A total newbie - need to know the strategy to practice candlestick patterns

Community Introduce Yourself
1

I am from Singapore. Not working.
I am a total newbie to forex and trading both. Now i have got to start somewhere. But i have no one to guide me or resolve my queries. I request you to tell me the strategy to get started with forex trading - technical analysis from level 0.

I know candlestick patterns- i read few books on it. What i lack is the adequate practice and i want someone to tell me how do i train myself step by step on learning candlestick charts. Some sort of exercise that i can do daily to get confidence in candlestick interpretation. I have a free account with oanda.

2

Click on the School tab and get studying, its the best learning resource you will find and wont cost you a penny

3

And be patient… it’s not done over the night to become a trader…or a good one at least :slight_smile:

4

Thanks a lot eddieb for your reply. I have been through all the material of pip school. And I must confess, its very helpful for beginners like me. But now I have decided to take a step further and dive into candlesticks. So as i have already mentioned, i want help regarding, how could i train myself in candlestick analysis, i mean some routine( some kind of exercise)i can follow to become expert in candlestick analysis.
:slight_smile:

5

Yeah. I am sure about that Tygma. And i have required patience to be a good trader :slight_smile: . Thank you for the reply.

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With all due respect, according to your records you only spent a week studying a few of the lessons. You scored pretty well, but I would strongly recommend completing the school.
In the end its your money and your choice, but time spent now is money saved later

7

I’ve actually thought of doing the school again…been a while since I graduated and I’m sure that there is more to pick up that I didn’t get the first time :slight_smile:

Ignorance is a killer in trading…what you don’t know will actually hurt you!

8

I totally agree to what you said. I am ready to go through the material even twice or thrice, no issues on that. I would not enter the live market until i am completely ready for it. But, it is only theory. I know that mastering technical analysis will take time and need lots of practice. So simultaneously with reading theory, i can start to practice candlestick analysis. Will you plz help me on that?

9

Sure, I will go through the material again. Thanks a lot for the advice?

10

It would also help to have a lot of screen time and deliberate practice just to get in the habit of watching price action and identifying patterns. You don’t always have to take trades all the time but you can note the usual reaction to certain candlestick formations during particular events or market sessions to see if you can spot tendencies that you can profit from later on.

11

Thanks a lot PipDiddy. This was exactly the kind of advice i was seeking for. Since I have nobody around who actually trade on their own in forex, i didn’t know where exactly to start from. Thanks again. :slight_smile:

12

Hi, be happy to help out wherever I can, ask anything you like and if I cant help Im sure one of the other guys on here will.
I may be a bit slow responding over the next few weeks, Ive broken my Tablet and cant get on here as often as I used to until I replace it, also Im off on my holidays later this month :slight_smile: