5 Things I Wish I Knew Before Starting Trading

Lessons I learned after blowing up my trading account twice!

1. Start Small

I had the same mindset too

The lesson is to Start Small if you are new to trading, don’t come with the mindset of doubling your money in small time.

2. Wishful Thinking

3. Focus on Risk and not on Profit

Trading works against human nature and against human behavior.

4. Stick to one Method

If 50% of trades are profitable, you are still in profit if you follow Risk Reward

5. You don’t have to recover your losses the same day

You can decide which mindset you want to carry to your next trading day

When you make a profit, Do you owe anything to the market? No!

Similarly, when you make a loss, the market doesn’t owe you anything.

The profit you make is because of yourself and you only owe the money you lose to yourself.

6. Bonus Lesson — Knowledge and Experience is the Key

In Stock Market, People with money gain experience and people with experience gain money.

What we don’t see when we see Rich Day Traders online

Thank you for reading this piece and hope you enjoyed and found this story valuable! See ya soon!

Developer who loves to build beautiful apps and write great Medium stories to share what I have learned.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store