What Every Beginner Should Learn and Implement.....

[xuzhu 10]

many people had good replies here.

 

basics are easy to learn. more important is the self-control and the understanding of the trading.

[Obsidian 10]

Well, I understand. And do you think there may be a basic book for beginners, which would you recommend in the first place to study?

 

There are lots of books regarding technical analysis, strategies etc, you can check the books section on the forum to find the most useful ones. However my advice would be dont start learning by such stuff...instead read books like reminiscence of a stock operator: jesse livermore...the reason I say that is because; first you should learn how things work and second you should realize that these are just numbers...start with basics, then you can learn the details...

[missy 10]

There are lots of books regarding technical analysis, strategies etc, you can check the books section on the forum to find the most useful ones. However my advice would be dont start learning by such stuff...instead read books like reminiscence of a stock operator: jesse livermore...the reason I say that is because; first you should learn how things work and second you should realize that these are just numbers...start with basics, then you can learn the details...

 

Well, I understand, thank you)

[missy 10]

Hello! I'm new on this site I have a lot of things suggested and again I want to ask for help from more experienced))) I was advised that we can try to participate in tournaments ... there are even free with a demo account can also be involved freebie ... complete in general ... can anyone involved, I heard something about fs. wondering how this is all fairly ...

[Mysticforex 13]

Hello! I'm new on this site I have a lot of things suggested and again I want to ask for help from more experienced))) I was advised that we can try to participate in tournaments ... there are even free with a demo account can also be involved freebie ... complete in general ... can anyone involved, I heard something about fs. wondering how this is all fairly ...

 

We had a Forex Trading contest here on TL about a year ago. It didn't seem to generate much interest so it was not continued.

 

fs. ???

[missy 10]

We had a Forex Trading contest here on TL about a year ago. It didn't seem to generate much interest so it was not continued.

 

fs. ???

 

No, I'm talking about something else ... Ran into a site which, if not mistaken forexstars. There is a sort of tournament is where you can participate in a demo account without a deposit, but the real money. Does anyone in this part. I want to know whether or not to try?

[mohsinqureshii 10]

Trading Forex for a living from the comfort of your own home can be extremely profitale, but it can also drive you insane at times. So here i would like to offer my 6 top tips for keeping yourself sane when trading.

 

1) Check the day's economic calendar at the start of every session

 

There is nothing more infuriating than taking the time to find a good position which goes nicely into profit, before suddenly turning into a losing position due to economic data release or Ben Bernanke (FED Chairmen) opening his big mouth, for example, Which you'd completely forgotten about. So always check the scheduled announcements for the day before you do anything else, and make note of them so you're never caught out.

 

2) Visit trading forums and chat to other traders online.

 

trading from home is a lonely profession, and the frustrating thing is that you have no-one to share trading ideas with, so forums and trading rooms are great for this. obviously you don't want to spend too much time doing this otherwise you might miss some great opportunities, but they are worth visiting during quiet periods, of which there are many during the day.

 

3) Leave the house and speak to real people.

 

Following on from the last point , the loneliness factor is a very real one and for that reason I always say that you should make a point of going out and mixing with people as much as possible when you're not trading. If you are not careful, after long periods of time it is very easy to go out less and less and find yourself becoming more and more introverted, so try not to fall into this trap.

 

4) take plenty of exercise

 

It is an old saying, "A healthy body is a healthy mind" , and it is completely true. Apart from the fact that you need to be completely switched on when making trading decisions, sitting down starting at a computer screen for hours on end is really not good for your eyes, your back or your health in general, therefore you should take plenty of exercise during the day and in your spare time to keep yourself healthy.

 

5) Take regular breaks and reward yourself occasionally.

 

As well as exercising, it is also a good idea to take regular breaks during the day just to relax and chill out. trading can really get the pulse racing at times. and can be very stressful, so take a break occasionally. Also if you've made a highly profitable trade and achieved your daily target, If you have one, why not reward yourself with a DVD or a shopping spree, for example. After all there's more to lift than just making money.

 

6) Invest your profits into other areas.

 

Trading forex is great, but why spend all your time busting a gut trying to make more and more money. If you do become a successful trader, invest some of it int stocks and property and make your money work for you. This way you will take some of the pressure off of yourself and you can become a more relaxed trader knowing you have other sources of income.

[Jack Francisco 10]

:helloooo:

 

This is also very important for the newbies

•Be able to read charts fluently

•Skilled in technical analysis

•Skilled in fundamental analysis

•Understand how different markets affect each other

•Know what effect different news has on a currency and how important it is

•Understand the underlying factors which drive price

•Have 100% self control over yourself

•Able to think of trading systems

•Able to test trading systems, realisticly and not be biased

•Know how to manage risk

•Understands the importance of money management

•Know when to stay out of a trade

•Knows when to enter and exit a trade, and how to limit losses

•Able to master one's emotions and psychology

 

 

 

 

 

 

 

 

 

 

 

 

 

Trading is not easy. That is something that most of the brokers and vendors forget to tell you before you start. There is so much that needs to be learnt early to avoid the usual trial and error mistakes.

 

My personal advice is to start with the basics and to understand them completely

 

1.Psychology of Trading

Knowing how you will react to loss and gains is important because either event will impact your mental state. The two main culprits being Fear and Greed which can make you do things that you could regret later, such as ignoring a stop or not even taking a trade

 

2.Risk Management

To make money you first need to have money and that is what risk management teaches you. Protecting your capital should be your first concern when starting.

 

3.Technical Analysis

Technical analysis is our main tool as traders and a understanding of it and its basic principles will help any new trader.

 

4.Developing a Trading System

You simply must have a trading plan or system in place before start. It shows you what works and what doesn’t for yourself.

 

5.Traders Journal

Keeping a journal of all trades and personal trading notes helps to keep you sane in an environment that can make absolutely no sense

 

6.............Please share your tip for newbs