what is your advice for a beginner?

[stoch]

My advice for newbie traders is to not make hasty conclusions that Holy Grail and become overconfident. It is quite easy to confuse lucky wins with gains that prove your strategy has an edge. It is sometimes very difficult to distinguish them

 

[Alia Kapadia]

Beginners need to focus, do the basic steps properly and make sure they are up to date with the news in the market. They should maintain discipline and trust their instincts, not base anything on luck. Keep the end goal in mind in order to make progress and earn profit along the way.

 

[Pari Kamal]

I’ve been trading in the stock market for a year now and it is definitely not easy. Beginners need to focus on picking the right stock to avoid losing out before they get a chance to make profit. Learning from your mistakes will help you make better choices, don’t stop learning. Good luck!

 

[Kamala Patel]

Like all other things in life, you can’t start with a strong foundation. The same goes for the stock market. Invest in education and learn about the market before investing your money as it is about calculated risks

 

[Kanti Ojha]

Focus on your trading game and not on what others are doing. The moment we look at someone else, our focus goes away from our trading, and we lose. Learning to stay focused, therefore, is crucial.

 

[SiddhiBarvadekar]

Learn and do it all yourself. And stop following the herd. Develop a judgement for picking up the right stocks. Invest small and test yourself. Stocks involve a lot of learning and you will make some mistakes. But if you learn from them, it can be very fulfilling.

 

[Trishula_capital]

First of all, don't expect to make easy money by trading. There might be a times when you make good profits in easily, but it is hard to repeat that performance on a consistent basis.
Secondly, always know the risk for every trade you take, before taking the trade. As traders, we want to focus on profits, but losses are an inevitable part of our business. Quantifying your risk will help you make sure that you don't wipe out your entire capital.
And last, read and research as much as you can. Never stop learning new stuff be it risk management, psychology, trading systems, strategies etc.

 

[Sarasvati Kapudia]

Build a strong foundation of knowledge and skill, so you can face situations with much better ease and make wise decisions throughout your journey.

 

[Shanti Chopade]

The best piece of advice any beginner could receive would be to learn from their mistakes, improve their skills and set realistic goals as they start. Do not worry about the end goal as long as you’re focused on the process of getting there, it will take time so trade smartly. Follow a plan, apply risk management techniques.

 

[stoch]

The best piece of advice any beginner could receive would be to learn from their mistakes, improve their skills and set realistic goals as they start. Do not worry about the end goal as long as you’re focused on the process of getting there, it will take time so trade smartly. Follow a plan, apply risk management techniques.

Yes it is important to focus on the process instead of profit because when you don't achieve your goal you feel frustration and could easily start to make dumb mistakes which will make situation even worse for you.