Yup you are new. But don't feel bad many don't understand that you can, what do you know, sell high and buy low too.
I am new in trading
- Thread starter azeeem65
- Start date
What do you need help with, exactly? Who is your broker? What are you trading? What is your account size? What are you hoping to achieve in your trading? Are you day trading, or swing trading? How many winning trades, how many losing trades so far, and what is your average profit/loss? What do you know already?
Let me guess. You are not new in trading. You want to start trading but you havent started yet, right? So what do you WANT to trade? Why do you want to trade? Do you realize that most new day traders FAIL? A lot of swing traders too, I am guessing. What country are you in? How much money are you able to trade with?
The question you ask is sort of incomplete. Nobody really knows how to answer without specifics. Back to my assumptions, though, look on Amazon for a couple of well rated books on whatever type of trading you want to do. There are futures, options, stocks, ETFs and ETNs, FOREX, commodities, all sorts of things to trade and very few traders trade everything, usually just one or maybe two things. So decide WHAT you want to trade and HOW you want to trade, and get a book or two that tell you how to get started. Then study. Open an account and practice trading with a paper account. Take those steps and come back and join the discussion. When you know what questions you want to ask and what you need help with, you will find help here.
It has been more than 10 years since I started trading stocks(long only). Still have my capital. Many have recommended Reminiscences of A Stock Operator by Edwin Lefevre. Here is a copy.
https://archive.org/details/JesseLivermoreReminiscencesOfAStockOperator/mode/2up
I find this book difficult to understand for beginner. Once you a gain experience and read back, it makes sense. Here is another one.
https://archive.org/details/abcofstockspecul00nelsiala
Linda Raschke talked about this book in this video.
Here is another one - Winning Method of Market Wizard by Jack Schwager
The most important of all is patient.
https://archive.org/details/JesseLivermoreReminiscencesOfAStockOperator/mode/2up
I find this book difficult to understand for beginner. Once you a gain experience and read back, it makes sense. Here is another one.
https://archive.org/details/abcofstockspecul00nelsiala
Linda Raschke talked about this book in this video.
The most important of all is patient.
Be more specific:
1. What are you interested in trading: Stocks, currencies, futures, cryptos, commodities, indices, derivatives, swaps....
2. How do you want to trade: day trade, swing trade, position, long-short......
3. Your initial capitals?
4. Your risk tolerance?
etc.
For a start, you need to decide on your development, perhaps in the future professional. There are several ways to learn how to trade on the market.
How do you want to develop, independently or learn from a professional or mentor?
-Books (by yourself);
-Training courses (by yourself, partial support from the course author);
-Training from a practicing trader (mentor) online with further support and assistance;
-Training in the trading room of a trading company.
Trading isn't a science, it has no blanks and ready-made solutions, proven mathematical formulas, ready-made trading robots and algorithms. Therefore, it is very difficult to study this discipline on your own. Statistically, it isn't more than 2-3% of people, and you will have to spend a lot of time and most likely money. By a lot of time, I mean from a few months to a few years.
Even if you choose a partly independent approach, watching ready-made training videos purchased from the author, your chances will also be around 2-3%.
The fact is that in such a complex analytical field, you need a mentor and a trainer, a practitioner who will teach you his approach to analysis and trading, will lead you by the hand, control, critique, guide you. Then your chances of becoming a profitable trader are greatly increased.
To start trading on the Forex market, of course, it is better to complete online training or training in the trading room.
How do you want to develop, independently or learn from a professional or mentor?
-Books (by yourself);
-Training courses (by yourself, partial support from the course author);
-Training from a practicing trader (mentor) online with further support and assistance;
-Training in the trading room of a trading company.
Trading isn't a science, it has no blanks and ready-made solutions, proven mathematical formulas, ready-made trading robots and algorithms. Therefore, it is very difficult to study this discipline on your own. Statistically, it isn't more than 2-3% of people, and you will have to spend a lot of time and most likely money. By a lot of time, I mean from a few months to a few years.
Even if you choose a partly independent approach, watching ready-made training videos purchased from the author, your chances will also be around 2-3%.
The fact is that in such a complex analytical field, you need a mentor and a trainer, a practitioner who will teach you his approach to analysis and trading, will lead you by the hand, control, critique, guide you. Then your chances of becoming a profitable trader are greatly increased.
To start trading on the Forex market, of course, it is better to complete online training or training in the trading room.
do not rush to invest, you always need to somehow learn and understand what's what, and be sure to try a demo account, also a useful thing
I think too that it is in you or it is not. Just like guys that can hit a ball well with great hand eye coordination. Same goes for analyzing stocks. If you dont have that type of brain it will be very hard but if you have a highly analytical brain you'll see stuff no one sees
Like the owl in the dark.
Like the owl in the dark.
Id assume less BS 1000+ years ago, less paper, less computers.
Monks manually writing books.
Idk about them but some BS book to manually copy...madness.