Hey everyone - I'm back.
Just finished an on-site project, now working out of my home again for awhile, so I can lurk and practice trading again.
My suggestions for noobs:
I highly recommend a free introductory course by TradesmartU called Foundations of Stocks and Options. They cover a lot:
- How to read charts
- How options work - calls, puts, the Greeks
- How to identify support and resistance
- Setting targets and stops
- Common candle patterns
- Most important - money management!
I concur with Beer - I would only paper trade until completing such a course and developing some skills.
My biggest mistake when starting out was not understanding money management - risk/rewards and proper sizing of your trades. I am now paper trading again with a Risk/Reward model to see if I can trade profitably before jumping back in with real money.
You can also learn a lot by watching the folks here trade.
Roy - very happy to see you again. I went back through a bunch of your old posts for a review. You have been an awesome mentor to so many here, including me. I am grateful!
Regards,
Jane
