Newbie traders, work on yourself.
Newbie traders, work on yourself.
Newbies when it comes to trading you have to work on discovering yourself and not to basically depend on a third-party or trading signals before you can execute a trade. You can rely on signals from those you view as professionals and still would not make profits and the reason for this isn’t far fetched from the truth. It is because since it’s not your analytics you have no comprehension to build confidence on the basis to why the signal request you to either sell or buy which makes any little falllback, retreat or retracements of the market in the process of your trading causes you a cold feet and extreme fright.
So the earlier every newbie interested trader understands that the period he/she could use to seriously learn how to trade no matter how short the period could be in acquiring the right ideas/knowledge about trading to make you selfreliance, you’ll be exhuming yourself from days to years of reliance on signals that not even have the potent to making you profit compared to that which comes directly out of your own self-made analytical work.
Common mistakes of those newbies in trading are being hyped and excited about the profit they are seeing when they see advertising or influencers that are flexing their earnings from trading. They think it is easy as that without knowing that those influencers or ads don’t show the hardship or grey part of trading. Trading has a lot of chances of losing money depending on how competent and skilled you are. Trading is a continuous learning and trial and error. If you can’t handle the thought of losing money, then it can’t be sure that you can survive in this industry.
There are many posts or topics about advice or reminding new traders of what they should do and not do, but it will not be effective if they don’t read those topics. How about those traders who are not familiar with this forum? How can we reach them about this kind of topic so that they can avoid what they are doing wrong in trading?