5 Tips & Important points for NEW TRADERS.

5 Tips for NEW TRADERS.

  1. Treat trading like a business.

Always keep in mind while you are trading that it’s not gambling and see trading as a business and make it.

new traders

2. Trading is not a get-rich-quick scheme

Many individuals consider trading to be a speedy rich plan yet in the event that you consider trading to be a fast rich plan, you will wind up making a misfortune so be proficient while trading.

3. Practice every day

As we know practice is a key to success in any field, you have to do continuous practice as practice makes perfect for a person.

If you are a new trader or old trader you need to practice every day to build self-confidence.

new traders

4. Find a trading community/mentor

Find a trading community/mentor who helps you in many different ways like motivating you giving you the right advice for trading and keeping you in a good environment that helps you to take the right decision.

new traders

5. Take it slowly and have patience

New traders as well as old traders, while you are trading, keep patience and don’t make decisions too quickly believe in your trading strategy and chart.

Why you should Start Trading.

  • WORK ANYWHERE ANYTIME

You can trade anywhere anytime if the Indian stock market is close then you can trade in cryptocurrency which used to be open 24*7.

  • DO IT AS A SIDE-HUSTLE OR JOB

A job or occupation that brings in extra money beyond one’s regular job and main source of income.

  • NOT WORKING FOR A BOSS

You are free in trading no one will give you an order to do any work you are boss of your own you don’t have to ask for leave from work take decision according to your comfort.

  • LEARN RISK MANAGEMENT

Risk analysis and risk management is a process that allows individual risk events and overall risk to be understood and managed proactively, optimizing success by minimizing threats and maximizing opportunities and outcomes.

  • LEARN TO BE MORE DISCIPLINED

If you are a new trader or old Self-control is simply the capacity to push forward, remain roused, and make a move, paying little mind to how you’re feeling, actually or inwardly. … Inspiration and resolve add to it, as does constancy, the capacity to finish with your goals, and difficult work.

  • GET PAID BASED ON PERFORMANCE

You get here profit based on your performance, trading strategy, decision, and all your experience in trading.

  • TRADING CAN RESULT IN HUGE REWARD

If you know the skill of trading well it can be helpful for you and give you a handsome return.

new traders
new traders
new traders
new traders

BEST TIME FRAMES NEW TRADERS MUST KNOW

  • 1 MIN – FOR SCALPING
  • 5 MIN – SCALPING AND INTRADAY
  • 15 MIN – INTRADAY
  • 1 HOUR – INTRADAY & SWING BOTH
  • 1 DAY – FOR SWING
  • 1 WEEK – SWING & LONG TERM
  • 1 MONTH – LONG-TERM INVESTMENT

TYPES OF TRENDS NEW TRADERS MUST KNOW.

There are three types of trends given below:-

  1. UPTREND
  2. DOWNTREND
  3. SIDEWAYS
NEW TRADERS MUST KNOW THIS OPTION TERMINOLOGY.

Strike Price- The price you are “betting” the stock to go to. If the stock is not at this price by expiration, the contract expires worthless.

Bid- The highest price a buyer is willing to buy at.

Ask- The lowest price a seller is willing to sell at.

Expiration Date- The day that the expiration expires and can no longer be bought or sold.

Greeks- The factors that go into how options contracts move relative to the stock price, volatility, and time.

Open Interest- The total amount of “open” contracts. These are contracts that have positions still open and yet to be closed.

Call Option- An option where you want the stock price to increase to make money.

Put Option- An option where you want the stock price to decrease to make money.

BEST TIME TO AVOID TRADING BOTH FOR NEW TRADERS/OLD TRADERS

new traders

AFTER A STRING OF LOSSES. TRY FOLLOWING THE 3X AND OUT RULE!

new traders

IN MARKET CONDITIONS THAT DON’T ALLOW YOUR SPECIFIC STRATEGY TO BE APPLIED.

new traders

WHEN YOU’RE TIRED, ANGRY, ANTSY, OR UPSET. EMOTIONAL TRADING IS DISASTROUS!

PSYCHOLOGY TIPS SPECIALLY FOR NEW TRADERS

UNDERSTAND THAT THERE IS ALWAYS MORE OPPORTUNITY.
THIS MINDSET HELPS YOU ACCEPT A LOSS.

TRY TO FOCUS ON PROGRESS IN PERCENTAGES RATHER
THEN INR/DOLLAR AMOUNTS.

CLEAN UP AND ORGANIZE YOUR CHARTS. INDICATORS AND
UNNECESSARY LINES CREATE MENTAL CLUTTER

DO NOT RELY ON TRADING AS YOUR MAIN SOURCE OF
INCOME UNTIL YOU HAVE A PROVEN TRACK RECORD OF
CONSISTENT RETURNS.

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