New Trader need a quick start guide into Forex trading

[Hoggums]

I think the words

need a quick start guide

told us a lot about the OP. He wants to get in quickly and make a load of money - that's what it's saying to us. He has no patience and doesn't appreciate the dangers of what he's about to embark on.

Yes some posters have been quite negative - but a lot of that is due to the OPs first post and the impatience shown.

What I would say to the OP is to put those thousands away and get a few hundred out. If you turn out to be any good it will be a few thousand in no time - and if not then you've not lost a lot.

A Ph.D. makes little difference in this game. The market is not logical - it does not follow rules. If this is your plan for making a living - go back to previous plans - I don't know of anyone who started out with this intention and made it. If you search google you can find plenty of accounts of people who failed.

You would not expect to be able to pick up a musical instrument and start playing it straight away, the same goes for trading. Practise and experience are things that you cannot short cut.

Find yourself a proper career while you learn trading in the background.

 

[BeginnerJoe]

If you turn out to be any good it will be a few thousand in no time

Seems like a bad advice for a beginner. To make 1000% quickly can only mean gambling. The worst thing to happen is to gamble and win because it will cause even greater gamble, as much as going all in, which would result in inevitable disaster as portrait by your pic.

 

[Mr Woozel]

I think the words



told us a lot about the OP. He wants to get in quickly and make a load of money - that's what it's saying to us. He has no patience and doesn't appreciate the dangers of what he's about to embark on.

Yes some posters have been quite negative - but a lot of that is due to the OPs first post and the impatience shown.

A Ph.D. makes little difference in this game.

Agree with the first bit and get the feeling that alot of these newbie posts are wind ups.
A decent analytical PhD could be useful though in that it should indicate that someone can think for themselves and problem solve. Not that a PhD is necessary for this.

 

[rsh01]

Hi antvel,
These are good articles - they are fx specific though but still worth the read, written by an institutional trader (who isn't trying to plug anything).
Articles - Search Results

Good luck with your journey, I wldnt just discount certain markets cos of what you have heard, chart them up and monitor them for a while - you may find some markets will suit your style of trading (when you are a bit further down the road) more than others. I wld suggest looking at other indexes, and perhaps some commodity markets also - gold, oil (crude light/brent).
If you do a search on this and other forums you should be able to find some decent trade journals also, even some of the crap ones are worth a skim read as they reveal the difficult journey which lays ahead of you.

 

[NVP]

If he walks after such a minor mauling here then we have saved him thousands of pounds and years of angst ....

N

 

[BeginnerJoe]

If he walks after such a minor mauling here then we have saved him thousands of pounds and years of angst ....

N

No, if he doesn't lose a small amount of money now, he will just end up losing much more when he has much more later on in life. So the saving would be a false economy.

To be in the markets is unavoidable. It saves significant amount of money to have some understanding for them while young.

 

[jabba917]

What?! I really have no idea what you are saying.

Misread your post, soz