CT79 wrote:
Hi Debbie,
I would recommend reading and reading again Remo's Learn to Trade section, so much good advice.
Decide on what you want to trade, whether it be specific stocks/indices/commodities etc but only pick a few to follow at first
The more you follow them, the more you'll feel comfortable in how each acts to certain levels etc - try to follow too many and you'll probably feel overwhelmed
PATIENCE is so important, set your support/resistance levels on the chart and wait for the trade to come to you. Don't just jump in because the market is moving and you feel you're missing out, wait for your level
STOP LOSSES are going to become your best friend - Please don't trade without them, I learnt this the hard way....it breeds stress that nobody needs!
GREED is a killer also, never be afraid to collect your reward even if you feel you could get more as profit slips away much quicker than it can arrive
STRESS usually comes when you've jumped into the wrong trade and are holding onto it. As soon as you feel it's wrong, it is usually best to bail sooner as things can get a lot worse
Just take your time, there's always another trade around the corner
A few of us spend most our time in the chatroom, pop in and don't be afraid to ask any questions......after all, with trading we're always learning!!
CT79
agree with the above and I permit myself to add these
discipline, strategy,Make a Plan ...... Execute the Plan.... psychology
don't forget the mistakes that one can make
Not Taking Profits
Not Limiting Your Losses
Not Controlling Your Emotions
Overtrading
of course could be a longer discussion but the above IMO are the starting point
""don't follow me Iamneverright"