Newbie trader's biggest challenges

Hello All,

I am doing some market research to find out common problems people face when they first start trading.

So what was (or is) the biggest problem you faced as a newbie trader and what would have solved the problem for you?

For me, biggest problem was to figure out what to focus my learning on...there was just so much around - instruments...timeframes...styles etc. Would have helped if someone could have guided in a progression..

Any help is much appreciated.

Thanks,
Rahul

 

do not come here. first suggestion
do not come here. second suggestion

principle one:
buy low and sell high; sell high and buy low

principle two:
buy low and sell high;sell high and buy low

principle three:
donot take suggestions from any one,like me. think independently, act responsiblily. bear in mind, it is your money at stake

my 11yrsboy can trade, why you can not?

 

Mindset.

 

You have to be willing to learn everything, about everything, and then discard what is no good. You won't be able to identify what's best for you while trying to avoid the irrelevant.

 

+1

Absolutely everything with a lot of research and backtesting.

 

I tell new guys to "slow down and read and do research " .
Stop trying to blow your account in one day.
Like anything you need to have some research, a bit of good luck and really know the software well.

I have been trading small but small and steady wins the race. just my opinion..

 

I am conducting some market research also. How does someone join a site like this NINE YEARS ago, post only four times, and keep track of a user name and/or password for that long?

 

#1 Surviving Jack Hershey

 

The more you can discard, and the more you can focus on what does show promise, the sooner you'll have a working method. (not you per say, the collective "you")

There is just sooo much that needs to be peeled and thrown away. Just takes a lot of time. Unfortunately, our most precious commodity.

 

One thing I can recommend is taking extremely accurate notes when evaluating a trading vehicle. Go in depth into thought processes, times of day, exact prices etc etc. Almost like keeping a diary. While creating a system, it's vital to keep accurate records so that you can go back and reference things or compare situations. The more accurate the details, the easier it will be to either discard something as inconsistent or validate something as "showing promise". Over time, these notes should pay off. That's how I approached things, anyways.