First, decide what you want
Don't start until you have defined your goal. Yes, everyone comes to trading with the goal of making money, but in order to understand how much money, time and effort you need, it is worth clearly approving a plan. There can be several options: you can simply invest your savings and keep it as an investment, you want to try your hand at trading, or you can get serious about trading and make it your source of income. The more clearly you define the goal and the timeframe for achieving it, the easier and faster you can get results.
Explore markets and their instruments
All markets have different rules for conducting transactions, trading hours, and a set of trading instruments. Before you start working, you should decide what suits you best: it can be futures, stocks, currency or crypto market.
The broker will help beginners to avoid mistakes
Besides acting as an intermediary between the market and you, a broker can also be a great financial mentor, help you reach your goals faster and keep you from making bad decisions.
Don't ignore training
There are a lot of available courses for beginners on the Internet. In addition, brokers themselves often develop training courses for their clients. Do not ignore this opportunity. Start with basic courses that explain terminology and working mechanisms. Remember that training is someone else's experience in an accessible format, which will bring you up to speed and prevent you from getting into trouble that someone else has already done.
Beware of early success
A lot of successful trades at the beginning of a trader's career is hardly unlikely. It is one of those little jokes that the market plays on us - we knock down a few good trades early on and become convinced that we are brilliant players in the market. They say that beginners are lucky, and this applies to trading as much as anything else, so don't get overconfident. Many traders who lost money early in their careers are grateful for that lesson - in retrospect - because it gave them a realistic view of the challenges and risks of trading. But even with experience, it is difficult to cope with the ups and downs that come with winning and losing streaks. A trader experiencing a lucky streak often unnecessarily increases the size of his trade just before a big losing trade. And although it is difficult, try to accept both losses and wins dispassionately.
Be a skeptic
Find validation for every trading idea you are interested in, including those you come up with on your own. Whether it's a trading system, the "right" information or an indicator, anything that promises big money or no risk should be avoided. There are no shortcuts in trading - it is a complex business that many highly educated and successful professionals from other fields find difficult to master. There is no such thing as a trading strategy that succeeds 95% of the time, makes six figures a month, and has no risk of loss.
Practice your knowledge of advanced mechanics
Don't stop at just a "good" result. Learn new strategies, delve into the topic professionally. This will help you gain new experience, make bigger trades and add confidence in your abilities. When you have firmly grasped the base, you can start studying risk management, fundamental or technical analysis, psychology of decision making.
Keep a journal of your profits
It will help you analyze your actions, find mistakes in your strategy in time, and keep track of statistics. In it you can record stock exchange transactions, prices at the time of transactions, profits, current market trends and even the reasons why you made the transaction.
Don't refuse help
ВFrom time to time, it is a good idea to seek advice from an analyst or your personal mentor. Even if you no longer dread every transaction and firmly know what to do. An outside perspective can help you find new ideas, recognize upcoming trends, and identify mistakes that were out of reach of your eye.
Experiment with the strategies
Don't stop, even if you have found a trading methodology that suits you. Expand your professional horizons: try new markets, introduce new trading instruments, trade in different time periods, analyze innovations. This will help to be "in the tone", because in order to find new solutions and implement them in your work. You should always be aware of the current market situation.