knowledge and skills
- Thread starter Ara
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Hello Ara,
It is important to stay updated with market dynamics, and I suggest that you continue to learn, and review your trades to understand what went right or wrong and how they can be improved, maintain a trading journal, and continuously review and improve your risk management strategies.
It is important to stay updated with market dynamics, and I suggest that you continue to learn, and review your trades to understand what went right or wrong and how they can be improved, maintain a trading journal, and continuously review and improve your risk management strategies.
Risk management is a big one. You can learn from books, online, educational platforms
I started trading when i joined ellev8, it helped me with everything i need to know
I am happy to send more information if you're interested anyway lol
Goodluck on your journey and keep emotions out of trading is key also, minset. I don't trade at all if i wake up in a off mood etc, you never want to take that into your trading. Some of the best advice i got lol
I wholeheartedly agree that staying updated on market dynamics and conducting post-trade analyses are pivotal for refining our trading strategies.
All successful traders share the same quality: a strong thirst for knowledge. Because of this, learning should be viewed as a lifelong endeavour if you want to make a living through trading. You can do it by using tools like trade books, blogs, and webinars.
Since it is one of the biggest markets in the world, the foreign exchange market is extremely volatile. As a result, maintaining an advantage in the currency market necessitates ongoing modification.
Since it is one of the biggest markets in the world, the foreign exchange market is extremely volatile. As a result, maintaining an advantage in the currency market necessitates ongoing modification.
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Becoming skilled in trading and understanding market dynamics varies for each person, often taking several months to a few years. I think you need at least two years. How fast you learn depends on how much you practice, your experience, and how quickly you can adjust to new market situations. keeping a trading journal and regularly checking that can help you learn faster.
Two years is quite a long time, and personally, I would focus on a metric like a consistent monthly income. For example, the goal might be to generate enough income to eventually leave my primary job. However, for now, it just doesn't seem feasible to me (
Communicate with more experienced traders constantly, kind of like what you are doing right now; take online courses as they help out with almost everything; stay informed on whatever asset or pair you trade the most; learn about the near-term economic prospects of the countries your favorite pairs are from; and just keep in touch with the community.
"The Daily Stoic" by Ryan Holiday and Stephen Hanselman was my discovery last year. Fantastic book that offers daily insights and exercises that are very practical and applicable to everyday life.
The first thing that comes to mind that is easily accessible is the School of Pipsology by Babypips. Aside from that, the AT online course, as I was told, is another great course.
Awesome and, of course, worth the time you spent on that. Consider reading a famous gathering of letters from Seneca called "Letters from a Stoic." It would help you immensely to keep a calm state of mind in all situations you might face in your trading experience. A classic Stoic piece that discusses issues viewed in daily life experiences.
in this business numbers are everything
they show you how you are doing
your profit - the amount you are making
so test your knowledge on demo and see how's it going
they show you how you are doing
your profit - the amount you are making
so test your knowledge on demo and see how's it going
My next book is "Meditations" Marcus Aurelius. I have decided to delve deeper into the subject of Stoicism )
An incredible piece of work from an incredible ruler. Great choice.
I am sad to say no, but I have read about it here and there, and it is a staple of any conversation about Stoicism. Nothing but praises.
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