I would start with everything free that you can find online, like what’s on this website. Hands down learn as much as you can about support and resistance, trendlines, and basic candlestick patterns. Indicators should be considered optional - there are many very good traders who use only raw price action, but some like indicators to add confirmation to their trades. Don’t blow a bunch of money on expensive courses - in my opinion you have to learn this business on your own as an independent thinker. Be skeptical of all the “gurus.” One book on basic classical technical analysis to start with is “Getting Started in Technical Analysis” by Jack Schwagger. There’s some old school systems trading stuff - but you will get the gist of all the basics you need to know. For more advanced TA - the Al Brooks books on Trends, Ranges, and Reversals are good, they have helped me as a trader - but they are dense and a lot of work to read. Bottom line - put in screen time, and study the crap out of the charts for yourself - as with music - learning theory provides foundation - but just because you read some theory doesn’t mean you can play the piano - you have to actually start hitting the keys and practice it.
What are you looking to learn specifically?
You’ve come to the right place, but now the hard part begins (and doesn’t ever really stop)…You need to figure out what strengths you maintain as an individual and how you can apply those to trading.
Elliot Wave (very flexible, you can become a swing trader, intraday trader, even scalper)
Why i reccommend this? because in my point of view a lot of strategy can be seen using Elliot wave.
(pattern, advanced pattern, Bill William alligator, etc)
Basically Fibonacci with support and resistance.
Thanks,
Those templates are very similar to what I am looking for.
Do you use any of these systems?
There’s a ton of free material on the web that go over these aspects of trading.
Make a 200-300$ investment on highly rated books on Amazon and read up on the markets first.
Do yourself a favor and get ahead of the crowd who is lazy and looking for a shortcut.
Just as in life, when it comes to learning how to trade you’re only going to get out what you put in.
Half-ass it, and you’ll end up like the majority of traders- in the red.
Not really half-assing it as I have been trading for a year and a half. I have read around 4 books, I am looking to expand my knowledge.
Hai, just want to share my personal experience with you.
2 or 3 years ago i was following dozen of famous seminar and read dozen of books. i spend a ridiculously amount of money to learn. more or less about $30.000.
Well Most of them just teach the same like i saw in babypips so I consider most of the seminars and books did not worth it.
But the good things is - I never blow up my account.
But my money that I investing on Learning seminar did not go to waste, at least at the last moment it direct me to A great teacher and trader. I end up Learning from person that i know from one of the FOREX forum.
and He is not even famous. but he do can teach by example. What i think right now that there is a lot of famous seminars and books did not teach well but one thing i know for sure, They Famous because They do have Great Marketing Division and Ability.
In my opinion, Elliot wave is working for me. and you should put Elliot wave as your reference.
You don’t need to trust me - but please be sure to check and learn this principle.
I know it is hard to understand Elliot Wave, But It will help you a lot.
I learn Elliot wave from books, youtube, forums, you name it. and i spend 6 month with a mentor Learning calculating the waves in the chart everyday.
Good Luck:)
I could not refrain from commenting. Perfectly written!
I will right away take hold of your rss as I can not find your e-mail
subscription hyperlink or e-newsletter service.
Do you’ve any? Kindly permit me know so that I may just subscribe.
Thanks.
Many thanks!
Youtube!!!
The majority of people who ask for money in exchange for lessons end up shilling their own strategy instead of teaching you how to form your own.
Combination of trial and error plus watching/reading up about other peoples strategies is a great way to come into your own.
This!!!
I once had to kill time in a different part of town so I went to the local library and decided to investigate their collection of finance books. I flipped through 3 different books about forex and they were more or less the exact same things you would find at the free Babypips school.
I looked at the MSRPs on the books and they ranged from 70$ to 110$ CAD!!! Kind of want to write a letter to my local city councilor to tell them to stop wasting taxpayer money on these rip off books.
I’m with Dutchtrader. Go thru the entire School of Pipsology. Takes you step by step, with review, tests, etc. I also like learntotradethemarket.com. with Nial Fuller. Keeps it simple. But you have to decided what you want - day trading, swing trading, LT…find what you’re comfortable with and go with it.
Go naked. Without indicators that is. Let the charts talk to you. Technical analysis has only been devised to confuse.
I liked Nial fuller my self. I trade following his method, but I do add up some of my own teaks in my trading method. Main method is same like Nial fuller’s.
I heard good things about Nial, I might pick up his course.
There are many courses on offer by many expert traders but you can check for any particular course and see if users and given good feedback about him. Don’t buy any course blindly or just by looking at some big profitable trades.
Yes; I can strongly recommend[B] this one[/B]. (Currently available half price).
The author is very much “The Real Thing”: someone who makes his money (and has done for a long time) by trading himself very successfully, not mostly by selling trading information.
I’m using its contents every day, and have always done well with them.
Don’t imagine that the course will be particularly difficult to follow and learn from just because the author’s textbooks have that (somewhat justified) reputation. The online course is far more approachable, comprehensible and logically set out. I’m always surprised that it’s not better known and more widely recommended. I can only imagine that the difficulty of his textbooks has put people off the author, which is a shame, albeit perhaps understandable.
(And no, if it needs to be mentioned: I’m not in any way affiliated with the course or the author, or trying to “promote” him. Just a happy customer.)
Hello Ryan,
To be honest, if you want a really good course you’ll have to spend a considerable amount on a top course (and I’m not talking about “forex gurus” that are really marketers but don’t show actual proof of their performance. For example, right now I’ studying a course that even though it was a bit above 2k, it’s worth it as the teacher has a live and verified trade record of profitable years which anyone can see. I’m telling you this because I can share my course with you if you get another course I’m interested in and share it with me. This way, instead of each of us spending above 4k, each will only spend less than 2k and we can give each other feedback. if you’re interested, send me a message so that I can tell you which premium service I have and we can see if we’re a good match 