Hello! My name is Taylor and I am new to trading! I’ve been putting it off for a long time but at this point I’ve come to learn that it’s now or never. You have to take risks to get where you want to be! Hopefully this works out in my favor…
hello only persevere if you accept its going to be frustrating at times, there is a lot of "ifs and buts " in trading its how you react is what matters.When you start, lots of it such as using indicators ,moving average cross overs ect these alone will not help you find the holy grail
Learn first with a demo account. Try this babypips.com/school.
This can be achieved with the right mindset, which is emotional control, and why many newbies fail by overtrading, revenge trading, and gambling their capital away.
Sensible risk taking is completely different. That means setting a maximum risk per day and keeping to it. It also means cutting losing trades early before the market proves you wrong, and it also means letting your winning trades run, and even adding to your winning position, without losing your cool if it all blows up.
Every newbie - and traders on this site - should read this:
https://tradertom.com/wp-content/uploads/2021/03/Phantom-of-the-Pit-Abridged.docx.pdf
The best advice I can give to any newbie is not to waste time looking for shortcuts. There are no shortcuts in the market and if you try to find some, you may end up getting scammed. Focus on learning so that you can differentiate between what is real and what is a scam.
trading is full of ups and downs for everyone, even the skillful
Pick a fibonacci retracement tool,
0, 38.2, 61.8, 100
Be creative
Study the market, try to find where will the trend reverse, what levels price likes to test etc…
Hey Taylor, welcome aboard
Make a solid trading plan, of which risk management should be central. Risks are certainly there but can sure be minimized.
Taking risks is necessary but it’s better and wise to do that with a little knowledge in hand so that even if you end up losing, which again is inevitable in trading, you lose little.