What should newbies focus on?
- Thread starter trade5656
- Start date
Get a good broker that offer training. Build capital, under funded account is not fun. Stick with big blue chips that pay dividend, learn dollar cost averaging.
Think about WHY price is moving, not price itself. In other words, the cause not the result.
surf
Forget... about all the scary and confusing trading terminology and lingo and symbols and signs and colors;
And just focus or think about the market ball...and why it moves, the way it does; Question and think about that
Given enough time, and experience and wisdom...you'll kind of realize things are not that random.
Everything will grow or blossom from this main and only point you need to grasp.
Now,... you can learn about all those various trading symbols and terminology and etc etc...this is all secondary.
You gotta really Open your mind in trading and be flexible and nimble too -- Anyone that gives you a flat, basic answer is most likely full of stuff, or average or failed.
...watch this video, there's some good tidbits of trading wisdom...
Last edited:
Just randomly place trades, based on the previous days price range, using different stops and profit targets, and time points. And keep repeating and see which ones hit the profit targets, before stop loss. Repeat this every day for 52 weeks, and collect the data and figure out which times during the day are best, and which direction the trade is oriented to a benchmark.
In order for any derivative to expand its range on yearly scale, it needs to expand the range during certain times of the day or overnight. So if your trade is long on a bullish derivative, the probability increases your TP will be hit before SL. Or expand during certain time points of the month.
In order for any derivative to expand its range on yearly scale, it needs to expand the range during certain times of the day or overnight. So if your trade is long on a bullish derivative, the probability increases your TP will be hit before SL. Or expand during certain time points of the month.
Last edited:
Hello,
Good questions.
Find a trading system that have proof of consistent making money.
And like CyJackX said, paper trade or start with small cash capital. Read books and keep it simple.
Good questions.
Find a trading system that have proof of consistent making money.
And like CyJackX said, paper trade or start with small cash capital. Read books and keep it simple.
You beat me to it.
Even before you try and figure out if its going up or down, simply learning the statistical nature of the markets, and of your stops and targets will be huge. I have no doubt that a trader placing random trades, with a right mix of R:R ,that he sticks to every time, will do much better than a new trader trying to follow the direction of the market and being influenced by how much he is up or down, and trying to micro manage the trade in the hopes of making the losses smaller, or hanging onto whatever winner he has.
This is one thing that nobody ever discusses at ET. Nobody shows a nice collection of stats, the distribution of wins and losses,the average win and loss, etc. Its in those stats that the profitable traders shine. Whenever a struggling trader showed the stats of their trades, it became pretty apparent why they were losing. Often times, its not that their trades suck, its what they do with those trades that sucks.
Can you please explain this? It is not clear what you were trying to teach us? An example would be helpful.
Thanks
I believe Gotcha is speaking of the psychology of trading, not the techniques of trading. Check the Psychology section?