What’s up everyone?
I’m brand new here and to all things as they relate to the financial markets. I’m completely new to forex, BUT, to make up for it, I am the best Mario Kart player that I’ve ever met. Anyway…
I’ve recently become interested in trading FX and/or the ES500 (e-mini futures). I want to start with FX, however, and take things one at a time and go slowly from there. Based on what I’ve been reading elsewhere online - I’m only in preschool here so far- I’m most interested in technical analysis and reading price action Maybe when I grow up and make it to elementary school I will learn some excellent skills.
I live in the US, in VA, and I’m looking forward to getting to know some of you guys and gals.
Greetings FuzzySlippahs, welcome to the BabyPips.com community, and cool name! Thanks for sharing a bit about yourself and glad to see you’re getting started with the School of Pipsology! While Mario Kart skills are undoubtedly on the top of everyone’s life achievements, I wish you well in developing your trading skills because the potential rewards can be much, much greater (arguable, I know)! Looking forward to hear more from ya down the road. Good luck!
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Read:
Methods of a Wall Street Master by Vic Sperandeo (and everything else by Trader Vic)
Trade Your Way to Financial Freedom by Van Tharp (and everything else by Van Tharp)
Everything by Jack D. Schwager
The Complete Turtle Trader by Michael Covel
Way of the Turtle by Curtis Faith
Against the Gods by Peter Bernstein
Everything by Nassim Talib, start with Fooled by Randomness
Learn about Position Sizing, it is the single most important factor to successful trading despite what you may hear. I read a mountain of books before I had even heard of the concept. Most people talk about entries and exits, indicators and signals, discipline and psychology, but they never get around to position sizing. You cannot make it without a position sizing strategy. May you be a capitalist pig and may the gods of randomness bless your NAV.
Ha, Excellent - Thanks, Arbitrager! I’ve heard of at least one of these books (‘Way of the Turtle’) so I might start with that one, just because. And I will get started on your position sizing advice as well.
Thanks again!