As I was browsing through the Forums, I came across this and I will include it as part of what every new trader needs to know:
"" "It does take some time to study it and get used to it. I feel that your biggest problem is that you want success now, you can't have it. The market requires you to put in some serious brain time before it will reward you, you did not become a professional rugby player the first time you picked up the ball, you had to work at it and still do every day. Trading is just like that it takes time and devotion, there are no shortcuts. Nobody ever became a millionaire by borrowing a system or attending some class. Becoming a millionaire in trading takes time, devotion, dilligence and patience. You will get knocked down a few times and will need to dust yourself off. At the end trading will reward those that appreciate it and have learned its nuances. Pick a strategy and practise, practise, practise. An old hand I know told me it would take 10,000 hours of practise to know a strategy, he was not wrong.
Stick to a strategy and start learning, every strategy can be made profitable as long as it works for you, not anyone else, just you. Start reading some books too about technical analysis, there are lots of them written about equities and they work just as well.>>""
This should answer alot.