I repeat every single word of my last answer, specially the second paragraph.
How to learn to trade?
- Thread starter Mikkel
- Start date
Hombre, look at your ridiculous questions. It tells it all. No need for crystal balls. Good luck. I know you will remember my words when the time comes.
I prefer to take into account the words of those who try to help.
Your words are full of senseless hate, what tells me that you are not very satisfied with your life and you have to criticize the others to be happy with yourself.
And please don't go back to this thread, this is a thread asking for help, not for a grouch's hate.
Bye.
Do you want to daytrade? Few minute scalps? Hours? Swing for days?
Utterly clueless? Want to try them all? Demo accounts are free.
If you have a couple hours set aside to try short term trading, think about what markets are open and the probability of them being good for short term trading at that time. Even if they suck most of the time you are available, you should still be trying it. When you are starting out the experience you gain is more valuable than any potential money. (You are probably going to suck anyway and that’s ok; despite what you may read here, almost no one starts and is magically immediately great.) Start with a paper account or the smallest live account you can. It’s okay to trade for pennies or dollars at first, since you are probably going to be LOSING that money, you should be making it as SMALL not as big as possible.
If you want to swing trade, start swing trading similarly.
You need to start figuring out something you can do that makes sense to you and you need to start learning the lessons that come from your earliest initial attempts at trading, the sooner the better imo.
I think a small live account is better than demo, because it forces you to think about it more realistically. If your account is X and you’re in a position that is down 50% of that, that’s better than demo because you won’t be in the mindset of “oh when I do this for real…” You will be dealing with it for real right then. It forces you to stay small and stay realstic. When you see a better opportunity but can’t take it because your money is already tied up in a crappy trade - you are starting to learn something valuable.
Again, this account should be AS SMALL AS POSSIBLE. Don’t let people make fun of you or give you shit because you have a $500 account and made 50 trades and now it’s at $425. You’re not trying to make a living off your first small account, you are trying to start to learn how to trade.
Long story short, you need some kind of start. You should be making the most of whatever experience you can get. If it’s not much time and a demo account, then at least start with that. But start!
Utterly clueless? Want to try them all? Demo accounts are free.
If you have a couple hours set aside to try short term trading, think about what markets are open and the probability of them being good for short term trading at that time. Even if they suck most of the time you are available, you should still be trying it. When you are starting out the experience you gain is more valuable than any potential money. (You are probably going to suck anyway and that’s ok; despite what you may read here, almost no one starts and is magically immediately great.) Start with a paper account or the smallest live account you can. It’s okay to trade for pennies or dollars at first, since you are probably going to be LOSING that money, you should be making it as SMALL not as big as possible.
If you want to swing trade, start swing trading similarly.
You need to start figuring out something you can do that makes sense to you and you need to start learning the lessons that come from your earliest initial attempts at trading, the sooner the better imo.
I think a small live account is better than demo, because it forces you to think about it more realistically. If your account is X and you’re in a position that is down 50% of that, that’s better than demo because you won’t be in the mindset of “oh when I do this for real…” You will be dealing with it for real right then. It forces you to stay small and stay realstic. When you see a better opportunity but can’t take it because your money is already tied up in a crappy trade - you are starting to learn something valuable.
Again, this account should be AS SMALL AS POSSIBLE. Don’t let people make fun of you or give you shit because you have a $500 account and made 50 trades and now it’s at $425. You’re not trying to make a living off your first small account, you are trying to start to learn how to trade.
Long story short, you need some kind of start. You should be making the most of whatever experience you can get. If it’s not much time and a demo account, then at least start with that. But start!
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It's always very nice to see that there's people that expend his time helping others. Thank you very much ferdinand.
I'm going to start on a demo. There's any good strategy for beginners? I mean an easy one, not a very profitable.
Thank you so much!
Chicken and egg. If you want to swing trade forex, you can certainly find a book about that. Read it and pick a strategy that makes the most sense to you and start messing with it. Then you have some experience, better questions, and know what else to google/search/read about.
If you have NO CLUE what to trade or when, get into the library and grab every trading book you can find and start reading. There should be an overwhelming amount of ideas and inspiration. Find one you can try with the timeframe you want and time you can make. With your experience, reading, review, thinking, you'll have more ideas to try and more to learn from. Things to steer away from, things to try more, things to put on a back burner, etc.
If you have NO CLUE what to trade or when, get into the library and grab every trading book you can find and start reading. There should be an overwhelming amount of ideas and inspiration. Find one you can try with the timeframe you want and time you can make. With your experience, reading, review, thinking, you'll have more ideas to try and more to learn from. Things to steer away from, things to try more, things to put on a back burner, etc.
Hi, Mikkel
Most have given you good advice. Except volpunter of course. He's a troll. Do yourself a favor and put him on ignore.
My two cents:
Stick with demo accounts until you are comfortable trading. There's no rush at this stage of your life.
Timeframe: start with eod (end of day) data as your basis. You can always go to higher or lower timeframess from eod if you want to later.
Instrument: you already have MetaTrader so maybe try forex first. If that is a poor fit, try trading stocks. Futures and options are more advanced stuff and require a lot of study before you try trading them.
Strategy: here's the most fascinating part (for me anyway). Which strategies are you familiar with? Which one makes the most sense to you? That's the one you start with -- in a demo account. If that doesn't work out, go to the second strategy that makes sense to you. And so on and so on.
Good luck with your training.
@Mikkel
i have something for you to try it for yourself, rather than to read many many trading advices here and elsewhere. at the same time, taking into account what many traders have advised you what to do or what not to do; take a close look at the attached trading chart taken last thursday, 2015-09-10, about 3 pm;
and ask yourself some basic questions such as, what was traded? time frame? this chart has two panels, know what they were? et cetera....
maybe if you can tell what you know from the attached chart, many traders here can help you to get to the next level of learning much easier and, of course, at their convenience?
wanna give it a try? have fun.
but if you do not know something, say so and ask, many traders here would be glad to help
you out, K? and many have better trading charts than mine, for sure. and there are even
much better traders than myself here too but they mostly do not talk much nor avail themselves readily. however, if they feel they can help someone to propel himself/herself
to the next trading level, they might just pop-in momentarily. you owe nobody nothing,
for nobody gives you no nothing, as a begrudged floor trader exclaimed.
i have something for you to try it for yourself, rather than to read many many trading advices here and elsewhere. at the same time, taking into account what many traders have advised you what to do or what not to do; take a close look at the attached trading chart taken last thursday, 2015-09-10, about 3 pm;
and ask yourself some basic questions such as, what was traded? time frame? this chart has two panels, know what they were? et cetera....
maybe if you can tell what you know from the attached chart, many traders here can help you to get to the next level of learning much easier and, of course, at their convenience?
wanna give it a try? have fun.
but if you do not know something, say so and ask, many traders here would be glad to help
you out, K? and many have better trading charts than mine, for sure. and there are even
much better traders than myself here too but they mostly do not talk much nor avail themselves readily. however, if they feel they can help someone to propel himself/herself
to the next trading level, they might just pop-in momentarily. you owe nobody nothing,
for nobody gives you no nothing, as a begrudged floor trader exclaimed.
