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I've been trading the stock market for over 5 years now
I've experienced my fair share of mistakes during this time
Let me go over with you the
"Top 7 Mistakes New Traders Make"
- A Thread -
I've experienced my fair share of mistakes during this time
Let me go over with you the
"Top 7 Mistakes New Traders Make"
- A Thread -
1.
- Buying Before Learning -
Traders are lured in by the "fast easy money"
That's a recipe for disaster
Build your foundation before you build your house
Stop trying to rush the process
- Buying Before Learning -
Traders are lured in by the "fast easy money"
That's a recipe for disaster
Build your foundation before you build your house
Stop trying to rush the process
2.
- Avoid Leverage Like The Plague -
Most newbies think more money equals more profits
Let me tell you that 1:5, 1:10, 1:100 leverage will only hurt you
More money equals more stress as beginners
It also happens to be a great way to lose all of your money
- Avoid Leverage Like The Plague -
Most newbies think more money equals more profits
Let me tell you that 1:5, 1:10, 1:100 leverage will only hurt you
More money equals more stress as beginners
It also happens to be a great way to lose all of your money
3.
- Avoid Information Overload -
As traders we focus on the chart
Everything we need to know is in the chart
Stop searching for every single piece of news on the stock you're in
You'll only stress yourself out unnecessarily
- Avoid Information Overload -
As traders we focus on the chart
Everything we need to know is in the chart
Stop searching for every single piece of news on the stock you're in
You'll only stress yourself out unnecessarily
4.
- Keep Your Emotions Away -
Emotions have no place in the market
If you saw me during market hours, you'd realize I'm very robotic
As beginners you won't be able to control your emotions very well
It happens
Just make sure you're working on controlling them over time
- Keep Your Emotions Away -
Emotions have no place in the market
If you saw me during market hours, you'd realize I'm very robotic
As beginners you won't be able to control your emotions very well
It happens
Just make sure you're working on controlling them over time
5.
- Avoid Short Selling -
As rookies you should really avoid shorting
Your upside is limited while your downside is unlimited
Say you short a company at $10
To make 100% the company would have to go to $0
But the company could always rise to $20, $50, $100 (you lose)...
- Avoid Short Selling -
As rookies you should really avoid shorting
Your upside is limited while your downside is unlimited
Say you short a company at $10
To make 100% the company would have to go to $0
But the company could always rise to $20, $50, $100 (you lose)...
6.
- It's A Marathon Not A Sprint -
Newbies tend to trade like they have to be rich tomorrow
You'll blow up your account this way
Take your time
Learn first
And then implement what you learned into your trades
- It's A Marathon Not A Sprint -
Newbies tend to trade like they have to be rich tomorrow
You'll blow up your account this way
Take your time
Learn first
And then implement what you learned into your trades
7.
- They Only Look At The Upside -
You need to know the risk you take before every trade
Stop thinking about the upside 24/7
Know your risk and try to make 3-5 times that
Risk management is the #1 tool traders need to master in order to profitably trade
- They Only Look At The Upside -
You need to know the risk you take before every trade
Stop thinking about the upside 24/7
Know your risk and try to make 3-5 times that
Risk management is the #1 tool traders need to master in order to profitably trade
Want to become a better trader?
Join over 100 people subscribed to The Big Picture
I give you the blueprint in order to trade the right names
All you have to do is buy the stock and sell https://gum.co/elIOM
Join over 100 people subscribed to The Big Picture
I give you the blueprint in order to trade the right names
All you have to do is buy the stock and sell https://gum.co/elIOM
