 

[Boney Varghese 0]

Hey Donald 

Now that I've attended the course and interacted with many of the instructors I cannot say that this is the ultimate course. it's probably one of the better ones out there and with the lifetime access to info and updates it probably the best one when it comes to value for money. 

Depending on which center and which instructor you are paired up with your experience will be different as each has their own style that works for them. Although they all integrate the core principals in their styles.

I would recommend that you explore the online resources before you decided to sign up for a course. investopedia is a brilliant resource. The time spent doing this will also help you understanding when you finally decided to attend a formal course 

[CrazyCzarina 17]

You can’t make good decisions without knowing the mechanics of a specific technique. In fact, the best traders are those who are acutely aware of the shortcomings of their particular approach. If the strategy isn’t appropriate for your financial situation, it should be avoided, regardless of how attractive it appears. Obviously every strategy has risk. The key is to develop an arsenal of profitable methods. Use only those that fit the market outlook, and manage each trade for maximum potential.