My cousin is eager to start trading but needs direction.
I’m searching for beginner-friendly PDF guides that address the fundamentals.
Guides that include risk management tips and basic chart analysis would be ideal.
Risk management comes first - your cousin needs to get this down before looking at any charts.
Most guides skip this crucial part anyway.
Check out Babypips School of Pipsology. It’s free and covers all the basics really well.
PDFs are trash. Demo account then live with $100.
Most PDF guides are useless theory that won’t help when you’re bleeding money. Your cousin needs to nail lot sizing and stop losses first - everything else is secondary. Never risk more than 1% per trade. That’s non-negotiable. FXCM’s trading station tutorials are solid free resources. They actually show you real entry/exit setups instead of just talking about them. Stick to major pairs only at first. EUR/USD has tight spreads and behaves predictably for newbies. Demo accounts teach you the buttons but they can’t teach you how to handle losing your own cash. After a month on demo, have your cousin switch to micro lots with real money.
Most beginner PDFs are all theory, zero practical stuff.
Tell your cousin to learn position sizing first. That’s what keeps accounts from blowing up.
Skip the paid guides - hit up broker education sections instead. XM and Plus500 have solid content that covers actual trading scenarios.
Paper trading’s good for learning the platform, but real money completely changes how you think and react.
Skip the PDFs - most are outdated or way too theoretical.
Tell your cousin to open a demo account with OANDA or IG. Nothing beats actual chart time for learning the basics.
DailyFX has solid free content. Real market examples and they explain risk management without all the fluff.
Most important - start small when going live. I blew my first account thinking I knew everything after reading guides. Real trading’s completely different.