How to systematically learn foreign exchange trading?

​From the perspective of complete beginners, I think the rough 4 steps here can help you lay a solid foundation step by step systematically:

1. Educate yourself

In order to trade effectively, having a forex education is crucial. You don't have to spend money on books or courses (in fact, I personally don't recommend spending a lot of money on books or courses), there are many free and useful resources on the Internet, learn to find good resources, and then spend time Educating yourself through a lot of reading . ​

Start by reading the principles of foreign exchange, and see if you can answer these questions clearly: What is foreign exchange? Why is there foreign exchange? Where is Forex traded? How to trade foreign exchange? ​

Over time, you may learn that nothing beats experience. When you're just starting out, open a demo account and try out simulated trading. Familiarize yourself with the interface of the platform, learn the functions of the buttons, familiarize yourself with the charts, etc. This will give you a good technical foundation. ​

You may learn something fundamental through simulated experience that no book or other trader can teach you - and that is when you realize your reason for entering a trade no longer exists, you close your trade and qiut the market. This thing is very valuable. ​

Because traders can easily fall into the trap of thinking the market will turn around in their favor. You'd be surprised how many traders make this mistake and then get surprised and heartbroken when the market moves further away from their original intended trade direction. ​

2. Using a micro forex account

The downside of learning forex trading purely on a demo account is that you won't get a taste of what it's like to use your hard-earned money. Trading teachers usually recommend that you open a micro foreign exchange trading account, which allows you to trade in small amounts. ​

Small trades allow you to put some money in, but if you make a mistake or enter a losing trade, you face very small losses. This will give you a whole new perspective on what you learn while trading on a demo account.

3. Know the currency you are trading

To get started, you need to understand what you are trading. New traders tend to jump in and start trading anything that looks like it will move. They usually use high leverage and trade randomly in both directions, usually ending up losing money.

Knowing which currency you are buying and selling before trading can make a big difference. For example, a currency may rebound upwards after a sharp decline, encouraging inexperienced traders to "try to catch the bottom." But the currency itself could fall on the back of months of poor jobs reports. Would you buy something like this? Probably not, and that's an example of why you need to understand what you're buying and selling.

Currency trading is complicated. It is best to start with a few uncorrelated currencies and focus on those pairs. Focusing on a few currency pairs will allow you to easily understand the economic news of the relevant countries, and you can also understand the fluctuation rhythm of the relevant currencies.

After you have traded with a small firm account for a period of time, you will have a feeling for your work, and then you can deposit more funds and increase the amount of trading funds. Knowing what you are doing boils down to getting rid of your bad habits, understanding the market and trading strategies, and having some control over your emotions.

4. Manage risk

Managing risk and managing emotions go hand in hand. When people feel emotional, greedy, or fearful, that's when they err on the side of risk, and that's what leads to failure. When you look at a trading chart, approach it with logic and objectivity. If you have any sense of uncertainty when trading, that you don't know what you are doing, you should re-evaluate whether you should take this trade.

Hope that helps!

It is not difficult to learn to master foreign exchange market transactions. First of all, you must learn the basic skills of foreign exchange transactions, and secondly, you must grasp the market trends of the foreign exchange market. If possible, find a professional teacher or platform to guide you.

It is not easy to become an excellent and successful foreign exchange investor. You must go through three stages.
The first stage is the introductory stage of theoretical study

The second stage is to enter the stage of self-enclosure and hard training

The third stage is to enter the master stage of re-learning, reflection and summary.

In this ups and downs of the foreign exchange market tide, those who can have their own trading skills and experience have paid their hard work (capital and time). When entering the foreign exchange market, they need to maintain: sharp, calm, and decisive. The most important thing is mentality. Finally hope to help you.

It depends on your level, pure novice, it is recommended to do a simulated side-by-side study first, and then a small amount of real trading, if you have any problems, you can study on your own

Start from scratch, start from naked, gradually accumulate, there is no shortcut, only solid, can be used by me!

1. Learn an effective trading system that has been tested in practice.
2. Practice using the trading methods you have learned on past historical charts.
3. Use the real-time data of the current market to conduct simulated trading, and further improve your skills and level in correctly using the trading system.
4. On the basis of greater confidence and profitability in the simulation operation, small-scale operations should be carried out with small funds, and the experience and lessons in the actual operation should be summed up in a timely manner, and continuous learning and improvement in practice.
5. Carry out actual trading in accordance with the thinking and working methods of professional investors.
6. Find a professional teacher with many years of experience, such as Mr. Jing Liangdong. The advantage of learning from the teacher is that you can ask questions at any time if you don’t understand. In the novice stage, it will help you better grasp each wave of market and the entire foreign market. During the learning process, a unique trading style is formed based on one's own understanding.
7. Find a suitable reference book, such as a gold investment book, so that you can consult it at any time if you encounter problems 

Mingde Lunjin: 6.4 gold night black storm hits, can the announcement of unemployment benefits affect the general decline at night?

[Mingde Lunjin] Abstract of the article:

①Foreword; ②Unemployment benefits data announcement hits, can there be a wave of longs and shorts? ③Gold investment philosophy

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①Preface

Today (6.4) is a day when the gold waves are calm, and the bulls and bears are stuck in the range of 1705-1697, fluctuating up and down in the range of 8 points. For this kind of market range, there is really no way to start. There are indeed not many opportunities in the white market. Of course, there are still some steady profits, but it’s just a small amount. So why does gold always fall into the shock range? This is mainly due to the sharp drop in gold yesterday, which led to the recovery of gold shocks. Of course, the actual operation is still based on the actual points given by Mingde. But here, I still want to emphasize that for investment, the most important thing is to control the risk. In this regard, I have been emphasizing that all students should not carry orders, and it is also strictly required for each student to operate Take a good stop loss for each order, do a good job of self-discipline and self-control, I hope everyone will keep it in mind!

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② Unemployment benefits data is announced, can the long and short burst out?

For today, the U.S. dollar ushered in a short-term slight strength, as the market worried about the deterioration of international trade relations, so the U.S. dollar attracted some safe-haven buying during the day. As the protests in the United States continue, the demand for US dollar cash is greater than that of gold, so gold loses its appeal. Of course, the epidemic has not been completely resolved recently, but the main reason for the rise in the stock market is that the market only focuses on one thing, the restart of economic activities in the United States and the world, the global epidemic has slowed down, and countries have resumed work one after another. The worst of the shock is over, risk appetite is on the rise, and stocks continue to rally. Optimistic expectations for the market have improved significantly, dispelling the recent risk sentiment, which led to a cooling of gold's safe-haven, which made gold lower. But the important point is that the market economy is gradually stabilizing, and gold may go lower.

For the opening hours of the U.S. market in the evening, the number of unemployment benefits will be announced again, so will it be directly negative for gold this time? In [Mingde Lunjin] Mingde’s personal opinion, there is a high probability that tonight is bad for gold and good for the US dollar, because the market sentiment improves, companies gradually resume work and production, and business orders increase, so it is very likely that the number of unemployed people will directly decrease Yes, of course, no matter how the data is announced, in my opinion, gold will inevitably usher in a decline. As for the reason, I believe all investors know that the European and American stock markets are going up strongly, and the expectation of a rebound in employment is increasing, and the unemployment rate will only gradually decrease. Then gold will inevitably usher in a sharp decline because of its lack of safe-haven attributes. Looking at the intersection of the moving averages from the daily K opening, it is in a downward trend. Although KDJ has an upward momentum, it is not a cause for concern. Let us wait and see if gold can hit a new low again tonight.

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So for everyone's operations at night today, gold is still mainly short-selling around the rebound. The upper part first focuses on the 1715-1720 mark, and the lower part focuses on the gains and losses of the 1690 mark. If you fall below this threshold, continue to look down at the 1680-1660 line, but for specific operations, you will strictly follow Mingde my firm offer dynamics, remember to strictly follow my instructions to control positions and stop losses, and beware of accidents.

③Gold investment philosophy

Trading: Revere the market, respect the law of market balance, and be strict with yourself.

Decision-making: follow the trend, first big and then small, first long and then short, and decisive.

Experience: Currency generates value in circulation, the premise of any value generation: first ensure the safety of funds, steady income in a safe and stable environment, learn with an empty cup mentality, trade with a normal mentality, and use strategies to win!

Disclaimer: The above analysis content only represents personal opinions and is for investors' reference only. It does not constitute investment advice. The article is lagging. Investors operate accordingly and at their own risk.

This article is an exclusive strategy analysis by the analysis team of [Mingde Lunjin], please indicate the source for reprinting, investment is risky, and you need to be cautious when entering the market! If the operation is not going well and fails, you can set up orders and lock them. You can communicate with me

First learn K-line, K-line shape, then learn indicators, then learn wave theory, and then learn about risk control, and then combine them to use, combining theory with small funds to improve your trading system, but there are many books on the market, and the authors are different. , then the trading systems they talk about are different, you have to distinguish this, otherwise you will not know how to make orders for a while.

Attachment: K-line and K-line form are the basis, and indicators serve K-line

After forming your own stable profitable trading system, you can discover and create your own things

The ultimate goal of our trading is to make money, but the first priority of every transaction should not be to make a lot of money, but to try our best to reduce losses and keep the principal. We just operate our own funds to enter the market and set stop losses, and the market has the final say on whether to make a profit. This is the principle of trading. It is not enough to understand the trading principles. You must have your own trading system, and the establishment of a trading system is very simple. The difficulty is that a lot of trading training must be done to achieve profitability. This is a long and painful thing, and simulated trading can also be trained.

How to establish a trading system, you must first understand the law of price operation, whether it is stocks, futures, foreign exchange, as long as it is a market with high trading frequency, the law of price operation is the same, but the magnitude of price fluctuations is different. First clarify the laws that the market can and cannot be determined, and then establish your own trading system framework according to these laws. According to the law of the market, the market price always breaks through or rebounds at the pressure level, that is to say, the price always rises, falls and then rises, and the rise and fall alternately form a trend, and the position where the trend alternates is the pressure level. The trend is divided into three situations, rising and falling sideways, and these three trends cycle irregularly, that is to say, after the rise, there may be a fall or sideways, and after the sideways, there may be a rise or fall. This trend is divided into big and small levels according to the time period and the rise and fall. Trends coexist. There are small trends in the big trend. The small trend must obey the big trend. The small trend has only one chance to change the big trend. You won't know until the big trend is over. Once the trend direction is formed, it is not easy to change. The most important point is that the trend runs according to a certain rhythm. This rhythm is very important. For example, if the price rises by 30 points in the first hour and then pulls back by 10 points, the price will also increase by 50 points in the next hour. Point callback 10 points, this is a kind of rhythm. Or the price rises by 50 points in the first hour and then pulls back by 10 points, and in the second hour the price rises by 40 points and pulls back by 20 points, then the price rise in the third hour will be 30 points and pull back by 30 points Point, this is the meaning of rhythm.

Of course, the meaning of rhythm is not as standard as the answer to a math problem, it is almost enough. When the rhythm changes, the price will follow another trend. As mentioned earlier, the trend is divided into three situations, rising and falling sideways, and the three trends cycle irregularly. Generally speaking, the law of the market is to run according to the trend.

Starting from the basics, you have to decide which genre you want to go, the indicator school, the naked K-chart school, or the various methods of scalping. You first find a position and then go to the system to focus on learning

There is a basic framework: trend-point-signal

It's difficult, but it's better to read less analysts, shouting single teachers, or some articles of little value.

Many times, other people's fine wine is your poison, and there are thousands of people who want to poison you to death.

The road I have traveled by myself, I know, is not easy, so I do not recommend this road, it is too difficult.

Of course, everything has two sides.

There is a saying that what doesn't kill you makes you stronger.

What about the k line? Let's talk about it? I heard that Huihu will release a manual recently, which is probably suitable for novices to learn

Recommend you a book "Learn Forex Trading from Scratch"

There are nothing more than two learning methods, self-contained and borrowed. The key point is to verify and experience the scientific nature of the trading system, that is, the big principle of winning more and losing less. If it is met, implement it resolutely

Take out your strength before the college entrance examination, start from the basics, find the right direction and try hard once, the world is fair in most cases, foreign exchange seems to be simple to operate, and you can make a lot of money every day , but only the trader knows the hardships behind it. Even the best trader has a golden age. When you get older, you will gradually become unsuitable for trading. If you are still young, spend a year to learn and work hard. Then start real trading, use 10 years to make your wealth free, and then train some of your own successors and let them trade for you. Pay attention to avoiding pitfalls in the learning of trading. If someone tells you to ask you for three days In two days, you will be able to make a stable profit, which is mostly unreliable, but if you teach you a deterministic rule, you can make a profit. This kind of rule is not technical analysis, it should belong to the reasoning rules of logical thinking, so as to ensure your winning rate. If it is based on ordinary probability technology, there is no point in studying it. I hope you can understand everything I said

The purpose of learning trading is not to learn how to buy and sell and sell. It's about how to lose less money and keep capital every time you trade. This is the purpose of learning how to trade. The most basic technical analysis is easy to learn, and it is enough to learn these basic technical analysis. The market is nothing more than a process of switching back and forth between support and resistance, and breaking through back and forth. Learned technical analysis, but still can not make money. Use these technical analysis tools to find entry positions and stop losses. Whether we can make money or not, the market has the final say, we can only continue to operate our positions according to the signals given to us by the market to reduce losses and expand profits. The above is the technical analysis and position management mentioned in the book. The two are inseparable.

Let’s talk about how to learn technical analysis first. Don’t rush to use indicators when you first start learning technical analysis. First, understand what is a trend, the size and level of trends and the relationship between each other, and then observe the trend of historical trends and the law of trend changes. Here I want to emphasize One point, you can't just observe the position where the trend reverses, you have to take a closer look at the whole trend.

Not long ago, a Huiyou asked me how to do short-term trading. I said that if you want to do short-term trading, you should find a platform that does not charge fees and has low spreads during the preparation stage, because the frequency of short-term trading is definitely higher than that of long-term trading, and the transaction cost is so high. Save as much as you can. He asked me what is the point difference? I was taken aback at the time, and it seemed that he was still a novice in trading, so I told him that you should learn the basics, such as the basic application of mt4, the basic rules and technical terms of foreign exchange trading.

If someone is still in the above state, then there is nothing to say, read the book, there may not be a way to make a stable profit in the book, but for this kind of basic knowledge, there are a lot of books.

How should traders who have been trading for a period of time, especially those who have experienced losses, learn? First of all, we must be clear that mature traders must have their own trading system. A trading system includes the most basic three elements: entry rules, exit rules, and fund management.

The entry rule is the beginning of a trading system, which is the stage of opening orders. You have many directions to choose from, which are generally divided into breakthrough style, callback style and other styles. For breakthrough entry, you can refer to the moving average, such as opening long above the moving average, or refer to the macd energy column to open long orders, or the simplest way to break through the 20-day high to open long, etc.; It is no problem to enter the market after the market pulls back or rebounds in order to seek a better entry point. There are other ways to enter the market, such as a certain form of Tanglun, or a classic form of nude K, or even if you see a popular star in the five elements and gossip, you feel that gold will rise and enter the market, no problem. These are all feasible, as long as there is consistency, you can choose a direction.

Exit, this is the link related to the transaction results, the first thing to explain is stop loss, stop loss is the most common way of exit, a misjudgment of an order, avoiding loss expansion, and timely stop loss, this is his role, but Stop loss is not always a loss. Many people have a way to move the stop loss in a favorable direction. After exiting the market, it is profitable, and the stop loss becomes a stop profit. However, this has a certain amount of profit taking, so it is necessary to See personal preference. The second way to enter the market is to take the initiative to take profit. You can set a stop profit according to the indicator, such as the best ratio of Fibonacci to take profit, such as the rsi or kdj algorithm to take profit on a certain line. The very simple stop profit is Lao Tzu It is necessary to get one hundred points, or some integer mark, and if you don't get it, you will never play. These are also fine, as long as your final logic is a positive expected value, these appearances are fine.

Fund management, margin trading is not like stocks. Margin is leveraged. Although it can make you move the earth and get rich overnight, it may also kill you with a drop of rain. What you rely on is fund management. What kind of The management of funds is the right thing. Everyone has their hobbies. If you insist on one, my suggestion is that you can sleep well after placing the order. That's good.

Are you satisfied with this answer?

Explain one of my own methods!

1. First learn to observe that more than 90% of the market conditions are untradable conditions. Watch and learn how to kick out untradable and unsure market conditions.

2. Pay attention to market trading sentiment. When the market trading sentiment is high and consistent, it is regarded as a tradable day

3. Grasp the timing of the transaction.

4. Record your own transactions and look for problems in your own transactions.

5. Fully develop pre-transaction plans. Create wealth with compound interest.

6. Tough trading character. People will encounter setbacks and defeating themselves is the most difficult path.

Finally, to sum up, don't be afraid of failure and miss. The market is beyond human control. But what we can control is when we enter the market ourselves. Restrain your gambling and leave room for yourself. Don't try to get rich overnight

Learn the basics first, then go to actual combat, test what you have learned to find the order indicators you need, and then look at the success rate and profitability rate and then slowly change and adjust!

In fact, a few answers have already been said quite comprehensively, and I will repeat them if I say more. If you still haven't found the direction, I suggest you find a teacher. It seems that many people in Huihu are willing to lead people. For example, the Foreign Exchange Technology Research Institute and the Asa Foreign Exchange Community. You can go and check their answers.