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Thread: How to start...

  1. #1
    Rookie Member

    Smile How to start... !!!

    Hi,

    before you read my post: My english skills are not really good. I know that but I hope that you can
    read and understand my post.

    I'm really new to Binary Options Trading and Trading by itself.
    By really new I mean that I am 26 years old, learned something with IT and have no clue about Money and Trading. ;-)

    First thing first:
    I'm willed to read, learn, study heavily to get into trading! Trading was always a topic for me for several years that was so interessting for me
    but I never knew how to start learing trading.(Beside that I have / had almost no money to invest!)

    Two weeks ago I watched some youtube videos and there was a sort of scam-commercial for binary options trading.
    I knew that this commercial was a scam but I was flashed by the general idea of trading binary options.
    I thought that this is a optimal start for me into trading.

    I created an account on Banc de Swiss, put 100 EUR to my account and was ready for some 60-second trading.
    I thought that I will be rich in days... I lost all of my 100 EUR within 10 Minutes. :-/

    Of course I always knew that without knowledge I won't make any good trades
    but hey - there's a 50/50 chance to win.


    Alright. Now my questions to you.

    I want to learn trading. I want to learn it from beginning to expert. I'm willed to read and to watch videos A LOT for weeks, months, years!
    I don't want to start trading tomorrow or next week. I want to get knowledge before starting.

    Here's my problem:

    I don't know how to start.
    I read most articles on the BOTS's School, which were _extremely_ helpful. Thanks!

    Do you have any advices for me how to start learning?
    Books that I can buy? Youtube Vidos that are very good? Websites that I can study (beside BOTS)?

    As I already wrote, I am a super newbie! So don't tell me some expert sites, which will confuse me anyway.

    I'm a student who is deeply willed to learn all about trading

    Thanks for any help!

    cheers

  2. #2
    Moderator Kolyo's Avatar
    Hi bytecap and Welcome to CommuniTraders!

    It is great that you have the interest and passion to learn the trading business. If you read most of the articles on BOTS you probably already have some basic skills to understand what exactly to search for in the net. I couldn’t tell you which other site have good information or which YouTube video is the best. You have to decide this by yourself, but also you have to be aware that not everything that is told is true. Not every strategy out there claiming to be the best one, really is a good one. The best way to learn to trade successfully is to practice and to share your trading ideas with the other guys here. We have a wonderful demo trading platform with option to share your trades in the forum. You should try to use it. The thing I could say from my personal experience is that trading will always be a game of probabilities. The only thing you have to do is to make these probabilities to be in your favor. You will always have losing trades. Keeping the risk at minimum will help you to survive in different market conditions and to benefit from the profitable periods. Also good advise is to start with larger options duration. I am a big fan of short term trading, but actually it is the most difficult and dangerous one. The market noise and constantly changing market conditions will wipe out your account ones again if you want to bet very short term trades in the beginning of your trading. I hope you will find useful the information in the site and the forum and you will ask all the questions you want to know!

    Best regards,
    Kolyo
    CT Team

  3. #3
    Junior Member
    plan on reading "Stevie Nison - Japanese Candlestick Charting Techniques" when I get around to it.
    The title of the book should give an idea of what its about. :-)

    Btw. Why would you apologize for your English when it is clearly adequate. Fishing for compliments?
    Ok: "Your English is good dude

  4. #4
    Active Member supertrader's Avatar
    Quote Originally Posted by Neuron View Post
    I plan on reading "Stevie Nison - Japanese Candlestick Charting Techniques" when I get around to it.
    The title of the book should give an idea of what its about. :-)

    Btw. Why would you apologize for your English when it is clearly adequate. Fishing for compliments?
    Ok: "Your English is good dude"
    Candlestick approach is good for intermediate and advanced traders. It is a bit frustrating for newbie traders and it is not that simple as it looks initially. It needs deep understanding of the underlining mechanics of the market. The driving forces of supply and demand and also the major trends are the main factors behind the scene of the technical analyses. If you understand them and also the dynamic support and resistance levels you are ready to apply the candlestick trading approach.

  5. #5
    Legendry Member willyw's Avatar
    Quote Originally Posted by supertrader View Post
    Candlestick approach is good for intermediate and advanced traders. It is a bit frustrating for newbie traders and it is not that simple as it looks initially. It needs deep understanding of the underlining mechanics of the market. The driving forces of supply and demand and also the major trends are the main factors behind the scene of the technical analyses. If you understand them and also the dynamic support and resistance levels you are ready to apply the candlestick trading approach.
    Yes its not easy to master candlestick but not too difficult. Must have the patience and tolerance to learn. NOw we have the English version of candlestick so its not that difficult. When I learnt candlestick, there is no English version available, only Japanese version, had to get it translated.

  6. #6
    Active Member pipshunter's Avatar
    60 seconds is pure gambling! Better to start trading and learning how to trade from higher to lower time frame. That was my experience and it is positive. If you start trading weekly and monthly options and than move slowly to hourly options you will find how easy it is. If you start to trade immediately scalping short term options you will find yourself stuck to them and will never learn how to trade properly, never! This is the lesson from me.

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