5 Must Read Tips For New Traders to Succeed

Discussion in 'Educational Resources' started by ShortSqueeze77, Apr 20, 2009.

  1. As the stock market has continued to plummet, many hard working taxpayers have seen their 401Ks evaporate, had their homes foreclosed, and their life savings disappear. Stock brokers have always encouraged a buy and hold strategy to make money in the markets, but passive investment in the financial markets is a disaster waiting to happen. Become an active stock trader and take control of your money.

    Here’s 5 must read tips on how to become a successful stock trader:

    1. Learn How to trade stocks online and understand the stock market.
    The biggest mistake many people make when putting money in the markets is beginning without proper education. Training allows you to take control of your own trading and consistently make money in any market. Whether it is a bear market or a bull market, you can make money if you understand how and what makes the market move, what stocks to trade and how to trade stocks. From the basics of the stock market to advanced day trading strategies, the T3Live.com online training courses prepare you to trade like a the pro. Watch videos, take quizzes, and complete assignments to master the many aspects of trading.

    2. Learn different day trading strategies.
    Once you have learned about how the stock market functions and how to trade the right stocks, your education is not complete. Pay close attention to the market and how different stocks react. Technical analysis provides the basis for day trading. Using technical analysis, analyze stock charts of different stocks to predict where a stock is likely headed. T3Live.com supplies several different ways for you to master the art of technical analysis. Advanced training videos detail different factors used in technical analysis.

    3. Follow the stock market.
    Once you have learned the basics of the stock market and how to trade stocks, follow the stock market as if you were a day trader. Keep track of only a few stocks as well as the overall market and perform analysis. To trade stocks consistently well it is important to always stay in touch with what the market is doing and which stocks are most active and best to trade. Before putting your own hard-earned cash on the line, make sure you are fully prepared. Pay attention to what the stocks trends are saying and whether there is sufficient volume in trading. T3Live.com offers several LIVE videos throughout the trading day to help novice and experienced investors keep up with the action. Stock trading online requires constant attention to be paid to the stock market, and the live and on-demand videos at T3Live.com provide more than enough analysis for you to stay informed.

    4. Select a few stocks to trade at low volume initially.
    Another mistake some stock traders make is to jump right into the action as soon as their investor education is complete. Trading stocks online provides several challenges that cannot be overcome by simply learning the principles of stock trading. Before attempting to trade a large number of stocks with significant capital, pick 2 or 3 stocks which you will closely monitor and trade at a low number of shares. Tracking only a few stocks and trading at a low volume allows you to maximize your ongoing stock trading education while limiting possible losses at the early stage. T3Live.com’s live and on-demand videos tell you what stocks you should potentially begin to trade and how to trade them. Once you feel comfortable trading stocks at low volume, you may then being to really enter the fray.

    5. Make money consistently in any market trading alongside professionals.
    Continue to pay close attention to the stock market and a limited number of stocks. No matter your experience as a day trader, it is not prudent to trade more then a handful of stocks at once. T3Live.com allows anyone to trade with the pros everyday. The virtual trading floor at T3Live.com provides the opportunity for you to feel like you are on the trading floor. See what the top traders on Wall Street are saying, what stocks they are trading and what positions they are currently in—all LIVE! While it is important to craft your own trading strategy, having hands on guidance from successful traders makes it almost impossible to fail. The virtual trading floor includes live online podcasts, live chats with several different traders and live images of what these top traders are doing.

    Don’t let a bear market stop you from making money. Take control of your money and become an active trader with T3Live.com. With numerous appearances on CNBC, Fox Business and Bloomberg, the traders at T3Live.com are the most consistently profitable team on Wall Street.

    For a free trial, go to www.T3Live.com or contact info@t3live.com.
  2. mxjones


    Wow. So insightful.

    What next - you going to tell me the sky is blue?

  3. Corelio


    I would add #6:
    6) Do the exact opposite of what EliteTraders are excited about, and stay as far away from websites that advertise consistent profitable results.

  4. I totally agree with the "stay away from sites that promise consistent results." You could have 10 traders same the chart of a stock going higher and some will make money and some won't. The difference is in education.

    Join sites that promote education and sites where there is accountability not ones that promote one strategy that is the "holy grail."

    The problem with many online stock education sites is that they are educators. Stick with sites of people who are real traders and who you can communicate with. The proof is in the pudding.
  5. LOL, whatta load of bullshite, eh? :p :eek: :D
  6. soltron45


    It's not about learning every set up known, it's all about learning a couple of setups (1 or 2) that one has tested over and over again. So many people end up on an endless journey trying to find the perfect setup that when a good one pops up it's thrown in the crap pile before the setup has yet to prove itself.

    People have to learn to trust what ever strategy they use, instead of dropping it at the first sign of trouble.
  7. Yes, know how YOUR strategy will perform under different conditions.