Best learning structure for a beginner trader?

[MR.87]

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]

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.

 

[HeavLeighGill]

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.

 

[WalletInvestor]

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.

 

[momo3HC]

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]

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

 

[AliForexTalks]

The best trading platform for beginners is Power E*TRADE. E*TRADE offers Power E*TRADE as both a browser platform and mobile app. Power E*TRADE is excellent for beginners because it provides paper trading, HTML5 charts with automated technical analysis, and screening tools for both stocks and options.

 

[momo3HC]

The best trading platform for beginners is Power E*TRADE. E*TRADE offers Power E*TRADE as both a browser platform and mobile app. Power E*TRADE is excellent for beginners because it provides paper trading, HTML5 charts with automated technical analysis, and screening tools for both stocks and options.

And it`s a worldwide unknown... NO THANKS.

 

[TickCOM]

It is not only about which platform to use, but what to trade and why. Crypto coins and tokens is the future, true exchange trading as well. No need of leverage, as crypto move 100x more than for example FX. No need for leverage is a game changer.

Investing time-frame, holding months:
Make a portfolio of coins/tokens you think will move x100 or more the coming months. Do not use leverage, just hold the position. For example 100$ in each. When the value of a coin/token has doubled, you sell 100$ and you have a risk free 100$ investment, let it run till x100 profit or more. If you try do the same in FX with a high leverage, you risk to loose all, you cant just let it run.

Intraday trading time-frame, holding minutes hours:
If you intend to make trading a living, you would be in day trading. Can be automated trading, alert trading, or discretionary trading. In any case, you need a modern full featured desktop trading platform, where you can be in full control of custom content; indicators, charts, strategies - giving you an edge.

One would typically use both above time-frames.

 

[momo3HC]

It is not only about which platform to use, but what to trade and why. Crypto coins and tokens is the future, true exchange trading as well. No need of leverage, as crypto move 100x more than for example FX. No need for leverage is a game changer.

Investing time-frame, holding months:
Make a portfolio of coins/tokens you think will move x100 or more the coming months. Do not use leverage, just hold the position. For example 100$ in each. When the value of a coin/token has doubled, you sell 100$ and you have a risk free 100$ investment, let it run till x100 profit or more. If you try do the same in FX with a high leverage, you risk to loose all, you cant just let it run.

First, you`re absolutely right about the leverage in crypto. Do not use high leverage. The max is may 5 to 10x.
Secondly, your Investing time-frame, holding months ides is not bad but please apply reasonable targets. 100x profit is not something normal and daily happening.

 

[momo3HC]

You are a great fellow, you have already studied a lot of information in two weeks. In fact, there is now a very large amount of information on the Internet that will help you with this. And a large number of assistants who will guide you on the right path and help you build the right and successful strategy for trading. For example, I can advise you Streetbeat application that will give you the opportunity to invest and trade. Even if you don't know how to do it. For example, when a client sees a proposed stock or trading strategy, he can invest directly in the application.

Watch out with such "offers".

 

[momo3HC]

If there were a fixed structure, then everybody would be following it and making money. You have to see what works for you. Only thing that you can’t ignore: practice. Just like to know how to drive, you have to sit in a car. In order to learn trading, you have to take risks. You can go slow initially, understand the market, get consistent, and then aim for bigger trades.

Solid advice.