Updated: Mar 13, 2019
As promised, I'm hooking you up with sites and apps that have been helping my journey. The best thing is, they are FREE.
Trading the market has been existing for decades now. But with the digital boom and its availability on the internet, laptops and smartphones have instantly become convenient money-making tools. No doubt it’s gaining attention and steady following. Suddenly, people wants to trade. But don’t know where to start. I’ve gone there. I’m sharing with you what I’ve googled to know the basics.
First, find a broker to set-up your account with. Then, fund it with at least $100. If you’re not yet totally hardcore about this, you may just get a free demo account.
Download the MetaTrader app.
Then, you’re good to order and start trading. But what are you going to order? Or how do you even make an order? And endless questioning commences. I turn to the following sites below for answers:
Babypips will teach you step by step.
It has arranged lessons from beginner to advance levels. I understand that some are not into reading texts and find charts a boring reference. That’s where we come in. I will likely reiterate its lessons but will try to put them in a more dynamic material.
Investopedia is the Merriam-Webster of the business language.
Find here the trading jargons you don’t understand and get familiar with them. At the very least, please know some words so that when you ask (me, long-time traders, or coaches), you get sensible answers.
NialFuller, an already highly profitable professional trader.
He’s a generous source of trading ideas and techniques through his blog and social media. I’ve treasured some of his lessons. And has incorporated them into trading. Since then, my trades have higher survival rate. Of course, I’ll share them soon with you. In style. Lol!
Forexfactory is a quick source of economic news organized by time of announcement.
This is very helpful for Fundamental Trading. Even if you’re not into that, it lets you anticipate potential big movements. Then, time your trading if you’re gonna jump in or steer away. I also use this site to synchronize with markets’ time of open and active sessions.
As I’ve mentioned in previous articles, currencies are traded in pairs (UsdJpy, EurGbp, etc.) Prices move like a tug-of-war according to economic strength. Knowing correlations and match strengths helps you what pairs to focus on, in what type of order (Buy or Sell), and ride movements efficiently.
For those who don’t wanna watch the market regularly, Call Levels can alert you when the prices are on the levels you plan to trade them. This is also great for those who want work-life balance from trading.
Remember, these are starters and supplementaries. Please strive to come up with a trading plan and techniques that work for you.
How will you know what works for you?
Trade. Trade. Trade. Know your trading self.
Find out if you’re into long-term trades or quick ones. I myself have yet to stick to a trading identity as I loooooove trading no matter the time frame.
Happy trading everyone!
@marilesaca || Trading Kitten :3
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