The team and I got together to discuss a few different things with respects to trading...
You need help and education to get started in the stock market - and that's okay!
That's how learning MOST new subjects work.
In this episode, we talk about the mindset you need to have in order to become successful in the stock market.
Audio Version:
You can also listen on Spotify, ApplePodcasts and Stitcher
Video Version:
One of the biggest mistakes we see new traders make...
Something we see quite often is new traders want to get started, but they may not have that much money to get started with.
Instead of taking what they do have an investing in themselves with knowledge and learning how to trade in the stock market, they immediately just start placing trades.
Well when they get in the game, they have all these questions and when they start losing money, they don't know what to do about it.
It's then that they realize they should have learned some basics first before starting to trade.
So a big takeaway from this episode we want you to take is:
If you are just getting started, LEARN first. Get knowledge - learn how to chart and the best entry and exit times.
Then when you have the knowledge, place your first trade.
Don't get in the game haphazardly and lose everything you have to start with.
"Invest in yourself before investing in the stock market"
You need to be willing to invest in yourself in the knowledge.
And that includes being able to ask questions - and get the right answers.
Are you in a community that provides that? If not, how can you get in the room with others to gain valuable insight and feedback about the stock market?
We would love for you to consider Power Trades University - get in the right room. Click here to check it out.
Sometimes, you just need to take profit
One thing we have noticed new traders do...
Is they want the absolute last cent of profit inside every trade.
And by doing that, sometimes they risk it all and watch it come all the way back down.
We urge you to take profit when you make it!
It is so key to get in the habit of making consistent profits.
"The name of the game is consistency"
There isn't one trade that will make you rich.
But there is one trade that can blow up your whole account.
Take small wins! That's okay that they are "small"
It will help you trade another day.