Best Advice You Could Give A Beginner?
- Thread starter kteira
- Start date
99% of the time this sadly is true, but got to be in it to have a chance at being the 1%, then $20+ could be yours per year.
Learning to trade within a year? What does that even mean?
Anyways it would be very hard to become consistently profitable within a year. Even after 4 years, your odds are slim. Just a reality check.
The reward in trading successfully is very high. And it's for a good reason. Think about it.
Anyways it would be very hard to become consistently profitable within a year. Even after 4 years, your odds are slim. Just a reality check.
The reward in trading successfully is very high. And it's for a good reason. Think about it.
imo..the best advise is not to start trading at all. But if you really want it, be ready for months of disorders and failures. Open tiny live account and trade few months . Ask questions to youself and find answers studing real price movements on charts. Develop your own strategy and teach youself not to brake your own rules. After that you will be better trader than the most of us .
Yeah. It will probably take him 10x longer than he thinks. Most beginners think 6month or less. In reality it is more like 60months minimum. And even if you last 60months no guarantee you will a hugely profitable after that time. Its not just about hours/years of experience. If you not cut out for trading you will never make it regardless of how many hours you put in.
And there is beginners luck in this business, you can get lucky in the first 6 months or even first 5 years and think trading is not that hard. This might be the worst thing that can happen to a beginning trader.
What is Price TA ? is it same as TA ?
It's TA , but only with price action and only.
No Ishimuku Clouds. No Illuminati indicators.
Only the price...
(using volume for thou own taste)
lol, when the first time i saw, in the add, of local trading bis, i wrote to them :
(,,smartass mode on")
,,Where is MACD ?
No RSI ?
Bollinger Bands ?
(also bunch of indicators that i don't even remember by now)
Only price action ?
You guys are scam or what... ?
"
No wonder, no reply.
But i went further on into my complete noob mind level 2, back then :
,,Aha , gotcha, you stinky scammers !"
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Price action, or just "action" is a way of analyzing charts visually without indicators. It's like a language in itself. I'll give a few examples.
"longs putting pressure on short spec..."
"forced short covering getting sold off"
"forcing longs out of the market"
"accumulation"
"sizing in/scaling out"
"ranging at the new level"
"setting up a range"
It's really just advanced trader talk that doesn't use indicators to make decisions.
It's also called, "reading the market" or "getting a read" and it can be used to do a lot of stuff like predict breakdowns, relief rallies, ranges, and even volatility.
Basically, advanced traders don't need indicators to read the market. They may still use them but they don't always use them.
"longs putting pressure on short spec..."
"forced short covering getting sold off"
"forcing longs out of the market"
"accumulation"
"sizing in/scaling out"
"ranging at the new level"
"setting up a range"
It's really just advanced trader talk that doesn't use indicators to make decisions.
It's also called, "reading the market" or "getting a read" and it can be used to do a lot of stuff like predict breakdowns, relief rallies, ranges, and even volatility.
Basically, advanced traders don't need indicators to read the market. They may still use them but they don't always use them.
the best book is
one up on wall street Peter Lynch
Peter Lynch (born January 19, 1944)[1] is an American investor, mutual fund manager, and philanthropist. As the manager of the Magellan Fund[2] at Fidelity Investments between 1977 and 1990, Lynch averaged a 29.2% annual return,[3] consistently more than doubling the S&P 500 stock market index and making it the best-performing mutual fund in the world.[4][5]
https://en.wikipedia.org/wiki/Peter_Lynch