Page 449 - THE MARKET WHISPERER

THE MARKET WHISPERER 44 5

Important tips before you click
the button for the first time
ever

Starting Slowly

You’ve read books, learned the principles of trading, bought a powerful
computer, connected to a trading room, and now at last you’ve opened a
trading account and deposited money in it.

That’s it. The much-awaited day is here. It’s your first day of work as a
stock trader. Understandably, you could be feeling euphoric, but equally
understandably, there’s tension and uncertainty. Did you sleep well last
night? Did you eat breakfast? Please – start your day slowly. Be calm. Begin
small. Operate carefully. After all, before you test your swimming skills
in the stormy ocean of the stock exchange alongside sharks and whales,
practice first in a quiet lagoon alongside the shore. Go for just one trade
a day throughout your first week. Learn from each trade by examining it
from every possible angle.

Why did you buy that stock?
What was the market doing when you were buying – trending up or
down?
What did the sector do?
Was the technical formation correct?
Did you operate professionally, or from an uncontrollable urge to hit
that button?
Learn to sit on your hands and do absolutely nothing but watch, listen,
and learn. There’s a long road ahead of you.If you feel that for every
moment you’re not trading, you’re actually losing money, then you first
need to learn how to stay very calm. Thinking about money causes losses.
Instead, think about the methods and the goal (money).