100 things you need to know before you Trade real money

[NVP]

Hey all

Trading is an active style of participating in the financial markets that seeks to outperform traditional buy-and-hold investing. Rather than seeking profits from long-term trends in the markets, traders look for shorter-term price moves to profit in both rising and falling markets.

ok heres a challenge .............I am always telling newbies to go wander the trading forums and (free) learn to trade threads for many many months before they start to use real money ............experiment , research and learn the many many ideas and avenues in this fascinating business before even thinking of putting hard earned dollars on the trading table

so here we go ..............tell me the 100 subjects / ideas / principles / things that a newbie must have read and learned about in trading before they start in earnest .........

we will end up with more than 100 ....but who cares :smart:

N

 

[NVP]

The Main Markets on offer and their particular characteristics

Stocks and Shares
Forex
Bonds
Commodities

that'll do ........

 

[NVP]

How you do physically trade these markets ?

Brokers and trading Accounts

 

[NVP]

understanding Charts - the "window" to trading

 

[NVP]

Standard indicators used on charts

lets say a few of the most widely used and discussed for starters ?

Moving averages
MACD
RSI
CCI
Fibonacci
Bollinger Bands
Stochastics
SAR

that'll do (?)

 

[NVP]

Trading Styles

Position
Swing
Day
Scalp

 

[NVP]

Technical Analysis vs fundamental Analysis

(should have put that in earlier ......)

 

[NVP]

Trend

 

[NVP]

Support and Resistance

 

[NVP]

Money management

 

[NVP]

Chart patterns

 

[NVP]

Risk

 

[NVP]

Stop losses

 

[NVP]

ok I need to scoot - cmon bring it ..........not too much re detail (unless you want to)

lets just build that 100 things to learn and Know .........

N

 

[Forexmospherian]

Hi N

A nice idea for a thread ;-)

100 things - I reckon you should have started off after a 1000 - there is just so much to know before you really risk your own real money - but when i started i though you only needed to know about 10 or 20 main things - yes - I got taught a lesson probably like 95% of us.

I genuinely did not realise it would take years to get a fairly decent level and make consistent profits.

I though - 1 - 3 months on demo - then live and within 6 months or a year - i would be a professional FX trader and would be profitable.

I know there are traders who do make it under a couple of years - and are good and carry on being successful - but for me even in year 3 ( although part time then) i could be very good on demo - but as soon as live - my emotions took over and I was having great highs on runs of 3 or 4 wins - and then just so frustrated when one loss would wipe out all my good trades.

I also know now many suggest going live within a month or so - but just on micro or mini lots - so you experience losing real money - and then that will make you take it seriously and then you will not wipe out a few $1k accounts.

No one mentions it can be so addictive - especially if you do have beginner's luck and double your small account in a month or so - and then you think - got it - i am on my way to the big time - stick £10k in a new account and then the next 2 months - lose all of it

It takes what 5 -7 years to train to be a vet or a doctor ( well actually a lot longer ) or a lawyer or a architect etc etc

Why do traders think 1 or 2 years part time is all you need ??


Regards


F

 

[NVP]

c'mon F ...........

put a subjects / titles up !

 

[NVP]

and everyone else here at Trade 2 win ...........this is not a mega discussion thread I just want to get a few subjects up that we all expect good traders to be very conversent with

 

[tar]

Max DD or Max drawdown .

 

[Forexmospherian]

At least achieve 100 swing trades - over 6 months or a year - and scalpers - at least 500 trades over 3 or 6 months - on demo separate to back testing

 

[Forexmospherian]

Understand the sessions you expect to trade in ie European / US / Asian and make sure you look at daily calender of news events to see all the times that may have an effect on the instrument you intend to trade.