How to become a successful trader
(for beginners) ๐งต
(for beginners) ๐งต
1. We need adequate funds to begin our trading journey. If you don't have enough funds, my suggestion would be to borrow money from relatives or close friends. In the long run you will realise that your relationship will only grow stronger.
2. To understand what trading is all about, it is necessary to learn from experts. There are many successful traders, who have almost stopped trading & have made it their life mission to teach beginners through workshops & telegram channels. Learn from them.
3. Leverage is a must. If you are not able to trade with atleast 5x leverage, then sorry to say owning that supercar is going to remain a distant dream.
4. Consistency is not at all important, as some might advocate. Wait for that one trade that will win it all back & much more. Double down, triple down if you have to. That's where distant relatives come into play for borrowing extra dough.
5. Conviction on the other hand is very important. If you know where the market is headed, then go all in. Use the opportunity; don't hold yourself back. This is the ultimate difference between winners and losers.
6. Astronomy works. It's science actually. To perfectly time the markets, you just have to know which planet the market is synchronised with. It is that easy. So invest your spare time in understanding moon & planet cycles. Join a course if you have to.
7. If you just want safe & easy returns, option selling might be the right field. There's a thing called Theta in options, which is your friend. It is willing to give you 5% pm returns which might sound conservative, but in the long run you might be able to do something about it.
8. If you are really ambitious & want to make it big that too quickly, then option buying is for you. It is where dreams become reality. The social media influencers know the secret behind it, which ultimately funds their luxurious lifestyle.
9. Always compare with others. It is the only way you'll not be content with your returns. There are many good traders on Twitter who post regular MTMs. Follow them & see how they are winning on daily basis. Usually they have some link in their profile. Click on it to learn more.
10. Blame the markets if necessary. If you are doing everything as that YouTuber told you to, then it is the market that is at fault for your losses. It's ok, markets can't be efficient all the time. But ultimately they are rewarding, so you have to be patient enough.
11. After working so hard it is important to celebrate your wins. Take that profit immediately after holding your losers for so long & buy that latest smartphone. You only live once.
12. Start algo trading asap. It will allow you to continue your indisciplined lifestyle while staying disciplined in trading. It will also help to remove emotions from trading & also from your soul. You'll literally feel nothing when in loss but ecstatic when in profit.
This quick read might give you some perspective about the markets. It's at the end your own journey & you are learning each passing day. You can also become a successful trader, but only if you have the determination to โฟแตแต follow the above steps.
Loading suggestions...