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Some Advice Please!

Jay0989Jay0989 Posts: 8 ✭
in Beginners Questions
Hello,

First, thanks to this forum, I have joined a broker and have made $5 on my initial $10 deposit! its a little win but gave me confidence! Thank you for your education tutorials and all your guidance!

I am still learning about this world and have some questions:

1) Before trading, do we look at the news or any other type of media to determine what economical state is of what we are trading?
2) For the life of me....when I saw the downtrend happening, i hit "put" early before the expiry and the candlestick shot right up!!, is there any other tips for reading trends?
3) This forum as taught me to not use emotions when trading, especially when OTM. For the life of me, i still find it difficult to lose! Any tips you guy use?

A big thank you to all!! :)

Jason
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Comments

  • BryanMacBryanMac Posts: 851 ✭✭✭
    Come to live chat and I cover all of the above if you can not...

    1) Pre trading prep is very important so yes you need to know when news is coming and if there any type of world events that may effect trading. I.E. the recent China mess.

    2) What time frame and expiry are you using. Post some charts and trades for some real feedback here.

    3) Focus on good trades win or lose once you can review the trade and determine it was a good trade the result no longer matters.

    Bryan Mcafee
    Hit me up on skype at Brymcafee (McAllen TX)
    www.tradingaxis.com
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  • Jay0989Jay0989 Posts: 8 ✭
    Thank you so much Bryan

    1) I will be doing that from now on for sure!

    2) I am using iqoptions and am using the "turbo trade option" - which gives you a coupes of seconds to make a decision - I will post some screen shots and paste them when i get back into the game!

    3) This is something I definitely need to learn...once I started being ITM....i lost my strategy, got over confident and treated like gambling...which it is definitely not!

    I look forward to watching some live trades!!

    Thanks again!,
    Jason
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  • dear123dear123 Posts: 83 ✭
    Looking at the news is very important while trading, markets behaviors can sometimes become more unpredictable with such news. Second is choosing the right strategy which comes with experience, demo accounts should be practiced for more than 1 year. Lastly, if you find something more difficult to understand, do write on this forum and expert traders will help you right away.
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  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited December 2015
    Yes if you have questions on trading feel free to ask :) Often nobody does..

    image

    Written over 100 years ago and is as true then as it is now....
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