what is your trading story?, page-16

I've been trading for over twenty years and like most of you,the early years cost me!! As they say you always learn from your mistakes....

So the first lesson was get rid the broker I was using at the time...Everything he told me to buy, failed!..... Cost me some big bucks....So decided to walk away from trading for a couple of years.Then a friend of my dad's who has made a very successful living out of investing mainly mining companies..
Put me on the right course I learnt so much from him and can't thank him enough, as that was turning point. Since then made some very nice profits.But learning from my first mistake, needed to understand how to manage my capital.... So I enrolled in a few course's focusing on money management and how to protect my capital...

The years after that I got really interested in chart analysis understanding technical indicators the works... So I decided to enroll in some courses which have proven to be a life saver...So anyway have put myself in a good financial position...That's my story..

For those who are new to investing/trading or looking to get into the market... Here's some tips that have worked very well for me....

1- Never use a broker IMO more times than not they will lose you money they do not have your best interest at hand IMO and are only looking for a commission...

2- If your going to trade I urge you to either do a course or watch some tutorials on you tube! You need to understand what your up against... You be against some very experienced traders who have years of knowledge...

3-If your looking to enter a stock get to understand its price movement it trading pattern, its a living thing, fueled by emotions understand how that can work in your favor!

4- Always protect your capital!! I can't stress this enough I have read post from time to time where some have investors have all there money invested... That's crazy, the market is full of surprises and can rear it ugly head very fast!! Some investors think you need to invest large amount of capital to make money, if your going for the get rich quick approach I'll tell you now you will you lose all your money!! There is more downside risk than upside..

For example... If you have 60k you are looking at investing... Only invest a Q (15k) so if you get caught on the wrong side of the trade... You can stop out or you can wait for trend reversal/ signal buy more average down and wait for upside movement.. You can't do that if you've committed all your money into the market...

Best of luck... have a good x-mas break...