Best Advice or course for a new Trader to get started !

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hello BHW,

I'm trying to learn the technical and fundamental aspects of trading like reading charts, strategies, indicators, Risk to Reward, and other cool stuff.


I'm following 2-3 well-known traders and learning their strategies but I have some problem for choosing the right guy to learn from cuz every trader has a different approach and strategies for their trading plan and I'm confused about how do I get started ??

I want to be swing or day trader cuz scalping trading is a little trickier and tough and I can't sit on computer screen for 8-12 hours a day to make a small profit out of each trade.

Currently, I'm looking forward to learn price action trading which is better than hundreds of indicators in my perspective Can you guys suggest the best and practical course which should I get into ??

And what's the best advice from you guys who want to get into trading ?
 

aaazz97

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Learn to read japanese candles, to draw supports, resistances, and trend lines. Then find an indicator you're confortable with. Find other(s) indicator you will use to filter your signals.
Personnaly I use ichimoku with pivot points and RSI
 
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Learn to read japanese candles, to draw supports, resistances, and trend lines. Then find an indicator you're confortable with. Find other(s) indicator you will use to filter your signals.
Personnaly I use ichimoku with pivot points and RSI
i heard that ichimoku is little hard to learn and read
 

onlinemarketer12

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I think the most important learning in trading comes from practice only . You can also practice on demo accounts with virtual cash.
 

vocotnhan

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Search on you Wysetrade , I think they share some good info about trendline, price action, momentum,...
 

Sebastiann

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I worked as a broker and in M&A for around 15 years, and these are the top things I can say about "trading".

1. Anyone trying to sell you that chart patterns can tell the future is selling you garbage and a scam. When you look past the sales pitch and think about it rationally, you will see why. Although I will admit to analysing charts before a trade, I would never give it more than 15% of the rationale for the investment. The only thing it's good for is timing an entry, the majority of the success of a trade is going to be down to how well you have understood the fundamentals and drivers of the company (or asset) and how that relates to the macro.

2. I'm assuming from the phrasing you're not looking for a long term sane strategy, and instead, looking for quick wins. If you're going to buy stocks, get your leverage from small companies as they are far easier to analyse - investment banks dedicate entire desks to covering single large caps, as they have a huge amount of moving parts that makes it generally too hard for a single investor to properly stay across. Small and microcap companies are far more like a "business" as most people would typically think about it. They have relatively few moving parts and mostly you can consider your analysis as if you were analysing a small local business that you wanted to buy from an owner. The only real difference between a large SMB and a microcap is that the listed entity has the ability to tap the public market for capital, meaning it can make market-cap accretive acquisitions far more easily than a private company. For it to make sense, you need to be able to see that any cash burn has a very tangible end date and that it will be able to grow rapidly after hitting breakeven. Mostly I wouldn't even touch things pre-breakeven if they are listed, but if you get it right, there is a big inflexion point when that happens.

3. If you're going to trade large caps, learn Options (ETOs) back to front. It's a long and painful journey to truly understand the mathematics behind them in a way you can "see" the return profile of combination without having to put it into a Payoff Diagram, but once you master Options, you can construct some very very cool 3 - 4 legged trades, compared to just trying to trade to underlying with leverage.

3. Figure out a way to get access to restricted deals (see: https://en.wikipedia.org/wiki/Accredited_investor#United_States) naturally if you're at this stage you probably don't meet the asset tests but if you read those exceptions, and think creatively you can find ways around it. For these, I don't mean the deals that end up on "venture crowdfunding" websites - that channel of capital raising is typically a last resort, and anything on there will be junk or just wont have the return profile you will want. Research and understand how convertible notes work, and try to connect with someone that has access to a pipeline of deals that are heading to a small listing. A well-structured deal should look something like: "5-6x multiplier on capital taken as scrip at listing, with a 10% interest rate and cash back payable if a listing doesn't occur within 18 months". Make sure it's structured as debt so if the company doesn't list and can't pay back the money, the investors can call their notes and take ownership of the company. If it comes off you can convert $100k into $500k in a very short period of time, and if the stock then double upon listing, you can see how things can get exciting. The main thing you want to make sure of is that all seed (ie you and everyone else in on the notes) is escrowed for a long period of time, and corporate advisor is confident he can broke the seed parcels out to an institutional buyer off-market when that happens. Otherwise... picture rats off a ship and watch the share price collapse as all the seed holders try to cash out their $400k of free equity into the screen all at once... not a fun time.
 
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I worked as a broker and in M&A for around 15 years, and these are the top things I can say about "trading".

1. Anyone trying to sell you that chart patterns can tell the future is selling you garbage and a scam. When you look past the sales pitch and think about it rationally, you will see why. Although I will admit to analysing charts before a trade, I would never give it more than 15% of the rationale for the investment. The only thing it's good for is timing an entry, the majority of the success of a trade is going to be down to how well you have understood the fundamentals and drivers of the company (or asset) and how that relates to the macro.

2. I'm assuming from the phrasing you're not looking for a long term sane strategy, and instead, looking for quick wins. If you're going to buy stocks, get your leverage from small companies as they are far easier to analyse - investment banks dedicate entire desks to covering single large caps, as they have a huge amount of moving parts that makes it generally too hard for a single investor to properly stay across. Small and microcap companies are far more like a "business" as most people would typically think about it. They have relatively few moving parts and mostly you can consider your analysis as if you were analysing a small local business that you wanted to buy from an owner. The only real difference between a large SMB and a microcap is that the listed entity has the ability to tap the public market for capital, meaning it can make market-cap accretive acquisitions far more easily than a private company. For it to make sense, you need to be able to see that any cash burn has a very tangible end date and that it will be able to grow rapidly after hitting breakeven. Mostly I wouldn't even touch things pre-breakeven if they are listed, but if you get it right, there is a big inflexion point when that happens.

3. If you're going to trade large caps, learn Options (ETOs) back to front. It's a long and painful journey to truly understand the mathematics behind them in a way you can "see" the return profile of combination without having to put it into a Payoff Diagram, but once you master Options, you can construct some very very cool 3 - 4 legged trades, compared to just trying to trade to underlying with leverage.

3. Figure out a way to get access to restricted deals (see: https://en.wikipedia.org/wiki/Accredited_investor#United_States) naturally if you're at this stage you probably don't meet the asset tests but if you read those exceptions, and think creatively you can find ways around it. For these, I don't mean the deals that end up on "venture crowdfunding" websites - that channel of capital raising is typically a last resort, and anything on there will be junk or just wont have the return profile you will want. Research and understand how convertible notes work, and try to connect with someone that has access to a pipeline of deals that are heading to a small listing. A well-structured deal should look something like: "5-6x multiplier on capital taken as scrip at listing, with a 10% interest rate and cash back payable if a listing doesn't occur within 18 months". Make sure it's structured as debt so if the company doesn't list and can't pay back the money, the investors can call their notes and take ownership of the company. If it comes off you can convert $100k into $500k in a very short period of time, and if the stock then double upon listing, you can see how things can get exciting. The main thing you want to make sure of is that all seed (ie you and everyone else in on the notes) is escrowed for a long period of time, and corporate advisor is confident he can broke the seed parcels out to an institutional buyer off-market when that happens. Otherwise... picture rats off a ship and watch the share price collapse as all the seed holders try to cash out their $400k of free equity into the screen all at once... not a fun time.
thanks for giving too much I'm beginner so i didn't catch what you really want to say i have pm you personally would love to connect with you
 

Nut-Nights

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I am a trader too. Just two pieces of advice, book your losses early. Don't get emotional.
 

yherrliche

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Don't go on youtube, don't do shit, don't follow idiots.
Do what @Sebastiann said.

Technical indicators are just a tool, noone know where the stock or the market is going. But you can do a few things to help your odds, the goal is to avoid yourself from picking the most unlucky pick :
  1. Get an investment account from your bank, and request to receive their daily analysts reports.
  2. Now you have the stocks your bank analysts recommend, now try to buy them at the lowest price possible.
  3. Sell when it reaches your trade objective.
  4. Profit and repeat
Don't try to do too much, and when its down a little, don't touch it and breathe. You'll do fine.
 
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