Ep 146: 12 Common MISTAKES Beginners Make in Stock Trading

★ SUMMARY ★
Making a mistake when you first start trading can be both disappointing and discouraging.

I’ll let you in on something that I’ve learned throughout my professional experience- no one knows exactly what to do when they start out in the stock market for the first time. However, there is a way that you can avoid these mistakes.

One of the best things you can do to elevate your trading success is to learn from the mistakes of those who have already gone through the trial and errors of all the beginning stages.

In this video, I will share with you a handful of common mistakes that beginning traders make so that you can learn how to avoid a wide range of mistakes ranging from inner game to outer game, underestimating the ease of the market, and creating bad trading habits.

#1 believing that the market is easy to make money
#2 having no plan of action for each trade
#3 having the wrong habits
#4 emotionally tied to a stock
#5 not taking profits into strength
#6 holding on to losers
#7 averaging down your position incorrectly
#8 using excessive leverage
#9 trying to save a position (compensating in new positions, trying to short it, etc)
#10 following people blindly
#11 looking at the short-term instead of the long-term
#12 not investing in yourself

Posted at: http://tradersfly.com/2017/08/ep-146-12-common-mistakes/

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Thank you so much for the support, I’d like to welcome anyone with any questions to message me as i would love to be a part of your success.

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In today’s six-month Robinhood trading app review, I share my experience and impressions using the Robinhood app over my first six months. I also discuss why I still think it’s one of the best investing apps for beginners to stock trading. You can learn more about the Robinhood app here: http://share.robinhood.com/erikm53

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► Robinhood Stock Trading App Pros:

– Easy to use mobile platform
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– Great for beginners investing in the stock market

► Robinhood Trading App Cons:
– No desktop interface (at the moment)
– Less built in research and charts (for advanced users)

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► My favorite books on investing in the stock market for beginners:

— The Intelligent Investor: The Definitive Book on Value Investing —
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– The Neatest Little Guide to Stock Market Investing Book: http://amzn.to/2hdj2Qd

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— The Little Book of Common Sense Investing —
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About this video:
In this Robinhood app tutorial Erik from Immersive Tech TV reviews the Robinhood free stock trading app over his first six months of using the platform. He shares his positive and negative impressions as well as what makes it one of the best investing apps for beginners.

Disclaimer: This video is not sponsored and all the opinions expressed are my from my own experience. Some of the links in this description contain affiliate links, which help support the channel at no additional cost to you. Thank you for watching!

If you have any questions about the Robinhood trading app feel free to drop me a comment below and I will do my best to answer it as soon as possible!
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Hey team in today’s video I teach my little sister the basics about trading in the stock market, how to identify potential, how to manage risk, how to set up a plan, and the importance of sticking to your plan. I hope you all learn something new from this video.

Thank you so much for the support, I’d like to welcome anyone with any questions to message me as i would love to be a part of your success.

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I am a veteran stock trader of 10 years. I developed the Fous4 strategy and I teach Day Trading strategies for beginner to intermediate traders. We have the most hands-on program as the Fous4 Team works hard for your success.

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We focus on helping you developing your stock trading skills in technical analysis. This activity is the forecasting of future financial price movements based on an examination of past price movements. Like forecasting the weather, technical analysis does not result in absolute predictions of the future. Instead, we try to anticipate what is “likely” to happen to prices over time. Technical analysis can use a wide variety of charting time periods and indicators that show price movements over time.

Since our objective is to predict future prices, it makes sense to focus on price movements. Price movements usually precede fundamental developments. By focusing on price action, technicians are automatically focusing on the future.

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Even though there are some universal principles and rules that can be applied, it must be remembered that technical analysis is more an art form than a science. As an art form, it is subject to interpretation, but it is flexible in its approach. Each investor should use only the techniques that suit his/her style. Developing a style takes time, effort and dedication. The best news of all is the rewards can be significant.

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A video that covers the basics in Stock trading and charting, What is a chart? What is a moving average, What is a trend line and how to draw one and the basics of support and resistance.
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How much money do I need to trade? This question is among the one most often asked. While there is not an ‘exact’ answer, there is a system to go about figuring out whether or not you are keeping your expectations in line with reality. The system? That’s what I discuss in this video.

ClayTrader.com and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. Investing/trading in securities is highly speculative and carries an extremely high degree of risk.
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**Read description for answers to frequently asked questions**

the first stock market video is here: https://www.youtube.com/watch?v=qwd3C2Cq9H0

As I say many times in the video, this is simply the way that I personally trade. That does not mean that it is for everyone. There are countless different approaches that one could have to the stock market, and none of them are strictly right or wrong.
Don’t ever follow exactly what any one person tells you when it comes to the stock market – including me! Do your research and come to your own conclusions.

QUESTIONS

Q. Do you day trade?
A. Essentially, no. I rarely day trade. I think that since I have started trading, I have only done 2 or 3 day trades.

Q. Your chart assumes that you can identify highs and lows – how is that possible?
A. It’s not. My chart was a very basic version of the way in which I trade – very basic. If I could re-film the video, I would put more emphasis on identifying highs and lows – the emphasis being that you can never 100% identify them.
If you trade, as I showed later in my chart, sometimes you will sell and the stock will skyrocket. Or, quite often, you will buy and the stock will plummet. It happens, and of course I experience this all the time.

Q. How long do you hold stocks?
A. This varies greatly, and can be anywhere from 1 day to months. On average, I probably hold stocks approximately 3 days – 1 week.

Q. So, you are making this video to advise people to start trading?
A. No. Absolutely not. I would be more likely to encourage people NOT to trade on the stock market than I would be to do vice versa.

Q. So, you trade off your base of k, and live off of that?
A. No. k is what I started with in my account two years ago. It is not what is in my account now.

Q. Can you give me advice on…?
A. No. Although I would love to help everyone, I am not the best means of advice for you. I am not trying to give anyone advice here – I am simply sharing a bit of insight into what my job as a stock trader looks like. I am not a licensed financial advisor, and I would not ever presume to give anyone financial advice. Please do your research and be careful!

Q. You don’t seem like a professional trader…?
A. I am not really concerned with how professional I “seem.” I am making a living, and that is the most important thing to me. I did not go to school for this, or ever take any classes on the stock market. I did my own research and taught myself all that I know about the market. I am not worried about seeming professional – I am only concerned about making money on the stock market.

Q. Can you give us proof / screenshot your personal account info / banking info so that I believe you?
A. No. If you do not “believe me,” please don’t expect me to care.

Q. I want to make some quick cash. Should I invest in the stock market?
A. No. Absolutely not.

Q. Can you film yourself actually trading on the market?
A. No – for various reasons. One, if you are imagining that my actual trading will be anywhere near as engaging as that not-very-exciting chart, you are mistaken. Perhaps if I was day trading, this would not be the case, but when I buy a stock, I simply click a button the says “buy.” That’s it… And then I wait for days, weeks, perhaps months. There is nothing thrilling to see here.
Also, it would be a bother to block out all of my account numbers and all that. Sorry.

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Why do I trade on TD Ameritrade?
– They have strong research reports
– They have great trading tools, such as Thinkorswim
– They have a great mobile app that allows me to trade on the go
– They have amazing customer service
– There are no hidden fees, such as maintaining a minimum balance

I explained this in the original cut of my video, but it was just getting too long!

**And no, I am not sponsored in any way by TD Ameritrade, I just like their trading platform and wanted to give you guys an explanation of why that is. A lot of people also highly recommend Scottrade, which has lower fees than Ameritrade. Whatever works for you!**

DISCLAIMER

This video is for entertainment purposes only. I am not a financial advisor, registered investment advisor, or broker dealer. I am not a member of any association in any jurisdiction. I am not legally qualified to give financial advice – this video simply shows you my own personal strategies. Viewers are completely responsible for their own investments and financial decisions. The content creator is not liable in any way for any decisions that the viewer may make based off of this video.

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