Survival kit.
What you need to become a trader. Trading is first and foremost about learning to survive before improving and taking it to the next level and working towards becoming a profitable and eventually consistent trader.
- Decide on your career stop loss – this is the maximum of your capital you will invest in yourself to become a trader. Once established, do not break that limit.
- Market Terminology – understanding the jargon used in the markets and by traders.
- How do I start? – read books, watch videos, take a course!
- Prepare a Plan of Action – learn, practice, more practice, decide on asset class and trading style –
- What do I need to know – fundamentals (macro), technical analysis, risk management, trading techniques, trading psychology and self-analysis.
- How much free time do I have, and when?
- Will I trade or invest?
- What asset class should I trade!
- Should I trade CFDs or futures & options!
- What type of trader will I become?
- How my personality will impact my trading
- The need to practice.
- Learn to control my emotions in trading.
- How to build a trading plan and why
- Which broker should I use?
- Which trading system should I use?
- When do I know I am ready to trade live!
- Should I use my own capital or attempt to qualify for a funded account and use their capital!
Register for our Trading for Beginners workshop to help you decide if trading could be your next career and discover what trading really entails and what it takes to become a professional trader.