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Thread for Novice traders.
Many people asks from where do i start learning about trading?
1. Start from learning candlestick pattern.
2. Learn theories behind how demand and supply works.
3. Learn how support and resistance works.
(1/n)
Many people asks from where do i start learning about trading?
1. Start from learning candlestick pattern.
2. Learn theories behind how demand and supply works.
3. Learn how support and resistance works.
(1/n)
4. Focus on larger timeframe first, never start with intraday trading.
5. Start with actual money once u understand above theories. Do infuse only 10% of ur planned capital first and practice with equity segment. Never touch derivatives atleast for first 1 year.
(2/n)
5. Start with actual money once u understand above theories. Do infuse only 10% of ur planned capital first and practice with equity segment. Never touch derivatives atleast for first 1 year.
(2/n)
6. Try to learn from ur trades, what are the mistakes you are doing and try to figure out reason behind that. And try not to repeat same mistakes again.
Some of the biggest mistake novice trader does
-average out losing trade
-don't place SL
-take out profit too early
(3/n)
Some of the biggest mistake novice trader does
-average out losing trade
-don't place SL
-take out profit too early
(3/n)
7. 4 types of trades can be.
-big losses
-small losses
-small profits
-big profits
Once u avoid first one "big losses" Then add another 20% capital.
8. Practise for at least 2 years and once u are able to generate yearly 17-20% ROI then try to explore derivatives slowly.
(4/n)
-big losses
-small losses
-small profits
-big profits
Once u avoid first one "big losses" Then add another 20% capital.
8. Practise for at least 2 years and once u are able to generate yearly 17-20% ROI then try to explore derivatives slowly.
(4/n)
9. When u explore derivatives first learn concepts behind those instruments. Zerodha varsity and market gurukul youtube channel is good source.
10. First learn to control risk when u are entering into f&o segment. Most of people learn this in hard way.
(5/n)
10. First learn to control risk when u are entering into f&o segment. Most of people learn this in hard way.
(5/n)
11. Before anything else first read few books on risk management and position sizing.
12. Once u have identified point 10th and 11th then try to figure out what is best suitable trading style for ur personality.
(6/n)
12. Once u have identified point 10th and 11th then try to figure out what is best suitable trading style for ur personality.
(6/n)
13. Only aim for 1 year should be protect the capital when u enter into f&o segment. Trade with sufficient amount and qty so that it test your emotional balance when trade is on.
(7/n)
(7/n)
14. Once u are in good shape with emotional balance and strategies then infuse more capital.
F&o segment stop at the point u feel the pain in ur personal life as well as professional.
Unless u figure out way of consistency in f&o never continue.
(8/n)
F&o segment stop at the point u feel the pain in ur personal life as well as professional.
Unless u figure out way of consistency in f&o never continue.
(8/n)
15. If you are not getting consistency in your p&l statement then always stop and go back to learning mode and come up with improved version of urself.
(9/n)
(9/n)
Do understand one thing everyone can not success in all business.
Sometimes stopping is better option and try urself in some area where you are good at.
If after 4-5 years of efforts if consistency doesn't come should stop there and explore areas of ur interest.
Best luck.
Sometimes stopping is better option and try urself in some area where you are good at.
If after 4-5 years of efforts if consistency doesn't come should stop there and explore areas of ur interest.
Best luck.
