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

pezza55

Member
I would say my best piece of advice would be always use a stop loss. It's important to review regularly while trading. Move it into profit as your trade goes well so you always secure a profit. You can also us it to ensure you only risk a small percentage of your account on each trade.
 

sharabela

Active member
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.
Be patient with learning. Never be in a hurry to start live trading. Do demo trading at least for 6 months. Trade on demo as if you are trading with real money. Develop your own strategy that works for you. I am wishing you all the very best.
 

Portatile

Newbie
Hey! I’m also new to this forum but not to trading so one advice from my personal experience would be not to rush. As a beginner I tried to earn more money, learn everything and that too so quickly that instead of moving forward I just wasted my time. I had no patience to wait. I never considered if I am actually understanding everything that I’m doing. I was only focussing on making money which cost me my efforts and time. Therefore, be slow, try to have in-depth knowledge and practice as much as you can.
 

taylorarnold

Junior member
There are no free meals. This is also true for trading. Many traders have a mindset about earning easily and quickly which leads them to fall on their faces. Before you start your trading journey it is important that you have the right mindset and you should be prepared for learning and understanding the concept of the market with patience and dedication.
 

IceThor

Active member
There are no free meals. This is also true for trading. Many traders have a mindset about earning easily and quickly which leads them to fall on their faces. Before you start your trading journey it is important that you have the right mindset and you should be prepared for learning and understanding the concept of the market with patience and dedication.
Good advice this. Mindset also is key.
 

Flink

Junior member
Practice 10,000 hours because no magical indicator or system can replace the importance of practicing. Until you haven’t practiced enough don’t risk a huge amount and never blame anything else for your losses.
 

Lencho

Newbie
Hey! I’m also new to this forum but not to trading so one advice from my personal experience would be not to rush. As a beginner I tried to earn more money, learn everything and that too so quickly that instead of moving forward I just wasted my time. I had no patience to wait. I never considered if I am actually understanding everything that I’m doing. I was only focussing on making money which cost me my efforts and time. Therefore, be slow, try to have in-depth knowledge and practice as much as you can.
I've been there and am now starting to trade again, but focus will be more on the process and on getting good at the game and not on the money. My skype address is live:jfmtz11 , feel free to connect . part of the new trading process is to have a trading buddy that can help each other stick to their rules and their pre determined risk settings. Thx.
live:jfmtz11
 

Lencho

Newbie
I've been there and am now starting to trade again, but focus will be more on the process and on getting good at the game and not on the money. My skype address is live:jfmtz11 , feel free to connect . part of the new trading process is to have a trading buddy that can help each other stick to their rules and their pre determined risk settings. Thx.
live:jfmtz11
 

Lencho

Newbie
I've been there and am now starting to trade again, but focus will be more on the process and on getting good at the game and not on the money. My skype address is live:jfmtz11 , feel free to connect . part of the new trading process is to have a trading buddy that can help each other stick to their rules and their pre determined risk settings. Thx.
live:jfmtz11
I'm sorry the skype account is [email protected]
 

sharonj

Junior member
Keep trading simple.Use simple strategies that give you enough space to handle the situations.Don't go beyond your understanding .If you wish to enhance your knowledge,make use of a demo account.No need to try everything in the market with your money at stake.
 
One advice that I'd like to give any beginner is: Don't always expect profits. You will probably lose more that you are going to earn and there's nothing wrong with it. That's how you get better but make sure you are not risking too much in the learning phase. Moreover, at times when you don't make profits but cut your losses short, celebrate it too!
 
 
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