#newbietips Are you a lost Newbie swing/day trader. Start here :
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Have Clean Charts (NO INDICATORS)
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Daily/Weekly Charts/1hr
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Draw Trendlines, Sup/Res lines, Range Boxes,
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Just draw/analyze again & again!
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Analyze how price moves around these levels
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Repeat for 100 Charts
#tradingtips #newbietips You want to start.
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Get a good charting platform
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Look at daily, weekly, 4 hr, 1hr charts, zoom out
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Try to make sense of how price moves
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Do it for 100 charts until you start to see a repeatable pattern
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Later learn fundamentals
Please start here, Read and Re-Read by heart.
What u read in theory, find examples in real time (very important)
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#tradingtips #newbie You are new & lost money, studied hard, got a strategy but scared to get back?
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Take 50 trades with 1 contract or 100 shares.
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Prove to yourself that you can win 30 trades at least out of 50,then scale
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Find conviction/consistency first,$$ comes later!
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Once u can win 50/60% of your trades; find out do u win big and lose small? Is your Win 2R 3R? If after winning 60% times You are still down...go back to drawing board...find new strategy..do test run again until u start to win more than u lose!!
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Does not matter you win 8 times out of 10 if u give all up in 2 loses.
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Trading/Investing to be successful u can't do Random.
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Probability and Statistics of your System is what matters!
Top 3 beginner tips
1. Forget everything or indicators, take clean charts , and start drawing lines and analyze 100 charts
2. Find a system and each trade should be a repeatable process
3. Always keep Loses, R (risk) same, understand Position Sizing #tradingtips
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#tradingtips #starthere #options #newbie
Options Beginners Guide If you are new give this blog a read. Learn just buying Calls and Puts for now Shorting/Selling Puts/Calls ignore that if beginner
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