Best learning structure for a beginner trader?

MR.87

Newbie
1 3
Hi all, I’m pretty much an absolute beginner at trading and was wondering if anyone had any tips on what I should be learning first? I only started 2 weeks ago and I’m very committed to learning. I’ve been learning about technical analysis, risk management, entry triggers, etc etc but all the info I’m reading/watching can be overwhelming. Like what should I learn first? I should focus on technical analysis or fundamental analysis? Or should I look for what broker and software to use? Should I learn how use all the tools to read charts properly? Or maybe risk management and setting stops? Should I pay for a beginners course and if so what one? Is there a way I can go back and study losing trades to see where I went wrong or pages on this forum where people talk about their mistakes?

I’m looking to structure my learning better so I can get a fundamentally solid strategy and I’m not just picking up little bits here and there and wasting a lot of time and money trying to learn things I don’t understand yet. I’ve started trading penny stocks with a very small amount of capital (which I know I’ll lose but I’m looking at it as a tuition fee) so I can get the practice I need. I’m wanting to get the most out of it and learn the maximum I can from it. Any help here will be greatly appreciated, thanks!
 

WalletInvestor

Active member
120 31
I think there is no exact answer to what order is best. The things you have been learning about is a great start. But if you want to make a structure for yourself, I would say check out the table of content of various books and courses and make a plan based on that. It could also be a good idea to start a demo account and see what questions and problems emerge as you try to get started with the process of trading.
As for courses, there are free courses available and maybe it is best to start with those.
 
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no_frame

Junior member
44 7
It is very difficult to find out what you are trying to learn for. But first thing I think you should do is to find out what you are aiming for in the forex trading. And then you can start learning via online courses or forums, like babypips, forexfactory and some more.
Like someone said above me, it is a good suggestion to start a demo trading as well and stem out the root of the problem that you are facing in the trading.
 
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HeavLeighGill

Active member
115 31
It sounds like you’ve been diving into various categories and covering a lot of ground in the first two weeks. I’m assuming you’ve grasped beginner concepts already (terminology and etc.) so I would suggest you continue looking at strategies and intermediate level material. As for software and choosing a broker, you might want to consider looking at options because it would be good for you to open a demo account in the meantime.
 
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pipfighter

Junior member
33 6
Quite amazed at how far you have come. In forex world, you have to understand that the topic is pretty much vast, so you might not know where to start from.
If you have done both analysis, you should be able to grasp the concept of how forex trading works, so why not just take this opportunity to start demo trading with any broker. But I must suggest you to pick regulated one, so that you do not have to worry about the safety of your funds. Once you got the right broker, start framing the strategy while doing demo and start looking for the way where you can make profit and what make you difficult to do so. That is all which can be done in demo trading.
Hoping good things come from you soon!
 
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sebking1986

Active member
206 69
Babypips education (if I can say that here) is a good place for a total novice. After that I found that ICT YouTube was a good fit for me.
 

WalletInvestor

Active member
120 31
Babypips education (if I can say that here) is a good place for a total novice. After that I found that ICT YouTube was a good fit for me.
I'm a bit on the fence with ICT because I heard a lot of negative criticism about it, but I second BabyPips, their online course is pretty good.
 

sebking1986

Active member
206 69
I'm a bit on the fence with ICT because I heard a lot of negative criticism about it, but I second BabyPips, their online course is pretty good.
He likes to chat but personally I find gems in his content on YouTube and think that you can make money with the information he provides. But there are many ways to skin a cat. Some swear by trendlines and indicators and others using pure price action etc. I think you have to try these things and take with you what worked and add to it as you go. For this reason I don't believe in a single strategy paradigm that so many "mentors" offer.

What's to say that particular method works well for someone in terms of time spent, mentality, patience, risk tolerance etc.
 
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dutchy1986

Junior member
15 2
It’s hard to fully say as some people will learn by written instructions and others by forums chatting etx
 

WalletInvestor

Active member
120 31
He likes to chat but personally I find gems in his content on YouTube and think that you can make money with the information he provides. But there are many ways to skin a cat. Some swear by trendlines and indicators and others using pure price action etc. I think you have to try these things and take with you what worked and add to it as you go. For this reason I don't believe in a single strategy paradigm that so many "mentors" offer.

What's to say that particular method works well for someone in terms of time spent, mentality, patience, risk tolerance etc.
I see your point, and in this case I'm glad you find it useful - I mean, considering several strategies and opinions is a great thing to do, what I don't agree with is when people stick with the advice of a given mentor religiously, like I have sometimes seen with followers of ICT.
 

rochellcurtin

Junior member
20 3
I think you already know quite a lot about basics, you should start implementing your knowledge on a practice account. Reading charts, applying risk management and using tools etc is better learned through practice.
 

earlchristensen

Junior member
40 5
There is no proper structure when it comes to trading because you become a better trader as you trade. For newcomers, it is essential that they clear the foundations of forex.

After that, they can start working on three types of analysis: technical, fundamental, and sentiment. You should know how to read charts and analyse news. Managing your emotions is equally important as well. Experienced traders call forex “a deep ocean.” You learn the most while trading.
 

momo3HC

Active member
202 61
I think you`re in a wrong way. Don`t focus on a particular part from the trading. Start from A and finish with Z without missing any letter. That`s the way.
 

NVP

Legendary member
37,767 2,101
Sorry - i'm not allowed to direct you onto certain "websites" where i have a lot of guidance and advice for beginners :)

however if you fancy Forex then Babypips is pretty good for beginners ...just dont get sucked into the many people trying to sell you something ....jees they are a closed mafia there (i got banned years ago for calling some of them out...still not sure why)

N
 

vivanbaylor

Junior member
19 3
As everyone is a different type of learner, I don’t think there is a perfect learning structure that fits the learning needs of every trader. It is better for traders to choose the best option out of different options based on their learning style. Remember not to follow anyone’s advice blindly.
 
 
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