To all the beginner traders out there. Never ever give up! No matter How many accounts you blow, how many traders are in the red or just simply need a motivation! Trading is one of the hardest skills to master, becoming profitable in the long run is why the success rate for trading is 10% and 90 fail.
If it was easy everyone would do it!
1. rely on your own logical thinking and never trade off emotions.
2. practice, practice, practice, Use an amazing Tool called “papertrading” and set an amount equal to what you want to start out with and treat it as its your hard earned money!
3. ALWAYS use a stop loss, trading will always end up with a loss, we as Humans simply cannot predict the future. Pro traders lose small and win Big, beginner traders lose big and win small!
4. The market isnt a casino, while trading falls under the definition of gambling, what separates good traders from the bad ones are the edge they have on the market, if you can find a strategy that works 65%+ of the time you are 70% of the way, let your profits soar and cut losses early. Test popular trading strategies for at least 3 weeks, and see which one works best for you. If you gamblle the market without proper position sizing and risk management, the market will chew you up and spit you out like its nothing.
And finally, BELIEVE IN YOURSELF, not just in trading but with all things in life. Remember why you started, have a vision and remember that YOU can do anything!
Goodluck on all your trades today and next week and ill drop more tips monday! Lets get those gains today👏👏$TESLA $SPDR® S&P 500 ETF Trust $Genius Brands $Ideanomics Inc $Apple $IBIO $NIO Inc. $Aytu BioScience $SUNDIAL GROWERS INC. $Taronis Technologies Inc $Hertz Glo Hldg #Today's Profit / Loss $XPRESSPA GROUP $Kitov Pharms
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