Jump to content

Recommended Posts

Apologies if this is in the wrong section....

Looking for recommendations on courses/tutoring etc to learn trading basics, I’ve been reading loads, watching numerous videos, YouTube anything and everything basically and all I’ve managed to do is lose 15k in 3 months!

Unfortunately my pockets aren’t bottomless and I would like to try and start earning some of that back, I do seem to do ok then all of sudden it’s gone and back down well beyond what I started on.

Any pointers as to where to look with a more interactive teaching would be very much appreciated.

Share this post


Link to post

In addition to everything @TrendFollower suggested, I suggest keeping a detailed trading journal of all your trades. In particular keep notes of why you entered a position, when you expect to exit the position, and your reasoning for any stop loss/take profit that you have defined.

Keep the journal updated as the market moves and review how your trades have performed and try to figure out why some lost and others were winners. Hopefully over time this will help you gain valuable understanding of how and why you trade the way you do, and ultimately help you become more profitable.

If anything it should help prevent those "revenge" trades which are so tempting after a loss (speaking from experience here...).
 

Share this post


Link to post
52 minutes ago, andysinclair said:

In addition to everything @TrendFollower suggested, I suggest keeping a detailed trading journal of all your trades. In particular keep notes of why you entered a position, when you expect to exit the position, and your reasoning for any stop loss/take profit that you have defined.

Keep the journal updated as the market moves and review how your trades have performed and try to figure out why some lost and others were winners. Hopefully over time this will help you gain valuable understanding of how and why you trade the way you do, and ultimately help you become more profitable.

If anything it should help prevent those "revenge" trades which are so tempting after a loss (speaking from experience here...).
 

Yes I know those too well!!

Back to square one I think for me. Thanks for the pointers again @TrendFollower and thanks @andysinclair.

 

Share this post


Link to post

I would add watch so many charts that at some poi t the patterns will start to be self evident and the behaviour of the price will be less unpredictable.

Commit little money but master your system at every trade.

Embrace the power of timeframes 😀

  • Like 1

Share this post


Link to post

@Dantro,  if you are looking for a mentor you will need to do a lot of research to find one who's approach is compatible with your own.

For a good free study course with videos this is one of the better ones;

https://drive.google.com/file/d/1UJBLRa9Sh0PZ0vL_wI9uDVbIRxVUdazE/view

Find one strategy that suits your approach and practice it over and over until you get good at it and only come off demo when you are convinced it has a good chance of not failing.

When you start live trading start with the smallest size the broker will allow with a view to building up as you get more confidant.

Failure at any stage means going back to devise a new strategy and practice on demo.    

  • Like 1

Share this post


Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Member Statistics

    • Total Topics
      13,162
    • Total Posts
      66,785
    • Total Members
      89,582
    Newest Member
    Bleph10
    Joined 01/12/20 12:36
  • Posts

    • 3 Weeks to Flatten the Curve  -- Day 252 and counting:   A Dr writes, Yardley Yeadon @MichaelYeadon3 (PhD respiratory pharmacol) 1h "... The hallmark of a pandemic is excess deaths, such as the extreme event in spring. In the autumn, in excess of 10k deaths have been attributed to covid19. Yet the autumn all-causes mortality is barely above the 95% confidence interval for the 5y average. That’s not even an epidemic. For comparison, the degree of elevation of the last weeks all-cause mortality is the same as that arising from the first real heatwave we’ve had in U.K. (several days in Aug where temps exceeded 34C). Those were circulatory excess deaths & are familiar in Europe. Oddly though, now, non-covid19 deaths are apparently reduced. As this is most unlikely, there is significant overstatement of covid19 deaths, in turn due to the volume of false positives from PCR mass testing. Corrected for this, the dominant cause of total mortality is likely due to restricted access to the NHS for 8mo & counting. ..."  
    • but there has been a mass of data already published that the lockdowns or masks have not had any affect in fighting Covid at all. 
×
×