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
First is to know what is your objectives and from then on you should commit yourself on that. You don’t have a choice but to get yourself dirty if you want to get back what you’ve lost or make more out of it, it’s not easy considering you’ve got little portfolio but it’s worth it if in the end you succeed. My advice is to focus on the small profit, let’s see you focus on $20, then $50 etc., that way you’ll focus more rather than focus on the huge amount of profits.