The Start

[jamesbrown2]

Hi,

This is for anyone who is starting first time or someone who is struggling to make it. I am not going to tell you to trade Demo accounts as that is least of the factors. Before getting started with anything you need to filter out your source of knowledge. This is most important part and i am telling you this after over decade of experience.

 

So your knowledge sources in current times could be live courses, recorded courses, books pdf, hard copy of books, youtube. What to gain knowledge of? As price action is most important factor of all the trading that is where you need to start. Now for price action go for each of the source and see which format works faster for you. e.g for me personally reading from hard copy of book is flash fast than anyother format regardless of how good that is. Remember its not about how good that information is, what matters is what actually works for YOU.

 

Once you find your source of information drop everything no matter how attractive that is and focus on that medium for your journey. I can guarantee this way will save you years of work. I learnt this hard way but i would like to save time for others. I know this sounds stupid but you need to really know how your brain works.

 

next markets can do 2 things .Either they are in trend or they are in range. your goal is to find strategies for both conditions and by strategies i dont mean you need 5000 ways to trade. The moment you have 2 -3 ways to trade each condition you then move to DEMO account to test and get confidence on your entries. Demo is only to be used to get familiar with how the platform works, when the markets open and news etc. and yes to get better with your strategies.

 

Next comes last part live account, open with Smallest amount that you can loose say 100. use smallest lot size 0.01 as now you main part of learning comes is managing emotions you can not learn that from any format unfortunately this is something you have to experience your self. Feel the pain of SL, enjoy your green trades and find your comfort zone.

 

Once all of that is done you can trade anything anytime frame any instrument.

 

Now you can complicate the process as much as you like. If i were to start again i would do this to save my time and reach there quicker 🙂 All  the best.