Having just started STT in the last 8 months or so I have learnt a lot - mainly the hard way. First entry into the market was fomo which was costly but turned out to be a great mistake as I've learnt to show some patience when the market has moved and it looks like a climax in terms of distribution. Once you've been sucked into it it is recognisable to a point on charts. Have just started to try understanding VSA which for a beginner has helped a lot - looking at the basic spread and volume and looking at previous trading has prevented a couple of rookie balls ups - by no means have I grasped it yet but essentially it's saved a bit of capital which is great. Have started with 5k 8 months ago and have ~$5100 to date unrealised. ( 5 grander up date - $100 up..lol....not a trading guru obviously yet)
The other thing is being patient enough to try and time the entry point of a stock based on a few simple rules like RSI pointing up and moving averages crossing etc (using incredible charts free software at the moment so to be honest not sure if its the best way to go but at least better than throwing a dart). Alot to learn here but I think KISS is a good principle to start out.
Exit strategy is still weak - some rules need to be firmed up on this - always learning and trying to understand the point at which to sell is a challenge.
The trading library is fantastic and inspirational for newbies like me who need some pointers - I read it often and appreciate the intellectual capital that's gone in to it - best educational reading available imho.
All the best to all for the festive season and good hunting next year.
