New Trader Need Help

Welcome aboard Julio. We have been having a continued market meltdown so there are buying opportunities out there just be careful as the markets can keep dropping prices.
Look around get familiar with our trading community and good info will come your way

 

I think most people on this forum are learning.
No one can confess to know everything about economics & the stock market because it is a soft science.

How I am personally learning about economics is by reading books on the subject such as The Wealth Of Nations by Adam Smith, Value Investing & Security Analysis by Benjamin Graham. Learning from the Big Boys (through 13f filings) and why they make the decisions they make. And making predictions (If i get them wrong even better, then I can analyse what I did wrong).

 

JC welcome aboard
"tell me who frequent and I'll tell you who you are"
meaning tell me what type of trader you are swing-long-short (plan.strategy etc..) and then I might be able to help
look around the forum/threads and you will find a lot info to start with then ask questions and we will help
but don't follow me my type of trading will only confuse you.. it does me sometime

 

Hi A Gray welcome as well
do you think that no one know how to trade and make profit if they don't know >>>> everything about economics & the stock market because it is a soft science?
I might not know all that (but that is debatable) but I know, like most here, how to make some $$$$

 

There are alot of people who profit from the markets and the economy - that doesn't mean they profit on every single trade and it also doesn't mean they will continue to profit based on previous result. It is all about profitability and predictability.

 

Hi! Newbie here..

Is there anyone who could provide some trading strategies for me?

Appreciate it a lot! Thanks

 

Like a poker player, money management is a big factor in being a successful trader or investor regardless of your track record.

 

Hi, when I was a beginner I've tried using scalping in my trading. If you aren't familiar with it you can check it in Investopedia as they define it in the simplest term that you will really understand. At the same time, I am reading this article, Forex Trading Strategy, somehow it gave me an idea what will be my next step in every trading that I'll do.

 

Secrets To Trading For Beginners

A) Look for scenarios where supply and demand are drastically imbalanced, and use these as your entry points.

B) Always set price targets before you jump in.

C) Insist on a risk-reward ratio of at least 3:1 when setting your targets.

D) Only day trade with money you can afford to lose.

E) Be patient & disciplined

F) Don’t be afraid to push the “order” button

Visit Here For More Details: https://www.narnolia.com/

 

“Investing without research is like playing stud poker and never looking at the cards.”
~Peter Lynch

Try to research the techniques for sure it will help you

 

#1 - ****MOST IMPORTANT**** trading is a NET SUM game. You will lose trades and you have to accept this fact before you can be successful. As long as your winning trades outsize your losing trades you will be profitable. Treat each position as it's own thing, but remember the +/- total is a collective effort unless you plan on stopping after a single profitable trade.

#2 - Never trade with emotional money i.e. what you can't afford to lose. It will almost certainly cloud your judgement.

#3 - If you're not an experienced fundamental analyst - stay the hell away from convincing yourself you know the industry of the stock your trading and don't convince yourself that you know how to analyze financial statements. It's pure hubris and swallows up 90% of the traders out there.

#4 - Do not invest based on articles from the internet. They sound intelligent, but you have no idea what the trading performance is for the people who write them. If they make a living posting articles, it's likely they never made it as a trader/investor and chose to make a quick dollar trying to portray themselves as one.

#5 - Be careful of chat rooms. Most of them are designed to fool traders into buying a stock that is actually being dumped.

#6 - "Be fearful when others are being greedy and be greedy when others are being fearful." - Warren Buffet. Always trying to buy a breakout is a losing strategy for most people. The market is designed to trick the less informed "herd" into buying at the peak of a rally and panicking at the bottom in order to complete institutional orders. Avoid all of this by learning to take opposite trades at "the extremes". You will significantly lower your risk.

#7 - They say a stock or market is only trending a mere 25% of the time - which is what makes breakout trading so difficult. There is far more opportunity identifying when a stock has re-entered a prior trading range. Within that range is a price level that is the most active. Use that as a decision for which direction to trade in.

#8 - Study "Wyckoff Springs" and "Accumulation/Distrubtion Model" by Richard Wyckoff. Study candle/volume relationships presented in "Volume Spread Analysis" by Tom Williams. Finally, learn either "Market Profile" or "Volume Profile". Each will teach you to identify the footprint of a stock move. The more you know about "how" it moves, the better you will be at either joining it or trading against it.

#9 - Price "indicators" are mostly a waste of time and clutter your charts. They represent lagging or "past" information and only adjust long after price already has.

 

^^ great post rock. i feel this needs to be a sticky somewhere.

 

Words of wisdom right there Rock. I am guilty of a couple of those examples, hopefully not anymore though. #'s 3,4 and 7 come to mind for me.

Funny how some things just "click" when you hear someone else say it. Or write it in this case.

 

Just an idea here. But, perhaps we could take Rock's post and copy it into its own thread, then have that thread pinned to the top of this section here? It's such a good post I feel it should be in its own thread rather than have it buried down here in this thread. JMO.

@Hoghead yeah I'm sure a lot of us were guilty of these when we first started out.

 

I also have one question here.
what are the different factors I should consider while entering in a forex market?