Where you start?

Hi everyone, I am new in trading and I would like to know where I should start. It's always crucial not to get disappointed taking the first steps. Any recommendations to begin with would be appreciated.

Thanks

Narine said:

Hi everyone, I am new in trading and I would like to know where I should start. It's always crucial not to get disappointed taking the first steps. Any recommendations to begin with would be appreciated.

Thanks

Click to expand...

OK, this is what worked for me:
1. Get all the back data you can find (should spawn more than one market cycle) and start back testing all trading strategies you can find for free ( do not pay more than the cost of a book for a strategy and stay away from "mentors" and "educators")
All of them fill fail, but you'll get a feeling for the market and hopefully you'll start coming up with your own ideas.
2. Risk management, very important, look at the Kelly criterion and start with 1/2 Kelly in the beginning.
3. Be patient and don't be greedy - it will take years and do not expect to make double digits return per month and do expect to have losing months and years, but in the end with a robust trading strategy and proper risk management you can make money in the stock market and with the miracle of compounding you can indeed retire comfortably...
Good luck!

Thanks for the answer

Thanks a lot, I will try to take my first steps keeping your recommendations in mind. This will help me to make less mistakes.