3 Things I Wish I Knew When I Started Trading

3 Things I Wish I Knew When I Started Trading

3 Things I Wish I Knew When I Started Trading 1024 546 Steven Dux

WELCOME BACK.

Today we talk about several topics that will benefit beginners looking to get serious in the stock market.

Whether it’s what to do, what to avoid, and things that I wish I had known when going into this industry. I get asked frequently about which broker I use, and it comes down to whether you have enough shares to go long or short because you want to have both options.

WHEN STARTING UP

IN THE BEGINNING

As a beginner, I didn’t have the option to short, so I went with Interactive Broker…

…which has good execution but hardly any shares to short on low-float stocks that are incredibly active in intraday. After increasing my profits by dip-buying high market caps and buying OTC breakouts, I moved onto CenterPoint, Trade Zero, Cobra, and SpeedTrader. Each of these brokers have their benefits and enough shares to short, so you have the option of going either way.

But as I started, shorting was the only thing on my mind even though I didn’t have the shares to do so. With this mindset, I went long on stocks that were clearly shorts because I didn’t want to miss an opportunity, and because of that greed, I took a loss. That’s one of the very first mistakes a lot of people, including myself, make.

There are many kinds of platforms out there, such as Equity Feed, Stocks to Trade, and E-Trade Pro, but what matters is which looks the best to you.

KNOWING YOUR APPROACH

IN THE MARKET

So the next thing is how to get started when you don’t know how to approach the market.

When I began, I took to YouTube and Google as excellent, free resources to learn what market cap, low-float, float rotation, and company fundaments were all about. Once you have a concept, now you can start subscribing to courses to further your understanding. Unfortunately, like most things, you’ll run into scams, but you need to figure out what you believe in because there are honest, direct people out there that are just trying to help, like myself and my courses.

When you’re in high school, you may be learning material that you don’t think benefits you and your career path, and you can find yourself in the same position as you’re searching for a mentor. You will know if the material you’re following is useful in your heart, and this research will help you discover the right path for you in the stock market. With these courses comes the necessary books needed to further your knowledge.

One of my recommendations is the Psychology of Trading,

…which teaches you how to manipulate people in the market because human moves make candles and stocks fluctuate. Once you can figure out the majority of people and what they are thinking, psychology can counter and make profits off of the 90% of people who don’t know what you do.

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