Well, you've already gone a long way to the moment. They studied the essence of the industry, basic psychological moments, understood how to manage money effectively. Everything is ready to work with the schedule.
And here it is, the schedule, before us. Next, I want to tell you a very, very important thing about learning trading. Perhaps this is the most important lesson of all that is presented here on the site. You must understand it before we move on to the theory and practice of technical and fundamental analysis.
Trading is full of paradoxes. The curve of his study is not linear at all, on the contrary, it is a labyrinth where it is very easy to get lost.
First, when you are only acquainted with this, everything seems simple. You, approximately, represent it to yourself this way:
• I study the basics;
• I find a successful strategy;
• I work on it.
You know what? It will not work. It will not happen. Everything is much more complicated and simpler at the same time.
CURVE OF LEARNING
Let's walk through every step to understand this.
Learning the basics
With this, of course, you will start and you need to start with this. Every person that comes into trading faces the need to regularly give accurate forecasts for the prices of the most diverse assets.
Is it easy to predict the ratio of the dollar to the euro in 15 minutes? Is there any way to do this? And what will the share price of Apple in an hour be? And a day later?
Questions, questions. A lot of questions. To understand this, you need:
• Technical analysis - the art of graphic forecasting;
• fundamental analysis - the art of predicting based on economic data.
These are two key tools, the basics of which you need to own in order to earn in this market. Without them, no way. Then the toolkit expands, other types of "analyzes" are added to it, for example:
• candle analysis - the art of predicting candle patterns;
• Indicator analysis - forecasts based on indications of indicators;
• volumetric analysis - forecasts based on data on trading volumes;
• no-indicator analysis - expansion of candle analysis;
• statistical analysis - the realm of statistics and the processing of historical data;
• complex analysis - a combination of all other types of analysis.
Analysis, analysis ... a bunch of different analyzes. This is where the problems begin. And here's what you come across:
The more you read and study, the less you will understand.
This is a natural process through which every trader passes without exception. As you read, your mind will be filled with information.
Each of the "analyzes" contains hundreds or even thousands of concepts, concepts, definitions and strategies. Moreover, many of them also completely contradict each other. Quite a lot of trader books deny each other 100%.
At some point, your head will resemble a pumpkin, and you will understand much less than when you started. "Porridge in my head" is the softest definition that describes your future state.
Why is that?
«SUCCESSFUL STRATEGY»
The market, if you take the Forex market with its currency pairs - is the most liquid and rich market in the world. Its turnover is many times higher than those for all stock exchanges, such as NYSE or NASDAQ. They just are not comparable.
Tens of thousands of banks, funds and organizations are working with this market. Millions of traders. As we know, most of them lose money. This means that they would sell the soul for ... the notorious "successful strategy".
• Question: Is it possible to find such in the finished form?
• Answer: Of course not.
Any owner of the strategy, which was guaranteed to give accurate forecasts for the market, would become a multi-billionaire in the shortest possible time. This would mean having a strategy that is "smarter" than all other market participants. All these bankers, professional traders and foundations with their supercomputers and cunning algorithms.
What do you think, what are the chances that you will find such a strategy in Google, in a book, on some site? Correctly - zero.
There is no such strategy. Months, and sometimes even years, pass before newcomers come to realize this extremely important truth.
But allow me, you will say:
• And what then do the numerous schools of trading sell?
• Why are there so many indicators, each of which seems to be "effective";
• Why are there so many teachers?
• And why tens of thousands of books on trading is written.
And here you need to understand one more extremely important thing:
No school, teacher, indicator, system, strategy do not know where the market will be.
They do not know. In this newcomers is extremely difficult to believe. "Well, how," they say, "they sold me a successful strategy." So I signed up for paid training, where they guarantee that I will earn. Here is the indicator ... or the system ... here on the forum described the strategy, which make money.
If you immediately part with infantilism, with naive youthful maximalism, which is preserved in people sometimes to a very old age, with faith in Santa Claus and other magical stories, then it will come to you: there is no ready-made profitable system.
The market is a theory of probability, and not a door, the key to which can be bought or "naguglit."
A profitable system can not be bought. Download. To find. Learn in the book. Get a seminar or webinar. She's not here. Take this bitter pill immediately and you will save yourself, thereby, months and years of looking for a black cat in a black room that has never been there.
What then?
INDIVIDUAL SYSTEM
Here we come to the very essence. If there is no ready system, then how do the market participants earn money? This is the most important lesson of trading:
The market earns only by individual systems.
Namely:
• algorithmists create trading robots based on mathematical models;
• traders who work manually for thousands of hours "pump" their minds for the perception of the market on an intuitive level.
In trading, you can earn steadily only by your system, which you created for you. It can be absolutely any, look like anything. It will be based on thousands of hours of experience and practice, on the study and modification of other people's experiences. It will be based on the key psychological characteristics of your personality. This is the only way. Any ready-made strategies and systems that you will find will only demonstrate a theory of probability. And it will default against you.
Beginners constantly fall into this trap. They find an indicator, an unacknowledged or a combined system and get good results with it on the first day. "This is it," they think, "the button money is found."
No, not found. Day is just grimaces of probability theory. Just like a week and a month. Only reporting for 3-6 months will allow you to get a first understanding of whether you are moving in the right direction. Only a year later you will be able to realize this more confidently.
All strategies, indicators, the entire legacy of technical and other analyzes are meaningless to consider on a day-week scale, and you must understand this right away.
On the Internet, a lot of traders share screenshots of a successful day or week. Do you know what will happen next? Six months later, 80% of them will not be - the market will devour them. Nobody likes to show their achievements for the year. Because in a year there will be 1 person out of 100, at best. This is the price of delusions and "ready" strategies.
HOW TO LEARN TRADING CORRECTLY ?
What to do if there is no success in the recipe? You need to create it yourself. And here's how it's done:
• You study all the basics that you can; Learn long and hard;
• You study ready-made systems, indicators, eagerly adopt someone else's experience;
• you, like a sponge, absorb everything, everything, everything that can be absorbed;
• You read trading books, forums, sites and trader systems.
In your head regularly there will be such impassable porridge, just to tears, to despair. But it's not scary - you need to rest, sometimes a week without opening a schedule and trader books. And then go back to business, to the very basics.
And all this should lead you to the fact that you will have a leaf A4, which will describe the essence of your TS - trading system. It will happen when you find the very thing "your own".
This leaf (or leaves) you will rewrite many times. Time after time it will seem to you that you have found it, the Best Strategy in Your Life (SLVD). But LFEL will let you down, all the time. And you will change it again and again.
That is why the market does not withstand more than 95% of traders (and even all 99%). They come here for money and are completely unprepared for what awaits them. What:
• no ready systems;
• that one must have immense perseverance and patience;
• What months and years can pass before you find your way.
Ah, these sweet, infantile dreams. It is difficult to make money from the market, it is necessary to go through a very difficult path. And by "earning" I mean the months, quarters and years that are closed in the plus. And not a fortunate couple of days that novices love to show in their screenshots.
CREATE YOUR OWN
Therefore, understand a simple thing:
Everything you read, learn and learn should lead you to your personal trading system.
This is the only way. No school or teacher will give it. They stand on one step with the trader books and training videos.
A good teacher will never "push" your system in you, he knows - it's useless. Its task is to save you from the main mistakes and share your extensive experience so that you, after going through the trader stages, have developed your understanding of the market.
As always. On the Bollinger bands made hundreds of millions of dollars and that - by putting them, you will become a millionaire? Of course no. Because there are no universal recipes.
THERE IS NO UNIVERSAL PROFITABLE STRATEGY
I understand the disappointment of those newcomers that are stunned by the amount of information and are waiting for an experienced trader to give them a simple strategy for half a page. Here it will take and somehow archives years of experience in several sentences and a couple of pictures.
Citizens, this is impossible. Anyone who offers this to you is a banal rascal. You will have to learn, for many months, to pass through a lot of information before you get it. And there are no guarantees that anything will happen at all.
A good teacher gives his understanding only so that you can create your own.
The only way. Any paid schools, teachers and other courses, where you are guaranteed to enter profitable trade, just lie. Brazenly, considering you a fool, from which you can easily cut money for promises of "guaranteed" earnings.
If the school or teacher owned a guaranteed method of earning money from the market - would they sell it for pennies to everyone? The owner of this jewel himself would have bankrupted all brokers within sight. This is much more profitable than keeping the school and ripping from the beginners for $ 500 for the next Grail.
They do not know the secrets. You get only formal training. In the best case, you will be helped to order that porridge in your head that is continuously formed when studying a variety of different systems and simplify the process of finding your system.
Well, people and organizations that give you a "100%" guarantee, promise specific amounts and interest, these are classic scammers on trust.
A normal teacher that you can meet, nothing will be guaranteed. He simply shares his experience, helps to avoid the most blatant mistakes that so many beginners have. But then everything will depend on you.
At forums like ForexFactory or EliteTrader thousands of systems of practicing traders are presented. There are an incredible number of them. Hundreds of strategies are on our forum. There is everything except the button "money". Because it's someone else's system. Because behind their formal rules are hidden years of experience and foreign practices on the market.
For you take its formal content - a few simple rules. But you can not take by magic and take over thousands of hours of practical training. Legendary psychologist Norman Welz, specializing in "pumping" consciousness, somehow invited 120 traders and, as an experiment, taught a clear, specific trading system. In plus was ... already 1 person. Out of 120. This is far less than 1% successful.
This was once mentioned by Lane, the creator of the stochastic. "Funny," he used to say, "like what works for you does not work at all for other guys."
It's true. Millions of traders bet stochastic, units build it into their trading systems successfully. All the rest receive only a continuous rally of disappointment. They lose money and lose money every minute.
Therefore, there are no guaranteed indicators, systems, schools, individual coaches, etc. There is only help, which sometimes allows you to pull the mathematical expectation in your direction. And your success is in direct proportion to your personal efforts.
ADVICE TO A YOUNG TRADER
What would I say to myself, green at all, if I could go back to the past?
I would:
• forced himself to part with illusions about guaranteed successful strategies;
• would explain that all of them are successful and not successful at the same time - in different hands;
• I would not expect stable income from the market;
• would tell you that it is very, very incredible to love this brutal business-trading, so as not to break with failures;
• explained that each author of strategies in books, schools and sites considers them "best", but they are not such or are only for the author himself;
• I would not look for the button "money" (it is not);
• based on everything that I learned, read and studied, I would continuously create and improve my trading system.
Alas, I spent, like all newcomers, months on the running around the Grail trader, having lost a lot of time on this.
TRADING GRAIL
Here's how it will happen to you:
• You will find a book, strategy, system or video that will greatly inspire you;
• it will seem very logical, understandable and profitable;
• you will try to earn with it;
• and lose money on it after a period of time (week-month-quarter);
• you are disappointed;
• if the disappointment is too great, if you have lost a lot of money - your trader's career is over;
• If you have mastered yourself - you will run further, seek a new Grail.
And how to learn correctly?
Prepare yourself in advance that ready-made recipes for trader success do not exist.
That you do not read, learn, see and hear - all this food for your mind. The nutrient medium in which your brain finds (if you do not give up, of course), your approach and your view of the market.
It is this approach that will become profitable for you. It can be anything, from a simple crossing of two sliding to a powerful system with dozens of factors. Continually changing and improving it, you will reach the desired state of calm, which many professional traders work with. All of them are trading, in fact, not the market at all - but their own understanding of the market.
How much time will it take to train?
And how long does it take to become a talented, professional musician? Writer? The director? Photographer?
Do not know? But this is what newcomers want from the market. They come here and demand that they be given a recipe how to become a famous photographer, which makes magical pictures that win at contests and are shown at exhibitions.
Is it funny? Of course it's funny. People with cameras are millions, and talented photographers for some reason are thousands of times smaller.
YOU IN THE FUTURE
And that's what's interesting. Once, if you have everything with trading, you will close the year in plus, perhaps, it will not be too bad here (let's be optimistic for a minute). And there will come a time when a friend, a friend, a relative, just a person from the street will ask you "How do you do it?"
And just at that moment you will understand the complexity of describing the "secret of successful trading". That is why many successful traders conduct their schools, teach, tell and try to pass on their experience but ... they will again be able to take advantage of the units.
Because it's extremely easy to copy someone else's style or strategy. We open the textbook of Larry Williams and earn it like it, right? The same millions of dollars. After all, his books describe all the strategies. However, common sense dictates that it does not happen. Otherwise, only the students of well-known traders would earn on the market.
In fact, the chances of all are equal. Success depends only on your efforts, on the application of your potential to the market. And wait for miracles - you are a little mistaken with the industry :) It's hard to imagine a more ruthless, cruel and sobering place.
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You just have to be patient too. You can't just expect to become a millionaire overnight. You're mostly in it for the long-term.