Read on Twitter
How can clicking on a mouse button make you money?
Well, it is possible with Trading.
Most people enter the world of trading without having any proper knowledge.
If you are one of them, this thread is for you.
Here are 4 things you need to know before getting into trading.
Well, it is possible with Trading.
Most people enter the world of trading without having any proper knowledge.
If you are one of them, this thread is for you.
Here are 4 things you need to know before getting into trading.
1. The process is more important than the results.
Only a few people can make profits on a consistent basis.
If you started making profits, you just experienced âbeginner's luckââ.
Be careful with such wins because they can make you overconfident.
Only a few people can make profits on a consistent basis.
If you started making profits, you just experienced âbeginner's luckââ.
Be careful with such wins because they can make you overconfident.
Your goal is to not make a one-time profit buy a steady stream of profits.
Have a proper plan and repeat the process on a regular basis.
Have a proper plan and repeat the process on a regular basis.
2. You donât need to trade daily.
Day trading doesn't mean daily trading.
The more you trade the higher the chances of losing money
Don't get caught up in the spiral of daily trading.
Donât force a trade, if the conditions are not matching your trading plans
Day trading doesn't mean daily trading.
The more you trade the higher the chances of losing money
Don't get caught up in the spiral of daily trading.
Donât force a trade, if the conditions are not matching your trading plans
3. You are not a market expert.
Most people, after a few winning trades, think they now belong to the expert category.
The market is to complex to understand, at any given point of time.
The market will not miss a chance to humble you.
Most people, after a few winning trades, think they now belong to the expert category.
The market is to complex to understand, at any given point of time.
The market will not miss a chance to humble you.
4. The market doesn't care about how smart you are.
It doesn't care about your fancy degree or any achievements.
Each trade needs to be approached with a fresh mindset.
Treat every loss as a lesson and make sure to never repeat it again.
It doesn't care about your fancy degree or any achievements.
Each trade needs to be approached with a fresh mindset.
Treat every loss as a lesson and make sure to never repeat it again.
Bonus: Maintain a trading journal
Itâs is really important for a newbie to maintain a trade log.
This will help you to analyze your trades and mistakes during the weekend, so you can prepare better for the upcoming week
Itâs is really important for a newbie to maintain a trade log.
This will help you to analyze your trades and mistakes during the weekend, so you can prepare better for the upcoming week
PS: A great resource to learn the fundamentals about the market is Zerodha Varsity
It is free and written in a very easy to understand language. https://zerodha.com/varsity/
It is free and written in a very easy to understand language. https://zerodha.com/varsity/
If you liked the thread, do consider liking and RTâing it.
I would appreciate it if you gave me a follow.
I would appreciate it if you gave me a follow.
