Chris,
Have you ever considered paper trading while you develop your trading approach/trading plan which should including
- what factors you will use to enter and (most importantly) exit a trade
- what percentage of your capital you will allocate per trade/
- how you will analyse all close trades to ascertain how/why you deviated from your plan
- what technical indicators you will rely on
- deciding whether you will trade daily, short-term, medium term or long term
- etc/etc/etc
This is only a very quick summary of factors you should be able to answer before you commit to trading. I believe continual learning is essential as you will constantly fine-tune your approach as you develop.
Trading should be rewarding both mentally and financially as long as you are prepared to learn. For instance in my professional capacity I was the Managing Director of an international company. This took 6 years part-time study then 3 years part-time doing the CPA program. Unfortunately many people will try their hand at trading with no learning at all - and invariably they will lose money.
Sorry to rave on but it is important to assist people who are willing to be humble, ask questions and put in the effort . HC is full of newbie male investors who never make a losing trade (until you ask them to provide details of their share account in which case they fade away). Last night for instance there was one chap who indicated he had a trading plan which was 100% accurate....
Enjoy the journey and sorry to have been so long winded...!.
V
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- Day Trader’s Aftermarket Lounge 2 July 2020
Chris,Have you ever considered paper trading while you develop...
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