Trading tips for Beginners! First things first. #1

Hi everyone! I'm back with some trading tips for beginners.
#1 Never start with money trading. A lot of people come to me only after they've lost a lot of money trying to get started trading. You'll devastate your trading psychology and probably also your bank account!

You should open a demo trading account so you can practice paper trading for 2 to 3 months before starting to risk your money. You can start with a small trading deposit and move on from there.
#2 Start with simple patterns. I know that I generally say that simple patterns don't work in the long run. But simple patterns will help to teach you other trading skills that you'll need, such as setting stop orders. You'll gain experience and it will allow you to get a feel for the market. This is a great foundation to build on, as you build up to more complex analytical tools and structures.
#3 Write your own trading algorithm. An algorithm is a list of rules that you follow as you engage in trading, so you don't get side-tracked by bad actions or negative thinking as you trade. This is a "pre-flight checklist", to make sure it's exactly the type of trade you want to engage in. This will create a systematic framework for your trading. Of course, do this with paper trading!

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Видео Trading tips for Beginners! First things first. #1 канала Thomas Kralow