this post was submitted on 21 Nov 2023
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Digital Nomads
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How did you learn? Do you hav some advices? What would you do if you had to start from zero?
First of all, daytrading is hard, very hard to learn. It takes a lot of time, dedication, failure and (possibly) quite some money to get the hang of it. It took me 4 years to become profitable (besides a fulltime job) and 3 more years to be as profitable as I'm now. I started my journey with an academy that doesn't exist anymore. Lost of theory but the most important of all an everyday live trading room where the main trader always shared his screen. Seeing a professional trading live and explaining his thoughts is very important. Besides that, read books that explain the psychology of daytrading. Having your mind under control during trading is the most important thing of all. You will see that you will start to get to know a whole different part of yourself. Daytrading consists of 30% knowledge and 70% psychology. Search every concept/word that you encounter on youtube. Youtube will keep you busy for hundreds of of hours.
Another very difficult part is creating your own strategy. You can find lots of strategies online, but they probably don't fit you. Everyone has it's own trading style and you have to discover yours.
I suggest you join r/realdaytrading. They have a wiki you should read several times to start with. That will give you a very good start from which you can develop further.
Remember, to start this journey you should be ready to dedicate yourself a couple of years to this. The failure rate of people trying to be a daytrader is enormous.
If you succeed, the reward is enormous. The perseverance should be too.
Thanks very much for the these advices :)