Best Way to Learn the Stock Market

Best Way to Learn the Stock Market

If your objective is to learn how to trade Forex and by that, I mean be able to look at a chart and identify high probability trade set ups, then some work must be done.

The Foundation of anything generally takes the longest and has the least rewards visually. Yet without a strong foundation, a business, house or anything really is likely to fall over.

So how do you get the information?

There is so much stuff on the internet about trading it can boggle the senses. Trying to wade through it can cause more frustration then progress at times.

There are a couple of things to consider.

What is your expected outcome?

By this I mean, you are wanting to learn how to trade Forex for what reason?

More money, be my own boss, rule the world, freedom all valid reasons or most anyway.

Like any business a good strategy is required to move forward and achieve results.

How many strategies does one need to make money trading Forex?

Just one.

 

Best Way to Learn the Stock Market

Best Way to Learn the Stock Market

How many strategies can I Google in 5 mins, probably hundreds…hence the confusion.

We need to narrow our focus, know what our expected outcome is, build a foundation and work step by step to achieve it.

Trading is a business and must be treated as one to create success.

So, learn the lingo or trading terminology, find one strategy and test it over 20-30 trades.

Document your results, know your expected outcome based on your testing. If it’s not good enough what can be tweaked to improve it?

Once you have a test sample that meets your expectations, you are potentially in a place to trade and trade well.

You know what the reality is, most new traders don’t know or even consider testing a strategy over 20-30 trades to see if it is profitable.

They have a trading platform and a mouse and start clicking away, while the other hand has fingers crossed hoping the trade will go their way………

Get educated, get a strategy, test and measure it, build your confidence so once you enter the market you do it as a professional not as a wanna be.

If you have any questions on how this process works or would like to chat about how Forex trading might be a good fit for you feel free to check us out at  www.journeyto1000pips.com.au

See you on the inside!

 

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