Education?

[FXNewbie09]

Hello!

I have been trading on play accounts and am ready to take the plunge into trading and would like guidance on trading ideas, market trends and where to trade.

Would appreciate insight on the following:

1. Where did you get your trading education from, beyond the play accounts?

2. Do you rely on the views of the FX analysts from major banks and/or brokers?

3. How do you decide which platform to trade on?

4. Do you follow mainstream financial media at all? Are the trade ideas there useful?

Thank you for insight into the FX space!

 

[Enivid]

1. Books mostly.

2. Big banks' analytical reports are interesting to read as they usually offer a lot of fundamental background about a currency. I cannot say that I use some third-party analysis directly to trade, but I read it to keep my info up-to-date.

3. Define your requirements to the broker, find the one that meets the most important of those requirements.

4. Trade ideas - probably, no, but there is a lot to learn from it.

 

[FXNewbie09]

Thanks for the reply!

What broker have you used and which one did you like the best? I'm looking for a broker that offers the best spreads, currency pairs, company reputation. I want to make sure my choice will benefit me the most.

what books did you read when you were getting started? would love to check them out

 

[March]

FXNewbie09, hello!

1 If you mean business tips in generally, I use lynda.com web-site. They have lots of good materials. If you mean particularly forex trading, I use FF materials. They have different useful tutorials, webinars, articles. All the information is quite clear for a newbie.

2 They seem to be rather professional, and I think it's quite good method to start with before you form your own view.

3 All depends on my goals and needs in the curtain moment.

4 I prefer to follow fundamental knowledges, not the mainstream ideas.

 

[Enivid]

What broker have you used and which one did you like the best?

Exness and AGEA, but use other brokers depending on the trades I need to carry out.

I'm looking for a broker that offers the best spreads, currency pairs, company reputation.

Those would be three different brokers.

what books did you read when you were getting started? would love to check them out

I don't remember what I've been reading when I started, but the best books have been:

• Trade Your Way to Financial Freedom by Van K. Tharp
• Fooled by Randomness by Nassim Nicholas Taleb
• Diary of a Professional Commodity Trader by Peter L. Brandt
• The Foreign Exchange Matrix by Barbara Rockefeller and Vicki Schmelzer
• Evidence-Based Technical Analysis by David Aronson

 

[FXNewbie09]

FXNewbie09, hello!

1 If you mean business tips in generally, I use lynda.com web-site. They have lots of good materials. If you mean particularly forex trading, I use FF materials. They have different useful tutorials, webinars, articles. All the information is quite clear for a newbie.

2 They seem to be rather professional, and I think it's quite good method to start with before you form your own view.

3 All depends on my goals and needs in the curtain moment.

4 I prefer to follow fundamental knowledges, not the mainstream ideas.

Interesting!

Never heard of either of those education sites but will check them out, especially since they seem targeted towards beginners.

Do you value an sort of fx news outlet? I've heard mixed reviews that some find them useful and others ignore them all together.

 

[Easy Trader]

Interesting!
Do you value an sort of fx news outlet? I've heard mixed reviews that some find them useful and others ignore them all together.

It depends on how your using the information gathered.

If your attempting to
gather longer term sentiment, most news outlets will do the job just fine. Assuming the trader is formulating his/her decisions based on the information, not adopting the opinion of the news providers, that's where trouble could happen.

If your attempting to trade news releases or instant shifts in sentiment then you would need something fast like the Reuters Eikon IMO. Keep in mind that no matter what you read or hear no one knows where price is going.

 

[Jonathan!]

My forex education comes from myself. I follow a philosophy called trial and error. I am willing to risk some money and make mistakes that will hopefully improve me. I do read various books, listen to economy channels, speak to my broker and visit forums but I prefer to go directly in it. Recently I have been looking for someone to trade for me. Looking for a professional team so I am using their education I would say.

 

[Fischer]

I started learning through babypips school and demo account at the same time. The most important knowledge came through self reflect on mistakes or losses. I started by using MT4 as i found it easy to get with. I also watch economic channels and information from my broker.

 

[fxapex]

With the increase in internet uses , there is a huge rise in the learning materials, you can check out forums or social networks which provide you with very fast solutions for your queries.

 

[Dmitriy Enrst]

I learned mostly by myself with books, webinars, courses, and of course the advice of those who have long been engaged in trade

 

[Binos]

That is the second thread on this forum which refers to the book reading. In this case could you guys recommend some book for newbie to read (the first means you know nothing about trading). But in any case I have own belief that it worth to invest some funds in practice.

 

[Enivid]

Kathy Lien's Little Book is a good start for a complete newbie.

 

[Ary Barroso]

Hello!

I have been trading on play accounts and am ready to take the plunge into trading and would like guidance on trading ideas, market trends and where to trade.

Would appreciate insight on the following:

1. Where did you get your trading education from, beyond the play accounts?

2. Do you rely on the views of the FX analysts from major banks and/or brokers?

Thank you for insight into the FX space!

No, I don’t rely on others trading analysis or anything else! I make market analysis according to my own trading knowledge and experience! On the other hand, I have learned Forex via Google and YouTube without any paid trainer.