The Beginner’s Guide to Trading & Technical Analysis

For newcomers who want to learn how to trade, the large amount of information out there can be overwhelming to digest, which is why I have summarized it all in this compact guide.

In this beginner’s guide, you will learn:

  • The key concepts and principles about trading and technical analysis
  • How to create a trading plan & strategies with a clear roadmap to profitability
  • How to start with paper trading and use a trading journal to track your progress
Trading & Technical Analysis
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Trading & Technical Analysis 1

Can I Make Money from Trading?

First, you will need to know what trading is all about, how to trade for beginners, and whether you should start with trading or investing.

You will also need to think about how much trading capital you plan to start with, especially if you are new to this.

Trading & Technical Analysis 2

New to trading? Start here

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Trading & Technical Analysis 3

Basics of Technical Analysis (TA)

Have you wondered, what actually moves prices in the financial markets? And how can we effectively study these factors to better predict and time our trades?

Besides technical analysis (TA), what other methods of analysis can we use?

Trading & Technical Analysis 4

Technical Analysis (TA) Tools & Techniques

Technical analysis is a very useful tool to read and analyse charts, which allows us to understand and time the market.

Over the years, there have been many different creative techniques and strategies for using it.

Trading & Technical Analysis 5

Choosing Your Trading Style & Strategy

If you do a search online or look through some books, you will find that there are tons of different approaches to trading, but in reality all these can be classified into a few simple categories.

To start off, you will need to know the different styles of trading (including holding period, timeframe, products), as well as the 4 main types of trading strategies.

Trading & Technical Analysis 6

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Trading & Technical Analysis 7

Practical Trading Tips

Before you even make your first trade, you need to craft a trading plan that will detail your exact approach, so that you can focus on the execution of your trades once your trading begins.

And after making your trades, you will need to know how to record your trades in your trading journal, to help evaluate your trades and improve your performance.

Trading & Technical Analysis 8

Trading Mistakes to Avoid

For new (and even some seasoned) traders, there are many pitfalls in trading which can trap the unsuspecting trader.

Some will cause you to make bad decisions and lose money, while others will hinder your progress, thus is is important to learn how to avoid them.

Conclusion

I hope you have enjoyed this guide on how to get started in trading.

Now I’ll like to hear from you: what is your key take-away from this trading guide?

What products/markets are you planning to trade?

What tools, techniques, and strategies are you planning to focus on?

What are some challenges faced when writing your trading plan?

Let me know by leaving a quick comment below right now.

Trading & Technical Analysis 9
If you like this guide, click here to check out our whole series of free trading guides!
4 replies
  2. Kar
    Kar says:

    Hi Spencer! Thank you for the in-depth introduction to FOREX. This helped me understand the direction I would like to take as a new trader. I agree with the Trading Journal because by using this I am able to track my progress weekly and ideally avoid committing the same mistakes I made.

    Reply
    • Spencer Li
      Spencer Li says:

      You’re welcome! Great to hear that you are off to good start. Yes, keeping a trading journal is important to track your progress, because it provides something for you to look back on and study your past decisions.

      Reply

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