I'll dive into what I have to offer in terms of education. The first being risk management. This photo will jump us straight into the scary stuff. Thankfully this was on a "Paper Trading" account. For those who don't know what that is. A virtual account you can trade real-time quotes during operating market hours to practice with fake money before using real money. Giving you the ability to build and test your strategy and gain the confidence to manage risk and reap maximum profits.
In the picture above I failed to do proper risk management. At first things were going well, I was up 25000$ USD. But even with FAKE MONEY, I was greedy to see how much more I could make. Notice how psychology plays a role in your risk management? Unfortunately, I didn't set a proper "Stop Loss" to exit my position when things went against me. The stock fell to where I bought in, thinking it would bounce back up. Again I did not manage risk, as I put way to much money in, and did not think of considering pulling out before losing more. I proceeded to buy a second purchase as you can see in the image. Only for it to tumble down with no signs of it ever coming back. I closed the position for what could have been a -11,380$ USD loss. Thankfully I exited at that point of realization because not to long after it fell to .04 USD where it is no longer traded on a major exchange and the company declaring bankruptcy. With proper risk management, I would have claimed those profits and exited out the position way before I could have lost any profits.
In this photo, it was a better scenario of risk management and position sizing. I could have earned a 350$ profit. But ironically, I was still greedy with FAKE MONEY. This lead, of course, too another inevitable downturn in which this time I had a stop loss set to the amount of money I was tolerating to lose for that trade and closed for a 161$ USD loss. I could have set my stop loss for a maximum of a -10$ loss. You're wondering why I did not do that. Subscribe to my services, where I'll explain and teach you all there is to know about this. It's a lot to understand and take in. Below I will show you a good scenario I got myself in that is not so scary.
As you can see in this image , that's not so scary, Am I right?
Now, this one covers the last two losses I showed you above.
Here I have a proper entry. I stuck to my guns. I set a stop loss for it to close my position if it went under my stop-loss. In this case, we broke out to the upside. I raised my stop loss to save my profits if it decided to fall against me walking away with a 10,000+$ win. Erasing the last two deficits and jumping right back into the gains. Risk management helps to prevent you from giving money back to the markets and minimizing as much risk and being ready for it because one thing I will promise you. It inevitably happens to the best of us, but we all respect our risk management and stay disciplined. I've had similar losses to the first one above, teaching me valuable lessons that I want you to avoid.
Don't be like 90% of people and jump into the market with no knowledge. No background. No RISK MANAGEMENT and end up losing a lot of hard-earned cash. I highly recommend you take this step to secure your financial freedom now subscribe to my service. I will teach you how to find proper size managing into a trade according to the account size of your capital. I will teach you how to calculate and figure out where to set and how to find your risk management zones in trades to help minimize your loss and maximize your gains.
Some types of trading and or investing approaches do not rely on fundamental analysis to assess opportunities. For instance, technical analysis use trends, patterns, and other indicators to assess the market's current psychological state in order to predict whether the market is heading in an upward or downward direction. Trend-following quantitative trading strategies employed by hedge funds are an example of investing techniques that rely in part on taking advantage of shifts in market psychology, exploiting signals, to generate profits.
Although it may seem easy when you win money paper trading, the reality of it is that it's not real money. In other words, you're not what so ever tied to an emotional state when your paper trading. Or in other words, dealing with the psychology behind trading. Many succeed in how to read the analysis. But very few are stronghold and witty enough to understand the psychology behind the power of the market. Risk management is key.
As you can see above, it's slightly confusing, right? Here's the language of the charts you'll be learning to read. And that's not all. There's also Volume, Moving Averages, Indicators, and Oscillators that we will also get into, maybe some of you have some knowledge of this level already, and that's fantastic! I will teach you how to read them on different time-frames from 1-minute frames up to hourly, weekly, monthly, and yearly charts. How to pair up candles to signal when a break out/reversal to the upside or downside may occur or not (setting support and resistance zones). All this may seem a lot, and it is. But you can't let this intimidate you. I'm here to help you, and I will do my best to help you understand. After all, my subscription does offer 24\7 access to me via the group chat. Education is key
Firstly, this depends on your region. I'm Canadian I trade through a Canadian Brokerage. I use Scotia iTrade because it's my bank, and it's just much more convenient for me, and I can rely on their speed and service because well... they're a bank. Unlike third-party platforms or some companies that offer free commissions but always have bugs in their software. Their apps end up freezing or crashing during very volatile days, preventing you from getting in or out of a trade. But everyone has their own opinion and to each his own. So with that said, let me suggest a few if you're Canadian.
Scotia iTrade; is fair in what they offer the old school. It needs refreshment and remodeling of its software. But like I mentioned, its convenient for myself. (Extended Hours) from 8:00 AM to 5:30 PM
WealthSimple is currently the only one to offer free commissions but limited at the moment on what they can do and the number of companies they have available to trade. They operate from 9:30 AM to 4:00 PM. (regular hours)
TDAmeritrade; is probably the best broker to have. Everything is much more modern. There are many more options for charting in what's available to you compared to the other Canadian brokerages. (Extended Hours) 8:00 Am to 6:00 PM
Now for my fellow Americans.
There are many more options in America then there is in Canada, so I'll name a few.
Webull; is honestly a great platform. They're free commissions. They also give you 1 or 2 free stock when you sing up also. They have long extended hours allowing them to trade from 4 AM up until 8 PM.
And they offer so many tools and resources to read and analyze a chart, and they update regularly. I also use this app to paper trade and analyze charts.
RobinHood; Is free commission but seems to be the worst one in terms of the app always crashing, or investors having issues and not ever satisfied with their service. (Extended Hours) from 9 AM to 5 PM I believe.
And there's many more if you google, these are the most common.
TDAmeritrade; (Extended Hours) 8:00 Am to 6:00 PM.
*(I could be wrong on some of these hours)
Brokerages that don't have free commission will charge a trader a fee, and it varies depending on the broker. But the average range in pricing is from 4.99$ to 24.99$ a trade. That's each time you buy, and each time you sell, they charge you for them to process your orders to the market and make a transaction.
To summarize this part, it all depends on your preference, if you care to have a reliable broker or not if you want to trade long hours or regular hours. Once you find your broker and open your trading account, we can then get you started on Risk management, Education and a Marketing strategy