Hi Rick welcome, Trading is the best job in the world, and you should treat it as such, treat it as a business, turn up to work at the same time every day, and don't expect to earn a 6 figure salary in the first year, it takes on average 4 to 7 years to become consistently profitable in trading. It's a great idea to study other traders strategies...all strategies work. But not all strategies will work for you. You need to figure out the person you are and what strategy works for you, therein lies your edge.
Read, read and study and listen to podcasts.
Figure out what trading style will suit your personality, do you want to be staring at a screen all day? or would you rather swing trade based on end of day signals?
If you are expecting to make a certain amount of money every week to cover cost of living/ mortgage etc. just don’t! LOL
Do you like technical analysis or are you a more macro person…ie: trading fundamentals?
The most important lesson is resilience.. ( read preserve capital )
Some resources.....
“ The mental edge in trading” by Jason Williams can help you assess your innate personality traits and can help figure out what trading style suits.
Mark Douglas " Trading in the zone"
- For understanding market structure…
Brian Shannon of Alphatrends has some great trend following advice
Michael Covel’s “Trend following”
Chat with traders podcast is 250 episodes of absolute gold!
Trading Nut is another great podcast.
Investors underground offers a free comprehensive course in trading.
Trade on the fly
Hit and run candlesticks..
Baby pips
MoneyBall Austin
Michael **le from Fairmont equities posts chart analysis every week that is very basic, but still interesting.. On X ( twitter )
There are dozens of books to read and resources like the market wizards series..
In my opinion the best learning tool is your own trading diary…it will tell you where you went wrong and right.
In the end the market will extract the cost of education
Pop up a chart in the STT thread or the Day Trading after market thread and some helpful people will give their analysis. Remember we all trade differently, one person will be certain a chart is a buy, another a sell and they are both right; according to their strategy.
Trading is a long, long journey and paper trading ( trading a demo account ) is often touted as a good way to begin, but I believe you need skin in the game to truly understand your psychology, After all trading is said to be 80% psychology.
Swing * Trade * Bot does free analysis. as does Investing dot com. Market In Out has some free charts then you have to pay a subscription for any more..
the other websites here are market* index dot com
Stock * beep dot com
61 * financial dot com dot au
and trading * economics.
https://asx.swingtradebot.comhttps://au.investing.com/markets/https://www.marketinout.com/stock-screener/industry.php?picker=ema_crossovershttps://www.marketindex.com.auhttps://au.stockbeep.com/breakout-stockshttps://www.61financial.com.au/en-au/prices/pharm_biohttps://tradingeconomics.com/commoditiesGood luck Rick and may your trading journey be long and fruitful
( I put the little asterix in and spell out the dot com as Hot copper does not allow sharing of some names and websites..)
