Novice Trader- Seeks advice?

[goronwyedwards12]

In the maze of trading software & courses, where do I start? Having read and digested various publications to get an insight into trading I'm still uncertain where, and which way to go, if any!

Do I take the plunge, or carry on reading? Any advice would be appreciated.

Regards
Gron

 

[sethmo]

I'm sure there is a lot of information regarding what you're asking on this forum, however, I'll humour you.

A few tips:
http://www.trade2win.com/boards/first-steps/

The first three stickies should be really useful to you.

Other handy tips you'll probably see on those stickies that you shouldn't ignore as a beginner (like I did and that cost me years of my life):

1. Keep it VERY simple
2. There is no holy grail (system or indicator)
3. See point 1
4. See point 2

If you're going to study any one area extensively, make it money management, rather than systems and indicators, here's a decent start:
http://www.investopedia.com/articles/forex/10/forex-risk-management.asp

Good luck

 

[meva_j]

Unfortunately there is no detailed and well structured, and free resource available anywhere.

 

[sethmo]

Unfortunately there is no detailed and well structured, and free resource available anywhere.

Actually, there is, try:

www.babypips.com

 

[vol-guy]

I would suggest that you understand the microstructure of the FX market: http://www.princeton.edu/~ies/IES_Studies/S89.pdf

Its a deep read but gives a good perspective which you won't find on retail trading forums