Money is still a hot topic while it makes the world go around. You can approach finances in many ways. You can earn them, save them for later use, spend them, or even evaluate them. The choice is up to you. Investing or trading could fulfill the purpose if making a profit is your priority. But how to succeed in these activities? How can you increase the chances of earning more money without losing anything? At first, trading seems like a lottery in which the lucky ones win a fortune. Please, note that many successful players in the game are aware of the rules and various trading strategies. Before entering the market, you should be literate enough to take risks and know the trading. That’s why we have launched The Getting Started Guide – the document with an elementary knowledge of the trade. It should prevent losing money and keep you safe from uncontrolled spending on assets you do not understand.
What is the Getting Started Guide about?
It is a beginner’s guide that will take you on a walk into the world of trading, but it is not a rule of thumb to be a newbie. Everyone can enrich his knowledge basement.
Getting Started Guide consists of 3 parts:
1. About Price,
2. Trading Basics,
3. How to Create Strategy.
In each part, there are multiple subtopics that discuss the subject in more detail.
For example, in the section “About Price”, you can learn economic principles, factors impacting price, why price moves up or down, how brokers and For example, in the section “About Price”, you can learn economic principles, factors impacting price, why price moves up or down, how brokers and exchanges work, how the candlestick chart looks, what PIP and LOT are, and how to calculate spread, types of orders, fees and spread.
The second part covers such things as:
- technical analysis and indicators,
- market types, why indicators work,
- leading vs. lagging indicators,
- signals and interpretations,
- how to spot a trend and its strength,
- how to identify price levels and their strength,
- price action and movement including patterns,
- what is Fibonacci retracement and extension,
- how to find momentum,
- what is stop hunt,
- fakeout and traps,
- and you will learn about trading psychology.
And last but not least, the third section – How to Create Strategy. This one provides you with examples and tips on how to create a trading strategy (or/and plan), when to enter, exit, and take profits, set stop loss, and what Risk-Reward-Ratio is.
It should take you about 90 minutes to read the whole document. The first part takes approximately 15 minutes, the second 60 minutes, and the third, the last one, 15 minutes. Please keep in mind that the indicated time is just an estimate, and it will take an individual amount of time for everyone.
So, if you want to learn what order types there are or how they work, we recommend you pay attention to the chapter Brokers and Exchanges in the first part. This chapter will cover the essentials of a market order or a limit order, like buy limit, buy stop, sell limit, sell stop, stop-loss order, take profit and etc.
Getting started guide will provide you with an overview of how the fees work, which assets to buy and where they can be found, or when it is appropriate to enter/exit the market. To spice it up, you will get some more information about Fibonacci retracement (a method of technical analysis for determining support and resistance levels) and services that can help traders to track the activities of high-net-worth individuals (aka “Humpback whales”). It is only a little sneak peek of what we have prepared for you.
What else can you find there?
- Basic terminology linked to trading (such as bear market, bull market, etc.),
- commonly used trading strategies and pro tips for creating them,
- explanations of economic principles,
- graphs and tables for better visualization,
- practical examples for better understanding,
- tips that enable you to make a higher profit,
- links to various platforms and services (e. g. brokers, exchanges).
How to proceed?
We recommend reading the document in order because you can be sure that you will not miss anything important. However, reading different chapters in any order is also okay, as they do not necessarily follow each other. So, it is up to you to read the document chronologically or skip some parts, and you can also return to them at any time.
What are the benefits of the Getting Started Guide?
- Unique material such as relations in trading, statistics, and wide or narrow RRR value.
- Interpretations of indicators.
- Framework for creating strategy.
- No previous knowledge is required.
- Clear and understandable structure. Short and easy-to-understand chapters.
- Accessibility for everyone – not only beginners but also intermediate traders can expand their knowledge.
- Educational materials were written by experts from the field.
- It is free.
- No registration is needed. You can proceed with materials anywhere and anytime with an Internet connection.
- It is a starting point for your future success.
Thanks to initiatives like this, more and more people would be able to evaluate their money in diverse assets. If you get through all the topics mentioned above, it will be easier to orient yourself among the trading tools, platforms, and their settings. Furthermore, you will be able to read statistics and analytical tools or even make predictions for future market evolution.
Getting Started Guide can help you better understand how to use Tradiny – a market analysis tool for investors and traders powered by AI to maximize profits. Under our guidance, you will proficiently use our app with all available functionalities.
And why is it important for us to provide you with more details on trading? Our CEO has a simple explanation: “I love it when new traders share their euphory from making profits with our platform, but I am always saying that we rather aim for long-term profitability than specific wins. That’s the real success. And you can learn HOW in our guide to trading.”