A newbie who lost 10% of his investment on day 1
Hello everyone,
I'm new to trading, well not entirely new. Couple of years ago in college I invested $1,000 in penny stocks and lost it all. Moved on...
Now I'm starting again and first thing I did was put all my saving in one stock! FB! after ER report the price went up and dropped in like half an hour. kept dropping I got scared and sold. Lost 10% of my investment. Bought it again, sold and made about 2% of my 10% back! bought again when the price dropped and now I'm waiting until a nice boost.
I want to learn day trading, I currently work full time but I'm able to basically track my stocks throughout the day.
Suggestion please? where should I start?
Hello and welcome to futures.io (formerly BMT) !
https://futures.io/images/smilies/smile.gif
Well, for starters my first and foremost advice would be to immediately STOP trading real money and stay on SIM or paper trading until you've got a trading plan and a proven and thoroughly tested strategy !
And watching this webinar would be a good starting point as well:
https://futures.io/traders-hideout/1...rt-trader.htmlThank you I will look into it!
>I want to learn day trading, I currently work full time but I'm able to basically track my stocks throughout the day.<
Further to daytyrader999's important advice I would suggest you trade futures in the evening time. Do not try and trade or follow trades while in your day job. If I was your boss I would fire you, then you would have no income never mind losing 10% or more of your savings.
For learning, check out
Al Brooks price action trading course ($249) which is likely much less money than you have already lost.
Price action is key and for some all your need. I supplement with order flow.
Hope that helps.
Hi there. I clicked on the link to start watching the webinar but I can't open it. It says you have to be an elite member for it. Is there another way I can access? It seemed strange to me that you have to be an elite member to have access to a newbie webinar.