First of all, I would like to congratulate you! If you’re asking such a question, you’re already one step closer to learning how to trade successfully. As a trader who has been trading for a long time in the trading area, I can share what exactly helped me when I was a beginner.
Here’s how I would start if I were you:
The first rule is that you never have to rush with real money. The problem of many beginners is that they’re chasing quick profits and diving into real trading without having any basic knowledge or foundation. For example, you could start with a demo account to get used to market behaviour, to learn how candles work and what their figures look like, what patterns you can identify. It’s better to spend weeks on a demo account before ever thinking about depositing real money.
Next rule, just focus only on 1 or 2 assets, maybe Nvidia stock or EUR/USD, instead of trying to trade everything. Learn how these assets move in real market conditions, how they react to new, and at what time the volatility spikes, that’s how you will be able to predict their movements.
Also, pick only one strategy and stick to it until you master it perfectly. The simplest strategy for beginners is the RSI indicator, which you can read more about in my blog. Just scroll through my posts, and you will find where I shared detailed explanations of how beginners can take advantage of it in real practice. Of course, you won’t win every trade, but you will learn faster from your losses and mistakes.
And last but not least, RISK MANAGEMENT! Never invest your full deposit into one trade! Even if your trades are starting to work, never increase the amount of investments emotionally!
At the end of the day, be ready to pay serious attention to this case if you want to become a successful trader.
Everything written here is not financial advice!
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