New Westminster, BCCanada V3M 3K4
October 26, 2013
From books and by actually watching charts, observing price actions and repeating trial and error. It takes many hours but there is no short cut nor holy grail.
Yes, on demo currently:) Used to trade live. Switching back to live account in 2014 or when I'm confident/ready. I guess we have to start somewhere with small amount.
Yes, it is necessary to know market principles (like support and resistance, why price moves there and etc.) and money management (even a good trader goes bankrupt when they ignore managing position size). Tools... yes or no. I'm ok with basic MT4. I only use lines, MA's and occasionally Fibonacci. I used to display BB, but price action can be explained without it so I ditched it. Simple is best, keep it simple.
Currently looking for a reason or motivation to resume trading. Would love to feel the good vibes from other traders and get inspired by them.