Some question and general thoughts

[Molly141]

Hi Guys,

Am still a newbie. Currently am studying the Education here on the website. Started to get acquainted with candle patterns, Fibonacci, moving averages etc and simultaneously reading The New Science of Technical Analysis from Thomas R. De Mark. Could someone suggest me some other books to read? I had some other from Andre Kostolanyi, which is more about stock market and people's behavior but pretty interesting thought and useful as well. Also could some of you share with me yours experience, when did you start to trade with real money? Currently I do not have my strategy done, I am practicing on demo account and trying to put it together. Then once I am able to do trading continuously with profit, I want to start with real money. Not sure, that first with bigger amount. I was thinking to start with few hundreds bucks, just to get used to it in my mind that I am trading with real money. Any suggestion or feedback from you guys who already have done this road? Also if by a mistake someone is from London and like to talk about trading, let me know and we can meet up sometime , the coffee is on me. Cheers guys and have a good weekend

I am a newbie too. Learning lots.

 

[Gateluri]

Outofphase gave excellent choice of books. However, I am afraid that they might be a little bit hard for understanding for beginner traders and those who don’t have economic background. Anyway, I would encourage all traders to read them as they will provide more insights in financial markets

 

[Molly141]

Outofphase gave excellent choice of books. However, I am afraid that they might be a little bit hard for understanding for beginner traders and those who don’t have economic background. Anyway, I would encourage all traders to read them as they will provide more insights in financial markets

Not something I have heard of.

 

[Anthony23]

David, I think that you are on a good track. Just try to use demo account until you perfect your trading strategy and then try it on real account with small amount. Keep in mind that trading on live is different from demo account as on live acc psychology plays significant role. Good luck!

 

[Froso@FXNET]

David, I think that you are on a good track. Just try to use demo account until you perfect your trading strategy and then try it on real account with small amount. Keep in mind that trading on live is different from demo account as on live acc psychology plays significant role. Good luck!

Psychology and emotions are the real things in live trading so one should practice in live account with minimum lot size because you have to train your emotions. In demo account, you cannot master a method no matter how much success rate you achieve.

 

[Glastonburyk]

I’m new here too looking to make Some friends and learn from better people than myself. Where do you think is the best place to learn strategy on this forum as there are so many?

 

[dylanjessop]

I’m new here too looking to make Some friends and learn from better people than myself. Where do you think is the best place to learn strategy on this forum as there are so many?

SImple support and resistance leverls is a good place to start for any strategy

 

[Gateluri]

The question comes to mind which is the best time to trade on a live account. The answers is when you have some grip on forex market. You should have to do some demo trading on demo account until you understand the market well. When you do all this than the chances of loss becomes negligible.

 

[Notati]

You are a new trader and I want to recommend you start getting educated from teh basic end of the forex trading. You need to learn the things properly and then, implement your learnings on teh live market. It is not too hard but it requires struggle. Are you ready?

 

[Gateluri]

Glastonburyk, welcome to this forum. I think that you are really in a good place to start. As you can see there is “Education” option on this website. You should start learning from there. Also, open a demo account to practice what you have learnt in course. Good luck