From theory to practice

[ficko91]

Hello!
I remember days I was confused as you are right now!
I understand you, there is a long way as you mentioned.
Yes, start with a demo account, why not?
at the same time try to watch videos of Reynar Teo, he can show you the road.
Try to know yourself better, then you can make better decisions! Being a scalper or swing trader, etc.

Exactly, you're right

 

[bigdolly]

It's hard to transition from theory to practice because when theory covers only basic cases, price setups which you will on meet on practice can be quite various and their correct handling is what constitutes personal trading experience.

 

[zahra74]

If you feel that you have grasped the basic concepts and have a general understanding of how the market works, it could be a good idea to start

 

[Kradog]

I read these two books. Totally agree with you. Books give a lot of interesting knowledge

I recommend reading Day Trading and Swing Trading the Currency Market, by Kathy Lien. It helped me

 

[bigdolly]

If you feel that you have grasped the basic concepts and have a general understanding of how the market works, it could be a good idea to start

If you've got the basics down and a solid grasp of market dynamics, consider starting with a small live trading account. Apply your knowledge in real market conditions, but keep your initial investment modest to manage risks as you gain practical experience and refine your strategy.

 

[Etedus12]

It's not really necessary to pass all courses about forex if you want to gain some knowledge about currencies trading.
It's recommended if you have enough of free time, but at the same time, first-hand experience is something that can become a greater teacher.
I don't wanna sound superficial and I don't belittle the essence of theory, but everything must be kinda metered.
A bit of theory and then demo trading is the recipe for gaining good knowledge and experience.

 

[Vo32ss]

Guys around here say good words, valuable ones.
I believe that starting with the demo is exactly that thing you shouldn't neglect of.
It's better to dedicate to demo trading more time than it's usually required for new traders to adapt, but you will understand that you are ready to immerse into real trading.

Many guys kick off with the demo, and it's awesome. Sometimes there are situations when brokers have like Cent accounts. You can deposit $10, which will be converted into 1k cents, so you will trade real money and it's even more beneficial from the point of trading pscyhology.

Try different options and then make a conclusion of how to behave further on.

 

[bigdolly]

If you feel that you have grasped the basic concepts and have a general understanding of how the market works, it could be a good idea to start

Yes, thanks to existence of paper trading we put our ideas to practice without any hesitation. Basically no costs if we do something wrong, except maybe the time spent, but still it is experience and it has value.

 

[Manalmeena]

Guess that there are tons of tutorials in the net including the one you are requesting about.
Learning is very important even though it's a super tedious thing, everybody wants to rush, however trading is not a place for rushign whatsoever.
Patience is the thing which should be learnt in the first place. I mean how to stay patient and disciplined, not rushing thinking that you can overplay the market. It usually leads to not very pleasant things.

 

[bigdolly]

Guess that there are tons of tutorials in the net including the one you are requesting about.
Learning is very important even though it's a super tedious thing, everybody wants to rush, however trading is not a place for rushign whatsoever.
Patience is the thing which should be learnt in the first place. I mean how to stay patient and disciplined, not rushing thinking that you can overplay the market. It usually leads to not very pleasant things.

Yes lots of stuff but this is actually a problem because you have to spend some time to find valuable ones. I prefer books and webinars recognized theory and approaches with soild underlying ideas like supply and demand.