Transcription
If I were a complete beginner right now, this is how I would learn to trade. If you've ever wondered how you should learn it and you can't find the answers, then this video is for you. More on all of this, after a short intro, I'll come with the details.
Since this is a constantly recurring question about how to start learning trading for a complete beginner, I will dedicate today's video to this topic, and it will be useful not only for beginner traders. I will present the entire process, how I would approach it, if I had to start learning trading from the beginning. I note that it will be much easier for you today than it was for me 10 years ago.
If I were to answer this question very briefly, I would say that you have to learn to learn. What exactly does this mean? Unfortunately, we know that nowadays only the knowledge acquired at school will not be enough to get by, so you have to continuously train yourself in addition to school or work. Otherwise, you can quickly drop out of the labor market if you do not have marketable knowledge.
What used to work was that you learned a trade and all you had to do was work and prosper. However, according to an expert, if a person does not learn new skills at least every 5 years, he can easily leave the labor market because the needs change so quickly, and those who do not adapt will be left behind.
The good news is that there is a solution, namely the world of the Internet. Today, there is such a large amount of information on the Internet that you can learn complete professions almost completely for free or much cheaper than, say, in a traditional school, and in a much shorter time. That's how I learned to create a website, stock market, take photos, and edit videos, and it didn't cost me a penny; I only had to dedicate part of my time to it.
What I can say today is that from what I have learned on the Internet, it is unbelievable how well you can still get by these days, thanks to the Internet and the people who have uploaded this much useful content. It's a fact that it doesn't hurt to know at least English if you want to learn from better quality content, but nowadays more and more good content is available here too.
See, isn't it, it's almost forex, and here now you have to push hard that this is so, but aside from the just kidding, let's talk a little about what mistakes can be made in the learning process as a beginner. Obviously, you have to start somewhere, and that's why you can quickly get lost among a lot of information nowadays. This is what gave us the idea 2.5 years ago to get into content production, and everything that is worth knowing about trading should be available to everyone in one place, and of course, completely free.
So no one can complain that there is no opportunity for them to learn, thereby wasting a lot of unnecessary rounds and time for everyone. At the time when I started, traditional paid seminars and free road shows were still the most popular. Even at that time, there were good materials about trading on YouTube, but they were mostly in English.
I also started to gather knowledge from these videos; there were Hungarian videos even then, but they mostly only pulled the strings in front of you, and if you wanted to know more, you had to subscribe to a course, which we know what it was about at the time said, so I preferred to go my own way. At that time, I ran through all the unnecessary circles on the subject before I realized that most of the things were just scams or course summerization.
At that time, a lot of foreign books and several Hungarian books were published; I tried that too, but you can't learn to trade from books. I think it's an unnecessary waste of money. After getting tired of a lot of useless information, I decided to let go of all such external information for a while and just focus on the charts, try to find correlations based on what I've learned so far, that I notice myself, and in the end, it worked out the best.
I drew an awful lot of lines before I found the levels I was using, and the image finally came together. I will never forget the moment when everything turned in the right direction and the results started to come; that's when I understood that your very important thing is that you only lose if you give up prematurely.
However, I must note an important point here; there is nothing wrong with giving up. It can mean two things. One, giving up on something can mean that you tried it but realized it wasn't for you, and that's how you've become more experienced. The second is that you will only give up on things that weren't important enough to complete.
If you are passionate about something, whether it is a hobby or anything else, you will persevere despite the difficulties because you enjoy the process. It's exactly the same with trading. Those who do not only see the money in trading but also enjoy the accompanying processes, despite the difficulties, one feels deep inside that this is my path, this type of work, which is close to my personality.
Those who have these feelings never give up, no matter how long it takes. Returning to the mistakes you can make as a beginner:
1. You follow the work of too many people at once. The only problem with this is that after a while you will get confused, because everyone swears by their own method, which is tailored to their personality. That's why it's worth learning a strategy first, testing it, and if you like it, tailoring it to your personality.
You can easily pick up bad habits if you start learning in an inappropriate way at the beginning, which can affect your later development, and it will be difficult to get rid of them.
2. If you start day trading as a beginner without any prior experience and knowledge, day trading is a serious challenge even for a professional, let alone a beginner. Mentally, few can manage it well, and very few traders manage to remain profitable for a long time. In the long run, you won't have a success medal this way, and it's only a matter of time before the many failures grind you down mentally.
So I recommend using higher time planes if you're thinking long term.
3. The third mistake, which I made for a long time, was that I filled the charts with all kinds of indicators, and because of this, it diverted attention from the essence, the candle movements. All the necessary information is there in the shapes and candles. You have to learn this; read well. Most indicators work from data that may have come from the past, and in most cases, they signal too late, so keep your charts clean.
4. The fourth mistake is that I waited too long to ascend to the higher plane of time. I could have been profitable much earlier, but since everyone was hyping day trading at that time, I thought it would be good for me as well. Yes, there will be fewer bindings on the higher time planes, and you will need more patience and self-armor, but that is the point, the high-level development of these two skills.
5. The fifth mistake you can make is using too many time planes and constantly jumping between time planes. This will only confuse you more. You need two time planes in total: one where you watch the direction of the trend and the other on the lower time plane where you bind. Don't use multiple time planes.
6. Knowing human nature, even though I say these things regularly, 90% of people don't do this, and then they don't understand why the results don't come. Unfortunately, human nature is like that. Even though I pass on the knowledge, for some reason, the majority still chooses the more difficult path and runs their own circles.
Then let's see how it would be worthwhile to start to get results. More than 230 videos on my channel contain everything you need to know about trading. There are things that I deliberately do not talk about because they are not necessary for successful trading, especially on Forex.
That is why I do not talk about indicators or robots, because you can get along beautifully without them. So the first step is to register a demo account with a Forex broker. Choosing a good broker is an important step because later on, when you switch to a live account, it doesn't matter what conditions you will be trading on.
Right, you have two options here; either you are looking for an MT4 broker or, for example, XTB, the advantages of which I would not list now, because I have already talked about it in several videos. XTB has its own developed platform. Metatrader 4 is perfectly fine for trading, but it has an outdated interface. It has disadvantages, especially in the area of opening and closing.
If you have a demo account, I recommend that you add it to your channel's playlist. There are three separate mini-trainings where I present the entire process based on which aspects I trade. It is worth starting with these videos and practicing drawing the levels you see there.
Don't worry if you won't understand everything at first because it will all take time, but if you're done with the mini-trainings, I recommend starting to process my videos one by one, starting with the oldest ones. The more you watch my videos, the more sense everything will make.
It often happens that someone watches two or three of my videos and starts asking questions from there. Believe me, most of their questions will be answered in the videos. I know that many people are enthusiastic and should have the answers immediately, but first, you have to put in the work, watch the videos, and if you still have questions after them, I will be happy to answer them.
Then there are the basic concepts. I often get from beginners that what I'm talking about sounds quite Chinese. These are mostly Forex related terms. In the description below my video, by clicking on the Forex basic concepts link, you will find the most important concepts that it does not hurt to know.
You can also find a link about demo and live account registration, how to withdraw and transfer money, under the heading "quick soles." As soon as I have some time, I will put together another playlist from the existing videos, in which I will collect the most useful videos, on the one hand, based on the viewing data, and maybe I will ask you for a little help to suggest videos that helped you the most.
This way, there will be a complete video series, which will contain the most important information for trading, so it is not necessary to watch all 230 videos first, and you will be able to get started more easily.
It's not by chance that I gave this title to today's video: "Learn to Learn," because I see that, especially among younger people, despite the fact that they are the generation that was born into the world of the Internet, they still answer such simple questions, as e.g., I am often asked how to set the period separator in MT4.
Which is no problem, but if you put it in the search engine, you can find it in seconds. As they say, Google is your best friend, so Google is your best friend, just as I learned to search the net at that time and didn't ask anyone for help because if I was interested in something, I looked for it.
I just want to say that everyone needs to be a little more independent because everything is really on the internet, and if you can't find something in my videos at first, you can search for it.
So to summarize, if you are new to my channel and don't know how to start learning how to trade, just follow these steps I mentioned above. One of Geri Vee's great sayings is that if someone can't find even one free piece of information on the net, how do they want to be successful in life?
I think this is a very apt saying since we have no choice. If we want to prosper, we must constantly educate ourselves, learn to earn; it's all a given, thanks to the Internet and YouTube.
I am very grateful that thanks to this I can finally live a free life, which I have always wanted, but before that, I also put in thousands of hours of work to make it come true.
So learn to learn, take advantage of the fact that you can live in a time where prosperity has never been so easy as it is now. If you have a smartphone and the Internet, you can't complain that you don't have opportunities.
And you can learn to trade from my videos; who puts in the necessary work, and more and more people have already indicated this to me, so the knowledge is there, what you do with this information is up to you.
Neither a paid course nor mentoring will help you learn faster if you don't put in the necessary work and learn to read charts and work on the psychology part. You cannot save this time with these either; this chore is only waiting for you.
No one will do it for you; it is better to clarify this at the beginning. Well, I think I have managed to say the most important ones since this question has often arisen recently, especially from beginner traders about how it is worth learning this trade.
So I thought I would make a video about it as well. I hope I was able to provide you with useful information today, and now there is no obstacle for you to know how to start on the path of becoming a trader.
Everything is given; you don't have to hunt for information on the net. You can find everything in one place on my channel; you just have to put in the work, and you can become a successful trader.
This is the end of today's video. If you have any questions about the topics, write them to me here in the comments. Ask questions, suggest topics, give your opinion; you can find all contact information in the description below the video.
So all that's left is to thank you for your attention today and see you soon in the next video, and you know, just honestly.