Trade Future With A Plus
If you’re new to the trading scene and make an annual income below $250,000, I recommend you move on, as most regulatory bodies may not consider the investing activities suitable for you due to the risks involved, until… you’re ready to do your homework.
Published by FXgram on December 10, 2024
Starting out, you want to really understand the basics of reading candles, charts (technical analysis) and practice on the Plus500 platform that allows the unlimited paper trading (not just a 2-week demo account).
If I were new in your shoes, I would do the following:
- Read the candlestick bible until page 111 (after it goes into strategy). As you go through the material, look through the live charts to get an idea of how things move, etc. The candlestick PDF can be found online for free; you can search it up.
- After you finish this, you will want to start learning the strategy. Linked below is the Futures Academy with free educational licensed videos and articles.
- Paper trade using the above information to practice taking trades as you develop your system, finding out what works best for you, etc. You really want to collect as much data as possible to understand what works, what doesn’t work, what to improve on, what to avoid, etc.
- After a few weeks of consistent paper trading success (making more than you lose), consider trading with real money. Be prepared for the challenge of trading psychology. You’ll face emotions like greed and fear, and discover a lot about yourself. Use this as an opportunity to grow – not just as a trader, but as a person.
- Lastly, take your time! It is a lot of material to go over, it can be confusing at first but as you get in screen time. You will eventually be able to understand it. If you can spend at least an hour a day that would be fantastic.
That’s it. Good luck on your trading journey - you’ve got this!
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