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Gerard Moore 19 / March / 20

A short list how to start learning to trade for beginners


There is a lot of information about Forex, but how to start?
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 Some useful advises to start trade

From my point of view, to start learning to trade with zero, you need to start with this:

1. To study the basics of the market, such as the concept of trend and flat, the principles of correction and reversal, which news can usually greatly affect the movement, time of trading sessions, the main price and candlestick patterns. It is the main ones, because if you try to learn each, the newcomer to them will simply get confused and they will begin to seem everywhere. Information can be found on broker's websites or simply on trading sites.

2. Get acquainted with the main indicators like moving averages, MACD, AO, stochastics. Remember that there is no global indicator that predicts the price, they serve to facilitate the perception of the picture.

3. Familiarize yourself with the various trading systems and their principles, there are resources devoted specifically to the description of the systems, and then choose the one that is most understandable to you.

4. To determine for yourself the main TF on which the trade will be conducted (do not start with small ones like M5-M1, it is better to start with H1-H4), change it over time to a greater or lesser extent, if necessary.

5. Open a demo account for the amount with which you intend to start bidding.

6. Start trading on the selected system in compliance with MM, it does not matter that this is a demo. It’s better to start working with one pair. To enter only strictly according to the rules of the system, even if profitable inputs appear, but they will not meet the criteria of the vehicle. This will teach you disciplined trading.

7. Observing the schedule, you should note for yourself the recurring moments and their development, over time this will form the basis of your own TS.

8. It is useful to transfer transactions to the chart and take screenshots of these transactions, as well as do not be shy to share these transactions with more experienced traders who, with a fresh eye, will help you see your mistakes and share your logic of inputs and outputs.

9. When a more or less stable result appears on the demo account and some meaningful picture develops, you can open a real account and start trading in a small lot.

As for books, it’s hard to give any advice, but I wouldn’t get too carried away with them, personal practical experience and discussion of my own and other people's deals will do more good than mountains of theory of various authors. However, the book “A Disciplined Trader” by Mark Douglas will not hurt to read, the psychological component of trading and the causes of errors are well and clearly described there. More often than not the system is to blame for the losses, but the trader himself and his attitude to trading.

Well, in conclusion, it is worth adding that the basis of trade should be put that you should not try to take every movement of the market, it will not lead to good. As you observe the chart, note for yourself 2-3 repeating moments with unequivocal working out and trade only them. It is important to be able to wait for your situation and not give in to the temptation to enter as soon as possible.

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