Where should beginners start trading?

One, first of all, open a simulated market, familiarize yourself with the software, master how to use the tools in the software, understand the correlation between the position and the profit and loss generated by price fluctuations, and so on.

Second, then, it is to study and read books, and read the two most basic and classic books - Steve Nissen's "Japanese Candle Chart Technology" and John Murphy's "Technical Analysis of Futures Market" twice; Then read the following classic books to understand the risks of the market and build your own trading system, "Self-disciplined Trader", "The Road to Freedom to the Financial Kingdom", "Trading Psychological Analysis", "Trading by Trading For a Living", "Principles of Professional Speculation", "Financial Geeks", "Ghosts of Wall Street", "Memoirs of a Stock Operator", "Casino-style Trading Strategies", "A Trader's Money Management System", "Crow Talks about Investment Strategies" ", "How I Got Over Barings Bank - The Autobiography of Nick Leeson".

Three, after that, it is practice and practice. After reading the first two books, you can almost contact the real market, sense market fluctuations, and cultivate your sense of the market through the simulation board while learning; Build the system slowly.

4. Finally, when you have a relatively reliable method, or build a slightly rough system, you can enter some gold for actual combat. Because the imitation market can never exercise your psychological quality, only through the real market can you truly strengthen your heart! But you must remember that the initial deposit should be as small as possible, because 99.99% of this position will be short! Now you should not think about making money, but paying tuition to the market and building a trading system with positive expectations in actual combat.

5. Finally, you should understand that only a small number of people in this industry can build a trading system with positive expectations, and this process generally takes 5-10 years, and most people cannot build such a trading system. A system, so don't have blindly optimistic expectations for trading, but maintain a long-term attitude of resistance, and constantly adjust and optimize your own trading system until it can become your money-making machine.

Personally, I think that a novice is like a blank sheet of paper, what to write is very important for the road ahead.

After reading everyone's comments, it is basically said that it starts with Japanese candlestick charts, moving averages, MACD, and various theories. Most people have basically walked this way, but is the path most people take the right way? maybe.

What I want to say are the following: 1. It is not necessary to thoroughly study each of the Japanese candlestick charts. It is enough to know the most significant ones, such as cross stars, with long upper shadows or long lower shadows, Knowing what it means is enough. The most important candlestick combinations, such as the morning star and evening star, are engulfing patterns. As for the three red soldiers, the three crows, etc., I personally think it doesn't make much sense.

2. Why do you have to take the path that most people have traveled? We all know that most of the indicators are calculated through volume and price, why not directly study the price or volume? It is recommended for newcomers to study and read the book "Chart Analysis and Trading System". Isn't it good to learn and analyze the market directly from the perspective of price?

Looking at the recent market from the daily chart, the highs keep going down, and the lows keep going down, which is bearish overall. From the perspective of 4 hours, the low point is constantly rising, and the high point is also rising, which is an increase. To sum up, it is currently a rebound of the falling market. As long as it does not break the previous high point of the daily line, it can be regarded as the continuation of the falling market. If it breaks the previous high, it remains to be seen if it turns into a shock or rises. Wouldn't it be more straightforward to look at it directly from a price point of view?

3. If newcomers really want to play in this market for a long time, what they have to do is not to think about how much money they make every day, or how many times they will make. Only by controlling the risk within a certain range can you live longer. At present, the more popular method is to stop the loss at 2% of the loss, or use other methods. In short, only by living can you be eligible to talk about profit

The daily chart serves as the direction mark for your trading. If the daily chart is a positive line, then pull back and do long, and if the daily line chart is negative, then pull back and short. To place orders, you need to formulate a trading plan. The monthly and weekly charts are the main long-short directions for your orders. As long as the daily chart does not change the line, you will place orders in the direction of the previous trading day. Now that you know the main direction of your operation, it's easy to place orders. Then find out the approximate price position of the callback in 4 hours, and then in detail in the 1-hour period, judge the precise price of the callback. Wait until there are signs of stabilization in 1 hour, and you can open an order on the right to enter the market after 2 bottoms and tops at the 5-minute level. The stop loss is also relatively easy to set, and a stop loss of about 4 dollars is enough.

If you still don’t know how to operate, according to my personal experience, I will give you a simpler operation method. Find the highest point A and the lowest point B of the previous trading day on the daily chart, and subtract the lowest point from the highest point to equal yesterday’s The high and low fluctuation range C.

Calculation such as: C×0.382=X

C×0.618=Y

Intra-day trading is adopted for split position operation. If the daily line is rising, the first order will be opened based on the highest point of the previous trading day minus X, and the second order will be opened based on the highest point of the previous trading day minus Y. Single 3% increase position. Break the low stop loss of the previous trading day.

However, if you want to do a good job in trading, you must have a planned designated trading plan, draw a disk analysis chart, and cooperate with MACD, KDJ, channel trends, moving averages, etc. to make a complete trading plan chart. In this way, it can be achieved that there is no basis for entry and no evidence for exit. Try not to look at the market with your eyes, but learn to use technology to read the market. Although technical analysis cannot be 100% correct, technical analysis can greatly improve your correct rate.

First build a trading system that suits you, and then stick to it. In fact, the trading system is very easy to build. The difficulty lies in persistence, because there is no holy grail in trading, and any method has its shortcomings. It depends on whether you can tolerate him or not. to execute him.

There is no shortcut to learning foreign exchange. If a novice wants to lay a solid foundation, he must invest a proportional amount of time and energy. Of course, having tools like online video lessons and test questions can help novices get started more quickly than reading dull books.

Steps for beginners:

1. Participate in free online video courses (in addition to Chinese, it has also been widely studied by global users from other 4 major languages, and the evaluation is quite good): learn the basics of foreign exchange trading. Once you complete this introductory course, you can also study other related courses in the platform. I suggest learning technical analysis, risk and money management, and a very important concept - support and resistance, which are very basic. If you don’t know how to choose courses and arrange the order of learning, and you want to save money for purchasing courses separately, you can check Xuedemou’s VIP subscription service for beginners, and let experts help you arrange a set of study plans, including all the details in the study plan There's no extra charge for lessons, and tutors are there to support you 24/7.

2. Practice practice and practice again (in the case of no risk): You can choose a reliable foreign exchange broker platform and open a demo account

3. Start real capital transactions and write transaction logs at the same time:

At a certain stage, learning while trading with real money cannot be ignored, but the risk should be minimized. If you have a good user experience with the relevant broker after trying out the demo account, you may consider switching to its live money account. Every time you trade, don't forget to record your trades, experiences and emotions.

4. Study continuously and read the news widely

The market is constantly changing, and learning should be endless. Learn more advanced foreign exchange trading skills, participate in community discussion groups, consider starting, you can get a systematic and more targeted learning plan from using the services of trading coaches, and continue to learn about the transactions of other experienced traders System and Portfolio Information.

It depends on what you want to do, just play around, get some money to do it, earn it, calculate it, lose it, and leave. If you want to do this business seriously, first establish a time frame. Day or intra day, high frequency, medium and low frequency, etc., or a few days to a few weeks. Think about yourself most often The time to take bills is in line with my personality

2. Under the premise of having a time frame, you can carry out the k-line chart. Several markets do not necessarily have to be foreign exchange. Forex is just a product, including commodities, index futures, and interest rate products. All global secondary markets with sufficient trading volume Almost all the situations that have occurred in more than 20 years have been compared with the big market data at that time. The impact of political and economic variables on the market has been reviewed first. At least you should know the current situation by scanning the k-line without too much analysis. Where the market is fluctuating, the probability of various situations, the odds of winning are suitable for you to hold orders, etc.

3 Technically, add a few average lines at different times, which one is irrelevant, and leave one or two in the end. Well, the moving average can’t be overemphasized, just add another kinetic energy indicator. Read less theoretical books and read more case studies.

Practice the body and maintain a stable trading personality. There is no

market reality. You have to give your own solution. Others can not help you

Because of the following conversation, I had the idea to write an article about beginners in foreign exchange, and it was the kind from scratch. It seems to be a very simple thing, but it is somewhat difficult. Because today, ten years later, I have already forgotten what I was thinking every day when I was still a novice.

Just like adults always blame children for being ignorant, but it is difficult to understand why children are ignorant. In fact, adults also came from the stage of being a child, and did the same thing at the beginning, but the years have long since smoothed out the ignorance of adults in childhood. !

So I had to let myself "become an idiot in a second", recalled what I did in the novice stage, and experienced the process of a novice learning foreign exchange trading from scratch.

If I can do it all over again, I hope to complete this process in seven days, from Monday to weekend. (The red fonts in the text are the keywords of the learning path)

Getting started on the first day

This is the time when curiosity and thirst for knowledge are the most vigorous. No matter what reason you heard the keyword "foreign exchange trading" from where, and you also learned that it can be used to make money, I think your first The thing to do for a while should be to go to Baidu.

But for this imported product, most of the information is in English, which is still a bit difficult for novices to understand.

For example, after Baidu first passed, I was in a dilemma between the two concepts of MT4 platform and ECN platform. I initially understood that these are two platforms that can trade foreign exchange. At that time, the idea was to find the official websites of these two platforms and download them. trading software.

Obviously, this idea is a bit fierce, because when I searched for these two keywords, there was an even more incomprehensible picture: various MT4 platforms and various ECN platforms were all English names, and I was stunned at the time!

Finally, after checking a series of heart-abusing Baidu Encyclopedias, I became even more confused in my confusion. I simply chose the first link in the search option of the ECN platform, found the download, and downloaded the trading software first.

The next step is to install, register a demo account, log in to MT4, and finally get started!

This part of the entry is very critical, because it is a qualitative change from 0 to 1. Among them, I think many novices have encountered some problems about the platform. For example, when you see keywords such as ECN platform and MT4 platform, it is really difficult for people who have not understood them before.

The MT4 platform is the name of the trading software, just like an Android phone, you cannot buy an Android phone. The ECN platform is like the difference between a touch-screen mobile phone and a key-press mobile phone, and the models are different.

Facing the complicated MT4 interface in the operation on the second day , my mood almost collapsed at that time, because I couldn't find a place to start. Therefore, to do foreign exchange, you must know at least three aspects: English, computer, and finance. Fortunately, I just came out of the ivory tower, and I haven't forgotten all kinds of skills.

Later, I started to browse post bars and forums, because it is easy to walk into a dead end when studying alone. What I want to complain here is that there are not so many advertisements! There are also many routines, so you can judge by yourself, and try to pay as little IQ tax as possible!

Through continuous reading and practice, I finally found out where the currency pair is, where the trend chart is, and the basic operations of placing orders and closing positions.

This process is difficult to describe, it is completely learning by doing. But let me tell you from the perspective of someone who has experienced it, you only need to download a MT4 tutorial now.

On the third day, the trading

K-line was not changing all the time, and I didn’t know how to trade at all. The demo account was basically operated randomly, and I couldn’t find a way at all. At this time, the static learning method can no longer meet the needs. At that time, it should be the best way to find QQ groups for communication.

Speaking of this, I am still very lucky. After joining several "routine groups", I met a "reliable group". For smart people, you can basically tell the difference by looking at the atmosphere in the group. To be honest, the real learning started after joining the group.

When I first joined the group, I couldn't get in the conversation at all, I could only watch others chatting silently, and I had only a half-knowledge of various terms. It was only at this time that I realized that I might have opened a Pandora's box, and there were so many things to learn.

From the chat, I learned the concepts of T+0, two-way trading, leverage, trading volume, and spread, and learned how to choose and adjust.

Then I learned the concepts of buying and selling prices, stop loss, take profit, trailing stop loss and take profit, hedging, and pending orders. Because it is a simulation board, it is completely used for practice, so I tried various ways of placing orders without any scruples.

At this time, the interest in trading is really high, because I have learned some tricks and burst out with unprecedented enthusiasm. So far, apart from eating and sleeping, I basically spend all my time on foreign exchange.

Chart on the fourth day

This is the most depressing place. When others discuss keywords such as H4, M30, and M5, I am embarrassed to ask questions. Because from the tone of their chat, it can be felt that this is already spoken language, if you don't know this, you are definitely a rookie.

Still, I asked! After asking, I learned that the K-line chart has various periods. H4 refers to the 4-hour K-line chart, M30 refers to the 30-minute K-line chart, and so on. Then he also told me about the concept of K-line shape and indicators, and gave me some relevant information, which has been preserved until now.

Through systematic learning, I understand a series of analytical methods such as support levels, pressure levels, drawing of trend channel lines, and the use of golden sections, and understand common indicators such as RSI, MACD, and moving averages.

Later, I used indicators and drawing charts for a long time. At that time, I really thought that there would be an indicator that could be used to predict the trend.

At the same time, I also saw other people talking about the concept of fundamentals. At that time, it was very vague, and various data and concepts were basically incomprehensible, and I didn't feel its importance at all, so I didn't spend time learning it. But I thought that today, many years later, I have already abandoned indicators and focused on fundamental data.

This process is very complicated and long. If there is no certain foundation, it will be very difficult to just listen to the concept. If it is specific to understand and use, and use it well, at least one year of experience accumulation is required.

Firm offer on the fifth day

In fact, it was just an idea, and it was not implemented in the end. The process is quite interesting. After a few days of explosive learning, the idea of ​​firm trading has long been irresistible.

I found the group owner and wanted to open an account with him to test the waters. After a brief exchange, I was asked how long I had been simulating, and I said less than a week.

Then the group owner told me that the time is too short, at least after a month of simulation, come to me to open an account, this is for your own good.

It was rejected in this way, although the first warehouse did not intend to put much money, and planned to test the waters with a few hundred dollars. But I still trust the group leader, and I listened to everything he said. And later facts also show that this is correct.

The group owner gave me some learning materials, and asked me to read more of these materials in addition to the simulation. It is about foreign exchange platform, foreign exchange market structure and position fund management, basically has little to do with trading. And tell me that these are very important in the real offer and must be understood.

To be honest, I was not interested in reading these materials at the time. My mind is full of how much profit and loss the simulated market has made, and what will happen if it is a real market! To put it bluntly, it's all about money!

The market was closed for two days on the weekend , and it was the first time to resume trading . I didn’t know that the market was still closed on weekends. I saw that there was no movement on the market, so I asked in the group to find out.

However, even though the market is closed, everyone’s enthusiasm for discussion is still very high. Everyone keeps posting their own analysis charts, analyzing current market news, and predicting future trends.

From the chat, I found that everyone discussed Europe and the United States the most, and then I realized that Europe and the United States are the most suitable for trading. When I looked back, I found that I had been trading a cross currency pair.

Only then did I understand what a straight currency pair is and what a cross currency pair is. Different currency pairs have different personalities. It is also very important to choose a currency pair that suits your own trading style.

In addition, some of the more powerful masters also bubbled up in the weekend chats. It was the first time I saw a real account with tens of thousands of dollars, and I was shocked! The masters are all talking about their own trading systems and how to improve their own trading methods. In order to understand what the trading system is, I started a long study again...

The above is the process of learning foreign exchange trading from scratch. Maybe seven days can't really let us learn foreign exchange trading, but at least it can be an experience and a start!

In fact, the content of each day in this article is enough for you to spend a whole year studying, and when you finish studying, you will find that this is just the beginning, and all of these are just basic homework. What's more, you need to accumulate experience and try carefully!

One last message

Carefully observe the subtleties, observe the rules, and observe the overall situation from a high level. There is a strategy. Make decisions before making moves. Always adapt to local conditions. Pros and cons are at heart. Given time, there will be gains!

Novices will inevitably have a lot of questions when considering entering the foreign exchange market. Don't worry if you don't know how and where to start! Here's a 5-step checklist to get you ready to enter the world of online trading!

1. Research Forex

As with most things in life, the cultivation of knowledge is key. Anyone entering the forex market must do some extensive research, starting with what is forex trading, all the way through to how to analyze charts, use indicators and follow fundamentals. The internet is full of free, well structured and easy to follow forex lessons/quizzes that will take you from beginner to pro before you risk anything! You can even research forex traders who use tools and trading styles that suit your preferences and emulate them! Start slowly and gradually increase the difficulty at a pace that is comfortable for you. Most importantly, make sure you never stop learning!

2. Manage your trading expectations

While some people may just want to see what the forex market is all about, most people get into the forex market to make money - and fast! The first step you can take to ensure your success is to realize that you are What kind of market to enter. While forex trading can make money from the comfort of your couch, that doesn't mean it's easy! Like any other career or business venture, it requires hard work and dedication. So don't be discouraged by the inevitable long and challenging learning curve. Everyone has been through this and knowing it puts you ahead of your peers!

3. Get a Forex demo account

Novices can use the FX110 website to choose multiple suitable and regular platforms to open demo accounts. Forex demo accounts are the best way to get familiar with the market. They allow you to experience real-time market fluctuations and conditions, and their impact on your hypothetical trades, without taking any risk! For starters, they're essentially a kind of flight simulator. In fact, they are an excellent way to test a new forex trading strategy before committing real capital, even if you are improving and even getting better. They are free! If there's one thing you've learned from this article, it's that you should wash out your demo account before you risk losing a penny.

4. Choose a trading instrument

First, it's best to focus on one tool. This can be currency pairs, forex, metals or indices. Get familiar with how it fluctuates and what factors affect it. By doing this, you can simplify the market and get used to the technical and fundamental aspects of forex trading without being overwhelmed by all the variables. As you get better, you can try adding more tools, more charts, and more risks. You'll be more than capable of handling it!

5. Allocate the amount of capital you are willing to risk

As mentioned earlier, Forex trading is no different from any standard business or investment venture. It offers both opportunity and risk. Therefore, you can never enter the foreign exchange market with money that you cannot afford to lose. This is true even if you have already tested and optimized your trading strategy on a demo account! market is unpredictable

First understand what is a trend, then understand what is a moving average and its principles, then learn several reversal K-lines and several commonly used sub-chart indicators, and finally understand the market through a lot of correct reading and analysis. If you don’t understand, you must have a A good teacher can ask for advice, study patiently and calmly, and when you recognize yourself, find a suitable platform, use the trading system you have been familiar with during the learning process, and strictly implement it. System and strategy execution, correct those wrong habits and human nature, improve your mentality and execution ability in practice, and improve slowly until you succeed.

Forex Beginners' Guide

1. Search online for courses, the first time is not broken and easy to use;
Suggestion: It is not recommended to buy any book at the beginning, because you don't understand it at first, and the more you read, the more confused you become. Personal learning method, first understand the framework, and then fill in the details when you encounter them, such as k-line, moving average, etc.;
2. Review;
after studying the online course, don't rush to deposit and trade. First look for similarities in the historical data in the market according to the graphics taught by the teacher in the video, and compare them. If you don’t understand anything, you can ask the teacher, or focus on searching if you don’t know how to make up. We are all ordinary people and don’t need academic papers or anything, but at least we have to understand and speak out.
3.
After establishing a preliminary trading system, after learning the basics, it will be reversed, and the basic common problems will be solved through review. This is not the time for you to go to the battlefield to kill the enemy. First set up a framework for yourself, what should be the signal you make.
For example, the level, moving average shape, entry shape, exit shape, and the calculation of the number of hands placed;
you must have this, and if you don’t have it, you will hand over your back to the enemy.
4. Transaction records
Find a notebook and record the specific form of each transaction according to your own transaction rules. If you are not used to it at first, you will definitely get used to it later.
This is to impress yourself and correct mistakes. Definitely do this. We use our mobile phones every day and know how to charge them, and buy a mobile phone case to protect them if they fall. Trading is even more, if you make a mistake, you will know where to adjust. You can only write it down, don't rely on your brain, believe me, there is absolutely no way to write it down.

-----That's all for now,
don't spray if you don't like it for the time being, a grassroots strategy for grassroots foreign exchange people.

I suggest that you first choose a reliable and regular platform, and then download mt4 to understand what each chart represents, first understand the foreign exchange knowledge briefly, and then trade. I suggest you try it with a simulation first, and then Register for a real account, because there is still a certain difference between the demo and the real account

A theoretical basis is necessary, just like talking about a partner, you have to understand the other party first, and then come up with countermeasures (trading strategies).

First read a few books on technology, then simulate trading and then real trading, and strictly implement the trading plan.

Prepare at least 50,000 yuan for loss, pure tuition

Buy two books first to learn basic trading methods, such as candle charts, moving average indicators, etc. In short, you have to learn these basics. Then slowly summarize and explore, from simple to complex, and finally simplify the complex. Form a concept of your own, and then overly require a systematization of transactions, including risk control mentality and so on.

Easy to say, but a long way to go

It depends on what you want to do, just play around, get some money to do it, earn it, calculate it, lose it, and leave. If you want to do this business seriously, first establish a time frame. Day or intra day, high frequency, medium and low frequency, etc., or a few days to a few weeks. Think about yourself most often Take the bill according to your personality

2 On the premise that the time frame is available, there is no need for several markets to come together on the k-line chart. Foreign exchange is just a product, including commodity index futures and interest rate products. All global secondary markets with a large enough trading volume are almost 20 years old. All the above-mentioned situations that have occurred before have been compared with the big market data at that time, and the impact of political and economic variables on the market. At least one should know where the market is fluctuating at the moment by glancing at the k-line without excessive analysis. The chances of various situations appearing, the odds of winning, whether it is suitable for you to hold orders, etc.

3 Technically, add a few average lines at different times, which one is irrelevant, and leave one or two in the end. The simpler the better, the moving average can’t be overemphasized, and just add a kinetic energy indicator. Read less theoretical books. see more cases

4 stages of physical training to maintain stability, trading personality is gone

The reality of the market exists, you have to come up with your own solution, no one else can help you

Some time ago, I was fortunate to have a foreign exchange exchange with a senior in short-term foreign exchange trading. Today I write his story, hoping to help you a little bit. Because there is no recording, it is all based on memory, and there may be some omissions. If you are interested, you can contact me, and I will introduce you to you. My writing is at elementary school level, please understand. The following is a dialogue. This senior likes to live by the sea, so he replaced it with waves.

Me: When did you come into contact with foreign exchange and why did you choose foreign exchange

Hailang: In 2006, I was a sophomore. University life was boring for a person who didn’t like studying, so I thought of finding something to do to pass the time. And I had a dream since I was a child, hoping to buy a Ferrari and have a villa by the sea. It is difficult to achieve in a short period of time. And the speculative industry may be one of the most likely avenues to realize these wishes. The reason why I chose foreign exchange instead of more popular stocks is because foreign exchange can be traded 24 hours a day, with leverage, and can be shorted. I like shorting. And at that time, I felt that foreign exchange was more compelling than stocks.

Me: Have you been doing foreign exchange full-time for so many years?

Hai Lang: No, if you want to be successful in foreign exchange full-time, you must have a good family. In the early stage of Guowei foreign exchange, you not only need to invest time, but more importantly, you need to continuously invest money. Because it is difficult to make money in foreign exchange in a short period of time, but will continue to lose money. It took me 7 years to achieve a break-even, and it was only the 9th year that I started to make stable profits every month. It may also be that I am stupid. And after graduating from university, you have to face various problems, such as food and housing, marriage, and having children. These all cost money, so I found a stable job based on the reality to maintain normal living expenses. Use the time in the evening to watch the tape and study, and sometimes I will watch it when I have time in the afternoon. Of course, I am basically full-time now, because I have a stable profit and I have an explanation for my wife.

Me: When you first started learning foreign exchange, would you visit forums or read books every day?

Hailang: I have been to various foreign exchange forums and foreign exchange groups at that time. I want to find something useful in it, but it is difficult to meet a real foreign exchange master. The content of the forum has to be experienced by myself, there are good and bad. Afterwards, I seldom went there, and there are basically novices or braggarts behind, and it is difficult to come across good articles.

Me: Talk about specifics, how do you operate

Hailang: Yes, I mainly trade in technology, and I only spend a few minutes a day looking at the financial calendar to avoid major financial events. I don't like to do non-agricultural, Draghi, and Yellen speeches, because I don't have inside information. This kind of market may make you flip or blow up your position. I have never been lucky, so I don’t do it.

Let me talk about the three elements of foreign exchange trading: body, technology, mentality

Let me talk about the body first. Why do I put the body first, because the body is the prerequisite for you to trade for a long time. Without a good body, no matter how good your skills and mentality are, you will not be able to perform. I am the main one, Europe and America, Meirui, America and Canada, Australia and America,

Start by understanding the risks of foreign exchange. Only when you understand the risks can you figure out whether you are suitable for foreign exchange. The technical aspects or how to operate are later. Don’t enter the foreign exchange market. It’s not worth it if you don’t make money but enter the market with big losses.

For beginners, it is recommended to start with the varieties with small fluctuations, such as Europe and the United States, and then go to gold with large fluctuations after getting familiar with them.

Learn some foreign exchange knowledge first, and then find a reliable platform. If you don’t have a trading system, it’s best to play a simulation first, or verify your trading system with a real small position. Be prepared to pay tuition. Every order must have a stop loss, don't carry orders, and don't take heavy positions.