With a little reading a day for several days days I am at elementary school and went trough half of it. I don’t play a lot because I had no idea what I am doing. Now I am at the Japanese candlestick patterns. I understand everything but I won’t be able to remember all. So I am wondering should I continue reading and playing from time to time. Or should I focus on playing and read when I’ve seen a few things for real. Could you recommend the best strategy for reading-playing optimization. Because I can read all day but this might not be useful and of course I could only play and never read and this won’ be useful too.
Whichever way you want to go with it - I went through entire babypips school in 1 day because i found it fasinating - of course - I had to go back through a second time - when I started playing - and then and again go back to look things up.
Hey candlestick patterns are very important in forex trading, in my opinion. For me, I think practical is more important, and if you trade more, you will eventually find the kind of strategy that suit you most. Reading is important, but that is only experience of others, so only if you trade more, you will find your own experience in trading. Hope my opinion can help you.
You can only play with what you know so you need to do a lot of reading until you pick a book up and it sounds like every other book you read.
Keep playing and put what you learnt into practice
A head full of knowledge is useless unless you put it into practice.
There should be equal balance between reading and playing. Playing will give you real trading knowledge while reading will enhance your trading styles and lead for making profit.
ist really up to you, you can read some then play some just to get the main idea and different termenologies i guess, or you can choose what works for you best, some learn more by reading and others learn faster playing best of luck and donot hesitate to ask any about anything, people here are really cool
Trading without enough knowlege builds bad habits that will hurt you later on. Also, try not to look at it like a game. This is a business. If you want a game go to Vegas.
I agree wtih jollygreenfello. You should really drop the word playing from your vocabulary when talking about forex as it could create an unwanted mindset for later.
There is a rule that the human mind will forget 80% of knowledge gained within 3 days, and it will continue to lose new knowledge over 21 days until it settles down at retaining about 3%. (Always wondered why I struggled with exams! :D) To prevent this keep on going over material untill most of it ‘sticks’. Some guys say they never stop learning, and never stop reading material related to trading. This goes hand and hand with experiance of actaully trading - first with demo then with live. You can read all you want but if you don’t actually practice what you have learned then it’s pointless.
GLGT