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Where to get market info, beginners strategy

Hi,

I've opened an account by iq option. The beauty is minimum positions of just one euro and a demo account.

When I got interested in binary options I had to go to a huge pile of false promises, saying you can earn easily up to thousands of euro's etc. I am to skeptical to believe that. I believe that earning money takes time, effort and dedication.

I still have to learn a lot about technical analysis and markets and also my weak points in trading attitude.

Using the demo account I came to the sobering conclusion I lose more then I win. That's alright, it's called learning.

Today I learned a valuable lesson, the importance of knowing what is going on in the market and trade accordingly. I lost initially 100 euro monopoly money and gained 300 euro monopoly money, just by actually searching for news , in this case the GBP/USD.

I still continue with my demo account, but I want to focus on forex. Basically EURO/USD GBP/USD USD/CADA. I think by first focusing on these three currency pairs would benefit me as a beginner. Second, I must learn to follow news events, interest rates, and other important news. Do you think, as experienced traders I should go for this strategy to learn and become more succesfull?

I still need a lot to learn about technical analysis, economic indicators etc., need to read many books, by focusing on just three currency pairs I think it will be easier to become more successful as a beginner. Later on I can expand my activities.

Also if you have links with forecasts, events, current interest rates, I am constantly looking, but allways open for ideas from experienced people. If you have any links, please post them.

I see books, magazines, also as an investment, cause in the end you spend money on it. Is for instance a (on a tablet) magazine like the Financial Times a good idea or a waste of money?

Comments

  • The_Geek_MHThe_Geek_MH Posts: 718 mod
    The best is to find a good economic calendar, they are available all across the web just Google economic calendar. Then watch the central bank policies, and the data, that affect the pairs you are trading. I'd stick with eur, usd and jpy, maybe the GBP, to start with . Remember, the technical picture is a representation of what the market thinks about the news/data/central banks etc... so be sure to view the charts with that in mind.
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