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My name's Kelven I'm 21 years old and I'm a brazilian begginer investor. I have invested in future mini-contracts here in Brazil for about 3 weeks. After a loss two weeks ago, I stopped investing because I understood that I didn't know what I was doing. I was making money by chance and not because I really knew what I was doing. I really want to learn about technical analysis and how the market works. But I don't know where to look for a good source of information that will really make me consistent and profitable. I'd love to learn about the candle patterns that always appear and also how to manage my trade. I need you to guide me on where I can read and learn about. I thank you in advance.
It’s good to know technical analysis, but you should not be making trades based on just technical analysis. Will have far better success doing fundamental research and then using technical analysis to back up what you’ve already learned.
Technical analysis won’t help you with the next trunk Tweet, or the next coronavirus, no it’s going on in the world first and then use technical analysis to confirm.
Hello. Sorry for your loss, but it really seems you misunderstood some market concepts. You do not invest in derivatives. You speculate, or as everybody says, you trade. A futures contract don't have intrinsic value, because like an option, is a promessofdeliver something in a standard date.
But this loss ins't necessarily a bad thing. Let me explain. Trading is like any other skilled profession. And so it requires a lot of time, effort and investment to became profitable. I like to think it is very close to become a neurosurgeon: Here in Brazil, we take about 6 years to graduate, then 2 more residence, then 2 more in surgery specialization, plus atleast more two specialization until become a full neurosurgeon. And as this highly skilled profession, demands a lot of ivestment. But different of neurocirurgy there is no college. You must learn for yourself.
So, this loss you took can be consider part of you learning. And you only needed 3 weeks to realize you need education. This is a very good start. I suggest you begin with books. You can find good ones online. About risk management, start with the basics first. Learn about market dynamics. Especialize yourself in one market.
Eae cara, legal ver brasileiros aqui!!! Então te recomendo começar estudando pelos classicos da literatura de price action e chart patterns. Se quiser temos uma comunidade aqui no Br tbm. Procura no Youtube sobre SST trade. Abraços
Hey @kelvenluiz, first off, welcome to FIO. You have come to the best place on the internet to learn about trading futures.
I admire your ability to recognize that you need to change your approach so early in the process, and at your age; no disrespect intended, I only wish I would have started learning how to trade much earlier in my life haha...
If you want to learn more about technical analysis, Adam Grimes at https://www.marketlifetrading.com/ offers a free, comprehensive course that provides a solid foundation upon which to build. I am not affiliated with him or the website in any way, but I did go through the course and found that it filled in a few gaps that I had in my learning. He also has done a number of webinars here at FIO that are worth watching.
I would offer that, while learning, you should really look at trading micro contracts if they are available to you, to both minimize your tuition and protect your hard earned money. It is a long and arduous journey, there are many pitfalls, the learning process will never cease and you will find many dead end roads... but you seem like a sharp young guy. You'll have to do everything in your power to stay in the game long enough to learn what to do and, maybe more importantly, what not to do.
All the best, young man! Start a journal here and let us know how it goes.
