DislikedHi everyone.
Has anyone got any advice for a complete novice like me. e.g anything else i should read, words of encouragement. anything would be much apprecaited.
Thanks everyone.
Whiteflame.Ignored
Though I'm not quite often post here, but I always have my time to read what people discuss here. Jacko (as well as fti, trader888, james16 and some others) are great trader to learn from.
First if you are totally new to forex, you still have long ways to go. Prepare for a marathon championship. The reward is you can make your own life anywhere you like, anytime you want to pull the money out and it will never be taken out from you forever (worthy enough?). If you haven't read the lesson from babypips.com , just go to the site and learn from the school. It is a good way to start. There are some senior traders there also which sometimes post their ideas and you can compare with your own analysis. Nope I'm not a babypips marketer.
Next is build your own trading mentality. This is built along with sharping your edge (trading method) and facing the market from time to time. Being discipline, rigid to your own rule, patience and some other emotional aspects are essential. The only good thing in ordinary life that WON'T prevail in forex is what we call HOPE. Forget hope while you're in trading. Abandon it. Eh, and don't forget to learn about Money Management also.
Start with demo account for better knowledge of platform usage. Next is start with small live account for trading mini or even micro. I recommend you to use mini or micro in the beginning because we tend to blow up our first account when we begin to trade . But the aim is to help you know how to maintain your psychology when facing the market. When you have manage you emotion well, the race will be much smoother though there are will always another things to learn.
Last, check what diallist posted here:
http://www.forexfactory.com/showthread.php?t=3156
Manage your risk accordingly and you're half done your home work.