HOW TO START TRADING AS A BEGINNER - Free Guide
Published: 2024-09-30
Status:
Available
|
Analyzed
Published: 2024-09-30
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
New traders should not expect quick profits and are likely to experience significant losses in their first year of trading.
"There will be no quick profits in trading. Even if you do, by mistake you make profits in the first month, second month, third month. They should not last long. You will incur major losses in the first year."
Pending
The speaker differentiates trading from investment, implying distinct strategies and outcomes for each.
"trading is different and investment is different"
Pending
To make money in trading, an initial investment is required, and it's not possible to trade effectively with zero capital.
"if you want to earn money in trading, you will also have to invest money. It's not like once you invest $0,000, it's there."
Pending
It is recommended to gain 1-2 years of experience before making significant decisions like quitting a job to trade.
"Gain a year or two of experience, and then see."
Pending
Even experienced traders can experience their capital becoming zero at some point.
"your capital will become zero at some point or the other, no matter how much you work on psychology, how much you learn trading, what happens is that with time, with experience, you get better and you don't let it become zero, but sometimes it becomes zero"
Pending
The speaker suggests a minimum savings amount (represented by '0,000', '1,000,000', '0,000', and '2,000') is needed to start trading, with flexibility in the amount.
"you need to save at least ₹0,000. If you want to start with ₹1,000,000, you can definitely do it. If you want to start with ₹0,000, you can definitely do it. If you want to start with ₹2,000, you can definitely do it."
Pending
Under 18s may lack the necessary money psychology and maturity for trading due to not having earned money themselves.
"you have n't yet developed that psychology and that maturity, especially with money. Because you have n't earned any money yet, so that psychology, which is money psychology, doesn't develop properly."
Pending
Paper trading is defined as practicing trading with virtual money.
"paper trading means trading with fake money"
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Paper trading can provide valuable experience in understanding market dynamics and chart movements.
"You can gain market experience through paper trading, how the market works, how the chart goes up, how the chart goes down."
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Traders should exclusively use candlestick charts and avoid trading with line charts.
"If you see such a chart, you should not trade there. You should always use only the candlestick chart."
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A 4-hour price action trading course will be released the day after this video.
"I'm going to record a 4-hour continuous price action trading course for you, just after the exact moment of this video. As soon as this video is released, that video will be released the next day."
Pending
A recommended learning sequence for trading education is: candlestick trading, then chart patterns, followed by intraday or options trading.
"First, you have to go to the candlestick trading course. After completing the candlestick trading course, you have to go to the chart pattern trading course. Once that is complete, you can trade in both intraday and options. You can do any one of these. First, take the candlestick trading course, then the chart pattern trading course, then the options trading course or the intraday trading course."
Pending
Learning trading can lead to significant success.
"if you learn trading, it can definitely take you to the top."
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The speaker incurred a loan of 2-4 lakh rupees by the age of 18 due to trading losses.
"I was in a loan of ₹2 to ₹4 lakh. And that too at the age of 18. ... I was already sitting on a loan that I had lost in trading."
Pending
Dedicated six months to studying trading before re-entering the market led to current success.
"For six months, I just studied and that's it. When I returned to the market the next time after studying, you know what's happened today."
Pending
Major losses are predicted in the first year of trading, with quick profits being unsustainable.
"There will be no quick profits in trading. Even if you do, by mistake you make profits in the first month, second month, third month. They should not last long. You will incur major losses in the first year."
Pending
Trading income is unpredictable and inconsistent; an active income source is necessary to support oneself if trading fails in the initial months.
"Trading may give you a lot of money this month, but it might take money away instead of giving you money next month. And there could be zero profit or zero loss in the third month. Therefore, you should have an active income so that if trading doesn't work for me in the first month, or in the second month, or in the third month, I still have income that can support my livelihood."
Pending
It is predicted that trading capital will eventually become zero, regardless of skill or psychological preparation.
"Your capital will become zero at some point or the other, no matter how much you work on psychology, how much you learn trading."
Pending
After significant trading losses, a six-month period dedicated solely to learning is recommended before returning to the market.
"I lost two to four lakhs. Then I took six months. What did I do for six months? I just focused on learning."
Pending
Learning trading is crucial for success; entering the market without proper education will likely lead to failure and serve as a cautionary tale.
"If you learn trading, it can definitely take you to the top. But if you enter the market without learning trading, you will become an example for others as to why you should not trade."
Pending