Where to start as a beginner trader?
Millions of new traders come to trade the markets every day, but most get out with a smaller capital and more knowledge. Trading is a game of odds. nothing is 100%. So how do we turn the odds into our favor? There are two ways to become a profitable trader but they all come down to knowledge.
This one i recomend. Since you are going to take loses anyway, pay for a course, book or mentor. You will not make it in this business without spending a cent (or losing it in a trade). You can even atend trading classes. Just make sure to backround check whichever method you chose.
This way is harder and takes more time. it is learning the hard way. You trade without any knowledge and learn as you go. Of course, do this on a demo account.
You will probably commit trades on a demo account (which is fine) but just remember you bought yourself knowledge but not a mindset.
So now, you know the basics of trading and its concepts. What is left to do is work the numbers. Make a trading plan. Find a strategy that works with the right risk managment and you are on your way to become a profitable trader.
If you have problems with closing trades early or something similar, check out my other educational post.
As always, good luck traders.
This one i recomend. Since you are going to take loses anyway, pay for a course, book or mentor. You will not make it in this business without spending a cent (or losing it in a trade). You can even atend trading classes. Just make sure to backround check whichever method you chose.
This way is harder and takes more time. it is learning the hard way. You trade without any knowledge and learn as you go. Of course, do this on a demo account.
You will probably commit trades on a demo account (which is fine) but just remember you bought yourself knowledge but not a mindset.
So now, you know the basics of trading and its concepts. What is left to do is work the numbers. Make a trading plan. Find a strategy that works with the right risk managment and you are on your way to become a profitable trader.
If you have problems with closing trades early or something similar, check out my other educational post.
As always, good luck traders.
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