Any Advice for a Beginner?

Hi all. Happy to be connected to aspiring and professional traders across the world.

I have written my first article on things I wish I knew as a beginner in trading, especially for those moving from demo trading to real trading.

Link: https://medium.com/@aaryanbhatia/mas...g-857910775af1

Looking forward to hearing your thoughts, suggestions, and topics you would like to hear of. Appreciate it.

Probably the best advice would be: less is more
Less trading will make more profits in the long run. Overtrading is the killer of the succes.
I found this by attending on webinar on scalping. I don’t know why but all beginners are affected by this trading strategy. Probably because it looks so easy to make 5 pips and get out of the trade. Indeed it is easy, but as a beginner scapler I was doing around 10-15 trades a day.
I was shocked when on the webinar I mentioned above, the trainer, who was an expert scalper revealed to us that he trades only 2-3 trades per week. He waits for his setup to be confirmed, executes with a large lot size, and gets out after 5 pips profit.

For beginners, focus on learning and practicing in a demo account first. Develop a solid trading plan, manage risks wisely, and be patient. Stay disciplined and continuously educate yourself. Don't rush into live trading until you feel confident and consistently profitable in your strategy.

Hi all, happy to announce that I have published my second article explaining "What is the craze of Forex Markets and Traders"

My intention is to help and provide useful information so I have made this article free for all of you.

Stay tuned for the next one where I explain the math behind the change in prices.

As always, looking forward to hearing your thoughts, suggestions, and topics you would like to hear of. Appreciate it a 100.

https://medium.com/@aaryanbhatia/why...fe8a1a1ac72b3a

If you can accept market is moving, you can trade. The problems is most of the stuff you can find not only here, do NOT really respect that point well.
Further the concepts are want to break the flow in readable parts, but miss the core part. Markets are moving!
So it comes to the destruction only because want like hold water in the hands. For sure the water will not forever in the hand.
I drop using all the ready mixed concepts, as they are more shine but not really the true gift.
Markets not fractal by nature, if so you will know what is the exact price tomorow.
Price is moving and that is enough to know. What can be done? First get this clear. Price is moving! Do not catch the free bird and prison it.
If you not aware price is moving, put a SMA 20 in your chart, turn off the candle view and watch. What will you see? Will this MA ever go flatline?
Further put a SMA 10 to it. What will you see? Can you see now how the two play around each other? And what are with putting another. What is now the picture if you put the SMA 5 to the combination of 20 and 10? Only these 3 moving lines will give you enough input to enter and exit in markets. Let it flow and sail the prices nature. Price is moving!

Absolutely agree with your take on embracing the market's movements. Your analogy and the shift towards simpler, more intuitive strategies, like using SMAs to understand market dynamics, really highlight the importance of flexibility in trading. It's a great reminder that sometimes less is more.

I guess I would have shits a little in my pants when I see them move 5 pips away with 100% margin. I mean, it is too risky for a scalper beginner that might overlook a heavy news (bad news according to his position) and burst his account if no SL was set.

Hi,

just started a demo account on pepperstone,

My plan/strategy is to literally trade supply and demand zones ?
using the 4hr tf

I have back tested on gbpusd, with good findings,

main questions are, swap costs holding over night and weekends? In that normal to do so?

Also starting on £500, with the aim to risk 3% per trade?

For beginners in forex trading, my advice would be to start with a demo account to practice without risking real money, focus on learning the fundamentals of trading, and develop a clear trading strategy with proper risk management techniques. As you gain experience, gradually transition to live trading with a small amount of capital and continuously educate yourself to adapt to changing market conditions.

Better ignore the h4 timeframe, because in this you have several starting points relate to the timezone and broker. If you can do, trade the hourly and down.

Hi, nice meeting you all.
I'm fairly new to trading and looking forward to engaging with the community

Hi Roomsey,

Happy to read you have good findings on your demo.
However I would advice to start with a small real money account instead of demo. Psychology is a big part in trading and your demo account is dispensable as anything could be. Resetting it is just one click of a button, no emotional connection whatsoever.

Compare that to trading 5000 of your hard-earned money, it's a totally different ball game. Start with a small account and the smallest lot size and gradually increase as you grow your account. That way your brain also gets used to handling bigger and bigger risk.

Many new traders going from demo to real money fail not because their strategy doesn't work, but because they mess up their money management when being faced with risking real money. Been there, done that, got the t-shirt :-)

The best of luck to you all!

Hi CaesarCrypto;

I trust you are well.

Like you, I also been there, done that and spent an eternity as a failed trader before eventually catching the drift. The great thing is despite the years of pain one undergoes whilst being in the wilderness of finding one's way, once an Edge is developed and sharpened, it renders all that previous pain well worth the effort.

Your advice to Roomsey is right out the top drawer in my opinion and I sincerely wish he considers it.

If I may respectfully add on to your suggestion, there are brokers who offer cent accounts where he could deposit the smallest possible amount, eg. $10 and get a feel for trading real money. The trade-off is the instant impact firing in order flow with a Live Account on one's physiology is not something which is quantifiable until the trader actually "feels" it.

Add to that, whilst back testing is something which a lot of traders seem intent on, I would caution new traders against expecting that trade ideas which yielded success in back-tested examples would yield congruent outcomes in live trading.

After all, the back tested examples are based on order flow at that specific point in time and the live environment orders, especially if within an accumulation zone represent a completely different buyer/seller equilibrium.

With the result, the dislocation which happened in the back-tested example cannot yield the same outcome as the current dislocation especially if volume is to be trapped in the current accumulation zone.

Thank you for your refreshing post and May The Markets Go With you.

Wishing you and everyone on the thread a pleasant day ahead.
Des

Greetings to all new and not only new. If anyone is looking for a book on trading I can get it for you. I have at my disposal a large library in the electronic version. It will definitely save you a lot of money if you don't buy it at full price.
You can write to me privately - book title or author.
I wish everyone good luck

I think this here is a way to save alot of lifetime, before reaching a good and stable trading ....

Search for

Cbot - A Six-Part Study Guide To Market Profile

.. not an easy read, but worth doing it, much deeper as many of the new books came out in the last decades ...

We believe that, as with all things, knowledge is crucial both for beginners and tenured traders. Practicing that knowledge in a designated environment before you dive into the charts is highly recommended. If you are new, you can check out the Beginner course in the ThinkMarkets Academy here: http://www.thinkmarkets.com/en/tradi...ulty=beginners. There is also a learning path dedicated to experienced traders here: http://www.thinkmarkets.com/en/tradi...ty=experienced.

In Academy, you can find plenty of articles that are easy to digest and can help you make more optimal decisions once you start. As soon as you have a basic understanding of the ins and outs, you can go ahead and test your strategy with a ThinkMarkets Demo account! All of this is completely free and allows you to practice before starting your trading journey. We wish you good luck!

Consistent profits come from disciplined trading, not consistent monitoring of PnL.

i am a beginner too i have been at it for a year. id like to share my exp maybe it has value for you. i started did not know a lick was afraid of everything it well into my ignorance. so i started trying things got a trading view account and started spending time in the market. my confidence grew the more things became familiar with. i started connecting the dots seeing how things were similar. the more time i spend with trading and trading education the more becomes apparent. i started with crypto automations and pinescript, didnt work well for me as being in the beginning though i see there is a use for it and am glad i am familiar with it. will likely use it in the future if i find success. then i went to ea's and prop firm accounts still was not successful i didnt lose though i did not really win either. then i decided id try manual trading which i am still trying but not that confident in, so i decided to look over trading with indicators. found i could get some wins so-so still was not what i was looking for. so i decided to write my own experts. i am testing a working theory. its in development, profitable & i am making adjustments then ill likely start the first draft of coding in the coming weeks. i still feel as though i know next to nothing though my knowledge base would have to have increased 1000's x percent%. i know subtle things that became apparent. like i could tell you indicators and ea's usually have a preferred price action that they work well in that they favor and if you can find one that works well and keep it in its desired price action and keep it out of the areas it does not favor it will likely perform well. or the basic indicators most that come with the terminal can be arranged in various configurations can produce highly accurate entry signals given the right combination for asset with agreeable price action structure and time frame.

seems intelligent though i don't really know how i arrived at this information and know i am just scratching the surface that i really don't know all that much and a more experienced person could expound on my assertions and run circles around me. I guess what i am getting at is spending time daily messing with the stuff and in the market over time has been yielding results. understanding through osmosis.

i started as a b-day present to myself i just wanted to do something different. i tried and researched and did a lot that was not working. though i liked it and found it all valuable and interesting. there was some considerable aggravation and some sleepless nights though those things helped me gain understanding.
it took a year now i have a working theory that is simple unique effective and is something i am pleased with and proud of cause its all my own no one told me how to do it i figured it out on my own. i am super excited to implement it not sure how its going to turn out though with it i am moving in a positive direction.

just wanted to share my thoughts it may be of benefit. every step i took and still need to take is largely started by becoming familiar with something new and unknown to me a couple months ago i had apprehension about getting into meta editor. now i am confident and used to it just had to get in there and mess with it for several weeks was the same way for me with charts and becoming familiar with different assets and currency pairs and there correlations.

i try to be honest and humble with my understanding and exp level. i should likely be asking the same question to participants of this forum or you the same thing. i am still a novice. i wanted to do something different and make a change as a b-day present to myself and with effort over time through trial and error i have learned alot that i did not know before, gained confidence through repetition, and it looks like i might actually make some $$ or come up with something that functions and works.

the main conclusion for me is spending time in the market and with the education has yielded results and understanding. wanted to share in hope this maybe a little help. best of luck on your journey.

I need daily forex quotes in tabular format for multiple currency pairs. Where can I get them? Thank you for helping me.

open a cent account not demo,
take screenshots of all your trades. and record them in excel.
Every end of the week start analyzing your trades.

Look for similarities what went good and what wrong?

unlearn what went wrong

repeat process, it takes years to optimize your strategy so take your time