Is it easy to make money in Trading in 2023 ?

Trading is basically buying and selling shares on the same day to make profit. If you have right mindset and knowledge, huge amount of money can be made constantly

But you have to remember, this is not a quick rich scheme. This is a profession that requires discipline, lots of work and patience

So how exactly we can make money in Trading ?

Is it easy to make money in Trading ?

No, trading is a tough business, It is not a quick profit scheme, but if you learn risk management and learn to study charts well, then you can make much more money than most professions

you can start making money in trading by learning the skill properly from good books and resources and trading with a small amount of capital. Once you are confident enough you can add some additional capital and then you can start making good side income

Minimum capital required to start trading ?

For starting you should start not more than 100 $ . This is to gain confidence and understand market behavior. Once you are confident with the skill, you can add more capital. As you can see in above graph, traders with more capital are generally more profitable as they can make good profits with lower percentage of capital risk.

Should I leave my job for day trading ?

No, you should never leave your job for pursuing day trading as it puts too much pressure on you to earn your day to day expenses. This pressure makes you do overtrading that can result in significant losses. Best way is to continue your job and pursue trading part time, once you are confident with the skill, and are earning more than current job then you can think about doing trading full time.

How much time it will take to learn trading ?

You need to learn basics for about 3 months followed by 3-4 months or 90-100 days of testing your setup. It helps in finding your trading accuracy. Then you should trade with a small amount for few days. So basically you should spend atleast 8-12 months focusing on learning. Then you will be much confident

Can a trader make profit everyday ?

Answer is precisely no, this is a business in which losses are part of the game. Even the top traders who have been trading for years make some trades that generate losses. You must focus on keeping your losses small and profits big. Also number of winning trades should be more than losing trades, so you can remain profitable on monthly basis and generate a good income.

Can a teenager make money from trading ?

If you are a teenager, you should only focus on learning the market. As making trading account is not allowed in most countries for a student, and risking money is not a good for a young person. Once you get older and make consistent money form job or a business then you can start trading and make good amount of money.

Some tips to get started !!

Step 1: Read ! Read ! Read !

The best way to start is to read good books, learning from the experts can shorten your learning curve much more. Any profession requires expertise, in trading also only professional knowledgable traders make money

Few good books i suggest

  1. Trading In the zone
Buy on Amazon
  • Mastering market psychology
  • Understanding basics of successful trader mindset
  • Best for beginners

2. Trading Price Action Trends

Buy on Amazon
  • Technical analysis basics
  • Simple language to understand
  • Must read for day traders

3. The wyckoff methodology in depth

Buy on amazon
  • How financial market works ?
  • How big players control the market ?
  • Best book for swing trading (few weeks to month)

Step 2: Open your Charting Account

A must do starting step in your trading journey, i suggest you the best charting software Tradingview that is used by most traders. It is widely accepted as industry standard. It is fast reliable and affordable. Basic plan is free of cost that is very good to start . PRO plan cost about 12.95 USD/ month that gives advertisement free access to site with 2 chart layout alongside upto 5 indicators. I’d say PRO+ and PREMIUM is not for beginners. First 30 days of any paid plan is free.

Step 3: Make a trading account:

You have to test your knowledge base on a real trading account, many people say that you can start with tradingview paper trading, but i would say if you want to shorten the learning curve and learn the psychology of a good trader, you’ve to enter live markets with real money. Don’t start with too much, 50-100$ is more that enough for learning, make mistakes with small account so that you can be confident with bigger capital. You can go with any platform on equity or forex, but as i’ve observed that most stock trading platforms charge a lot for each trade you make, i started my journey with binance futures, with just few dollars.

You can also start your account by following the video below, and if you open account from my binance link, you will get 5% discount on trading fees and you will also support my blog. This video tutorial will guide you completely throughout the whole process

Step 4: Backtest your trading setup

For the starting days you should focus on finding find a good scalping setup from recources such as youtube, tradingview and test it on live markets for about 90 days following risk management of 10% risk on capital per trade and try to make 10-15% profits and max 5% loss on setup. futures will give you good leverage but dont it use too much, it should be kept at a max of 10x-15x. Once you get an accuracy above 80%, with proper risk management then you can add some more capital. Large capital is never required to make good returns. If you have a good plan you can convert few dollars to thousands over time.

If you become confident with crypto entries and exits and making good returns, then you can move to learning options trading. You can follow my article on can you can make it big through options trading. As a beginner you should never do options trading as it is very risky asset and requires expertise and big capital, once you have made good returns and capital with the above plan, then you can move same capital to other trading styles.

If you read till the end, you are amazing and I hope you make amazing returns and excel in trading. Most people have really short attention span due to world moving to short content economy, but for learning something good you have to put hours of focus properly on one task at a time. Trading is a proper business and many people have made it big following proper rules

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Hi there, i am a content creator and a part time trader. Ive been researching on trading setups and executing them in live markets. I focus mainly on swing trading.

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