What should newbies do in trading?
What should newbies do in trading?
I’m also beginner in trading. I trade since this summer and I lost about $90 on $120 account. Recently I make $20 on last $34.
Throughout my journey in trading, I read Jack Schwager’s book, watched many educational videos on YouTube, read many articles on the educational sections of CEX exchanges, and also talked with many traders. It seems to me that I understand enough about technical analysis, trading systems and trader psychology. But I’m at a dead end and don’t know what to do next. Other traders advised me to just trade, but I think that over time I will lose my remaining $45, and demo trading does not bring such emotions and I don’t want to try hard when trading it
Aside from basic fundamentals of trading, and other things you should study.
You need to control yourself, especially when entering a trade after you lose a trade. Don’t rush yourself making a big profit, keep it at a steady phase, don’t expect too much from yourself since you’ve just started your trading journey. It’s important also to don’t quit if you really want trading as your source of income. Don’t afraid to try new things, that’ll help you grow as a trader and a person.