How did you learn Forex at the very start - John J Murphy

Hi People,

I know a popular question on these forums by new traders who want to research the area out is where to start. I’ve seen this question arrise on many threads. If im honist it annoys me a little as its almost expecting everything to be handed to you on a plate from the start.

My personal answer would be to look up ‘john j murphy- technical analysis of financial markets’ Many say its the ultimate trading resource. A good point to note is that it really does start from rock bottom, and includes history. Its a big book, about 500 pages, but once you understand every concept I rekon you will be above 90% of most traders knowledge.

The remaining 10%…well only 2% will make the money. its a tough market.

So. Where did you all start from, and what resource did you find most helpful?

James

Hi James,

Im a newbie too and although technically minded, i am an engineer and play with numbers for a living, find all of the indicators very daunting and potentially misleading.

I am trading, albeit demo, based on price action, candlestick patterns and chart patterns. If you haven’t already seen it check out Nial Fuller’s videos on Youtube. These are a very good resource along with his website.

In terms of Candlesticks, one of the most popular books is “Japanese Candlestick Charting Techniques” which is very comprehensive and easy to read. It can be bought as an ebook (pdf) online for a fraction of the price of actual book.

I’ve got both books on PDF. They are great and I recommend them too. =)

Does anyone ignore “price action” seems to be an over used term?