I am creating this thread to help the people who have no idea about what trading is and who just saw some advertisement of become millionaire overnight and jumped into binary trading without any knowledge of financial world.This thread will provide step by step guide for those who have no experience in trading to anyone else who likes to learn more and more.
One can skip the steps he/she thinks have competed already and maybe learn what he/she doesnt know.
To Traders : Lets help these newbies to avoid the the mistakes we have made by giving them valuable and detailed advise.When suggesting something please keep in mind that if you mention something then try to provide links or pictures for the content.If you use words like Price Action,Techinical analysis,Fundamental Analysis,Higher Highs lower lows etc etc then do explain what those words mean.Provide links where a newbie can find description and information about that content/words.Do not write a post which leads to question but finish it fully.Please do not post an Indicator here.Do not write I agree with above post or do not write just to thank someone's post but instead like the post.
So since I am starting this thread I will write the steps which I think are important to follow for a complete newbie who have no idea about what trading is who dosnt even know what a PIP or tick is.
1. Take one of these crash courses for the understanding of how Forex market works and what a currency chart is made of and what are some standard indicators being used in forex market.Both courses are free and fun to learn.
a ). Forexpeacearmy.com course which I personally read through when I started trading. http://www.forexpeac...ion-pro-banker/
b ). Babypips.com school http://www.babypips.com/school
Both courses are equally good and fun to go through so you can just take anyone of those and should be fine.After this you are somewhat ready to jump in the demo world and if you want you can find a strategy at BOE or anywhere and try testing it.
2. Once you are done with the course then comes where to learn more about Fundamental and Technical Analysis(If you did complete the course you will know what I am talking about and if you didnt complete the course then you wont have an idea about what I am talking about so go to the course and complete it) and the indicators or infomration used in it.
a). Fundamental Analysis
http://www.forexpeac...a/Santo_Domingo I personally like this one better as it have options of historcial movements of currency pairs on any certain news events.
Definition http://2ndskiesforex...ding-explained/(just to know what price action is do not buy anything from that website).