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Suggestions to new traders

from: SDRider

Trading can be as complicated as anything could be, but it could be a relatively simple process. The best approach for new traders is to have a mechanic and disciplined procedure.

  1. do your dd carefully and have a plan in mind before you buy something
  2. buy low, don't chase high flyers. Better lose opportunity than money.
  3. set mental stop loss 15-20% for small caps, 10%-15% for middle/large caps
  4. take profit with small lots on the way up at key resistance levels.
  5. unless there is major news or major change in the market, stick with your plan.