I am new to trading...any advice would be greatly welcomed!

Brit trader

Newbie
1 1
Good afternoon...My name is Eldon and I am new to trading. I want to learn how to effectively day trade and it would be good to have a mentor?
Any advice where to start would be greatly welcomed.
 
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MasterOfCoin

Experienced member
1,228 477
Good afternoon...My name is Eldon and I am new to trading. I want to learn how to effectively day trade and it would be good to have a mentor?
Any advice where to start would be greatly welcomed.
Welcome to T2W.

Suggest you quietly follow a few threads to find one posting frequently.

Remembering, of course, there's probably a difference between 'quality' and 'frequency' to some prolific posters content.

;)
 

maby8

Junior member
32 3
I am also a newbie so I cannot really give you expert advice. However I can share with you what I am doing: I am getting more acquainted with the intricacies of trading by reading several posts, and understanding what other traders are sharing and discussing. Luckily there are many helpful posts in forums and they are helping me by teaching me some insider knowledge, or at least that is how I feel. I am also trying to look out for good platforms that can help me with tools and forex news, as in this way I can feel more confident in my trading decisions.
 

drcruz

Junior member
38 12
My advice, read, read, and read. Find out what interests you and start. Max loss per trade should only be about 1 to 5% of available capital. You will blow up an account, but that's expected. 3 to 5 years before becoming profitable is a realistic expectation.
Authors I like for beginners:
- Mark Douglas Trading in the Zone (The Disciplined Trader and Trading in the Zone can be counted as Vol. 1 and 2)
- Van Tharp Super Trader is pretty good
- Favorite TA book the Edwards and Macgee book (even for day trading and clean chart watching price action this book still works)

Also for day trading watch the SMB Capital videos on YouTube, try to understand "Stocks in Play"
 

Elsa50Pounder

Junior member
20 0
It’s your own choice to get a mentor, but trust me you can do well in the trading market without having one. You just have to learn all the basic things and the rest of the learning can be done while actually trading.
 

drcruz

Junior member
38 12
ONE MORE THING:
Free YouTube videos for day trading may also be a good start - Shay the "Humble Trader" seems to know what she's talking about
 

Karebenj

Newbie
5 0
The most important thing here is to find a high-quality and good video, then it will really be useful.
 

hedleyhowarth

Junior member
10 0
@Brit trader A warm welcome to the community! Yes, the idea of having a good mentor at the beginning would prove to be quite beneficial. You can get the right guidance from the mentor and the trading would be better.
 

absence

Junior member
49 10
A simple advice is to take as much as time you can with demo trading. It will help you to get better in time.
 
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NVP

Legendary member
37,731 2,083
Demo Demo Demo
Learn Learn Learn
wise words from Thor.....get 6 months of demo and Free learning under your belt....then start to specialise and learn learn learn

dont pay for any garbage out there ....you can learn it for free
 

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tradingout

Junior member
36 5
Welcome to the forum!
Make sure to check out the pinned threads in here, they are very useful to help you out when you are stumbling while trading.
 
 
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