Courses/Books for a Newbie Wannabe Trader...

Tak

Newbie
3 0
Hi ,

My first post, I am relatively new to trading , have done Spreadbetting on FTSE and Dow in the past. Made some money lost some as well.

I currently have a career in IT but wish to go into trading fulltime.
I dont wish to make millions overnight ideally fixed % profits and Compound them over a year. I am looking for quick scalping profits .
Also very interested in Software and any AI Bot type stuff which can trade fast.

What are best areas of trading for a beginner?

What would you guys recommend to increase my knowledge and experience.
Any Books/courses/webinars etc you have found useful??

Also MINDSET, how does one develop the Traders Mindset, Immune to losses and disappointments??

Any feedback back appreciated.


Regards



Taka
 

Zelo

Junior member
20 1
I tried Hector's trading course once. It's a simple method to follow the trend.

I think you can find it for free on the internet.

Good luck!
 

bredin

Member
80 20
If I had my newbie time over again I would avoid both trading courses and robots, since they taught me nothing at all about trading.

And indicators. Although they were useful in that they taught me quite a lot about what not to do.

Check out Sam Seidens vids on FXStreet, since they provide insight on the only thing that makes price move in a market.

Almost any book on success will be of some use, and almost every successful trader i know will recommend "Trading in the Zone" by (i believe) Mark Douglass. someone will correct me if im wrong. I personally would recommend "Think and Grow Rich" by Napoleon Hill, even though the language is a bit archaic, and "Rish Dad, Poor Dad" by Robert Kiyosaki as an intro into the right mindset and thought processes.

B. (Not a complete list, but you dont need information overload, either)
 

billyjean

Active member
120 5
Hi, Tak welcome aboard.
First of all you may need to nailed this one : if you're new focusing in learning not earning.
t2w already give their lead upon this link :
http://www.trade2win.com/articles/r/getting_started
if you want to start learning from the very beginning, and advance as your reading advancing, babypips has a wide range teaching material.
http://www.babypips.com/school/ it has structured course outline.
while some traders more prefer an informative way of learning, instead of reading they prefer to watch video tutorial, you can find many in youtube, but most of them are too long to watch, some video are over 2 hours duration in single link, found this one well informed video, and more interactive video tutorial, you can select which one you need to watch, based on your knowledge level, each video only at average 3-5 minute duration, you may check at : http://www.armadamarkets.com/video-tutorials/
minor mindset you may need to change : Also very interested in Software and any AI Bot type stuff which can trade fast. it's not even a software not AI bot, it's an automatic version of manual trade strategies, means if the manual system are good, the automatic version literally having good result too. so better start you learning, polish your knowledge, dont ever stuck with the way of thinking to build an automatic trading system based on idea only.

all best for you, and good luck.
 

PollyM

Active member
195 7
Hi Tak, best wishes.

Retail traders have there work cut out for them, but with perseverance you will get there.

I've just seen yet another post this morning quoting the age-old failure rate.

This is because much of the guidance is now outdated, and if you're into IT you have a leg up.

Having said that, keep it simple to start with (and end with). Search for the INDE benchmark on google - it's principally a benchmark system for new traders, a watchdog so to speak, with open source software. Still in formative stages, but growing at a rate now.

Hope this helps.
 

PollyM

Active member
195 7
Oh, and on mindset. No need to caught up too much on this - you'll find in trading, and in all walks of life for that matter, that this only becomes an issue when you do not know what you're doing.

Once you see the comparables that the benchmark is calculating through, and which you are able to replicate using the same platform, you are much better able to weigh up the balance of profits and losses, and so your emotions will have less sway over your decision making.

There are some who make lots of money confusing others, when it is themselves who are confused. No need to get involved in those shenanigans.
 
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