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RedJoker81

What market to focus on for beginners? Stocks or Forex

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Hello, I wish to get into trading(maybe day trading).  But my question is what should I focus on learning, stocks(btw I know about the $25000 limit but I don't know if I am going trade that many times a week) or Forex, atm I plan to start with 500-1000$. My background would be that I have taken an economics class in which one part was stocking as we had to play a stock market game for around 3 months. Also if you are wondering I don't plan to start real trading for at least a few months(I Plan to practice with demo accounts first and find a profitable strategy first). Thanks for the help! 

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Hi Red, I think starting with forex will teach you to stay calm on the market, which is a big plus in the early stages, so I'd suggest that. Not sure how new you are to the business, but check out Earn2Trade. It could help you at learning as well as an option for funding. Just a way to start off.

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RedJoker81,

this question is bizarre... I couldn't possibly make an answer anywhere near bizarre enough... anyways

I think you should look inward instead of outward for answer(s) to this question. Which one are YOU best suited for? 

Totally unconscious about it?  If that's the case,  try both stocks and fx trading at the same time.  You'll find out a lot about yourself and the markets and which auctions you can most readily align with...

Those who look at trading as a creation of self and systems instead of as a problems to be solved have a much better shot at sticking around.

 

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    • Hello! I'm afraid there is no such thing, personally I have been trading live for 15+ years now, lost a bunch and won a bunch, and I can say that I'm still learning, and I probably will never stop learning because the markets are so incredibly complex, if you ever meet someone saying he knows it all about trading, he is most definitely lying. but you are in luck. you don't have to know it all to be consistently profitable in the market, you just need to find that specific thing, what ever it will be, and that is the hard and time consuming part. Trading got to be the most complex and hardest profession you could ever learn, I believe there are no shortcuts, the professional traders, banks, hedge funds etc you are trying to extract money from, and "consistently" are people making millions of dollars in a year, I'm sorry but I don't know of any method or course where you can learn to beat those traders. seriously this question is ridiculous when you think about it, ( no offense) I probably asked the same question in a forum somewhere my self when I was starting out, somehow we don't ask our selves these things, it is like the greed are blinding us, if you want to be a trader with the ability to win consistently from the market, there is only hard study that matters, and I don't mean following something somebody else cocked up. that will only brainwash you with probably a messed up base knowledge, and this is bad because as you probably know it's hard to teach an old dog, that is because the unlearning is so hard, avoid other traders ideas, don't even read about it. it will affect your brain subconsciously to mess with your decisions in the future, things you read will probably will be 99% garbage anyway. except this post seriously ha ha , what I mean to say is, do your own thing, bring forth your own ideas, use your brain, test, trade, back it up with statistic and forward testing, this way you will eventually create your own trading strategy that suite you, and it will be something you can trade with confidence, the most hardest thing is to trade some others strategy because you don't have the confidence to trade it, you don't know why it supposedly will work or how, and you have no data to back it up, this will bring you a certain amount of doubt, and then your emotions will kick in and mess things up. on the other hand, if you trade your own stuff, you got the confidence because you know why things will work and you have the data to back it up. my tip is to begin with studying the behaviour of price it self, it is the only indicator you will ever need, price is reflecting all the traders emotions collectively, keep it as simple as you can, the more things and rules you add, the harder it will be to trade, if I would show you my strategy you would not believe me, it's that simple, (not going to though) and then you have your own emotions to deal with, that is a completely different subject but it goes hand in hand with trading. so not only do you need to master trading, you must master your own psychology as well. cheers
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