| Phoenixtrader (OP) Member Activity: 183 |
Hi good day, I'm a newbie here and I've been dieing to ask a community this question. Though I've done my research,but I think having real advise helps. ICT or SMC concepts, which is more easier to learn as a newbie trader.. | |||
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| SamReomo Hero Member Activity: 924
Top Crypto Casino |
I will always recommend you to learn technical analysis first as a beginner trader and don't think about anything else. Try to master some basic technical indicators in the beginning. Once you learn those technical indicators then begin testing your learning with actual trades, but try to open very small trades only for the learning purpose. Once you understand and master a few basic technical indicators, then try to learn about risk management. For a newbie trader risk management is one of the most important tools. Learn about stop-loss as that's a very important thing to master for a beginner trader because without using stop-loss you might end up emptying your account. Once you learned all those then try to learn ICT as it's much easier to be learned by a beginner trader than SMC, but if you have a sharp memory and you devote good time to those then you can learn both of them. I suggest you to watch some YouTube videos to learn about ICT and begin following those videos. Learn from those videos and practice whatever you learn. | |||||||||||||||||
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| Phoenixtrader (OP) Member Activity: 183 |
Quote from: SamReomo on February 28, 2024, 09:00:20 PM I will always recommend you to learn technical analysis first as a beginner trader and don't think about anything else. Try to master some basic technical indicators in the beginning. Once you learn those technical indicators then begin testing your learning with actual trades, but try to open very small trades only for the learning purpose. Once you understand and master a few basic technical indicators, then try to learn about risk management. For a newbie trader risk management is one of the most important tools. Learn about stop-loss as that's a very important thing to master for a beginner trader because without using stop-loss you might end up emptying your account. Once you learned all those then try to learn ICT as it's much easier to be learned by a beginner trader than SMC, but if you have a sharp memory and you devote good time to those then you can learn both of them. I suggest you to watch some YouTube videos to learn about ICT and begin following those videos. Learn from those videos and practice whatever you learn. Thanks mate. I'm using YT to learn. So you mean ICT is much easier? Why did you say so | |||
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| Husires Legendary Activity: 1596
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SMC or Smart money concepts give you a broader understanding of the market by tracking order blocks and thus you will get more accurate results from support and resistance levels, which is better if you decide to trade short-term. I believe that mastering such concepts may require about 4 months before mastering them, while the ICT methodology measures a broader range of Liquidity, Market Structure Shift, and Balanced Price Range may require more time to master, but they give you a deeper understanding of the market and through them you can have a better plan for all price movements. because the market is now in an upward trend, so as not to miss the opportunity, buy Bitcoin at the first decline, and then start learning the basics of SMC while buying Bitcoin every week or month. After mastering it, you can learn ICT so that you can know when to sell, because determining the selling point is more difficult than the buying point. Because the price exists in levels of uncertainty that make it difficult to determine it using the SMC. The free ICT training courses seem advanced and difficult for beginners. | |||
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| Julien_Olynpic Legendary Activity: 2562
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The concept of Smart Money is very popular now. I read a study somewhere that stated that in some markets, every second or third trader used this concept. In fact, the concept is quite simple and is based on the phenomenon of trade imbalances (and balances). The concept of imbalance has something in common with such a thing as a gap. In essence, an imbalance is a kind of gap; more precisely, it is a poorly traded area on the chart. Usually the price goes back there. There is also the concept of a trade structure and its breakdown. If the structure of the upward movement, for example, breaks down, then the trader should refuse to purchase the asset. | ||||||||||||||||||||||
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| Bravut Member Activity: 210 |
Dont confuse yourself with what strategy to learn or which one is simple. | |||
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