What advice would you offer a person who is new to trading?
Another great topic for discussion and one that is dear to my heart as i now assist more than 100 new traders along their journey.
I started to explore the markets around 2015, By way of background we (my wife and I) had effectively retired in 2013 and we were aged in our mid 50's. Having worked for more than 30 years I was after something that would offer mental stimulation. So, in my typical approach to a new endeavour, I set out to devour all I could and to this end I read, watched youtube videos and, made copious notes. I only started trading around 2015 and focused on short and medium term trades, using a trend following approach.
Today, I have only one stock in our portfolio and it is Painchek - which I hold as i hope that one day I may benefit from the technology it offers.
My advice to someone new to trading would be very simple. Study and explore for at least 2 years before you actually trade. Trading will always be there so please be in no rush to trade. Remember that you have worked hard for the funds that you are willing to invest and that you want to grow your assets.
I often ask those I assist what do they do for a living and what do they want out of trading. That then gives me an in where I can make them see the "ah-ha" moment of clarity.
