what's what guys Stephen doctor so today I'm going to share five golden tips I wish have known since the beginning doing these set of videos is to help beginners to find the correct way to start a trading career so before I start this video make sure to hit the like button and you can add further more questions after this video make sure to follow my instagram and twitter and let's get started at very beginning of my trading career i started with about a couple hundred dollars doing with all those etf and because i realized there's
a certain range on ets bouncing back and forth so i was trying to buy the low and sell high and short the hyacinth i low so you know la around the stock didn't really follow the specific range i was where you expecting turned out I wasn't very profitable but was barely prop buyer Liverpool sounds making twenty and thirty bucks per trade and after i realized that i can't really stick in front of computer and waiting for those dips and and high to happen so each trade that will be making about sometimes even negative so like
negative five hundred bucks sometimes i make 50 bucks so by end of the month i was making like five hundred per month since i was looking for a little bit more heavy girls so that's why i get into the pinion stocks so penny stocks a lot of people think it's a scam in your long run yes either scheme penny stock it is a scam it's because when you're trying to bind to spinning stocks when you're holding in for long term 99% of the stock drop to zero so that's why the raw age of people trying
to buy in stocks and you can use this edge to sure into a ticker and expecting equal to 0.so shorting is you're selling high and buy low that means if the stock drops then you can make money in stocks the way of buying so number one Clips you have to save money because most of the us-based broker you have to have 25,000 to start account is because you can have that amount of money to avoid pattern day trader rule which is called PDT some of the broker like trade 0 spring trader if i have international
accounts then you can start with under 25,000 and you don't really have the PDT rule which is only US city yes residents you can only trade about four times per week if you have problem with the starting found out was just starting with a really low amount you can be under PDT because we don't really need to over trade at the beginning of my trading career are always over trade I trade about 14 times per day and by the end of the day that pay too much in commissions so if you are just getting to
as trading career I wouldn't really recommend trading not much stay under PDT at least for a couple months or six months that you should help you to rediscover the edgeware start tracking statistics to find where your niche supposed to be tip number two is a lot of people when they're looking at other people making money they're making fifty thousand per trade they're making one hundred sixty thousand per month or making like five hundred thousand dollar amount and none of this really matters to you you're just a beginner okay when you are looking at this industry
and you see a bunch of money that people are making and if you want to jump into this full time I wouldn't really recommend it because some of my students that this think trading is very easy I think if people can do it within a couple weeks I can do it within even faster so when they try and you jump into your trading with full time especially when you're jumping to your full time you are basically having no job you have a desire of making money it's because you are not comfortable you are every time
we go into a stock market you'll feel like you should make money in that day and in that type of thoughts will forces you to make emotional trades or choice that it's not even your strategy in terms of that you will be end up losing money so at very beginning of your trading career I would really suggest going part-time you have a partial income at least in your life to support paying the bills and stuff like that then you're more comfortable to diversify your income and trying to make more income your life so at that
situation you won't be so uncomfortable with I should go in your market today I need to make money right away so tip number three you should build up your back of funds because we're all human we always make mistakes when a machine we don't even though machines sometimes get glitched I always tend to build back up bones that means when I make a profit that I feel very comfortable with and not a people were think okay well I can use this property to make more money in stock market that's completely wrong wrong is because when
you are building a strategy at very beginning and you're thinking okay well I grow twenty five thousand account into a fifty thousand dollar account then the next style I can use this twenty five dozen project to put into an area investment or put into nitrate to make another fifty thousand dollar trade in this case your mines are completely wrong because in training it's more direct with money so you need to build up your backup funds for example if you have count one and count you on count three count one will be twenty five thousand County
where between 5000 and the county will be twenty five thousand so you have three opportunities to make it sell huge mistakes to pull up your account and the very beginning your trading career you should focus on couple strategies so we are using this backup balance that if you made a mistake you can still come back and for other trading day traders that they go into your market and they made the first big money then they just going all in with the next trade I'll see you that's how they lose everything that's how they can't get
up and they can't go into a tree and create any more because they have no more funds so I would suggest give yourself couple opportunities to be comfortable in this market and that's how I do it and I feel much more comfortable with building a backup account I even have about two or three backup accounts I don't really use if I make a huge mistakes that can still have the chance to come back because the strategy works really well based on statistics so number four tips when you get into stock market we are looking for
strategies always test yourself always simulate the gains of the ear let's say the first one you want to track a strategy when you're on track how frequently happens so the frequency number two years so how much is the risk reward because you need the risk reward to make money so once you find the frequency once you find outs the risk reward you can use them times together and to make the simulate again because we can't get the perfect entry we can to get the perfect exit then the similar game will be like let's say twenty
percent less so a lot of people go into other programs and they're learning strategies and they don't even know the strategy actually work because you never had any samples when you are buying programs or by other people's program always go in and test their strategies test test it's very important is because if you go in using a strategy and you're expecting for long-term gains and by the end of the day you didn't really test realize you don't have the sample then you did it for let's say 50 times then you realized okay well this strategy
doesn't work anymore and they didn't really work at the beginning at that time you already lost enough funds you can really get it back so before you put any funds into you I would say any marquee that I really stay or South Market always test them before you try to go in a very beginning of my career I didn't really test the strategies I figured it out after one year at the beginning I was tracking too many strategies so those charged at iPhones to observe the stock market and trying to test by observing not putting
on actual data sheets then I see they work at again and again so that's why I stayed very profitable at the very first year so now five tips always fit creative so now if I got none fight it's always be creative because when you don't have the desire of to make money on that day that you're forced to make money because you need to pay your bills and stuff like that you won't eliminate your creativeness do it you will eliminate your creativity always think outside the box and try to think okay what happens if I
put this piece and this piece together that's the reason I track statistics is because I can put two statistical pattern together and to make sure okay well those tell pattern can combine together to get a better winning percentage or better risk award so that the end of this video you have any more questions please leave a comment below or follow me on Instagram or Twitter you can leave a question in there I can always answer you in dm's as well thank you very much I'll see you guys next time [Music]
