Advise for beginners ask yourself why you trade firstly, find that one reason that will keep you in the game until you win.
Remember acquiring the skill for trading is the aim so you know exactly what your doing.
How or what can you do to get started you may ask?
I believe in getting some skin in the game. First do your research , while practicing on a demo account.
Try to not stay in demo for too long, I would suggest two weeks or a month at most on a demo. Demo accounts wont teach you much about what trader you are, you need to feel and deal with the emotions of having your money in the market and that will quickly teach you about money management , a fundamental principle you need to know and understand if you want to last in this game called trading.
Trust me you do not want to learn that the hard way, although chances are you need to be beaten up a few times for you to ask, What am i doing wrong?
In conclusion learning to control emotions and the mind set is key.
Remember acquiring the skill for trading is the aim so you know exactly what your doing.
How or what can you do to get started you may ask?
I believe in getting some skin in the game. First do your research , while practicing on a demo account.
Try to not stay in demo for too long, I would suggest two weeks or a month at most on a demo. Demo accounts wont teach you much about what trader you are, you need to feel and deal with the emotions of having your money in the market and that will quickly teach you about money management , a fundamental principle you need to know and understand if you want to last in this game called trading.
Trust me you do not want to learn that the hard way, although chances are you need to be beaten up a few times for you to ask, What am i doing wrong?
In conclusion learning to control emotions and the mind set is key.
