I want to start trading!

This is a discussion on I want to start trading! within the First Steps forums, part of the Reception category; I went head strong into buying up stocks and buying into funds with my SIPP. Had a really quick wake ...

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Old Jan 11, 2018, 4:20pm   #46
 
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Joined Nov 2017
I went head strong into buying up stocks and buying into funds with my SIPP.

Had a really quick wake up call.

Taken me two months to get it all sorted out and in a position to take forwards - put extra money in etc.

Everyone has their own way of doing things.

I'm still a complete novice with no real clue I guess.

Maybe thats how it feels all of the time haha.

Either way, research is vital.

I could have done with spending at least two months more reading about where to start out and entry and exit strategies.

Ash
Ash01 is offline   Reply With Quote
Old Jan 15, 2018, 12:10pm   #47
 
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Joined Jan 2018
Hi,
if we are talking forex i guess the first step is to start demo, and stick to it, and from their you can jump into basics and try them on your demo account with out the fear of losing real money, i hope it helps.

Thank You.
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Old Jan 15, 2018, 7:27pm   #48
Joined Oct 2015
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Originally Posted by Ash01 View Post
I went head strong into buying up stocks and buying into funds with my SIPP. Had a really quick wake up call...Taken me two months to get it all sorted out and in a position to take forwards ...
hi ash, what happened?
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Old Feb 6, 2018, 4:16pm   #49
 
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Joined Jan 2018
Hello liorules

Quote:
Originally Posted by liorules View Post
Hey guys, I'm new to the forum. I have always had a keen interest in trading and would like to start trading one way or another. I have done some research before but I get confused as to what platform to use etc. As an economics graduate I know the risk associated with it. So what would you guys suggest the best way to get started? Also ideally I would love to be someone's apprentice and was wondering if there are any opportunities like that around. Thanks in advance for your reply.
First thing first, keep in mind that the market does not offer any guarantees. The fact that an analyst recommends a stock does not mean that the stock is going to go up. Keep in mind that INFORMATION is your best friend in the market. Study the company before you invest. Another important tool for making money in the stock market is PATIENCE.
Many novice investors would sell at the first sign of softness in the price. When the price goes up again they blame themselves for not having enough patience. But the next time they buy a stock, they repeat the same mistake again.
Here are my few points that you should keep in mind to be successful in stock market
1. Donít stop learning.
2. Do not follow tips from others blindly.
3. Never put money into the market that you can not afford to lose.
4. Feel Stock market trading as a professional Job.
5. Keep your mind peaceful before you sit to do trading.
6. Donít make your personal problems to get an impact on trading.
7. Do have a plan( research) on stocks before the market opens.
8. It is good to stick to the basics.
9. You should know your risk to reward ratio
10. You should be ready to book profits after targets are achieved
11. You should be prepared to lose some money if decisions go wrong
12. Trade with Strict Stop-loss
13. Over-trading should be avoided
14. Take some profit out at monthís end.
sunflyerman is offline   Reply With Quote
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Old Feb 6, 2018, 7:20pm   #50
Joined Oct 2015
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Originally Posted by sunflyerman View Post
First thing first, keep in mind that the market does not offer any guarantees. The fact that an analyst recommends a stock does not mean that the stock is going to go up. Keep in mind that INFORMATION is your best friend in the market. Study the company before you invest. Another important tool for making money in the stock market is PATIENCE.
Many novice investors would sell at the first sign of softness in the price. When the price goes up again they blame themselves for not having enough patience. But the next time they buy a stock, they repeat the same mistake again.
Here are my few points that you should keep in mind to be successful in stock market
1. Donít stop learning.
2. Do not follow tips from others blindly.
3. Never put money into the market that you can not afford to lose.
4. Feel Stock market trading as a professional Job.
5. Keep your mind peaceful before you sit to do trading.
6. Donít make your personal problems to get an impact on trading.
7. Do have a plan( research) on stocks before the market opens.
8. It is good to stick to the basics.
9. You should know your risk to reward ratio
10. You should be ready to book profits after targets are achieved
11. You should be prepared to lose some money if decisions go wrong
12. Trade with Strict Stop-loss
13. Over-trading should be avoided
14. Take some profit out at monthís end.
Nice post but you are talking to someone who last logged in over 5 yrs ago
Kaeso is offline   Reply With Quote
Thanks! The following members like this post: Quantt
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