As every high potential field & job, trading is no different, it takes time and a lot of effort to succeed and achieve elite perfo
I want to introduce a 1 year ROADMAP that could help newer trader in their quest to master the market
💟&🔁
👇
1⃣ Read HTMMIS (Month 1)
- O'Neil book is the bible of investing imo, you need to begin here to build your foundation
- It covers technical & fundamental analysis
- During the read, take A LOT of notes
Start applying the concepts by opening a paper trading account
- Learn how to place a trade
- How the market moves
- Just the overall experience of trading
3⃣ Read Think & Trade Like a Champion (Month 3)
- Super clear system from @markminervini, an elite multiple champion trader
- Solid track record & proven system
- During the read, take A LOT of notes
- Takes your notes from HTMMIS & Minervini
- Develop rules for
- TA & FA characteristics
- Entries
- Exits (profit, loss & violations)
- Money management
- Market analysis
5⃣ Start trading real $ - super small (Month 5)
- Start with a small amount you're ready to lose
- Take very small positions of less than 5% of equity each
- Don't go pass 20% of total equity exposure
- Focus on EXECUTION - don't expect to make $$
6⃣ Listen to successful traders interviews (1 per week)
7⃣ Journal each trade & analyze & adjust (Month 6-9)
- Each W & L must be journaled
- Is the system respected?
- Reason to enter, sell, etc
- Analyze your L's & adjust plan
- Note the mistakes you make
- Still focus on EXECUTION, don't expect to make $
8⃣ Re-read HTMMIS & Minervini (Month 10)
- With few months experience, new things will click during the read
- Adjust Plan/System accordingly
9⃣ Begin to increase your position sizes if conditions are right (Month 11)
- Trading with positions of 10% max
- Up to 50% of equity
- Journal trades & note mistakes
- Keep track of statistics
- Scale back size if not profitable
🔟 Read Mental Game of Trading (Month 11)
- Mental game from @jaredtendler is THE reference book
- With experience now in hands, you can now work on the psychology aspect of trading
- IF PROFITABLE
- you can increase to 100% of equity
- Still EXECUTION focus
- Journal trade, analyze & adjust trading or mental execution
- Track statistics & find area to improve
- At least 1 FULL YEAR of trading before focusing on $$
If you liked this 1 YEAR #NewTraderChallenge Roadmap,💟 &🔁 this thread to help new trader
Cheers! 🙏
More experienced traders, did I forget anything ? 👇
Month 12*
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