A guideline of how to make it as a trader as a profession. It will take hard work and patience in your journey.
Step 1. definitely start studying anything and everything about the market. The more you learn the more you will find you don’t know. The market is every changing and you have to adapt as the market changes.
Step 2. try to find a program or mentor that you mesh with that will keep you motivated along your journey. There are many out there. Make sure whomever you choose that they don’t boast a guarantee of their product to make you profit. Everyone learns differently and everyone has to find a strategy that works for them.
Step 3. Determine how much time you can honestly devote to trading. This might be something you will be doing part time to start as you are still working you 9 to 5 job.
Step 4. Once you know who you want to work with and how much you can devote then study up, and start your paper trading. I highly recommend paper trading to find your strategy. It is much easy to pay $30 a month to practice than lose your hard earned money. Remember that if you need to paper trade for a year that is roughly $360 versus thousands you could lose in your first account (I speak from experience on this one…I blew through a $6k account in a couple months not knowing)
Step 5 Once you have consistency and confidence in your personal fingerprint strategy. It is time to open your trading account. Depending on where you are in the world there are different brokers that you can use.
Step 6. Journal you trades from the moment that you begin trading a free site is Profitly
In trading you are not in competition with anyone else. Everyone learns at a different pace and your goal is to be profitable. Trading the right setups at the right time will help you be profitable. The more you keep track of your trades and your emotions in entering the trade and exiting the trade you will understand your trading pyschology. You are your own worst enemy in trading.
Step 7. Continue to grow in your trading. As your real money profits begin growing remember there are 4 outcomes: Big Wins, Small Wins, Small Losses and Big Losses. If you simply get rid of big losses and learn to let the Wins grow then you should be able to continue growing your account.
When you mess up know it is part of the trading journery and use it as a learning experience. If you need to step away from trading and don’t take it out on the market. Trade with a clear head.
This blog is for information purposes. We are not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
Credits:- This blog was written by Airplane Jane. To know more about her visit https://seejanetrade.com/