Steps that a newbie trader become real trader

[Citigrade]

You need to have the proper mindset if you want to become a good trader. No matter how much you believe you have already learned, you must be willing to learn from any source you come across. Additionally, keep a trading notebook to record all of your trades so you can see where you need to make improvements.

 

[antwanmcdonough]

I agree, practising is one of the most important steps in the process. Take your time to figure out a working strategy and calculate a strong risk ratio so you can make decent rewards as the process continues. Stick to the plan you started with and maintain discipline. Control greed and fear and you’ve got yourself a great future in the market.

 

[Zygosis]

If you want to go from being a novice trader to a professional one, follow these steps:

1. Keep learning and upskilling yourself.
2. Practice makes you perfect, so keep practicing on a demo account.
3. Start small. Do not take too much risk in the beginning.
4. Learn from your mistakes. Never repeat the same mistake.
5. Maintain a trading journal. It will help you identify your strengths and weaknesses.

 

[Bugaboo]

The steps that the OP has shared are surely the basic things that you must do for a successful trading career. But these are just the outline of what trading looks like in reality. When you start reading up, you will know that the syllabus is vast. You may need more or less than 3 months to practice on a demo account. Micro trading is also not that simple. Skills take time to develop. Be open to your learning process and don’t even expect to make money all the time.

 

[Serimeter]

@ Zygosis These are really good points you brought up. I would like to add a few more to this.

1. First, developing an effective plan of action, sticking to this plan throughout the entire trade,
2. And, second, good trading psychology.

 

[onomatopoeia]

@Zygosis For the development of trading skills new traders must be willing to invest the necessary time and efforts in understanding the basics about the market. This may take a few months to a few years. The profits in the market depend on the experience and fine skills to trade it.

 

[Emmanuel Kofi Boateng]

As a beginner going through theories ain't enough via PDFs are not necessary. All you need is to practice you learn on the chart.

 

[Agynary]

As a newbie, you will see that there are suggestions all over the internet about what you should do and what you shouldn’t. But all these suggestions are useless if you don’t know how to make the most of them. So, while you enhance your knowledge by reading, also obtain experience with practice trades.

 

[Berserker]

A newbie’s goal must not be making money but finding the best trading strategy. Profits don’t start coming in from the beginning. You must keep patience to keep trading even if you have not been making profits. Focus on learning and obtaining trading skills.

 

[nicob888]

All good tips and would be great and very helpful. Thanks