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FX.co ★ Trader's Diary: EURUSD on 12/26/2019, Where to begin?

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Forex Analysis:::2019-12-26T08:39:43

Trader's Diary: EURUSD on 12/26/2019, Where to begin?

 Trader's Diary: EURUSD on 12/26/2019, Where to begin?

There is a lull in the market as most Westerners have Christmas holidays which will last until January 2.

Therefore, if your Trading System does not require this from you, it makes sense not to assume the high risks of trading in a thin market.

EURUSD: There is an update by levels where a new level of daily order is formed down.

Right now we sell when breaking down at 1.1065.

Purchases from 1.1200 and more aggressively from 1.1100.

Where to start learning trading?

In my opinion, the study of trading in financial markets should have the following parts/sections:

1. The idea of the "foundation", mainly the economy and investment, respectively.

I recommend the textbook "Economics" by Dornbusch, Fischer, and Schmalenzi.

Fundamentals of Investing, an investment textbook by Gitman and Joehnk (many advise Sharpe's book Investing — I don't like it, but I got used to it — Sharpe is overloaded with math)

2. Technical analysis: There is a lot of literature, I would single out Thomas DeMark's "Technical analysis: A new science".

3. System Engineering: Way of the Turtle by Curtis Face. This is about how to build a vehicle correctly.

And also "How to make money in the stocks" by William O'Neill

4. Money management: I will not recommend any particular book - but this part is required as a separate one.

Analyst InstaForex
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