Lost in Trading

fabienne_baltazar

Hi guys!

My name is Fabienne, I'm 21, and I've recently started my trading journey by looking through YouTube videos and I find it difficult to differentiate between reliable sources and get rich quick schemes.

My interest in Financial Education started a few years ago, however my family has a pretty conservative view on trading, so I want to take matters into my own hands.

I'd really appreciate any kind of support. So if you have any tips on where to start and what strategies to begin with/dive into, let me know :)

Want to follow me on my journey? Feel free to like, comment and follow this account 😊

Comments

v.zlydnev

Jul 10

Hi Fabienne!

Your story really resonates with me. I admire your determination to take control of your financial education despite your family's conservative views on trading. Like you, I'm new to this world and sometimes find it overwhelming to distinguish between legitimate advice and get-rich-quick schemes.

I'd love to follow your journey 😊

fabienne_baltazar

@v.zlydnev

Jul 10

Hi! Thank you for your response :) Let's do this together! What's your approach, have you found any good resources yet? Would love to hear about your experience so far 😊

elliottwavespot

@v.zlydnev

Jul 17

I can help free of charge

victordwagner

Jul 10

Happy to hear you’ve developed an interest in trading. Feel free to reach out whenever you have questions :)
If you want to test which strategy is right for you, backtest before you go in with real money. Test the strategy by following all the rules laid out in front of you. Don’t try and make the strategy work by being a little flexible with the rules or values. It’s gonna lead to bad habits and punish you in the long term.
Don’t follow someone’s advice just because he postet some nice results in Social Media. Trades and account statistics can be easily faked.
Investigate someone’s strategy by going through their track record on social media, do they use the same charts and references in their work? Do they continuously update their charts and stay consistent in their explanations or seem to adjust based on new market conditions.

Just like Bruce Lee said: „Absorb what is useful, discard what is useless and add what is specifically your own“

All of that is going to require some work and experience but by going through the charts and investigating many different strategies, you’ll see pattern repeat over and over again which is the first step to becoming a trader.

mustermann84

Jul 11

I recommend that people choose a pattern and start with it. ABCD patterns are easy to learn and it's best to look up the Wolfe Wave on Google. Then you should know what an RSI divergence is, for example.

fabienne_baltazar

@mustermann84

Jul 13

Thank you so much for your tip. Do you have a recommendation on where I can look up the ABCD Pattern?

elliottwavespot

Jul 17

I can help you too with free resources. I have been in the industry for years. I started by learning from free YT videos by Steven Hart (TTC) then did chart patterns (and I focused on 4 patterns only). After that I learnt about 10 bullish and bearish reversal candlesticks, support and resistance then boom I was trading. Of course in the first few days you will make money but later lose a lot until you work on your trading psychology. For me it brought up my childhood traumas I never dealt with the right way but instead suppressed. So until I dealt with them the right way I was never making any money despite my mastery of even the Wave Principle.

trusktr

Jul 30

Hello! Have you seen Warrior Trading on YouTube? His videos are super excellent. He posts a new video every single day after each trading session he has and goes over his trades. Really good stuff!

trusktr

@trusktr

Jul 30

YouTube is also flooded with people luring you into sites like PocketOption.com, etc. Just look at video descriptions before watching. Most people do have affiliate links as a source of additional income (even if they are a good trader, why not capitalize in other ways too!), and you can tell which traders are real scammy if their content is short and not very detailed, and they focus heavily on trying to manipulate your emotions to get you to click on their links and pay for stuff.