Hi all, I’m pretty much an absolute beginner at trading and was wondering if anyone had any tips on what I should be learning first? I only started 2 weeks ago and I’m very committed to learning. I’ve been learning about technical analysis, risk management, entry triggers, etc etc but all the info I’m reading/watching can be overwhelming. Like what should I learn first? I should focus on technical analysis or fundamental analysis? Or should I look for what broker and software to use? Should I learn how use all the tools to read charts properly? Or maybe risk management and setting stops? Should I pay for a beginners course and if so what one? Is there a way I can go back and study losing trades to see where I went wrong or pages on this forum where people talk about their mistakes? I’m looking to structure my learning better so I can get a fundamentally solid strategy and I’m not just picking up little bits here and there and wasting a lot of time and money trying to learn things I don’t understand yet. I’ve started trading penny stocks with a very small amount of capital (which I know I’ll lose but I’m looking at it as a tuition fee) so I can get the practice I need. I’m wanting to get the most out of it and learn the maximum I can from it. Any help here will be greatly appreciated, thanks!
You can do paper trading, a very good way to get your feet wet without getting hurt. So maybe you should look into getting a broker (that has paper trading).
I am relatively new to investing as well. I think I have been doing this for 6-months now? 4 months of which I was actively trading and making money, then 2 months of sitting on the sidelines watching. The way I have been learning is the "kitchen sink," method. Which to me just means pulling information from as many sources as possible. I watch YouTube for the StockMarket Live shows, I occasionally will watch stock market/business news media on TV, and then discussing on the internet although this forum really does not have many active users but the ones who do post usually have insightful knowledge. I still have no dived into "option's trading," yet and do not understand how all that exactly works. I am big into statistical analysis so when I started I really wanted to understand the different "measuring" tools out there... The internet will be your friend, lots of information available. When I am researching a specific stock, I like to use Yahoo! Finance Learning the basics of how to read stock charts and the different "patterns" is another biggie. Ive also begun growing fond of companies that offer dividends and staying the hell away from Pharmaceutical companies. I am sure many would agree that Pharma Stocks are like lotto tickets.
+1 on the paper trading suggestion above. That's a good way to practice trading and be confident with your calls once you go to the real thing. There are different trading methods that you can try with just starting small. One thing that I'm watching out for $BTCS's data analytics platform that can let users connect different exchanges, this helps you understand risks a lot better. (Though IDK when it's going live)
