- Fundamental analysis
- Technical Analysis
- Risk Management
- Trading Psychology
- Find a strategy that suits you.
There are plenty of different ways to make money in the market and it is very important to find a strategy that suits your personality and lifestyle. It is only if you can find a fitting strategy you will be able to carry it out on a consistent basis.
Let’s say you are a full time student or have a full time job, then scalping is most likely not a strategy you should be pursuing.
Perhaps “impatience” is one of your major character traits, then long-term value investing may not be the strategy for you.
It is likely that swing or position trading are the most fitting strategies for most people as it is less time consuming and it keeps you from overtrading.
Regardless, finding a strategy you can stay consistent and successful with over the long term is very important. Paper-trading is a great way to dip a toe into trading and start exploring what type of trader you want to be. Paper trading will keep you from losing your real money while you are just starting out and trying to “find yourself” as a trader.