Casual progression, you learn as much as you with the time you spend looking at the charts and keeping up with the general feel of the markets. At least, that’s how it felt like to me. I spend 2 hour-ish on weekdays lately.
Oh yeah, S/R and TLs + feeling the market trumps indicators by far. Account got healthier after I discard the prime reliance on Stochs, candlesticks and moving averages. Those took the backseat for me now.
And needless to say, risk management, which you must get right from the start.
LOL! No, it cant just be like that. I said i just want to learn about how the markets work. Im not going to open an account and throw down a bunch of money anytime soon or quit my job to trade FOREX. And using your own analogy if you saw a kid playing tennis you would walk up to them and tell them to quit because they are never going to be good enough? No you wouldn’t. Because there can be other benefits to learning something other than just making it your career. And i think hobby means something else to other people than it does to me. To me a hobby is something that i put an amount of my free time into and that i get something out of. In this case it would be learning something new that interests me. Stop fixating on the word so much. If you want me to call it something else then pick a new word and i promise i will use it.
Even though it’s my first post since my join I’ve got some tips for you.
Well, Forex is a profession, We trade Future Markets or Currency Futures. In other words it’s just “”""“another”"""" financial product (also the biggest), keeping that in mind you’ll be able to understand a little better how the countries make this market up or down, because that’s just one of a thousand other indicators of the big market.
Like Traders, we’ve got responsibility over money management even if they’re ours or others.
There’s a lot of forums, communities, brokers for you to join or watch and that makes it hard to get a true grip of what’s really going on Forex in professional’s opinion.
I’m going on FX professionally since April, I’m trading in Demo account with the initial money I’ll be starting and the correct risk management to it.
After all this blah blah blah (sorry about that <^^") I personally advise to take the School first with time and concentration, maybe there will be lots of things that you won’t understand at first, but later on you will get the message principally.
Secondly: don’t get into any trading system, because they’ll make your head cries with some unnecessary information.
Thirdly: stick to the basics on the 3 big Studies (Technical, Fundamental and Sentimental).
Later on, when you’ve finished the school you’ll be understanding the basis of the market and how it’s affected.
Obs.: Which is you’re goal after all.
Talking about Hobby or Professional, you could compare with journalism. You can have all the information, but you’ll need the experience to know how to do it better.
By the way that’s not my profession xD
That’s it! Good luck with your “initiation” and always search healing in this forum when you have an affliction!
