I am a new trader, I want to start trading
- Thread starter efyou
- Start date
Risk Management should be your first priority. Trading is a never ending war. Every trade is a battle. Be prepared to lose several battles but don't become so wounded that you lose the war.
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Mr e-you;
That maybe the cheaper easier route;
it was for turtles of Rich ''turtle''Dennis .
But it is not easy or cheap or quick for most . Thats why Mr Eckhardt, partner of Rich Dennis, figured trading could not really be taught.Thats the way i figured/read it.I was not in either turtle class, turtle is a childhood nickname.
Speaking of reading , click'' books'' top of this page. Also, top trader/bookwriter Victor Sperandeo had an amazing percentage of traders he mentored , fail.See Methods of a Wall Street Master, by Victor
Frankly Victor,[at least thru his books...], is exceedingly helpful;
so no wonder IBD founder compared trading/ investing to going to medical school
. Then medical interns make low wages, even the best interns ...look this Platforms,http://www.etoro.com/A28045_TClick.aspx
A few advises from me:
- Learn to accept that markets (and shares as well) move at random.*
- The only way to make money in such an environment is to limit your losses and let your profits run.
- Don't buy anything from a vendor that claims to be able to teach you how to trade.
- Trading is 10% knowledge and that bit you will learn by experience.
- Trading is 90% mental and you will learn that by practicing on a SIM account and maybe do some reading about it.
- Read the attachment.
*Over a longer period of time, say >10 years stock markets tend to go up. Why? Because, companies tend to strive for an increase in profits and therefor increase in stockprice. But if you want to make money as an e.g. day trader or swing trader you have to accept that markets move at random. Don't think you can outsmart the markets... You can't.
Shaka
,
Frits
- Learn to accept that markets (and shares as well) move at random.*
- The only way to make money in such an environment is to limit your losses and let your profits run.
- Don't buy anything from a vendor that claims to be able to teach you how to trade.
- Trading is 10% knowledge and that bit you will learn by experience.
- Trading is 90% mental and you will learn that by practicing on a SIM account and maybe do some reading about it.
- Read the attachment.
*Over a longer period of time, say >10 years stock markets tend to go up. Why? Because, companies tend to strive for an increase in profits and therefor increase in stockprice. But if you want to make money as an e.g. day trader or swing trader you have to accept that markets move at random. Don't think you can outsmart the markets... You can't.
Shaka
,Frits
Get out while you still can so you don't have to 'get your money back'
Here it is how to do.
1. Buy a computer & get fast internet.
2. buy a calculator and paper (about 1 rainforest)
3. buy enough food + water for minimum of 5 years
4. Go in your room, close the door & dont open before the 5 years.
Cancel your social life & give a shit about all these haters who say "you want to trade, you want be a millionaire, hahahah idiot".
5. And then, put on your pc open your charting software.
There you see it, Prices thats the market.
NOW start and study that thing, study everything, you must go crazy about it. Try to develope strategie and always try to get better.
Never stop. Dont trade real money, before you really think you will be successfull, otherwise you loooooooooooosssssseeeeeeee.
6. If got it after the 5 years, open the door and go outside, and you can call your self a trader.
!!! WARNING !!!! If you dont get it after 5 years, you will ever be looser, have to kill yourself immediately.
Good journey
?