i am new here and really need someone to put me through in trading.
Thanks in advance
Start simple. Open a demo account. Find a Youtube clip of a simple trend-following strategy based on daily charts. Adjust your position size so that your risk is 1% per trade. Always set a stop-loss.
Draw up a table for your first 50 demo trades. Run all 50, even if all 50 are losers you will learn so much. Log why you entered, how you set a stop-loss price, how you decided where to get out and why, and record the result. Log what happened to the chart after you got out.
Keep doing all of that and then go back through your results and try to find patterns. Or, try to find trades where things went in your favor and figure out why- then keep trying to reproduce that. Also, find the patterns for trades that moved against you and figure out why.
Another piece of advice- you are not your trading. Your emotional state should not depend on whether or not you made money today. Being right will burn you. There is no right or wrong in trading. Just those who make money and those who don’t.
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I agree, youtube videos can be very helpful.
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Choosing a good and reliable broker is the most difficult thing in this market. So, be careful when you are going to choose a broker for you.
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