Trading From Dummies:

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From the moment I started trading I thought I found the golden goose. I’ve made 190% return on my money in two days. My average return expected was at least 40% before I sold. That has worked numerous times. Welcome to the world of trading and markets movements. Did I mention I also made $2000.00 in three hours on a $600.00 trade? Yeah, went on to lose that in the next two hours, and then some. The rollercoaster ride of trading. I’ve chased the climb and fallen hard. I’ve been lucky too but I’m a seat of the pants kind so I’m sure I could have made more informed decisions. The information is out there but be wary for the scammers and the high-cost groups that really give you very little in the way of anything that you could not find yourself. There have often been recommendations for a trade at the peak and two days later it crashes. That’s not saying that anything illegal or unscrupulous happened but be wary.

Paper trade to learn the market. There are many platforms that allow you to paper trade. This is a fictional account that allows you to make real time trades without the real money. This is the best place to get your feet wet and find your niche or just get a perspective of the risks and rewards of trading the markets movements before diving right in. All in all it’s like swimming, it’s still a lot of fun, as long as you’re above water.

I’m no expert but I can tell you that when people are charting patterns it is totally subject to numerous variables. There is no true rhyme or reason to any of this. The studies drawings and patterns seem endless so play around a little. Avail yourself of the numerous videos and other free educational material to learn how these can be used to get a feel for the markets movements. Learn terminology so you understand financial news stories and their effects on the market. Learn to use a screener but just to remain clear, none of this is set in stone. Just because you have a head and shoulders play it may also be someone else’s pennant or rising wedge.

I can’t help but think trading is gambling no matter what anybody says. Whatever anyone tells you the trade is still subject to the markets movements. If you can’t afford to lose the money for a trade, don’t make it. Never use funds set aside for bills such as mortgage or car payments or insurance and especially food money. There are numerous agencies that can help you if you are in need. The market doesn’t care.

There are sharks out there that will literally take the food out of your mouth. Most trading platforms are subject to SEC rules and regs but there will always be the unscrupulous. They will promise you the moon and deliver one in 7 at best, that’s my opinion, so don’t fall victim to these vultures. You can get the same info as them as well as all markets movements. If they have inside information, it’s probably not coming down to the average trader. If it sounds too good to be true, it usually is. Do your own due diligence. But don’t take our word for it.

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