BeginnerEarly Stages For Beginners8 Topics
Forex Terminology11 Topics
- Major and Minor Currency Pairs
- Basic Forex Terminology
- Pips & Ticks
- The Broker & The Spread
- What is a Lot?
- Stop Loss & Take Profit
- Margin & Leverage
- Retracement & Reversal
- When Can I Trade Forex? Sessions - Market Open and Close
- 3 Types of Analysis (Technical, Fundamental, Sentiment)
- 3 Ways a Market Can Go (Up, Down, Sideways)
Margin & Leverage2 Topics
IntermediateIdentifying Scams2 Topics
Brokers for Beginners5 Topics
Technical Analysis13 Topics
- Types of Charts
- Understanding Japanese Candlesticks
- Candlestick Patterns For Beginners
- Single, Double & Triple Candlestick Patterns
- Support and Resistance
- Confluences w/ Candlesticks & Support & Resistance
- Counter Trend Trading/ Counter Trend Lines
- Moving Average
- Top-Down Analysis
- Consolidation Trading (Breakout, Retest, Continuation)
AdvancedUsing Indicators6 Topics
Technical Analysis (Part 2)8 Topics
Market Structure5 Topics
Fundamental Analysis9 Topics
CompletionRisk Management for Beginners8 Topics
Psychology for Beginners7 Topics
Personal Psychology Questions2 Topics
The Honeymoon Phase is exactly what it sounds like. After a wedding, the couple goes on an amazing vacation and once they get home they’re still on cloud nine. Eventually, reality sets in, and even though you truly love your spouse, the flaws and arguments come in. It’s the same with trading.
When most traders start their journey, they think this is some “get rich quick scheme.” They see the experienced trader’s profits and all of the glitz and glamour and assume that it all came quick and easy. So now they think they can replicate it. Now, there is such a thing as “beginner’s luck” that hurts many beginners by giving them false hope. Some beginners will win their first few trades and think this trading thing is easy! They believe that this is something that isn’t so hard and now has a goal of quitting their job in the two next weeks. Slow down there buddy!! Within a few more weeks, they realize that this is not a game and it’s difficult. The honeymoon phase ends and now you have to ask yourself: do I really love this?
Usually, after that beginner’s luck wears off, they get hit with losses they haven’t mentally prepared for. They allow fear and doubt to set in, and most people quit. Some don’t get divorced from trading and decide to stick it out.
Whatever you decide to do, just know the honeymoon phase is real! So don’t be surprised when it wears off, and your real trading journey begins.