Learning to trade is now incredibly easy online.
However, you need to understand the most important fundamentals.
Begin learning and practicing them thoroughly before actually starting.
And before entering the world of trading in any market, no matter what it is.
In the following steps, we will discuss the most important points.
Through these steps, you can learn everything about the world of trading, from beginner to professional.
First, studying classical technical analysis.
Classical technical analysis is the first step to understanding and mastering technical trading.
It is the foundation upon which you will build everything that comes next.
You need to learn everything related to classical analysis, including support and resistance levels,
Japanese candlesticks, reversal patterns, continuation patterns, trends, technical indicators,
and other things. All of this will teach you the fundamentals of technical analysis and will
give you a crucial and powerful step towards becoming a professional technical analyst.
Secondly, choosing your preferred technical analysis school
After completing your study of classical technical analysis and learning everything about it,
you should choose another technical analysis school alongside it. There are many such schools.
These include schools like supply and demand, harmonic patterns, volume, Wyckoff,
Elliott Wave Theory, SMC, ICT, and many others.
It is very important to choose a technical analysis school that suits you and to begin studying it seriously.
Take advanced professional courses and practice for several months.
This will allow you to experience most of the market's phases and identify your strengths and weaknesses.
Thirdly, establishing your trading foundations
In this step, you must define your market objective.
Is your goal scalping or swing trading?
Based on this, you should determine the appropriate timeframes for you and set the number of pips
targeted for each trade, the number of stop-loss points, and so on.
Fourth: Capital Management
After mastering technical analysis and practicing for several months,
you must develop a capital management plan.
Capital management is just as important as technical analysis,
and even more so. It enables you to remain in the market during strong and unpredictable movements, and even during losses.
You can overcome all of this and more by
managing your capital effectively and capitalizing on opportunities.
Fifth: Identifying Your Trading Market
There are many financial markets. You must decide whether you will trade in the Forex market,
the stock market, the crypto market, or metals markets such as gold and silver.
Then, you should start learning about all the news related to these markets that affects their movements,
so you are well-informed about everything in the market.
This will help you understand what news will affect your trading and allow you to seize the right opportunities.
Sixth: Choosing a Trading Broker
After all the above, we come to the final point: choosing a trading broker.
Here, you must choose a reliable and trustworthy broker.
This can be done through several important steps, such as:
- Checking the strength of the company's licenses
- Researching and assessing customer satisfaction
- Evaluating the company's reach in the Arab world and globally
- Assessing whether the company provides good technical support
- Checking if the company offers a wide variety of account types
- Checking the company's spreads (high or low)
All these factors can help determine the company's strength, and based on this,
we can begin filtering the companies and choosing the best one.
To find the best companies, please visit the following link:
Broker
Seventh: Continue Learning
You must understand that you need to continue learning and developing yourself,
whether through technical analysis
or fundamental analysis, and keep up with all the latest market developments
and refine your trading methods
in line with the changing market conditions.
You must be patient and control your emotions, as these are among the most important factors .
