Beginner TRADER1

B

Bramahtrading

Hi guys,

I am new to this world, has been reading quite a lot of day trading material, and wondering what the best platform is to learn on that has hot keys, I am interested in any advice people have to offer as well. Most appreciated!

regards S
 
Hey Bramah,

Bramahtrading said:
that has hot keys
More...
lol. Sorry. Just funny. One movie too many or a wrong influencer.



You don't need that for now, unless you want to loose your saving 5x faster.

Read these books :

The more books you read - the better.

Download sims/demos like ThinkOrSwim and practice for 6 - 12 months. At least.
(don't listen to the noobs ,who tells you that demos doesn't help ;
half of the time they're selling something to you, and don't want you to play with fake dollars and half of the time, they have lost - their own real money,because there was no practice with sims)


Don't touch naked options & don't sell them.
Don't touch CFD's.
Don't use leverage and don't open margin account.
Don't go short.

I suggest you to learn in this order, instead of going right away to trading :

#1. How to properly invest. (Gonna make profits in long term)
#2. How to swing trade. (It's a good place to stay/stop, rich life ,,guaranteed'')
#3. How to trade-intraday. (Welcome to the Arena)


If you do all of this, you will have much higher chances, of not blowing right away. At least not right away.
Success will come later.
Make stupid mistakes, but with fake money, fail and come back here with questions to learn.
 
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When you get to the point in your journey that you realize you can be successful with delayed quotes...
 
TOS demo is a solid recommendation for starting out. Experiment risk free to your heart content with on demand or paper trading mode.

You can also stream CNBC free on trading days.
 
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Learn the basics first
Learn one trading strategy at a time
Avoid feeling overwhelmed
Don't panic when the market moves against your trade
Be realistic and not emotional
 
Start with learning the key parts and basics first and then gradually when you are done with the learning part, you can try your strategies with a demo account as well.
 
I have tried to download think or swim, although I am based in England and they do not allow certain countries, anyone know of how to get round this or any other recommended platforms for the British?
 
Bramahtrading said:
Hi guys,

I am interested in any advice people have to offer as well. Most appreciated!

regards S
More...
Hello Bramahtrading,

Welcome aboard.

Here is my input for what it is worth.

In this day trader business I can offer the following to you from a unproftiable trader, myself. I make $0.00 from day trader and so far down a total of -$8K over the course of 5 years on this trading journey. I work full time as well and still learning and getting better. I am still in the game because I keep my captial in the bank until I prove I can trade profitable. PERIOD.

Be Prepared to NOT make money for 0-5 years. Shorter for most, longer for some.

The name of the game is to stay in the game long enough until you get better. Do this by not blowing your money without proper skills and mindset.

My Suggestions of Steps

1. Get Educated. Find a mentor, invest in one-on-one training, learn how to find the right trading education with quality. Again, learn how to find quality trading education.

2. Develop a trading plan

3. Developing a trading strategy (s)

4. Test the trading plan and trading strategy for edge

5. Trade Sim Paper money and triple or even quaddriple your account.

6. Trade Live Real Money and start small.

7. Repeat step 1 through out your career.



Why a trader loses money in trading:

1) No plan
2) No stop loss
3) No backtested strategy
4) No education
5) No patience
6) No time
7) No discipline
8) No willingness to learn
9) No mindset work
10) No mentor

Enjoy the ride and ask many questions on this forums.
 
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