Something helpful

Hey everyone, I have been here for years and been interacting with you all. So felt like sharing this here in case anyone is needs or wants it. I have been learning about trading(technical analysis) for many months. After studying for months, practicing, etc it is seems to be worth it based on my demo account history for a beginner like me as long as I follow my rules and have a good risk management + psychology.

So in case anyone needs a skill to make extra bucks or do it as part time something for their financial conditions, they can go for it. It’s convenient too to make extra income for yourself from home through a laptop with a wifi. But just remember to actually take it seriously as the success rate is like less than 5%. But the good thing is most are women here who should have somewhat better management and control of their emotions, following the rules and risk management which are MUST in trading and basically the most important parts of trading. According to the statistics from some firms and brokers the women traders success rate is about 40%-50% while men’s success rate is about 3%-4%. So since the field is male dominated with 96%-97% failing rate, the average success rate comes down to less than 5% by taking men+women rate together. So just sharing this to take it seriously if one wants to get into it.

For content: I recommend ICT core content on YouTube. If not the full core content at once, then minimum the 1st-5th months, 7th month and 12th month of core contents to know the basics to start with. Also watch “Essential to ICT Market Structure”video which isn’t part of core content but needed to understand the market structure. All of them are on YouTube. Watch all these, take notes, and start practicing the concepts and everything he’s teaching on Trading-view free account to start the overall process.

P.S not a financial advice

Cool. I am willing to invest in laxmi cheat fund though.

Sounds interesting.....I will definitely give it a try to see if it interests me....I already have a full time and a part time job ...so if its not too much for me...I can definitely try.......So how much initial investment is needed?

Which app do you have your demo account on.. for practice?

Originally posted by: blue-ice.1

Sounds interesting.....I will definitely give it a try to see if it interests me....I already have a full time and a part time job ...so if its not too much for me...I can definitely try.......So how much initial investment is needed?

Now there are prop firms willing to fund traders if they pass their challenges or the evaluation account. So they usually have sales going on. I bought one 50k account for $20 bucks as they had 90% sale going on. They sometimes have 80% or less sale going on. If the account is 50k, that doesn’t mean the person actually have 50k account because these prop firms have rules like one can lose maximum of 5% of the account before they fail and they have to make profit of 3K in order to pass. Stuff like that. So one has to take very less risking like 1-2 micro contracts per trade which is very less to use as leverage for stock indices like ES (SP500) and NQ. The contract thing must be confusing for you now, but that’s not needed for you to understand right now. But just telling how one has to risk very low with these prop firms in order to pass and get funded. That’s the risk management part of it. But it’s good to get funded for beginners imo than risking their own money to start with which can be $100 or $500 to more. One wouldn’t want to lose their money in such case. So better to start with prop firm by buying it for cheap to get funded and that’s how to start first. That’s just my view and what many start with now because even if one fails the evaluation account, one will lose that $20 bucks rather than a lot of money if they started with their own money to start trading with as a beginner.

Originally posted by: NatkhatPyare

Which app do you have your demo account on.. for practice?

Originally posted by: The_Best

Trading view has a demo account

Thank you.

Any books you would suggest, which u particularly like...?

Hey, thanks for the info, will go through it 👍🏼

but I don’t participate in puts, calls, futures and options trading, I only buy selective equities for long term and intraday trading.

I should have bet 50K on Loreen.

Originally posted by: The_Best

One can put their own money into brokerage to trade, but that’s risky especially for beginners as one can lose the money if one is inexperienced.

but its more risky to put money into these trading apps. There are many “online trading app scam” cases filed in India. I think before investing we need to check whether these Apps approved and regulated by SEBI or not.