How to become a trader in 8 steps?

Hello dear readers! The weekend promises to be hot, I'm not going to stop working on improving the blog for a minute, so I'll spend it in business. But this does not upset me at all, on the contrary, it makes me happy! Maybe I'm a maniac? :-) Today's post will not talk about trading styles, money management methods or Expert Advisors, today's post is unusual… Many people would like to know, how to become traders, what needs to be done for this, what stages and difficulties to go through (or maybe everything is easy and simple?), how long will it take? You will find answers to all these questions below, I will tell you how to become a successful trader in 8 steps from scratch, and how long it will take to achieve the goal.

I cannot know all the ways how to become, after all, how many people have become them, so many ways. The order of actions can be completely different, and sometimes shocking! I will try to show a general scheme that any interested person can use. But once again I will repeat - each case is individual.

How to become a trader from scratch?

1. Get started! If you don't act within the next 48 hours after having an idea, then chances are you never will. First you need to know the first information that will give an understanding of the basics. It is full on the Internet, check out this blog. To begin with, find out how exchanges function, who are traders, what brokerage companies do, any questions related to financial topics, all this will be useful to you in the future. If you know all this, great! Then it’s worth moving on to more detailed information, figure out how transactions take place on the exchange, who buys and who sells, what costs are involved in trading, through which programs to trade, etc.

There is another way - to take courses for beginners, I do not think that they are worth the money that is required for them. All the information you learn in the courses is available and free of charge on the Internet. You pay your money only for the fact that you will be told this information. If you have money, this is the easiest way to start learning and learn the basics.

The third way is forums. I don’t really like them, I think that they are only suitable for understanding the basics of stock trading, there is not much useful information there. You can chat with visitors there, ask questions of interest, etc.

2. After you start to understand the common terms (for example, swap, spread, EUR/USD, quotes, trading terminal, indicators, adviser, trading strategy, etc.), I recommend opening a demo account (virtual account , does not require real money, ideal for learning) to combine theory with practice. Any things in practice are understood faster and better remembered.

3. Now, after getting acquainted with the initial information, after installing the terminal and opening a virtual account, the most interesting will come!

You have become a novice trader, you need to learn how to earn money by trading! This is the most difficult part, if it takes a week or a month to overcome the first 2 steps, then it can take years to learn profitable trading, at the same time this is the most interesting part :-) ! 2-3 years is the average period for which you can learn how to earn, although there are cases and faster. Yes, this is a real profession, not easy money, so you need to "study, study and study again." Useful and necessary information can be found in narrowly thematic books on stock trading. There are many catalogs of such books, downloading problems will not arise. The best, in my opinion, creations described in the article: I advise.

4. Books are a good thing, but they just won't be enough. You need to build your trading strategy, the best way to do this is to see how others are doing. The study of work strategies is a very important step, there are many trading styles, different approaches: someone uses technical analysis (like me), someone uses fundamental, wave, arbitrage trading, etc. I will make a reservation that it is easier to make money with the help of technical analysis and a systematic approach, most of the successful traders trade in this way. But what is right for you - you will find out only when you try several approaches.

At the same time, you need to study materials on money management, building competent money management. I will say in advance that without practice, obtaining this knowledge does not make sense. Small conclusion: Step 4 is to learn different trading strategies and money management methods.

5. Without this step, the previous one does not make sense. Practice. You have a demo account, on it you need to try everything you learn. For example, read about it, looked at the reversal and continuation patterns, went to the terminal and try to trade based on this analysis. Look for these figures on the chart yourself, open deals, work on a virtual account for a week or more. We found a curious money management method on the Internet, applied it to your account, again traded a little, remembered it. And so every time you learn something new, you need to try everything in practice, since experience is the most important thing! Steps 4 and 5 can go on for quite some time, but when you can easily navigate through different methods of analysis and money management, then move on to the next step.

6. Yes, it is even more difficult than the previous one. It will be great if you find a profitable approach by this time, you are very lucky! But in most cases this is not the case. You have the necessary knowledge, little experience in trading on a demo account, it's time to create your own work strategy (or buy it, it's not cheap). You will have already decided on the approach to trading that you like, you will have some developments, patterns, and other little things. Based on your knowledge, you need to develop a profitable trading strategy. The task is not easy, but quite doable! It needs to be tested, tested on different instruments, and a method of money management needs to be chosen. The trading system is a clear and well-oiled algorithm of your actions, which consistently brings profit. This is what all traders strive for.

If you make it through this step, you're more than halfway there! Trade your system for several months on a demo account, in case of positive trading, proceed to the next step.

7. After checking on a virtual account, open a real one. You should not invest a lot of money, a minimum amount is enough to start (learn more :). Trade according to your method for several months, look at the results, do they match the test ones? If everything works out great, you trade profitably, withdraw money, then slowly increase the deposit. The main thing is not to take sudden steps. All you have to do is just follow your trading system. If it is verified, you trust it, then the profit will be yours!

If not, then look for it and fix it. To open a real account, I can recommend a company with which I myself work. Or use it so that you don’t bite your elbows later! By the way, I almost forgot, one more step.

8. This point is intertwined with every previous one, it has a value that cannot be overestimated. Most of the problems of traders are connected with it. This is. Each trader works with money, work with an increased level of stress, psychological pressure is great and is always felt. Emotions run high for some. But these emotions need to be controlled. If emotions guide your actions, do not expect anything good. To be honest, this is a very difficult step, but if you don’t overcome it, you can always dream of becoming a successful trader, having an excellent understanding of strategies, but not achieving results, that is, getting stuck at the very end of the path. I don't wish this on anyone.

If you follow this plan step by step, you will definitely become a trader! I draw your attention: this is an approximate plan.

In real life, the path of each trader develops individually: some start by studying strategies, someone buys an adviser and starts real trading, someone knows the whole theory, but does not dare to start, there is only one way to find out how your path will turn out ...

After reading this article, readers may have a question: is trading really not taught anywhere? If we talk about institutions, then no, such a profession is not taught, at least I do not know about it and have not met such traders. But there are many different courses, online schools, training companies. I can’t say anything about the quality of training, I didn’t pass it. But the fact that no school can give you guarantees is a fact. That is, whether you will be able to learn how to trade or not, depends only on you. But I will note that private training makes sense. If you find a successful trader in your city who will teach you how to trade, this will be the best option, but it is not easy to do! :-) In any case, do not waste time, start learning on your own, for example, from the material, which contains all the information for beginners!

I hope I was able to answer the questions posed, and after reading this article, you know how to become a trader.

News! For a successful start as a trader, you can download a free forex advisor! TC tested on the history of 5 years, all tests posted. A cool thing, some people can’t develop their own strategy for years, but here it’s already ready and even automated! Details.

This concludes, as always, I invite you to subscribe to blog updates by mail in the form below, so you will be the first to know about new materials. Or add yourself on social networks, where you can find announcements for articles. I wish you good luck in business! You had a private trader with you, bye!

P.S. Tell us in the comments how you became a trader, it will be interesting for readers!