10pips
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Focus on psychology and risk-management.
Trade more than one market
Don't trade smaller timeframes
Don't try to call tops/bottoms
Learn to identify when the market is 'ranging' - Zooming out of chart helps
Don't compare Demo trading results vs Live trading
Don't buy courses/trading strategies
Don't get carried away after 3-5 winning trades - Good feelings are hard to tame.
Don't trade alone
*Print these and read it to yourself every now and then*
Trade more than one market
Don't trade smaller timeframes
Don't try to call tops/bottoms
Learn to identify when the market is 'ranging' - Zooming out of chart helps
Don't compare Demo trading results vs Live trading
Don't buy courses/trading strategies
Don't get carried away after 3-5 winning trades - Good feelings are hard to tame.
Don't trade alone
*Print these and read it to yourself every now and then*
Hi Dimba,
You are not along and many others are looking for answers for the same question. I agree with 10pips, but there are many more to add to his/her list.
I read once that becoming a good trader is like becoming a pilot, years of studies, exams and then again years of training. But you still face the risk of crashing on daily basis. You need to have skills, patience, ability to learn, discipline and so on simply to survive.
I am sorry, but I have to agree. My story is more or less similar to that of a pilot and even today I face the rick, which is of cause my reward!
Trading systems, specially automated ones, tips, gurus and so on. Just be careful, if it is that simple, everyone will be millionaires in few months. If it sounds too good to be true, its almost always is!
So IMHO, you should start from reading books. My favorite author is Benjamin Graham.
You are not along and many others are looking for answers for the same question. I agree with 10pips, but there are many more to add to his/her list.
I read once that becoming a good trader is like becoming a pilot, years of studies, exams and then again years of training. But you still face the risk of crashing on daily basis. You need to have skills, patience, ability to learn, discipline and so on simply to survive.
I am sorry, but I have to agree. My story is more or less similar to that of a pilot and even today I face the rick, which is of cause my reward!
Trading systems, specially automated ones, tips, gurus and so on. Just be careful, if it is that simple, everyone will be millionaires in few months. If it sounds too good to be true, its almost always is!
So IMHO, you should start from reading books. My favorite author is Benjamin Graham.
timsk
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Hi dimba,
Welcome to T2W.
When you registered, you were sent a welcome e-mail which contained some links for you to follow which will set you on the path to becoming a good trader. I suggest you start with those and then post any questions you may have here.
Tim.
NVP
Guest Author
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take your time .......don't rush .........expect many hurdles and challenges
specialise when you are ready ....then dig deeper and deeper into your area
it will take a long time but if you are focussed, diligent and smart enough to adapt then you will one day be profitable consistently
it sounds corny but its all about experience in his game (what game isn't ?)
N
specialise when you are ready ....then dig deeper and deeper into your area
it will take a long time but if you are focussed, diligent and smart enough to adapt then you will one day be profitable consistently
it sounds corny but its all about experience in his game (what game isn't ?)
N
I really couldn't have put it better.
I'd add:
-Learn from your mistakes
-Create a trading plan
-Never risk money you can't afford to lose
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